If War breaks out between China and the US, can China hack Bitcoin? - page 3.

pakhitheboss

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Quote from: pragmatic gut on May 22, 2020, 11:40:23 PM

IF war with China should happen this summer with the UNited States,,, could China hack Bitcoin if it had to regardless of cost?

People and their wild imagination.

Gone are those days when armies fight directly. Now days no e of these countries can afford a full scale war. They can only put economic restriction and encourage hacking each other's military and secret servers.

Bitcoin does not depend on outside world issues. If the chines by any means are able to control the Bitcoin network then the community will basically can destroy them by ignoring Bitcoin.

Just like what happened to Steem Network.

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Quote from: Haunebu on May 23, 2020, 09:39:36 AM

Quote from: arwin100 on May 23, 2020, 08:50:56 AM

Lol, To much netflix could create fantasy so better minimize watching that since in real life there's no one will notice on bitcoin since if you look on current situation even if there's no war still we can see it unnoticed by many chines and american

Firstly, I have no idea which Netflix movie or show you are referring to here. Secondly, the governments would probably try to gain control of BTC since it is basically money in a digital format and money wins wars.

Quote from: ranochigo on May 23, 2020, 09:14:47 AM

What good would it do if China hacks Bitcoin? Bitcoin doesn't belong to any country.

Op does have a point here. Even if BTC is decentralized and doesn't belong to any specific country, it is still money which itself is the most important resource when waging wars.

Quote from: serjent05 on May 23, 2020, 09:30:13 AM

Simple answer... no. As we can see China will rather focus its monetary fund for warfare than spending billions of dollars hacking the Bitcoin Network. It is illogical to hack Bitcoin in the middle of a war.

The Chinese government could actually execute the 51% attack if they possess their own quantum computers secretly hidden away. The same could be mentioned about the USA. BTC could prove to be a valuable resource though the scenario that op described seems impossible.

Thank you for your answer. You seem to see the larger theater given the conditions I proposed.

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Quote from: Lucius on May 23, 2020, 06:13:13 AM

That's right, if there was a war between China and the United States, it would actually mean the beginning of World War 3, in which there would be hardly any winners given the types of weapons that the two countries possess today. Bitcoin would become quite irrelevant in the event of a world war, people would save lives and the internet would become inaccessible to many.

This is exactly the only logical thing that can happen and I think a lot of people fail to understand how the world works when they hope and dream of black swan events like WW3, or a complete collapse of global economy, or total fiat destruction -- all in the hopes that this means Bitcoin is left to tower over all other money, valued at $1 million or some other number.

Not saying million-dollar Bitcoin's not possible, but that it would never happen in any of those global destruction scenarios. Food and security would be worth any number of Bitcoin we'd have if shit went down like this.

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Quote from: pragmatic gut on May 22, 2020, 11:40:23 PM

IF war with China should happen this summer with the UNited States,,, could China hack Bitcoin if it had to regardless of cost?

Even if there is no war Bitcoin cannot hack or crack bitcoin, it's already a thing to hack bitcoin, and there are countless offers of money to hack or crack bitcoin but until now no one did even in other altcoins there are also offer to hack it.

Why does the war need to start? in the two countries, we know that no one owns the bitcoin? do the US or China own bitcoin, either way, there are so many theories about this who really own the bitcoin or what country it is. Still, I think bitcoin cannot be hack by anyone I believed this is a piece of advanced technology we might need more years to hack it.

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IMO, there are two types of war the cold and the hot war and if we're referring to a hot war then Bitcoin has nothing to do with it since everyone will have a life full of fear like doomsday for anyone. Cold war can destroy a country in fact this covid19 can be considered as an attack of china to the US and other countries that causes severe damage to the economy.

The Cold war with regards to hacking Bitcoin and I think it has no great effect nor be beneficial to china for it is still less of the global population are using Bitcoin or cryptocurrency right now. Either hot or cold war that may happen between the US and China will still the people who will bear all the sufferings.

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Quote from: Haunebu on May 23, 2020, 09:39:36 AM

Quote from: ranochigo on May 23, 2020, 09:14:47 AM

What good would it do if China hacks Bitcoin? Bitcoin doesn't belong to any country.

Op does have a point here. Even if BTC is decentralized and doesn't belong to any specific country, it is still money which itself is the most important resource when waging wars.

Bitcoin is not fiat though. It isn't a currency that is endorsed by the government. If anything, fiat is the resource that would be used during war. You probably won't see governments paying contractors in Bitcoin during a war. The spending during a war would take hundreds of billions and I highly doubt Bitcoin in its entirety would be able to finance even a significant portion of it.

Attacking Bitcoin through 51% would be a waste of resources and even if they manage to attack Bitcoin, it would quickly become worthless and all their resources would've gone to waste.

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Quote from: arwin100 on May 23, 2020, 08:50:56 AM

Lol, To much netflix could create fantasy so better minimize watching that since in real life there's no one will notice on bitcoin since if you look on current situation even if there's no war still we can see it unnoticed by many chines and american

Firstly, I have no idea which Netflix movie or show you are referring to here. Secondly, the governments would probably try to gain control of BTC since it is basically money in a digital format and money wins wars.

Quote from: ranochigo on May 23, 2020, 09:14:47 AM

What good would it do if China hacks Bitcoin? Bitcoin doesn't belong to any country.

Op does have a point here. Even if BTC is decentralized and doesn't belong to any specific country, it is still money which itself is the most important resource when waging wars.

Quote from: serjent05 on May 23, 2020, 09:30:13 AM

Simple answer... no. As we can see China will rather focus its monetary fund for warfare than spending billions of dollars hacking the Bitcoin Network. It is illogical to hack Bitcoin in the middle of a war.

The Chinese government could actually execute the 51% attack if they possess their own quantum computers secretly hidden away. The same could be mentioned about the USA. BTC could prove to be a valuable resource though the scenario that op described seems impossible.

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Quote from: pragmatic gut on May 22, 2020, 11:40:23 PM

IF war with China should happen this summer with the UNited States,,,

First how will war happen ?we are in this crisis and you are talking about war ,this is not the right time to tackle such thing because even
china is helping US and other country to prevent this pandemic so please stop this kind first at least after this Virus .

Quote from: PochJvb on May 23, 2020, 08:08:49 AM

In my view nobody can hack the bitcoin blockchain since it's fairly distributed and nobody owns it so it's not possible for anyone to hack it. In case of such global war, btc can continue to exist.

there is no topic about stopping bitcoin existence instead bitcoin being in control of one country,things that very impossible to happen
because no one owns bitcoin ,it is decentralized and cannot be handled .

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Quote from: pragmatic gut on May 22, 2020, 11:40:23 PM

IF war with China should happen this summer with the UNited States,,, could China hack Bitcoin if it had to regardless of cost?

Simple answer... no. As we can see China will rather focus its monetary fund for warfare than spending billions of dollars hacking the Bitcoin Network. It is illogical to hack Bitcoin in the middle of a war. It will only hinder China's war campaign than help it with funds if that is what you are thinking of asking the question about the possibility of China to hack BTC.

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What good would it do if China hacks Bitcoin? Bitcoin doesn't belong to any country.

If you mean being able to hack Bitcoin by the use of 51% attacks, which is pretty much the only attack that they can execute, then you're wrong. In terms of the global transaction volume, Bitcoin isn't used by any government as a store of value. It would make sense if you could paralyse another country by restricting their financial flow but it can't be the case. The most that they can do is to stop the citizen from using Bitcoin which doesn't really affect people since most of the transactions are in fiat as of now.

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Quote from: bitbunnny on May 23, 2020, 06:48:51 AM

This doesn't make any sense. War between China and US and Bitcoin, how is this all even connected? It isn't.

It will make sense if we only talk about the two countries dispute but adding bitcoin in between? Meh.

Quote from: bitbunnny on May 23, 2020, 06:48:51 AM

First of all I don't see a reason for war between China and US and despite rather bad relations between these two countries, wars don't start so.easy and something like that would probably turn into world war.
Also, Bitcoin doesn't have any relevance in regulations between these two countries so I can't see the point.

What these countries are conflicting about is all on their economy, USA as the world's largest economy by GDP is such a huge advantage of them and they would not let that be on China's hand. On the other side China is world's largest producer which is the best competitor in the world that's why Trump is creating trade barriers. Even though the USA is a wealthy country, I don't think they will be still an independent country in the future.

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Quote from: pragmatic gut on May 22, 2020, 11:40:23 PM

IF war with China should happen this summer with the UNited States,,, could China hack Bitcoin if it had to regardless of cost?

Lol, To much netflix could create fantasy so better minimize watching that since in real life there's no one will notice on bitcoin since if you look on current situation even if there's no war still we can see it unnoticed by many chines and american, only the techie or people who always stay on internet notice this so it's impossible for your claims to happen since no one can hack the bitcoins itself. Maybe the war will make bitcoins price go cheaper but still no one can control this even if the war happens.

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Quote from: Tahid12 on May 23, 2020, 07:01:07 AM

Quote from: pragmatic gut on May 22, 2020, 11:40:23 PM

IF war with China should happen this summer with the UNited States,,, could China hack Bitcoin if it had to regardless of cost?

War doesn't have any connection with bitcoin. Both are different thing. But Chinese domaince 51% of mining pools, so they can drop bitcoin price but that wouldn't going to benefit for them, rather that would be harmful for their economy

Yes, that is true. But if the war gives impact to everything we have, then that could have a connection with bitcoin. Imagine if that war destroys everything, including internet connection or communication in all countries, I am sure that will give impact too with bitcoin. Bitcoin or cryptocurrency will not work well because we cannot connect to the network or use bitcoin and the other coin.

I don't think that they will drop bitcoin price if that war happens, but that could be possible if they know where is the mining pools locate so they can destroy or eliminate the company. That is only a scenario which we don't know if that will happen or not, but we need to prepare for anything that might occur later.

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The war between China and US are economical. As US tries to marginalize China, it is trying to create it's own economic bloc. China won't go with a full fledged war against US cause it knows it can't win over US military. And in case of US attacking China, China would want to prove it to be the right one, an attack on bitcoin would be against it's image correction strategy. And also if more than 50% of mining power is coming from pools from China, it doesn't mean Chinese government owns them all.

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In my view nobody can hack the bitcoin blockchain since it's fairly distributed and nobody owns it so it's not possible for anyone to hack it. In case of such global war, btc can continue to exist.

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Quote from: pragmatic gut on May 22, 2020, 11:40:23 PM

IF war with China should happen this summer with the UNited States,,, could China hack Bitcoin if it had to regardless of cost?

Coming from a simple person's point of view, I don't think that can be possible. However, this can be interesting to think about and if one day China can do that then that can be the doom of Bitcoin. Anyway, I do not believe that there will be a real war between USA and China as both countries may find it a big losing battle to both sides doing it...eventually these two giants will settle their difference behind the lights of the cameras.

Reid

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Will you still think about that?
Ain't making a bunker the first thing you should be thinking about instead of having deep thoughts about crypto currencies?

Hacking bitcoin?
I doubt that.
When you are at war, you get a weapon. Not a keyboard.
Or is this a discussion about "keyboard warriors"? Grin

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Quote from: pragmatic gut on May 22, 2020, 11:40:23 PM

IF war with China should happen this summer with the UNited States,,, could China hack Bitcoin if it had to regardless of cost?

War doesn't have any connection with bitcoin. Both are different thing. But Chinese domaince 51% of mining pools, so they can drop bitcoin price but that wouldn't going to benefit for them, rather that would be harmful for their economy

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Quote from: pragmatic gut on May 22, 2020, 11:40:23 PM

IF war with China should happen this summer with the UNited States,,, could China hack Bitcoin if it had to regardless of cost?

I think you mean 51% attack here. And why would they do that though? Just because they are at war with US? doesn't makes any sense at all, what will they get on crippling the market in short amount of time? Do you think that by attacking bitcoin they will win the war? It's not bitcoin that they are at war with, it's US. So I doubt that they will do a 51% attack, they should save that money because it will cost them millions if they attempted such attack.

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This doesn't make any sense. War between China and US and Bitcoin, how is this all even connected? It isn't.
First of all I don't see a reason for war between China and US and despite rather bad relations between these two countries, wars don't start so.easy and something like that would probably turn into world war.
Also, Bitcoin doesn't have any relevance in regulations between these two countries so I can't see the point.

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