I’m a big believer in blockchain. Cardano is the coin that I personally like the best.
The recent explosion in crypto gains is 100% attributed to mass worldwide chaos. I think as long as the pandemic rages and governments continue to print money, crypto will continue on its crazy path.
What scares me about crypto, is the prospect of governments making it illegal in order to protect their own financial systems. I don’t think it’s a matter of if, but when.
When that happens crypto will make tulips look like gold.
Blockchain is the clearly the future though. And that great technology is what societies will enjoy in crypto’s wake.
I’m not sure you fully understand how public blockchains work. To steal his crypto you’d have to steal his private key and the password that decrypts it. Or rent enough computing power to 51% attack the blockchain and then double spend your own (but that wouldn’t be his crypto). If you keep your crypto on an exchange, then yeah it’s liable to be “hacked” and not insured (though Coinbase does insure it’s holdings supposedly). That’s why they say “not your keys, not your crypto”. Tech like ledger wallets work well for this purpose.
I’m fully aware of how blockchains work… I’m a Devops / IT Administrator for the past 20+ years… I was just joking with Drunkwooky… but I do know where he hides his private key… but I’m not telling, It’s all mine!!! His crypto will be all MINEEEE!!!
I’m just too fearful that we’ll have an outright ban or extreme amount of taxes to help fund regulation or fight terrorism. There are politicians that believe bitcoin is used to fund terrible things.
As that’s likely true in a sense (and likely happening), if they ban crypto, they’ll just find something else to use for trade that’s in demand that now has “value”.
Agreed. I think most people with critical thinking abilities understand that banning crypto wouldn’t change a thing about illicit behaviors. Also the decentralized nature makes a “ban” difficult to enforce. The fiat on/off ramps would be unusable though.
Oh yeah I don’t think the government should rule with anything other than a light touch. Complex systems full of decision-making agents (like the US) need to have room to produce emergent properties. It’s all about the right set of minimal guardrails. Enough to get that big money comfortable.
