I absolutely understand how a 51% attack works and a hard fork. You know what stops a 51% attack, a high price.
A hard fork that is not expressly planned for would completely destroy the application you are talking about. People have to actually use the fork for it to be useful. Example, Ethereum recently hard forked and the old chain completely died off because it was prepared for and everyone stopped using it. Another example is Bitcoin and Bitcoin Cash. Bitcoin Cash hard forked off Bitcoin because they wanted the ability to process more transactions per block. How is that a problem?
Everything is manipulated. Crypto trading is the Wild West right now. It doesn’t make blockchain itself a scam and there are a lot of world changing items coming up out of blockchain.
Bitcoin is majority owned by a few people already. You know this. That pede is right about all those vulenerabilities and you're right that so far, the price keeps going up and up and nobody's really popped the system the way it's set up to be popped. If people want to take the risk and ride the wave, why not, the wave keeps going. But they should do so knowing all the facts.
To call it a scam all crypto a scam is outright wrong though. Blockchain has the ability to revolutionize the tech world as we know it by removing the middle men from a lot of everyday life.
The last hurtle facing the majority of decentralized blockchain is transaction speed. Once they figure out how to scale a chain to handle millions of transactions a minute, the gates will be open. A lot of money is working on that exact problem now.
I absolutely understand how a 51% attack works and a hard fork. You know what stops a 51% attack, a high price.
A hard fork that is not expressly planned for would completely destroy the application you are talking about. People have to actually use the fork for it to be useful. Example, Ethereum recently hard forked and the old chain completely died off because it was prepared for and everyone stopped using it. Another example is Bitcoin and Bitcoin Cash. Bitcoin Cash hard forked off Bitcoin because they wanted the ability to process more transactions per block. How is that a problem?
Everything is manipulated. Crypto trading is the Wild West right now. It doesn’t make blockchain itself a scam and there are a lot of world changing items coming up out of blockchain.
Bitcoin is majority owned by a few people already. You know this. That pede is right about all those vulenerabilities and you're right that so far, the price keeps going up and up and nobody's really popped the system the way it's set up to be popped. If people want to take the risk and ride the wave, why not, the wave keeps going. But they should do so knowing all the facts.
To call it a scam all crypto a scam is outright wrong though. Blockchain has the ability to revolutionize the tech world as we know it by removing the middle men from a lot of everyday life.
The last hurtle facing the majority of decentralized blockchain is transaction speed. Once they figure out how to scale a chain to handle millions of transactions a minute, the gates will be open. A lot of money is working on that exact problem now.