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dickthegrouch

(4,085 posts)

10. I read somewhere that it would also give priority on FDIC insurance to idiots who buy bitcoin

Reply to IrishBubbaLiberal (Original post)

Mon Jun 30, 2025, 09:47 PM

Jun 30

No matter that they've never paid into any fund for that kind of insurance.

That is a CRUCIAL fault in the entire bill.
Prime numbers, on which bitcoin is predicated, cannot be uniquely owned.
I can no more own the prime number 3 than I can a prime number with a billion digits! Yes it might take me slightly longer to come up with the second, but quantum computing is going to erase even that advantage.
If two or more people can generate those prime numbers, two or more people own the money behind them, the only question is who manages to steal it first.
Bitcoin is, IMHO, an utter fallacy.
NO-ONE should be protecting it with FDIC funds.

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I read somewhere that it would also give priority on FDIC insurance to idiots who buy bitcoin dickthegrouch Jun 30 #10