RE: LeoThread 2025-04-01 13:00
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Before the Bitcoin network was brought online in 2009, there was something called e-gold (electronic gold). It was backed by physical gold and used in the way you described. For various reasons, the e-gold network went offline by 2009.
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Because it was centralized! And the bankers probably didn't like it haha
Crypto networks cannot be shutdown because there is no custodian or single point of failure :)
Not all crypto networks R decentralized. BNB & Binance Smart Coin come to mind. Then there R the crypto networks of that guy whose name may as well be Voldemort.
As for E-gold, that network violated numerous USG regulations, including AML.