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CROMAGA 2 points ago +2 / -0

Is that true? I thought it was decentralized.

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Morgoth 8 points ago +8 / -0

EMP ... Digital currency won't mean anything if you can't get to it.

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CROMAGA 2 points ago +3 / -1

Right, it’s just that pretty much everything is digital now. Unless you actually possess the tangible good, what’s it really but a bunch of ones and zeroes.

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deleted 1 point ago +1 / -0
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CROMAGA 1 point ago +1 / -0

Right, that’s what i said in the previous comment. Those are tangible goods. I don’t know too many people that actually have gold bullion. Usually they just have a claim on it.

Wealth relies so much on protection from either the government or a king lording over it.

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deleted 1 point ago +1 / -0
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Forgototherpassword 7 points ago +7 / -0

If a huge number of miners are instantly shut down, it creates the opportunity for a 51% attack.

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goddamnmongorians 6 points ago +6 / -0

Until the government declares it a threat to national security because it undermines the petrodollar.

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RegularAmerican 5 points ago +5 / -0

These same people who act like what Bill gates said about china trying to control the internet is like nailing jello to the wall. Well they froze that jello cryogenically and put it in a fancy frame for the world to see.

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deleted 4 points ago +8 / -4
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Kamalas_a_Bitch 2 points ago +5 / -3

Wow thanks for explaining that. Lesson learned: don’t go all in on crypto. Sounds like a place to keep no more than 10% of ones money.

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deleted 4 points ago +4 / -0
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Kamalas_a_Bitch -2 points ago +1 / -3

Yeah you are talking to someone who loaded ETH last summer and got all rainbow bear and sold when it hit 500. I suck at holding. Working on that. Now it all seems way too high to get back in. I think you are right, the dip is coming. However I also have been thinking that for the last 6 months. 🤦🏼‍♂️

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Klyuchak 1 point ago +1 / -0

While the 51% attack can be a serious problem, in now way is an EMP or power outage even remotely a danger for crypto, unless you somehow think a power outage or EMP is capable of wiping every hard drive on the planet. It could at best put a temporary halt to it, but ultimately as soon as the EMF radiation wears off, crypto is right back to were it left off. If you're whole system is on SSD(s) then you may have issues, but hard drives in addition to basically having a faraday cage built in around them, most also have a metal computer case around them. Controller may go down, but that doesn't touch the data, and really just locks it in if anything.

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deleted 1 point ago +1 / -0
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Klyuchak 1 point ago +1 / -0

Theorocally it can damage circutry permanatly, but that takes an insane amount of emergy, even on the scale of a neigborhood block, lets alone the entire USA or planet. We're talking nuclear holocaust at that point, no one left to look for bitcoin. The second big part of that is your hard drive has a metal case that blocks EMF radition, and the hard drive is usually inside a metal PC case, which further blocks EMF. But the final nail on the coffin is that the data on an HDD is on the platters, the small circuit board on the bottom is just the controller for the read/write head, and while you MIGHT be able to take that out, that will just lock that data on the platter, not destroy it.