Bitcoin, Magical Thinking, and Political Ideology

Alex Payne on Bitcoin:

Most charitably, Bitcoin is regarded as a flawed but nonetheless worthwhile experiment, one that has unfortunately attracted outsized attention and investment before correcting any number of glaring security issues.

To those less kind, Bitcoin has become synonymous with everything wrong with Silicon Valley: a marriage of dubious technology and questionable economics wrapped up in a crypto-libertarian political agenda that smacks of nerds-do-it-better paternalism.

Such criticism – that of the selfish logic behind the libertarian ideology prevalent in the Valley – will only grow louder in the coming year. Time to disrupt the disrupters, I say.