Trump says that we're going to embrace crypto
(twitter.com)
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (149)
sorted by:
Wrong about it being vaporware. You haven’t done your homework.
There isn’t a computer on earth you can trust.
You can trust the code. Thats the good thing about open-source software. It’s just math. You can trust math.
Intelligence agencies slip backdoors and compromises into oss all the time. Sometimes it lies hidden in the code for decades, probably being exploited all the while. There isn’t a piece of software on earth you can trust. Plus they also make ALLLLL the hardware, which you also cannot trust.
That’s the cool thing about blockchains, nothing in the code can be changed without everyone knowing about it. Thats the whole point.
Well I’ve been doing software development for 40 years. I also took the online Princeton Crypto Currency course and got an ‘A’’, so there’s that. I probably know how crypto works better than most.
And for the people who like crypto for the anonymity aspect, do you really think a government is going to embrace crypto without being able to track the participants of a transaction? Please!!
I’m guessing you’re the one that needs to do some more homework.
They can track your cashing out of crypto at centralized (licensed) exchanges. But other than that, you can remain anonymous. Thats why, ultimately, we don’t sell our crypto on an exchange, we use it to transact just like we would dollars. This is how we build a counter/parallel economy to starve the Beast.
You need to do your homework Mr. Princeton.
If the government can perfectly track Bitcoin transactions, then tell us who Satoshi Nakamoto is.
Did I say the government can track bitcoin transactions? You probably need to re-read.
However I wouldn’t doubt that the government is, or trying to, track bitcoin transactions today.
Full Stack developer here!
Nice to see another dev out there!
I’m guessing there are a bunch of developers on this site.
That’s awesome!
What is backing bitcoin? No I have not done my homework. The biggest draw from my limited knowledge on crypto is that it's limited and understand they use block chain, but at the end of the day, who stands behind bitcoin's intrinsic value? Is it only the people that hold it? Understand it's portability and having your own cold wallet, but I never got who is backing the value of it and if multiple governments said it cannot be used and the there was a rush to cash out, would the value not be determined by supply and demand? That's the big rub for me and I am up front and honest saying I have not spent the time to look into that and those I know who dabble in it have not been able to answer it for me.
Bitcoin’s value is derived from its protocol, which is built on a scarcity principle, secure nature, and stakeholder interest as a savings technology.
Bitcoin serves as digital gold, offering an inflation hedge and currency debasement protection.
Market cycles and liquidity shifts drive Bitcoin’s price volatility.
Bitcoin security is reinforced because of its high computational power and energy, which protects against potential attacks and bad actors.
Bitcoin has no intrinsic value.