Your asset is protected by the world‘s largest distributed global proof of work Computer nodes. You can run your own Node on your home network on a laptop. Think of the Proof of Work is like limewire to Insure, validate the network security and transparency.
I get that. I'm a big proponent of blockchain as being secure. But the fact that there's no army to ensure you can always exchange your coin for food or heat is a real weakness, despite the strength of its digital distributed accountability.
Compare bitcoin to a hypothetical coin, say Mormoncoin, where the Mormon church would guarantee to the best of their ability that you could always exchange ten coins for a bicycle, a starched shirt and a week's worth of potatoes, at any temple in the world: wouldn't that coin, if otherwise identical to bitcoin, be better by virtue of having a physical force behind it?
That's the argument he's making, the way I read it.
Yes there are 20k coins introduced to the market trying to take down the king. All those coins introduced after BTC are centrally controlled they have a team of people And a CEO. Those bozo coins, are most likely the template created from the Ethereum Netwerk. Which is moving to proof of stake, September 15, 2022. All those coins can be manipulated for theft.
This argument does not help bitcoin... as it has no physical power behind it. Just a rule set.
Your asset is protected by the world‘s largest distributed global proof of work Computer nodes. You can run your own Node on your home network on a laptop. Think of the Proof of Work is like limewire to Insure, validate the network security and transparency.
I get that. I'm a big proponent of blockchain as being secure. But the fact that there's no army to ensure you can always exchange your coin for food or heat is a real weakness, despite the strength of its digital distributed accountability.
Compare bitcoin to a hypothetical coin, say Mormoncoin, where the Mormon church would guarantee to the best of their ability that you could always exchange ten coins for a bicycle, a starched shirt and a week's worth of potatoes, at any temple in the world: wouldn't that coin, if otherwise identical to bitcoin, be better by virtue of having a physical force behind it?
That's the argument he's making, the way I read it.
Yes there are 20k coins introduced to the market trying to take down the king. All those coins introduced after BTC are centrally controlled they have a team of people And a CEO. Those bozo coins, are most likely the template created from the Ethereum Netwerk. Which is moving to proof of stake, September 15, 2022. All those coins can be manipulated for theft.