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RE: Quadrillion Dollars of Debt to Send the World into Economic Oblivion
Crypto only needs to survive while this current finacial system collapse on its own weight.
Crypto only needs to survive while this current finacial system collapse on its own weight.
No. It needs to be immune from seizure, as well as able to be useful.
Those are both different than mere continuation of existence, and neither is considered much.
If Citi says you need to pay them and you have crypto, how can you prevent them from taking it? If you think your keys are secret, you're going to learn what the Intel Management Engine and other similar factory backdoors are when that happens.
Also, I can think of plenty of ways that crypto can just be rendered useless. You can only spend it across a network, and it is obvious that every aspect of the internet is being censored. In the UK, where today you have to show ID to buy a spoon, they've passed legislation that requires ID to access certain content.
Give that thought. That can happen literally overnight, to any form of content, in any jurisdiction. Crypto will be of little use when it can only be transferred via pony express.
As far as i know blockchain transactions are very secured, you can't hack that. Quantum computing may be the treat for the future. Of course if a government point a gun to a person to force him give his private key to seize the coins.
Users must own his keys and handle it carefully and also not trusting big amount on centralize exhanges.
I think crypto and blockchain technology as of now, still secure, trustworthy and a very effective way of transacting.
The IME (Intel Management Engine) is an onchip direct hardware backdoor built in. It bypasses the boot process, encryption, and can freely access RAM, HD, etc.
If there's some kind of financial crisis of the proportion you mention, unless you made your chipset in your computer, you don't own your keys.
This would be tough for non tech like me, but this is a serious stuff, thanks for the info.