The resolution of the Bitcoin experiment

despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards. I will no longer be taking part in Bitcoin development and have sold all my coins.

It has failed because the community has failed. … the network is on the brink of technical collapse. The mechanisms that should have prevented this outcome have broken down, and as a result there’s no longer much reason to think Bitcoin can actually be better than the existing financial system.

When misinformed investors lose money, government attention frequently follows.

Source: The resolution of the Bitcoin experiment, by Mike Hearn

Iran’s blogfather: Facebook, Instagram and Twitter are killing the web | Technology | The Guardian

Hossein Derakhshan was imprisoned by the regime for his blogging. On his release, he found the internet stripped of its power to change the world and instead serving up a stream of pointless social trivia

a blind webpage, one without hyperlinks, can’t look or gaze at another webpage – and this has serious consequences for the dynamics of power on the web.

When a powerful website – say Google or Facebook – gazes at, or links to, another webpage, it doesn’t just connect it , it brings it into existence; gives it life. Without this empowering gaze, your web page doesn’t breathe. No matter how many links you have placed in a webpage, unless somebody is looking at it, it is actually both dead and blind, and therefore incapable of transferring power to any outside web page.

Source: Iran’s blogfather: Facebook, Instagram and Twitter are killing the web | Technology | The Guardian

Edward Snowden’s not the story. The fate of the internet is | Technology | The Guardian

The press has lost the plot over the Snowden revelations. The fact is that the net is finished as a global network, and that US firms’ cloud services cannot be trusted, writes John Naughton

Source: Edward Snowden’s not the story. The fate of the internet is | Technology | The Guardian

 

If businesses or governments think they might be spied on, they will have less reason to trust the cloud, and it will be cloud providers who ultimately miss out. Why would you pay someone else to hold your commercial or other secrets, if you suspect or know they are being shared against your wishes? Front or back door – it doesn’t matter – any smart person doesn’t want the information shared at all. Customers will act rationally and providers will miss out on a great opportunity.

— Neelie Kroes, vice-president of the European Commission

 

The real threat from terrorism is not the harm it inflicts directly but the over-reaction it provokes. We saw that with the invasion of Iraq. We’re seeing it with security-state overreach.

Source: Why NSA Surveillance Will Be More Damaging Than You Think | The Atlantic