Who Killed Decentralization? The Tragic Story of the Liberty Dollar ❓️
The excitement of the Bull Market seems to make us forget that the initial purpose of crypto and #Bitcoin is to offer an alternative to traditional finance.
Many new entrants are blinded by green candles ...
... But a system that is not censorship-resistant will sooner or later be killed or swallowed up by traditional/state finance, which does not tolerate serious competition!
The story of the Liberty Dollar reminds us of the importance of decentralization and why it is vital for crypto.
Between 1998 and 2009, libertarian Bernard von NotHaus decided to put into circulation an alternative dollar (ALD / Liberty Dollar), backed by a reserve of real gold and silver.
When the project started to get too big (250,000 certificate holders), the FBI raided the reserve, and NotHaus was imprisoned for counterfeiting.
We don't question the supremacy of the greenback without consequences!
The only thing that protects crypto from a similar fate is decentralization and uncensorability. These elements must be brought back to the center of the debate.
to those who have ears to hear...
