fall into the BurtW says never, jutusranvier says maybe with QC category.
I say "probably never." |
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QC will not help you go from Bitcoin address to public key at all. Grover's algorithm helps some, but currently isn't enough. Currently-unknown weaknesses in SHA and/or RIPEMD might close the gap someday. On the other hand, invalid scripts will always be invalid. |
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No, it won't.
Do we know for certain that Bitcoin's address hash function will never be susceptible to GPQC? |
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A general purpose quantum computer might someday find a private key whose public key corresponds to that address. |
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increasing the block reward a little bit No. |
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If they're the wealthiest generation ever, then why are the debt-laden 20 and 30 somethings financing their retirements via unsustainable social security and medicare programs? And why would they willingly elect representatives who back these programs? Seems to be against their own self interests. Great questions. Coincidently, isn't it amazing how the age groups which the current system is financially raping are are also the age groups at the forefront of Bitcoin adoption? http://www.pewsocialtrends.org/2011/11/07/the-rising-age-gap-in-economic-well-being/ |
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In that case, median net wealth for US adults is only ~$38,000 USD. Which I actually find surprisingly high. That median is composed of the under 40 crowd who largely have negative net worth, and the over 50 crowd who compose the richest generation to ever walk the face of the earth and whose assets (stocks and house prices) are being propped up via money printing. |
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Seems a bit of stretch to try to apply political motivations to a technical issue. It's also a stretch to propose that it's even technically possible at all to force miners to include transactions into blocks. |
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Ripple is the financial establishment's bait-and-switch ploy.
Ripple provides an improvement over the status quo in terms of technology without any inconvenient features like privacy or individual autonomy. They'll throw money at Ripple in order to make it shiny and user friendly as a way of keeping the masses from leaving their pens.
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I'm worried by one thing: Volume is approx. at an all time YTD low. Why? Can this affect the imminent moon launch?
vol is fine, vol is more spread out than ever b4 with new exchanges coming online and stuff.. Anyone who cares about accurate volume stats should be using data.bitcoinity.org: http://data.bitcoinity.org/markets/volume/5y?r=week&t=a&volume_unit=btc |
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The miners and the pools are under no obligation to include any transactions. They can, if they wish, and some pools and miners have n the past, just mine empty blocks. They can cherry pick which transaction they want to include - that is their right. They can include only transactions that have a profitable fee and drop all other transactions. They can, if they feel like it, included a certain number of free transactions. Luckily for "freeloaders" most of the larger pools will include a certain number of free transactions in each block they mine. I think this is one of the flaws of Bitcoin. There are indeed a large number of people who believe that the lack of ability to force other people to do thing is a flaw. The reason Bitcoin is prospering so well is because they are wrong. |
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I would recommend you to look at better investment opportunities.
In my idea, the best way would be to invest in yourself. Obtain a needed skill, save up and start your own company. It isn't as easy as buying bitcoins, but it's A LOT more certain and you can have more control of your own wealth.
Because... what good is having control of bitcoin units, if you can't control the unit value? If you can't control bitcoin unit value, then you still can't control your wealth. With holding bitcoins, your wealth is just as much or even more out of your control, then holding your money in the bank. If you want to buy a commodity as an investment and stay in control, then buy something that's value isn't highly speculative. (golds value for instance is also highly speculative) http://nakamotoinstitute.org/mempool/the-correct-strategy-of-bitcoin-entrepreneurship/ |
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I am compiling a list of resources for a person that is totally not up to date and does not get Bitcoin/Crypto currency
The person has a finance background, and a legal background- the person is not technically minded
I have list of resources , videos, text, articles and good places to get key data.
has anyone any works they suggest may be suitable for this gentleman to read ? (I get the feeling he is more of a reader than a video watcher, plus I have some good videos already- though if you have any amazing links please do share)
I am almost ready to send what I have, but just thought I would ask here if anyone has any good primers to add to my list or rather than me writing it all out again.
The gentleman is a man with very deep pockets and a group of investors, I have meetings planned with the person in question to discuss starting
a Crypto/Bitcoin relegated company here in the UK -
I am looking for good text primers for a person new to crypto but that has a good finance background, not too basic, not too full on have you any suggestions that I can add to my ever growing list ? I do not want to send him everything, I am looking to cherry pick.
Already had one meeting with the chap in question, and before the next one I would like him to do some reading, so he knows more about where
his money is going to be going, before the next rounds of meetings- as the guy is pretty much a crypto newbie.
Thank you in advance. http://bitcoinism.liberty.me/2014/06/20/cash-and-credit-in-a-cryptocurrency-economy-part-1/http://bitcoinism.liberty.me/2014/06/26/cash-and-credit-in-a-cryptocurrency-economy-part-2/I'd also link part 3 but it's still being written. |
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Speaking of feedback control theory, it's too bad Satoshi didn't have more experience in that area. If he'd ever tuned a PID controller, then maybe the difficulty formula would have included both a P and an I term. Not that 8 minutes block intervals are necessarily a bad thing, of course. |
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I worry that 60% of hash power is in the hands of only two ...
Could be hacked and you lose all your money...
Can you explain the sequence of events between those two mining pools getting hacked and all bitcoin users losing their coins? |
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The reason is because money (or bitcoin, or gold) is not real wealth, it is only a token that society will accept and exchange for real wealth. The exchange is so smooth and universal that, for personal or corporate finances, it is justifiable to treat money the same as wealth. But when considering a whole nation, or the world, one must ignore the money and focus only on the real wealth. True. No matter how much money the government creates of derstroys, confiscates or gives away, the real weath of the country will not change. Fiddling with the finacial system, the currency, and the money supply can only change the distribution of wealth among the citizens Tragically, myopically, false. Wealth is not a static thing - it's a continually produced and consumed on a daily basis. The amount of wealth that is destroyed, or more accurately: never created, by bad policy decisions is vast. It's just not always obvious. |
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20 years from now there will be no USD or USA.
Lol. Thankfully this is virtually impossible. But if you were right, I suppose you have no idea the sorts of war and chaos you are predicting. USD could be greatly diminished, but sensible folks should hope this is a gentle transition. As to the US being gone. Woof. That's just reckless and blind. What did anything you said have to do with whether or not my statement is true or false? Are one of those superstitious people who believes that if we don't talk about bad things they won't happen? The USA is following the same historical trajectory as the USSR. Absent some rational explanation of why the same actions that have lead to a failed state in every other historical example will not have the same result here, I conclude that the USA will share the same fate. I'd call your "I don't like that conclusion therefore it's not true" rebuttal childish, however that's insulting to children. |
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