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When Bitcoin becomes mainstream let's say in the next five years then people will be searching and looking for it and not being introduced to it. Right now it's quite risky to invest in Bitcoin from the normies point of view since the last crash and bloodbath took place after December 2017 that rekt many people and won't recover until we see some regulations from governments.
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How serious is the threat that quantum computing poses to blockchain technology, and what can be done about it?
The science of quantum physics is being used to build quantum computers–powerful machines that have the ability to solve incredibly complex mathematical equations much more quickly than even the most advanced computers available today.
As such, any data that’s encrypted using mathematical equations–including banking data, intelligence data protected by the government, and encrypted messages on cell phones–is vulnerable to being exposed by quantum computing. Most notably, in this case, encrypted cryptocurrency data–such as private wallet keys–are also vulnerable to quantum computing technology.
Is Bitcoin doomed?
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In my opinion I don't want to compare between the coming halving and the previous ones since Bitcoin back then was a tiny asset and crypto industry as a whole was unknown for community. The next halving will be coinciding to the popularity Bitcoin and crypto has gained so far plus the huge crypto infrastructures and mainstream media that will set fire to the engine of price to skyrocket next year.
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This sucks, I see stories like this all the time on here. He really shouldn’t have been keeping that amount of crypto online though. It should be on paper wallets or a hardware wallet. Sad for him  Yes of course leaving such a huge amount of Bitcoin on the net is totally insane. I hope he and any other whale investors pay attention, because scammers will come back again when bullmarket start to find new victims |
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A Crypto investor Michael Terpin lost roughly 1,5oo bitcoins on January 7, 2018, after falling victim to a SIM swap attack, The Wall Street Journal reported.
The bitcoin stake was worth $24 million that day, roughly three weeks after the asset hit its record high price.
The incredibly precise hack involves thieves taking control of a phone number and using it to access email accounts, bank reserves, and even crypto wallets.
Visit the Business Insider homepage for more stories.
One crypto investor lost bitcoin worth as much as $24 million after falling victim to a new kind of hack known as SIM swapping, The Wall Street Journal reported.
Michael Terpin was hit by the attack on January 7, 2018, days after bitcoin reached its record high price. Thieves stole roughly 1,500 bitcoins by taking control of his phone number and using Google's "Forgot password?" feature to gain access to his email. With possession of the two personal accounts, the thieves hacked Terpin's crypto wallet, stole the digital assets and quickly sold them, according to WSJ.
Bitcoin traded between $16,969 and $15,790 per coin on January 7, 2018. The digital coin now trades at roughly $8,700.
Source:
Wall Street journal
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In the year 2130 all of the Bitcoins will have been mined and the only reward at this point is transaction fees,if most people are using Bitcoin just as a store of wealth, then there are very few transactions, which means there is very little reward for mining and so a lot of computers would pull out of the Bitcoin network. Would this be a problem? If large Bitcoin transactions occured sparingly in 2130 and beyond, would the Bitcoin concept still work?
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the cryptocurrency is not only extremely expensive in terms of its mining costs, but also inefficient in its long-run design. However, the efficiency of the Bitcoin system can be significantly improved by optimizing the rate of coin creation and minimizing transaction fees. Another potential improvement is to eliminate inefficient mining activities by changing the consensus protocol altogether. So there is the possibility of replacing PoW by a proof-of-stake (PoS) protocol which can strictly dominate
PoW and even support immediate and final settlement. There are many fundamental issues of a PoS protocol still need to be sorted out and remains much to be learned about the economic potential and the efficient, economic design of blockchain technology.
Proof of Stake is Superior to Proof of Work. You have a lot of bitcoin fanatics in here, that are too blind to see that. As far as PoS issues, @NAS, has proven to be a line of horseshit from GMaxwell. The only real issue was not a PoS issue , but the fact most PoS coins have too high an inflation rate. Some PoW coins like mooncoin and newyork coin also had too high inflation rates. Which coins like ZEIT has solved by moving to an ultra low inflation rate of .0005% yearly and a burning of transaction fees. Bitcoin issues that will never be solved using PoW Energy Waste will continue to worsen Transaction fees will increase or the network will collapse Government approval will be required for the miners to host massive electrical draining warehouses Bitcoin Mining Control will continue Centralized to the Top Mining Pool Operators your approach is highly important about Bitcoin adopting POS for more scaling but the issue here is how to convince what you have described Bitcoin fanatics or maximalists to change their mind and become more flexible towards the development of bitcoin. |
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the cryptocurrency is not only extremely expensive in terms of its mining costs, but also inefficient in its long-run design.
Mining cost you say, remember when it would cost you nothing to mine bitcoin? Now it costs so much, what does that tell you, that's indeed growth, development, improvement, it shows you it's no longer some valueless shitcoin you simply mine with your ordinary computer. Bitcoin is more than efficient in the long run, if you trace it's growth from 2009 till now, you may then want to edit that part of your post. I appreciate your opinion, but I think Bitcoin has to wait until we see the outcome of Ethereum 2.0 when it becomes POS in the next few months. |
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the cryptocurrency is not only extremely expensive in terms of its mining costs, but also inefficient in its long-run design. However, the efficiency of the Bitcoin system can be significantly improved by optimizing the rate of coin creation and minimizing transaction fees. Another potential improvement is to eliminate inefficient mining activities by changing the consensus protocol altogether. So there is the possibility of replacing PoW by a proof-of-stake (PoS) protocol which can strictly dominate
PoW and even support immediate and final settlement. There are many fundamental issues of a PoS protocol still need to be sorted out and remains much to be learned about the economic potential and the efficient, economic design of blockchain technology.
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Edward Snowden the former CIA agent twitted recently the famous Asuka picture which is highly used in some crypto community spaces to shill Bitcoin. I think these intelligent agencies have something to do with Bitcoin creation.
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Thank you for your chart. Personally, do not agree with your interpretation of Elliott Wave. —From 2010 to 2017, there have been 3 primary trends in Bitcoin: 2 rising, 1 declining. —From 2010 to 2019, there have been 5 primary trends in Bitcoin: 3 rising, 2 declining. The declines are apparent on any momentum indicator such as the RSI, being oversold on a weekly timeframe, with sub 30 readings...  Thank you I appreciate your efforts to explain the cycles Bitcoin went through the whole decade. |
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Hi, I'm a big fan of Elliott waves and I just wonder if the last crash from 19800$ to 3180$ was wave 2 ABC correction of wave one that started in 23 May 2016 and peaked in 2017 December. Now according to my theory the wave 3 has already started in 17 December 2018 and will peak at around 300k mid 2021. I hope Elliott waves experts here have a look at my opinion.
It's difficult to comment without seeing your wave count. Could you show us a chart? From the December 2018 low, the OP's preferred count puts us in a Primary Wave 5, not Wave 3. See here: https://bitcointalk.org/index.php?topic=5128394.msg52880531#msg52880531Ok this is my chart. I counted since btc was 1$ then 5 waves ended with their ABC correction and consolidation mid 2016 https://i.ibb.co/FmZ9rw6/Screenshot-20191109-094930.png |
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Hi, I'm a big fan of Elliott waves and I just wonder if the last crash from 19800$ to 3180$ was wave 2 ABC correction of wave one that started in 23 May 2016 and peaked in 2017 December. Now according to my theory the wave 3 has already started in 17 December 2018 and will peak at around 300k mid 2021. I hope Elliott waves experts here have a look at my opinion.
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I am also waiting for the price to reach 56k. I have been patiently holding my Bitcoin because I know it will happen. But, I am not gonna listen to these Jokers, who have been shouting about the price from 2017.
We all know it will happen, what we do not know when will it happen. When it happens we will all know. Therefore no point in listening to these famous Jokers 😜😄
No body knows how low btc gonna fall when all stock markets crash likely end of next year or in 2021. It can crash to 1000$ in the next recession then will pump hard to skyrocket once investors trust it and consider it as a safe haven asset
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As you can see, the famous Asuka has missed $16k per 1 Bitcoin in Octber 2019 but it can happen soon , maybe this end of year. However, I just want to point out that her $8750k may not be a typo instead of $ 87500 k because I believe that Bitcoin still has one more impulsive wave which can reach $56k according to asuka next July 2020, then the ABC correction of the whole 5 waves that lasted 11 years sending Bitcoin below $10k or more less. Any thoughts??
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An interesting step towards finding solutions for Sweden housing
Since people there have experienced a huge spike in the number of immigrants who affected the housing system. For this reason immigrants, along with others who cannot afford to buy condominiums, are struggling to find affordable accommodation.
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Proof of authentication
Bitcointalk Username: Johnii
Telegram Username: @amintet
Twitter Username: @Connecteth
Facebook Link : I don't have
TTN Wallet Address : later
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