We already passed the tipping point of BTC

[Serby]

Ok, I'll rephrase the statement, i was not alluding to another altcoin which would destroy btc, but to the processing power of computers in the next decades that would render its algorythme obsolete :"This exponential growth in the form of 1, 2, 4, 8, 16, 32, 64, 128, 256, 512, 1024, 2048, 4096, 8192, 16384, 32768, 65536, 131072, 262144, 524288, 1048576,"  "Computer processing power will increase 1000+ fold during the next decade, one million fold over the next two decades, and a billion fold in three decades. Considering the current power of our computers, a billion-fold increase in computational power is almost unimaginable".

Just imagine how easy it will be to crack 256-bit key by brute force.

I gotcha, well yes I think that will happen...but also the algorithm can always be modified...

I personally don't know if BTC will be around in 5 years, I am just enjoying the ride while its around.  It could be around with a modified version it could be taken over.  The point of all these threads about price/speculation seem rather silly though when none of us are what will happen.

Be careful no to get burned though. You're right to point to price and speculation, especillay when technological singularity is nearly than anyone knows. Additionally, would you agree that a modified version would come too late, and at any rate, useless?

[LiteCoinGuy]

Ok, I'll rephrase the statement, i was not alluding to another altcoin which would destroy btc, but to the processing power of computers in the next decades that would render its algorythme obsolete :"This exponential growth in the form of 1, 2, 4, 8, 16, 32, 64, 128, 256, 512, 1024, 2048, 4096, 8192, 16384, 32768, 65536, 131072, 262144, 524288, 1048576,"  "Computer processing power will increase 1000+ fold during the next decade, one million fold over the next two decades, and a billion fold in three decades. Considering the current power of our computers, a billion-fold increase in computational power is almost unimaginable".

Just imagine how easy it will be to crack 256-bit key by brute force.

I gotcha, well yes I think that will happen...but also the algorithm can always be modified...

I personally don't know if BTC will be around in 5 years, I am just enjoying the ride while its around.  It could be around with a modified version it could be taken over.  The point of all these threads about price/speculation seem rather silly though when none of us are what will happen.

Be careful no to get burned though. You're right to point to price and speculation, especillay when technological singularity is nearly than anyone knows. Additionally, would you agree that a modified version would come too late, and at any rate, useless?

at least i never said something about the price 

[JayJuanGee]

How can you possibly say something and the exact opposite in the next sentence? It amazes me.

"I will take [...] as a signal of your capitulation"; "I am NOT trying to win anything with you".

Geez! Please don't make me look it up in dictionary for you.

O.k.   Go cry somewhere else then.. since you have NOT had anything meaningful to add in approximately your last several posts.

Look, I'm not taking no orders from you. I'm here to stay, got it?

I am ordering you to stay here.... That's an order.  You better listen, Serby!!!! 

[Serby]

How can you possibly say something and the exact opposite in the next sentence? It amazes me.

"I will take [...] as a signal of your capitulation"; "I am NOT trying to win anything with you".

Geez! Please don't make me look it up in dictionary for you.

O.k.   Go cry somewhere else then.. since you have NOT had anything meaningful to add in approximately your last several posts.

Look, I'm not taking no orders from you. I'm here to stay, got it?

I am ordering you to stay here.... That's an order.  You better listen, Serby!!!! 

You sound like a 12 years old kid. Let the adults do the talking, JayJuanGee.

[JayJuanGee]

How can you possibly say something and the exact opposite in the next sentence? It amazes me.

"I will take [...] as a signal of your capitulation"; "I am NOT trying to win anything with you".

Geez! Please don't make me look it up in dictionary for you.

O.k.   Go cry somewhere else then.. since you have NOT had anything meaningful to add in approximately your last several posts.

Look, I'm not taking no orders from you. I'm here to stay, got it?

I am ordering you to stay here.... That's an order.  You better listen, Serby!!!!  

You sound like a 12 years old kid. Let the adults do the talking, JayJuanGee.

  

[Serby]

Maybe the Bitcoin killer will be BruteforceCoin, a coin with the aim to crack every existing Bitcoin. Lol

https://www.youtube.com/watch?v=hGlyFc79BUE

May the BruteForceCoin be with you, HA HA HA
 

[heybigboy1]

Been saying this forever, BTC is the next biggest currency in the making!

[Serby]

Been saying this forever, BTC is the next biggest currency in the making!

The force is strong in that one.

[LiteCoinGuy]

https://www.youtube.com/watch?v=CDPlLluNR6I

[leex1528]

Is anyone not concerned with the price?  I mean this does not look good for us!

[Monkeynutz]

I think we'll see another good run in the future, maybe now 1000/btc but hopefully up to 600usd/btc again.  Otherwise, things are looking crap right now with the direction we're heading. 

[JayJuanGee]

I think we'll see another good run in the future, maybe now 1000/btc but hopefully up to 600usd/btc again.  Otherwise, things are looking crap right now with the direction we're heading. 

There is NOTHING really wrong with bitcoin... so prices hovering in the $300s for more than a month is NOT a death knell to bitcoin and does NOT foreclose another BTC price run.  Surely a BTC price run may have been delayed because of the ongoing downward price manipulation, yet there is NOTHING really fundamentally stopping that we could have a BTC price run anytime between 1 month and 18 months...  that will take us to a new ATH into the $3k to $13k price range. 

In these price ranges, I would NOT be writing any BTC obituary - yet, if fundamentals change or if BTC prices get into the double digits, then maybe we will need to revisit the question.

[jonald_fyookball]

Is anyone not concerned with the price?  I mean this does not look good for us!

not really too concerned. there's 3600 coins a day being mined... still 21m coin limit, this investment is a long term play. meow

[Bitmore]

Tipping point?

http://www.zerohedge.com/news/2014-10-28/things-make-you-go-hmmm-swiss-gold-status-quo-showdown

How about if the Swiss return their currency to a gold backing?
Avoiding the depression of being dragged down by the EU?
What do you think that will do to gold and Bitcoin?

It could be big, and it could be good for Bitcoin.

And this is soon...

[crazyALT47]

Is anyone not concerned with the price?  I mean this does not look good for us!

not really too concerned. there's 3600 coins a day being mined... still 21m coin limit, this investment is a long term play. meow

this....this and this. i'm not worried. we are in for the long haul

[crazyALT47]

i have only just noticed, there are some people in positions to manipulate btc prices and there are also insides that are at work and have been able to act just before some major announcement.  Even though these manipulators may NOT be able to effect the long-term direction of BTC, they could affect BTC and cause volatility for the short term.  There ARE entities and people that do have powers to affect the direction of BTC and i think they will.

[williamevanl]

I see the tipping point as happening when it hits a much higher percent adoption. (It's definitely not there yet!)

[pitham1]

Tipping point?

http://www.zerohedge.com/news/2014-10-28/things-make-you-go-hmmm-swiss-gold-status-quo-showdown

How about if the Swiss return their currency to a gold backing?
Avoiding the depression of being dragged down by the EU?
What do you think that will do to gold and Bitcoin?

It could be big, and it could be good for Bitcoin.

And this is soon...

That would be great for gold.
Bitcoin? Not so sure.

[devphp]

hey folks,

in the last days i had the feeling that we already passed the tipping point of bitcoin. maybe 2014 is THE breaketrough year for bitcoin in the history books.

Indeed, Bitcoin has reached the tipping point.

[LiteCoinGuy]

i guess you have to study the power of the network effect  (+ power of VC money  )