[GNHLUG] MerriLUG: April 2nd 2013 - Bitcoin

[Ben Scott]

On Thu, Apr 4, 2013 at 1:31 PM, Peter Petrakis <peter.petrakis at gmail.com> wrote:
>>   I thought one of the big things about Bitcoin is that there is no
>> "they", it's all peer-to-peer.  Yes/no?
>
> stock exchanges are also peer to peer in a sense ...

  No, they are not.  They are centralized clearing houses.  They're
also subject to regulatory oversight.  Those are not peers.  A peer,
by definition, is the same as the others.  :)

  Peer-to-peer is two guys meeting on a street corner and saying "Hey,
wanna buy some Bitcoins?"  :)

> It's classic market manipulation and it doesn't appear
> that I can go to the SEC for relief.

  That would be my understanding.    The crypto-anarchists[1] wanted a
currency that was immune to government control.  The SEC is part of
the government.  Seems pretty straight-forward to me.  :)

-- Ben

[1] I do not use "anarchist" as a pejorative, but I do imply consequences.  :)