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Old 02-26-2014, 10:26 AM  
ruff
I have a plan
 
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Join Date: Aug 2004
Location: Seattle - Miami - St Kitts
Posts: 5,432
Quote:
Originally Posted by AsianDivaGirlsWebDude View Post


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.



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
Did you not notice all the banks that ripped everyone off the last few years? How about the hedgefunds? These were legitimate businesses insufficiently regulated by the governments. They were allowed to rip off thousands of homeowners and setup a real estate bubble that ruined thousands of people and enriched just a few. Now how many of these executives went to prison? So Bitcoin has a couple of bad apples, the real trouble is Wall Street. Clean up there before crying about Bitcoin.
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