Halfway through 2011 I came across the phenomenon of Bitcoin, and my head went into a tail spin. This was a revolution. I felt it in my bones. But I was reluctant to buy in and profit from it. At the time, it had the aura of an elaborate, hi-tech scam. The ultimate in electronic pyramid schemes. And the amount of hacking going on against the bitcoin exchanges (run from servers in peoples garages) didn’t help things either. I felt it was never intended as a alternative currency. Who in their right mind would trade commodities online or shop with it. Sure, it (kind of) bypassed third parties and fees, and it seemed easy to use. But once you send off a bitcoin to some address that is it. It’s irreversible. There is no redress. Online fraud using bitcoins leaves no paper trail to physically follow. Although there is an electronic trail, how does one place trust in such a new system?
Even drug dealers would be hesitant to use this nascent technology. Imagine Tony Montana rocking up to a meeting with the Colombians with a laptop?
“You want to give me the bitcoins, or do I kill your brother first, before I kill you?” “This focking blockchain is 1.5 focking gigabytes. So why don’t you try sticking your head up your ass? See if it fits.” “Okay, Caracicatriz. You can die too. It makes no difference to me.”