Blockchain/ crypto

Discussion in 'Current Events' started by sgw123, Jul 19, 2019.

  1. sgw123 macrumors member

    Joined:
    Dec 16, 2008
    #1
    I did a few searches and nothing came up - probably I did the search wrong.

    I've spent the past few years ignoring the terms blockchain and cryptocurrency.

    Tonight I thought I'd read a bit - what I read about blockchain seemed quite positive. My impression was that it was democratic and a direct way to distribute money. All good so far:) Then I got onto cryptocurrency and before I had a chance to scratch the surface I came across Libra.

    And I freaked out. In the same week that Favebook get fined 5 billion dollars for perverting the course of democracy, they are launching a talking about launching a cryptocurrency that will take them out of the orbit of any government's regulation? It seems like nobody cares - is everybody asleep at the wheel?

    I have a very very minimal understanding of the issues but am very concerned. I am hoping that by starting this thread, you good folk who understand the intricacies can thrash this out and put my, and others', mind to rest, that we are not blindly handing ober the keys to this and other likeminded companies.
     
  2. TallRed macrumors member

    TallRed

    Joined:
    Feb 10, 2018
    Location:
    The Left Coast
    #2
    A guy came into work a couple of weeks ago and encouraged me to get into bitcoin. He went through this song and dance about 1 bitcoin is worth over $8K blah blah blah.

    I refused to bite. My feeling is that bitcoin exists only as a consensual hallucination and as easily as a hard drive crashing, your bitcoin could evaporate.
     
  3. Crowbot macrumors 6502

    Crowbot

    Joined:
    May 29, 2018
    Location:
    NYC
    #3
    The whole Blockchain system at the root of cryptocurrency just seems to me to be ripe for hacking.
     
  4. chown33 Moderator

    Staff Member

    Joined:
    Aug 9, 2009
    Location:
    bedlam

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3 July 19, 2019