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Author Topic: Google possesses threat to bitcoin. What do you say?  (Read 374 times)
sehoon
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December 01, 2019, 09:39:16 AM
 #61

They might harm cryptocurrencies that are going to underperform, but I don't think they can impose threat on bitcoin. Once bitcoin shows its signs again, it will have more investors than stocks or any other things that you can invest in. Once it goes back to its 2017 point again, there will be a lot of money thrown on bitcoin and altcoins once again. As long as the altcoins continue to improve and new good projects will start to rise.

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December 01, 2019, 01:54:49 PM
 #62

They might harm cryptocurrencies that are going to underperform, but I don't think they can impose threat on bitcoin. Once bitcoin shows its signs again, it will have more investors than stocks or any other things that you can invest in. Once it goes back to its 2017 point again, there will be a lot of money thrown on bitcoin and altcoins once again. As long as the altcoins continue to improve and new good projects will start to rise.
Google will have its influence to those who don't believe enough in bitcoin but to those who already see how it performs and how it progress and recover despite of its volatility they will still use bitcoin. But as Google pay offers also earnings thru their other partnered website we can still consider it as it may help us too.

 
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December 01, 2019, 03:24:02 PM
 #63

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 pay is not secure as it seems there is a ton of hacking happening in Gmail
when you connect your credit card it can be used in any games in play store
there is some story that a son use the credit card to buy thousand dollars of games credit in play store
i also experience it but only a small amount so i never connect card in my google pay again


 
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December 01, 2019, 06:25:10 PM
 #64

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

Nah Google doesn't pose a threat. Developers have realized the problem. The other day I was talking to an ex-BTC developer who said that the devs have already started looking into quantum resistant hashing. In a year or 2 we should start seeing the early versions of quantum resitant cryptogrpahy
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December 02, 2019, 04:18:12 AM
 #65

Nah Google doesn't pose a threat. Developers have realized the problem. The other day I was talking to an ex-BTC developer who said that the devs have already started looking into quantum resistant hashing. In a year or 2 we should start seeing the early versions of quantum resitant cryptogrpahy

In the first place it doesn't mean when we say quantum computing power, means powerful decryption of secured passwords. Quantum computers have their massive computing difference to the computing algorithms or patters we have on our pc which primarily responsible in encrypting and decrypting cryptocurrency. In addition, the hashing algorithm such as SHA256 is quite strong enough, though, there is a possibility it could be compromised by the quantum computers, but there are restrictions that quantum computers need to conform which make the cryptocurrency invulnerable to them.

 
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December 02, 2019, 04:39:05 AM
 #66

Google will probabily influence it in a way if it advertises for the long term. Or uses it as a payment option.

Prices don't change just because of specualtions, you can feel from those countries that incentivate its usage with a big uprise on buy and new investors approaching the market.
New companies are forming a group of new investors that was never seen before.
These investors are the ones making price bigger / lower.
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December 02, 2019, 06:45:03 AM
 #67

Google will probably influence it in a way if it advertises for the long term. Or uses it as a payment option.

Prices don't change just because of speculations, you can feel from those countries that incentivate its usage with a big uprise on buy and new investors approaching the market.
New companies are forming a group of new investors that was never seen before.
These investors are the ones making price bigger / lower.
Those new  investors who incorporate themselves to other will play the big role on which way to decide the directions of their investment, it's uncontrollable since they can deal with new money that will going to flow inside this market. There's always possibilities if being plan well and
we can't stop anyone to work with they think that they will have the advantages.

 
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December 02, 2019, 02:24:31 PM
 #68

Basic Google threat to Bitcoin (like anything else) is that because of the fact it is almost a monopolist on the search engine market. Because of that google in the very first place they can manipulate search results to promote content of specific type.
Example - you google "how to buy Bitcoin", and the first page would consist only doom and gloom information about Bitcoin (like hacks, or how low went BTC during the last downtrend or some articles claiming BTC is used for criminals), and only on second or third page there will be the first information related to what you have been searching for.

Alternatively, there will be no search results - or like with youtube they own "This content is not available in your country".

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December 02, 2019, 03:52:55 PM
 #69

I do not think so, it is unlikely that Google will become a threat. I think that rather Google invests in bitcoin.
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December 02, 2019, 05:46:12 PM
 #70

Nah Google doesn't pose a threat. Developers have realized the problem. The other day I was talking to an ex-BTC developer who said that the devs have already started looking into quantum resistant hashing. In a year or 2 we should start seeing the early versions of quantum resitant cryptogrpahy

In the first place it doesn't mean when we say quantum computing power, means powerful decryption of secured passwords. Quantum computers have their massive computing difference to the computing algorithms or patters we have on our pc which primarily responsible in encrypting and decrypting cryptocurrency. In addition, the hashing algorithm such as SHA256 is quite strong enough, though, there is a possibility it could be compromised by the quantum computers, but there are restrictions that quantum computers need to conform which make the cryptocurrency invulnerable to them.

True currently quantum computers are like the ENIAC in the 1930s, but as technology progresses SHA256 will feel the pressure. It won't happen overnight, but 20 - 30 years of research can do something. We have to be prepared for everything.
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December 02, 2019, 09:26:28 PM
 #71

That's not something I need to worry about. Although Google has a strong influence, cryptocurrency niches, especially Bitcoin, have formed a strong community so it is not easily influenced by it.
Both have different niches, even if Google's plan was realized I was reluctant to join because Google could see my personal data freely, of course, it was very different from bitcoin. I am also sure that most others will still choose Bitcoin.

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