5 Comments

  1. Ed K

    “Bitcoin is now less a currency than a kind of risky bond
    for which the issuers bear no responsibility. Investors
    should be aware that the situation is ripe for abuse.”

    Do I hear Bernie Madoff?

    Sounds like mafia?

    Do I hear P. T. Barnum, “Sucker born every day and two to take them.”

    May I remind some that Alexander Solzhenitsyn wrote much
    under adverse conditions? Maybe with the Bit Coin crash we
    may now get a manuscript?

    Praise the lord and sing hallelujah!

    Reply
  2. Roman

    I think the best metaphor for understanding bitcoin is a decentralized ledger which is beyond the control of any central authority.

    This. Is. Huge.

    Reply
  3. Ed K

    It was said, ” best metaphor for understanding bitcoin
    is a decentralized ledger which is beyond the control of
    any central authority. ”

    Said like a true Libertarian. Unfortunately human guise
    and cunning and ingenuity require a sheriff. There will
    always be some guy trying to beat the system. And there
    will be some guy who finds the way to beat the system.

    Some are intrinsically evil. Some are inherently lazy.
    Honesty and integrity are not the majority.

    So, to protect you, a sheriff is needed. And, there
    must be a way to keep the sheriff honest.

    And a way must be found to get some production out
    of an idealistic dreamer, yes?

    Reply
    1. Roman

      Better an armed society than a police force. I like the idea of a Sheriff, though, as a locally appointed authority in contrast with one imposed from a central authority.

      Reply

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