The World's Been Mt.Goxed

Bitcoin Blockchain Responds to the Crisis of Legitimacy

“By keeping the funds off the blockchain, Gox removed the protections of transparency and end-user control and replicated the model of a centralized bank without any of the controls and oversight such institutions require”.

“Trust does not depend on excluding bad actors, as they cannot 'fake' trust. They cannot be pretend to be the trusted party, as there is none. They cannot steal the central keys as there are none. They cannot pull the levers of control at the core of the system, as there is no core and no levers of control”.

http://www.youtube.com/watch?v=6phynr2fdVU

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