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from Wikipedia: The Waldensians or Vaudois are a Protestant Christian denomination believing in poverty and austerity, founded around 1173, promoting true poverty, public preaching and the literal interpretation of the scriptures. Declared heretical, the movement was brutally persecuted by the Roman Catholic Church during the 12th and 13th centuries and nearly totally destroyed, but the Waldensian Church survives to this day. <<
Often the Waldensians are cited by Protestants as examples of a continuing "true church," to counter the notion that Protestantism is a modernism. The problem is that Waldensians were harsh ascetics, who, though iconoclasts like many modern Protestants, also held many ideas that Protestants would consider downright apostatic.