But why did the pound (or the dollar which replaced it) emerged in the first place? People realized what you are saying 400 years ago. It is not a deep or new

But why did the pound (or the dollar which replaced it) emerged in the first place? People realized what you are saying 400 years ago. It is not a deep or new insight just because bitcoin emerged. Just because tech allows you to create a store of value doesnt mean people needed tech to produce their own stores or value in the past. We already had the Free Banking system where anyone could print their own store of value. Guess what happened? Whether it was France or US or British India the same story plays out. All this has already happened. Read some history of money. There is a reason central banks and centralized currencies emerged world wide. The Free Banking systems failed.