Agree ^^^ it's the same ridiculous argument over and over. Doubters miss the whole point of Bitcoin. All cryptocurrency is not the same. But, take time to understand what Bitcoin stands for and everyone here would be on board.
As long as the same crooks are in charge I will never be on board. As long as they can just tax the shit out of everyone for what they want I will never be on board.
One strong EMP blast over North America will cause serious damage, but it will differ by regions. In some areas, it will cause serious damage to electrical power. In other areas, only 40% to 50% of grid will be incapacitated. In some better prepared grid areas, only 25% of electrical capacity will be incapacitated. Preparedness and some luck will play a role.
The problem is that, if an enemy sent an EMP... it will involve more than one. If it happens at all, there may be 4 or 5 blasts. Quintuple-tap.
I have colored myself skeptical on crypto for many reasons, but not one of them warrants government controls on crypto. Whether its gonna be the future or just a dud in the end, its gotta be free and if Trump is on board with it, it will win over. hearts of many dream eyed people!
I see it as another avenue towards Fedcoin / CBDC. I want anonymity. I do not want the federal government being able to control how when where or what I spend my currency. I also want something tangible that is backed. I know everyone says that US Currency is going to end or devalue to a point that it's worthless, it still has the backing of the Federal Government.
I am completely ignorant on bitcoin or other crypto other than knowing the incredible losses when people do not hold the crypto themselves. That being said, I do not see what tangible backing it has to protect it's value. I understand it's limited and there is only so many can be produced. I also know I need to study it more, but from my limited smooth brain, if several key governments limited it's use or like ponzi schemes, if everyone pulled their value out let's say due to a global crisis, what intrinsic value is backing it ?
What "intrinsic value" backs an Excel spreadsheet? In ancient rural villages, what "intrinsic value" backed the ledger that the village headman kept saying who owed what? That is what crypto is. Nothing more than an incorruptible, digital ledger. It solves the Byzantine General's problem of trust.
The problem is thinking of any money as something of intrinsic value. It isn't. All money, fiat cash included, is merely an accounting mechanism that has value solely because people decide to give it value.
If you want intrinsic value, only direct barter can offer that. Even gold is just a rock. Nobody values a rock...they value what that rock represents, and it works as an accounting mechanism because of its intrinsic properties.
Gold has intrinsic value because it does not corrode. Gold plating adds intrinsic value (and quality) to anything it is put onto. Therefore, gold always has a demand, and intrinsic value.
Crypto is just a technology. It can be used in millions of ways in addition to Bitcoins.
CDBC is just a digital currency technology without necessarily having the crypto component to it.
"Crypto" aspect refers to the use of encryption in such a way that the ledger can be stored publicly without worrying about unauthorized access or tampering.
Think of it as a coast to coast highway - like route 66. You take the same highway whether you want to get off at California or Arizona or Texas. Where you end up will depend on exactly what exit you take.
The real crypto currency that is backed by some real assets, that protects privacy of people while at the same time provides transparency of government spending, with no central control is yet to be unveiled. High probability that its already in development.
The real crypto currency that is backed by some real assets
This is my primary gripe, the existing cryptos that in my limited knowledge, is backed by zilch. If you're old enough, 15 years ago or so, people were flipping - collecting beany babies, cheap shit that can be produced over and over, with a tangible value of making some kid smile at best. I knew of two people who dumped 10's of thousands into buying and holding this shit for part of their retirement. I am sure you can see how it ended. The difference I see between bitcoin and this, is at least they got a stuff animal out of the deal.
Now back to something backed, I am with you on the anonymity at a high level. With something backed, I would feel a bit better, like the proposed fedcoin etc, but in the right hands and controls. I still see risk because I am old enough to remember when people never thought the standards of encryption would cracked. I get most of your points and I have more understanding to do on my side. I like the control aspect of transparency, that provides a whole lot clarity and honesty but still see too many risks, which admittedly, a lot is probably due to my lack of knowledge. I still prefer paper, but as you say, having a ledger prevents or provides a window to see the printer go burrrrrrrr.
Thanks for taking the time to provide some insight.
In agreement, crypto has the same sustainability as electric cars. The same weakness, the same autistic following, the same manipulation ability (no, nothing ever in this world besides God himself is outside of the realm of tampering), and the same deception of hope. But there are people including mods on this board who will persecute you for having this opinion, so tread lightly, unfortunately.
if it hasn't already been used to steal ALL block chain material
No need to steal the block chain material.
Just become a node and you have access to all of it to download
Then you can have your magical quantum computer crack all the passwords and encryption and transfer all the amounts to addresses that only you control.
Just one more thing.
Now you just have to convince ten thousand+ other nodes that still have the original blockchain to all switch to your new blockchain with all your changes.
Hope you have a farm, guns, and ammo. Because if an EMP or a good hack happens, crypto is going to be the LAST thing on peoples minds.
If that even happens, then we're all going to be sent back to the stone age. Stupid thing to worry about imo.
Agree ^^^ it's the same ridiculous argument over and over. Doubters miss the whole point of Bitcoin. All cryptocurrency is not the same. But, take time to understand what Bitcoin stands for and everyone here would be on board.
As long as the same crooks are in charge I will never be on board. As long as they can just tax the shit out of everyone for what they want I will never be on board.
They cannot garnish your Bitcoin if you refuse to pay taxes.
To put this succinctly, the reason Bitcoin is so revolutionary is that ownership and validation of ownership and quantity are all distributed.
No other bartering medium offers that, not even gold and silver.
Nobody is “in charge” of Bitcoin. That’s the beauty of it. Exchanges have owners, but not the platform itself.
It removes the need to trust someone with something they can’t be trusted with.
Security is a legitimate concern with it. Method of hodling is a legitimate concern with it, but not so much the platform itself.
You're still missing the point of what Bitcoin stands for, Cherokee.
right. old guard etc etc.
only doom if you expect to lose.
👌👍
It stands for diverting demand away from gold and silver.
Who audits the gold supplies? Can you forever trust those who audit the gold?
It stands for freedom outside the centralized money system.
I once thought it stood for ordering weed over the interwebs.
One strong EMP blast over North America will cause serious damage, but it will differ by regions. In some areas, it will cause serious damage to electrical power. In other areas, only 40% to 50% of grid will be incapacitated. In some better prepared grid areas, only 25% of electrical capacity will be incapacitated. Preparedness and some luck will play a role.
The problem is that, if an enemy sent an EMP... it will involve more than one. If it happens at all, there may be 4 or 5 blasts. Quintuple-tap.
They would have to send multiple balloons and we would never allow a simple emp balloons to drift to our transformer stations /s
Satillites can run in space while an EMP goes off on the ground.
Or perhaps a massive solar flare? Boom boom boom boom!
You won't even survive a solar flare.
I have colored myself skeptical on crypto for many reasons, but not one of them warrants government controls on crypto. Whether its gonna be the future or just a dud in the end, its gotta be free and if Trump is on board with it, it will win over. hearts of many dream eyed people!
I see it as another avenue towards Fedcoin / CBDC. I want anonymity. I do not want the federal government being able to control how when where or what I spend my currency. I also want something tangible that is backed. I know everyone says that US Currency is going to end or devalue to a point that it's worthless, it still has the backing of the Federal Government.
I am completely ignorant on bitcoin or other crypto other than knowing the incredible losses when people do not hold the crypto themselves. That being said, I do not see what tangible backing it has to protect it's value. I understand it's limited and there is only so many can be produced. I also know I need to study it more, but from my limited smooth brain, if several key governments limited it's use or like ponzi schemes, if everyone pulled their value out let's say due to a global crisis, what intrinsic value is backing it ?
What "intrinsic value" backs an Excel spreadsheet? In ancient rural villages, what "intrinsic value" backed the ledger that the village headman kept saying who owed what? That is what crypto is. Nothing more than an incorruptible, digital ledger. It solves the Byzantine General's problem of trust.
The problem is thinking of any money as something of intrinsic value. It isn't. All money, fiat cash included, is merely an accounting mechanism that has value solely because people decide to give it value.
If you want intrinsic value, only direct barter can offer that. Even gold is just a rock. Nobody values a rock...they value what that rock represents, and it works as an accounting mechanism because of its intrinsic properties.
...well said
Gold has intrinsic value because it does not corrode. Gold plating adds intrinsic value (and quality) to anything it is put onto. Therefore, gold always has a demand, and intrinsic value.
Crypto is just a technology. It can be used in millions of ways in addition to Bitcoins. CDBC is just a digital currency technology without necessarily having the crypto component to it.
"Crypto" aspect refers to the use of encryption in such a way that the ledger can be stored publicly without worrying about unauthorized access or tampering.
Think of it as a coast to coast highway - like route 66. You take the same highway whether you want to get off at California or Arizona or Texas. Where you end up will depend on exactly what exit you take.
The real crypto currency that is backed by some real assets, that protects privacy of people while at the same time provides transparency of government spending, with no central control is yet to be unveiled. High probability that its already in development.
This is my primary gripe, the existing cryptos that in my limited knowledge, is backed by zilch. If you're old enough, 15 years ago or so, people were flipping - collecting beany babies, cheap shit that can be produced over and over, with a tangible value of making some kid smile at best. I knew of two people who dumped 10's of thousands into buying and holding this shit for part of their retirement. I am sure you can see how it ended. The difference I see between bitcoin and this, is at least they got a stuff animal out of the deal.
Now back to something backed, I am with you on the anonymity at a high level. With something backed, I would feel a bit better, like the proposed fedcoin etc, but in the right hands and controls. I still see risk because I am old enough to remember when people never thought the standards of encryption would cracked. I get most of your points and I have more understanding to do on my side. I like the control aspect of transparency, that provides a whole lot clarity and honesty but still see too many risks, which admittedly, a lot is probably due to my lack of knowledge. I still prefer paper, but as you say, having a ledger prevents or provides a window to see the printer go burrrrrrrr.
Thanks for taking the time to provide some insight.
BUT BRO CRYPTO
In agreement, crypto has the same sustainability as electric cars. The same weakness, the same autistic following, the same manipulation ability (no, nothing ever in this world besides God himself is outside of the realm of tampering), and the same deception of hope. But there are people including mods on this board who will persecute you for having this opinion, so tread lightly, unfortunately.
Everything is gone without electricity.
Yeah… it would be total chaos and mayhem. No one will be concerned about metals, just bullets.
Yes but for tens of thousands of years one was obtainable and one wasn't.
You're not surviving a grid collapse anyways, so what does it matter?
That’s what I’m saying.
Not that quantum computing will one day break ALL passwords / algorithms including Block chain in one day.
We already have Quantum Computing Resistant algorithms and cryptos with many more under active development.
Also if someday someone finally makes a working practical Quantum Computer It could be used to make a more secure crypto.
Chicken and the egg :
if it hasn't already been used to steal ALL block chain material
No need to steal the block chain material.
Just become a node and you have access to all of it to download
Then you can have your magical quantum computer crack all the passwords and encryption and transfer all the amounts to addresses that only you control.
Just one more thing.
Now you just have to convince ten thousand+ other nodes that still have the original blockchain to all switch to your new blockchain with all your changes.
Nukes will fly if quantum computing ever becomes a thing. Again, another ridiculous argument like the EMP.
yeah those darn conspiracy theories.....
When quantum becomes ubiquitous everything will change. Not just crypto.
That is, of course, a disconcerting possibility reliant on whether or not said encryption ever gets tangibly updated.
Who even knows where PC components will be in 40 years.
40 years....that's some serious hopium