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Regarding privacy: in some ways Bitcoin's system is inferior to the privacy provided in the existing banking system.
OK, there are no names on the blockchain, but your public key is there and so anyone you ever transacted with knows it's you, and can see all the other transactions you did with others. If you move your funds to another private/public pair, this is visible too.
The only way to really maintain your privacy is to never use the funds, or to use them rarely - thus defeating the purpose of a currency.
Then, we have the issue of security. Having no identities attached to public keys just makes it so much more tempting target for hackers. Buying and selling bitcoin is simple, but to do that in a really secure way is, I believe, very challenging for most of the population who can't be bothered going through technical details and instead rely on the most popular solutions (exchanges, wallets etc) to take care of that for them.
The only way to really protect the funds from being stolen / hacked, is to keep them in a cold storage and never go online to spend any, which again defeats the purpose of a currency.
So your Bitcoins are private and secure, as long as you don't use them...
Today we passed the 800 B$ mark and that is not due to Bitcoin making new highs
a broad across the board increase of alt-coin value has pushed the total crypto curreny
market cap beyond the 800 billion $ mark
The second chart shows the dropping importance of BTC in the overal market cap
I remember the scene in the big short
the guy rings the house ask for a name, the guy responds : "wtf do you want from my dog"
answer : "you entered your dog's name on the mortgage application ? "
applicant : "yes"
Consequences probably twofold :
- less BTC on offer, higher volatility
- operational less proof of work, longer transaction time, potential panic
or disgruntled customers, chaois
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Maybe we are saying the same thing, but I think it's disruption to the 'supply of computation' not 'supply of coins'.
I think the disruption to 'demand for coins' would be almost be equal to 'supply of coins'.