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RE: Bitcoin is hacked but blockchain is not

in #dtube6 years ago

So, first I don't think very many anarchists into Bitcoin think it's anonymous. That's a fairly old misconception that I don't think any smart people in the space still believe. You keep going on and on about this, but really, who thinks Bitcoin is anonymous?

Second, why does it matter who created Bitcoin? The code is open source. If there’s a problem with it, point it out.

Third, you say people have to exchange BTC into cash. Why is that?

Fourth, Satoshi Nakamoto was always an open pseudonym, so it's no big surprise that we don't know who he/she/they are. It's actually an advantage for Bitcoin because there is no figurehead that can be arrested causing a panic sell.

Fifth, I don't think you understand the technology at all. Satoshi Nakamoto invented the Blockchain, and Bitcoin was the first implementation of it. pretty much every other blockchain started with the original code, so if there's a problem with Satoshi's code, they are all bad.

Sixth, these businesses are taking Bitcoin because it's popular. Implying they are doing it for some nefarious reason without any proof is just fear mongering.

Your entire story about Gaddafi and Hussein just proves that Satoshi was wise in remaining anonymous. Governments aren’t going to be able to track down every Bitcoin user and throw them in jail. There’s just too many of them already. Even if governments decide to go after Bitcoin, people will just move their money into another coin so what would be the point? They’re not going to run back into government fiat because that will expose them.

Also, you said Bitcoin is backed by the dollar. How is that? It’s more backed by Chinese government electricity subsidies.

Finally, if Bitcoin is government controlled, which government? It’s the fiat that is controlled, and changing into fiat is the problem. If governments continue to push the issue people will stop converting back into fiat and transact in crypto only. The fact that the governments are passing laws to limit crypto use is pretty strong evidence that they aren’t controlling it. If they were they could just shut it down whenever they want.

Living in fear of “they” is no way to live. You should study the fundamentals of the tech a little more.

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woooooo ! @garthfreeman , You are so straight forward bud! you just nailed it with so many proofs. I agree with entire comment but the most I agree with is , It's an advantage for bitcoin that no body is known for it's creation and no body will go behind the bars...

Nice talk man

I was going to reply with something.. then i read your comment. You summed it up nicely. The misconceptions about what bitcoin is will be going on for a long while yet!

Thank you for calling out his misinformation. It's sad that it even needed to be done.

I liked the internet before the masses could easily share their low effort thoughts at every instant. Hopefully people get better at seeing through the BS.

i don't really think bit coin is hacked although its a good topic/tag , i would even say that its gaining more recognition than when it came out before man.

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