News for hackers. Stuff that matters.

A comment on The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says. Parent comment

Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by mancerayder on Monday October 15, 2018 @12:13PM (#18220954)
The implication now is that there'd be no standing armies or other, as you say, tools of power? Do you believe this?
[ Parent | on HN ]
Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by superkuh on Monday October 15, 2018 @12:20PM (#18221029)
Not sure where you are going with this, but yeah, Bitcoin does not have a standing army. It secures itself from attack by proof of work.
[ Parent | on HN ]
Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by root_axis on Monday October 15, 2018 @12:53PM (#18221380)
If your logic made any sense then only countries with standing armies could successfully issue their own currencies, but that's obviously not the case.
[ Parent | on HN ]
Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by s73v3r_ on Monday October 15, 2018 @12:32PM (#18221152)
Ok, cool. How does that secure the rest of us?
[ Parent | on HN ]
Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by OedipusRex on Monday October 15, 2018 @12:51PM (#18221363)
It doesn't, Bitcoin is as safe as the security of the person who holds it. And as someone who had Bitcoin on Mt Gox, this is a moot point to argue.
[ Parent | on HN ]
Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by s73v3r_ on Monday October 15, 2018 @02:57PM (#18222608)
The point is that the military that the person claimed should be counted in the energy expenditures related to the USD does far, far, far more than "protect the dollar", and even if we all moved to Bitcoin, we'd still have to have the military.
[ Parent | on HN ]