Collaborative Revolution
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Collaborative Revolution
THE COMMONS, THE SHARE, Collaborative Competition.
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Scooped by Martin (Marty) Smith
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Pirates Can't Create A Currency: Bitcoin's Flexcoin Shuts Down After Theft

Pirates Can't Create A Currency: Bitcoin's Flexcoin Shuts Down After Theft | Collaborative Revolution | Scoop.it
(Reuters) - Bitcoin bank Flexcoin said on Tuesday it was closing down after it lost bitcoins worth about $600,000 to a hacker attack.Flexcoin said in a message posted on its website that all 896 bitcoins
Martin (Marty) Smith's insight:

Turns out creating a currency is harder than it looks. As appealing as creating a currency is to pirates any currency is little more than a measure of confidence and trust.

Trust is the reason PIRATES find it difficult to create currencies. Currencies need some NAVY too or they are too subject to the kinds of fatal flaw that Bitcin has apparently been experiencing for some time as they slowly bled currency to hackers.

The true PIRATE impulse is to steal so much what you've stolen goes down in value. That is the case here. By stealing a large % of the bitcoins in circulation hackers have all but killed the concept of a pirate currency.

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Rescooped by Martin (Marty) Smith from Organisation Development
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Trust and Collaboration - Internet Marketing's Critical Success Factors (CSFs)

Trust and Collaboration - Internet Marketing's Critical Success Factors (CSFs) | Collaborative Revolution | Scoop.it
Collaboration succeeds when trust is active and trust is embedded in interactions, mission, connections, and progress forward.

Via David Hain
Martin (Marty) Smith's insight:

Trust and collaboration, collaboration and trust are keys to all Internet marketing (to LIFE too :). Like the clear presentation here and the graphic. 

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Roy Sheneman, PhD's curator insight, May 31, 2013 8:10 AM

Excellent...

ThePinkSalmon's comment, May 31, 2013 11:24 AM
Superb!