• Tiresia@slrpnk.net
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    1 month ago

    If you’re issuing challenges, then I have a challenge for you: How do you defeat the $5 wrench? I have given the answer, but can you comprehend it?

    “the government”? Of what?? Every single country at the same time?)

    Of the person reading this sentence, obviously. In my case EU lawmakers are making moves to restrict encryption which would make Bitcoin non-secure.

    Finally, my challenge which still has not been met, is to explain how Bitcoin works and then why it will fail. Care to try to be the first?

    Bitcoin is a currency divided among wallets as described in the blockchain. The blockchain is a ledger file synchronized across all users. Bitcoin can fail when synchonization is lost, such as in the scenario I described where ISPs only allow encryption if it is authorized by specific organisations. Bitcoin can be sabotaged by hacking the software you use to transfer it. And bitcoin can be useless when people ostracize you the moment you mention having it.

    Explain why countries who experience hyperinflation see massive inflows into Bitcoin? What’s going on there in your mind? Mass psychosis?

    Because in those cases bitcoin is more stable, being supported by the global bitcoin economy which in turn is supported by liberal capitalism. I intend to destroy the latter and boycott the former.