Sr Site Supporter
- Mar 25, 2010
Cryptos should rightly be thought of as cash in hand. Cash that can be transmitted anywhere in the world instantly for nearly zero cost and without any middle-men needed to facilitate. Cash that is very very well secured if the holder wishes to utilize the security measures that it incorporates. YES websites that deal in cryptos have been hacked many times(sometimes by the operators of the website themselves) and cryptos have been stolen, but blaming the crypto itself for being stolen is akin to blaming bars of gold for being physical. The bitcoin algorithm itself has never been hackedand the people that lost bitcoin because someone hacked a website and stole them lost their bitcoin because they trusted someone else to store their wealth. This is PRECISELY the problem I have with bitgold. If you don't hold it...you don't own it.
Yes, bit currencies do protect you from .gov in some crucial ways. They protect you from inflation, and they eliminate the necessity of dealing with banksters. Sure .gov mobsters have kidnapped individuals, put them in cages, stolen their computer equipment, and extorted passwords at gunpoint to enable the theft of cryptos, but that's because gangsters are going to behave like gangsters. Mobsters can and have stolen gold and silver utilizing the very same methods.
Crypto transactions are public record. However, the only information stored about the originator of the transaction is a string of characters known as an address, this address can only be linked to an individual if that individual links themself to it. Many privacy minded crypto enthusiasts refuse to use the same address more than once and simply discard them after every transaction.
regardless, many have been forced to give up their intel to save their hides as it were, so thru force they acquire what is needed to crack this supposed 'secret'
objective view of it, maybe
besides, what is the objective of the crypto currency? A alternative? To what?
You convert your cash/fiat dollars/pesos whatever to crypto, great! now what?
you cannot invest it, you cannot purchase basic needs, etc, it just sits there losing value until you convert it into something usable