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To: Kaslin
The Open Source "no single person in charge" paradigm might work for developing software, but not much else.

Open Source software works because people ultimately use or don't use the software. It either works or it doesn't. It is found to have flaws or viruses in it, or not. Over time good Open Source software succeeds and bad Open Source software fails.

Bitcoin is like an Open Source currency. There is no Central Bank or nation regulating it. But Bitcoin, like all currencies today, doesn't have any intrinsic value. The only thing Bitcoin has that distinguishes it from other currencies is some algorithm defining how much new Bit coinage can be brought into existence. Let's say a bunch of different groups created computer currencies and competed to create the "best" to attract people to use their currency over other people's currencies. What would they do to make theirs better?

The only thing that would make me prefer one currency over another is if a specific group of people stood up and said we guarantee the value of this currency. We will protect this currency. Why would I give my trust to a currency created by someone with an alias and that's being held up by a group of rather shady organizations with little transparency?

However pathetic the US is today, we do have millions of people going to work every day and creating wealth, paying taxes, etc. This suggests that over time the dollar will still have some value. However non-transparent the workings of the Fed are, they do have to report to Congress on a regular basis, they publish their findings, they make public pronouncements, etc.

How far did the Open Source Occupy movement go? Not far because no one wanted there to be any leaders.

How successful has the Tea Party been? A bit more successful, but only because there are some Tea Party members who have stood up and become leaders such as Cruz.

If the Tea Party had gotten no one into elective office and was just a bunch of people gathering regularly to wave signs at politicians then what little it has achieved wouldn't have gotten accomplished either.

With all do respect, years of continuous Freeping in front of the White House didn't get Clinton out of office any earlier and certainly didn't taint his brand in the eyes of the world.

Sometimes you have to fight fire with fire. Currency backed by real people with currency backed by real people. Politicians with politicians.

Bitcoin is tulip bulbs. Bitcoin is a scam. The scammers made their money. There are suckers out there that don't want to be the last suckers. They are trying desperately to unload bitcoins to the last suckers.

16 posted on 03/01/2014 8:06:00 AM PST by who_would_fardels_bear
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To: who_would_fardels_bear

The stuff found in rusty tins by a California couple recently was real money.


18 posted on 03/01/2014 8:07:48 AM PST by SpaceBar
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