Which is also why Google is trying to achieve quantum supremacy. The next step after that is breaking cryptography wholesale. Once that happens, good luck keeping control of anything that interfaces with the the internet including your bank accounts. Even if you’ve never used an online banking service.
Them keeping it quiet is the real danger because, legally, they under no obligation to disclose when it happens. As much as I hate throwing taxpayer money at things, it would makes sense to me to have some military funding going toward this type of thing. It’s not just a personal but also national security issue. Nothing currently is stopping Alphabet from selling the technology to China.
That’s of course assuming it isn’t being largely developed by H1B contractors whose ultimate plan is to steal the tech for their own governments, but it’s pretty much a foregone conclusion that such a thing IS happening at this point.
Those are fair questions. You say it’s a waste of electricity, but compared to what? This is a de-centralized store of value. There’s never been anything like this outside of precious metals. Additionally, most of the cost is in mining the initial 21 million coins.
It’s not “funny money”. It’s secured cryptographically. You trust crypto enough to do payments over the internet right? This is not different.
There are various methods of recovery, but yes, in the end, if you lose certain details, you lose the money. That’s how you get the security though. If anybody could recover your funds without your key, it wouldn’t be very secure, would it?
If you are very concerned about it, you could keep the details on a piece of paper locked in a safe. It would be quite secure, and easier to transport than gold.
China is indeed a concern, but miners have an incentive to be honest. If they tried to cheat, the value of all their bitcoin would go to zero.
Bitcoin is not the end all. We’ll see how it evolves, but cryptocurrency is the future in any case.
In my opinion crypto is basically our (freedom loving individuals) only hope for the future. It goes so far beyond currency.
Which is also why Google is trying to achieve quantum supremacy. The next step after that is breaking cryptography wholesale. Once that happens, good luck keeping control of anything that interfaces with the the internet including your bank accounts. Even if you’ve never used an online banking service.
Them keeping it quiet is the real danger because, legally, they under no obligation to disclose when it happens. As much as I hate throwing taxpayer money at things, it would makes sense to me to have some military funding going toward this type of thing. It’s not just a personal but also national security issue. Nothing currently is stopping Alphabet from selling the technology to China.
That’s of course assuming it isn’t being largely developed by H1B contractors whose ultimate plan is to steal the tech for their own governments, but it’s pretty much a foregone conclusion that such a thing IS happening at this point.
I can't get behind crypto and it's flaws. Colossal waste of electricity, natural resources, and computing power for fictional funny money.
Why is anything with artificial scarcity valued so heavily?
What about lost passwords and people who pass away? When that happens stashes are gone indefinitely.
Chyna is the pretty much the biggest reason I oppose crypto, they have the largest and most crypto farms
colossal waste? Depends on the crypto.
It is valuable because governments are predicted to go in mass inflation.
Lost pass words are a thing but you can be smart about that and even set up trusts to handle your crypto after death.
And peter thiel is working on making texas the largest crypto producer and he is pro trump.
Those are fair questions. You say it’s a waste of electricity, but compared to what? This is a de-centralized store of value. There’s never been anything like this outside of precious metals. Additionally, most of the cost is in mining the initial 21 million coins.
It’s not “funny money”. It’s secured cryptographically. You trust crypto enough to do payments over the internet right? This is not different.
There are various methods of recovery, but yes, in the end, if you lose certain details, you lose the money. That’s how you get the security though. If anybody could recover your funds without your key, it wouldn’t be very secure, would it?
If you are very concerned about it, you could keep the details on a piece of paper locked in a safe. It would be quite secure, and easier to transport than gold.
China is indeed a concern, but miners have an incentive to be honest. If they tried to cheat, the value of all their bitcoin would go to zero.
Bitcoin is not the end all. We’ll see how it evolves, but cryptocurrency is the future in any case.