Comment: Bitcoin Ignorance

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Bitcoin Ignorance

The author of this article obviously has no idea what Bitcoin is.

By definition, it cannot be controlled by any one person or entity. It is a language. A protocol. A mathematical equation that says if all the required criteria don't match, IT AIN'T BITCOIN.

I'm sick of trying to explain this to people who refuse to even TRY to understand it. Bitcoin is DECENTRALIZED. It is not-hackable. No one can create Bitcoins/inflate/manipulate the currency in any way. The rules of Bitcoin have already been set. If you want to change the rules, AGAIN, whatever coins come out of your new set of rules are NOT Bitcoins.

End of story.

Now these Crédit Mutuel guys are just a Bank who are choosing to hold Bitcoins. For a forward-looking bank, this is smart. Still, the only way they will EVER possess a single Bitcoin is if someone else deposits it, or if they mine it themselves.

Then for the fear-mongering over a global currency, let's THINK about this for a second...

The PROBLEM with "global currencies" isn't that they are global. It's that they are fiat, centrally controlled, and easily manipulated by those in power. Bitcoin has none of these issues. I still believe in competing currencies to protect against hoarding or market manipulators, but there's nothing _inherently_ wrong with having a global currency, so long as its users are protected from monetary tyranny/thuggery.

The fact that this author disabled comments on her blog shows she knows she's lying, and doesn't want to hear any voices of dissent. Ironically, she is a shill for our bank-controlled world... on a website titled "occupy corporatism" no less!

-Jix