Tuesday, April 9, 2013

Exceedingly Stale Commentary on Bitcoin

If some libertarian-tinged, anti-government separatists with crackpot views on monetary policy decided they would set up an alternate currency backed by ... I dunno, rare seeds ... and start using it in the Interior West (Eastern Montana, Utah, Wyoming, Western South Dakota & North Dakota, etc.) to engage in anonymous, untraceable financial transactions, including illegal activity and semi-organized crime, and the total size of the market were a few hundred million or maybe $1 billion, we would either not notice or not care.

However, because the motherfuckers who came up with Bitcoin are "technologists" who are trying to "disrupt the status quo", people take them seriously.

The extent to which this lesson applies in other fields (education, transportation, etc.) is left as an exercise for the reader.
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