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BigFish
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Economics & Risk Mgmt background. In it for the future I want to live in. --> Relay: https://nostr.hifish.org

I don't think that pplication security/encryption is the issue. Rather the phone is comprimised by design (Google, Apple specific hardware and software) that allows for reading data before app encryption and decryption.

Once these "backdoors" exists, it is just a matter of time until government agencies gain access to it in some fashion.

Hence, US (home to Google and Apple and other systemic IT companies for that matter) does not seem too worried by end-to-end encryption, but other goverment are.

Replying to Avatar DaddyJones

😬😬..πŸ˜„πŸ˜„

πŸ˜„πŸ˜„.. The difficult trade-off.

Don't want to be short btc but still need to live.

Yes, makes sense. But you could also say that in such a case it's not enough different (10x) or the problem it tries to solve is not really a problem, hence people don't move to it/buy it.

Just think about smartphones or cars. No real innovation for years in the basics (transportation, communication). The incremental changes are marketed as innovation (e.g. Iphones).

I think network effects and hesitation to change (lack of understation, reputation, fear) plays a role. Can't recall who said it, but essentially a new product must be at least 10x better than existing solutions.

I would assume this is easier to asses in physical day-to-day things (e.g. car over horse, oil over coal etc.) but more difficult with abstract technologies such as money, software.

That's why imo true innovation (which is >10x better) has a hockey stick moment but can have a slow phase of adoption before.

I suppose that, in the case of #bitcoin or also #Nostr, the value is not yet recognized/understood by most, and as such it's not seend as exceeding the 10x threshold yet.

Just a thought.