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RE: Economic Gunpowder by edicted

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Viewing a response to: @geekpowered/re-edicted-sl5du1

· @edicted ·
>For one thing, it's still not easy to send money via Bitcoin.

The problem here is that you're still thinking of crypto as gunpowder before guns existed.
What I am saying here is that guns haven't been invented yet. 
So all your arguments being laid out here revolve around gunpowder being used for fireworks and magic tricks.
Crypto is going to be weaponized; one of the most powerful economic weapons of all time.

We already see them trying to do this with CBDC, but that's not going to work because all the power comes from decentralized consensus.  Any community that doesn't adopt it will get bulldozed by it, and that might not even be a bad thing, especially in the long term. We simply aren't there yet all we see are the magic tricks.  Most importantly: we cannot predict how this is going to unfold. 

>Just typing in the long addresses and keys is a nightmare. And if you get them wrong, you're fucked.

#### You might be interested to know about the checksum.
In many cases if you type an address by hand or shuffle around the pubkey it's going to fail to send as it creates an invalid checksum.  

* A 12 word seed has 4 bits of checksum (1/16 chance of random success).
* 24 word seeds have 8 bits (1/256 chance of random success).
* While Base58 public addresses use 32 bits (1/4,294,967,296)

So it's basically impossible to shuffle around the numbers and send money to the wrong place. 
You've got a better chance at winning the lottery.
The real issue is scanning a malicious QR code or having a bad address injected on copy/paste.
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@geekpowered ·
$0.06
One could say that the Layer 2 tokens of crypto could be something like a gun in this analogy. But the current incarnations are like muskets. IMO the lightning network is like a wet flintlock sometimes...

You make a good point about typing in the wrong address or key. Mostly it's probably just my anxiety. Still a PITA in the current incarnation, but most of that is just the learning curve. It's a lot easier once you get used to it. So someone born into it has a lot less trouble.

I don't often use BTC though because of the fees and volatility. The other crypto coins solve that. The group of all cryptos as a whole fills the shoes of what some lack.
👍  ,
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@edicted ·
$0.15
>It's a lot easier once you get used to it. 
So someone born into it has a lot less trouble.

I've been here since 2017 and [transfer anxiety](https://peakd.com/hive-167922/@edicted/transfer-anxiety) is still absolutely crippling. 
Of course it's much better on a network like Hive where it happens within seconds. 

>#### But the current incarnations are like muskets. 

Gonna have to strongly disagree with you on this one.  Muskets are extremely powerful and dangerous, with the biggest drawback simply being reload time.  Looking at crypto, what kind of carnage has it caused?  How many hostile takeovers have occurred in the stock market because of crypto?  How many governments have been overthrown?  How many central banks have been nuked?  The answers are zero, zero, and zero. 

The analogy begins to breakdown when we realize that for the most part crypto is a defensive technology and is fully relying on the system to keel over and die from the shear unsustainability of the debt-based fractional-reserve economy.  The difference being that in the past some other stupid bullshit would fill the vacuum, while this time it will be crypto that fills the vacuum of these worldwide economic implosions.

Pay very careful attention to what happens to MSTR. 
This is the first line of attack into the stock market.
Meanwhile the ETFs may begin to threaten gold and real estate. 
This could evolve into a very interesting dynamic.
👍  
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