I wonder if those fees, and the cost of profitless mining will crash the bitcoin value? I assume the mining process continues with the huge cost to continue making transactions?
I have not dug that deep into it, since I decided to avoid investing in bitcoin and its relatives shortly before the all time high... and crash.
Probably not if the hackers, e-bank-robbers and terrorists continue to use it for transactions to collect ransoms, it will be chump change to them.
So what you are saying is the easier it is to access block chain and add a transaction, the easier it is hack????
By hack I mean make changes to bank account or debt data and locations of data like amounts of $$$$s in a bank account?
I am getting the idea that block-chain is only about making data safe from undetected and unauthorized changes in stored historical data?
Which in an of itself is super important.....But it is not about protecting access?
I am starting to see how huge it could be for tagging stuff, Rx drugs, parts, physical inventory items, warehouse stuff at Amazon warehouses....
So the block-chain could be used to store the Quantum dot-tag finger prints for use later to confirm a scanned Q-dot has the right un-clone-able fingerprint for the part or box or Rx claims to be.....
Sounds like good reason to buy a block-chain software start up or what ever we bought?
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