but as soon as you gain access all you need is your 12 keywords and you can recover all the data

there are already sat networks being put up for bitcoin

it would take an unreasonable amount of effort to take it down

right. the ditributed network is the key to continued operations outside of emp. like cloud or vpn computing. you want to know what computers can mirror the blockchain to revive it.

I joined a blockchain a fee years ago, I can’t get anything out of it. It was One Coin, a person I once looked up to for his business sense had gotten me into it. Now it appears to be locked down as a scam.

well something like 90% of the blockchains are literally just a copy of the exact software used for bitcoin

was it an alt coin or bitcoin?

because bitcoin is totally open source

many people copy it and try to change the rules to get rich

blockchain is open source

some of them claim the rules are changed to make the system usable for some specific purpose

but really bitcoin is the most secure and the most decentralized

many of the changes either make it less secure or more centralized

that is why there are over 2000 alternate cryto coins. Bitcoin is the reserve crypto currency of them all.

but any changes mean they have to create their own chain of blocks

I don’t know enough about it... I know it was started by a “brilliant” woman and was located in Dubai

My skepticism about blockchain is the continuation of mass surveillance and data acquisition. Not like we don’t already have that to some extent now, but sometimes more isn’t better. However I understand the many advantages it offers.

bitcoin is not really intended to be private although you can make exchanges from temporary accounts so you cant be tracked

Right @kreskin1 the blockchain doesn't lose any history, it is just added to.

I can see advantages, but so skeptical because who the beck do you trust? And what are the cons?

Should one get access ..like big bro.....the entire history of transactions may be revealed.

the whole history of transactions is always public

if someone shows you their wallet address you can look up every transaction they have made

Plus I understand that as time goes on fewer coins are produced

but there are already resources that essentially just create 10 temp accounts and shuffle them to hide the transactions

well coins get harder to make

but there is a permanent set amount that can ever be found

mining coins is the incentive to solve the hashing algorithm i talked about that let transactions be made

Bitcoin has a limit of like 18, 000 coins that can be mined. I think they are around 16K to date mined.

plus some people have already lost their wallet info

and will never be able to recover it

so the number of coins theoretically is decreasing over time as well

the software wallet info yes....but not the hardware wallet . No one should leave crypto in a software wallet.

well your coins are not technically in a wallet

the wallet just holds your keys

as long as you have the 12 key words you can move it whenever you want

I have a wallet from the original bitcoin, and still have the password, not 12 keywords, just a long stringer of numbers. ....orrr is that not bitcoin?

the h/w wallet takes the ability of the web to modify your blockchain. A key feature of blockchain is to mirror the transaction multiple times on the web. for Bitcoin it is like 10,000 computer. take one off line and the modifying, trading or transacting a specific block is prohibited. It won;t populate and resolve..

And as I understand, you can’t just create more outside of mining.
Again, my skepticism gets the best of me and recalls that it’s just a software algorithm. Just a matter of time before poof something happens that either makes more for someone (ala counterfeiting) or mine mysteriously disappears in some transaction that takes place.

Boom

💥