Anti-Bitcoin people trying to use five dollar wrench argument
I've just seen this argument used many times now on Slashdot: "Bitcoin has failed because US government already has ability to control it, see Ross Ulbricht" I'd like to say, I don't think there is any technology for anything anywhere that prevents a five dollar wrench attack. Once the government has it out for you and uses their near infinite resources, there really is few things you can do. I believe Ross was an example of this. But I don't think anyone trading in any other currency or medium has any way to totally always remain anonymous and out of reach from government hands. Bitcoin is the only thing that even comes close to this. If the only way my store of value is hacked is with a five dollar wrench attack, I'd say that's pretty damned good currency.
Bitcoin appears to be running out of steam just before one of the most anticipated milestones among cryptocurrency enthusiasts. From a report: The largest digital token tumbled over the weekend, declining about 13% to around $8,675. It rebounded to about $8,840 as of 10 a.m. in New York trading on M... Slashdot reader volvox_voxel shares an excerpt from the latest blog post from software engineer Ken Shirriff, who is well known for his work on restoring some of the rarest computing hardware to its working condition: We've been restoring an Apollo Guidance Computer1. Now that we have the world's only working AGC, I decided to write some code for it. Trying to mine Bitcoin on this 1960s ... Slashdot Items Tagged "bitcoin" Date / Time Story; Monday August 03, 2020 @11:03AM: A 17-Year-Old's Journey: Minecraft, SIM-Swapping Bitcoin Heists, Breaching Twitter: Wednesday March 27, 2019 @10:41PM: Online-Only Currency BitCoin Reaches Dollar Parity: Monday March 21, 2016 @08:49AM: Australia Promises To Remove Tax On Bitcoin, Support FinTech Innovation : Sunday March 20, 2016 @03:03PM ... Bitcoin_exchange writes: Coinbase Pro is a genuine cryptographic cash trading stage guaranteed and worked by Coinbase, Inc.It was dispatched in the year 2015 as GDAX, Based in San Francisco, Coinbase has in excess of 20 million customers that have traded over $150bn since the exchange opened its entrances. Bitcoin surely could use some substantial changes in order to become an alternative to Visa/Mastercard/whatever but that might require a Bitcoin hard fork which the crowds behind it want the least. We now have companies with a valuation in billions of dollars who are content with Bitcoins transactions being relatively slow and expensive. The Lightning Network IMO is not the solution.