Comments by "" (@retagainez) on "Is Bitcoin Blockchain the Future?" video.

  1. It is harder to manipulate due to its scarcity and non-centralized structure. Just as gold and silver are scarce, that's where we see the value. Crypto is simply more liquid because of its speed. The usefulness isn't much of a concern, the guest speaker on the show demonstrates that with his NGO. The main goal is for more people to adopt it, but this is a significant challenge since some countries (like the U.S.) rely upon its FIAT currency. There is a significant downside to owning something physically tangible that is as heavy as gold and silver. One of those reasons being it is very hard to physically move and is a waste of energy just for the sake of a transaction.
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  2. As far as solutions go, there are already encryption algorithms to slow down decryption with how much mathematical power there is behind quantum computing. I do wonder what kind of impact encryption will have on everyday life. The complexity of new algorithms can slow down some things as far as I know.
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  3. I'm not prepared to debate this, mostly since I don't know enough. An article from SeekingAlpha shows why the physical aspect of precious metals is a downside; from the perspective that gold is a currency. Can widespread adoption of BTC be done without causing negative side effects? Or at least mitigate most of the negative side effects? I think these are the most important questions for BTC rather than questioning the practicality of an electronic system (something that the U.S. primarily uses). Gold is a commodity, not a currency. The comparisons should be different. Not to mention the counterfeit issues that come with gold and the historical lessons we've been taught with metal currencies being phased out and replaced by FIAT currencies time and time again.
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  4.  @inhocsignovinces1419  Fair point. I'm not sure if crypto is ready to be a nation's currency. Maybe it can, but there are probably many issues that we would see if that happened all of a sudden. It would have to slowly be phased in more likely.
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