egyproductions (OP)
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June 11, 2015, 01:15:43 PM |
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No.
But here is some food for thought.
What if there was a global black out, some how... wouldn't bitcoin be vulnerable to someone with solar powered computer and internet access?- (an engineered global black out just in case you were going to say that there wouldn't be internet access"
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Xialla
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June 11, 2015, 01:21:55 PM |
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global black out? can you please tell us, what you mean by this term? I never heard about it before...
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Gervais
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June 11, 2015, 01:27:53 PM |
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global black out? can you please tell us, what you mean by this term? I never heard about it before...
Do you know what a black out is? Well one of them on a global scale. I.e no electricity. It's a bit post-apolitical to be honest and if that did happen bitcoin would be the least of my worries. |
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AtheistAKASaneBrain
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June 11, 2015, 01:28:49 PM |
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What is a "solar powered computer"?
Solar is just a source of energy. At the end of the day the computer or series o computers are going to need to be more powerful than 51%+ of all existing computers within th Bitcoin network, which is nonsense, because at that point it would be more beneficial to be a good actor than a bad actor, thats why Bitcoin is indeed invulnerable.
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WhatTheGox
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June 11, 2015, 01:34:15 PM |
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No.
But here is some food for thought.
What if there was a global black out, some how... wouldn't bitcoin be vulnerable to someone with solar powered computer and internet access?- (an engineered global black out just in case you were going to say that there wouldn't be internet access"
Even without bitcoin we are mostly reliant on digital age now. If stuff gets hacked or goes down there will be big changes and power shifts in the world. Maybe if bitcoin becomes very popular perhaps the elites in power now will stage some type of blackout and send themselves 50% of bitcoin? |
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egyproductions (OP)
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June 11, 2015, 01:38:19 PM |
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No.
But here is some food for thought.
What if there was a global black out, some how... wouldn't bitcoin be vulnerable to someone with solar powered computer and internet access?- (an engineered global black out just in case you were going to say that there wouldn't be internet access"
Even without bitcoin we are mostly reliant on digital age now. If stuff gets hacked or goes down there will be big changes and power shifts in the world. Maybe if bitcoin becomes very popular perhaps the elites in power now will stage some type of blackout and send themselves 50% of bitcoin? you get it |
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daddybios
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June 11, 2015, 01:41:31 PM |
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There is nothing reliable invincible!
The maximum value of the block p2p 32 mb?
What happens if all the people of the earth will move to Bitcoin? All have enough space on the transaction?
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Freedom to Ross Ulbricht!
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Xialla
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June 11, 2015, 02:05:46 PM |
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Do you know what a black out is? Well one of them on a global scale. I.e no electricity. It's a bit post-apolitical to be honest and if that did happen bitcoin would be the least of my worries.
ahh and why is OP asking about BTC is this scenario?...as you mentioned, it would be the least thing to care.. |
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Elwar
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Viva Ut Vivas
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June 11, 2015, 02:15:43 PM |
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There is work to put Bitcoin on satellites.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
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peligro
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June 11, 2015, 02:27:54 PM |
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If there is a global blackout we will have far more things to worry about than see what someone with some solar powered computer is doing to Bitcoin.
Besides once the network gets back it can be easily rolled back.
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pedrog
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June 11, 2015, 02:28:43 PM |
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If there ever happen to occur a global blackout, the less worrying thing would be what happens to the bitcoin network...
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qwk
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Shitcoin Minimalist
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June 11, 2015, 02:35:12 PM
Last edit: June 12, 2015, 12:48:54 PM by qwk |
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Maybe if bitcoin becomes very popular perhaps the elites in power now will stage some type of blackout and send themselves 50% of bitcoin?
You're obviously mistaken about what a 50% attack can do. Sending 50% of bitcoin to themselves is not what the evildoers could achieve by staging a global blackout. Double-spending attacks, well, possible, but there would be no targets to launch them at. There'd simply be no one to accept those double-spends. Receiving 100% of the block rewards for the time of the blackout? Absolutely. That's somewhat less than 4000 BTC per day of the global blackout. 4000 BTC/day in comparison to the huge negative impact on economy during the global blackout? Well, no one said powerful elites were smart. But stupid like that?  edit: typos |
Yeah, well, I'm gonna go build my own blockchain. With blackjack and hookers! In fact forget the blockchain.
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TinEye
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June 11, 2015, 02:38:35 PM |
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No.
But here is some food for thought.
What if there was a global black out, some how... wouldn't bitcoin be vulnerable to someone with solar powered computer and internet access?- (an engineered global black out just in case you were going to say that there wouldn't be internet access"
without internet all transactions will be rejected right? so there should not be any problem about this possible scenario, and what is a engineered global black out? never heard of such thing global black out? can you please tell us, what you mean by this term? I never heard about it before...
he probably means if all the planet remain for a long time without electricity, such scenario seems very unrealistic and almost impossible to me |
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pooya87
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Crypto Swap Exchange
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June 11, 2015, 02:49:01 PM |
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No.
But here is some food for thought.
What if there was a global black out, some how... wouldn't bitcoin be vulnerable to someone with solar powered computer and internet access?- (an engineered global black out just in case you were going to say that there wouldn't be internet access"
this scenario looks science fictiony to me! but in case that happens and somebody or some group of people that has access to power and mine all the blocks and get the rewards. i think two things can happen: 1) everyone, after knowing this, will dump their coins and bitcoin price will fall. 2) since the blocks witch was mined was by a single person or group, maybe there will be a way to ignore all those new blocks and pick up where we left off before the black out.  |
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cryptworld
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June 11, 2015, 03:03:39 PM |
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Only way bitcoin is vulnerable is that internet wouldn't exist,and in that case,you can pray for us
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gustav
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June 11, 2015, 06:48:51 PM |
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Bitcoin is more and more vulnerable the less nodes it has.
The less nodes it has the more likely a ddos becomes which could have fatal consequences.
This kind of attack where an only medium size enitity (like mastercard or visa for example) could ddos 90% or more of the nodes on the network is highly overlooked and underestimated. That's also a reason a blocksize increase which would further reduce nodes is very unwise.
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R2D221
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June 11, 2015, 06:59:02 PM |
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If there is no internet, Bitcoin is the least of your problems.
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An economy based on endless growth is unsustainable.
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Amph
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June 11, 2015, 07:03:37 PM |
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If there is no internet, Bitcoin is the least of your problems.
this is debatable, if you have a big stash of bitcoin, losing the access to it, indefinitely, it will be one of your biggest problem, especially if those are the only money you have |
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StevenS
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June 11, 2015, 09:01:19 PM |
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Receiving 100% of the block rewards for the time of the blackout? Absolutely.
That's somewhat less than 4000 BTC per day of the global blackout.
Not exactly. The difficulty changes only about every 2 weeks, so it will remain at the same level for days after the blackout. During those days, the people with the "solar computer" will get 100% of the block rewards, but because they are the total hash power working at the same difficulty, it will be much more than 10 minutes between blocks, meaning much less than 4000 BTC per day. |
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