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Maybe if transactions (thus fees) do not increase or Bitcoin price dont go up when the block rewards becomes very small. It could mean poorly protected coin, and 51% attacked like some altcoins already
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yes since the 1960's you should always have assumed telephone and mobile communication devices were being listened into. but sinc 2000 (well atleast publicly known 2008) you have to also assume any device mobile or desktop, router or houselight may contain this chip.
I dont believe all devices are infiltrated with some NSA chip, only if your suspected and order something you receive modified device, thats almost certain. |
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Germany 0-2 Scotland Good picks already taken  |
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wtf is this thread even about the OP confused me and replies confused me even more
For better information you need to read post # 1 OP is clearly saying he need something stopped about bitcoin nothing more Something stopped about bitcoins? What? Something stupid about Bitcoins, like You can not buy goods at store without internet using Bitcoin.Not best example, but because physical Bitcoins like from Cassascius exist, it is somehow possible |
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A 51% attack is not just a mining pool getting 51%. If some entity got 51% and mined secretly all past transactions could be wiped out from the block they started mining. It could mean weeks or months of transactions could be wiped out. If someone wiped out the last 6 months of Bitcoin transactions I think that would kill it. The cost analysis that I have seen calculated a price based on buying equipment from vendors. A 51% attack like this would mean the entity would make their own hardware. If they had control of places that manufacture chips that would make a big difference with the cost. I don't think it would happen but it is not completely out of the question.
Satoshi client have checkpoints, (9.3.1rc at block 295.000 I guess) so you cannot publish 6 months old longest blockchain, most Bitcoin clients will simply reject it. Do you have more info on this? Are checkpoints made every so often? If someone had a 51% starting today how long could they go before a checkpoint? I noticed the checkpoints are added in every major version of satoshi client, but even at release the checkpoint is about 1-2 months old from most recent block. |
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You need 5 (or 30) posts here or at altcointalk to get the mBTCs ?
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Finally, what's the correct level of security that Bitcoin needs? A 51% attack would be detrimental, but it wouldn't mean the end of Bitcoin. There are ways to counter and mitigate it, and the worst that would happen is a suspension of transactions until the attack is resolved. So, what's to say that $10M of attack prevention isn't enough? Currently it would cost somewhere in the hundreds of millions, but is that really necessary? I'd be interested to see some analysis in that regard.
A 51% attack is not just a mining pool getting 51%. If some entity got 51% and mined secretly all past transactions could be wiped out from the block they started mining. It could mean weeks or months of transactions could be wiped out. If someone wiped out the last 6 months of Bitcoin transactions I think that would kill it. The cost analysis that I have seen calculated a price based on buying equipment from vendors. A 51% attack like this would mean the entity would make their own hardware. If they had control of places that manufacture chips that would make a big difference with the cost. I don't think it would happen but it is not completely out of the question. Satoshi client have checkpoints, (9.3.1rc at block 295.000 I guess) so you cannot publish 6 months old longest blockchain, most Bitcoin clients will simply reject it. |
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Bitcoin will last and wont die anytime soon
Not nice, btw I heard: 2.0 coins will replace Bitcoin. But still nothing... |
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I don't understand how this could be put into law, bitcoin gambling sites doesn't need any regulations and laws, or some do?
I think Bitcoin is becoming to be seen as a currency, because if money is not at stake, you can host games of chance without problem. |
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Trezors are expensive... for normal expenditures it's not worth the money and effort. Yes, now. Hopefully the competetion get the price down next year(s). I believe only the hardware wallets will make the Bitcoins secure for average users, so nice to see we have first hardware wallet available |
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If I look at adoption and development, I say 2014 is best year for Bitcoin so far. The last year price from sept 4 is increase, but I do not expect the price to rise to over 1k this year, so we will see probably longest price drop so far, but it mean very little to me comparing obvious Bitcoin success so far
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547 for me please
Thank you
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No Bitcoin holder yet has real money by global standards and we are a long way from that. An early miner/ investor with 20,000 coins is a whale -- but in global financial terms is a minnow and will be even when the price is higher.
20,000 coins is about 0,1 % of all Bitcoins. If Bitcoin ever become as popular as gold for saving wealth, 0,1 % seems a lot |
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I feel the FBI auction will bring good attention to Bitcoin if these coins are sold bit over market value. If sold under market value, I do not expect price increase anytime soon
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PM sent |
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While it is true that bitcoin cannot be effectively totally banned, the facts are that if it is legislated against in any way that makes it not worth the time and effort of most of the population, it will become effectively valueless to the remainder because there will be no network effects.
IOW, if you can't use a Bitcoin to buy anything from a "legit" vendor, then the network effects will be such that it's worth under a buck to everyone else. A tiny corner of the financial world, indeed.
I strongly disagree. Let's say I have a business that sells product A. And just like me there are many other businesses but they have more money to invest in PR, etc. Now I do not want to go bankrupt just because my gov said "Bitcoin is illegal". And if my product is welcomed to Bitcoiners then Tor is the way to go about it. I do not go bankrupt and guess what?.... I don't even have to declare TAX! Like I said, black markets will emerge and that is NOT what the governments want. That's why they are trying to find a way to regulate BTC, which will not happen IMO. All right, so you're no different then a drug dealer at that point. Most legitimate businesses don't want to go that route. Nope, he is right, Bitcoin is global payment method and we dont have here one country/government. Thats why you cannot regulate Bitcoin globally |
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Bitcoin has too much shitty reputation in mainstream media, connected to weapon trade, drug trade, contract killers etc. Mainstream media are not objective, cash is used here much more often |
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15RrSutXdg1rYYQJzMTJ2423AuUcY9iD3J
I joining the fun as well
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