VandelayBTC on Nostr: April 5, 1933. The order required Americans to hand over any significant amount of ...
April 5, 1933.
The order required Americans to hand over any significant amount of gold to the Federal Reserve in exchange for dollars.
FDR then devalued those dollars to make it easier to repay the huge debt that had built up during the Great Depression.
The Executive Order 6102 was a challenge to the liberty of individuals to preserve their wealth.
We can’t know for sure that Satoshi picked April 5 as birthday for that reason, but the Bitcoin creator was interested in monetary history and concerned about the power of individuals to preserve their wealth and keep it safe from state intervention.
It remains a core motivator of Bitcoin’s supporters to this day, because this time is different.
This time we have something much better than gold, that cannot be stolen easily and can even be taken to the afterlife. It's just math.
#Bitcoin 21>79 #Gold
The order required Americans to hand over any significant amount of gold to the Federal Reserve in exchange for dollars.
FDR then devalued those dollars to make it easier to repay the huge debt that had built up during the Great Depression.
The Executive Order 6102 was a challenge to the liberty of individuals to preserve their wealth.
We can’t know for sure that Satoshi picked April 5 as birthday for that reason, but the Bitcoin creator was interested in monetary history and concerned about the power of individuals to preserve their wealth and keep it safe from state intervention.
It remains a core motivator of Bitcoin’s supporters to this day, because this time is different.
This time we have something much better than gold, that cannot be stolen easily and can even be taken to the afterlife. It's just math.
#Bitcoin 21>79 #Gold