This is some mix of truth, guesses, misunderstanding and propaganda.
You really don't need to guess, if you have source code. Just look at it, and that's all.
Destroy CASH forever
Cryptocurrency is closest thing to the cash you could think out in digital realm. It is even more cashier (can I say so?) than cash itself. The main differences are: You could "print" crypto by yourself, you can create your own coins, and crypto is more complex in transactions. Last difference make the "destroying of cash" using crypto impossible.
Likewise create 100% digital money systems
In depth you will find that all money systems are 100% digital. Hardly somewhere on Earth you will find a country with gold coins in real everyday circulation. Everything else is digital. Even that pieces of paper with serial numbers and value printed on them.
Have total traceability of digital money
Yep. Bitcoin-like crypto is completely traceable. From address to address. That's the core feature from the beginning. But there are no way implemented to figure out an owner of address. Also, there exist non-traceable cryptos like Monero.
Don't forget that cash is perfectly traceable too. That is why they print serials on cash.
Facilitate the "great reset" and social credit score systems of political reprisal
It's orthogonal, really. Crypto is just a tool. You could use it for anything.
Give the illusion of safety security of the digital money
Crypto is as safe and secure as owner able to keep. You could easily loose all your crypto, just like with bank account or cash.
Give the illusion of safety and security of blockchain based voting systems
Voting system can't be safe and secure at all if you can't check that your vote was counted and counted correctly, and all other votes belong to real people that also could check their votes. This safety and security is independent from the system behind voting. Blockchain does not provide that properties.
Give the illusion of safety and security of digital identity
Not true. You could create any number of identities (addresses/wallets) in any crypto system. Safety and security of that identities depends only on your understanding of how it works.
It's an illusion because the NSA can currently crack a single wallet with all their resources.
No. It's an illusion of NSA might. To crack a wallet you had to spent much more power and time than to mine average coins in that wallet. So there are completely no any sense to crack someone wallet. Cracking wallet gives you only one thing - the ownership of the coins in that wallet, nothing more.
It's extremely likely that cryptocurrency was invented by the NSA itself. After all they created the public key cryptography algorithms and crypto hash algorithms that cryptocurrency uses.
No. There are many cryptocurrencies around and they use different cryptography, including ones that was not created by NSA or any other agency. You could even create your own cryptocurrency based on your own cryptography
Blockchains are not quantum secure. They can be unzipped by quantum computers that have a sufficiently high enough qbit processor;
"Quantum computers" is just another marketing hoax along with AI and other crap. They don't work in the way as pushed in MSM. They are very special devices with very limited circle of tasks. The best thing existing quantum computers could do is to simulate not very complex system of randomly moving particles interaction with each other. And seems that nothing will change in closest decades.
It's possible for NSA to crack a wallet but leave the money there; so someone would never know their wallet is compromised.
There are no any sense to crack the wallet and don't touch the money at all. You don't need to crack a wallet unless you need to transfer the money to another address.
The NSA could have a database of private keys they've stolen from cracked wallets just waiting to collapse the entire blockchain in one fell swoop at some time in the future. I call this the "Forthcoming crypto backdoor"
That can't be used to do something with cryptocurrency system. If you crack a wallet, the only thing you get - is an ability to transfer money to another address and that's all. Transferring money from one address to another is what all that thing was created for. To damage Bitcoin-like cryptocurrency you need to take over more than 50% of computing power of whole cryptocurrency network, not to crack wallets.
It's going to be impossible to correct problems with such a system unless there is an authority, such as a special digital court
The main point of cryptocurrency is an absence of any authorities. If you found a cryptocurrency with some authority - it is a bad, fake and useless cryptocurrency.
Really crypto hardly will jump out its current niche. There are too many disadvantages in existing cryptocurrencies, including blockchain itself, that completely prevent its wider usage, not even talking about replacing cash.
Reading through your reply I get the impression that crypto is really no better than made up money at Disney Land or Canadian Tire. They give you their own currency for use in their location only, it’s POSSIBLE to use it elsewhere if a vendor allows it, but not always possible or easy.
Reading through your reply I get the impression that crypto is really no better than made up money at Disney Land or Canadian Tire.
Something like that. Difference is that it is issued not by some company, but by all people who involved in network. Value of that currency is created like value of any other currency - people who use it agree to use it like a mean of exchange. It differ only in that the confidence to state currencies are pushed by laws, and confidence in crypto is a product of people agreement.
If somebody will invent an cryptocurrency algorithm that will eliminate major problems of existing cryptos with speed of transactions, endless growth of blockchain and enormous computing power needed for running whole thing, that thing will become something like "Disney money" but accepted everywhere and issued by community of users.
Really, there are no many choices for "independent money". It is some precious metals/gems, improved cryptocurrencies or huge total barter network. If you know other alternatives, I'm all ears.
"Independent money" that could not be controlled by any authority, could not be taxed or confiscated could be a very helpful thing to defeat TPTB.
The problem with independent money is when things go south there’s no one to go to. I’m well aware of the corruption and lack of trust in the banks and the SEC but if you can bring proof forward shit can get done. If someone rips you off in bitcoin, you’re just SOL. There’s no regulator to report the bad exchange to. There’s no government to force an exchange to follow rules. MtGOX disappears overnight and thousands of people are out their coins and there’s nothing they can do about it.
Traditionally speaking it’s only the threat of force that keeps people in line. Play by the agreed rules or we come take everything and throw you in prison. We need to make the “elites” follow this same ruleset if we really to be bound by it, and with that cash still works. Having an unregulated currency system fails for me because I know people are greedy assholes and take advantage wherever they can.
Any regulation could work both ways. And currently, the way it works highly probably would not be for your interests. At least globally. You could win a single case, but the whole system make your win useless very soon. Inflation, taxes, rent, etc - they always took everything back.
Really, crypto is not unregulated at all. It is regulated by its algorithm, not by some authority. This gives a way to create an independent currency that will be resistant to "greedy assholeness" of people. Just mathematically. Interesting that there was attempts to create unconventional currencies resistant to greed in Nazi Germany. Money you own began to loose its value if you are keep them too long. So there was no way to accumulate them and to avoid losses you had to spend them by buying goods from other people. As money change owner, countdown to the time it began to loose value started again. Being greedy with that kind of money have no sense at all. You was pushed to make them and spend them by their nature. Of course that system was not perfect, and experiment was destroyed too soon by war.
This is some mix of truth, guesses, misunderstanding and propaganda. You really don't need to guess, if you have source code. Just look at it, and that's all.
Cryptocurrency is closest thing to the cash you could think out in digital realm. It is even more cashier (can I say so?) than cash itself. The main differences are: You could "print" crypto by yourself, you can create your own coins, and crypto is more complex in transactions. Last difference make the "destroying of cash" using crypto impossible.
In depth you will find that all money systems are 100% digital. Hardly somewhere on Earth you will find a country with gold coins in real everyday circulation. Everything else is digital. Even that pieces of paper with serial numbers and value printed on them.
Yep. Bitcoin-like crypto is completely traceable. From address to address. That's the core feature from the beginning. But there are no way implemented to figure out an owner of address. Also, there exist non-traceable cryptos like Monero. Don't forget that cash is perfectly traceable too. That is why they print serials on cash.
It's orthogonal, really. Crypto is just a tool. You could use it for anything.
Crypto is as safe and secure as owner able to keep. You could easily loose all your crypto, just like with bank account or cash.
Voting system can't be safe and secure at all if you can't check that your vote was counted and counted correctly, and all other votes belong to real people that also could check their votes. This safety and security is independent from the system behind voting. Blockchain does not provide that properties.
Not true. You could create any number of identities (addresses/wallets) in any crypto system. Safety and security of that identities depends only on your understanding of how it works.
No. It's an illusion of NSA might. To crack a wallet you had to spent much more power and time than to mine average coins in that wallet. So there are completely no any sense to crack someone wallet. Cracking wallet gives you only one thing - the ownership of the coins in that wallet, nothing more.
No. There are many cryptocurrencies around and they use different cryptography, including ones that was not created by NSA or any other agency. You could even create your own cryptocurrency based on your own cryptography
"Quantum computers" is just another marketing hoax along with AI and other crap. They don't work in the way as pushed in MSM. They are very special devices with very limited circle of tasks. The best thing existing quantum computers could do is to simulate not very complex system of randomly moving particles interaction with each other. And seems that nothing will change in closest decades.
There are no any sense to crack the wallet and don't touch the money at all. You don't need to crack a wallet unless you need to transfer the money to another address.
That can't be used to do something with cryptocurrency system. If you crack a wallet, the only thing you get - is an ability to transfer money to another address and that's all. Transferring money from one address to another is what all that thing was created for. To damage Bitcoin-like cryptocurrency you need to take over more than 50% of computing power of whole cryptocurrency network, not to crack wallets.
The main point of cryptocurrency is an absence of any authorities. If you found a cryptocurrency with some authority - it is a bad, fake and useless cryptocurrency.
Really crypto hardly will jump out its current niche. There are too many disadvantages in existing cryptocurrencies, including blockchain itself, that completely prevent its wider usage, not even talking about replacing cash.
Reading through your reply I get the impression that crypto is really no better than made up money at Disney Land or Canadian Tire. They give you their own currency for use in their location only, it’s POSSIBLE to use it elsewhere if a vendor allows it, but not always possible or easy.
Something like that. Difference is that it is issued not by some company, but by all people who involved in network. Value of that currency is created like value of any other currency - people who use it agree to use it like a mean of exchange. It differ only in that the confidence to state currencies are pushed by laws, and confidence in crypto is a product of people agreement.
If somebody will invent an cryptocurrency algorithm that will eliminate major problems of existing cryptos with speed of transactions, endless growth of blockchain and enormous computing power needed for running whole thing, that thing will become something like "Disney money" but accepted everywhere and issued by community of users.
Really, there are no many choices for "independent money". It is some precious metals/gems, improved cryptocurrencies or huge total barter network. If you know other alternatives, I'm all ears.
"Independent money" that could not be controlled by any authority, could not be taxed or confiscated could be a very helpful thing to defeat TPTB.
The problem with independent money is when things go south there’s no one to go to. I’m well aware of the corruption and lack of trust in the banks and the SEC but if you can bring proof forward shit can get done. If someone rips you off in bitcoin, you’re just SOL. There’s no regulator to report the bad exchange to. There’s no government to force an exchange to follow rules. MtGOX disappears overnight and thousands of people are out their coins and there’s nothing they can do about it. Traditionally speaking it’s only the threat of force that keeps people in line. Play by the agreed rules or we come take everything and throw you in prison. We need to make the “elites” follow this same ruleset if we really to be bound by it, and with that cash still works. Having an unregulated currency system fails for me because I know people are greedy assholes and take advantage wherever they can.
Any regulation could work both ways. And currently, the way it works highly probably would not be for your interests. At least globally. You could win a single case, but the whole system make your win useless very soon. Inflation, taxes, rent, etc - they always took everything back.
Really, crypto is not unregulated at all. It is regulated by its algorithm, not by some authority. This gives a way to create an independent currency that will be resistant to "greedy assholeness" of people. Just mathematically. Interesting that there was attempts to create unconventional currencies resistant to greed in Nazi Germany. Money you own began to loose its value if you are keep them too long. So there was no way to accumulate them and to avoid losses you had to spend them by buying goods from other people. As money change owner, countdown to the time it began to loose value started again. Being greedy with that kind of money have no sense at all. You was pushed to make them and spend them by their nature. Of course that system was not perfect, and experiment was destroyed too soon by war.