My $50 000 Bitcoin bet

[wishingwell]

I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.

BE sure to specify which branch of Bitcoin it is you are betting on - but I think your bet is safe enough

I would take some of that action too

[Yakamoto]

I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.

I mean that's a pretty hefty bet, the only thing that can potentially screw you over is in the event a fork goes to shit and has a ton of issues with the code or opens up security issues within the network, which is always possible but so far none of those issues have been apparent with the network and I doubt that there will be any of these issues in the future as well. But of course I cannot guarantee that, so there's a lot that can happen. I think that it would be interesting to see the results of your bet once 2019+some rolls around, though.

[pixie85]

I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry.

It is called a Death Spiral.
http://bitcoinandtheblockchain.blogspot.com/2017/08/chain-death-spiral-fatal-bitcoin.html

Your Friend is right,
ASIC miners will go wherever the profit is greatest , within a year or so that will be Bitcoin Cash not Bitcoin.


╥Aztek

Bitcoin cash? That shitty coin that was supposed to be better than Bitcoin but still is trading for a fraction of the real thing? Last time I checked BCC was worth even less now than it was after the launch and it's been months... Who are you trying to fool?

[thebanker28]

Never say never, but I think it is unlikely to blow up. I think that individual wallets and exchanges will get hacked, but the hacks will not be bitcoin based. The blockchain itself is what I assume your friend is proposing will be hacked, while it is technically not impossible it is extremely unlikely.

If there were a statistician here they could probably calculate the likelihood of it happening, but at the current computing capacity it would probably take hundreds of thousands or millions of years to do this, if you had that kind of power you might be doing uther things rather than trying to break Bitcoin - like curing cancer, solving death and asking all sorts of interesting questions.

[BartS]

I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.

They are not going to honor their bet, make them buy 50k worth of bitcoin and put it in escrow and you show to them that you have 50k worth in fiat as well, but I can assure you the moment you suggest them the idea to make the bet official they are going to back down, they are just talking tough, I’m sure they are not willing to fulfill that bet, so call their bluff and show that you have the means to pay the bet and they are going to show how convinced they are about their thoughts

[Youghoor]

Yes it is quite interesting, but nobody can predict if bitcoin is going to be hacked, most people say that we are on a bubble right now, but honestly.. people only go to where the money is, so it wont stop me from keep buying or selling in order to get profit, i am happy with my bitcoin investment, and i wont withdraw it because of that. i always try to keep some part of my bitcoins in cash, because i never trusted it all. But lets see what happens in two years, good luck with your bet

[YuginKadoya]

This should be in the gambling section if you really want to bet it all out, but surely this is also disscussing about bitcoin so I might be wrong, well that is a bad move you made with your friends regarding they surely don't have any knowledge regarding bitcoin be fair by teaching them about it, but I really think that they are not interested with it so just consider them losing in the year 2019, and by means of bitcoin crashing you can surely win because of the given year and it will just occur 2 years from now, I really think bitcoin will crash but not entirely right now or in a 2 years prior but it will be in the future well maybe when when you can not mine for it anymore, and bitcoin system can not be hack but I am guessing that your friends might not be thinking about the system but the coins itself that will be the one that's gonna be hack because of the ransomware news that poping up anyware and randomly victimising bitcoin users.

[xFiber]

I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.

I mean that's a pretty hefty bet, the only thing that can potentially screw you over is in the event a fork goes to shit and has a ton of issues with the code or opens up security issues within the network, which is always possible but so far none of those issues have been apparent with the network and I doubt that there will be any of these issues in the future as well. But of course I cannot guarantee that, so there's a lot that can happen. I think that it would be interesting to see the results of your bet once 2019+some rolls around, though.

Yea I really do agree with you. 50 grant is quite a big number to make a bet with (unless both of you are millionaires). And just as Yakamoto said anything can happen really. Especially now, the world is changing pretty rapibly so you never know. But let's hope that won't happen.

[aoluain]

Nice bet, and it would be nice to collect too!

Im not sure bitcoin will go that high by 2019,
its quite a leap from where we are now.

Bitcoin blockchain being hacked, im not so sure
about that. I read somewhere that in order to hack
It you have to move backwards along the blockchain
while all the time it is moving in the other direction

[BartS]

Nice bet, and it would be nice to collect too!

Im not sure bitcoin will go that high by 2019,
its quite a leap from where we are now.

Bitcoin blockchain being hacked, im not so sure
about that. I read somewhere that in order to hack
It you have to move backwards along the blockchain
while all the time it is moving in the other direction

The bet is not about bitcoin reaching 50000 dollars in two years, the bet has a size of 50000 and it is about whether bitcoin will keep existing, or it will crash and disappear or be hacked by that time, I think whoever made the bet against bitcoin is very dumb that is a bet that I will do any day of the week, if I had 50000, which I don’t since that is the pay of many years in my country.

[Don Pedro Dinero]

I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.

Is this a creative story or for real? I doubt you will bet such amount for that reason. If Im wrong here, you can show proofs here.

If ever that is real, then definitely you will win. It's hard to think that bitcoin will crash (as in zero value) in just 2 years. It's just 2 years away and for crash to happen it should be on slow phase. But like I said, it's difficulty to think of a reason for bitcoin to crash. Some are, goverments shut down bitcoin per country, no one uses bitcoin, bitcoin became illegal worldwide any many more. These kind of things have low change to happen.

Of course that is a creative story.

What I doubt is that he has 50.000$ to bet, which would mean that he has much more cash available. I wouldn't bet that amount unless I had 1.000.000$.

So, a person who has 50.000 to bet, at the same time is working here in a signature campaign for pennies. Apart from that, he doesn’t give any more explanation on how the winner is going to get the money.

It seems like that 50.000$ bet is going to be as if I bet 5$ or just a coffee with one of my friends.

The most likely scenario is that the story is made up to keep collecting pennies from the signature campaign.

[robelneo]

I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.

That's interesting do you have both sign an agreement and made it notarized, you have a big chance to claim your prize as bitcoin has a good it behind it to keep it secured, because millions of people are relying on it, I'm also surprise that your it friend do not believe in bitcoin since this is the new technology

[Brama Jasa]

I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.

I think the way you think good .. bitcoin prices will continue to increase rapidly,
due to several factors

1. not everyone knows bitcoin yet
2. bitcoin small amount
3. everyone starts buying bitcoin
     and others

some of the above factors are things that push the bitcoin price higher

[Wingo]

Bitcoin being hacked cannot really happen because of its security. Wallets can be hacked but the whole system cannot be hacked. And their belief that it would crash is simply impossible, blockchain is not a single server.

[rjbtc2017]

I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.

Is this a joke?, well if this is real or not, one thing is for sure, bitcoin developers are continuously strengthening the bitcoin system. 2019 is near though but still i believe that there are no "secure" system. Bitcoin is hack-able for sure but i am not certain how it will happen, and another thing. I do not believe on what you say that most people you know that are in IT field is not interested in bitcoin is somehow unbelievable. The technology of Blockchain is awesome and i thought they should learn and use it for a better efficiency on their system.

[Kakmakr]

Wow, that is money for jam my friend. Bitcoin has not been hacked since it was created in 2009. So you have a track record of 8 years to back your bet. There are also a steady increase in the price in the long-term, so that counts in your favour too. We know the code is solid, but you have to define what Bitcoin he/she is referring too. < Bitcoin Cash / Bitcoin Gold / Original Bitcoin >

The developers on the other forks are clueless, so I would rather go with the people behind the original Bitcoin. < Core Defs > 

[contrarian]

I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.

Is this a joke?, well if this is real or not, one thing is for sure, bitcoin developers are continuously strengthening the bitcoin system. 2019 is near though but still i believe that there are no "secure" system. Bitcoin is hack-able for sure but i am not certain how it will happen, and another thing. I do not believe on what you say that most people you know that are in IT field is not interested in bitcoin is somehow unbelievable. The technology of Blockchain is awesome and i thought they should learn and use it for a better efficiency on their system.

I know a few people in IT and that was my experience too. They aren't very interested in bitcoin. Especially not in investing in it. Some never looked into bitcoin. Some still think it is a ponzi scheme or another scam. Others say that it can't be used for services without converting to euros or dollars first so it won't get anywhere. I gave up trying to talk to some of them about it.

[hadisaw]

I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.

Congratulations for your bet, I'm sure you're the winner. Because bitcoin has tried thousands of times to break into but no one can. And that's the specialty of bitcoin.

[ninabobo]

I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.

right, I agree with you, mostly in business circles

as well as my place, in my country, most of those involved in bitcoin, essentially businessmen or office workers who know about the internet and the stock market.
I think bitcoin will survive and become more popular.

[rjbtc2017]

I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.

Is this a joke?, well if this is real or not, one thing is for sure, bitcoin developers are continuously strengthening the bitcoin system. 2019 is near though but still i believe that there are no "secure" system. Bitcoin is hack-able for sure but i am not certain how it will happen, and another thing. I do not believe on what you say that most people you know that are in IT field is not interested in bitcoin is somehow unbelievable. The technology of Blockchain is awesome and i thought they should learn and use it for a better efficiency on their system.

I know a few people in IT and that was my experience too. They aren't very interested in bitcoin. Especially not in investing in it. Some never looked into bitcoin. Some still think it is a ponzi scheme or another scam. Others say that it can't be used for services without converting to euros or dollars first so it won't get anywhere. I gave up trying to talk to some of them about it.

My IT Professor/ a security Professor introduced me to bitcoin. There are lots of IT people are just focusing on their job, they must also be updated on new technologies like blockchain, this is unbelievable, like really. Blockchain is just an awesome way of recording data, and bitcoin's process of transaction is also awesome that it could be used in different systems.