Emergent memes are merging this year... Paraphrased from recent articles: Bitcoin is a digital currency, backed by no commodity or central bank. It exists because a small number of humans have chosen to believe in its legitimacy. The implication is that once a threshold number of true believers are convinced - whether it be in finance, politics, religion or science, objective truth is almost immaterial. (with the emphasis on "almost"). The Rossi E-Cat is an advanced but unproved energy device which has been publicly replicated by no reliable laboratory, and exists because a small number of humans working on similar projects have chosen to believe in its legitimacy. The implication is that once a threshold number of true believers are convinced - whether it be in finance, politics, religion or science, objective truth is almost immaterial - except in science you only get a "data holiday" as Ahern calls it, which exists for several years. Bitcoin's pseudonymous creator "Satoshi Nakamoto" willed that currency into existence in 2009, yet the software scheme had all the hallmarks of a gag: "a great, metastasizing practical joke played by clever coders" * <http://www.technologyreview.com/review/524691/marginally-useful/?utm_campai gn=newsletters&utm_source=newsletter-daily-all&utm_medium=email&utm_content= 20140226> who came to realize, if only by serendipity - that all government-backed currencies are ultimately less reliable than any invented currency whose supply can be carefully controlled. Thus Bitcoin succeeded because of lack of a credible alternative, ... which is to say - lack of a Mint and lack of a currency printing press. Even the US dollar is not a credible alternative to any future Bitcoin scheme which is done correctly (this one was apparently not done correctly). E-Cat's creator, who could be one of the World's great geniuses, or else a great con-man (no one is sure), realizing that his past would catch up him eventually, decided to present to the World his past failings at the same time he released his invention. Coincidentally, one of those failings was in currency transfer. This tactic of disclosure won over potential naysayers, and since his demonstrations were open and moderately convincing, and since no credible skeptic emerged, Rossi succeeded in gaining a well-funded sponsor in the end. Rossi's ultimate success, however, does depend on factuality instead of faith (as does Bitcoin's success depend on reliable control of the currency supply instead of faith). Nevertheless the data holiday of Rossi is almost over, and the careful control of Bitcoin's control capability has come into question. Due to two emergent memes coming together at the same time, one wonders if Andrea Rossi was paid in Bitcoins :-)
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