The fourth of our programs about Bitcoin, this broadcast further documents the predictable chaos and malfeasance resulting from a valuable monetary entity that is totally unregulated and open to all of the vagueries and criminality to which internet business is subject. Much of the program focuses on the collapse of the Mt. Gox exchange in Japan, one of the world’s largest Bitcoin marketplaces. Blamed initially on hackers, it may well be that the operators of Mt. Gox were engaged in deliberate malfeasance, as were anonymous hackers who called attention to the sins of the company’s management. The program notes that the concentration of ownership in the Bitcoin community is even more pronounced than it is in the regular economy.
For The Record recording is now occurring on a regular basis. The latest program recorded is FTR #806.