You can't shut down every internet connection or/and every BTC/ETH node.
You're funds aren't on your wallet they are on the blockchain. With the key phrase written on a paper you can access your funds from any device with a connection in the future if anything drastic happens to your software or your national internet grid.
What is your alternative to storing large amounts of assets away from the long arm of the system?
Precious metals: Too many, too dangerous to store residential, dont trust deposit boxes
Real estate: They're coming for that soon
And look into Monero that's the real deal. And learn about DEFI.
Any concerns about quantum computing decrypting Blockchain?
Hasn't FBI already successfully traced Bitcoin transactions to catch pedos?
I'm not really pro or con Bitcoin. I think it has its advantages and disadvantages. The concept is interesting and maybe can be improved upon. Much of criticism of Bitcoin is silly coming from people dealing in fiat Jew bucks aka federal reserve notes which is worthless paper especially when Biden prints $16 trillion in short time diluting the whole supply to cover up crimes in Ukraine.
Theoretical quantum computers, if successfully built, is a threat to all encryption. Blockchains adds time complexity for each block appended to the chain. It will be the last system to break, and won't be of any use if that happens as the market valuation would instantly drop to $0 shortly after the first theft occurs.
Then a fork would be made, using a new quantum secure algorithm and a snapshot from before the thefts begun. This will restore everything almost instantly, while your bank will be fucked, any secured information you had encrypted will remain leaked and lot's of other problems.
FBI has never traced Bitcoin transactions in order to find people, this is outright bullshit. All fake news media FUD claiming this leaves out one important detail, and this will get you busted no matter how you pay.
Everyone who's gotten caught has done something stupid, like live streaming their crime from their own KYC verified fakebook accounts. They withdrew a large chunk of cash from their bank (serial numbers logged) and got their faces plastered allover the surveillance cameras, then the receiver of the payment shows up to the same bank, with the same large chunk of cash and want to deposit it to their account. Bam, now you're both busted. And it has nothing to do with medium of exchange, just some basic police work.
No you. What happens when the lights go out. I can think of it happening in thousands of scenarios. Now your currency is crap. It is anyway on transaction times. It is anyway on no fix rate. It is a gimmick. Money held in a fucking cloud. It isn't a bank. How do get money out of phone. You really don't. Money has value it is exchanged. That is something else. You use money buy it. A service selling something that costs more for less. It needs far more parts to exchange. What are you left with. Money stuck in a phone. Phone does that it costs money.
You've clearly done zero research into what Bitcoin is. I'm not going to spoon feed you arguments that are a Google search away. Just know that your arguments sound really dumb to anyone who's read even a little bit on the subject.
Paper cash will only be worth more "when the lights go out" (whatever that means) in the sense that one can use it for kindling. Totally agree that BTC is not a good currency in a post apocalyptic hellscape where there's no electricity. Really doubt that's where we're headed.
This is because digital books are not cryptographic secured and hashed to prove it's the original, they're stored on centralized servers (amazon e-books). Same goes for movies (netflix, hulu etc).
Torrents is slightly different as it's decentralized and hashed by default, this is why you can find unedited original content at thepiratebay for instance. Same goes for cryptocurrency, not to be confused with digital fiat, which runs on centralized servers with no transparency.
But is that the way it works? Bitcoin lost all its records, or were hacked at one point and had to start over.
I understand we are told its totally decentralized but there is no way that can be secure. Maybe thats just me but I do not see how anything can be secure that way. Viruses and hacks from hackers and governments are crazy on torrent. The blacklist on my firewall was huge, and I had to trust someone to generate it.
Maybe its just my paranoia. But all I see is a wild pig trap, if your familiar with that analogy.
Apologize for the formatting of my first comment. Ill fix it. Thanks for deciphering it and offering a well thought out response.
They are so afraid of people having an alternative.
No, they're not.
It is the most stupid currency imaginable.
Nothing in your hand and online. Like every other scam jacker.
How do get money out of phone. Phone don't work, no money. The dumbest.
At what fucking point. Seriously even monkeys are smarter.
Did not say anything about Bitcoin, did I?
You can't shut down every internet connection or/and every BTC/ETH node.
You're funds aren't on your wallet they are on the blockchain. With the key phrase written on a paper you can access your funds from any device with a connection in the future if anything drastic happens to your software or your national internet grid.
What is your alternative to storing large amounts of assets away from the long arm of the system?
Precious metals: Too many, too dangerous to store residential, dont trust deposit boxes
Real estate: They're coming for that soon
And look into Monero that's the real deal. And learn about DEFI.
Any concerns about quantum computing decrypting Blockchain?
Hasn't FBI already successfully traced Bitcoin transactions to catch pedos?
I'm not really pro or con Bitcoin. I think it has its advantages and disadvantages. The concept is interesting and maybe can be improved upon. Much of criticism of Bitcoin is silly coming from people dealing in fiat Jew bucks aka federal reserve notes which is worthless paper especially when Biden prints $16 trillion in short time diluting the whole supply to cover up crimes in Ukraine.
If quantum computing starts to look possible it would be straightforward for BTC to switch to cryptographic algorithms that are quantum-proof
Theoretical quantum computers, if successfully built, is a threat to all encryption. Blockchains adds time complexity for each block appended to the chain. It will be the last system to break, and won't be of any use if that happens as the market valuation would instantly drop to $0 shortly after the first theft occurs.
Then a fork would be made, using a new quantum secure algorithm and a snapshot from before the thefts begun. This will restore everything almost instantly, while your bank will be fucked, any secured information you had encrypted will remain leaked and lot's of other problems.
FBI has never traced Bitcoin transactions in order to find people, this is outright bullshit. All fake news media FUD claiming this leaves out one important detail, and this will get you busted no matter how you pay.
Everyone who's gotten caught has done something stupid, like live streaming their crime from their own KYC verified fakebook accounts. They withdrew a large chunk of cash from their bank (serial numbers logged) and got their faces plastered allover the surveillance cameras, then the receiver of the payment shows up to the same bank, with the same large chunk of cash and want to deposit it to their account. Bam, now you're both busted. And it has nothing to do with medium of exchange, just some basic police work.
Please try to educate yourself
No you. What happens when the lights go out. I can think of it happening in thousands of scenarios. Now your currency is crap. It is anyway on transaction times. It is anyway on no fix rate. It is a gimmick. Money held in a fucking cloud. It isn't a bank. How do get money out of phone. You really don't. Money has value it is exchanged. That is something else. You use money buy it. A service selling something that costs more for less. It needs far more parts to exchange. What are you left with. Money stuck in a phone. Phone does that it costs money.
You've clearly done zero research into what Bitcoin is. I'm not going to spoon feed you arguments that are a Google search away. Just know that your arguments sound really dumb to anyone who's read even a little bit on the subject.
Paper cash will only be worth more "when the lights go out" (whatever that means) in the sense that one can use it for kindling. Totally agree that BTC is not a good currency in a post apocalyptic hellscape where there's no electricity. Really doubt that's where we're headed.
I agree Digital books? Too easy to modify.
Digital movies? Too easy to modify.
Digital money? FREEEEEEDOM.
This is because digital books are not cryptographic secured and hashed to prove it's the original, they're stored on centralized servers (amazon e-books). Same goes for movies (netflix, hulu etc).
Torrents is slightly different as it's decentralized and hashed by default, this is why you can find unedited original content at thepiratebay for instance. Same goes for cryptocurrency, not to be confused with digital fiat, which runs on centralized servers with no transparency.
But is that the way it works? Bitcoin lost all its records, or were hacked at one point and had to start over.
I understand we are told its totally decentralized but there is no way that can be secure. Maybe thats just me but I do not see how anything can be secure that way. Viruses and hacks from hackers and governments are crazy on torrent. The blacklist on my firewall was huge, and I had to trust someone to generate it.
Maybe its just my paranoia. But all I see is a wild pig trap, if your familiar with that analogy.
Apologize for the formatting of my first comment. Ill fix it. Thanks for deciphering it and offering a well thought out response.