RE: Bitcoin ?
November 30, 2017 at 2:11 pm
(This post was last modified: November 30, 2017 at 2:15 pm by Brian37.)
(November 30, 2017 at 3:03 am)Aoi Magi Wrote:(November 29, 2017 at 5:29 pm)Brian37 Wrote: Yea and that is the rub considering hacking worldwide. While physical paper and coin are tracked by banks, they have far more stability. And you have paperwork and bank insurance too. While online technology has helped, just like your physical house, you cant live in a virtual house. At some point representation still gets physical.
I don't trust it, seems like virtual gambling, and from what I see from Wall Street outside this idea, right now, I think it is playing with fire.
I didn't mean stabilize in that sense. Compared to bank tracked currency, cryptocurrency is already better because the ledger is not maintained by one single bank but by every concerned node in the network. A house and money are different things, money has always been a virtual value assigned to random objects, and I'd much prefer that valuation process be fully transparent.
I don't see it that way. I think because it is so interconnected it makes it easier to hack. Money is an arbitrary number but the labor and objects they represent are physical and that will never change. If you have physical paper and coin in a vault that is something you cant turn into 0s and 1s. You can hack the representation though. Like I said, you will never live in a virtual house, but you can forge a mortgage with someone else's identity, but the physical house remains.
0's and 1's are all programming are. And just like breaking into a house, computer programs can be hacked.