Op-Ed: Guardian Chronicles Bitcoin Gamble

The ‘internet weirdos’ of bitcoin are changing the way money works.  Read the Guardian article here.

Notice that this guy seems uninterested in the fact that the Bitcoin protocol and its anonymity create a lawless zone in which criminals can safely roam.

Consider, for example, the New York stock exchange. No one would buy or sell there without the assurance of a certain minimum level of honesty, verified and enforced by the government and the exchange.

Even extreme free marketers accept these rules as necessary to bring into being the immense liquidity of that great market. Or the real estate market in which a lot of effort goes into verifying all aspects of a deal. But Bitcoin’s design bypasses all such efforts.

Contributed by Bernard Leikind, PhD.

Bernard Leikind is a physicist, and an amateur student of economics, political economy, and history. He is a current affairs junkie. He lives in Tampa, Florida, with his wife Linnea.

 Comments welcomed.

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