Bitcoin Forum
December 12, 2024, 06:54:11 PM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 5 [6]  All
  Print  
Author Topic: Why Bitcoin and Not a better improved crypto?  (Read 4712 times)
Dabs
Legendary
*
Offline Offline

Activity: 3416
Merit: 1912


The Concierge of Crypto


View Profile
February 28, 2015, 12:47:56 AM
 #101

Bitcoin 2.0 would not be the same as Bitcoin 1.0.

When SHA256 becomes obsolete due to a faster than brute force break, the rest of the world will have bigger problems to deal with first.

inBitweTrust
Hero Member
*****
Offline Offline

Activity: 658
Merit: 501



View Profile
February 28, 2015, 12:50:49 AM
 #102

Show me Bitcoin decentralized asset exchange then.
You are a bit behind the times. You should probably spend more time researching than all the effort invested into trolling.

Bitcoin has these:
http://www.secureae.com
https://blockscan.com/order_book?asset1=XCP&asset2=SWARM
https://www.masterxchange.com/market.php?currency=maid
https://bitsquare.io/
http://www.coinffeine.com/
http://www.coinsigner.com/

Decentralized asset exchanges for in person-
https://localbitcoins.com/
https://mycelium.com/lt/help.html


Will you apologize for spreading ignorant FUD?

R2D221
Hero Member
*****
Offline Offline

Activity: 658
Merit: 500



View Profile
February 28, 2015, 12:53:58 AM
 #103

When SHA256 becomes obsolete due to a faster than brute force break

You seem pretty confident on that statement. Do you know anything we don't know about the SHA256 algorithm?

An economy based on endless growth is unsustainable.
R2D221
Hero Member
*****
Offline Offline

Activity: 658
Merit: 500



View Profile
February 28, 2015, 12:57:30 AM
 #104

Maybe Bitcoin 2.0 then?

We still have a long way before Bitcoin 1.0.

An improved version with anonymous untraceable transactions. It doesn't have to happen in 2 or 3 years, but eventually SHA256 will become obsolete and we'll be forced to upgrade.

As I said, what makes people think SHA256 will become obsolete? Seriously, I don't know.

What will the new bitcoin based on another algorithm be called? Somebody could say that Internet was upgraded and the name remained the same, but the new internet surely isn't the same one people used in 1980.

It's important to note that the Internet evolved progressively. Yes, it's not the same today than it was in the 80s, but the changes didn't happen overnight. So, Bitcoin will be Bitcoin, even if they change the hash algorithm.

I think the changes will come but they will be introduced smoothly and won't require users to sell their coins and buy something new.

I totally agree.

An economy based on endless growth is unsustainable.
inBitweTrust
Hero Member
*****
Offline Offline

Activity: 658
Merit: 501



View Profile
February 28, 2015, 01:06:48 AM
 #105

Bitcoin has most the features that alts do , they just fall outside of Bitcoin core by design and we should keep it that way.

Keep bitcoin simple, modular, and dumb like TCP/IP. All these alts that keep scaffolding features within their core code instead of keeping the development on the edges will fall behind.

An apropos example is how sophisticated Telephony switch operators which kept the endpoints (telephone receivers) dumb and focused on upgrading their network are now being overtaken by VOIP and cellular networks with smart endpoints and simpler networks.

If Bitcoin remains simple it will offer greater agility, security, and flexibility.


bitgeek
Sr. Member
****
Offline Offline

Activity: 462
Merit: 251



View Profile
March 01, 2015, 05:33:13 AM
 #106

An improved version with anonymous untraceable transactions. It doesn't have to happen in 2 or 3 years, but eventually SHA256 will become obsolete and we'll be forced to upgrade.

As I said, what makes people think SHA256 will become obsolete? Seriously, I don't know.
News sites have been screaming about quantum computers for months. I'm taking these articles with a pinch of salt, but still there will come a day when SHA256 will no longer be secure.


███████████████████████████████
███████████████████████████████
████████████████████████████████
████████████████████████████████
██████████████████████████████████
██████████████████████████████████████████
█████████████████████████████████████████
███████████████████████████████████████
█████████████████████████████████████
█████████████████████████████████████
█████████████████████████████████████
███████████████████████████████████
█████████████████████████████████████
█████████████████████████████████████

.

.

.

Online.BTC.Bingo

.

.

.*500%.CASH.BACK.+.INSTANT.BONUS
..PROGRESSIVE.JACKPOT
..NO-DOWNLOAD.CLIENT
.

.

.

EPIC.FUN.
Come-from-Beyond
Legendary
*
Offline Offline

Activity: 2142
Merit: 1010

Newbie


View Profile
March 01, 2015, 08:26:29 AM
 #107

News sites have been screaming about quantum computers for months. I'm taking these articles with a pinch of salt, but still there will come a day when SHA256 will no longer be secure.

SHA256 is immune to quantu computers.
R2D221
Hero Member
*****
Offline Offline

Activity: 658
Merit: 500



View Profile
March 01, 2015, 05:13:24 PM
 #108

Quantum computers are for solving certain kinds of calculations faster, but that doesn't mean they will automatically break all cryptography in the world.

An economy based on endless growth is unsustainable.
Jace
Sr. Member
****
Offline Offline

Activity: 288
Merit: 251


View Profile
March 01, 2015, 05:31:59 PM
 #109

Before quantum computers will come even close to breaking (as in, feasibly brute forcing) Bitcoin's cryprography, pretty much all other financial protocols on the planet will have been broken long before.

In fact, quantum computers breaking cryptography will be a bliss for Bitcoin. It will break other financial systems' cryprography MUCH sooner, thus fiat / credit card / paypal / other centralized types of money users will be inclined to flee to safer, quantum computing resistant alternatives, like Bitcoin.

Feel free to send your life savings to 1JhrfA12dBMUhcgh85wYan6HL2uLQdB6z9
LordSonjai
Full Member
***
Offline Offline

Activity: 210
Merit: 100


View Profile
March 01, 2015, 06:50:43 PM
 #110

I laugh at this,every time I read another post about an alt coin being better than bitcoin I say.

"How could an alt coin succeed when bitcoin fails?What would a alt coin be without bitcoin when alt coins would seize to exist if it wasn't for bitcoin?"

Alt coins are the real scams here.
Come-from-Beyond
Legendary
*
Offline Offline

Activity: 2142
Merit: 1010

Newbie


View Profile
March 01, 2015, 07:06:44 PM
 #111

Alt coins are the real scams here.

I like your conclusion. It sounds so sarcastic when you recall that Bitcoin is a ponzi scheme and money of drug traffickers.
LordSonjai
Full Member
***
Offline Offline

Activity: 210
Merit: 100


View Profile
March 01, 2015, 07:10:12 PM
 #112

Alt coins are the real scams here.

I like your conclusion. It sounds so sarcastic when you recall that Bitcoin is a ponzi scheme and money of drug traffickers.



well than good sir,what is it,is it a ponzi scheme or money of drug traffickers?
Come-from-Beyond
Legendary
*
Offline Offline

Activity: 2142
Merit: 1010

Newbie


View Profile
March 01, 2015, 07:32:38 PM
 #113

well than good sir,what is it,is it a ponzi scheme or money of drug traffickers?

I used "and" upthread.
R2D221
Hero Member
*****
Offline Offline

Activity: 658
Merit: 500



View Profile
March 01, 2015, 08:29:26 PM
 #114

well than good sir,what is it,is it a ponzi scheme or money of drug traffickers?

I used "and" upthread.

It can't be both.

An economy based on endless growth is unsustainable.
Pages: « 1 2 3 4 5 [6]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!