Not all crypto. But Ethereum and its ecosystem has some of the worst cases of hacks and scams.
Fiat Cash gives you the problems we see today.
Metals are good for local transactions but not for long distance. Also in case of internet/electronic. The problem is you have to trust 3rd parties to safely secure and transport metals without fudging the numbers. These 3rd parties eventually become banks and as their greed and hold grows over time they eventually advocate for a Central Bank and fiat currency, repeating the same loop.
Crypto and blockchain is the only new tech that could free us from this loop. Crypto doesn't run into the problems of Triffin's Dilemna or the Cantillon Effect because the currency is distributed internationally and not from any one point.
You want a crypto that has:
code that's open source
no history of hacks
is decentralized in every way
scalability
efficiency
ability to be rebuilt with ledger intact if internet/electronics go down (more copies of the ledger makes this better)
smart contracts
low fees
Nobody wants CBDC in any way unless they profit from the control.
Just remember: XRP IS a CBDC. It doesn't belong in the same category as other crypto coins. XRP is run on a fully permissioned blockchain dictated and controlled by a centralized authority.
XRP was designed for and used by the central bankers. Literally ANYTHING is better than XRP. It is even worse than Proof of Stake coins, where an organization can control both the value AND the allowed transactions of a coin if they own enough of it. Only Proof of Work coins like BTC on a public blockchain are truly decentralized.
Keep in mind the following categories, and a convenient way to think about them:
XRP/CBDCs: Tyranny by central authorities
Proof of Stake: Tyranny by corporate structures
Proof of Work: Optimal decentralization
The beauty of Proof of Work is that a bad actor can own nearly all of a coin, but he still can't control spending of that coin. To do that, he must control a completely orthogonal resource. In this case, energy.
World's bridge currency. Ripple was chosen to build the rails and they are building all the CBDC's for the central banks and countries. Correct there is nothing good about the digital prison that has been built around us while we have been talking and pointing about the elections, wars and vaccines. Those have all been a distraction so they can get this in place and get the gates shut. If you think anything in the last 5 years were bad, wait until they flip the switch on this. "You give me control of the monetary system and I care not what laws you make"
Cardano has 3000 small business stake pool validators to process transactions. They are so cheap and easy to setup you can use a Raspberry Pi as the stake pool.
Cardano (ADA) that is staked to a stake pool increases its chances of validating a block and getting a payout. If a block is processed, stakers get a cut of transaction fees and newly minted crypto based on % they staked compared to the entire stake pool supply.
On Cardano, staked crypto is not held by the stake pools, it is delegated. It's basically voting with your tokens which stake pool processes transactions. This is Non-Custodial which is great because Ethereum doesn't work this way.
If too much Cardano (ADA) is staked in a stake pool, it doesn't become more likely to be picked to process transactions and it flattens out. This encourages more decentralization.
Because the cost of stake pool rig (raspberry pi) is so cheap and the amount you need to start staking (10 ADA) is so low, you see more stake pools instead of decreasing.
The minimum attack vector in Cardano is usually in the high 20s. That means it would take the 20+ biggest stake pool groups to come together to take over the network
Compare this with Mining pools on Bitcoin, if 3 of the biggest mining pools (or the people running the mining pool software) decide to join hands, they can take over the network in a 51% attack. Much worse imo.
I am not wrong. It has zero to do with how many small authenticators you do or do not have. ANY proof of stake coin is insecure, because it uses the SAME resource to decide who can authenticate as well as who can establish the coins value.
If I hold 99% of the tokens (through many shell companies), I can continue forever holding 99% of the tokens and I NEVER have to spend real money to be an authenticator. And I never have to give up my holdings. It is a fundamental flaw in the entire Proof of Stake industry. I can control everything and there is nothing anyone can ever do to wrest control away from me. If I don't want to sell my stake, you can only buy the tiny float I allow you to have. You can never dethrone me.
If I were to hold 99% of Bitcoin though, it gets me nothing. To control who can transact the other 1%, I have to spend actual money OUTSIDE OF THE BITCOIN ECOSYSTEM in order to control the authentication. And if enough people decide I'm an evil dictator, they can always ban together and eventually overwhelm me. This is because they don't need to buy my stake in BTC to authenticate. They only need energy, and I don't control that.
Proof of Stake is an inherently bad idea. It is exactly analogous to a corporate structure, where the people who control the stock control the coins. The fact that a coin may have many stakeholders does nothing to minimize the fact that a determined bad actor could set up many nominee stakeholders.
All Proof of Stake coins are inherently vulnerable to this. Only Proof of Work guarantees that nobody can control both sides.
Look into Cardano 😆 there's so many positives if you dive into the technical details and compare BTC, ETH, XRP, and Cardano
I am also becoming a Cardano developer so I am biased though. I've taken a lot of time to learn everything about it and how it's better in many ways. Others can't easily copy it because it's built completely differently from the ground up.
Ya I used to believe that lol. But it's an illusion. You are still investing in what you are against.
BTC controls all shit coins and has been taken over by deep state, thus why the updates. When Bitcoin halves it shoots up shitcoins. Doesn't take a rocket scientist to understand this. Only if you are lucky enough to still be able to sell at top and/or still have your coins available before some hacker takes your shit you can make money.
Even silver and gold (gods money) are manipulated and shorted. But I can at least hold in my hand at the end of the day. Same with currencies, real estate, collectibles, food, etc.
Pretty much have a spread over everything. Crypto id never hold a big position unless you can afford to lose it.
Civilization will not rise further unless there is a more efficient means of trading than just gold and silver.
While I invest in gold and silver, I'll also keep investing in crypto.
BTC controls all shit coins and has been taken over by deep state
Cardano is many ways superior to BTC in decentralization, efficiency, and using smart contracts. Its no shit coin and it gets constantly FUDed by crypto publications and prominent figures in the crypto industry but nothing backing up the FUD.
The better tech will win out and since Cardano has better tech and its EUTXO model programmed in Haskell can't be copied by Ethereum or Bitcoin, it holds a clear advantage since it expands beyond both of their capabilities.
You really don't know what you're talking about. You can destroy the Cabal and have an ever expanding future with minimal pain from the collapse. You get more freedom in the end and Crypto is the road there.
If Bitcoin is compromised (its not) then so what, anyone can make a copy of it and fix the problems that brought it down in the first place and compete on the open market. Basically what Cardano is doing, and Cardano being open source means anyone can copy it and fix its problems if needed. So far Cardano has had no hacks or bugs that have lost people money or brought down their blockchain.
In the end with only using gold and silver you don't fix the problem that started fiat in the first place and you give up on exploring any other options of escaping the Civilization Death Cycle before there's been time to fully mesh out new ideas. Idk what other people say but I call that dooming.
My Cryptos never been stolen so I'm perfectly fine Doomer.
Yeah we lived for thousands of years without gold and silver and we can go back to that but we'll have a period of shrinking and then stagnation. Because food and resources that were easily accessible before won't be when you have to tack on all the gold security and transport fees.
I intend to have a lineage that conquers planets and solar systems, not live in mud huts and longhouses!
There are new avenues and roads in life to discover and these just aren't viable on slow and inefficient forms of long distance trade.
The hacked cryptos of course won't win out, they suck! The better, more efficient, more value bringing tech will win out.
Not all crypto. But Ethereum and its ecosystem has some of the worst cases of hacks and scams.
Fiat Cash gives you the problems we see today.
Metals are good for local transactions but not for long distance. Also in case of internet/electronic. The problem is you have to trust 3rd parties to safely secure and transport metals without fudging the numbers. These 3rd parties eventually become banks and as their greed and hold grows over time they eventually advocate for a Central Bank and fiat currency, repeating the same loop.
Crypto and blockchain is the only new tech that could free us from this loop. Crypto doesn't run into the problems of Triffin's Dilemna or the Cantillon Effect because the currency is distributed internationally and not from any one point.
You want a crypto that has:
Nobody wants CBDC in any way unless they profit from the control.
Most of my holdings are ETH, then BTC, but it's XRP that I expect to mun.
JP Morgan was recently revealed to run a huge portion of the ETH infrastructure. ETH definitely has the favouritism of the SEC.
Just remember: XRP IS a CBDC. It doesn't belong in the same category as other crypto coins. XRP is run on a fully permissioned blockchain dictated and controlled by a centralized authority.
XRP was designed for and used by the central bankers. Literally ANYTHING is better than XRP. It is even worse than Proof of Stake coins, where an organization can control both the value AND the allowed transactions of a coin if they own enough of it. Only Proof of Work coins like BTC on a public blockchain are truly decentralized.
Keep in mind the following categories, and a convenient way to think about them:
The beauty of Proof of Work is that a bad actor can own nearly all of a coin, but he still can't control spending of that coin. To do that, he must control a completely orthogonal resource. In this case, energy.
World's bridge currency. Ripple was chosen to build the rails and they are building all the CBDC's for the central banks and countries. Correct there is nothing good about the digital prison that has been built around us while we have been talking and pointing about the elections, wars and vaccines. Those have all been a distraction so they can get this in place and get the gates shut. If you think anything in the last 5 years were bad, wait until they flip the switch on this. "You give me control of the monetary system and I care not what laws you make"
You are 100 percent right on proof of work.
You're wrong about Proof of Stake.
Cardano has 3000 small business stake pool validators to process transactions. They are so cheap and easy to setup you can use a Raspberry Pi as the stake pool.
Cardano (ADA) that is staked to a stake pool increases its chances of validating a block and getting a payout. If a block is processed, stakers get a cut of transaction fees and newly minted crypto based on % they staked compared to the entire stake pool supply.
On Cardano, staked crypto is not held by the stake pools, it is delegated. It's basically voting with your tokens which stake pool processes transactions. This is Non-Custodial which is great because Ethereum doesn't work this way.
If too much Cardano (ADA) is staked in a stake pool, it doesn't become more likely to be picked to process transactions and it flattens out. This encourages more decentralization.
Because the cost of stake pool rig (raspberry pi) is so cheap and the amount you need to start staking (10 ADA) is so low, you see more stake pools instead of decreasing.
The minimum attack vector in Cardano is usually in the high 20s. That means it would take the 20+ biggest stake pool groups to come together to take over the network
Compare this with Mining pools on Bitcoin, if 3 of the biggest mining pools (or the people running the mining pool software) decide to join hands, they can take over the network in a 51% attack. Much worse imo.
I am not wrong. It has zero to do with how many small authenticators you do or do not have. ANY proof of stake coin is insecure, because it uses the SAME resource to decide who can authenticate as well as who can establish the coins value.
If I hold 99% of the tokens (through many shell companies), I can continue forever holding 99% of the tokens and I NEVER have to spend real money to be an authenticator. And I never have to give up my holdings. It is a fundamental flaw in the entire Proof of Stake industry. I can control everything and there is nothing anyone can ever do to wrest control away from me. If I don't want to sell my stake, you can only buy the tiny float I allow you to have. You can never dethrone me.
If I were to hold 99% of Bitcoin though, it gets me nothing. To control who can transact the other 1%, I have to spend actual money OUTSIDE OF THE BITCOIN ECOSYSTEM in order to control the authentication. And if enough people decide I'm an evil dictator, they can always ban together and eventually overwhelm me. This is because they don't need to buy my stake in BTC to authenticate. They only need energy, and I don't control that.
Proof of Stake is an inherently bad idea. It is exactly analogous to a corporate structure, where the people who control the stock control the coins. The fact that a coin may have many stakeholders does nothing to minimize the fact that a determined bad actor could set up many nominee stakeholders.
All Proof of Stake coins are inherently vulnerable to this. Only Proof of Work guarantees that nobody can control both sides.
Look into Cardano 😆 there's so many positives if you dive into the technical details and compare BTC, ETH, XRP, and Cardano
I am also becoming a Cardano developer so I am biased though. I've taken a lot of time to learn everything about it and how it's better in many ways. Others can't easily copy it because it's built completely differently from the ground up.
Agree. I own about 400+ projects... I buy the teams, not the tech, and it's worked for me
That's a pretty good plan and much harder to evaluate. Of course ideally being good in both is
How do you go about grading the different projects?
Cardano has too many coins.
False
How's that a negative?
They are all controlled once they are worth something.
Also false
ETH and BTC only ones worth a shit cause controlled. All your shit coins they dgaf.
How do you see btc being controlled in the future? Just wondering.
Its already controlled. Thus BTC fork. Thus high transaction fees. Eth has same problem with fees.
When eth hit highs those fees to move it went up big time.
What about Monero Xrm?
Monero is great! Privacy coins are awesome and Monero is the King of Privacy Coins!
I heard pirate key is better but I've never used it
I've heard Zcash and PirateCoin were good contenders for the King of Privacy Coins but yeah I haven't used those either.
Ya I used to believe that lol. But it's an illusion. You are still investing in what you are against.
BTC controls all shit coins and has been taken over by deep state, thus why the updates. When Bitcoin halves it shoots up shitcoins. Doesn't take a rocket scientist to understand this. Only if you are lucky enough to still be able to sell at top and/or still have your coins available before some hacker takes your shit you can make money.
Even silver and gold (gods money) are manipulated and shorted. But I can at least hold in my hand at the end of the day. Same with currencies, real estate, collectibles, food, etc.
Pretty much have a spread over everything. Crypto id never hold a big position unless you can afford to lose it.
You have demonstrated how little you actually know about crypto. But, conveniently for you, thats a good reason not to be in it.
Btc is based on sha256 which is nsa invention they likely have backdoor to.
NSA would not release an encryption into the wild that they could not break
No
Civilization will not rise further unless there is a more efficient means of trading than just gold and silver.
While I invest in gold and silver, I'll also keep investing in crypto.
Cardano is many ways superior to BTC in decentralization, efficiency, and using smart contracts. Its no shit coin and it gets constantly FUDed by crypto publications and prominent figures in the crypto industry but nothing backing up the FUD.
The better tech will win out and since Cardano has better tech and its EUTXO model programmed in Haskell can't be copied by Ethereum or Bitcoin, it holds a clear advantage since it expands beyond both of their capabilities.
You really don't know what you're talking about. You can destroy the Cabal and have an ever expanding future with minimal pain from the collapse. You get more freedom in the end and Crypto is the road there.
If Bitcoin is compromised (its not) then so what, anyone can make a copy of it and fix the problems that brought it down in the first place and compete on the open market. Basically what Cardano is doing, and Cardano being open source means anyone can copy it and fix its problems if needed. So far Cardano has had no hacks or bugs that have lost people money or brought down their blockchain.
In the end with only using gold and silver you don't fix the problem that started fiat in the first place and you give up on exploring any other options of escaping the Civilization Death Cycle before there's been time to fully mesh out new ideas. Idk what other people say but I call that dooming.
Ya. Well we lived without crypto for thousands of years. Lol.
What's that freedom like when a hacker steals your digital gold.
My Cryptos never been stolen so I'm perfectly fine Doomer.
Yeah we lived for thousands of years without gold and silver and we can go back to that but we'll have a period of shrinking and then stagnation. Because food and resources that were easily accessible before won't be when you have to tack on all the gold security and transport fees.
I intend to have a lineage that conquers planets and solar systems, not live in mud huts and longhouses!
There are new avenues and roads in life to discover and these just aren't viable on slow and inefficient forms of long distance trade.
The hacked cryptos of course won't win out, they suck! The better, more efficient, more value bringing tech will win out.