New Yorker’s Maria Bustillos – The Bitcoin Boom

New Yorker’s Maria Bustillos – The Bitcoin Boom:

In one of her first contributions to NewYorker.com, Maria Bustillos (@MariaBustillos) excels with her introduction of Bitcoin for that site’s audience.  Excerpts:

“[The fearmongering typical for most media coverage of Bitcoin] is a red herring, and has so far prevented the rational evaluation of the potential benefits and shortcomings of crypto-currency.”

“Cash is also anonymous; it is also used in money laundering and illegal transactions. Like bitcoins, stolen cash is difficult to recover, and a cash transaction can’t readily be traced back to the source. Nor is there immediate recourse for the reversal of transactions, as with credit-card chargebacks or bank refunds when one’s identity has been stolen. However, I find it difficult to believe that anyone who has written critically of the dangers of bitcoin would prefer an economy where private cash transactions are illegal.”

“‘I think if the U.S. government decided that Bitcoin was a bad thing and told me [to stop development of Bitcoin] I’d stop doing what I’m doing, quite frankly. But that wouldn’t be very effective […].’ [said Gavin Andresen] .”

“In response to a question about his politics, Casascius’ Mike Caldwell had this to say:I am not an anarchist; I believe in the rule of law and a civilized society. But I also believe that unchecked power is a threat to the common good, and that anything that the public can do to challenge that power is a benefit to society. As an individual, if you accept bitcoin in exchange for your goods or your work, that is a vote for economic fairness’.”

 – http://nyr.kr/14C8LEo
 – http://bitcointalk.org/index.phptopic=164977.0 (Futher discussion of the article)

All News – Daily E-mail Subscription – Twitter: @BitcoinNews

Check out the original source here.

http://bit.ly/YgOYU0cash transactions, civilized society, credit card chargbeacks, credit card chargebacks, illegal transactions, mail subscription, rational evaluaiton, rational evaluation

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