Is FP really wearing a million dollar watch? If so why? I'm really confused.
He's using the watch to smuggle his savings out of the South Africa level 5 chimpout:
That... could be true I guess. But wouldn't he just use monero?
Wow. I didn't take you for a fudster.
Well I'm not. And honestly I don't care.
But let me ask you this:
Do you really like using a tech that you have no way of
verifying fully if it does what it says it does, but you simply have to
trust what the devs tell you it can do?
If the 3 letter orgs have found a way to trace Monero transactions from origin to destination, you'd never know or hear about it, now would you?
It's open source code. You can verify what ever you want. If the cryptography is broken than yea we could have problems. But the cryptography is all older well vetted stuff. And it does follow that as long as the cryptography works than the network is trustworthy and trustless. But yea cryptocurrencies are not savings vehicles anyway. Too experimental, too new, too arbitrary. They are for moving value and speculating. Speculators should know and accept risks like that (the possability of cryptography being broken) and people who are moving money have the risk minimized by not being in the payment vehicle for long.
As far as the three letter agencies knowing. It reminds me of a book I read a while back called The Cryptonomicon, a large part of the book is about a cryptographer that cracked all of the Germans messages in world war 2, and had all of this info about the enemies positions and tactics, but isn't able to use 99% of it to save ally lives because that would give away the fact that the Germans cryptography had been cracked. So he's just sitting here listening knowing that this general needs to do this action with his troops inorder to win this battle, but he cant say anything and has to listen to reports of thousands of soldiers dying that he could have saved. Moral of the story, it's still worth the effort to use something like monero because they might not have cracked it, and even if they have cracked it it's still worth the effort because their unwillingness to give away the fact that they have is a measure of protection.