The entire internet, every computer connected to the internet, every network including all fiat banking would all be vulnerable to a true quantum computer breaking encryption. So yeah if the internet dies then I guess Bitcoin will be in trouble  this is why bitcoin won't be the first target at all, there are many more valuable secured things, to break first, if this thing will ever work |
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i think you people didn't watch the video or didn't read the news.
QUANTUM COMPUTER IS HERE. IT IS NOT A TECHNOLOGY FROM FUTURE. IT IS HAPPENING, IT IS HERE.
And yes, bitcoin is a target. YES IT IS. It has too much value right now.
And 'they' only need ONE (yes just one) quantum computer to destroy bitcoin completely. Not mass production, BUT JUST ONE!
they can only broke ecdsa, if you send bitcoin and not receive only, to not reveal the public key if not mistaken sha256 is immune |
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the prices will be doubled by bitcoin reward halving, as if not so then a lot of miners will quit mining due to ever increasing difficulty and halved earnings.
unless miners are making profit with a huge margin, which is probably the case, because they don't even need to roi on their HW anymore, and the new miners efficiency(s7) can help this alot |
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To keep miners mining for the same fiat payout the "price" merely has to double to keep them happy.
This is what happened with Litecoin.
That is the minimum requirement.
Could more happen?
Sure.
moving from 50 to 25 isn't the same as moving from 25 to 12, while in the first case they have a better margin, and even without a price increase there is profit, with the latter the price should increase much more, because the margin is reduced for example if one miner is earning 2 btc firstly, and he pay 0.5 in electricity, when the halving reduce it to 1, he can still profit 0.5, but from 1 to 0.5, his profit would be 0, uless the efficiency also increase by a x2 factor |
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i would be worried more about the chances of bitcoin to survive, before the quantum pc will ever hit the market on a large scale
it doesn't need to hit the market on large scale... right now bitcoin with its silly marketcap would not be a primarily target of hidden quantum computer, other big targets would be in the list before bitcoin |
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i'm expecting a increase, but not because of the halving, but because everyone else are expecting an increase also
how much the new price will be stable, is yet to be revealed, and this is more important than a new ATH
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i would be worried more about the chances of bitcoin to survive, before the quantum pc will ever hit the market on a large scale
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what about the market section, maybe you can find someone from your zone
the market section is awesome, i don't know why everyone dismiss it
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i would say yes. reason being that after the halving happens next year, the supply should decrease quite significantly and your btc would be worth alot more than it is today (~240usd).
That's a common misconception. The supply is currently increasing at a rate of about 10% per year. After the halving next year, the supply will continue to increase at the rate of about 5% per year. this would be not important anymore in two halving, becase the remaining amount of coins would be not significant anymore and to reverse the same numbers of coins in the market as today, miners would need to dump for decades i would invest in 1 btc if this is what you want OP, at best you could lose 240, but the gain if everything will be right, is enormous |
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Knowledge is power, Online jobs are pretty the same as real jobs on the outside world. More stuff you know, more chances to earn more money.
not exactly the same, the big difference is that with online job, there is more volatility if the payment/profit are high, see trading/pro poker, or the salary is very low in the opposite case while in RL the income is much stable and reliable |
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Investing in mining data centers (mining farm) is much better that investing in bitcoins.
This just stuck you there, the amount stays the same, so you are just waiting for a jump.
Having your own mining farm, means you have a team and you are earning continually bitcoins.
But these days you'd need a lot of capital to get started and you're up against some massively well funded organisations with access to facilities, tech and infrastructure most can only dream of. My suggestion above was to invest a high amount of money (~1million) So instead of investing in bitcoins (buying it) you already are stucked there and you are waiting for a higher price to get profit. A good alternative is investing that money in mining farm and you will get i think a higher profit, but it depends from the country,electricity etc.. you're suggestion doe snot make sense, with 1M you could already retire, there is no point in investing anymore, unless i know that i would get out form this shit(not form bitcoin from investing...) or i would buy 1M in bitcoin and use it directly, you don't even need to wait for a better price afaik you both are off topic as OP meant to ask about retirement statistics if any in bitcoin world. however there is no legitimate , proper answer for that as the value of crypto's is far more variable when compared to fiat's one thing the op can do is calculate the average he need in fiat's and convert it in btc, 3 million $ todays wealth is enough for Rment...so around 12000 coins. what off topic about my post? you're repeating what i've said, which is converting your need from fiat in bitcoin to know how many btc you need for retirement 1M in most of the cases is enough, so around 4k coins |
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just hold it and wait 10 years. that is probably a better choice than buying gold. by the way: in the meantime you can study it further  i would rather buying real bitcoin made from gold than holding a bitcoin for 10 years , because the rate of gold always increase are you sure about this, gold peak is long gone since age, the current price is a shadow of it, i doubt the price of gold is always up it's stagnation at its finest |
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sounds like the old 51% attack theory. too expensive.
as qwk says above, the fact that there is hard code protecting against this tells me that any sort of attack like this could be defused by some coding. like certain malware attacks and vulnerabilities found in security systems. devs go in and fix the code on their side to kill it.
sorry, I'm no tech guy, but that's the "for dummies" version as i understand it. am i completely wrong here?
Basically, you're absolutely right. To sum it up: there's zero potential for a meaningful successful attack on the Bitcoin network based on the scenario of the OP. 1) It's not too expensive if you are a large agency. If the goal is to destroy bitcoin because of its potential future value, then this may be an efficient attack. The meaning of the attack is to prove that the blockchain is malleable and reduce its standing as a stable useful currency. 2) Once devs have to modify code in the core client to make a decision (no matter how clear it is that one party is "good" and the other is "evil"), we have centralized and given the power to choose which chain dominates to the devs. qwk thank you for the link, checkpoint blocks are an interesting concept why destroying something by wasting tons of money, instead of just taxing it and gain something big on top of it? it does not make sense and anyway every gov is different, some are promoting it, some don't care and a very few of them are against it and anyway with a 515% you cna only destroy its value |
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So if amaclin makes these 100 lines of code public, Bitcoin will die?
no, this is only a pesky attack, it will not broke nothing More than anything i like people that says the truth even in the faces of strong oppositions.
If i may ask, why did you do it? and what do you intend to achieve? I want to tell you that bitcoin is too weak for you lifetime savings So, what is strong enough for my lifetime savings? i can guess... bank? but that would be hilarious, unless he is working there and want to destroy the little hype arond bitcoin |
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i think they know that the difference between a private blockchain and their scam is basically zero
they are going toward that way because of low cost and faster transaction, and a better organized ledger
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it may be possible in the future(very far away future) if something new emerge from the scienze or universe, for example the dark matter is still unknown, you don't know its interaction with something else
still collisions are far away from being impossible, so who know maybe it could happen one day
That's a silly thing to write. The odds of an address collision are less than the odds of two people selecting the same molecule of water. still so far away from being impossible, not even funny, it does not matter how hard or how unbelievable low are the odds, if it is not impossible it's possible It's silly because every probability is far away from being impossible, and because a collision is so unlikely that it is not worth even considering. only because we don't live forever(i mean the human genre, not us as a single individual), otherwise at one point there will be a way to make it possible the real problem is not only collision, but is a right collision with a key that have tons of bitcoin |
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I heard many mixer services will make our transactions untraceable by using different bitcoin addresses. very much useful services.
yeah sure, but the owner know your movements anyway, so they are not really that untraceable, unless only you know about it i was thinking that someone should run his own mixer, if he want to stay more anon |
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Most secure wallet is blockchain.info. They encrypt everything in our browser and they store nothing as raw data.
ehm i beg to differe, the most secure is a local client like core, ina dedicated enviroment, isolated network and desktop used exclusively for that |
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Is it even possible to make a living by selling bitcoins?
yes it is possible if you can sell 20 bitcoins per month but the question is how you can get them? why 20, 1 btc is 240, with 4 btc you can already have a decent life, if you can afford those every month 3 antminers s7 can do(almost) this if electricity is 0 The hard part is where are people getting these places with 0 electricity costs. I do not understand it as most landlords if it's included would not be happy if your bills had multi-hundred more then past tenets in electricity. Only places I have that did not measure were student housing. And they were pretty expensive really. Great housing but not cheap and not a lot of power to play around with. yeah, was an ideal scenario, but he can add two more antminer s7 to overcome the electricity cost, if it is around 0.05, otherwise better forget tohe mining and go with job--->exchange fiat to bitcoin |
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