Bitcoin Forum

I know you're out there. I can feel you now. I know that you're afraid... you're afraid of us.
You're afraid of change. I don't know the future. I didn't come here to tell you how this is going to
end. I came here to tell you how it's going to begin.
I'm going to hang up this phone, and then I'm going to show these people what you don't want them to see. I'm going to show them a world without
you. A world without rules and controls, without borders or boundaries. A world where anything is
possible. Where we go from there is a choice I leave to you.

The first part was EPIC! It's the greatest metaphor to the way we live.

The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.

A generation ago, multi-user time-sharing computer systems had a similar problem. Before strong encryption, users had to rely on password protection to secure their files, placing trust in the system administrator to keep their information private. Privacy could always be overridden by the admin based on his judgment call weighing the principle of privacy against other concerns, or at the behest of his superiors. Then strong encryption became available to the masses, and trust was no longer required. Data could be secured in a way that was physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter what.

It's time we had the same thing for money. With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless.

I just got back from a trip after a hit of some real space weed (salvia divinorum) and those words are like magic.

LMFAO!  I bet your rig was working hard so you could enjoy some salvias.