Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: rednesss
Re: "you don't know how blockchains work"

Your comment was not directed at me, but I do want to respond.

I have been following crypto and Blockchain for the last five years.

I still have no idea what is unique about Blockchain.

In my opinion, any financial trading software in the world can do exactly what Blockchain does...

Just lock the trading software on "Write Once - Read Only."

Then, archive it, in real time, on a public website.

Presto - you are now a Master of Blockchain!

My chief concern is that 20% to 35% of Bitcoins have been allegedly lost in the Blockchain.

What happens to the price of Bitcoin when quantum computers start locating all the lost Bitcoins in 10 or 15 years?

27 posted on 02/13/2024 8:02:56 AM PST by zeestephen (Trump "Lost" By 43,000 Votes - Spread Across Three States - GA, WI, AZ)
[ Post Reply | Private Reply | To 19 | View Replies ]


To: zeestephen
What happens to the price of Bitcoin when quantum computers start locating all the lost Bitcoins in 10 or 15 years?

Quantum computers aren’t real. You might as well worry about cyborg overlords or Death Stars.

28 posted on 02/13/2024 11:45:46 AM PST by GunRunner
[ Post Reply | Private Reply | To 27 | View Replies ]

To: zeestephen

The real equation is energy. Gold in the ground is worth NOTHING if it takes too much energy to extract. At a certain value the cost is worth the dig. And there is a lot more gold in the world underground.

Bitcoin IS energy, proof of work, energy expended, computational power, in a proportional and constantly varying hash rate that adjusts to the market. It is perfect money in that it is totally mobile, totally decentralized, totally uncontrollable by any government, and stores value in spite of, and because of all the above. And it has an absolute finite quantity. It is in no way a “tulip” in any way regarding the historical reference, by any measure or characteristic compared to BTC.

All free market transactions will gravitate to BTC at some point. As much wiser people in the world have said, it will either go to a million or zero.


29 posted on 02/13/2024 6:36:33 PM PST by Wildbill22 (They have us surrounded again, the poor bastards- Gen Creighton William Abrams)
[ Post Reply | Private Reply | To 27 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson