Since 2012 the community has:
Brian Butler: GE Seeks to Own All Cars, Use Software as Barrier to Generic Repairs and After-Market Parts
GM has joined with John Deere in asking the government to confirm that you literally cannot own your car because of the software in its engine. Like Deere, GM wants to stop the Copyright Office from granting an exemption to the Digital Millennium Copyright Act that would allow you to jailbreak the code in your car’s engine so that you can take it to a non-GM mechanic for service, or fix it yourself. By controlling who can service your car, GM can force you to buy only official, expensive parts, protecting its bottom line.
The blockchain is a cryptographically secured register. A long, long time ago we used to hook a line printer to important systems and they’d print a subset of their logging to it. An intruder taking over a box could erase the contents of /var/log, but that printout was immutable. The blockchain provides something similar, but it’s globally distributed, so *everyone* with access can write on it in an immutable fashion.
EXTRACT: Today an Argentinian freelancer who uses their banking system has to wait five days for an international transfer, lose 30% of his income to predatory fee structures, and run the very real risk that one of the parties involved in the clearing will simply misplace their money entirely. A Bitcoin based competitor can do this transaction at 1% of the cost in 0.1% of the time, make a profit while doing so, and there is nothing the government can do to stop it.
You asked me to comment on “The Logic Problems That Will Eventually Pop the Bitcoin Bubble,” as published by Vanity Fair on 31 March 2013.
My critique is that it is VERY old news. 2013. I was just getting into Bitcoins by then, and loosing my ability to walk. Can I counter the piece? No, not really. The writer has the same problem everyone else has. They think Bitcoin is supposed to ACT like money. Then they go on a tirade of comparisons to other Monetary events. Bitcoin is not a Monetary event. No one, I repeat, NO ONE, save for space aliens, has seen anything like this on this planet as far as we know. EVER! Bitcoin is just the first Killer App out of the Blockchain.