On May 23, 2014, a few days after Credit Suisse pled guilty in a $2.6 billion settlement, Edmund Moy, Director of the United States Mint between 2006 to 2011, had an epiphany. Seeing public statements from the bank’s chief executive, Brady W. Dougan, hours after the charges were announced — criminal charges for a conspiracy that helped their wealthiest clients evade American taxes for decades — which said the fine “won’t do much damage,” Moy wrote on X, “It's time banks got competition.”

The experience inspired him to write “The Currency Revolution, Courtesy of Bitcoin,” and to articulate a philosophy that put Bitcoin at the center of a movement he recognized as having the ultimate aim of disrupting money, payments, and all areas of finance. Through his own experience in the financial establishment, Moy started to believe Bitcoin could disrupt “traditional notions” of currencies, banking, and financial technology as a whole by ushering in a permissionless, decentralized financial system.

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