"Bitcoin is stronger than all of the supercomputers in the world put together."

shawshankinmate37927

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Bitcoin: The People's Bailout

Quote from: MicroGuy on May 13, 2015, 06:11:12 AM

Did they also talk about how bitcoin is wasting more computer power than all the other computers in the world combined? I think Satoshi would have done something by now to the POW scheme to make network workers actually do something other than play the lottery.

Did you find something in his posts to support this opinion?

MicroGuy

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Quote from: Bitcoininspace on May 12, 2015, 04:07:29 AM

Stronger as in "use most electrical power" than yeah.

Did they also talk about how bitcoin is wasting more computer power than all the other computers in the world combined? I think Satoshi would have done something by now to the POW scheme to make network workers actually do something other than play the lottery.

yatsey87

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Quote from: virtualx on May 12, 2015, 03:51:57 AM

Quote from: LakeBTC on May 12, 2015, 03:48:21 AM

Bitcoin – which has never been hacked – also provides a highly secure network thanks to its miners.

“The security of Bitcoin has been put in place by thousands of people around the world who are contributing resources to the network,” Di Iorio says. “Bitcoin is stronger than all of the supercomputers in the world put together. So if something were to be disrupted, they’d have to put together a stronger system to do that, which is theoretically impossible with the technology that’s available right now.”

The network itself may not be attackable at this point but individual machines and users are attacked. There are a lot of posts on this board from individuals losing bitcoins due to neglect of computer security.

There's a big difference, but wasn't there a problem in the early days with someone creating millions of extra coins? Not sure whether that was a 'hack' or not but I remember reading about it.

Quote from: Light on May 12, 2015, 03:53:45 AM

Here's the misconception though, when we say that we compare the Bitcoin miners and supercomputers as if they are the same. They are not. Most of the miners nowadays are ASICs which means that they are designed solely for mining Bitcoin (and any similar derivatives) and thus cannot be used for anything else. Their computing power is useless for any other problem. Whereas with supercomputers you can continually calculate new things once you solve a problem - just change the inputs and the 'program'.

And this is why I don't think its right to call them or it a supercomputer. Supernetwork perhaps?

Omikifuse

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saving to reference people when they say they are afraid of 51% attacks from secret governments and when they say BTC can be hacked

BTCjust

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Quote from: amaclin on May 12, 2015, 04:03:28 AM

Quote from: LakeBTC on May 12, 2015, 03:48:21 AM

Bitcoin is stronger than all of the supercomputers in the world put together

It is not an advantage.
Bitcoin network spends a lot of energy for processing only ~100k transactions daily.

yeah, but bitcoin is not equal as the whole network, people are more willing to put Bitcoin as stock to do buniness, so Bitcoin is not play a real role in the network. the value of bitcoin is still far from being found...

transactions too little? just for the price too low. nothing else.

turvarya

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Quote from: Light on May 12, 2015, 03:53:45 AM

Here's the misconception though, when we say that we compare the Bitcoin miners and supercomputers as if they are the same. They are not. Most of the miners nowadays are ASICs which means that they are designed solely for mining Bitcoin (and any similar derivatives) and thus cannot be used for anything else. Their computing power is useless for any other problem. Whereas with supercomputers you can continually calculate new things once you solve a problem - just change the inputs and the 'program'.

It just means, you can't attack the network even if you use supercomputers. It shows how secure the system is.
What you are saying is right, but isn't relevant in a security context.

turvarya

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Quote from: virtualx on May 12, 2015, 03:51:57 AM

Quote from: LakeBTC on May 12, 2015, 03:48:21 AM

Bitcoin – which has never been hacked – also provides a highly secure network thanks to its miners.

“The security of Bitcoin has been put in place by thousands of people around the world who are contributing resources to the network,” Di Iorio says. “Bitcoin is stronger than all of the supercomputers in the world put together. So if something were to be disrupted, they’d have to put together a stronger system to do that, which is theoretically impossible with the technology that’s available right now.”

The network itself may not be attackable at this point but individual machines and users are attacked. There are a lot of posts on this board from individuals losing bitcoins due to neglect of computer security.

What does that exactly say about Bitcoin?
If User X has program Y on his PC and was hacked through a security hole in program Z, that has no relation to program Y.
How is that program Y's fault?

Bitcoininspace

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Stronger as in "use most electrical power" than yeah.

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Quote from: LakeBTC on May 12, 2015, 03:48:21 AM

Bitcoin is stronger than all of the supercomputers in the world put together

It is not an advantage.
Bitcoin network spends a lot of energy for processing only ~100k transactions daily.

Light

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Circa 2010

Here's the misconception though, when we say that we compare the Bitcoin miners and supercomputers as if they are the same. They are not. Most of the miners nowadays are ASICs which means that they are designed solely for mining Bitcoin (and any similar derivatives) and thus cannot be used for anything else. Their computing power is useless for any other problem. Whereas with supercomputers you can continually calculate new things once you solve a problem - just change the inputs and the 'program'.

virtualx

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LOTEO

Quote from: LakeBTC on May 12, 2015, 03:48:21 AM

Bitcoin – which has never been hacked – also provides a highly secure network thanks to its miners.

“The security of Bitcoin has been put in place by thousands of people around the world who are contributing resources to the network,” Di Iorio says. “Bitcoin is stronger than all of the supercomputers in the world put together. So if something were to be disrupted, they’d have to put together a stronger system to do that, which is theoretically impossible with the technology that’s available right now.”

The network itself may not be attackable at this point but individual machines and users are attacked. There are a lot of posts on this board from individuals losing bitcoins due to neglect of computer security.

LakeBTC

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LakeBTC.com

On Friday, nationally-syndicated CBC columnist Jesse Hirsch moderated a panel featuring Anthony Di Iorio, founder and CEO of Decentral, a business development centre for startups focused on disruptive and decentralized technologies. Fittingly, the founder of the Bitcoin Alliance of Canada talked about how Bitcoins and cryptocurrency will inevitably play a bigger role in the economy, and why it is an effective replacement for how we do transactions today.

[...]

[...]

Bitcoin – which has never been hacked – also provides a highly secure network thanks to its miners.

“The security of Bitcoin has been put in place by thousands of people around the world who are contributing resources to the network,” Di Iorio says. “Bitcoin is stronger than all of the supercomputers in the world put together. So if something were to be disrupted, they’d have to put together a stronger system to do that, which is theoretically impossible with the technology that’s available right now.”

[...]

http://www.techvibes.com/blog/future-of-bitcoin-2015-05-11

Topic: "Bitcoin is stronger than all of the supercomputers in the world put together." (Read 794 times)