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Between idealism and cynicism lies pragmatism. I was intrigued that your bright eyed graduate believed that they could rely on crowd control and the community for regulation. The trouble is that crowds are easily led, and easily whipped up into a state of frenzy by people with less than honourable intentions. This will be no different in a world of virtual currencies. I was 15 in 1968, and I thought we were going to change the world. Much has changed, and a great deal of it for the better, but that was as much about working through the contentions of individual liberty and collective responsibility as about radical, disruptive...and even destructive change.
Great stats and interesting observations. Banks engaging with customers......? That would never do! I really must go and get my cynicism seen to.
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Jul 5, 2010