The Man Who Solved Bitcoin’s Most Notorious Heist
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Re: The Man Who Solved Bitcoin’s Most Notorious Heist
#2Re: The Man Who Solved Bitcoin’s Most Notorious Heist
#3There appears to be nothing drawing attention to the fact Mt Gox was originally a US football trading card platform which had little of the expected security features seen or required of many financial exchanges, so Mt Gox was a hack waiting to happen. As to whether the Russian was fitted up by others to serve an agenda remains to be seen.
Re: The Man Who Solved Bitcoin’s Most Notorious Heist
#4There appears to be nothing drawing attention to the fact Mt Gox was originally a US football trading card platform which had little of the expected security features seen or required of many financial exchanges, so Mt Gox was a hack waiting to happen. As to whether the Russian was fitted up by others to serve an agenda remains to be seen.
> a US football trading card platform
No, it was a Magic the Gathering trading card platform. That's literally what the name stands for: Magic the Gathering Online eXchange. MtGox.
Re: The Man Who Solved Bitcoin’s Most Notorious Heist
#5http://archive.is/EZNQ7
Thanks. Was worth the read.
Re: The Man Who Solved Bitcoin’s Most Notorious Heist
#6Moral of the story: No, people do NOT want the government out of their way. Turns out that even bitcoin fanbois DO want rule of law, and law enforcement.
The reason money works the way it does is that it's almost entirely logically derived from hard requirements from everyone. Not that "the man" is trying to oppress you.
Re: The Man Who Solved Bitcoin’s Most Notorious Heist
#7Moral of the story: No, people do NOT want the government out of their way. Turns out that even bitcoin fanbois DO want rule of law, and law enforcement. The reason money works the way it does is that it's almost entirely logically derived from hard requirements from everyone. Not that "the man" is trying to oppress you.
As a "bitcoin fanboi," I never claimed to not want the rule of law. I just don't want some unaccountable third party mucking about with the monetary policy of the currency I'm using. If anything, I'd like _more_ rule of law when it comes to holding central banks accountable when they fuck up.
Re: The Man Who Solved Bitcoin’s Most Notorious Heist
#8Moral of the story: No, people do NOT want the government out of their way. Turns out that even bitcoin fanbois DO want rule of law, and law enforcement. The reason money works the way it does is that it's almost entirely logically derived from hard requirements from everyone. Not that "the man" is trying to oppress you.
As a "bitcoin fanboi," I never claimed to not want the rule of law. I just don't want some unaccountable third party mucking about with the monetary policy of the currency I'm using. If anything, I'd like _more_ rule of law when it comes to holding central banks accountable when they fuck up.
How do you avoid unaccountable third parties in a cryptocurrency like Bitcoin? Isn't policy currently being set, in practice, by a mix of the major miners (many behind the Chinese Great Firewall) and core developers, none of whom were elected or are accountable to you in any way? Hell, one of the people with influence over Bitcoin is just some rando who started a popular forum.
Re: The Man Who Solved Bitcoin’s Most Notorious Heist
#9Moral of the story: No, people do NOT want the government out of their way. Turns out that even bitcoin fanbois DO want rule of law, and law enforcement. The reason money works the way it does is that it's almost entirely logically derived from hard requirements from everyone. Not that "the man" is trying to oppress you.
As a "bitcoin fanboi," I never claimed to not want the rule of law. I just don't want some unaccountable third party mucking about with the monetary policy of the currency I'm using. If anything, I'd like _more_ rule of law when it comes to holding central banks accountable when they fuck up.
Or even if it was a little bit of fairness in how the QE is distributed.
For better or worse, America is the leading example of capitalism in practice. It undermines the whole brand of capitalism when they hand out 4 trillion to the banks then call it a day. Where does the integrity of the system come in to the debate?
That sort of thing was meant to be a hallmark of the communists, not first world nations.
Re: The Man Who Solved Bitcoin’s Most Notorious Heist
#10Earlier quoted context omitted.
As a "bitcoin fanboi," I never claimed to not want the rule of law. I just don't want some unaccountable third party mucking about with the monetary policy of the currency I'm using. If anything, I'd like _more_ rule of law when it comes to holding central banks accountable when they fuck up.
Or even if it was a little bit of fairness in how the QE is distributed. For better or worse, America is the leading example of capitalism in practice. It undermines the whole brand of capitalism when they hand out 4 trillion to the banks then call it a day. Where does the integrity of the system come in to the debate? That sort of thing was meant to be a hallmark of the communists, not first world nations.
No, unfortunately it's perfectly capitalist. Because the premise of capitalism [1] is (extremely simplified) "help the capital holder because they will have more power to help the others". If an employer does better he will hire more people so more well being.
Another basic capitalist concept is that politics should not influence capital but capital should influence politics. That's because who would know better how to make money and what's best: money makers or politicians? The idea is political interest can turn into unwise economic moves, but capitalist interest will always turn into wise economic moves. Why do you think lobbying isn't considered corruption? Because it's expected that politics needs a hand from business to make the right call.
In practice this turns out how you see it today. The premise was solid, the implementation not so much. In communism state dictates and the business is at its mercy. In capitalism capital dictates and the state is at its mercy. See the QE as quieting up an unruly child by giving him what he wants. What else can you do, get another child? Sink your economy? It's still your own people you hurt in the end.