Your Burning Crypto Questions Answered
Your Burning Crypto Questions Answered
In this episode of Crypto Curious, your hosts Tracey, Craig and Blake take the time to answer a few of the many interesting questions they've been receiving from listeners.
One of the most commonly asked questions is: “What is the biggest threat to Bitcoin and crypto in general?”
As Craig points out, if a major stablecoin provider was found to not be fully backed by dollar reserves, it could be devastating to the crypto industry. The massive stablecoin industry is critical to the overall crypto market cap, but it's value means nothing if each token isn't backed by real fiat money. Negative legislation is another important factor that could have a big effect on crypto, with several countries calling for bans or strict regulation that could stifle innovation. On the technical side, quantum computing presents a potential threat to crypto security because the massive amount of computing power could easily override even that largest blockchain using a 51% attack.
A second listener asks about the flippening, a hypothetical event where Ethereum takes over Bitcoin's as number one by market cap. Craig believes it could happen but might only last a few weeks, although in the long-term Ethereum has more potential than Bitcoin in respect to DeFi and Web 3.0 support. A third question covers the various methods of staking, from wallets like Exodus to third-party staking services that provide Ethereum pools.
Naturally, no Q&A would be complete without crypto's biggest mystery: Who is Satoshi? Hal Finney, who died in 2014 soon after Satoshi went dark, seems a highly likely candidate. He was the recipient of the first Bitcoin and spent 10 years living in the same neighbourhood as a man named Dorian Satoshi Nakamoto. Nick Szabo and Adam Back are also named as potential contenders but to this day, the mystery of who Satoshi is remains unsolved.
Carry on listening to hear answers to several other questions, including how Discord has taken over from Telegram, what happens if you lose your Ledger wallet, and which virtual lands exist.
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