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Re: Embattled Crypto Exchange FTX Files for Bankruptcy

By: Decomposed in 6TH POPE | Recommend this post (0)
Sun, 13 Nov 22 12:26 AM | 31 view(s)
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Msg. 37374 of 60008
(This msg. is a reply to 37371 by Zimbler0)

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Zimbler0:

Re: “Are you SURE that that isn't what is going on right now?”
The code is published. The best mathematicians have scrutinized it and found it sound. If you wanted, you could download or even type in the code, compile it yourself and link into the blockchain. If there WAS a flaw, somebody or some nation would have exploited it by now and taken bitcoin's hefty net worth to zero. They haven't done that.

So, yes. I'm sure bitcoin is secure.

As for wanting a currency to not having big swings in value... well, that's your prerogative and preference. You prefer stability over risk. That's fine. But in so doing, you also forgo any chance at large returns and expose yourself to all the flaws that exist in an easily counterfeited (by foreign powers) and debased (by our own federal government and the private bankers who own the Federal Reserve) fiat currency. Keep that in mind.








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The above is a reply to the following message:
Re: Embattled Crypto Exchange FTX Files for Bankruptcy
By: Zimbler0
in 6TH POPE
Sat, 12 Nov 22 11:47 PM
Msg. 37371 of 60008

Decomposed > but I do know that if it were possible to debase bitcoin, somebody would have debased it to zero and cashed in to the tune of many hundreds of billions of dollars by now.


Are you SURE that that isn't what is going on right now?

But I think one of the points I was trying to make is that a currency useful for commerce should NOT have big swings in its value.

Zim.


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