Topic: PRIVATE KEY - Nobody in the universe can break it. - page 2. (Read 222 times)

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I do not own this. Everyone does.

I have a good blockchain break, but without a bank it is not possible
fines, taxes, or other small expenses are needed for the bank
Blockchain may be the future, but to replace the bank it is not enough

i love bitcoin, but lets get rid of the fake hype and stick to reality.. you know.. stop over promising and under delivering and instead stick to facts and let people understand what bitcoin can offer in reality

with it becoming too costly to fund a private key, many third world countries are finding it costs atleast an hour of their minimum wage just to move funds and thats when mempools are near empty.. and when mempools are over crowded it can cost a hours labour for first world countries(weeks salary for third world)
 
unless you agree to accept funds through a multisignature channel on LN. yea thats right LN is the same as banking, where funds are no longer just yours but payments require someone elses agreement to move funds.

as for killing banks. banks have fiat laws such as minimum wage, taxes and court fines that only accept fiat as payment.
and goverment/public sector laws that only pay out salaries in fiat
this means that fiat will continue to circulate. meaning banks wont get killed. all that will change is that there will be less local bank branches and instead more apps/atms

some say that trying to get states to accept bitcoin for tax payment is some how making bitcoin kill banks. yet a government tax office having a partnership with something like bitpay or coinbase as their currency swap does not make bitcoin kill fiat. it just make bitcoin acceptance a gimmick. the treasury still holds fiat, and just uses a processor third party company to accept bitcoin and hand the treasury fiat.

its like in the 90's where some supermarkets swap recyclable tin cans for food vouchers. this did not mean tin cans would replace fiat.

bitcoin needs alot more then user adoption and gimmicks if it wants to try replacing fiat.

and bitcoin alot mor onchain coding practices to sort out the onchain issues which offchain solutions do not make bitcoin better, but turn bitcoin into the same crapy system as fiat, which then makes it less appealing to use bitcoin as it offers no advantages over fiat

I like what you're saying but is not technically correct,  you are the only owner of your bitcoin however you can lose it to scammers and hackers, yes it is not going to be bitcoin's fault it will be because of our inability to take care of our coins but still the possession of our coins can be taken away in fact there have been reports of thieves stealing bitcoins the old fashioned way by threatening the owner with physical violence.

The verb TO OWN never was fully expressed since blockchain came to existence.
You own the private key, you own the funds, period. There is no force in the world yet (later maybe quantum computer) capable to break it.
That is one the reasons why bitcoin will kill banks. We will simply don't need them anymore.