Capitalism's logical conclusion is always the same.

Some top comments from youtube:

"Perfect example of second amendment in action. Where were the cops when the honest taxpaying Korean-Americans need them?
Thank god, those Korean men probably have had military training, and their fathers probably were Korean War GIs. It's good that they teach those looting bastards a lesson."

"The Koreans were the true Americans that day. Instead of looting like all the other filth, they stood by their establishment and upheld the second amendment to protect their business from the trash.
I cant believe people actually want to take that right away....the right to be able to defend yourself."

Shooting to kill unarmed people for stealing shoes. Judge, jury, and executioner. True Americans indeed.

Jailtime for this is an absurd injustice. This is small fries, it should be a slap on the wrist fine - $15,000 at most.

"Before capitalism, there were other ways. Feudalism was what existed in Europe for a thousand years before we had modern capitalism. And before that, slavery - yet another system - another way of organizing who does the work and who gets the profits and so on. And the interesting thing is that every other system that we have a record of in the human race, was born, evolved over time, and eventually passed away. What always has intrigued me, is the need for those people living in capitalism today, to think it's going to be the great exception. It was born, basically in England 300 years ago, it has evolved over the last three centuries. But when you say, "yes, but that means it will also pass away and give rise to another system", people get all kinds of strange worries because they don't want to think about that.

And so they begin to imagine that this system will be forever, in a way no other system in history has proved itself to be."
-Dr. Wolff

"And our resistance to any challenge to capitalism is ferocious in the United States. I mean the essence of the Cold War in our lifetimes is not the Soviets were intrinsically evil, it was that the Soviets practice an economic system called Communism, and that represents an existential threat to the United States, to our way of life, and to everything that we hold dear and believe to be true. And so it was really a battle over an economic system."
-Thom Hartmann

"Absolutely, I think the important things to remember are these. Before World War II, that is before the cold war that started after '45 got going, Americans were able to discuss capitalism as a system, socialism and communism as some of the various alternatives and so on. It didn't seem to threaten our society at least for large numbers of our people, to have a conversation, to assess the strengths and weaknesses of different systems. To be kind of rational adults talking about this question. And even after 1945 in places like France or Germany or Italy or many other countries that we are close to, socialist parties thrived. The French government today is a socialist government. Socialists are part of governments in many European countries, didn't seem to fall apart in Europe. It was something rational people could talk about.

But here in the United States, it became a taboo. Since 1945, what you did is you shut down the debate. You made it no longer a question of discussing systems, trying to see if we could do better than capitalism in part - all of that became impossible. To question capitalism, let alone to explore the alternatives took on the aura of an act of disloyalty. It was wonderful for the capitalists, because it basically proscribed any kind of debate or discussion or criticism as beyond the pale. We are only NOW, fifty years into the taboo, finally coming out of the kind of funk that we were in as a nation. Now that we see how poorly the capitalist system serves the majority of people in the US, slowly we are emerging back to the place we should never have left - which is an open honest debate and discussion about the alternatives systems  past, present, and future - that will shape how we live as a people."
-Dr. Wolff

------------------------

This is precisely what I mean when I use the term "economic fundamentalism". You can see the logical leaps a person must make to believe capitalism is the be-all end-all of economics. This is what makes it a close cousin to religious fundamentalism.

Conversations with Great Minds part 1 - Dr. Richard Wolff with Thom Hartmann

Conversations with Great Minds part 2

Bitcoin to the moon, you say?

That is correct.

Bitcoin is in fact highly anti-fragile.

Not when you're searching desperately for myths and untruths to support your economic fundamentalist thinking.

Contrast Hearn's statements with Andreas's here.

-Andreas Antonopoulos

and with Jeff Garzik's TED talk, Bitcoin the Organism

In fact capitalism depends upon the illogical madness of economics (a pseudo-science) and a total lack of applied ethics to be successful in any measurable way. 

Hoarders Give Bitcoin Value

The initial price of bitcoin was caused by people who wanted to hold it, not people who wanted to spend it. Furthermore, each subsequent step in Bitcoin’s advance must begin with more holders, not more spenders. The business that bitcoins can absorb is limited by its market cap. At a market cap of two or three billion dollars, Bitcoin can absorb many small businesses but it cannot be used for international oil trade. It would have to be dozens of times more expensive for that, and it can only achieve that if the peoples’ desire to hold bitcoins continues to increase faster than their desire to spend them. Thus, one who wants Bitcoin to become mainstream should never want its price to be lower. He should want an ever-increasing supply of hoarders.

It is true that Bitcoin’s price can occasionally and temporarily outpace the growth in its real prospects, but this is merely a byproduct of Bitcoin’s phenomenal success. A commodity which increases in price as quickly as bitcoins can be expected to experience shocks and manias on its way up because it would be difficult to tell the difference between a sustainable price increase and short-term speculation. However, does it make really sense to prefer an alternative history for Bitcoin in which its price has increased slowly enough that it never developed any manias? I do not see how that could possibly be preferable. The faster Bitcoin grows, the more complete and decisive will be its victories, and the more difficult it will be for its natural enemies to react to it.

http://themisescircle.org/blog/2014/02/12/im-hoarding-bitcoins-and-no-you-cant-have-any/

If you think it's a viable idea, you are free to create your own altcoin implemented it. Best of luck.

They're from planet "we print the money in this town, and we give it to our criminal bankster pals. DON'T GO PRINTING YOUR OWN MONEY BEHIND OUR BACKS YOU FUCKWITS, WE'RE THE FUCKIN MAFIA!"

Exactly, it's not about justice, it's about setting an intimidating example in a futile attempt to scare people away from both dark markets and bitcoin. It won't work.

Nothing except the other decentralization of an existing centralized system, AKA the internet, when it replaced the aging dinosaur Telecommunications industry over the course of 15 years.

http://en.wikipedia.org/wiki/History_of_the_Internet

The internet is the ONLY technology it makes sense to compare Bitcoin with.

1. That is a list of quotes from people who guessed the future WRONG.

2. Guessing is for people without strong observation and deduction skills.

So true. When the state is out to make an example (and we know they are), it's not going to turn out well if you try to fight it. Let them make their example in a way that minimizes the destruction wreaked on your life, and move on. Bitcoin will be fine.

Sooner or later their misdeeds will come back around to bite them in the ass, it is the way of the world. No tyranny can continue forever.

I made no such comparison.

QFT



Of course the fools of the world can't see the forest through the trees! It's way too early for most of those near the median of the IQ bell curve. They'll come around sooner or later, when their nation's fiat is collapsing under the weight of inflation and/or debt-crisis.

This 'telephone' has too many shortcomings to be seriously considered as a means of communication. The device is inherently of no value to us."
-- Western Union internal memo, 1876.

"The wireless music box has no imaginable commercial value. Who would pay for a message sent to nobody in particular?"
-- David Sarnoff's associates in response to his urgings for investment in the radio in the 1920s.

"The concept is interesting and well-formed, but in order to earn better than a 'C,' the idea must be feasible."
-- A Yale University management professor in response to Fred Smith's paper proposing reliable overnight delivery service. (Smith went on to found Federal Express Corp.)

"Who the h*** wants to hear actors talk?"
-- H.M. Warner, Warner Brothers, 1927

"I'm just glad it'll be Clark Gable who's falling on his face and not Gary Cooper."
-- Gary Cooper, on his decision to not take the leading role in "Gone With The Wind."

"A cookie store is a bad idea. Besides, the market research reports say America likes crispy cookies, not soft and chewy cookies like you make."
-- Response to Debbi Fields' idea of starting Mrs. Fields' Cookies.

"We don't like their sound, and guitar music is on the way out."
-- Decca Recording Co. rejecting the Beatles, 1962.

"Heavier-than-air flying machines are impossible." -- Lord Kelvin, president, Royal Society, 1895.

"If I had thought about it, I wouldn't have done the experiment. The literature was full of examples that said you can't do this."
-- Spencer Silver on the work that led to the unique adhesives for 3-M "Post-It" Notepads.

"So we went to Atari and said, 'Hey, we've got this amazing thing, even built with some of your parts, and what do you think about funding us? Or we'll give it to you. We just want to do it. Pay our salary, we'll come work for you.' And they said, 'No.' So then we went to Hewlett-Packard, and they said, 'Hey, we don't need you. You haven't got through college yet.'"
-- Apple Computer Inc. founder Steve Jobs on attempts to get Atari and H-P interested in his and Steve Wozniak's personal computer.

"Professor Goddard does not know the relation between action and reaction and the need to have something better than a vacuum against which to react. He seems to lack the basic knowledge ladled out daily in high schools."
-- 1921 New York Times editorial about Robert Goddard's revolutionary rocket work.

"You want to have consistent and uniform muscle development across all of your muscles? It can't be done. It's just a fact of life. You just have to accept inconsistent muscle development as an unalterable condition of weight training."
-- Response to Arthur Jones, who solved the "unsolvable" problem by inventing Nautilus.

"Drill for oil? You mean drill into the ground to try and find oil? You're crazy."
-- Drillers whom Edwin L. Drake tried to enlist in his project to drill for oil in 1859.

"Stocks have reached what looks like a permanently high plateau."
-- Irving Fisher, Professor of Economics, Yale University, 1929.

"Airplanes are interesting toys but of no military value."
-- Marechal Ferdinand Foch, Professor of Strategy, Ecole Superieure de Guerre.

"Everything that can be invented has been invented."
-- Charles H. Duell, Commissioner, U.S. Office of Patents, 1899.

"Louis Pasteur's theory of germs is ridiculous fiction".
-- Pierre Pachet, Professor of Physiology at Toulouse, 1872

"The abdomen, the chest, and the brain will forever be shut from the intrusion of the wise and humane surgeon".
-- Sir John Eric Ericksen, British surgeon, appointed Surgeon-Extraordinary to Queen Victoria 1873.

"No flying machine will ever fly from New York to Paris."
-- Orville Wright.

"When others are greedy, be fearful. When others are fearful, be greedy."
-Warren Buffet

I'd rather be dead. I'm not alone.

Supply and demand; people speculating on near and medium-term future value of the asset.  

The smartest people in the room are doing precisely that. Although in 10 years you won't need to sell it, you'll just use it.

As for the rest, it's fear, mostly. Also, food and rent can't be paid in bitcoin yet.

Hah. Not likely.