> The Bitcoin crowd needs to get some people who have passed Internal Financial Controls 101 at a 2-year business college. This isn't rocket science.
To quote somebody who has forgotten more about cryptography and digital currencies than probably the entire population of Bitcoin startup founders put together will ever know, many Bitcoin founders take "offense at the very notion that there might be something to be learned from several millenniums of financial services best practices."[1]
What's really interesting for me is that VCs seem happy to invest in such startups. It's one thing when a small, bootstrapped exchange/wallet provider gets hacked. It'll be a different story when a major, VC-backed one gets done.
To quote somebody who has forgotten more about cryptography and digital currencies than probably the entire population of Bitcoin startup founders put together will ever know, many Bitcoin founders take "offense at the very notion that there might be something to be learned from several millenniums of financial services best practices."[1]
What's really interesting for me is that VCs seem happy to invest in such startups. It's one thing when a small, bootstrapped exchange/wallet provider gets hacked. It'll be a different story when a major, VC-backed one gets done.
1: http://lists.randombit.net/pipermail/cryptography/2014-Febru...