But these are only part of the problem, the tip of the iceberg, there are many underlying problems that he does not address.

Spivs and speculators, that bitcoin fails to meet even the most basic of criteria for a currency.

– store of value
– medium of exchange

It is skewed in favour of the rich and early adopters. Early adopters were able to accrue millions, now need power hungry massive computing power.

There is also the mindset of the developers. All have a vested interest financed by vulture capitalists, work for parasitical add ons hoping to make a fast buck.

This is not the mindset of Open Software, Open Protocols, where you freely contribute your time to the collaborative commons, in order that all can benefit and in turn draw from the collaborative commons.

The mindset of the bitcoin developers is the opposite to that in The GNU Manifesto.

Software illustrates the dichotomy of the free flow of information. In one corner of the ring Bill Gates, who argues:

most of you steal your software. Hardware must be paid for, but software is something to share. Who cares if the people who worked on it get paid?

In the opposing corner of the ring Richard Stallman, who argues:

If anything deserves a reward, it is social contribution. Creativity can be a social contribution, but only in so far as society is free to use the results. If programmers deserve to be rewarded for creating innovative programs, by the same token they deserve to be punished if they restrict the use of these programs. … Extracting money from users of a program by restricting their use of it is destructive because the restrictions reduce the amount and the ways that the program can be used. This reduces the amount of wealth that humanity derives from the program. When there is a deliberate choice to restrict, the harmful consequences are deliberate destruction.

Bill Gates was arguing for commercial software, Richard Stallman Open Source software.

What Richard Stallman saw, was if knowledge freely flows, we all benefit. We contributive freely to the collaborative commons, and in turn draw from the collaborative commons.

Opens Source software, for example Apache, runs the internet, powerful supercomputers run on Open Source software Linux.

Bitcoin was developed as Open Source, Open Protocol. It has failed as a currency, but it has also failed because the Bitcoin developers have failed to comprehend the basic premise that Richard Stallman outlined in The GNU Manifesto. They are funded by vulture capitalists, parasitic start ups, all who are looking for means to profit from Bitcoin.

Bitcoin was an interesting proof of concept, nothing more. Coherent noise.

The only use of bitcoin is as a quick and dirty means to transfer out of a currency, across a border.

Can I buy a loaf of bread at the local baker? No.

– Is bitcoin dead?

– Bitcoin: the-emperor’s new clothes

The future lies with faircoin, not bitcoin.

The future lies with projects like Mycelia for tracking music, that make use of the blockchain.

http://shitco.in/2015/08/19/the-bitcoin-xt-trojan/

https://twitter.com/jaromil/status/688311103030452225