“ They really aren’t. A currency is only worth anything if normal people are willing to trade them en masse. For the majority/normal people to trade them en Maße there needs to be an universally agreed upon use for them. A use that taxes give, since no matter who you are, you must pay your taxes in the state issued currency.
Crypto and other alt currency tokens are worthless by definition”
https://reddit.com/r/technology/s/TTK0bCHDDN
Don’t necessarily agree with it, but I get why someone would have that take.
Interesting, did not even know that it was close to be tried in bitcoin, Should not the test be able to be replicated in theory (I know live fire exercise is the best stress test) with a branch spinoff in a much smaller environment?
I don't know, you'd have to ask a cryptography expert about that definitely. It's a fucking shame, because when it came to the autists who actually knew about Bitcoin the 51% attack theory was one of the few ways that Bitcoin could potentially be manipulated. Of course, have a conversation with the average person on the internet and they won't even know any of this, hell you can see it already happening on this thread. It's obvious there are tons of people out there who like to talk about the blockchain but have done zero real research into how it all works.
https://www.investopedia.com/terms/1/51-attack.asp
Part of why people don’t know because between raising kids, work and all that stuff, it takes a lot of time to be properly informed, and I know the above link doesn’t fully inform, so I’m curious as to what about a 51% attack I’m missing that this link doesn’t explain, as I feel like it just doesn’t fully go over everything.
That investopedia link you've provided does a very good job of explaining the 51% attack concept actually considering it's more of a summary. It's just there's so much detail missing and you rightly point out that a normie especially isn't going to have to take the time to research it all.
What gets me is you have people like this who the decide they're going to simply make up FUD ( Fear Uncertainty Doubt ) and then attempt to start shit with you just for disagreeing with them. I'm a lot pickier about who I will spend my time on and when I see people posting the absolute crap I see on this thread about Bitcoin I know just by looking at them they couldn't even explain how a Bitcoin transaction is actually processed. It's just not fucking worth it. It's not just the fact that they get so many basic concepts of cryptocurrency wrong they obviously don't understand currency itself and have zero knowledge on how it's created and maintains value. It's not surprise then that they just make shit up about cryptocurrencies to compensate for their lack of knowledge.
Even I don't know that much about the blockchain and cryptocurrency, just more than the average person. You'd have to go and talk to a proper expert in cryptography to really get into the detail. The encryption behind blockchain technology is incredibly advanced it doesn't 'appear out of thin air' which is the most tech illiterate interpretation of the currency I've ever seen. The people shitting on Bitcoin have done that thing of reading some wikipedia and news articles and think they know everything.