Anyone with knowledge of this ?
(media.greatawakening.win)
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I always thought it strange that people put value in something that is no more than some digits in cyberspace. There are people that know how to hack things like Bitcoin - and we have seen them before. Silk Road ring a bell? This rabbit hole connects to Crowdstrike, the USPS, Rosenstein, etc, etc.
Blockchain and Fraud Prevention - Practice and Limitation
Shaun Bridges, ex-Secret Service agent, sentenced again for stealing from the government
https://www.rahmanravelli.co.uk/articles/blockchain-and-fraud-prevention
https://www.washingtontimes.com/news/2017/nov/8/shaun-bridges-ex-secret-service-agent-sentenced-ag/
...insightful articles....
Like I said, this rabbit hole goes deep and connects to the same players over and over again. Shaun Bridges is one those few people that know how to crack blockchain. He has done it before. If it is digital, it can be hacked. There is nothing that is 100% safe. Remember when the USPS applied for an election blockchain patent? Everyone keep saying how safe it would be. Guess again.
Thank you for the clarification. I should have made myself clearer. Yes, you are correct. Bitcoin itself has not been hacked. But that does not mean that it will not be someday. As you said, where there is a will, there is always a way. You are also correct in that the transaction points are the most vulnerable and that is where the low hanging fruit for criminals is picked. Why go after the blockchain when it is much easier to go after some other point in transaction chain that is more vulnerable. When it comes to cryptos, the whole operation needs to be taken into consideration. Therefore, Bitcoin or other cryptos are not without risk - especially for the average person that is not as savvy about the digital world. Then there is the whole issue with geopolitics that can be involved with manipulation. The security of Bitcoin itself has left some with a very misplaced security in the entire operation of owning cryptos. Like with other types of purchases or investments - buyer beware.
As far as the collectables, I have a few myself. I understand they are only worth what people are willing to pay for them. Therefore, any increased value in them was only secondary to wanting them for my own enjoyment. I have cards and artwork. I wouldn't mind having a nice vintage car just for the occasional Sunday drive. If you can afford to have one of those cars you sure as hell can afford the gas to go for a drive. The gemstones I purchased, as far as value is concerned, have not increased as I would have hoped. In fact, they have not increased in price much since the time when they were purchased many years ago. Therefore, with the devaluation of our currency, I would have to say they have lost value. Oh well... like my other collectables, I did not purchase them for investment purposes.
It's almost like you've never heard of FIAT currency before.
What's your perfect money that's impervious to crime? Inquiring minds want to know!
Not a financial expert by any means but this is my understanding. Correct me if I have this wrong.
Nothing is completely impervious to crime. But, by making currency based on hard asset makes that crime more difficult because it would require actually stealing a hard asset. The latest fraud by GoFundMe should be a huge wakeup call as to how easy it is with a digital system to completely wipe out wealth; wealth that in reality was only an illusion to begin with. Fiat currency only has value that people place upon it. We have been conned into using these fiat means of exchange because bankers have made us believe that they have value. We use that fiat system to purchase goods and pay taxes. That includes all forms of digital and paper currencies that are backed by nothing.
The only things that have real value are those things that have that value intrinsically. Those are things that can then be used as a means to give value to currency - just like we used to have. We used to have a system based on precious metals. That was taken away from the people by the bankers and traitorous politicians. Those that control this fiat system are the biggest criminals of that system.
We the people could come up with a system of exchange that would bypass the bankers if we really wanted to. We could trade in beans if people believe that it has value as a means of exchange. If we are going to create a parallel financial system, bartering real goods and solid money based on real tangible asset is the only way we are going to solve this problem and stop them from stealing from us.
It's not crypto, it's sometimes how it's stored. Wallets, safes, etc can be hacked, broken into, but the currency itself, no.
This is the truth with any currency. I understand your perspective on a store of value and gold/silver backed money as I agree... Truth is, the same can be done with crypto as well. XRP is said to have the capability.
Money is a strange thing though, it's really just what the collective agrees to as a form of payment.
We need better money, for sure... But nothing is perfect and nothing is crime proof.
Crypto has a ton of potential tho. Don't discount it just yet.
I am looking forward to an asset backed crypto like XRP. I agree with you that nothing is completely fool proof. I apologize for giving the impression I was poo poo about crypto. I just think there are too many that have overinflated its worth at this point. It does have potential, true. But at this point, its value only lies in what people are willing to place in it. And as I clarified in another reply, I should have made myself more clear. The Bitcoin requires all the rest of the transaction process to make it work and Bitcoin cannot be separated from it. That is where all the problems lie. Not in the Bitcoin itself. A chain is only as strong as its weakest link.