Bitcoin Forum
September 21, 2020, 07:39:48 AM *
News: Latest Bitcoin Core release: 0.20.0 [Torrent]
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Other / Beginners & Help / What bank accept Bitcoin? on: January 31, 2018, 02:52:37 PM
What I know is that with Bitcoin, you own your own online bank at blockchain, If I accept payments with bitcoin or earned bitcoins from one of my invesment programs that means i will  be able to send my bitcoins to a bank account to get FIAT currency without using an exchange?
2  Economy / Economics / When will Apple accept bitcoins? on: January 31, 2018, 09:19:33 AM
When they really need to. But they'll fight it hard! Apple's business model is to lock everything down -- very closed indeed. This does not align with the goals of bitcoin, at least, how I perceive them.

tl;dr Apple = closed. BTC = open.
3  Bitcoin / Bitcoin Discussion / What Is Bitcoin and What Can I Do With It? on: January 29, 2018, 02:02:18 PM
Hello everyone,
Everywhere I go, I see Bitcoin popping up more and more. Many web services accept payments in the form of Bitcoin, and some even sell their homes for the stuff. I know it's a digital currency, but where does it come from and how is its value determined? More importantly, should I bother earning it and using it for any reason?
4  Other / Beginners & Help / How can Bitcoin be hacked? on: January 29, 2018, 12:47:10 AM
How can Bitcoin be hacked?
How could a malicious entity either hack the Bitcoin network by stealing BTCs or shock it to death, triggering panic and drops in BTC value?
5  Economy / Trading Discussion / BTC VS The Cryptosphere on: January 26, 2018, 11:29:42 PM
BTC goes green, all alts go red.

BTC retracts a tiny bit, all Alts go Green.

So the question at hand, is where is BTC's bottom.

A smart trade now, if you want to be a trader, would be to pour back into BTC until it's next nice green day, then pour that into alts.
6  Bitcoin / Bitcoin Discussion / Is Bitcoin the Death of Fiat Currency? on: January 26, 2018, 04:51:29 AM
Bitcoin is not competing with Visa or MasterCard. Bitcoin is competing with the Federal Reserve and the U.S. dollar," says Michael Goldstein, president of the Satoshi Nakamoto Institute and host of the Noded Bitcoin Podcast. His co-host and the institute's treasurer, Pierre Rochard, talk with Nick Gillespie about the meteoric rise of bitcoin, how it can become a viable currency despite volatility, and how it may well spell doom for central banks and the gods of Keynesianism.
The Satoshi Nakamoto Institute is a group devoted to promoting bitcoin and working through many of the theoretical and practical challenges for the world's best-known cryptocurrency. It's named after Satoshi Nakamoto, the pseudonym of a programmer or programmers who launched bitcoin in 2009, in what Nakamoto called "a peer-to-peer electronic cash system."
Bitcoin potentially offers at least two radical things to its users. First is a non-state-based currency, and second is a fully peer-to-peer accounting system in which every actor can verify all transactions virtually instantaneously. The program resides on the computers and servers of its users, decentralized in a manner straight out of a science fiction novel. Inspired by Milton Friedman's and other economists' theories of a noninflationary currency, there is a fixed number of bitcoin that will be mined out over time into computer space, thus limiting the ability of people to inflate or deflate its value, at least in theory. Having said that, bitcoin is in the news now because of its massive spike in cost. Once trading at pennies, it recently neared $20,000 per bitcoin.
Whatever its price, Goldstein and Rochard say that bitcoin is here to stay and that what they call "hyper-bitcoinization" is already well underway.
7  Bitcoin / Bitcoin Discussion / Bitcoin Dissertation Topics on: January 23, 2018, 01:01:48 AM
Cryptocurrencies, in particular bitcoin, are continuing to rise in popularity and value. The total value of all Bitcoins currently in existence is now more than £112billion. There are therefore many aspects of bitcoin that can be formulated into successful dissertation topics. We have created 8 dissertation topics that are original and exciting, yet manageable, so if you fancy tackling the subject of bitcoin for your dissertation feel free to opt for one of these topics.

1. Hash collision attacks on the bitcoin protocol.
The proof of work procedure within the bitcoin protocol is implemented as a hash grinding process – a hash function is started from a random data string and evaluated repeatedly until the prescribed number of bits matches the pre-determined target. This procedure essentially relies on the hash function being resistant to collision attacks. In recent years, significant progress was made with such attacks, and it is conceivable that a sufficiently resourceful individual would find a practical collision attack on SHA. Obviously it would not be published, but would it spell the end of bitcoin? This project will find out.

2. Limitations of bitcoin mining hardware – what happens after ASICs?
In the early days the bitcoin mining process (repeated hash function evaluation) was run on CPUs. The fairly compact nature of the SHA hashing function then allowed the process to be ported to massively parallel GPU architectures, with ATI cards being particularly powerful. From there, the community moved on FPGAs, and eventually custom silicon arrived – application specific integrated circuits (ASICs). Current bitcoin mining hardware is optimised to a squeak. There not much else can be done there, apart from process shrinkage and electrical efficiency improvements. This project will explore the territory beyond ASICs.

3. Factorisation attacks on the bitcoin protocol.
The sheer number of bugs recently discovered in RSA key pair generation hardware and software suggests that not all bitcoin account numbers (essentially public keys used to verify blockchain messages) are secure to factorisation. At that point, the obstacles become economic – given current price of the unit of computing power, is a particular wallet worth cracking? This project will explore the economic side of factorisation attacks on the bitcoin protocol and suggest ways of securing wallets in the economic (rather than mathematical) sense by making it unprofitable, rather than impossible, to attack.

4. Is bitcoin a carefully designed bubble?
The macroeconomic parameters of the bitcoin protocol (the fixed total number of bitcoins, the adaptive proof of work difficulty level, the exponential reduction in the mining returns) appear to be designed to make it exponentially harder to mine bitcoins and therefore to drive their value exponentially up. Satoshi Nakamoto must have understood that when he was designing bitcoin. At the moment, the protocol remains robust (even if rather slow) and it is not inconceivable that it will keep going. This project will do the economic modelling.

5. Denial of service attacks on the bitcoin protocol.
Bitcoin relies in the central ledger – the blockchain – that is synchronised between millions of client and miner computers. The evolution of the blockchain is determined by consensus – the version agreed upon by 51% of the miners is the current version. This is a potential vulnerability: in the event of prolonged network fragmentation, two versions of the blockchain can diverge significantly, with financial transactions being acted out in real life. If the networks are then reconnected, the community would be faced with a disruptive need to abandon one of the branches. This project will examine the implications.

6. “51% attacks” on the bitcoin protocol.
The process of mining bitcoins relies on computationally intensive tasks that are, according to current civilian mathematics, impossible to avoid. It is, however, entirely possible that a technologically advanced individual or an organisation would be able to find a vastly more efficient algorithm for solving the same class of problems – discovering a collision attack on SHA, for example, would be sufficient. Such an organisation could then command more than 51% of the bitcoin community hashing power, which would give it the right of veto on any blockchain transaction. This project will explore the implications.

7. How to make cryptocurrencies less volatile?
Bitcoin is notoriously easy to steal – just a string of alphanumeric characters (encoding the private RSA key) gives an individual complete control over the account attached to that key. Those strings are very easy to steal, and stolen they have been – many times, involving sums in the hundreds of millions of pounds at the current exchange rates. The situation got so bad that bitcoin exchanges had to put special measures in place to prevent their own staff from stealing their bitcoins. This project will examine possible ways of making cryptocurrencies harder to steal.

8. Is bitcoin the future of interplanetary trade?
Terrestrial gold is useless on Mars – the cost of lifting a kilogram of gold from the Earth’s gravity well, propelling it all the way to Mars and landing it safely exceeds the cost of that kilogram of gold. Almost any terrestrial goods or services are thus worthless to a Martian because they cannot be transported. This raises the interesting question of how to set up interplanetary currencies that must, as all currencies, at least theoretically be supported by material goods. One possibility is cryptocurrencies. The trade over vast interplanetary and interstellar distances would be in in formation, and it is only right that an electronic currency should be involved. This project will examine the possibilities
Pages: [1]
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!