Comment Bitcoin is an example (Score 1) 110
Of how the pre central banking united states currency was. Or any asset backed currency for that matter.
One day a dollar was worth X, the next Y the following day it was worth H. Then those thinking because it was worth X then Y they were going to be rich when it hit Z, suddenly weren't.
This is why people at the time preferred to be paid daily, stashed it anywhere and everywhere. Then didn't even bother to retrieve it on the lows(and why any house or property dating to that time always has a handful of these stashes). This is the reason states and territories had 2008 level monetary crises routinely and the country as a whole every few years.
People think now that this volatility is a good thing. It isn't. it solidifies the social classes, keeping the haves having, and preventing the have not's from saving. Because as long as the value does not equal 0, the haves will still have more than the have not's. And the have not's will stay have not's because saving anything would be dumb, because there's a high chance that tomorrow your wage for the day yesterday could be worth less. So better spend it today when you can get more or you may starve.