The Big Flaws, Loophole, The End Of The Current Digital Cryptocurrency System 1.0 Is Here
Original Source:
saviorscyber.wordpress.com
saviorscyber.livejournal.com
The current digital cryptocurrency coin system is far from perfect, far from good enough to be used and accepted by national government. In fact some big nations with high population have banned it from daily trading and even just only buy/sell/trade.
The end of the current cryptocurrency coin system 1.0 is near, there is no doubt about that.
In this article, I will show and tell you what are the big flaws, big loopholes of the cryptocurrency system 1.0.
List of the big mistakes are too many from both ideology to technical, here are some major errors:
– The creation, ICO:
From the beginning, most of the cryptocurrency coin was created by only small group of people, then all what they are doing next is “marketing, manipulate” the public people to get accepted and used it.
Often more than 50% shares of every coin/cryptocurrency was hold by tiny group of people(investors, creator developer team) from the start, and they are the one who really “control” the market price.
All the cryptocurrency coin can be easily to created, replaced with just some open source code (just some small twist editing, branding), since they are lack of respect with the public people.
– The use, connection with daily life:
The lack of connection with real daily life, society is the major issue of all the current cryptocurrency coin, because it was created from small low level people group with purpose of “control” others, instead of sharing and fair with other people.
All what they are trying to do is telling the public that decentralize is better than centralize system, but they forget that technology is just a small unnecessary industry in real the whole society.
Without blockchain, technology, the life still move on since people need real food exist since ancient time, they do not really need machine.
– Security:
All I can say about all the crytocurrency system 1.0 is that they are too stupid.
If I tell you there is some entities/group who have access to the whole cryptocurrency system 1.0 and know every single “secret key” of all the crypto wallet, do you believe that?
Why?
Because all the crypto wallet was created by machine from the start to finish.
Ask yourself: where the crypto wallet ID and secret key come from?
Do you create it by your own mind or it was generated automatic via machine/software?
And all it take to completely control any crypto wallet is just the crypto wallet ID and secret key, am I right or wrong?
Sorry folks, but that is the truth, the big flaws big loopholes from the current crypto system 1.0.
It is just matter of time before some cryptocurrency coin “be hacked” by some illusion insider hackers.
– Mining:
That’s is just the security, while with the mining/obtaining cryptocurrency/coin, there is another issue.
The current “mining” cryptocurrency system is like the old stone age time of digging natural resources gold, silver, bronze, etc. All you need to “mining” is big machine big electric, you dot not need to spend anytime to think anymore.
It make all the cryptocurrency no better than any type of in-game currency.
We are living in the modern world with the use of mindset via fiat paper money, not the old time of silver, gold anymore.
So the current mining cryptocurrency system 1.0 is totally outdated, not match with the current society system and not the way to go in the future.
Overall and in conclusion: the end of the cryptocurrency system 1.0 is near because they have too much flaws and loopholes.
The new cryptocurrency system 2.0 is which I will introduce next is the future, is the way to go.
It not only about technology but also about society life, moral, education people.
Best Regard,
The Savior From Cyber
Original Source:
saviorscyber.wordpress.com
saviorscyber.livejournal.com