Bitcoin, page-61

  1. 898 Posts.
    "I believe a block chain pinned to Precious metals will eventually become the way of the future,"

    Any attempt to create such a system connecting to the physical world required a 3rd party which is inherently dangerous (See Tether for just a recent example of this).

    "Then and only then central banks will have no more reason for manipulation of Gold and Silver"

    Because custodianship was the original flaw, and this has not changed for handling physical items with Blockchain technology, I don't see how this is solved at all.

    "however they would need to be more regulated by auditing volts extra, so not completely independent of third parties... However bitcoin is subjective to software changes so it’s not completely off the hook either. "

    No user is either forced to upgrade or stay on a particular client. If a person running a node disagrees with changes made by developers, they can change their node software to a different implementation. Bitcoin has no trusted third parties, and that was the entire basis of the system.

    "I believe central banks around the world are already working on a solution to stable blockchain"

    They will fail, and create pathetic 'Bubble boy' payment processors with massive security flaws instead. The only way they can create a Blockchain is if they create a system of P2P consensus for the people. They will not do this, because they do not want it.
 
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