Cryptographically mined currency is backed by the carbon effort consumed in producing it.
The value is secured across multiple computers, constantly updating and verifying the Ledger, this is called "blockchain".
Bitcoin has a finite supply that cannot be artificially increased, which is why its value (compared to fiat) has only increased since its inception, if you zoom out.
It is humanity's primary weapon against the central bank system, and any individual 's lack of understanding of it doesn't affect its significance
I'm wondering what happens when the electricity stops. With paper you can spend it even in the dark. With crypto once an EMP hit everybody holding crypto is royally screwed. How are we gonna get our bits of coin out of a computer when it turns into a desk sitting brick?
An EMP doesn't just take out the entire planet. It would be still very localized and would only take out everything in a round cone shape beneath the EMP detonation. It would not neutralize the entire planet all at once.
In the 60s the government tested this with I think something like a 3 Megaton blast near hawaii, and it caused quite a bit of havoc but, and EMP capable of taking out the whole planet would be many times larger than the largest nuclear weapon we have ever created.
Edit: i asked GPT
The test you're referring to is likely the Starfish Prime test conducted by the United States in 1962. This was a 1.4 megaton nuclear explosion detonated 400 kilometers above the Pacific Ocean, near Hawaii. The EMP from this test caused disruptions to electrical systems over 1,400 kilometers away, including damage to satellites and electrical infrastructure in Hawaii, but it was far from global in impact.To affect the entire planet with an EMP would require a massive and highly coordinated series of detonations, far beyond our current capabilities.
Can someone explain to me how Crypto of any sort is not a digital currency? What is it tangibly backed by?
Cryptographically mined currency is backed by the carbon effort consumed in producing it.
The value is secured across multiple computers, constantly updating and verifying the Ledger, this is called "blockchain".
Bitcoin has a finite supply that cannot be artificially increased, which is why its value (compared to fiat) has only increased since its inception, if you zoom out.
It is humanity's primary weapon against the central bank system, and any individual 's lack of understanding of it doesn't affect its significance
If it's finite, what happens when it runs out?
I'm wondering what happens when the electricity stops. With paper you can spend it even in the dark. With crypto once an EMP hit everybody holding crypto is royally screwed. How are we gonna get our bits of coin out of a computer when it turns into a desk sitting brick?
An EMP doesn't just take out the entire planet. It would be still very localized and would only take out everything in a round cone shape beneath the EMP detonation. It would not neutralize the entire planet all at once.
In the 60s the government tested this with I think something like a 3 Megaton blast near hawaii, and it caused quite a bit of havoc but, and EMP capable of taking out the whole planet would be many times larger than the largest nuclear weapon we have ever created.
Edit: i asked GPT