Crypto Network Attacks, Manipulation and FIAT
Every time I post a thread about FIAT, the OGs of crypto comes out. And they ask why do you need FIAT. Because it seems a lot of people have found a way to pay for their everyday life using the crypto. However the rest of the world has catching upto do.
I am one of the people who have yet to catch up on the crypto being used in everyday life. A lot of govt people are not going to be using the crypto as is but through series of steps. And in most of the nations crypto would get status like stocks but not everyday currency.
Currencies too get manipulated. Like some companies creating stablecoins and getting the license for the same and making the currencies being used in the social network. That would be the new trend and I am going to write about it later some time in this week.
So the topic today is how you wish to handle the network attacks, manipulation and FIAT?
Crypto Network Attacks
Each year we learn some attack going on against somechain or the coin. And that made the owners lose money etc. But at the end we learn that the attack was fake or made by the owners themselves. So in short a lot of time such attacks are fake.
Most of such attacks happen on public network. Govt needs to avoid such network for the confidential data and the chains should not be easy to attack into. Which would make the life a bit more easier when you want to trust those chains.
Coin Manipulation
A lot of chains are started with the intention of letting the rogue coins out. Tron being one such example. They have a lot of fake coins that would be playing with the money of people. And that manipulation means you are playing into the hands of the predator.
When you buy the altcoins and they get pumped and then you HODL and suddenly those coins end up in dust bowl. In short coin manipulation is real and it does happen. However bitcoin and ethereum has gone beyond the control and can't be easily manipulated. But always be aware of such stuff.
FIAT
Like it or not, we need it.And as of now it is what is keeping the economy around the world alive. You can replace it with blockchain but we don't have means to avoid the invasion that would cause if we go purely on the crypto. Which is something to consider.
You cant think of the FIAT as enemy all the time.It also has means to protect your boundaries and it is kind of necessary evil. Not all govt are evil and not all govt spy on poeple. So that theory doesn't work.
However the point is network manipulations by the corporates is something to think over. And watching out from the coin manipulation is another scam to think about as well.
What do you think?
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