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oakpacific
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October 16, 2013, 03:20:06 AM |
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If there are no catastrophic events, the "Internet kill switch" will be a moot issue within three years. There may still be the potential for continental separation, but methods exist for communication even at transoceanic distances without relying on cables or satellites. With geographically diversified mining resources, Bitcoin will be effectively unbreakable at that point.
That is when Bitcoin will start truly eroding gold's position as a monetary asset, after fiat currencies have been proven bettered by crypto.
Now you have brought up an interesting problem: can someone(e.g., superpowerful alphabet agencies) actually manage to exert control on the whole network by manipulating what's being sent through the cables? Maybe when we get all super-rich with bitcoins we need to construct our own submarine fiber systems, secured by quantum cryptography which is resistant to both sabotage and quantum computing. Well that's the thing. He's talking about radio waves. Not sure how manipulable those are. You still have limited range and routers/repeaters. That's where the network is vulnerable to manipulation. Nature has provided us with the ionosphere, radio stations could be built with reasonable(comparable to a mining farm even if you use short-to-medium wavelength) cost and decentralization. |
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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cypherdoc (OP)
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Activity: 1764
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October 16, 2013, 03:34:22 AM |
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i haven't been looking into too many of the other threads but the reaction to this rally seems so subdued. where are all the rocket pictures? how many sold into the SR dump? not my subs, i can tell you that. here you go:  |
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justusranvier
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Merit: 1009
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October 16, 2013, 03:39:13 AM |
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oakpacific
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October 16, 2013, 03:47:18 AM |
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i haven't been looking into too many of the other threads but the reaction to this rally seems so subdued. where are all the rocket pictures? how many sold into the SR dump? not my subs, i can tell you that. here you go: People probably are already starting to have a itching feeling in their ass/spine, but the anachronistic banking system is keeping them in check. |
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cypherdoc (OP)
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October 16, 2013, 03:53:09 AM |
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anachronistic
that's too big an English word for a Chinese to say. just stick to "buy". |
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oakpacific
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October 16, 2013, 04:06:57 AM |
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seems the Chinese are the ones buying (and maybe the only ones left holding?)  Ha, better than holding government bonds. |
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cypherdoc (OP)
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October 16, 2013, 04:11:58 AM |
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seems the Chinese are the ones buying (and maybe the only ones left holding?) Ha, better than holding government bonds. you got that right. remember the 3 mo T Bill chart i showed you the other day that showed the rate increase off the bottom to be 2000%. here's today's version:  |
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oakpacific
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October 16, 2013, 04:15:39 AM |
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seems the Chinese are the ones buying (and maybe the only ones left holding?) Ha, better than holding government bonds. you got that right. remember the 3 mo T Bill chart i showed you the other day that showed the rate increase off the bottom to be 2000%. here's today's version: Thanks, I'll reconsider buying next time if they are going to add lifetime subscription to C-SPAN as a bonus, I heard their soap opera is good. |
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molecular
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October 16, 2013, 07:40:37 AM |
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seems the Chinese are the ones buying (and maybe the only ones left holding?) Do you mean xbt or USD? |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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Zangelbert Bingledack
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Activity: 1036
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October 16, 2013, 08:15:37 AM |
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Subdued reaction is good. It an indication of minimal frothiness, i.e., price will continue rising.
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dozerz
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Activity: 2214
Merit: 1057
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October 16, 2013, 08:27:58 AM |
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now bitcoin, gold and silver all collapsing? enjoy the ride |
space for rent, shilling for sats
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thoughtfan
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October 16, 2013, 10:02:49 AM |
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now bitcoin, gold and silver all collapsing? enjoy the ride If only houses in earthquake areas 'collapsed' in this manner!!  |
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dozerz
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Activity: 2214
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October 16, 2013, 05:07:41 PM |
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bitcoin down, gold and silver begin to climb as debt ceiling raised....
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space for rent, shilling for sats
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cypherdoc (OP)
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Activity: 1764
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October 17, 2013, 07:29:46 PM |
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finally found the right rocket:  |
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dozerz
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Activity: 2214
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October 17, 2013, 08:46:09 PM |
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To da moon?
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space for rent, shilling for sats
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sidhujag
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Activity: 2044
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October 17, 2013, 10:32:27 PM |
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high volume on gold spot cfd today. Looks like major accumulation has begun to target $2k and beyond.
Always pays to know how to read a chart. For the noobs... london got in at the low(check the upthrust time) so don't think for a second that american panzies are gonna let london make all the profit. So look for price to slowly stagnate down towards the open of last london open. perfect entry. |
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molecular
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Merit: 1019
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October 18, 2013, 06:26:21 AM |
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VisionVictory made quite an awesome Bitcoin propaganda video explaining bitcoin to the metal-head-crowd:  http://www.youtube.com/watch?v=T_hBhymFfm8this could lead to... Gold collapsing. Bitcoin UP.EDIT: added pic |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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Dusty
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October 18, 2013, 07:09:56 AM |
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dozerz
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Activity: 2214
Merit: 1057
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October 18, 2013, 07:15:58 AM |
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VisionVictory made quite an awesome Bitcoin propaganda video explaining bitcoin to the metal-head-crowd: http://www.youtube.com/watch?v=T_hBhymFfm8this could lead to... Gold collapsing. Bitcoin UP.EDIT: added pic nice video, will share that around. gold, silver and bitcoin all up on news that today is friday |
space for rent, shilling for sats
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manfred
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Activity: 966
Merit: 1001
Energy is Wealth
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October 18, 2013, 08:43:34 AM |
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seems the Chinese are the ones buying (and maybe the only ones left holding?) You could be right there |
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