
Gavin Andresen and Mike Hearn Are Sabotaging Bitcoin - rabite
http://weev.livejournal.com/415748.html
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api
What makes weev or anyone else think the uber-powerful want to quash Bitcoin?
If they did, step one would be to _stop investing hundreds of millions of
dollars in it_ through top VC funds led by Bilderberg fellows. I mean that
would be a start. Then they could stop... you know... having top banks like JP
Morgan release press releases hyping block chain technology. That'll show 'em.

If anything Bitcoin looks like it has the blessing of some fraction of the
global super-rich.

Then he goes into Rothschild banking... (rolls eyes)

Does he realize all that stuff is recycled John Birch Society propaganda, and
that the JBS were hard right wing fascists? It's hilarious how in the age of
copypasta leftists and anarchy/libertarian types have been recycling JBS
propaganda for 25+ years without having any idea where these tropes came from.
On Facebook I sometimes see articles from sites like Natural News that recycle
old right-wing JBS anti-communist propaganda verbatim. It's hilarious.

~~~
kalikaye
It seems that you've missed the point of the article entirely. He never said
that they wanted to _quash_ BTC entirely. Just morph it into something they
can put a choke collar on and regulate the fuck out of.

~~~
api
That's already happened: Chinese controlled mining pools control >50% of the
hash rate and could do serious damage to Bitcoin (or even fork it) if they
really wanted to and were willing to take a short-term loss for a long-term
power play. At the very least they could hold Bitcoin hostage by merely
"threatening to threaten" to do this, since any such threat could tank its
value. Speculative markets are hypersensitive to FUD in the short term if that
FUD is even a little bit credible, therefore anyone with the power to FUD a
market has tremendous power to manipulate that market. (That's why securities
markets are studded with laws to try to prevent that... not that these laws
work all that well.)

If other groups of super-rich/powerful elites wanted to control Bitcoin all
they'd need to do is to buy similar levels of compute power and centralize it.
If there is some Rothschild banking elite conspiracy, do you really think they
can't afford a lot of ASIC silicon? They could also afford significantly
faster non-great-firewalled Internet connections than the Chinese.

Bitcoin's proof-of-work mining scheme intrinsically favors centralized
economies of scale for the same reason this kind of industrial-scale compute
centralization is favored in cloud computing. The more compute you can put in
one place the cheaper cooling, power, and system administration becomes per
compute unit. All industrial processes are like this to some extent, and the
effect is exponential.

But I wasn't even really speaking to that. I was speaking of how he copypastas
old JBS conspiracy theories. There's this crowd who thinks they are "thinking
for themselves" by rejecting the mainstream narrative and plugging into
alternative and underground media, but most of them just end up uncritically
accepting anything their new media feeds say. It's just as easy to
propagandize the alt/underground scene as it is to propagandize the
mainstream... maybe even easier since it's a lot cheaper to influence or
astroturf indie media than it is to influence the New York Times. So you have
lefties and anarcho/libertarian types running around parroting narratives
originally penned by the John Birch Society and neo-Nazi groups without having
any clue as to the pedigree of these ideas. Strange days.

