Bitcoin the unstoppable

Bitcoin the unstoppable

By MikeZillo | Blockchain Insights | 11 May 2021


Exactly.

Bitcoin is and will be unstoppable.

After a few years of working with Bitcoin (in trading and in the Mining Farm) and all the underlying technology, I can say that I am surrounded by incompetents.

Trolls is their real name!

Most people who talk about Bitcoin are hearsay.

Some undertake to read, but without understanding, the Wikipedia page and some blogs of dubious competence.

Result.

Bitcoin will be banned by governments, Bitcoin is hackable (attack at 51%) or, and here they have part of the reason, Bitcoin pollutes.

How can governments ban Bitcoin? Do they turn off all the machines that make up the nodes? No they can not!

At best, what governments can do is tax it, regulate it or make it illegal.

Since it is already included in KYC (Know Your Customer) and AML (Anti Money Loundering) audits, it is easier for governments to regulate.

Let's remember China: at first it made it illegal ... then they changed their minds!

Not only.

The IRS, the SEC, the CFTC, or US government agencies, have already sanctioned Bitcoin as a property (as gold could be).

Should they still make it illegal, your Bitcoins present on the Wallet (preferably hardware) will never, ever be able to take them from you!

Bitcoin is hackable

Hacker

Many of these Trolls fill their mouths with "the 51% attack" ... But have they understood (I don't think) what blockchain and the validation method mean?

Perhaps these people have not understood that this technology puts the human being in front of the highest meaning of LOYALTY.

And loyalty is shown in the validation of the blockade, in the application of the problem of the Byzantine Generals.

The more the nodes are FAIR, the more secure and unassailable the blockchain is!

Not to be confused with transactions.

Transactions can be hacked, in fact with appropriate software tricks it is possible to recover private keys.

All this, however, is only possible if certain basic safety rules are NOT observed.

For example.

You find in the exchange account a very small amount of tokens that you are sure you have not purchased.

DON'T ABSOLUTELY MOVE THEM, NEVER CONVERT THEM: hackers could recover the private key and… ZZZZZAAAACCC.

The account is empty.

Bitcoin pollutes

Pollution

Yes, this is true, the Mining Farms are energy-hungry, that's why I traveled around half of Europe to find a location where my / our machines can draw on green energies.

A clarification.

For some schools of thought, nuclear energy is also considered green energy: it is not so, because waste pollutes enormously more than any coal-fired power plant!

My Mining Farm uses renewable energy!

With this article I want to say that if people took the time to study something well, they could have a three-dimensional view of the subject!

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MikeZillo
MikeZillo

Daily Trader, Mining Farm Project Manager, Blockchain consultant, Cryptocurrency evangelist. You can find more videos here https://www.youtube.com/channel/UCvyXx6I1C__zmLAYUXNZwQQ?


Blockchain Insights
Blockchain Insights

Working as a consultant for Blockchain projects, an operative experience comes by itself. In this Blog I am share Blockchain applications, pros and cons, practical use cases I got in touch with. Of course, a good understanding of the topic will be provided with dedicated contents

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