Anyone can see your wallet, its open for anyone to see. I have literally seen Logan Pauls entire blockchain history from the day he opened one. No hacking, no special software, its all out in the open. Would you want that to be the future of finance? Where I can see every online payment you ever made? How much could I find out about you if all payments were made that way? What if your bosses chose to have a look to make sure 'your personal values tie in with theirs? What if the police used it to find out what sort of people you donate to to find 'potential trouble makers'?
What if people with trully bad intentions could see your entire financial history? If you are on the right, imagine what level of 'cancel culture' the lefties could inflict on people when they can see your entire history and can put anything thet want in your wallet with no ability to remove it?

I am pretty much a libertarian leftie and to me an authoritarian world would only take a couple of steps from here, if ypu are on the right then it should scare you that personal privacy would be over as we know it and cancel culture would have vastly more weaponry than just shouting online. As a capitalist you should be terrified that everything you have built can be taken from you by any bored teenager that just wants to see the world burn

Cryptocurrency has all the potential to be the very worst thing thats ever happened to society and the only reason it hasnt is that most people with half a brain know that they dont know enough about it to bet their future on it

My take has always been that fiat currency will win out, most likely in a digitised form IF it makes sense to do so.

But a lot of work needs to be done re. what I thought was a good technology (blockchain) to turn it into something usable

In it's current state, crypto is nothing more than a speculative asset. Until something viable arrives on the horizon it is being maintained by nothing other than people with vast wealth, scams, FOMO and hot air.

So, every transaction can been seen openly, its built into the chain itself, so if I know your wallet id (Username for your wallet basically), I can look on the history of every payment you have ever sent or received. The only thing that is anonymous is that it doesn't specifically have your name on it but if you ever want me to send you money, or send money, you will have to give me that wallet id. From there I can find out everything you have ever done. It is not possible for it to be anything other than open and available for anyone to see.

There is no future it crpto, companies will say it is, people into crypto will say it is, but it cannot provide anything that doesn't already exist, leave them in their bubble. You are not missing out on anything, and NFT's are just a bunch of people who are sick of "the man treading on the little guy" who are desperate to be the man so they can tread on the little guy.

I agree and been trying to explain this to many people but they wont listen.

The people gaining and that own most of it are already wealthy who are manipulating the market.

When you still have to provide ID like a passport or Driving license to even use the service you know full well the whole claims of anonymous plus govt has no involvement is BS crypto is taxed

I was hoping it would die many years ago before it hit mainstream and people fell for the misleading info about it.

Only from what I hear it's more the location of the art in the chain that people own rather than the online art work itself. That and there's a mad scramble for 'art' that people have clearly knocked up in five minutes, akin to Tulip Mania. M

Edited by BlueJay (07 Apr 2022 4.15pm)