Proof of SHA256 work. Not gonna explain Bitcoin mining in detail in this venue, but you can find videos or webpages explaining how it all works. Basically quadrillions of hashes are produced every second in order to find the next block. This next block contains the most recent transactions, verifying them, while also awarding 3.125 btc to the miner who found the correct nonce.
Your statements about hacking blockchains are not true (unless you have a link to share…) and the whole point of the cryptography behind the blockchain is that it can’t really be hacked. Even a tiny change will make the whole network reject your modified/hacked chain.
If the internet goes down you’ll be unable to use credit cards either. Everything will come to a screeching halt. Even gold sales won’t work unless you have cash. Once things come back up you’ll be able to use Bitcoin as normal.
One thing to note: Starlink means the internet won’t go down completely. As long as you have a battery to plug your receiver into, you can still access the internet via those satellites.
The deep state is trying to go cashless, though. Civil forfeiture, banks refusing to allow people to get large amounts of cash out of their accounts, events increasingly going cashless, etc.
There’s a war on cash and it’s just getting heated up. If cops find a bunch of cash on you they will seize your money without even bothering to charge you with a crime. The onus will be on you to prove you’re not a drug dealer. Innocent until proven guilty, my ass.
That said, I recommend that everybody have a few month of cash on hand. And gold. And Bitcoin. The deep state will attack all 3 as they try to set up a central bank digital currency. They control the banks and the credit card companies so we have no choice but to seek out alternatives or be at their mercy.
Proof of SHA256 work. Not gonna explain Bitcoin mining in detail in this venue, but you can find videos or webpages explaining how it all works. Basically quadrillions of hashes are produced every second in order to find the next block. This next block contains the most recent transactions, verifying them, while also awarding 3.125 btc to the miner who found the correct nonce.
Your statements about hacking blockchains are not true (unless you have a link to share…) and the whole point of the cryptography behind the blockchain is that it can’t really be hacked. Even a tiny change will make the whole network reject your modified/hacked chain.
I can dig what you are saying.. The thing is it independent of internet gate keepers. If the internet goes down, what happens then?
If the internet goes down you’ll be unable to use credit cards either. Everything will come to a screeching halt. Even gold sales won’t work unless you have cash. Once things come back up you’ll be able to use Bitcoin as normal.
One thing to note: Starlink means the internet won’t go down completely. As long as you have a battery to plug your receiver into, you can still access the internet via those satellites.
Cash is still king in the real world. Starlink is controlled by one entity in the digital world. That's not good.
The deep state is trying to go cashless, though. Civil forfeiture, banks refusing to allow people to get large amounts of cash out of their accounts, events increasingly going cashless, etc.
There’s a war on cash and it’s just getting heated up. If cops find a bunch of cash on you they will seize your money without even bothering to charge you with a crime. The onus will be on you to prove you’re not a drug dealer. Innocent until proven guilty, my ass.
That said, I recommend that everybody have a few month of cash on hand. And gold. And Bitcoin. The deep state will attack all 3 as they try to set up a central bank digital currency. They control the banks and the credit card companies so we have no choice but to seek out alternatives or be at their mercy.