Quantum Computing to end Crypto sooner than you think
(trendsandtrackrecords.com)
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What underlying mechanism is the same? decentralized verifiable blockchains has never been used before, especially not in a Ponzi scheme type of application, same goes for linked lists and similar structures. As for the rest, the mechanism is identical to gold, you have x amount, a total supply known to man, y amount can be mined because of limitations in machinery and accessibility, a price set by supply and demand etc.. if crypto is a Ponzi scheme, then why isn't gold?
Just like crypto, and blockchains in particular. Hardware and software respectively. In a global EMP, or anything that disrupts the power grid or the internet neither of these assets will have any value based on "industrial use" as no industry will remain and buy them.
Encryption aside, what sort of verification would you propose? The compromised state of Bitcoin, i.e when one part manage to take control over the whole network ain't different from today's banking system. We'd be back to square one in terms of security, verification wise. Security wise in terms of encryption and simplicity we'd still be better off.
And even if Bitcoin could be considered compromised due to the ASIC miners, there's plenty of other coins which is ASIC resistant, Monero for instance, where the average Joe can still mine of GPU's, and reduce the risk of it's chain being compromised.
Silver is an antibiotic useful in many settings (including silverware, which is one reason the wealthy have long used actual silver utensils, and water purification, treatment of infection, etc.), and then there's coinage and jewelry, all of which kept silver valuable for thousands of years before James Clerk Maxwell began futzing around with electromagnetism. Several of the other many uses for silver would also be useful after TEOTWAWKI and in building back to levels of modern technology.
Much the same can be said for gold (although not the antibiotic effects): coinage, jewelry, and many other uses made gold valuable long before the Pyramids were built and will continue to do so long after you and I are gone.
I agree with you that blockchain itself can be useful in many areas, and at this point the security aspect is a strong attraction. And it may be that Bitcoin or other crytocurrencies will stand the test of time and even prevail. I wrote this post mainly because I see so many people pinning their hopes (and perhaps their life savings) on crypto without having considered the possible downsides -- there always ARE downsides, including of course for metals or any other investment class.
People who put all their eggs in the same basket are bound to lose at some point, I have some silverware and coins too, but never thought about using it in water purification, sounds interesting.
You're right: everything-in-one-basket works great until it doesn't.
We've got a gravity-feed Berkey unit -- stainless steel with ceramic filters filled with charcoal and silver; different filters are available. It's stunning what they can remove from your water.