IMHO, all digital currency is vapor-ware. If you don't possess it, you will lose it sooner or later. This is why the old-age saying, "Possession is nine-tenths of the law".
By that logic, is any software NOT vaporware? The thing you must possess is the private key, which you can generate offline and is meant to be kept secure and backed up, hence the word private.
It has been shown that Bitcoin and others competing brands are controlled false fronts being used to 'normalize' digital currency, so that out of the ashes rises the CBDC.
Bitcoin is an open source technology, like Linux or Email. It was always meant to be forked and experimented with. I happen to prefer a different version of Bitcoin called Bitcoin Cash, which forked away from BTC in 2017 due to the BTC dev team refusing to increase Bitcoin's block size, which severely crippled its growth. That is the reason for the explosion of shitcoins because they couldn't build on BTC due to its limited capacity.
In the CCP, it took one act to eliminate blockchain digital currencies. In Canada, we saw how the Trudeau government shutdown and seize the trucker protesters bank accounts and crypto-currency accounts.
I don't know what you are talking about with the CCP, Bitcoin is still alive and well in China. Most of the miners and mining hardware manufacturers are there too.
In Canada the reason people's funds were able to be seized was they were using centralized exchanges and third party intermediaries. Whoever set up the donation address used a custodial wallet and that was their mistake. If they had set up a private multisig wallet, yeah, maybe the government would be able to track it, but they couldn't have seized it.
The Canadian Truckers is more of an argument for digital privacy. If they had used Monero, no one would have had their money stolen, or even heard about it.
Central banks don't compete.
Right. And now they have to. They grew accustomed to their monopoly and Bitcoin knocked it off track. Do you recall the Silk Road? It's what alerted most of the feds to the threat that Bitcoin posed, because people were able to trade online anonymously and it scared the shit out of them, to the point they created a whole psyop to twist the message of Bitcoin from "A Swiss bank in everyone's pocket" to "HODL LaMbOs To ThE mOoN bRoOoO!" and its been downhill from there.
You practically answered your own question. This question addresses all others. It takes one electrical surge and 'poof' it's gone. Electrical pulses are a poor substitute for something of value. Even the paper denomination is suppose to be a receipt for 'something' of value is obviously more material than an electrical pulse. Like Mexico's paper denominations in the 1980s that became worthless, at least people who ended up having them can say for posterity that it symbolizes why physical gold and silver are things that always has value. That paper denominations are not anything of value.
This leads me to the question that hasn't been answered. The CBDC in the current form is the same Ponzi scheme as the fractional reserve system. All Ponzi schemes accelerate before they collapse. This is what we are now witnessing. There is no way to remain master over a Ponzi scheme. So, the old one has to be ended and a new one created. Ponzi schemes are inherently illegal. Yet, this is what the fractional reserve banking system is. The reason it survived this long is because governments are enjoined to it and enforce it. Ending the Ponzi scheme with another that is worldwide doesn't solve the inherent characteristics of all Ponzi schemes. That is, a Ponzi scheme always accelerates out of control. Presently, the paper denomination is suppose to be a receipt for 'something' of value. Bretton Woods II removed gold as that 'something' that backed it.
So, the question always comes down to "Who controls the gold?" This is the shell game that's being played. In the current system, there isn't really any gold being played in the shell game.... At least to the plebeian individual that is. Notwithstanding, governments and global elite use it to give backing to the FRBS system. Gold and silver has always had intrinsic value. This is incontrovertible throughout history. Therefore, it is as if it is God's currency. At least BRICS recognizes its monetary system needs to be backed by at least 50% gold. Ghadafi had the same idea for his pan-African currency. The West stole all of Ghadafi's gold. My reservation to BRICS is whether the individual can redeem currency in physical gold? The Golden Rule: Whoever has the gold makes the Rules. If the individual doesn't physically possess gold and silver, problems of theft will soon after occur. Governments are good at doing this.
It takes one electrical surge and 'poof' it's gone.
This is just wrong and it's laughable that anyone still thinks this is true of any crypto. If this was the case why has it survived this long? All you are showing is that you don't understand how it works.
One electrical surge and it's gone? No, You'd need a worldwide EMP to take out every single computer running the software. It's impossible, barring something like an extreme solar flare or asteroid hitting the earth. That's why it's such a big deal - for the first time in history people can keep records in a decentralized database that no one can alter. That's the value, it has nothing to do with all the stupid hype that people talk about. Almost everyone misses the point.
We agree on the gold/Ponzi/CBDC stuff. But bitcoin/crypto is its own thing, that doesn't depend on gold or any fiat currency to survive. Bitcoin itself has a hard supply cap so no one can ever "print" more than is supposed to exist, and anyone can audit the supply at any time. That means no one can cheat the system. If you think Bitcoin was/is part of the CBDC plan, why would they create something like that?
This reminds me of a FarSide cartoon, to which two long-necked dinosaurs said to the other, "It would take an extinction level event to end all this." They both laughed, "Right! Like that's going to happen!". What did NASA just announce? Gold is forever. Digital currency requires milliVolts that can easily be shut down just like the voting in Georgia.
The CBDC digital currency is a much faster shell game, but a Ponzi Scheme lives and dies as one no matter how much it is disguised.
By that logic, is any software NOT vaporware? The thing you must possess is the private key, which you can generate offline and is meant to be kept secure and backed up, hence the word private.
Bitcoin is an open source technology, like Linux or Email. It was always meant to be forked and experimented with. I happen to prefer a different version of Bitcoin called Bitcoin Cash, which forked away from BTC in 2017 due to the BTC dev team refusing to increase Bitcoin's block size, which severely crippled its growth. That is the reason for the explosion of shitcoins because they couldn't build on BTC due to its limited capacity.
I don't know what you are talking about with the CCP, Bitcoin is still alive and well in China. Most of the miners and mining hardware manufacturers are there too.
In Canada the reason people's funds were able to be seized was they were using centralized exchanges and third party intermediaries. Whoever set up the donation address used a custodial wallet and that was their mistake. If they had set up a private multisig wallet, yeah, maybe the government would be able to track it, but they couldn't have seized it.
The Canadian Truckers is more of an argument for digital privacy. If they had used Monero, no one would have had their money stolen, or even heard about it.
Right. And now they have to. They grew accustomed to their monopoly and Bitcoin knocked it off track. Do you recall the Silk Road? It's what alerted most of the feds to the threat that Bitcoin posed, because people were able to trade online anonymously and it scared the shit out of them, to the point they created a whole psyop to twist the message of Bitcoin from "A Swiss bank in everyone's pocket" to "HODL LaMbOs To ThE mOoN bRoOoO!" and its been downhill from there.
You practically answered your own question. This question addresses all others. It takes one electrical surge and 'poof' it's gone. Electrical pulses are a poor substitute for something of value. Even the paper denomination is suppose to be a receipt for 'something' of value is obviously more material than an electrical pulse. Like Mexico's paper denominations in the 1980s that became worthless, at least people who ended up having them can say for posterity that it symbolizes why physical gold and silver are things that always has value. That paper denominations are not anything of value.
This leads me to the question that hasn't been answered. The CBDC in the current form is the same Ponzi scheme as the fractional reserve system. All Ponzi schemes accelerate before they collapse. This is what we are now witnessing. There is no way to remain master over a Ponzi scheme. So, the old one has to be ended and a new one created. Ponzi schemes are inherently illegal. Yet, this is what the fractional reserve banking system is. The reason it survived this long is because governments are enjoined to it and enforce it. Ending the Ponzi scheme with another that is worldwide doesn't solve the inherent characteristics of all Ponzi schemes. That is, a Ponzi scheme always accelerates out of control. Presently, the paper denomination is suppose to be a receipt for 'something' of value. Bretton Woods II removed gold as that 'something' that backed it.
So, the question always comes down to "Who controls the gold?" This is the shell game that's being played. In the current system, there isn't really any gold being played in the shell game.... At least to the plebeian individual that is. Notwithstanding, governments and global elite use it to give backing to the FRBS system. Gold and silver has always had intrinsic value. This is incontrovertible throughout history. Therefore, it is as if it is God's currency. At least BRICS recognizes its monetary system needs to be backed by at least 50% gold. Ghadafi had the same idea for his pan-African currency. The West stole all of Ghadafi's gold. My reservation to BRICS is whether the individual can redeem currency in physical gold? The Golden Rule: Whoever has the gold makes the Rules. If the individual doesn't physically possess gold and silver, problems of theft will soon after occur. Governments are good at doing this.
This is just wrong and it's laughable that anyone still thinks this is true of any crypto. If this was the case why has it survived this long? All you are showing is that you don't understand how it works.
One electrical surge and it's gone? No, You'd need a worldwide EMP to take out every single computer running the software. It's impossible, barring something like an extreme solar flare or asteroid hitting the earth. That's why it's such a big deal - for the first time in history people can keep records in a decentralized database that no one can alter. That's the value, it has nothing to do with all the stupid hype that people talk about. Almost everyone misses the point.
We agree on the gold/Ponzi/CBDC stuff. But bitcoin/crypto is its own thing, that doesn't depend on gold or any fiat currency to survive. Bitcoin itself has a hard supply cap so no one can ever "print" more than is supposed to exist, and anyone can audit the supply at any time. That means no one can cheat the system. If you think Bitcoin was/is part of the CBDC plan, why would they create something like that?
This reminds me of a FarSide cartoon, to which two long-necked dinosaurs said to the other, "It would take an extinction level event to end all this." They both laughed, "Right! Like that's going to happen!". What did NASA just announce? Gold is forever. Digital currency requires milliVolts that can easily be shut down just like the voting in Georgia.
The CBDC digital currency is a much faster shell game, but a Ponzi Scheme lives and dies as one no matter how much it is disguised.