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Joohansson (OP)
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January 10, 2014, 09:43:50 PM |
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Sounds like the bitcoin network is impossible to kill then and will live it´s own life for a very long time; at least as long as there is a need for it. Whoever came up with that original idea must be a pure genious! As long as there is no serious "51% attack" it must mean there is at least 51% good vs. evil in the world  |
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Gabi
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If you want to walk on water, get out of the boat
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January 10, 2014, 10:09:13 PM |
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Bitcoin will be your last problem that day
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mindfulmojo
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January 11, 2014, 12:05:56 AM |
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What would happen to bitcoin if the planet for some astronomically small chance got a world wide power outage for a day? Would the network and block chain survive such crash or would everything get irreversibly messed up?
It would never happen without man going back to the Stone Age. Any catastrophe large enough to take down power on a global scale would also wipe out the majority of mankind. Our planet has never experienced a solar flare strong enough to do it. A nuclear explosion big enough to do it would irradiate the whole earth, and I am not sure that such a device could be built. Global Nuclear war might cause a few problem but if it happened then I doubt if I would be caring if Bitcoin still worked, ditto the eruption of a super volcano. |
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empoweoqwj
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January 11, 2014, 03:14:04 AM |
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Haha great reading =) Anyway, I only meant in a very technical way how bitcoin network works and how much it relies on active online nodes but I think that has been answered, thanks. I totally agree that bitcoin would be least of all worries! I can recommend the movie "Aftermath: Population Zero" http://www.imdb.com/title/tt1264068/. Cool. I'm glad you are balanced and not more worried about bitcoin than "survival"  |
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organofcorti
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Poor impulse control.
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January 11, 2014, 03:47:33 AM |
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The longer the outage, the greater affect on the network. When everyone's nodes fired up again, all they'd notice was a long period of low hashrate (no blocks solved) which would then reduce network difficulty at the next retarget. This could reduce difficulty by up to a maximum of 75%.
tl;dr A long term world wide electricity outage would reduce the network mining difficulty by up to 75% when if the electricity got turned back on.
The world as we know it would end, but network difficulty down 75% - yeah!! I would have no issues in destroying civilization to drop diff 75%! ~BCX~ Uh, I don't mean to offend but given your previous abilities to create altcoin havok, does that mean you're about to do something to reduce difficulty by oooh, about 75%? |
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empoweoqwj
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January 11, 2014, 08:17:02 AM |
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Uh, I don't mean to offend but given your previous abilities to create altcoin havok, does that mean you're about to do something to reduce difficulty by oooh, about 75%?
I don't mess with BTC. It's a great way to get a visit from some really bad people. ~BCX~ Define "mess with" ? |
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organofcorti
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Poor impulse control.
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January 11, 2014, 08:41:07 AM |
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Uh, I don't mean to offend but given your previous abilities to create altcoin havok, does that mean you're about to do something to reduce difficulty by oooh, about 75%?
I don't mess with BTC. It's a great way to get a visit from some really bad people. ~BCX~ You'd have to mess with the world wide grid. Are those people as bad as bad bitcoin people? |
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empoweoqwj
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January 12, 2014, 02:33:32 AM |
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Uh, I don't mean to offend but given your previous abilities to create altcoin havok, does that mean you're about to do something to reduce difficulty by oooh, about 75%?
I don't mess with BTC. It's a great way to get a visit from some really bad people. ~BCX~ You'd have to mess with the world wide grid. Are those people as bad as bad bitcoin people? As far as I know, there are only national grids, not world wide power grids. But I might be wrong  |
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organofcorti
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Activity: 2058
Merit: 1007
Poor impulse control.
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January 12, 2014, 02:46:57 AM |
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Uh, I don't mean to offend but given your previous abilities to create altcoin havok, does that mean you're about to do something to reduce difficulty by oooh, about 75%?
I don't mess with BTC. It's a great way to get a visit from some really bad people. ~BCX~ You'd have to mess with the world wide grid. Are those people as bad as bad bitcoin people? As far as I know, there are only national grids, not world wide power grids. But I might be wrong Ha! Everything is run by the Illuminati, even national power grids. Shows what you know. |
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bennybong
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January 12, 2014, 03:43:26 AM |
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There would be much MUCH bigger things to worry about than bitcoin collapsing if there was a worldwide power outage.
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retrend
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January 12, 2014, 03:52:34 AM |
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Normal banks would obviously be fine in this situation.
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testerx
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January 12, 2014, 06:30:33 AM |
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Pretty sure someone will have backup power for their internet and computers...but if something really was able to disable even that I think we would have worse problems then whether or not our bitcoins worked lol.
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KeyserSozeMC
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January 12, 2014, 06:37:41 AM |
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Pretty sure someone will have backup power for their internet and computers...but if something really was able to disable even that I think we would have worse problems then whether or not our bitcoins worked lol.
That someone should be your ISP, your TSP, You. |
Hey, smexy. Don't waste your time. Time's precious.
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