Digital Money

Cryptocurrency

Here is a good analogy for anyone who has been around computers for any real length of time. I’m talking at least 20 years.

My quote of the day.

Anyone who has ever used an encryption program to encrypt personal files and then forgot the password and forever lost the data can understand why cryptocurrency is a bad thing.

Relying on a digital file to hold something of real world value is fool hardy. Holding a coin in your hand is always better than holding a flash drive that could easily get corrupted, accidentally wiped, or stolen. You could make the argument that the thief can’t access the money either but you could always forget your password and then you’d be in the same boat. This has happened before to the tune of millions of dollars. Well, digital made-up dollars at any rate.

The undoing of society will come from a combination of human arrogance and an unnatural reliance on digital creations of our own making that we neither understand nor fully control.