RE: Bits and Pieces - Decentralized Technology is Key
Very interesting and thought-provoking article. The crushing of the ability of central banksters to LITERALLY run the economies and lives of all the nations of the developed world is, to me, the paramount advantage of distributed ("anonymous") blockchain technology.
Cryptocurrency is as big a revolution in the way the world works as free (or extremely cheap) energy technologies would have been, had not TPTB killed these inventors and stole (and burned, or hid) those patents. Maybe moreso even, because the total wealth (and wealth-making practices) of the world is potentially in play with these emerging "peoples' currencies," whereas it is possible to imagine sectors of economies that are not energy-dependent.
The one thing that dampens my enthusiasm is the term "unhackable." I don't believe ANYTHING, in the very end, is totally unhackable. What we in the cryptocurrency revolution must hope for (and hopefully bring about) are security successes/systems that allow the wealth to be more equitably/meritoriously distributed from the elites to the world, before they can enact their hegemony. In other words, are our programmers better/smarter/more innovative, than their hackers, or v.v.?
That will determine the future of the planet.
Great comment. Thanks. The Bitcoin code is not the secure part, it is that someone would have to persuade a couple thousand miners to change over and adopt a code with fallibilities within. The distributed and of this ledger is like taking a bank inside out spreading the fragments everywhere in the world. But, each fragment would contain every transaction that bank had every made (and all copies have to match). That is the genius of the distributed ledger.
Another example would be if someone wanted to edit one of Shakespeare's works. Because they exist in many personal libraries and public ones. Then there are private homes that have them anonymously. How would a hacker get into every home and library and flawlessly edit all copies? This is what I mean by unhackable. Not impossible but highly unlikely. Pleasant day!
I didn't use the Bl....word because that is not the heart of the security!
A couple thousand is all they'd have to round up? Hmmm...
Very informative reply. Thanks!