Bitcoin entrepreneur Charlie Shrem gives first interview out of prison to Wall and Broadcast - Business Insider

Of particular fascination to Shrem was the prison currency system, which involved bartering mackerels. According to an article in the Wall Street Journal, there has been a mackerel economy in federal prisons since about 2004, when federal prisons prohibited smoking and, by default, the cigarette pack, which was the earlier gold standard. Prisoners need a proxy for the dollar because they're not allowed to possess cash.

Every inmate can only buy 14 mackerels per week, said Shrem, so there is a certain number in circulation in the prison. Also, not all mackerels are created equal. The fish expire after about 3 years, after which their value depreciates. Expired mackerels, referred to as "money macks," retain 75% of the value of the "eating macks," or non-expired fish, explained Shrem. There were currency exchanges between the two, and everything had two prices in the prison.

mackerel fish Wikimedia Commons
One day, a large number of mackerels were confiscated by prison guards and left out for any prisoner to take. Overnight, the guards essentially introduced hyperinflation, said Shrem, and flooded the market. They lost all of their value.<div style="font-size: xx-small;color: #0000ff;display: inline-block;text-align: center;width: 100%;">
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