And still we always ask why people don't want to use Bitcoin. There's too many negative news compared to the positive news to bitcoin. And it's easily to be hacked compared to flat paper based money  I think we need to beef up the security here  Unless, this is just another mt gox cases  OOOH really? I'd love to see the proof of someone hacking bitcoin to find a list of private keys with large amounts of BTC. |
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There was a thread about this I believe but I cannot find it, does anyone know what it is called?
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I believe there was a thread like this, does anyone know it's name?
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The problem is you have a population which from birth is spoon-fed information from controlled sources and questions nothing while blindly accepting what they see on television as truth. A good portion of those with above-average intelligence seldom rock the boat and again, accept what they are taught and told as truth. Religion is a great tool for keeping the sheep in place, if you can get someone to buy-into the idea of Christianity in 2015, then odds are they'll buy into anything those in authority or the media tells them. Most Americans really could care less what goes on as long as they can maintain living their lives keeping-up with the latest on social media, driving their new cars/suv's, and watching their favorite reality or crime shows - all the while going to their 9-5 jobs earning a pittance and in reality, not actually owning anything. This... unfortunatly. When my friends go on about how they can't believe I don't know the entire NFL line up...I want to just lose my shit. HOWEVER TO SAY AMERICANS is WILDLY WILDLY WILDLY UNFAIR! This is for ALL western countires, all of them. Merica, Canada, all of Euro, Australia, New Zeland, etc. |
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As I have been saying the rates will not go above 1% until the USD does not exist. |
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IMO it is not possible to put a cost on it because one you start to buy or rent such a large number the cost to buy or rent will SKYROCKET. Furthermore if people find out what your plans are with the machine they are renting be prepared to watch those machines disapear. For the purpose of this answer just assume:
- It does NOT matter that price will rise - please TOTALLY ignore this
- you buy/rent your hardware outside the netwok
- Absolutely no further speculation/estimation on how the network would respond, what core devs would do or not do or whatever, just a calculationThe you really don't want to know the chances of a 51%.. |
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IMO it is not possible to put a cost on it because one you start to buy or rent such a large number the cost to buy or rent will SKYROCKET. Furthermore if people find out what your plans are with the machine they are renting be prepared to watch those machines disapear.
IMO the second those rented machines attempted a 51% attack they'd be shutdown. Wouldn't even be suprised if that was a clause one agrees to when renting.
It's kind of like buyin 1 million bitcoins, at the current price it would cost 230 mill however after you started attempting this the price would start skyrocketing. The actual cost of getting 1 million BTC is unknown.
Sorry to be a doucher I didn't get your question at first.
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21 if you don't have 5 mintues to read that be ready to get owned at life.
Do I have to if someone can simplify it for me? And I have some ADD to take care of, you'll find out how difficult it is reading when you have it. Apparently I have add... so did every kid in my class... LMAO now that are the simplifies text I'm talking about, no offense danny. I don't buy excuses. Give my summery a read. |
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Hummz seems I should of bought and sold LOL.
Current opinions?
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21 if you don't have 5 mintues to read that be ready to get owned at life.
Do I have to if someone can simplify it for me? And I have some ADD to take care of, you'll find out how difficult it is reading when you have it. Apparently I have add... so did every kid in my class... Anyways, basically the ONLY way to compete with the bitcoin network is with ASIC's. Application specific intergrated circuits. If it isn't built for the purpose of hashing it's hashing ability will be a joke. Even that NSA facility buddy thinks could take down bitcoin, it wouldn't even register on the network if it started hashing. Buying the ASIC's to do this is almost impossible as the price of the ASIC's would skyrocket as they were sold. One threat is some govs team up, make their own ASIC and use them to decimate the bitcoin network. I have large doubts about their ability to pull that off. It's also probably going to piss tax payers off the govs decided to use their money to decimate bitcoin just because. |
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LMAO, just no, that's all you get. |
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Simple math. Btc price was 115 in August/September of 2013. It's 230 in August/September 2015. I proclaim we will see 460 in August/September of 2017.
Wait.. wat.. Did someone buy this account?!?! |
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21 if you don't have 5 mintues to read that be ready to get owned at life.
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Hi folks,
i would like to find a measure for how the secure network is at a certain point of time. My dream would be that there is a blockchain.info like site that calculates once a day or so how much it would cost in $/btc to rent the needed hashing power from lets say amazon aws to perform the attack. Of course it should assume that the attacker is smart and chooses the least costly option to achieve 51%.
If there isn't something like i think it would be really cool for the bitcoin-community to have a comprehensive one number measure of security. It would help in discussions about blocksize and future discussions about network security, number of nodes, the whole Fee-market debate a LOT if one would have this chart.
Because besides talk about new cool services and the ever question of who satoshi is and the price of bitcoin the rest of the discussion are a very high percentage: network security, blocksize, number of nodes, mining profitability etc. And all those would be easiert to talk about if there was such a measure...
If there isn't such a site, i would still be interested in how the number is for todays network.
................ Even if you took all of the computing power of the ENTIRE FUCKING PLANET you wouldn't hit 1% of the hashing rate. ASCI >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> super computers >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>everything else. One would have to make or buy ASIC's to attack the network. |
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If the return to $1000 is all you are looking for why are you bothering with bitcoin.
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That's an interesting comment about something that went from 0 to become the world's most valuable currency, in only 4 years
Indeed it is eh, funny how people never mentioned the fact it exploded in value. |
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