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From Barter to Bitcoin: The History of Money

Currency has come a long way since the days our ancestors primarily exchanged goods and services. But where did the idea of money come from?

ByCody Cottier
Credit: nevio/Shutterstock

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Human transactions have come far since the Stone Age. The commodity trading of our ancestors eventually gave way to money, which in the past few thousand years has cycled through different forms, from wampum beads and metal to paper. In the 21st century, it often manifests as intangible electronic transfers and even cryptocurrencies.

Money is one of humanity’s most momentous inventions. For millennia, it's made the world go round, and that’s no new sentiment: As the Latin writer Publilius Syrus put it in the first century B.C., “Money alone sets all the world in motion.” But what is this shape-shifting source of prosperity, anyway? For Americans, the word calls to mind pennies, nickels, dimes, quarters and dollars. Of course, these constitute the currency of just one nation, at one moment in time. The United Nations recognizes another 179 current world currencies, and hundreds or thousands more have long since gone ...

  • Cody Cottier

    Cody Cottier is a freelance journalist for Discover Magazine, who frequently covers new scientific studies about animal behavior, human evolution, consciousness, astrophysics, and the environment. 

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