Shhh stop suggesting what BTC was always about
(media.scored.co)
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I was against BTC thinking it's a scam and then coping that it's not "real money" until last year when I finally took the L and bought in. Why would I have to explain how the encryption works (btw I have an idea because I was a web developer and handled streams that are encrypted that way)? I guess you're alluding that some entity behind the technology may have the key to decrypt the transaction hash? There are no 100% guarantees in cryptography and any system has vulnerabilities.
As I said, unless you have evidence BTC (not CBDC or some shitcoin that uses the blockchain technology) is used by tptb for nefarious purposes like tracking and tracing every transaction and destroying anonymity through digital id there's nothing more to talk about. Right now I can own, buy and sell BTC in full anonymity just like with cash.
It is absolutely relevant that the NSA released SHA256 and would not do so without being able to break it, but more than that, if you think so highly of the technology you should be able to explain how it works and why it succeeds in the ways you claim it succeeds. You don't buy and sell cash, you are buying and selling bitcoin because it's being used as a speculative asset and not a currency. Also you claim full anonymity but it's not fully anonymous, because everything is tied to a wallet and I'd be surprised if there's no way for a motivated person to trace your wallet to you (how are you paying for this Bitcoin, for instance?). I hope you do something good with the money you earn, but a technology that only works by permanently tracking and tracing everything, released with a very unlikely origin story that's been talked about all the time in media for over a decade is not likely to be a threat to the system.
Dude, I've been barking at BTC for 10 years, I know all the talking points and criticisms.
Guess where all the technology you're using, including the internet and modern cryptography comes from? Ultimately, you're always putting your trust in the system that creates and maintains the technology. It's inevitable unless you build and maintain it yourself.
Yes, BTC is mostly used as a store of value like gold. And just like gold, you can tether currency to facilitate transactions of said value.
Depends on how serious you are on staying anonymous. There is a way to open a wallet that's not tied in any way to your ID. But even if I grant some hacker still can trace you that applies to any transaction you make, including cash.
It's either BTC which is a decentralized blockchain money with limited supply or Fed ran CBDC programable social credit monopoly money. That's the future and it shouldn't be a tough choice. If you have an alternative I'll hear it out.
Yes we are all using a compromised system, but people act like bitcoin is untouchable when it's easily seizable. You can open a wallet not tied to your ID but unless you're mining which is increasingly unviable for an individual then you're not anonymous, unless you figure out some anonymous way to buy your Bitcoin as the transfers from wallet to wallet will live forever. Right now Bitcoin is a speculative asset, in the future it may be a store of value but people are piling in in hopes of it going to the moon. No one is seriously using it as currency because it is too volatile.
At the end you present a false dichotomy as if there are no other choices. There are already crypto that are more privacy focused and less network intensive than Bitcoin. We could also attempt to avoid a world digital currency altogether, though that's unlikely to happen because tptb love their control
A transfer from one anonymous wallet to another is anonymous regardless of it staying on the ledger forever. BTC is not any more speculative than other assets like gold or the dollar which are entirely controlled by the central bankers and that's not just speculation like in the case with BTC. Its value is the technology itself and it being the biggest p2p network in existence. There are already countries that recognize BTC like El Salvador. Volatility will come down with time but it's going to the moon. It already achieved the 100k milestone that critics thought was impossible because the bubble would burst "any time now".
I already acknowledged BTC is not the best currency-wise because it's a store of value like gold. There's a reason people don't trade using gold ingots and coins anymore. More practical cryptos can be tethered to BTC. If it's a false dichotomy you should be able to present the alternatives that have all the strengths and less weaknesses than BTC. Currently BTC is a safeguard against government overreach and I'd rather have money there than in my bank account. If that changes and BTC turns becomes a tool of the technocratic elite, I'll admit I was wrong.
We're not going back to the good ol' pirate days even though I'd like that because I love gold and stack it - the future is digital whether we like it or not. I don't even use a smartphone, I plan to live in the country and I'm against digital payment but reality is reality.