  Designed to compete with fiat currencies, bitcoin proposes it is a
crypto-currency alternative. Bitcoin makes a number of false claims, including:
solving the double-spending problem is a good thing; bitcoin can be a reserve
currency for banking; hoarding equals saving, and that we should believe
bitcoin can expand by deflation to become a global transactional currency
supply. Bitcoin's developers combine technical implementation proficiency with
ignorance of currency and banking fundamentals. This has resulted in a failed
attempt to change finance. A set of recommendations to change finance are
provided in the Afterword: Investment/venture banking for the masses; Venture
banking to bring back what investment banks once were; Open-outcry exchange for
all CDS contracts; Attempting to develop CDS type contracts on investments in
startup and existing enterprises; and Improving the connection between startup
tech/ideas, business organization and investment.
