Have you ever heard of Liberty Dollar (ALD) ? It was a private currency, created by Bernard von NotHaus that was backed by a specific weight in precious metals. Their offices were raided by the FBI and the U.S. Secret Service (USSS) on November 14, 2007.

Have you ever heard for this man?

Bernard von Nothaus created the Liberty Dollar, a private currency system started in 1998.

Bernard created a private (not like Monero, but private as being issued by a private entity, or a business) currency that was backed by precious metals. Mostly gold, silver, even platinum and copper.

For example, $20 Liberty Dollars were set to be one ounce of silver.

Liberty dollar carried a US face value, you were able to exchange it for US dollar and it was including not just paper but also minted coins.

As it was getting popular and more and more people got in, it attracted the attention of authorities.

In 2007, FBI launched a raid against the company, seized the liberty dollars and the precious metals and computers where information was stored. Liberty Dollar bank accounts were frozend and their website was shut down. Bernard Von NotHaus was convicted for several crimes that were related to creating his own coins, and one count of conspiracy.

Bernard von NotHaus and his liberty dollars

ALD (American Liberty Dollar) certificates were "warehouse receipts" for real gold and silver owned by the bearer.

When raided, authorities tried to obtain government ownership of an estimated $7 million in “Liberty Dollars” and silver bullion seized as contraband at a private mint in Coeur d’Alene. On March 18, 2011, von NotHaus was convicted of "making, possessing and selling his own coins".

According to the court, there were around 250,000 holders of Liberty Dollar certificates.

In May 2009, von NotHaus and others were charged with federal crimes in connection with the Liberty Dollar. On July 31, 2009, von NotHaus announced that he had closed the Liberty Dollar operation, waiting for resolution of the criminal charges.

On March 18, 2011, von NotHaus was pronounced guilty of "making coins resembling and similar to United States coins".

Remember that $7 million in metals? Well, in late 2014, a U.S. District Court judge ruled that Liberty Dollars seized in the 2007 FBI/USSS operation should be returned to their owners.

There are still fans of his dollar that are still holding it.

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What do you think, what would happen if Satoshi wasn't anonymous and behaved like Bernard?