6/ Most advantages of Bitcoin which matter are captured by, and improved upon by, a LAMP app which simply holds account balances.
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Replying to @patio11
7/ Bitcoin's Internet cheering squad is a spontaneously organized boiler room. This is Bitcoin's #1 engineering and marketing achievement.
4 replies 21 retweets 49 likes -
Replying to @patio11
8/ The cheering squad improves upon techniques used to make Ross Perot and Rand Paul seem like serious contenders for the US presidency.
2 replies 6 retweets 28 likes -
Replying to @patio11
9/ Bitcoin is not a protocol in any meaningful sense of word. It is a single C++ codebase that you have to be bug-for-bug compatible with.
10 replies 63 retweets 56 likes -
Replying to @patio11
10/ Bitcoin's disaster recovery plan is a) get a cabal of people together in IRC, b) shut down the entire payment network, c) sort things.
1 reply 49 retweets 52 likes -
Replying to @patio11
11/ No, seriously, the decentralized nobody-needs-to-trust-anybody payments network *was shut down by an IRC channel's consensus* for 8 hrs.
15 replies 59 retweets 79 likes -
Replying to @patio11
12/ Time between Bitcoin blocks is not guaranteed (follows a Poisson distribution). Sometimes all pending transactions just stop for a while
6 replies 11 retweets 17 likes -
Replying to @patio11
13/ The media following Bitcoin, both enthusiast press and tech rags, are so incompetent at their jobs that it beggars belief.
4 replies 12 retweets 31 likes -
Replying to @patio11
14/ One example of many: a single phone call or letter in Japanese would have sufficed to verify that Mt. Gox was insolvent in summer 2013.
6 replies 11 retweets 19 likes
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