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Author Topic: Bitcoin Hack? &Competitors?  (Read 1558 times)
franky1
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May 09, 2015, 10:02:02 AM
 #21

Trying to build more trust (or credibility) in the currency.

Is it safe to say that Bitcoin is...

Number one of all crypto currencies
Here to stay has a life cycle to last atleast until 2140, then after that who knows
Unstoppable even if only 2 people mined bitcoin and exchanged cash in hand without banks or gateway restrictions. bitcoin will continue
Error-proof so far as thousands of programmers have tested and tried breaking it, it hasnt broke
Double spend impossile bitcoin-bitcoin onchain transactions yes, but as for businesses that rely on MY-SQL offchain tx's.. thats a different story
Hack-proof unless you have enough hashpower to undo previous blocks and catch up to current block
Inflation-proof yes, unless your buying offchain MYSQL database values (fake bitcoins)
(And anything else anyone wants to add to this list)

Also I saw something in the news recently about how the data or something is growing to large and will eventually overload Bitcoin...
its been 6 years and bitcoin is 33 gigabytes, thats because although 1mb blocks have a potential of 52gb a year fill... so you would think bitcoin was 300gb... yet so far most blocks are only 20% or less filled (on average).

even if bitcoin moved to a 20mb block is only a 1 terrabyte a year POTENTIAL fill. these days a 3TB drive (atleast 3 years potential) is available in most shops and in 3 years time even bigger sizes will be available.

its like people complained that the internet wont expand due to 56k modems.. yet ADSL and fibre came along..

all you need to know is right now the blockchain can fit on your finger


I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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