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Author Topic: Google possesses threat to bitcoin. What do you say?  (Read 374 times)
malekbaba
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November 17, 2019, 04:26:01 PM
 #1

Quantum supremacy was a lie or a failure attempt. may be they failed to break cryptography but they showed potential risks and whole crypto industry suffered. Now, google is here with smart checking bank account by google pay. And again bitcoin or other crypto giants will have hard time. Crypto provides security, can secure privacy, giant like amazon, twitter and apple are supporting crypto. Yet only price speculation is only factor that effect the crypto price, it seems.
What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder

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November 17, 2019, 04:52:20 PM
 #2

Quantum supremacy was a lie or a failure attempt. may be they failed to break cryptography but they showed potential risks and whole crypto industry suffered. Now, google is here with smart checking bank account by google pay. And again bitcoin or other crypto giants will have hard time. Crypto provides security, can secure privacy, giant like amazon, twitter and apple are supporting crypto. Yet only price speculation is only factor that effect the crypto price, it seems.
What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder
I don't think that now it's reasonable to worry about stuff like Google. Big companies can fight against the market, but they cannot kill Bitcoin no matter what. They are not valuing privacy, probably doing lots of morally dubious things and people tend to care and learn about it more and more. Bitcoin can offer something they cannot. And it might not become something that replaces the most popular services, but it will always find people who believe in it. As for the price, it's natural that speculation is related to its changes. After all, people can read speculative articles and change their minds. However, as more time passes, Bitcoin is becoming more and more stable and FUD-resistant.

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November 17, 2019, 04:55:18 PM
 #3

Quantum supremacy was a lie or a failure attempt. may be they failed to break cryptography but they showed potential risks and whole crypto industry suffered. Now, google is here with smart checking bank account by google pay. And again bitcoin or other crypto giants will have hard time. Crypto provides security, can secure privacy, giant like amazon, twitter and apple are supporting crypto. Yet only price speculation is only factor that effect the crypto price, it seems.
What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder

That's just another service from google. We've known their different services for years and 75% of their new services fails miserably and even if they succeed, they'll just tap one of the market crypto could have been used. I'd not still consider it to be a rival to crypto as a whole.



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November 17, 2019, 05:02:32 PM
 #4

Does Google offer decentralized, censorship-resistant, deflationary currency? If no, then how can it be a threat to Bitcoin? People who value simplicity and convenience will stick to fiat methods, including google pay, but those who want to be in control of their own money will use Bitcoin, and no fiat payment method will make them change their decision. Decentralized altcoins are the only true competitors of Bitcoin, but they also have much smaller network security, questionable design choices and other problems.

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November 17, 2019, 05:14:43 PM
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 #5

What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder

@malekbaba I’m a seo professional and I’m telling you while people use google for searching information they’ll never trust it as a banking partner. The key reason why people won’t trust google bank is because everyone knows that google will harvest customers data, even if they have claimed they won’t use customers data. In the end people will need to remember that google will snoop on their data and make more money, while bitcoin won’t snoop or sell your data hence I’m sure people will choose bitcoins over google bank.

https://arstechnica.com/tech-policy/2019/11/google-will-offer-checking-accounts-says-it-wont-sell-the-data/

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November 17, 2019, 05:20:56 PM
 #6

Quantum supremacy was a lie or a failure attempt. may be they failed to break cryptography but they showed potential risks and whole crypto industry suffered. Now, google is here with smart checking bank account by google pay. And again bitcoin or other crypto giants will have hard time. Crypto provides security, can secure privacy, giant like amazon, twitter and apple are supporting crypto. Yet only price speculation is only factor that effect the crypto price, it seems.
What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder
This project is called "Cache", its only a checking account and is planned to be launch by google next year. It only offers to help make money simple and accesible for their potential users, meaning customers will likely benefit by getting better access to payment technologies and give them the benefit of convenience. So of there would be someone who would likely to get threatened those are the third  party payment apps like paypal, apple pay, and VenMo because this ñroject only aims and offers a better cashless transactions, don't have any say about the decentralized feature and being censorship resistant that bitcoin totally has, so I don't think this would make investors abandon bitcoin.

 
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November 17, 2019, 05:35:01 PM
 #7

Does Google offer decentralized, censorship-resistant, deflationary currency? If no, then how can it be a threat to Bitcoin? People who value simplicity and convenience will stick to fiat methods, including google pay, but those who want to be in control of their own money will use Bitcoin, and no fiat payment method will make them change their decision. Decentralized altcoins are the only true competitors of Bitcoin, but they also have much smaller network security, questionable design choices and other problems.

Crypto concept is not that familiar to genaral people. Look at exchanges. Most of the big exchanges are centralized. We are trading decentralized assets within centralized platform. Leave the others, we are crypto lovers and still we prefer centralized exchanges. If google attracts investors, crypto may face delays in global adoption. Time is money.

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November 17, 2019, 05:46:06 PM
 #8

Google not only possesses threat to bitcoin but to every company. Google fetches and stores different kinds of data from the customers through their vast amount of services.
All of this data is tells a lot about a person and hence companies are ever ready to purchase this information from Google since they can use it for whatever purpose they want.
So Google is not only a threat to bitcoin but in short to everybody.



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November 17, 2019, 06:48:26 PM
 #9

Google pay along with Apple Pay and PayPal is still a third party. It’s not that different than a business or government cryptocurrency which is decentralized. It’s still inferior in many ways to a decentralized currency.

 
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November 17, 2019, 07:16:57 PM
 #10

Quantum supremacy was a lie or a failure attempt. may be they failed to break cryptography but they showed potential risks and whole crypto industry suffered. Now, google is here with smart checking bank account by google pay. And again bitcoin or other crypto giants will have hard time. Crypto provides security, can secure privacy, giant like amazon, twitter and apple are supporting crypto. Yet only price speculation is only factor that effect the crypto price, it seems.
What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder

Google never fails do the growth of their business but I never see that is there any attack over the block chain businesses. We need to show the growth of btc.
Then this btc value grows means obviously we will see the support from all the sides. Even google may support us.

 
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November 17, 2019, 07:18:41 PM
 #11

Quantum supremacy was a lie or a failure attempt. may be they failed to break cryptography but they showed potential risks and whole crypto industry suffered.
It was only the people who gave into stupid FUD that believed that bitcoin was going to get hacked or something like that - as it stands right now, and for a long time, there is no point to worry about it, I'd be more worrried about governments and shady secrets being leaked due to QC tech.

Now, google is here with smart checking bank account by google pay. And again bitcoin or other crypto giants will have hard time. Crypto provides security, can secure privacy, giant like amazon, twitter and apple are supporting crypto. Yet only price speculation is only factor that effect the crypto price, it seems.
Google Pay is a payment method, I don't believe they have actual access to your bank records, they are only able to keep records of what you spend your money on, not how much you have.

What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder
It doesn't matter - you are talking about 2 different demographics.

 
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November 17, 2019, 08:36:45 PM
 #12

I think the whole Quantum and the ability to break bitcoin chain was just an hoax. And has been blown out of proportion because I read a report that their effect will be minimal and if they attempt to work further, their whole will crash. After this claim, bitcoin went up.

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November 17, 2019, 08:47:35 PM
 #13

Quantum supremacy was a lie or a failure attempt. may be they failed to break cryptography but they showed potential risks and whole crypto industry suffered. Now, google is here with smart checking bank account by google pay. And again bitcoin or other crypto giants will have hard time. Crypto provides security, can secure privacy, giant like amazon, twitter and apple are supporting crypto. Yet only price speculation is only factor that effect the crypto price, it seems.
What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder
I think people are getting a little too carried away with the phenomenon of quantum computing, it's like they've seen way too many science fiction movies  Grin. The quantum computers available today can only do certain types of calculations, and they do  them exceptionally well, better than most supercomputers. Today's Q-bit quantum computing is in it's infancy, so there there are a few shortcomings like the DECOHERENCE problem. It is one of quantum computing major flaws at the moment. However, remaining optimistic, some time within the future the DECOHERENCE problem will definitely be solved, but most likely not any time soon.

 
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November 17, 2019, 08:48:49 PM
 #14

Quantum supremacy was a lie or a failure attempt. may be they failed to break cryptography but they showed potential risks and whole crypto industry suffered

Quantum computers are not as stable as the "commercials" show them. They are not really usable yet afaik. And if the manage to crack Bitcoin, (way too) many other things become unsafe. And however, Bitcoin has certain protection and I expect it be quite low in the list of quantum tasks. I expect, for example, a good weather forecast be much more higher in the list.

Crypto provides security, can secure privacy

Bitcoin is pseudo anonymous, one has to be very careful if he cares about his privacy. (On the other hand there are plenty of coins that do offer privacy by default.)

What if google attracts millions of new investors?

Bitcoin is not just another thing to invest into. I expect more and more will understand that and choose Bitcoin.
Google, on the other hand, is just one successful company. People invest in companies before Bitcoin existence and will continue to do so. It doesn't really affect Bitcoin.


All in all, none of these "problems" are actual problems. Calm down  Wink

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November 17, 2019, 08:51:12 PM
 #15


What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder
I do not know how many investors google has but I know that investors are happy to invest in cryptocurrencies! So that think in a whole in this there is nothing terrible!

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November 17, 2019, 09:24:24 PM
 #16

What if google attracts millions of new investors?
They will always attract investors because they have an established name so it's nothing going to be new if they would get millions of their investors, because their geographical boundary is large.

what if crypto fails to attract investors?
Don't generalize it. Many altcoins will fail but there are few of them which you can name but the main star of cryptocurrencies which is bitcoin, looks very hard to fail within these days. Why worry about these if google will offer a different thing from what bitcoin features have?

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November 17, 2019, 10:44:27 PM
 #17

Is this a part of this "google is going to hack bitcoin using a supercomputer" FUD?

Maybe this is the reason for the current downtrend? People are scared of things that are so far in the future that you could as well be scared of an alien invasion.

I'm not worried about google collecting my search data and counting my mouse clicks. I'm not a person in their database but only a number. It doesn't concern me that they find out that this number likes to buy in this or that store and pay with crypto. If you're scared don't use any program because most of them including windows and your android phone collect and manage statistical data.

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November 17, 2019, 11:22:34 PM
 #18

Google vs bitcoin is two different things. How can be a google threat to bitcoin when it comes to the investors? Worrying too much bout these things is useless. Since google add up some services to improve their system and provide quality services, what makes it become threat to bitcoin?

Day by day new investors of btc are coming, it's because they can see bitcoin is the solution to the problem. Many companies now are trying to integrate blockchain technology in ther system, thus making it useful. I don't think investors will turn their back because of some fuds like this.

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November 17, 2019, 11:54:43 PM
 #19

Quantum supremacy was a lie or a failure attempt. may be they failed to break cryptography but they showed potential risks and whole crypto industry suffered. Now, google is here with smart checking bank account by google pay. And again bitcoin or other crypto giants will have hard time. Crypto provides security, can secure privacy, giant like amazon, twitter and apple are supporting crypto. Yet only price speculation is only factor that effect the crypto price, it seems.
What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder

How exactly do you think google possesses the technology that might destroy bitcoin? You should understand that quantum computer do not really have any kinda supremacy over blockchain technology and cryptography. You should provide enough information regarding these wide assumptions that will help people understand why you think google possesses the threat to bitcoin. I don't really see any threat google has on Bitcoin..
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November 18, 2019, 12:48:10 AM
 #20

Though in my personal opinion, other than Bitcoin, altcoins really does not offer anything, except for those top altcoins, others are just shitcoins to me. So there's not really that great of a market to attract for them. Bitcoin on the other hand, has already proven itself and people quite know that they're different and maybe reconsider/learn Bitcoin as an alternative to these prevailing payment systems by centralized companies that collects your financial data and sell it to third party conpanies.

 
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