24 September 2017

170924 Crypto Currencies - limits, risks, backdoors, legitimity, crypto algorhytms

170924 Crypto Currencies - limits, risks, backdoors, legitimity, crypto algorhytms


Crypto currencies:
https://en.wikipedia.org/wiki/List_of_cryptocurrencies


Limits:
1. Will never be accepted worldwide by nations, corporations.
   Why?
   Because no state, government or bank will ever guarantee for it.
   Because none of above actors issued it.

2. Limited acceptance on internet, mostly for illegal and criminal activities.

3. In most optimistic estimates, only limited group of nations, geographically neighbours, will accept a crypto currency.
   This will be solution in case of local or global armed conflicts when Swiftnet will be useless or politically biased/boycotted.
   Geographically neighbours due to secure communications lines and avoid of sabotage or intercept.
  
  
Risks:
1. No authority guarantee its course versus real currencies or gold.

2. Without internet connection, is completely useless. In case of armed conflicts, totally useless.

3. In case of political conflicts between states, due to present internet infrastructure, USA and allies can anytime eliminate internet access and block any crypto 
   currency.
  
4. Crypto currency needs access to secure communications lines, nowadays internet as it is, is completely vulnerable physically. That is why only geographical 
   neighbours can build and assure a secure communication line.


Backdoors:
1. Despite so-called "open control", because of lack of state/government/bank control, anything can happen such as frauds, hacks and lack of integrity of crypto currencies depos or sites administering assets of crypto currencies.

2. Any major government/state have physical and technical possibility to stop encrypted communications and blocking any crypto currency.


Legitimity
1. Crypto curencies continue to exist and mostly be used for illegal and criminal activities because they are silently tolerated by state authorities and also used
   in same illegal activities.
  
2. Due to actual international situation and global tendencies of world biggest corporations which aim to supress national states sovereignity in order to achieve
   world dominance, Swiftnet, US Dollar and Euro will gradually no-longer be accepted by more and more countries like: Russia, China, India, Brazil, Venezuela, Iran, ... they will adopt other means for their inter-transactions.

Crypto algorhytms
1. Whole race for more secure communications and algorhytms is useless without physical securing the communication lines.
   Nowadays only physically mark located lines can be secured. Forget about satellites, they can be very easy destroyed.
  
2. Which means only geographical neighbours will group and form a common local crypto currency.


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