All Cryptos To Be Government Owned
Well JP Morgans Chase CEO - Jamie Dimon is at it again now backtracking his statements he made about crypto currency and now saying he was pretty much wrong. However his new line is that eventually all crypto currency will be government owned.
While yes I agree this is most likely the outcome what is happening now is a shift in power and money which is helping the 1% issue we have been faced with for a while now. I also feel that even those that become government owned (example Ripple in my opinion) there will be others that are decentralized and fight the corrupt system.
This will continue to advance as newer block chains are created and more secure methods are generated.
What pitfall does crypto currency have at the moment ?
Only one I can think of and that is if anyone ever invents a real quantum computer that ends up mining all of bitcoin.
Yeah seems like a joke right? Till you start to look at the leaps and bounds that are currently happening in this area. Imagine thinking of your brand new Intel chip as the first processor ever created. Quantum computing will blow these chips away.
If a Quantum computer did try to mine all the bitcoins im sure their would be a hard fork to change the mining process
You are the best :)
Yup, Ripple is a way to centralize power and money disgusted as a decentralized application. Eventually, all cryptos will be government owned. We can already see how wire transfers are being banned to some exchanges. Banning cryptos won't change the fact that corruption run rampant in the government around the world.
There are few Quantum computers in "production" . If they have a solution to the superposition problem - it will be the end of cryptography as we know it. Of course I think that cryptogpraphy will evolve as Quantum computers emerge.
On the Jamie Dimon part, I would like to say that he was against bitcoin, but he always said that Blockchain is here to stay.
Technology is evolving so rapidly that the block-chain is just the tip of the iceberg lol. In five years block-chain will be the least of our interests, bold statement but its about to get crazy in the tech world.
do you have anything perticular in mind ?
Bitcoin is only one coin and quantum computing isn't as close to reality as mainstream media would have us believe. Part of the FUD crypto campaign.
As for government owning all cryptocurrencies, that's laughable. There are 1,398 cryptocurrencies listed on Coinmarketcap.com today and several more issued every single day. That pace is likely to increase in 2018. No way governments will control them all, especially since they still haven't decided how to respond to crypto. And considering that a 15 year old can create a new blockchain in 15 minutes. Oh, and Jamie Dimon is a douche of phenomenal proportions.
He isn't backtracking. He's said this stuff before.
I think the post actually clarifies that "all crypto will be government owned" in the title is what Jamie Dimon believes. @bitcoinflood states he believes there will of course continue to be decentralized crypto. I agree and support that there will always be crypto the governments cannot control.
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The Government wont get my Crypto.