2013-05-21 Could an Inside Sneak Attack on Bitcoin Destroy It?

[Dusty]

http://www.freemansperspective.com/bitcoin-inside-attack/

This is important.

I’ve been warning about an outside attack on Bitcoin for some time, but the biggest threat may come from inside: from people who profess to love Bitcoin.

The people I’m talking about don’t love Bitcoin itself, and they don’t love the freedom it brings, no matter what they say. Instead they love the money they hope to make by becoming the new techno-riche: successors to Zuckerberg, Gates and the rest. (Yes, that’s an unfair thing for me to say, but I’d also be willing to bet large on it.)

The people I refer to are a neo-plutocracy — insiders who wish to institutionalise Bitcoin, making billions for themselves while turning it into just another version of PayPal.

[The Bitcoin Catalog]

Does he speaking about the bitcoin foundation??

[eric345]

Yep, he is.

[BalkanBoy]

If relegating bitcoin to a low cost paypal is going to "destroy" it, then ripple's already done that (aside of the 'small matter' of it being closed source).

the point of bitcoin to everyone who portrays him or herself as "anti-stablishment", "anarcho-libertarian" or whatever moniker you wish to use is that you are able to wield an order of magnitude more anonymous purchasing power than cash, at very large distances... for purposes that require ultimate personal responsibility - the libertarian pipe dream, so to speak.  

the problem is, which government partially solves only, people will do -anything- to avoid being held responsible.

last but not least, responsibility outside of a morally imperative context, does not compute.

[BTCLuke]

Paul Rosenberg is a brilliant man and one of the world's best historians.

If he believes the foundation is driving bitcoin straight into the feds leash, then I'm deeply worried.

Looks like alt-coins are going to be worth a bit more in the future... 

[Quantus]

The Bitcoin foundation plays a key roll in leadership and counsel, program developers who advise the community and are a focal point for consensus and debate. Why with out them Bitcoin would be lost.
There are real challenges they face every day and they take their jobs very seriously with complete humility with out any financial gain what so ever!  


This is what people actually believe. lol

Satire really needs its own font.

[TraderTimm]

Anyone who thinks Bitcoin can be "tamed" is missing the big picture. But of course, this entire forum is mostly powered by drama and inaccurate theories, so no big surprise there.

It doesn't matter what the Bitcoin Foundation does, it doesn't matter if they hire a lobbyist, make their own press contact list, whatever.

What matters is the client that you are running right now, and the collective power of the network itself.