27 Oct '12, 2pm

Jon Matonis: Bitcoin is incompatible with the state banking system and should not seek legitimation

Interesting libertarian argument excerpted from Jon Matonis : (editor’s note: the illusion here is that keeping Bitcoin a-legal would protect it from state intervention) ” I was a radical before most of you Bitcoin users were born. That doesn’t make me any better than you (hopefully I did a few things to make you better than myself), but it does give me a better perspective; time just works that way. I’ve been watching the recent developments in the Bitcoin markets, and having seen this drama before (too many times), I thought I’d pass along a lesson. This will strike its target in some of you, but others of you are also likely to reject it, because it doesn’t match what you want to be true. Here’s the lesson: Trying to go ‘legit’ will destroy the Bitcoin market. For those of you who haven’t turned away, I’ll explain: There’s nothing really wrong with Bitcoin itself. The d...

Full article: http://blog.p2pfoundation.net/jon-matonis-bitcoin-is-inco...

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