Cryptocurrency Q&A
Why are bitcoiners referencing Executive Order 6102?
Why are bitcoiners referencing Executive Order 6102?
SakuraSpirit
Sat Dec 21 2024
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5 answers
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Bitcoiners are referencing Executive Order 6102 due to its historical significance in relation to government control over private ownership of gold. The order, signed by President Roosevelt in 1933, prohibited the private hoarding of gold and forced citizens to sell their gold to the government. Bitcoiners see parallels between this historical event and the potential for government interference in the cryptocurrency market, and they view Bitcoin as a way to protect their financial freedom and sovereignty.
5 answers
WhisperWindLight
Mon Dec 23 2024
Bitcoin enthusiasts often invoke Executive Order 6102 to emphasize the superiority of Proof of Work as a design for decentralized money.
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CoinPrince
Mon Dec 23 2024
The golden rule of custody, which states "not your keys, not your coins," encourages individuals to maintain control over their private keys.
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Margherita
Mon Dec 23 2024
This order, which prohibited the hoarding of gold coins, bars, and certificates by individuals, is seen as a historical example of government interference in monetary systems.
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GwanghwamunPride
Mon Dec 23 2024
By referencing it, Bitcoiners argue that alternative decentralized money designs may be vulnerable to similar censorship measures.
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CryptoWanderer
Mon Dec 23 2024
They further emphasize the importance of the golden rule of custody in safeguarding against potential confiscation.
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