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The Real Threat to CryptoCurrencies


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You can’t tax what is banned. Once governments have found a way to properly tax crypto, I believe they’ll embrace it. 

Regulatory is a huge threat, but there's a greater monster lurking in the shadows. The biggest single threat to ALL digital currencies based on cryptography alone is that they are provably and forever

Governments around the world need to balance debts issued in trillions amounts yet our current fiat economy does not have that kind of productivity. Merging crypto economy into our daily life is proba

They couldn't stop the Internet and the democratization of information flow. They won't be able to stop the democratization of value flows.

It's dinosaurs trying to protect their honey pots. Over time, as a consequence, more balanced regulatory systems have to evolve. The U.S. only is a superpower in terms of military and maybe global cultural might. Not in so many other fields that matter.

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Sure governments are a threat to cryptocurrencies because cryptocurrencies are a threat to the government. If you consider the power wielded by a nation upon its citizens by the control of money then the one of the greatest threats of that control is the inability to control the money and flow of it. Very few people, myself included have the capability to transfer money from where I live to another country without using someone who charges a fee to do so. Crypto is a threat to those that control the flow of money. For example I recently purchased a sawmill made in china, it was about $3,000 less than what I could get in the U.S. even when the mill from the U.S. was constructed in china. Now upon paying for there was a fee of around 6% which came out to about $200 now if I could transfer xrp to an account they have I just could just cut out someones $200 profit. Take that $200 and multiply by thousands of transactions and someone in charge stands to loose millions and millions of dollars in fees. 

Long story short whether or not it is government control and influence through money or a company making billions a year by transferring that money then yes cryptocurrencies are  threat to the powerful. However, I agree with panmores neither the government, banks, clearing houses, nor money transfer companies like western union are solving the problem and therefore all they can do fight it and in the end they will loose. 

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Can you help  me to understand this processes, what will be a result?  If governments everywhere launch digital currency as US and China are already developing can it provoke a crush of cryptocurrency market collapse in general? 

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3 hours ago, LucasWilson said:

Can you help  me to understand this processes, what will be a result?  If governments everywhere launch digital currency as US and China are already developing can it provoke a crush of cryptocurrency market collapse in general? 

Governments are launching stablecoins, which is basically a digital representation of existing fiat money and a small part of the total crypto market.

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25 minutes ago, Danny said:

You can’t tax what is banned. Once governments have found a way to properly tax crypto, I believe they’ll embrace it. 

Governments around the world need to balance debts issued in trillions amounts yet our current fiat economy does not have that kind of productivity. Merging crypto economy into our daily life is probably the only way to grow the system bigger and gain one, two or three zeroes more in GDP. Why would they stop this process? I agree with @Danny, they will find a way to love that tax revenues...

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Regulatory is a huge threat, but there's a greater monster lurking in the shadows. The biggest single threat to ALL digital currencies based on cryptography alone is that they are provably and forever vulnerable to greater computational adversarial attack, by cryptanalysis and cracking, because their entire defence system hinges only upon algorithmic complexity. That is not and never will be good enough to handle the world's money and all its derivatives etc. The US Navy and Intelligence agencies won't even use such schemes for sensitive messaging, let hiding alone nuclear codes, etc! 

The world's wealth sitting on ANY cryptographic ledger is like having 100,000 nuclear bombs publicly accessible and resting upon a few instantly-known and outdated algorithms and all you can do is keep updating them HOPING someone isn't two steps ahead. "Hasn't been hacked yet" and "expensive to hack" isn't good enough. We need a new paradigm based on quantum randomness (post-Vernam) ciphers. Those selling cryptographic solutions will never admit to this fully because their purpose or livelihood depends upon pushing them. 

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57 minutes ago, thinlyspread said:

The biggest single threat to ALL digital currencies based on cryptography alone is that they are provably and forever vulnerable to greater computational adversarial attack, by cryptanalysis and cracking, because their entire defence system hinges only upon algorithmic complexity.

I don't think there's anything to be worried about here.  To be sure, this is an issue to keep an eye on.. However, this not only affects cryptocurrencies. Private/Public key infrastructure is the underlying tech for anything that requires privacy and security (https, ssl etc used in online banking, secure communications etc..). I expect that solutions will materialize long before it is possible to compromise those use cases..

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3 hours ago, richxrp said:

I don't think there's anything to be worried about here.  To be sure, this is an issue to keep an eye on.. However, this not only affects cryptocurrencies. Private/Public key infrastructure is the underlying tech for anything that requires privacy and security (https, ssl etc used in online banking, secure communications etc..). I expect that solutions will materialize long before it is possible to compromise those use cases..

Possibly, but I don't think you want to risk a country's wealth on that gamble, let alone the wealth of all nations. It ups the stakes massively from, say, compromising a few secret messages or something. Also, the tech is available, but as yet largely unexplored or implemented. 

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New Nanotech Quantum Optical Living Biotech machines, which are now being injected into all of us under the guise of a vaccine, can scan the brainwaves of all humans rendering all cyphers pointless, governments have been using them for years to watch and record are every thought, controlling us will come next, just as soon as the big XRP switch on is made, but I do have tin foil hats for sale if you want protection :)

 

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