That's not something I need to worry about. Although Google has a strong influence, cryptocurrency niches, especially Bitcoin, have formed a strong community so it is not easily influenced by it.
Both have different niches, even if Google's plan was realized I was reluctant to join because Google could see my personal data freely, of course, it was very different from bitcoin. I am also sure that most others will still choose Bitcoin.
Topic: Google possesses threat to bitcoin. What do you say? (Read 627 times)
Nah Google doesn't pose a threat. Developers have realized the problem. The other day I was talking to an ex-BTC developer who said that the devs have already started looking into quantum resistant hashing. In a year or 2 we should start seeing the early versions of quantum resitant cryptogrpahy
In the first place it doesn't mean when we say quantum computing power, means powerful decryption of secured passwords. Quantum computers have their massive computing difference to the computing algorithms or patters we have on our pc which primarily responsible in encrypting and decrypting cryptocurrency. In addition, the hashing algorithm such as SHA256 is quite strong enough, though, there is a possibility it could be compromised by the quantum computers, but there are restrictions that quantum computers need to conform which make the cryptocurrency invulnerable to them.
True currently quantum computers are like the ENIAC in the 1930s, but as technology progresses SHA256 will feel the pressure. It won't happen overnight, but 20 - 30 years of research can do something. We have to be prepared for everything.
I do not think so, it is unlikely that Google will become a threat. I think that rather Google invests in bitcoin.
Basic Google threat to Bitcoin (like anything else) is that because of the fact it is almost a monopolist on the search engine market. Because of that google in the very first place they can manipulate search results to promote content of specific type.
Example - you google "how to buy Bitcoin", and the first page would consist only doom and gloom information about Bitcoin (like hacks, or how low went BTC during the last downtrend or some articles claiming BTC is used for criminals), and only on second or third page there will be the first information related to what you have been searching for.
Alternatively, there will be no search results - or like with youtube they own "This content is not available in your country".
Example - you google "how to buy Bitcoin", and the first page would consist only doom and gloom information about Bitcoin (like hacks, or how low went BTC during the last downtrend or some articles claiming BTC is used for criminals), and only on second or third page there will be the first information related to what you have been searching for.
Alternatively, there will be no search results - or like with youtube they own "This content is not available in your country".
Google will probably influence it in a way if it advertises for the long term. Or uses it as a payment option.
Prices don't change just because of speculations, you can feel from those countries that incentivate its usage with a big uprise on buy and new investors approaching the market.
New companies are forming a group of new investors that was never seen before.
These investors are the ones making price bigger / lower.
Those new investors who incorporate themselves to other will play the big role on which way to decide the directions of their investment, it's uncontrollable since they can deal with new money that will going to flow inside this market. There's always possibilities if being plan well andPrices don't change just because of speculations, you can feel from those countries that incentivate its usage with a big uprise on buy and new investors approaching the market.
New companies are forming a group of new investors that was never seen before.
These investors are the ones making price bigger / lower.
we can't stop anyone to work with they think that they will have the advantages.
Google will probabily influence it in a way if it advertises for the long term. Or uses it as a payment option.
Prices don't change just because of specualtions, you can feel from those countries that incentivate its usage with a big uprise on buy and new investors approaching the market.
New companies are forming a group of new investors that was never seen before.
These investors are the ones making price bigger / lower.
Prices don't change just because of specualtions, you can feel from those countries that incentivate its usage with a big uprise on buy and new investors approaching the market.
New companies are forming a group of new investors that was never seen before.
These investors are the ones making price bigger / lower.
Nah Google doesn't pose a threat. Developers have realized the problem. The other day I was talking to an ex-BTC developer who said that the devs have already started looking into quantum resistant hashing. In a year or 2 we should start seeing the early versions of quantum resitant cryptogrpahy
In the first place it doesn't mean when we say quantum computing power, means powerful decryption of secured passwords. Quantum computers have their massive computing difference to the computing algorithms or patters we have on our pc which primarily responsible in encrypting and decrypting cryptocurrency. In addition, the hashing algorithm such as SHA256 is quite strong enough, though, there is a possibility it could be compromised by the quantum computers, but there are restrictions that quantum computers need to conform which make the cryptocurrency invulnerable to them.
Quantum supremacy was a lie or a failure attempt. may be they failed to break cryptography but they showed potential risks and whole crypto industry suffered. Now, google is here with smart checking bank account by google pay. And again bitcoin or other crypto giants will have hard time. Crypto provides security, can secure privacy, giant like amazon, twitter and apple are supporting crypto. Yet only price speculation is only factor that effect the crypto price, it seems.
What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder
What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder
Nah Google doesn't pose a threat. Developers have realized the problem. The other day I was talking to an ex-BTC developer who said that the devs have already started looking into quantum resistant hashing. In a year or 2 we should start seeing the early versions of quantum resitant cryptogrpahy
Quantum supremacy was a lie or a failure attempt. may be they failed to break cryptography but they showed potential risks and whole crypto industry suffered. Now, google is here with smart checking bank account by google pay. And again bitcoin or other crypto giants will have hard time. Crypto provides security, can secure privacy, giant like amazon, twitter and apple are supporting crypto. Yet only price speculation is only factor that effect the crypto price, it seems.
What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder
google pay is not secure as it seems there is a ton of hacking happening in GmailWhat if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder
when you connect your credit card it can be used in any games in play store
there is some story that a son use the credit card to buy thousand dollars of games credit in play store
i also experience it but only a small amount so i never connect card in my google pay again
They might harm cryptocurrencies that are going to underperform, but I don't think they can impose threat on bitcoin. Once bitcoin shows its signs again, it will have more investors than stocks or any other things that you can invest in. Once it goes back to its 2017 point again, there will be a lot of money thrown on bitcoin and altcoins once again. As long as the altcoins continue to improve and new good projects will start to rise.
Google will have its influence to those who don't believe enough in bitcoin but to those who already see how it performs and how it progress and recover despite of its volatility they will still use bitcoin. But as Google pay offers also earnings thru their other partnered website we can still consider it as it may help us too. 
They might harm cryptocurrencies that are going to underperform, but I don't think they can impose threat on bitcoin. Once bitcoin shows its signs again, it will have more investors than stocks or any other things that you can invest in. Once it goes back to its 2017 point again, there will be a lot of money thrown on bitcoin and altcoins once again. As long as the altcoins continue to improve and new good projects will start to rise.
Google will always be used to make the price of BTC to drop, they will run out soon when this quantum computing series of fud they did will not affect. I doubt this quantum computer is even real and it will not even crack mathematical equation to mine millions of BTC. And if it can, the team can just do something to prevent it from happening that will make it harder that eventually make the price go up instead because of the difficulty.
I don't understand what you are trying to say with how it could affect the cryptocurrency industry. Breaking the actual cryptographic process would stop Bitcoin or any related blockchain technology, but right now, I doubt it's near completion or could be completed. I doubt it would be useful to support a company instead of using Bitcoin itself. Adoption would be the critical thing that Google could do, and I hope they consider using Bitcoin instead of threatening Bitcoin itself.
Do you have any resources with regard to the possible threat Google has on Bitcoin?
Do you have any resources with regard to the possible threat Google has on Bitcoin?
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Very reasonable, they can create their own bitcoins by keeping Bitcoin safe.
Unlikely to happen. The mining procedure making anybody trying to mint their own coins useless. The quantum computing was another scare tactic, nothing more.Quote
In the long run they will have to develop one of their currencies. If they exploit all the bitcoins in the market and sell them, the liquidity will be zero. They will not be foolish to destroy this market. There are many people who own bitcoin and the majority are their customers and partners.
Seriously speaking, a tech company like Google would never go into that direction. They are nonethical enough to save your data but ethical enough to not sell it, similarly their owners are rich enough to not make any attempt to ruin the market. They have much better uses of quantum computing than to attempt to destroy something which has a good use.However they may create their own altcoin and promote its usage for paying, maybe google pay use?
Very reasonable, they can create their own bitcoins by keeping Bitcoin safe. In the long run they will have to develop one of their currencies. If they exploit all the bitcoins in the market and sell them, the liquidity will be zero. They will not be foolish to destroy this market. There are many people who own bitcoin and the majority are their customers and partners.
Why should cripto fail to attract new investors? I mean, Bitcoin doesn't have a marketing campaign behind, he product is too good that it doesn't need marketing. If Newspapers make some black marketing against bitcoin, it still positive marketing. Let people talk about bitcoin for good or for bad, in the end they still talking about it.
I don't think google is a threat to bitcoin right now, but maybe in the future it will be.
those quantum computer and smart checking google pay is indeed have a short term impact to whole bitcoin ecosystem.I don't think google is a threat to bitcoin right now, but maybe in the future it will be.
in fact the market itself reflected right now , this is a decentralized market where any public sentiments will always be a deadly weapon to drag people down easily. let it flow and as usual it will recovered as time goes by , we have been through these situations before.
nobody know whether google is trying to take down bitcoin on purpose or it is just a technology breakthrough that opposite each other with bitcoin.
accidentally or not. who cares , bitcoin will always find the way out with tons of believers backing it all the time.
they will never launch a quantum computer let alone destroy bitcoin, I even analyze Google is one of the companies that is in this hidden bitcoin project, it is very funny if there is a quantum computer haunting the crypto community
It was a speculation at one time, which is common among people living in 4walled basements all day and rarely going outside. Like the say, the empty brain is the devil's workshop. Delusional thinking starts and they break people down with these thoughts of holding bitcoin for future. It could also have been a propaganda by the no-coiners at one time and seem to come up from time to time.Google may very well be using blockchain as a technical instrument but their GPay is what they are more involved in developing. Possible that they hold bitcoin but that may not directly influence.
I think that google has the potential to be a threat to almost anyone. Think about how much info they collect from us everyday? Some of us like myself even use chrome which probably collects even more info.
Could they abuse this info? Sure they could. Anyone can become a threat it just varies in the level of the threat. As far as crypto goes... Well... I mean they have a lot of research from us, crypto users. Maybe they could use that? Quantum computing is a whole nothing story. I honestly don't have that much understanding about it other than the obvious that people say it can brute force a private key. That's insane and on a whole other level. So no right now I do not believe that google and quantum computing is a threat. At least not yet.
It is interesting that you understand that at some level Google is a threat to our privacy and yet you are using their browser, they are monitoring everything you do while you are surfing the web and even if you are not doing anything wrong you have a right to retain some of your privacy, in my opinion Google, Facebook and all of those companies have gone too far, but no one wants to stop them because governments are interested in that information too. Could they abuse this info? Sure they could. Anyone can become a threat it just varies in the level of the threat. As far as crypto goes... Well... I mean they have a lot of research from us, crypto users. Maybe they could use that? Quantum computing is a whole nothing story. I honestly don't have that much understanding about it other than the obvious that people say it can brute force a private key. That's insane and on a whole other level. So no right now I do not believe that google and quantum computing is a threat. At least not yet.
I think that google has the potential to be a threat to almost anyone. Think about how much info they collect from us everyday? Some of us like myself even use chrome which probably collects even more info.
Could they abuse this info? Sure they could. Anyone can become a threat it just varies in the level of the threat. As far as crypto goes... Well... I mean they have a lot of research from us, crypto users. Maybe they could use that? Quantum computing is a whole nothing story. I honestly don't have that much understanding about it other than the obvious that people say it can brute force a private key. That's insane and on a whole other level. So no right now I do not believe that google and quantum computing is a threat. At least not yet.
Could they abuse this info? Sure they could. Anyone can become a threat it just varies in the level of the threat. As far as crypto goes... Well... I mean they have a lot of research from us, crypto users. Maybe they could use that? Quantum computing is a whole nothing story. I honestly don't have that much understanding about it other than the obvious that people say it can brute force a private key. That's insane and on a whole other level. So no right now I do not believe that google and quantum computing is a threat. At least not yet.
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