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Old 25-11-2021, 11:28 PM
Gem Gem is offline
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Join Date: Oct 2010
Location: Australia
Posts: 21,264
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Quote:
Originally Posted by Traveler
Doesn't bitcoin require a huge amount of processing power?
yes.
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it seems like bitcoin is a cross between a commodity and a credit card.
that's a good description
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This currency is perfect for criminals, as it leaves no trace.
The ledger is open source so anyone can trace any transaction. It's not good for criminal transactions. Criminals use cash because it leaves no trace.
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It is ripe for abuse as we see with all the computer hacking/hostage taking and demanding payment in bitcoin. I just don't see the positives outweighing the negatives.
There is some crime going on, but most crime is done in cash and all dirty money is laundered through businesses and banks that we accept as 'normal'.
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