They already do the second thing, and answer this, what EXACTLY is on that high value land you’re talking about?
you can manipulate who owns what if you own a majority of the coin available
This is a blatant lie. I don’t know who told you that. The closest thing to what you are describing is a 51% attack in which you have +51% of the network hashrate, in which you try to insert an alternate blockchain because everyone will have to do confirmations on you. This allows them to:
block transactions
double spend coins
prevent the creation of new blocks
It does not allow them to steal crypto from confirmed transactions. At most, it will allow them to spend a coin somewhere and then yoink it to another address.
You may point your finger and be all like “See! You just admitted it right there, that’s PROOF”
Nuh uh uh, not so fast buddy
If you are using a reputable coin, this is prohibitively expensive to perform, and the thing about this is, you get ONE SHOT to do this.
The thing that is comical about this, is that the government’s mint has the exact issues you are describing right now.
nobody accepts bitcoin
And who’s fault is that exactly? Besides, that’s not even accurate to begin with. Some of the largest companies on earth accept bitcoin. Tesla for instance accepts bitcoin. Many smaller vendors accept multiple cryptocurrencies, hell, I’ve bought real world goods including food off of MoneroMarket.
using exchanges
Lol. Do you think I got my crypto from an exchange? Don’t you think the idea of KYC defeats the entire concept of a CRYPTO currency? A currency based around cryptography? One that allows for privacy and anonymity on different levels based on which one you choose (which should always be monero or its forks)? Also, what do you mean smart contract? None of that shit matters if you transfer your coins to a wallet you own and get confirmations.
If you are buying crypto from robinhood, first off you’re fucking retarded, but second off that’s not an exchange, that’s a stock broker who is using crypto (that they likely are not even holding) as a stock.
They already do the second thing, and answer this, what EXACTLY is on that high value land you’re talking about?
This is a blatant lie. I don’t know who told you that. The closest thing to what you are describing is a 51% attack in which you have +51% of the network hashrate, in which you try to insert an alternate blockchain because everyone will have to do confirmations on you. This allows them to:
block transactions
double spend coins
prevent the creation of new blocks
It does not allow them to steal crypto from confirmed transactions. At most, it will allow them to spend a coin somewhere and then yoink it to another address.
You may point your finger and be all like “See! You just admitted it right there, that’s PROOF”
Nuh uh uh, not so fast buddy
If you are using a reputable coin, this is prohibitively expensive to perform, and the thing about this is, you get ONE SHOT to do this.
The thing that is comical about this, is that the government’s mint has the exact issues you are describing right now.
And who’s fault is that exactly? Besides, that’s not even accurate to begin with. Some of the largest companies on earth accept bitcoin. Tesla for instance accepts bitcoin. Many smaller vendors accept multiple cryptocurrencies, hell, I’ve bought real world goods including food off of MoneroMarket.
Lol. Do you think I got my crypto from an exchange? Don’t you think the idea of KYC defeats the entire concept of a CRYPTO currency? A currency based around cryptography? One that allows for privacy and anonymity on different levels based on which one you choose (which should always be monero or its forks)? Also, what do you mean smart contract? None of that shit matters if you transfer your coins to a wallet you own and get confirmations.
If you are buying crypto from robinhood, first off you’re fucking retarded, but second off that’s not an exchange, that’s a stock broker who is using crypto (that they likely are not even holding) as a stock.