If i'm not mistaking this is an android device, so say hello to google's wallet service, you can forget about bitcoin really.
Just because it's built on the Android architecture doesn't mean it's going to be controlled by google. There will probably be a jailbroken version on the way, with apps that the "original" version does not have. Some developers at XDA forums would be the experts on that. Hello, it's not a fail iphone, it's an android device. No need to "jailbreak" anything! |
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6-8 million is for a 51% attack, wich would fuck bitcoin
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Downloading it now. Thanks in advance for removing the only bad part of Bitcoin.
No, that wasn't sarcasm.
Please note that having people running the full client with the full blockchain help making bitcoin safe. |
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I hope everyone is uninstalling, after all this is the end!
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Quickly, everyone uninstall bitcoin and delete wallet.dat!
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Some defragment softwares allow that
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Because Bitcoin rely on ppl having the client with the full blockchain with all the transactions
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They can defeat bitcoin with what, 0.00001% of that 700 billion?
$70,000? What method would you suggest the $70k would be spent on? 0.00001% of 700 billion is 7 million.
Lets take a look at that math: 10% of 700 billion = 70 billion 1% of 700 billion = 7 billion .1% of 700 billion = 700 million .01% of 700 billion = 70 million .001% of 700 billion = 7 million .0001% of 700 billion = 700 thousand .00001% of 700 billion = 70 thousand Nope, I think I had it right. $70,000. You are right Well, as you see with such small numbers it's easy to make a mistake. 0.001% or 0.00001% is not a big difference for who has 700 billions. They can destroy bitcoin very very easily |
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I said billion, not million
0.00001% of 700 billion is 7 million. Wich should be enough for a 51% attack. In doubt take 10 million and that's sure.
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They can defeat bitcoin with what, 0.00001% of that 700 billion?
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You completely negate your own idea in your first post. If you were to buy $10-30 mil of hardware and actually pull off a 51% attack - where would you get your money back from? I mean who's going to buy the coins you were able to double spend? Having attacked the chain and won do you suppose you'd be able to sell your coins and pay for your hardware? Yikes.
You are assuming the attacker is motivated by desire to trade with bitcoins. +1 The global banking cartel that we're challenging has trillions, nay, it's beyond money, it's about global control that they stand to lose with Bitcoin. Their motivation is not stealing bitcoins. Their motivation is destroying the network. +1 |
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Maybe not with 51%
But what if they do have more, like 80 or 90% or more? After all it only take like 10 millions $ to do a 51%, an entity wich has billions can surely spend a bit more and do that.
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Then they would call the four knights of the infocalypse on bitcoin and the public would be "omg let's hope they arrest that bitcoin guy, have you heard for what bitcoin is used?  " |
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Gold is backed by? If you are in the desert and you need water, your gold isn't very useful.
Fiat money can be printed as will, when they want they print some billions, inflation happens, your saving lose value and ta-dah, basically they steal from you
Bitcoin cannot be printed as will. 21 million, no more.
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If you can verify, you can do whatever you want. If you want a million coins just transfer other coins to your own addresses. When the transactions come up for vote, all your machines approve the transactions. If you want to delete coins, transfer them to an invalid address and approve the transactions.
doesn't work that way. 51% doesn't allow you to transfer other people's coins; you still need their signatures. and your avatar tells us what you really are: a troll. Are you sure? The 51% attacker could make a blockchain wich start like from 6 months ago block and build on it, so all transactions happened from like 6 months ago to today would not exist. Ppl who mined that 6 months would see their btc disappear cause someone else (the attacker) actually mined them. |
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With 10 millions $ they can do a 51% attack and fuck bitcoin
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You completely negate your own idea in your first post. If you were to buy $10-30 mil of hardware and actually pull off a 51% attack - where would you get your money back from? I mean who's going to buy the coins you were able to double spend? Having attacked the chain and won do you suppose you'd be able to sell your coins and pay for your hardware? Yikes.
You are assuming the attacker is motivated by desire to trade with bitcoins. No. I'm basing that on the OP implying an attack would only be worthwhile if profitable. He says if he had $10 in his pocket he would spend up to $9.99 to protect it. By the same reasoning no one would spend $10 mil to attack if they weren't going to make more in return. People don't usually spend 99.9% of some value to protect itself. Wrong, he never said that. By the same reasoning no one would spend $10 mil to attack if they weren't going to make more in return No? Not even governments? Banks? Any entity with BILLIONS of $ wich see bitcoin as a danger? If bitcoin succeed that would mean billion of losses for them. Spending 10 million now is much cheaper! |
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Captain Obvious here: for me bit means like byte, in the informatic sense
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