25 Jul '12, 10pm

The Block-Chain of infinite mystery: What the hell is #Bitcoin? via @Suitpossum

The Block-Chain of infinite mystery: What the hell is #Bitcoin? via @Suitpossum

Let me explain. Imagine a group of researchers at MIT said "Hey guys, we’ve invented a cool new crypto-currency that is decentralised and resilient. Do you want to try it?" Maybe some people would take them up on that, but it would have no mystery, no intrigue, no dark story about mafia and the CIA. Now imagine that instead of that, a mysterious dude with no traceable identity releases strange tracts onto the web, describing a new currency, and then disappears. That’s exactly what Satoshi did, and it’s the very mystery of his story that makes people want to take part in the first place. It gives the currency soul , and that’s crucial because currency that is not legally mandated needs to be imbued with soul in order to start working. That’s one reason why gold continues to be viewed as a valuable currency: It shines and you can’t really do anything with it, and for some re...

Full article: http://www.suitpossum.blogspot.com/2012/06/block-chain-of...

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