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

To: delta7
I do know it does not facilitate anonymous transactions, is dependent on the grid, and most definitely vulnerable to a host of elements, especially hacking as our supercomputers can “ crack the code” with the help of AI.

1. Bitcoin provides anonymity so long as a link between your public keys and your real-world identity is not established. By contrast all electronic fiat transactions (which is about 95% of all fiat transactions) are tracked and recorded by central authorities (banks, credit card agencies and governments, etc.). Moreover, fully anonymous cryptocurrencies like monero provide heightened anonymity for those who seek it.

2. "most definitely vulnerable to a host of elements" - such as? The greatest vulnerability are the centralized exchanges that are gateways between the old fiat world and the crypto space. Once you are in the crypto space and move your funds to your own wallet you are not exposed to the thefts/hacks that CEX's are subject to. Note that those vulnerabilities are precisely the same as banks and other traditional fiat institutions are vulnerable to. Once in the crypto space you can rely on decentralized exchanges (DEX's) that never have custody of your funds and are thus much less of a vulnerability. The fiat world has nothing to match this, even in principle.

3. " especially hacking as our supercomputers can “ crack the code” with the help of AI." This is just gibberish. The value of bitcoin would go to 0 five minutes after such a hack or even if it was a realistic fear. Instead it has gone from 0 to ~$84,000/bitcoin precisely because it is so secure.

11 posted on 03/22/2025 4:24:28 PM PDT by EnderWiggin1970
[ Post Reply | Private Reply | To 1 | View Replies ]


To: EnderWiggin1970

The value of bitcoin would go to 0 five minutes after such a hack.
——————
Never say never.


16 posted on 03/22/2025 4:32:57 PM PDT by delta7
[ Post Reply | Private Reply | To 11 | 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