The Central Banks are AFRAID. They know they are losing CONTROL. What happens when we cease the utilization of their FINANCIAL SYSTEM? End Game? György Matolcsy, governor of the Hungarian Central Bank, wants to ban cryptocurrencies like #Bitcoin in the European Union. P. A. N. I. C.!
(twitter.com)
🚔 Crime & Corruption 💸
If you are betting on a scenario that renders the use of crypto obsolete, what type of currency you decide to hoard should be the least of your concerns. Crypto exists without power and internet. If we don’t have either, we would probably resort to barter instead of currency. The minute the internet and power come back, so does crypto.
The user that goes by the pseudonym "Satoshi Nakamoto" wrote the original source code in 2008 along with the white paper for their idea: Original source code White paper
Satoshi's announcement for the first release of Bitcoin was through a mailing list: Release of Bitcoin
After quite a bit of correspondence with other developers, Satoshi said goodbye in 2011 with an email to Mike Hearn:
Currently Bitcoin is maintained by a group of people with hundreds of others contributing to the source code for the software that runs the Blockchain: Source code
I do not understand what you mean by "Can it be tracked?" The Bitcoin Blockchain runs on a distributed network of nodes that is constantly verifying the legitimacy of transactions. You do not have to trust it. It is trustless. That should be the allure of decentralization.
This "invest in Bitcoin" rhetoric that we are all accustomed to hearing now is nonsense. The problem is Wall Street, not the technology. It was never intended to be treated the way it is being treated. I will give people who doubt its use as a currency that much. Merchants were accepting it as a valid form of payment. A guy hacked together a gas pump to accept Bitcoin. There were legitimate uses for Bitcoin as a currency. Then the US government got involved...
We gave them the power to regulate it like we do with everything because a lot of people are submissive and naive. We got the gift of an unregulated currency that functions in the real world and then were convinced that it needs to be regulated. The regulation allowed people with the big bucks to feel comfortable enough to get involved and manipulate the onboarding process into some ridiculous investment scheme. The masses got entangled in the growth of Bitcoin at the wrong time.
I apologize for my rant. I have seen Bitcoin grow up ever since it was being used to facilitate transactions on Silk Road. I am so irritated with the way it has been abused by governments and people like Elon Musk. Sure, it was to be expected, but I figured people would catch on by now. I guess the temptation to make a quick dollar will always be stronger than the allure of being your own bank inside of a truly open market.
Satoshi Nakamato might have been a team of white hats from within the NSA.
Look into Monero. I'm not 100% sure but I heard that one is actually totally anonymous
If power dies across the entire world which is what it would take to render it impotent, then were in a world where ammo and food will be the most prized possessions. So ill go with crypto.
Bitcoin is a decentralize compute node farms. No one centralized organization controls the asset. In your example the power would be required to go out globally to bring down bitcoin I don’t see that happening in the near future.
Maybe however I have a node in my basement. Problem solved
Gold melts.
Neither physical medium can be eaten.
The only question is, which system is most trusted?