Sunday, 5 June 2011

Smashing the Hornet's Nest

A lot of buzz is appearing in the press about the new concept of Bitcoin. Stinging opposition, ribald commentaries, bold retorts, and bolder predictions. This is starting to get interesting.
A sudden meteoric rise in prices, scarcity and difficulty in mining are not, according to some, the main drivers of the last 3 weeks (May 14 - June 4) of gains.
The spike in exchange rates for Bitcoin is being blamed instead on a article about untraceable drug transactions using bitcoins on the nefarious SilkRoad et. al. Seems like titillation and horror still have their place in modern journalism. Very heavy push from media against Bitcoin would seem to discount simple motives as the drivers of all the recent press:
There is a strange wind aloof upon the zeitgeist of the world. Something new, and unaccounted for - currency unbounded by ancient chains. TPTB have taken notice and so have the masses.
I do believe we are about to witness a contest of wills between containment and freedom played out on the stage of twitter feeds and old media channels.
Bitcoin is altogether novel and a confusing idea to the uninitiated and so bloggers, writers, journalists from every ilk are presenting their take on what Bitcoin is/does/will become before someone else explains it better. Some articles are guided by other motif noire. Noise to distract any serious investigation of Bitcoin’s potential among the internet community. Let me explain:
If I present a new concept as a complete thought, that would imply some forethought or intent on my part. Now forethought would lead to better personal understanding, dialog, perhaps even certitude; while intent would lead to greater manipulation/obfuscation/misdirection aka. FUD. Everyone familiar with Groklaw may now smirk.
To the best of my knowledge, I have not been granted insight or special understanding for the current state of affairs regarding Bitcoin, but I can say with certainty that the press is marshaling enormous resources to counter the swell of Bitcoin popularity in recent weeks. Spaghetti being thrown to see what sticks. SilkRoad today, pirates tomorrow, “Did’nya kill my brother?” I wonder where this will all lead? I bet tomorrow has more questions in it then TPTB planned at the last G8 summit. The wind has a fresh scent and the people know it.
But how to counter all this counter stuff? Information, information, information. Tor networks, Phantom onion groups, Mondonet, and millions of other ideas that will be released to allow Bitcoin to survive. I remember Linux forward station redoubt, aka. EFF was once a newbie amongst a  Microsoft-dominated crystal city. We will find our champions, anoint the missionaries, appoint the emissaries and expose the opposition. Knowledge through real-time information, allegiances of old friends and foes, will hopefully offer some certainty of the path that Bitcoin will walk.

No comments:

Post a Comment