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Author Topic: Bitcoin and Moore's Law  (Read 1605 times)
barbarousrelic
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December 14, 2010, 09:52:45 PM
 #1

Does the exponential increase in processor speed pose any threat to the integrity of Bicoin 10 or 15 years down the road? Will processors ever get fast enough that an individual can spend somebody else's bitcoins by calculating their private keys from their public keys (or however else someone might try to compromise the system)?

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
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December 14, 2010, 09:55:46 PM
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There will be better encryption system down the road.

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December 14, 2010, 10:02:05 PM
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the cryptographic portions of Bitcoin are somewhat modular, and can be swapped out for other/better/future versions of similar tools with majority consent of the network; no matter the reason for doing so.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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