Orange Man, Orange Coin, No coincidences!
(media.greatawakening.win)
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All that's fine. It still doesn't solve the problem of spending over the internet, or securely carrying around large sums with you everywhere you go.
No one is arguing against the value of having some precious metals, but that is not the only scenario to prepare for. Crypto is going to be part of the future whether anyone likes it or not. It is going to be part of financial portfolios and it's better to understand how it actually works than to just ignore it.
Most of what is going to be built by institutions/corporations for crypto is based on Proof of Stake systems which are very different than Proof of Work. Proof of Stake means those who own the most coins/tokens can control the whole system. Proof of Work means you have to actually expend real energy to get a reward.
Also BTC has been crippled so that it can't support future growth which is why they are all pushing Lightning Network which is an overcomplicated shitshow that only reintroduces the fractional reserve banking system on top of BTC and is meant to kill it.
Bitcoin Cash was a split from the original chain back in 2017 because they saw the writing on the wall and preserved the original design.
Im not really sure a digital wallet that can be shut down on a whim by some petty tyrant or permanently smashed by an EMP is the answer either.
I do think eventually a gold/silver backed blockchain currency will be used but it must have also have a physical manifestation.
Todays commerce is way to vulnerable to interruption through natural or other means. Shit if the power goes out stores have to shut down because they have no way to complete a sale without thier machines. They have no way to even accept money. Thier readers dont work, their registers dont work.
So, a wallet is just a piece of software that handles your private keys. It can't be shut down or shut off by anyone. The only way you can lose access to your wallet is if you lose your private key.
The private key is just a really long unique set of random data. You can save as a list of words that you can write down or etch onto steel. Then, if you ever do lose your private key, you can restore it from anywhere.
So it is tyrant and EMP proof.
However, if you sign up for a Bitcoin "account" with a company that generates the private key for you, none of this holds true because the company owns and controls the key and can lock you out if you fail to comply with their KYC requirements.
The answer is to always only use self-generated wallets, then you can't be shut down or restricted in any way.