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Title: If Russia Invites Bitcoin Adoption, The Global Arms Race Will Begin
Source: [None]
URL Source: https://www.zerohedge.com/crypto/if ... on-global-arms-race-will-begin
Published: Feb 17, 2022
Author: Tyler Durden
Post Date: 2022-02-17 15:04:23 by Horse
Keywords: None
Views: 297
Comments: 7

Recent pro-Bitcoin developments from Russia could put the Eastern power in a lead position as inflation grows. How will other powers react?

Poster Comment:

Bitcoin is not the only cryptocurrency. The US military is all that upholds the value of the US Dollar. The military is Woke and Vaxxed. It and the dollar are doomed. The Chinese are experimenting with a guarantee of gold convertibility for a digital currency.

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#1. To: Horse (#0)

That could send it much higher very quickly.

Pinguinite  posted on  2022-02-17   16:03:44 ET  Reply   Trace   Private Reply  

Are cryptos protected from EMP blasts/attacks?

“ On some great and glorious day the plain folks of the land will reach their heart's desire at last, and the White House will be adorned by a downright moron. ” ~ H. L. Mencken

Lod  posted on  2022-02-17   20:37:47 ET  Reply   Trace   Private Reply  

No. Only if your computer is in a lead shield.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2022-02-18   0:55:07 ET  Reply   Trace   Private Reply  

Saw another article saying that Ripple would be a better candidate. But China wants to issue their own digital currency convertible into gold.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2022-02-18   0:56:50 ET  Reply   Trace   Private Reply  

Are cryptos protected from EMP blasts/attacks?

Yes, crypto is protected from EMP blasts, assuming the attack is not so widespread so as to wipe out all computers globally. Though it were that massive, then all fiat currency would be wiped out as well and we'd be back to a 1700's economy anyway.

The key point to remember is that blockchain technology is a redundant database system. Every node (computer) on the internet that is participating in the blockchain program has a complete copy of the entire blockchain database, so if 99% of these nodes/computers get destroyed by an EMP blast, so long as there is at least 1 copy remaining intact, then all crypto funds associated with that blockchain are safe. The recovery would simply mean replicating that node's copy of the blockchain to other computers, which would regenerate the entire system globally.

Now you would have your crypto wallet on your home PC with funds in it, and if it got wiped out by an EMP attack and completely destroyed, then your funds are still fine SO LONG AS you have a copy of your private crypto key tucked away somewhere, and that can be on a handwritten sheet of paper which would not be affected by an EMP attack. Your recovery process would be to get a new computer, download the same wallet as you had previously and start it up, then go through the wallet restoration procedure which would be loading up your private key into the wallet, and then you will again have access to all your crypto funds.

With some effort, this private key could even be memorized (12 passwords) so you wouldn't even need a sheet of paper.

Pinguinite  posted on  2022-02-18   1:32:08 ET  Reply   Trace   Private Reply  

Saw another article saying that Ripple would be a better candidate. But China wants to issue their own digital currency convertible into gold.

Ripple is centralized, so if the issuing company were to go belly-up, then Ripple would instantly drop to zero. It's best that only free market coins are entertained as

China has their own centralized digital yuan which they are developing, and word is they are in first place among all countries in the development of their own centralized crypto. If they want to back it with gold, that's their choice.

Pinguinite  posted on  2022-02-18   1:41:23 ET  Reply   Trace   Private Reply  

Thanks for the further edification.

“ On some great and glorious day the plain folks of the land will reach their heart's desire at last, and the White House will be adorned by a downright moron. ” ~ H. L. Mencken

Lod  posted on  2022-02-19   9:28:33 ET  Reply   Trace   Private Reply  

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