How Bitcoin and all it's clones will Die - When is anybody guess - I bet the process has already begun - Lets at least talk about it
How will Bitcoin die? By mapping, all Public/Private keys and you don't have to do them all to start the demise, Just enough to prove a point. that at least a few can be taken and the domino's start to fall...
I can promise you that they are mapping all Public/Private keys as we speak which also covers all Bitcoin Clones
When the shoe drops it will be when they decide. Maybe after Millions feel safe and spend their money in investing in crypto while the owners of all fiat take it back to the lair.
So it might take a while, but will happen some day.
Do you think they have not invested in huge mining farms for BTC and more Larger Farms to map all addresses as well? They create money out of thin air remember! there is no option not open to them.
So you tell me...Are they going to let Us get away with this? Not while they still have a breath left in them.
We need to be less smug about this and take it to the next level.
No they can not stop us from trading in crypto, But they can control any market they want along with any government they want. I have been upset since I knew BTC mining farms existed and the fees got stupid.
All I see is centralization here. And while we all sit back and count our profits and they roll back all the fiat, What do we care? Life is Good....Everyone accepts Bitcoin right, Just look at all the fools who never bought in...starving in the streets. Without anything to trade for basic needs anymore.
We are not done yet My friends, but we need to diversify like crazy using different cryptography with way stronger and longer numbers, letters & symbols to ridiculous extremes.
Why did all alt coins use the same cryptography? Talk about stupid! Why not throw some symbols into the mix or make it 10x harder to crack? 100x would be better.
Having a sack of cash means nothing when the hammer drops and your currency of choice is destroyed.
At that point they will just let us perrish for lack of anything unless we can make it or grow it ourselves.
Very few will survive.
This is not meant to be a negative post. But rather a Call to Action and create a coin that will serve everyone with unbreakable cryptogaphy and hard for any 1 person to mine more than their far share some how with next to no fee's forever.
BTC is Grandpa, But someday inevitably will die, Just like fiat currencies. So lets keep this topic going folks... greatly expanding the cryptography is nothing, Working on solving the decentralization will come along some day. As Well as treating everyone equal in their share of the pie. ( greedy people need not apply ).
Nuff said for now, Thanks for reading...
Thanks for sharing a comprehensive stuff
your welcome I just did a follow up to explain in my simple way why I came to these conclusions.
Enjoy
How exactly do you propose that someone "maps public/private keys?"
https://steemit.com/bitcoin/@codypanama/i-own-a-billion-bitcoin-adrresses-just-part-time-on-a-old-laptop-and-no-programing-skills-just-testing-the-waters-and-being
yes you are right my friend. At least cryptocurrency gave us an IDEA of hope. It probablywill be brought with some quantum cryptocurrency.
I'm just surprised that all alts use the same algo, A private key for 1 works on all others ?
Yes I'm just a idiot and many people are soon to call me that.
I'm ok with it, just not ok with my Grandson being a slave to whatever is offered by governments in a few decades. I'll be long gone by then, and already can live with no money, So maybe I can teach him that ?
Here is a Follow up for your pleasure.
Only the strongest coin will survive. Even if just shady people and countries support it, crypto will exist.
oh it's here to stay, but most alts are just BTC clones. Every wallet was supposed to be a bank branch with equal opportunity to share in coin production and monitoring with almost no fees. Mining farms have to be eliminated some how or it's just another rich mans currency. See how a few big farms can just do as they please now. Sucks....whats next? I'm all in on steem for now, even though it has its issues too, But steem power can't be stolen very easy unless the owner is asleep for weeks LOL
Cheers
a very thought provoking post... I shall be getting a bit less sleep tonight for having read it...
Sorry about that, I was having a moment LOL
It is a concern for the future though, almost all alts using the exact same key system. you wouldn't put a 4 digit code on a bank vault would you.
And it is suggested you don't transact with same account twice, to move the unspent funds to a new address because you give up some vital info when sending to prove you are the owner.
Sleep sound for now my dear :-)
Yea! Same boat as my thinking :)