Cryptocurrency: It isnt encrypted and it isnt a currency.

Twetch ·

Cryptocurrency: It isnt encrypted and it isnt a currency.

Replies

Twetch ·

dave_thompson_085 writes on EC(DSA), which is used in Bitcoin:

Twetch ·

Paper money was said to 'remain current', ie. remain fungible when accepted honestly.

Paper money is a tiny part of the money supply. A tiny part of our money supply is fungible. Bitcoin is only fungible in france, and only in some cases.

-jp_koning

Twetch ·

https://www.cnet.com/news/when-you-have-64-million-in-bitcoin-but-no-password/

You describe a legal issue, but practically, crypto comes as close to humanly possibly to tying the de facto powers of ownership with possession.

Twetch ·

And as for the records of all transactions being public, that's a deliberate choice, and it's the reason Monero was invented, to provide a case where transactions are NOT publicly visible.

Twetch ·

And as for the records of all transactions being public, that's a deliberate choice, and it's the reason Monero was invented, to provide a case where transactions are NOT publicly visible.

Twetch ·

A consequence of encrypting the blockchain is that it is impossible to know if the supply is being inflated through an exploit.

Twetch ·

Cryptocurrency: An musical chairs ponzi exchange to exchange unencrypted non-currency Data management system.