[tokenadult]

A while ago I wrote that perhaps the greatest contribution the Bitcoin experiment will make to humankind is to teach you and me and our neighbors more about the realities of economics. And now I will add that the Bitcoin experiment will also contribute to greater understanding of how nonprofit industry associations are organized to protect the economic interests of for-profit businesses. A lot of new industries have discovered that a few bad actors who screw up early can damage the reputation of the entire industry, and there are many previous examples of "competing" companies in a new industry banding together to promote consumer protection, as they say, and to promote the growth of their market. We'll see how this goes for Bitcoin.

[andrewljohnson]

"A lot of new industries have discovered that a few bad actors who screw up early can damage the reputation of the entire industry"

Please cite some examples. I can't come up with any, and this is intuitively false to me. Productive industries steamroll over bad actors and indiscretion. Railroads, gold-mining, and arguably social gaming were propelled by bad actors.