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Title: An investor will like every bit of it.... Post by: oakpacific on March 12, 2013, 03:15:03 AM You know what would a bankster do when he finds out there is something seriously wrong with their new transaction system? He will try to hide it, he will try to do everything to make sure this information doesn't get outside, he doesn't want his stock price to drop, he doesn't want his investors to lose their confidence. But you can't always stop the information/rumors from spreading, your investors will somehow get to find out a bit about it here and there, this gives them uncertainty, and their greatest hatred is uncertainty.
Now let's face it, the investors are not idiots, no one is an idiot. We all know very well there never was and never will be a error-free system in the world, and a crisis is doomed to strike you sometime, the important thing is how the people behind the system handle it. In the bitcoin world, the bug itself and the way people handle it is clearly visible, everything is transparent, everything is there for everyone to see, investors will get no uncertainty, they can figure out exactly how much their risk is in such a situation(which is not big, by the way), if they are willing to take things into their own hands and not succumb to panic. They will like a system like that, and a system like that will prevail in the end. Title: Re: An investor will like every bit of it.... Post by: Piper67 on March 12, 2013, 03:19:04 AM You know what would a bankster do when he finds out there is something seriously wrong with their new transaction system? He will try to hide it, he will try to do everything to make sure this information doesn't get outside, he doesn't want his stock price to drop, he doesn't want his investors to lose their confidence. But you can't always stop the information/rumors from spreading, your investors will somehow get to find out a bit about it here and there, this gives them uncertainty, and their greatest hatred is uncertainty. Now let's face it, the investors are not idiots, no one is an idiot. We all know very well there never was and never will be a error-free system in the world, and a crisis is doomed to strike you sometime, the important thing is how the people behind the system handle it. and in the bitcoin world, the bug itself and the way people handle it is clearly visible, everything is transparent, everything is there for everyone to see, investors will get no uncertainty, they can figure out exactly how much their risk is in such a situation(which is not big, by the way), if they are willing to take things into their own hands and not succumb to panic. They will like a system like that, and a system like that will prevail in the end. That's a bit optimistic of you. However, this is what an investor would like (if they bothered to understand it): even after just about the worst thing that could happen dud happen, the whole issue was resolved in a matter of hours, with no significant loss. Try that with any other currency, commodity or processing system! Title: Re: An investor will like every bit of it.... Post by: oakpacific on March 12, 2013, 03:21:05 AM You know what would a bankster do when he finds out there is something seriously wrong with their new transaction system? He will try to hide it, he will try to do everything to make sure this information doesn't get outside, he doesn't want his stock price to drop, he doesn't want his investors to lose their confidence. But you can't always stop the information/rumors from spreading, your investors will somehow get to find out a bit about it here and there, this gives them uncertainty, and their greatest hatred is uncertainty. Now let's face it, the investors are not idiots, no one is an idiot. We all know very well there never was and never will be a error-free system in the world, and a crisis is doomed to strike you sometime, the important thing is how the people behind the system handle it. and in the bitcoin world, the bug itself and the way people handle it is clearly visible, everything is transparent, everything is there for everyone to see, investors will get no uncertainty, they can figure out exactly how much their risk is in such a situation(which is not big, by the way), if they are willing to take things into their own hands and not succumb to panic. They will like a system like that, and a system like that will prevail in the end. That's a bit optimistic of you. However, this is what an investor would like (if they bothered to understand it): even after just about the worst thing that could happen dud happen, the whole issue was resolved in a matter of hours, with no significant loss. Try that with any other currency, commodity or processing system! I am actually trying to sound optimistic. ;) OK, but rhetorics aside, if we really believe in an open transparent system is what we want in the end, we should learn to deal with things like that as they are inevitable, or let's all just hide in the grand nanny's basement forever. Title: Re: An investor will like every bit of it.... Post by: Cluster2k on March 12, 2013, 03:25:10 AM Optimistic view: Problem noticed after code was released. Action quickly taken to resolve problem and community made aware of it.
Pessimistic view: Problem causes speculators and investors to panic and dump bitcoin's price by 25% instantly. Extreme volatility due to bug in software (not retaining full compatibility with previous releases is a bug, even if the new version is 'fixed' to remedy old problems thus causing new ones). Either way it's not a welcome event. Title: Re: An investor will like every bit of it.... Post by: oakpacific on March 12, 2013, 03:27:02 AM Optimistic view: Problem noticed after code was released. Action quickly taken to resolve problem and community made aware of it. Pessimistic view: Problem causes speculators and investors to panic and dump bitcoin's price by 25% instantly. Extreme volatility due to bug in software (not retaining full compatibility with previous releases is a bug, even if the new version is 'fixed' to remedy old problems thus causing new ones). Either way it's not a welcome event. An open and transparent system is only useful when shit happens. Title: Re: An investor will like every bit of it.... Post by: Odalv on March 12, 2013, 07:57:05 PM It would be fine, if there are at least 3 different clients. I hope some company will invest in development soon.
Title: Re: An investor will like every bit of it.... Post by: oakpacific on March 13, 2013, 01:23:51 AM It would be fine, if there are at least 3 different clients. I hope some company will invest in development soon. Yes, it's more like the current network is created to demonstrate to people out there the potential of bitcoin, the decentralization may not be enough if all big guys around are good buddies hanging out together. |