Post
Topic
Board Securities
Re: NEO and BEE talk (unmoderated)
by
ex-trader
on 19/04/2014, 08:56:39 UTC

Part of the reason for the MtGOX disaster was the "libertarian pilosophy" that has come to be associated with bitcoin.  In that philosophy, a shady past, running afoul of the law, lack of proper accounting, financial opaqueness, and avoidance of regulations are not defects; they may even be seen as virtues.   Thus, in particular, MtGOX's clients were not bothered by Karpeles's troubles with the FBI (that apparently made him avoid traveling to the US), or the fact that his exchange was completely unregulated and unaudited.  They did not think of checking Karpeles's past; and even if they did, they would probably not object to what they would have found.

As long as bitcoiners continue to think that way,  the already long list of bitcoin scams and failed-from-the start bitcoin ventures will only continue to grow. 


Well said.

Bitcoiners actively allow scammers and dreamers, by checking nothing, trusting anything 'because it's Bitcoin' and then accusing any criticism as FUD.