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Originally Posted by NEW XTC
I don't claim to know that Bitcoin will shoot to the moon and prevail - but it's hard to even discuss it without bombastic "opinions" barging in with negativity. I like a good debate and I'm always open and flexible - but it's tiresome to hear from people who don't do any research...only regurgitation.
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2 of the 5 members of the Bitcoin Foundation have had to resign within the past two months because they are in serious trouble for alleged illegal activities (the Vice-Chairmen was arrested on a number of criminal charges, including money laundering), and massive breaches of trust, leading to lawsuits, and the collapse of a major bitcoin institution (Mt Gox, once the largest place for exchanging bitcoins, is alleged to have lost as much as hundreds of millions of dollars before having to shut down a few days ago):
Charles Shrem (Resigned 28 January, 2014)
Mark Karpeles (Resigned 24 February, 2014)
There is something wrong, almost psychopathic, when bitcoin devotees simply shrug their shoulders as criminal issues arise at the top of the industry that they claim to be so pure, and above moral/ethical reproach.
It doesn't help that so many proponents of btc sound like snake oil con artists trying to dupe people with a miracle cure.
I would argue it is far more bombastic to shout a battle cry to charge full speed ahead and invest in the highly speculative and volatile bitcoin crypto-currency, even as it is suffering massive losses, the infrastructure is cracking, and governments turn on it.
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BitCoin looks like it was designed as a weapon intended to damage central banking and money issuing banks, with a Libertarian political agenda in mind?to damage states ability to collect tax and monitor their citizens financial transactions.
Which is fine if you're a Libertarian, but I tend to take the stance that Libertarianism is like Leninism: a fascinating, internally consistent political theory with some good underlying points that, regrettably, makes prescriptions about how to run human society that can only work if we replace real messy human beings with frictionless spherical humanoids of uniform density (because it relies on simplifying assumptions about human behaviour which are unfortunately wrong).
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When bitcoin defenders only retort is to personally attack and try to scorn anyone that offers up legitimate criticisms of their beloved science fiction/libertarian pipe dream, they have already lost the argument.
ADG