RodeoX
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The revolution will be monetized!
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July 28, 2015, 01:12:58 PM |
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I have seen a million times these claims that bitcoin will be hacked or destroyed by evil banks and big governments. But you know what I have never seen? A realistic way that it could happen.
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Beliathon
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July 28, 2015, 01:13:54 PM |
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What do you think about this? Put up or shut up, words are wind. Show me the science or pull it off, until then this is just moronic posturing. |
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spazzdla
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July 28, 2015, 01:19:34 PM |
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Well if you count any sort of "attack" on bitcoin a hack then sure it will.. but that's stupid.
AES encryption can easily be changed if broken.
SHA-256 not so much this is true as the mining is now ASIC but.. I don't think you really understand SHA-256 however.
Even 7 trillion penta hash is nothing compared to 1.16 x 10^77..
NOTHING. Most people get it has 77 "zeros" but they really can't fathom how bit that number actually is. Do some math on it... Perhaps when we are computing with something other than matter it will be at risk.
And even then, we would have upped the blockchain and wallets with the new 'no-matter' computing algorythms. It is not a static thing. We might be able by then to recollect the bitcoin that are now lost in lost wallets, you could go on a treasure hunt and find satoshi in old abandoned wallets, the future sounds neat  Nah, BTC would be dead if you could get a private key from a public. The hashing would have to change.. as we are using ASIC's this could be a problem.. however this is something I don't forsee being a problem for thousands of years.. legit. I don't even think quantum ASIC's would stand a chance we'd just be at crazy hashing power. |
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Amph
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July 28, 2015, 01:22:06 PM |
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a better attack would be to directly damage all the miners, by destroying them, with weapons, that's whould seriously damage the network and the mining business in general...
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SevenPointOh
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July 28, 2015, 01:38:36 PM |
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What about Gavin Anderson, or anyone with access to the bitcoin live code? Could he (in theory) introduce risks to the security of the bitcoin protocol?
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spazzdla
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July 28, 2015, 02:42:08 PM |
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What about Gavin Anderson, or anyone with access to the bitcoin live code? Could he (in theory) introduce risks to the security of the bitcoin protocol?
Why would anyone run that version? All of the nodes would have to download it and run it. |
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spazzdla
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July 28, 2015, 03:30:42 PM |
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I think someday its maybe will be exposed to hacker attacks, But maybe the attacks will not mean much.  If people think blockchain will not be exposed to hacker attacks, I just like tell every people No System is Safe yeah. If you can solve what input produces 00000000000000000000008f9703af1d47f7d8557ba04d3ab86d6e6ccaa67be5 , you'd get 25 bitcoins. Then you could do 00000000000000000000001f9703af1d47f7d8557ba04d3ab86d6e6ccaa67be5 for another 25. You think people are not trying this.. thousands of them? |
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SevenPointOh
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July 28, 2015, 11:12:40 PM |
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What about Gavin Anderson, or anyone with access to the bitcoin live code? Could he (in theory) introduce risks to the security of the bitcoin protocol?
Why would anyone run that version? All of the nodes would have to download it and run it. Doesn't Gavin & The Bitcoin Foundation introduce changes to the bitcoin protocol? |
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knowhow
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July 28, 2015, 11:26:54 PM |
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well is a thing they shouldnt had thinked yet as they need to take and assume control of 51% soo those means how many big farms hash power?,when mine bitcoin process ends i dont know it there will be possible to attack blockhain,there is a big wall to any of those expert and i really hope they dont come into bitcoin direction...better be in bitcoins those hackers then be against it,but i guess they wont bitcoin born digital ,on the code soo who else love more it them hacker and developers?  |
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XinXan
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July 29, 2015, 08:21:28 AM |
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I have seen a million times these claims that bitcoin will be hacked or destroyed by evil banks and big governments. But you know what I have never seen? A realistic way that it could happen.
But he is talking about hackers that are not affiliated with the government or any other institution. Im sure if a hacker is that good he wouldn't be wasting his time hacking the blockchain, i mean there must be plenty of other things to hack that would give him way more profit than that, surely. If the blockchain was hacked people would notice, eventually, right? So he would essentially just destroy bitcoin and he would not get as much profit, right? |
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VirosaGITS
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July 29, 2015, 08:35:17 AM |
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Hey who knows. Maybe we'll have a technological breakthrough that will create some super quantum or sub space computers that will generate 3^^^^3 hash per second and crack all the private keys in a nano second flat. It's not like you can disprove that its not possible (was it?) I lost track |
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Biitcoin
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July 29, 2015, 08:37:40 AM |
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Eventually, the blockchain will be hacked.
I know it is decentralized and the hacker needed to have control over 51% of the network to 'hack' it! BUT, like any other hack, maybe there is a way we don't know about YET! Everything is 'hackable' from the moment it is online!
What do you think about this?
I guess it's impossible also for what comes to the 51% attack you are speaking about , dosen't Mining companies or farms have to sign a contract so they don't use the attack or something ? I hope nothing happens for the next five years , at least I can sell my BTC after the collapse  |
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GODLIKE
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July 29, 2015, 09:01:31 AM |
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Eventually we will land on the sun. one day it has to become dark. then we can land.
You look a bit stupid now... you can just land on the dark side of the sun, the nightly side. |
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DannyHamilton
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July 29, 2015, 11:08:38 AM |
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- snip -
dosen't Mining companies or farms have to sign a contract so they don't use the attack or something ?
- snip -
<sarcasm> Absolutely. Before being allowed to mine on the private bitcoin network, every miner is required by the International Bitcoin Corporation to sign a Non-Disclosure Agreement, a Non-Compete Agreement, and a Proper Use Agreement. </sarcasm> |
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Hopalong
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July 29, 2015, 11:47:12 AM |
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I have seen a million times these claims that bitcoin will be hacked or destroyed by evil banks and big governments. But you know what I have never seen? A realistic way that it could happen.
Bill Gate, Brian Krzanich and Larry Page has got a bit to much to drink and start braging about whos the nerdiest geek of them all. They agree to a little hacking competition and come up with the idea of hacking bitcoin. It could happen...  |
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shad_90
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July 29, 2015, 01:18:42 PM |
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Yeah, and It can be orchestrated by some government. Why it is necessary to be ONE HACKER. There can be organized attack by a large group of hackers. Then it will be easier to hack if they can somehow coordinate their attack. Just like a country can be occupied. Wars aren't fought on one front. |
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jonald_fyookball
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Core dev leaves me neg feedback #abuse #political
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July 29, 2015, 03:44:10 PM |
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I have seen a million times these claims that bitcoin will be hacked or destroyed by evil banks and big governments. But you know what I have never seen? A realistic way that it could happen.
Bill Gate, Brian Krzanich and Larry Page has got a bit to much to drink and start braging about whos the nerdiest geek of them all. They agree to a little hacking competition and come up with the idea of hacking bitcoin. It could happen... It could theoretically happen but after that, Bitcoin would arise again in some other form, even stronger than before... The attackers would have spent a lot of money only to make Bitcoin stronger and draw a lot of attention to it. Even right now , Gavin had some proposal to neutralize a 51% attack. I don't know if it holds water, but there's some ideas about it. Remember, a 51% attacker cannot get your private keys. The worst thing they can do is stop transactions from happening by mining all empty blocks, but that's what Gavin's idea is trying to prevent. |
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Blawpaw
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July 29, 2015, 04:56:16 PM |
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Eventually, the blockchain will be hacked.
I know it is decentralized and the hacker needed to have control over 51% of the network to 'hack' it! BUT, like any other hack, maybe there is a way we don't know about YET! Everything is 'hackable' from the moment it is online!
What do you think about this?
Yes, one day it will be hacked... are you serious? I seriously hope a 51% attack on the bitcoin blockchain never happens... You'll probably be hacked before that! |
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spazzdla
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July 29, 2015, 05:06:27 PM |
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What about Gavin Anderson, or anyone with access to the bitcoin live code? Could he (in theory) introduce risks to the security of the bitcoin protocol?
Why would anyone run that version? All of the nodes would have to download it and run it. Doesn't Gavin & The Bitcoin Foundation introduce changes to the bitcoin protocol? They purpose them.. They can't force BTC in any direction. |
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andrewbb
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July 29, 2015, 06:07:46 PM |
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I agree. You could probably spoof the hash until you built up trust.
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