Hubris, prof. Hubris.
I don't recal if I mentioned it here, but a few years ago Fiat Brasil switched to using cast iron instead of steel for the rear wheel hubs of some model. The hubs would fatigue-crack after some time, more likely when driving at high speed on highways. Several fatal accidents happened before the government forced Fiat to do a recall and replace those hubs.
Once I met at lunch the prof from our Mechanical Engineering dept who wrote the report that pointed out the problem and eventually convinced the government to order the recall. It was not a easy struggle to overcome the Fiat lobbyists and lawyers, and I don't think that he got more than his expenses refunded.
That prof saved lives, perhaps hundreds of them. I will feel good if I can save the economies of a few people from the types of Mark Karpelès, Daniel Brewster, and Barry Silbert.
just a thought experiment.
just in case bitcoin goes over 10,000 in value before the next block-halving.
how would you feel about the people that have lost that much purchasing power just because they were holding their wealth in fiat instead of bitcoins?
(*edit to address Karpeles and crew: I don't trust any of those guys either. Luckily, because of bitcoin, I don't have to.
if you would spend more time learning and teaching the bitcoin protocol, your life might be more productive, and perhaps even more fulfilling. <- please note, I do not mean to be malicious. Lord knows I am wasting my own talents away at an alarming rate, so I'm not trying to throw stones, I'm just sayin' that a protocol that allows people to be in control of their own money deserves attention.
perhaps you could help the *everyman* more by teaching him how to aquire, store, and spend bitcoin safely and securely instead of just repeating "bitcoin's bad, mkay?"
