(06-27-2023, 07:33 PM)Ninurta Wrote: I understand cryptography, and use it daily to keep Grandma's Secret Cookie Recipe secure.. but this "blockchain" business is mystifying. It does not seem possible for it to be both "freely accessible" AND "secure" both at the same time, and no one has so far been able to explain to me how that could possibly be.
Furthermore, it's known that governments can utterly and completely control CBDC's, and issue them or disappear them at will. I don't see what could possibly prevent them from dabbling in any digital currency created. I mean, if it's "freely accessible", that means governments can access it too, right?
On top of that, "currency" made up entirely of bits and bytes, just electrons in the machine, seem utterly insecure to me - what happens if the lights go out? You can't just open your safe when the number dial suddenly disappears!
So I don't, EVER, deal in digital currencies. It seems to be a good way to watch all of your hard-earned money just go POOF! and disappear. If I don't deal in digital currencies, then I have no need of services that claim to securely shuffle them about between traders. If I have a bag of apples you want, and you have a set of horse shoes I want, we'll just deal face to face and in person, apples and horse shoes in hand - not need for any ethereal intermediary of exchange like "digital currency" in my mind.
If I want to buy something solid, I want it in-hand where can check the weight of it.
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Thanks Ninurta , after reading your comment about this new toy , it does sound something too risky and even too complicated .
One risk could be massive coronal mass ejection or war where EMP would be used , causing problems to electrcity / electronics.