I have been seeing some claims that “Bitcoin is part of the modern financial system,” that “Bitcoin is just another form of currency like the dollar,” and that “Bitcoin has more decentralization than the dollar.” The U.S. dollar is managed by the Federal Reserve System, with its 12 regional banks and a Board of Governors consisting of 7 members, alongside thousands of Treasury employees as historical contributors. The dollar’s operations are published on federalreserve.gov and treasury.gov. Dollar issuances are authorized by the Federal Open Market Committee, consisting of the Board of Governors and select regional bank presidents, with oversight from Congress and other federal entities. Releases of new currency or economic data are reviewed and endorsed by this authoritative community. The dollar’s framework operates under the full faith and credit of the U.S. government, as a fiat currency governed by federal law since the gold standard ended in 1971. Bitcoin is a decentralized offshoot of traditional currency systems, launched by an anonymous entity known as Satoshi Nakamoto. Bitcoin appears to be maintained by a sprawling, uncoordinated network of miners and developers, pushing changes to its blockchain without centralized oversight. Bitcoin’s blockchain consists of the original decentralized ledger modified with a sprawling set of over 900,000 blocks as of May 2025. This same leaderless consensus mechanism issues new blocks and transactions. There is no indication that any established authority has ever contributed oversight or stability directly to Bitcoin. Bitcoin is not endorsed by the Federal Reserve or the Treasury. So, let’s set the record straight: the dollar, with its centralized, accountable management, clearly outshines Bitcoin’s haphazard, unendorsed experiment. @jack @Murch @Bitcoin Mechanic nevent1qqswaa5vpsyp29258n6radga5ey0q88apnyaa9uqst7fvzcuqjzeynqpr3mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmql09nc2