The author asks the Hackaday community to brainstorm solutions to this unique problem, as owners of effected vehicles have had to resort to sprinkling their driveway with coyote urine and putting rat traps on the wheels.
So backed by the full faith and credit of the drug cartels? Seems legit.....
Well, when S3 got hosed, some of the data never came back. But note that lkml.org isn't waiting to replace the board, it's switching to a VPS. In fact, it's back up now.
They have to do that so they can have an excuse to fine their corporate overlords less than they make in excess profits when they scam the world for billions.
Actually, "The Cloud" has had more down time than lkml.org over the last few years.
They did the #1 most important thing and made sure the data was safe. The rest is a matter of actual need. Will the world end if the mailing list is down for a day? No, it won't.
Will millions of dollars be lost? Again, NO. Will someone spew Cheetos crumbs everywhere in impotent rage? Possibly, but not anyone who actually contributes to the kernel.
Firemen and emergency medical personnel seem to still do that.
Some things actually call for a much lower error rate. Operating a nuclear plant, flying commercial jet, killing people with your gun, etc.
In two of those 3 cases, any incident results in a thorough investigation and changes to procedures and practices to make sure it doesn't happen again. In the third, it gets swept under the rug.
Had Bitcoin fulfilled the claim that you would be able to use it anywhere and everywhere, it MIGHT have maintained some degree of anonymity (if you never slipped up), but since you have to turn it into some other currency to actually spend it on anything practical, the association between that anonymous wallet and your identity will always be knowable.
Gold has plenty of value. It's ductility color and resistance to tarnishing make it prized for jewelry. Its conductivity makes it useful in electronics. Its salts even have some value in medicine.
Even dollar bills have more intrinsic value than Bitcoin. You can write notes on them and have fun defacing the portrait.
People use gold for that. It has the advantages of being tangible and having thousands of years track record for holding value.
Nobody is going to accept transaction costs of more than a few percent for small transactions and nobody is going to sell anything more expensive than a cup of coffee without using an escrow and waiting until the transfer to that escrow clears before they hand over the product or service. That pretty much kills it as a means of value exchange except as a last resort.
The final nail in the coffin, it is just as traceable as a credit card or bank transfer. The people who touted it as being as anonymous as cash have been proven wrong.
Given that, what is the new theory for it retaining any value at all? It IS a fiat currency. The bit of digital data and the whole blockchain carry no intrinsic value outside of the value exchange, just like any fiat currency. If that bit of data represents anything at all, it represents the burned coal that produced the power to run the mining machine. How valuable do you suppose already burned coal is?
Like most modern financial instruments, when the music stops, a very few will make some money and a bunch of people will find no chair.
Nothing recedes like success. -- Walter Winchell