Topic: [ANN] SpreadCoin | True Decentralization (No Pools) | Testing New Masternodes - page 39. (Read 810029 times)

ah, ok. I'm interested in pensions now.

Are you referring to the servicenode release date? 

There are tons of people now looking at crypto, from an academic level all the way through to a commercial IBM level. The amount of investment in the underlying technologies is only just beginning. Who knows where we will be in 12 months time, let alone 20 years time.

^^ Wow... This statement speaks volumes.

Let me change your mind.

The thinking goes like this:

* Cash is going out of fashion. The more we use mobile devices, the sooner physical cash will be extinct.

* Crypto will be able to compete with any electronic payment tool. It's only a matter of time, brand trust, utility and added services.

* If you use crypto to buy things with, you will get change. Send back change to a long-term savings account, and over 50 years you could probably save the equivalent of $5/day from $0.20 here and $0.50 there being automatically credited from your purchases of ice cream, beer, burgers to petrol.

* Secure those funds with an escrow arrangements 'with yourself', to not touch the funds in your long-term savings / pension address for 30-50 years, and your funds would become eligible for pension tax relief, and possibly top-ups from the state.

* Now, pensions require index linked growth. So, send funds to an accredited ETF that tracks the top 100 stocks in your country and you have a two-way relationship with an investment tracker that you can't access, for general spending, for 30-50 years.

* Your ETF will earn dividends, these can be reinvested or sent to your pension address. This means that the funds don't need to always sit on a blockchain. They can go off somewhere else and come back, or be sent to fiat provided that there are arrangements to send funds to a pension accredited location.

I see no reason why you can't use spare change to generate a pension pot of $200k to $500k.

There are a few details that need ironing out, but otherwise it's Simples.

Very cool, thanks for the link.

The thing is, we don't know if there couldn't one day be a large enough decrease in strength for a widely used hashing algorithm, and we can't always expect that...

a) a better (and more thoroughly tested) algorithm will be ready at that moment, and...

b) that we will always have early enough warning signs and a long enough transition time between the old and new algorithm so that any potential damages can be constrained.


Therefor I say: crypto for retirement? Not recommendable.

If you dig around in the crypto literature, you'll probably find that the general understanding is that such breakthroughs are just not the way cryptanalysis works. Experience thus far is all about incremental reductions in strength, to a point where the community begins to agree that migrating away would probably be a Good Idea(tm). SHA1 hasn't actually been broken, it's “merely” considered too weak for some of the cryptography purposes for which it used to be used. AIUI it's still a valid option for hashing, that aspect of SHA1 security remains adequately secure.

There's a bunch of must-read info on the SHA-3 Zoo wiki --- http://ehash.iaik.tugraz.at/wiki/The_SHA-3_Zoo

Cheers

Graham

I wasn't talking about bugs that can be fixed.
I was talking about fundamental flaws in the mathematics behind hashing algorithms that we may not know of yet.

So if hashing algorithms show a fundamental problem you are simply going to replace them .... with "other" hashing algorithms?  

Mathematics is full of problems we know no solution for. Simply recognizing a problem doesn't always immediately reveal a solution, especially in mathematics.

then it changes ... nothing more ...

if there is an issue that is major - the developers will fix it or change it ...

if there is an issue that is minor - the developers will fix it or change it ...

its all software as you know mate ... so what CANT be done with it is the real question ...

there is bound to be some issue along the way - it whether the devs are going to be there to fix that is the real question ...

this is why i watch this thread and i like what you guys are doing ...

you are no mr spread - but thankfully - you will take the baton and run with it ...

kudos ...

#crysx

The biggest obstacle to really long time crypto investments (many decades) is that it remains to be seen how secure those hashing algorithms really are...

To this day no one has found a single SHA 256 collision, but what if that changes?

How do you imagine that will work?

Pensions.....zzzzzzzzzzzzzzzzzzzzzzzz

I think there is a way for ServiceNodes to do pensions.

Imagine that. Crypto encouraging the teens to start saving for their retirement. That would make the news 

I'd thumbs up, but...

This slide pretty much explains why I got into crypto:



I didn't know these figures, but I could see the signs of how history was repeating itself.

The internet is the biggest thing in our lives right now, but just wait until Crypto begins to show some maturity.

http://www.coindesk.com/state-of-bitcoin-q1-2015-record-investment-buoys-ecosystem/

With ~600 crypto projects out there, Spread is moving into a new segment which will attract investor attention; but it is also moving into a segment that is likely to be much bigger than the medium term value of the currency space.

A few people seem to be liquidating a few coins here and there from various projects in order to fund pump n dump targets (actually, I liquidated a few BTC to do the same  ).

Expect profits to be used to buy back xyz coin  

If anyone wants to sell 5k SPR, PM

It was only 3.6k

How many SPR are you after?