Greenspan's Comment and Bitcoin; an historical tongue in cheek analogy

To explain the mystery of Bitcoin to Greenspan and all those "best and brightest" morons who have built Pax Americana debt hole and hubristic NWO mantra I would suggest the following line of reasoning :

1° The Origin of Bitcoin works on the eternal principle attributed to the Devil : THe fallacy of all hegemonial constructs; aka "GOD wills it" type Greenback God logic; is hidden to the common eye by "control and fear" regulatory capture. Its inherent weaknesses lie in the INTERSTICES of the false godly construst. So that's where the devil Bitcoin should reside and flourish : in the interstices of the fiat empire, as it decays and froths in Bubble-o-mania paranoia all festering behind the tinsel curtain of Emperor's illusory regal posturising in name of the PEOPLE.

Bitcoin is a cure to hegemonial monetary constructs. That is its "raison d'etre". 

2° To thrive and grow it has to be faceless and unidentifiable; like the original evangelical religion; peer to peer and unknown to Caesar's legions. It only thrives in the Catacombs of Rome during secret meetings where only the initiated come, not from greed but from faith and Necessity. Its a true Heretic breed. Its an alterworld in the making. And Caesar; God's purported and elected effigy on earth; does not like it and will want to burn it and crucify its followers if he could.

3° It has to have its own growth mechanisms based on three cardinal values : faith, hope and charity. Charity being a very important aspect, as all systems only survive as much as in the peer to peer relationship there is TRUST based on COMMON VALUES. We never cheat each other as long as the world is ruled by hegemons.

4° For it to become viable it has to have a fool proof growth formula within its OWN MIcrocosm. That formula has to be an intelligent one, an ALGORITHM that none can fathom nor debase allowing it to create value based on total democracy and faith in each other's EXEMPLARITY fed on necessity to survive in a HOSTILE PREDATORY world; that of Oligarchy fiat. The buck stops with each peer to peer node. We are our own keepers. But the formula is beyond the tinkerings of ANY of us. That is the cardinal rule. Bitcoin will never survive if this oNE precept is not cherished by its community; as then we go back to fiat ROme. We are no different to them.

What Black Merton and Scholes did to fiat none should be allowed to impose on Bitcoin. No derivative disease to confound the purity of the original tree of wealth dissemination. If this rule is never crossed like a virtual Rubicon, the Republic of true monetary value stays pristine and undebased. No Oligarch could corner the system as its NOT centralised and Bitcoin exchanges only live on their own reputation (and pay for their sins in front ofunmanipulated courts of law). If competitors make a Buffetcoin or Gatescoin that's fine; if they never cross the Rubicon and declare themselves Hegemon; if they respect the principle of true democracy and peer to peer "free" and "illusory" market value transaction legacy. The more the merrier.

Bitcoin does not answer the more philosophical question of what the VALUE of a product is and WHY it is ephemeral and changing depending on fads and fancies of transactors or on launch of rival products. 

5° Now we come to when the Bitcoin having established its preeminence has to face the test of perenity and sustainability.

What does it have to do to never face the decay of corruption and hubristic delusion?

Just be the Opposite of the GREENSPAN legacy to $$$$$$ FIAT! 

Over and out Mr Greenspan! 

NB : If the Bitcoin construct exposes the fiat hegemony based on QE infinity and DEPOSES it into the dustbin of history, it would have served its purpose to humanity as antidote.

Not saying any system is a "and they lived happily ever after" deal; no way!