"The only way" The only way to defeat WPA2 is to decrypt it and it would take forever.... or um you just make it give you the key in plain text
1 hard fork already, one just abandoned... so yes, there IS a "central bank" On Fri, Nov 17, 2017 at 1:28 PM, Chris Wright <ch...@velociter.net> wrote: > Many of the negative things you say here about BTC are questions I had > when I was still learning. Let me clear some things up. > > Coinbase charges for when you want to buy BTC with fiat (USD). They have a > business to run. Everyone here knows that processing debit/ACH payments is > NOT free. Onboarding your US dollars to crypto currency will require a > gateway, and every gate requires a gatekeeper, and every gatekeeper has > mouths to feed. > > Sending BTC from wallet to wallet is not free. Current transaction fees on > Bitcoin are ~$10 USD at the time I'm writing this. Other crypto currencies > like Ethereum are more robust in this area (~$0.30 currently). Every > transaction needs to be written to the blockchain, which requires mining > time, electricity, and processing. > > Bitcoin and other cryptocurrencies are doing what the banks have been > doing for years... it's an electronic ledger. What's a bank statement > worth? It's only a piece of printed paper or numbers on a screen that show > how much currency to which one is entitled. It has no value in and of > itself. A US dollar bill is simply paper; its value is whatever we all > agree it is. The *big* thing cryptocurrencies bring to the table is that > your "bank account" is no longer controlled by one central building. Your > account, or "digital wallet" is controlled by thousands of computers, each > checking themselves against the other. > > The only way someone can hijack the blockchain would be if they controlled > more than 50% of the compute power in the mining world. Think about how > many vectors of attack from which our traditional banks are vulnerable. > > This video answered even more questions I didn't even think to ask... I > highly recommend giving it your time. > https://www.youtube.com/watch?v=bBC-nXj3Ng4 > > Chris Wright > Network Administrator > > -----Original Message----- > From: Af [mailto:af-boun...@afmug.com] On Behalf Of Travis Johnson > Sent: Thursday, November 16, 2017 1:42 PM > To: af@afmug.com > Subject: [AFMUG] BTC > > Hi, > > The entire idea and goal of bitcoin was to take away the financial > institutions from having "control" and charging fees to handle money. In > exchange for no fees (sending or receiving BTC is free), you also have no > security. Once it's sent, it's gone. > > However, now the banks have just been replaced with places like > Coinbase... bitcoin "exchanges" that charge roughly 1.5% for every buy/sell > transaction... and they take 7-10 business days to convert btc to cash or > visa versa. > > I don't see how this is a long term thing? Once all the "mining" is being > done by huge datacenters (for another 3-4 years is all), then I don't see > it becoming the new money standard like everyone thinks. You will still > have to pay fees, and someone else is still in control of your money. :( > > Travis > > >
