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Global IT outage shows dangers of cashless society, campaigners say
(www.theguardian.com)
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this post was submitted on 20 Jul 2024
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Privacy
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Because you can't just go and buy real world goods at will as with cash. If there's ever a Carrington Event, your Monero is worthless in an emergency.
Lol. How is your crypto gonna work without global peers and internet, friend?
Paper wallets. It is definitely false that crypto requires the internet, because it does not. It's more helpful if it has the internet, for sure, but it's not an absolute hard requirement.
Ha. Okay. How do you expect ledgers to get updated then? You're aware that a blockchain can't function without multiple distributed peers, right? That means power, and the Internet.
One internet connected computer could make many paper wallets of whatever denomination they wished and then use those as currency. As long as it's provable that the paper has not been spent which a hologram or one of those gift card scratch off things would help with. Anyone who receives such a paper that has not been tampered with can be assured that the money that it claims to have is actually there and can take it to any internet connected computer in the world and transfer it to their own digital wallet from the paper wallet. Or they could broadcast the transaction over any kind of transmission medium up to and including amateur radio over HF.
Edit: Unless I'm doing my math wrong, which I totally could be, it would take about a minute and a half to broadcast a current Monero transaction over HF amateur radio with a possible maximum of 6 minutes if full chain membership transactions are 10kb (which i have heard as an upper limit)
Friend......WOW.
Appreciate the effort in your response, really, but you're just missing the point. Now you're just desperately grasping to make crypto sound useful in an apocalyptic setting, which it 100% is not, and we were not discussing anything like this in the first place.
Cash or tradable goods are infinitely more plausible and useful than crypto in any scenario where there is still a default monetary system functioning. That's just a fact.