I hold both and I really hope Safe will win and take it all in the end.
Hey friend, I also like Bitcoin!
Every crypto is working even shitcoins like ripple and I’m sure Bitcoin will continue to work… Rich people will not disappear and will continue to use Bitcoin. But I also wish we had a network in which the whole world is involved.
I just hope that the economics of madisafe will work the same way as its superb technology. You may have a winning technology but if the economics of it doesn’t make sense or is flawed then it won’t succeed
I personally think the economics of Bitcoin are flawed. This is essentially true of most blockchain based endeavors. It is like a technological Ponzi scheme. In the case of BTC ever increasing resources must be spent to validate transactions that only have value because of the effort required to validate the transactions. That can’t end well. In the short-term it works; it just doesn’t seem sustainable, especially when something better comes along.
The 1st has passed and the only Wright in the news was Peter ´Snakebite´, the new World champion Darts ($630,000 richer).
Only a few ever expected him to get the keys back. I’m sure Craig will keep people hooked with another BS story about this or that. All the while he has his super computer (in top 20) trying to crack the keys. Been doing it for a few years now
How is what you describe different from gold?
It’s somewhat similar to gold, but I think there are a couple important differences…
Gold is one of only a few elements that are ideally suitable as a store of value. Silver, platinum and palladium also serve this function to a degree. It is durable and does not rely on any infrastructure to exist. Transferring it, storing it, etc. is relatively cheap and easy. In large quantities these costs can become significant, but still generally small relative to the value of the gold itself. BTC on the other hand requires significant infrastructure and resources to exist. While all things in the world only have whatever value we place on them, BTC and its like are perhaps unique in that they have no intrinsic value at all. They do provide currency utility provided you don’t mind the fact that there is a public ledger of all transactions, and that this ledger will be ever-growing over time taking up space.
But the big shortcoming in blockchain to me is the fact that there is infinite potential competition. At this point gold has no competition from other elements or materials. Bitcoin is really just an idea. And competing ideas with less internal friction and loss, and more value and utility will likely unseat it. Being first is only worth so much. I look at all the alt-coins and have to laugh. Everyone wants to be like a central bank and get in on the early un-inflated value of their pet currency. Who would have thought doge coin would be a success? At least ETH adds some smart contract capability.
But the killer will be when a new technology, like Safe, comes along. Gone will be the technological arms race to do meaningless calculations to provide a 10-minute delay. The network itself, as well as the data on it, the security and privacy, and all the many things that can be done with it become the “backing” of SAFE. To me this seems like a blockchain killer.
Let’s state this clearly here with a timestamp.
Craig Wright did not invent the SAFENetwork or SAFECoin.
Its the end of Monday of the first full week of the new year and has anyone heard of Craig getting his keys.
If not then I’d say that it is a 100% proof of a scam by Craig. Bet he is laying china eggs while waiting for his super duper computer to spit out the brute force hack of the btc keys so he can start laying golden eggs before the halving.
are there even computers that can realistically crack a bitcoin address in a reasonable amount of time?
Check gold price. +$100 per ounce in last 2 weeks. It is going crazy
I just went all in into BTC with all my FIAT on all exchanges;)
NASDAQ had a great 2019 though - 40%+ gains. The last 6 months or so, it massively outperformed crypto.
Nope, not even quantum computers provided that no transactions have been made from the address.
Except that early blocks all used pay to public key (p2pk) which are vulnerable to quantum computing, and this includes Satoshi’s public keys.
Publishing (SAFEcoin) has more value than gold imho…
More so because you don’t need third parties (to verify if it’s gold, to act retarded and ban your gold) DGX is fun, but still…
For me, SafeCoin, BTC, gold is in the same category, “Good money” category. Fiat is in category “Bad money”. So what I do, I spread my money among various types of good money. Gold is here to stay for 100% during my lifetime. BTC is too young to predict the future and safecoin does not exist yet. Gold is IMHO the best place where to store an important part of portfolio. Than BTC, than the rest.
There are machines that verify purity of gold bar in a second. Even if it is packed in a foil, just by analysing electric current. Such gold bars are easy to sell for cash anonymously. And investment physical gold is in many countries tradable without VAT and without income taxes. Trading crypto is tax hell for me, but physical investment gold has no taxes at all. I can’t convert crypto to fiat anonymously, but I can do that officially with gold.