In the United States, the government is not the only entity legally allowed to issue money. Private citizens and businesses are allowed to do so, too, and throughout U.S. history, they have done this. This type of money is referred to as private money, and it had mostly disappeared from circulation until Bitcoin was created in 2009. Today more than eight thousand cryptocurrencies exist, and more are appearing every day. Why were private currencies so popular, and why are they coming back today? Patrick's Books: Statistics For The Trading Floor:  https://amzn.to/3eerLA0 Derivatives For The Trading Floor:  https://amzn.to/3cjsyPF Corporate Finance:  https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance Visit our website: www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Patrick Boyle YouTube Channel Support the show (https://www.patreon.com/PatrickBoyleOnFinance)