nanarchy on 05 August 2017
| SickleSigh said: The brilliance of Bitcoin is the lack of a Federal Reserve staffed by shysters that lend currency to a govt. with debt. Easy to see how all money is meaningless beyond the value society shares. A delusion we all willingly go along with, but when it becomes arbitrary with inflation or deflation that delusion can't persist. Post WW1 Weimar Germany would pay employees at start of day and let them shop, as bread would be 5x more expensive at end of day. People used currency as wall paper. The public ledger available for all to see and unable to be manipulated creates a free market currency that bankers don't control. No wonder China is trying so hard to kill it. |
except of course 80% of hashing power is currently controlled in Chinese hands and hence at risk of manipulation should they choose to do so. The myth that Bitcoin is somehow immune to manipulation is riduculous, it is actually far easier and cheaper for them to manipulate bitcoin than it is a currency at the moment, The current fights over Bitcoin cash split highlight this issue.
