In order for me to show you with facts of historical accuracy, why Bitcoin and Cryptocurrency being mined will not die we must start at the basics.
In order for me to get the heart of the matter we need to take a look into the Algorithim of Bitcoin in itself.
Q: What is a Military Grade Encryption?
Q: Is not SHA 256 a military Grade Encryption?
Why then would a military create something they tend to destroy?
"military grade encryption" or banking typically means compliant with FIPS 140-2 Level 1
Military Grade Encryptions are made up of the following Algorithims;
FIPS 140-2 includes SHA-1, SHA-224, SHA-256, SHA-384, SHA-512, SHA-512/224 and SHA-512/256 hash functions; however SHA-1 is no longer considered secure. Many banks use SHA-256.
Now that we have the basics out of the way, let me show you, unlike many people talking out there, I actually have done my homework.
BITCOIN the modern Version of the Founding Fathers Colonial scripts.
When the colonies were formed they printed up their own currency not backed by the Bank of England. This prevented the Bnk of England from owning the colonists money.
Want proof here is this in Benjamin Franklin’s own words of his diary. Benjamin Franklin first hand saw how the colonies prospered when they coined their own money printed proportionate to pass from consumer to producer.
I will leave you with the following thoughts, If the encryption is military grade, why would it be created by a military grade?
Would not the military want a weapon to prevent any future central bank from gaining power?
Did not Benjamin Franklin himself state when the people coin their own money the country prospers?
If history has taught us anything is that this evil will repeat if we do not have guards in place. Bitcoin and cryptocurrency will never die.
References:
Military grade encryption Information
Colonial scripts and the history of banking
http://www.mindcontagion.org/banking/hb1763.html
https://www.adamfletcherseries.com/the-currency-act-of-1764/
***Bitcoin has no central control: no central repository of information, no central management, and, crucially, no central point of failure. And yet, most of the actual services and businesses built within the Bitcoin ecosystem are centralized. They are run by specific people, in specific locations, with specific computer systems, and they are susceptible to specific legal entanglements.
This shows that Bitcoin in itself is decentralized, just because the businesses that want to centralize it are centralized Bitcoin is not, Let us remember MT GOX the first Bitcoin exchange, it was centralized, oh yes it failed But Bitcoin did not. Truly shows Bitcoin is and always will be decentralized. You only need a wallet and it can never be shut down
