I think bitcoin is very robust as it is decentralize.
It's can't be killed by anyone.
It's can't be killed by anyone.
YES ! It's can't be killed by anyone. it's the beauty of bitcoin
Topic: Is bitcoin vulnerable? (Read 2250 times)
YES ! It's can't be killed by anyone. it's the beauty of bitcoin
I think bitcoin is very robust as it is decentralize.
It's can't be killed by anyone.
It's can't be killed by anyone.
No, bitcoin is not vulnerable ,but, some associates are vulnerable & they have to fix immediately !
Maybe if bitcoin becomes very popular perhaps the elites in power now will stage some type of blackout and send themselves 50% of bitcoin?
You're obviously mistaken about what a 50% attack can do.Sending 50% of bitcoin to themselves is not what the evildoers could achieve by staging a global blackout.
Double-spending attacks, well, possible, but there would be no targets to launch them at. There'd simply be no one to accept those double-spends.
Receiving 100% of the block rewards for the time of the blackout? Absolutely.
That's somewhat less than 4000 BTC per day of the global blackout.
4000 BTC/day in comparison to the huge negative impact on economy during the global blackout?
Well, no one said powerful elites were smart. But stupid like that?
edit: typos
it was already said numerous times, the cost of doing this far exceed the cost of doing the exact same thing, but helping the network instead, thus retrieving profit with the usual mining reward system...
Maybe if bitcoin becomes very popular perhaps the elites in power now will stage some type of blackout and send themselves 50% of bitcoin?
You're obviously mistaken about what a 50% attack can do.Sending 50% of bitcoin to themselves is not what the evildoers could achieve by staging a global blackout.
Double-spending attacks, well, possible, but there would be no targets to launch them at. There'd simply be no one to accept those double-spends.
Receiving 100% of the block rewards for the time of the blackout? Absolutely.
That's somewhat less than 4000 BTC per day of the global blackout.
4000 BTC/day in comparison to the huge negative impact on economy during the global blackout?
Well, no one said powerful elites were smart. But stupid like that?
edit: typos
it was already said numerous times, the cost of doing this far exceed the cost of doing the exact same thing, but helping the network instead, thus retrieving profit with the usual mining reward system...
Maybe if bitcoin becomes very popular perhaps the elites in power now will stage some type of blackout and send themselves 50% of bitcoin?
You're obviously mistaken about what a 50% attack can do.Sending 50% of bitcoin to themselves is not what the evildoers could achieve by staging a global blackout.
Double-spending attacks, well, possible, but there would be no targets to launch them at. There'd simply be no one to accept those double-spends.
Receiving 100% of the block rewards for the time of the blackout? Absolutely.
That's somewhat less than 4000 BTC per day of the global blackout.
4000 BTC/day in comparison to the huge negative impact on economy during the global blackout?
Well, no one said powerful elites were smart. But stupid like that?
edit: typos
it was already said numerous times, the cost of doing this far exceed the cost of doing the exact same thing, but helping the network instead, thus retrieving profit with the usual mining reward system...
Maybe if bitcoin becomes very popular perhaps the elites in power now will stage some type of blackout and send themselves 50% of bitcoin?
You're obviously mistaken about what a 50% attack can do.Sending 50% of bitcoin to themselves is not what the evildoers could achieve by staging a global blackout.
Double-spending attacks, well, possible, but there would be no targets to launch them at. There'd simply be no one to accept those double-spends.
Receiving 100% of the block rewards for the time of the blackout? Absolutely.
That's somewhat less than 4000 BTC per day of the global blackout.
4000 BTC/day in comparison to the huge negative impact on economy during the global blackout?
Well, no one said powerful elites were smart. But stupid like that?
edit: typos
Is it really worth the cost/effort?
Bitcoin is not such a big threat.... yet.
No.
But here is some food for thought.
What if there was a global black out, some how... wouldn't bitcoin be vulnerable to someone with solar powered computer and internet access?- (an engineered global black out just in case you were going to say that there wouldn't be internet access"
It will not work and blackout on a global scale is near impossible. Bitcoin is very safe from any sort of vulnerabilities, there are several ways which bitcoins are vulnerable, if 51% of miners get together and decide to hard fork; or cracking the sha 256 algorithm on whose back bitcoin is build, on which case both are near impossible to do and likely won't happen in the next 100 years. But here is some food for thought.
What if there was a global black out, some how... wouldn't bitcoin be vulnerable to someone with solar powered computer and internet access?- (an engineered global black out just in case you were going to say that there wouldn't be internet access"
This really seems like a scenario from a catastrophic movie and personally I do not believe it.
What would be the possible motivation of miners to do something like this?
What would they get by killing their ''golden goose'' which brings income to them?
I really don't see any realistic reason for it.
Maybe if bitcoin becomes very popular perhaps the elites in power now will stage some type of blackout and send themselves 50% of bitcoin?
You're obviously mistaken about what a 50% attack can do.Sending 50% of bitcoin to themselves is not what the evildoers could achieve by staging a global blackout.
Double-spending attacks, well, possible, but there would be no targets to launch them at. There'd simply be no one to accept those double-spends.
Receiving 100% of the block rewards for the time of the blackout? Absolutely.
That's somewhat less than 4000 BTC per day of the global blackout.
4000 BTC/day in comparison to the huge negative impact on economy during the global blackout?
Well, no one said powerful elites were smart. But stupid like that?
edit: typos
If there is no internet, Bitcoin is the least of your problems.
this is debatable, if you have a big stash of bitcoin, losing the access to it, indefinitely, it will be one of your biggest problem, especially if those are the only money you have
Little known fact humans need water and food to survive. I know most people don't know this but it's true!
only true if after the black out, we return to a point where money aren't really needed, and we can just fight our way through the jungle , to get food by hunting and water
do you really think that this scenario is realistic, if a blackout really happens? to me it seems a bit fanciful
No.
But here is some food for thought.
What if there was a global black out, some how... wouldn't bitcoin be vulnerable to someone with solar powered computer and internet access?- (an engineered global black out just in case you were going to say that there wouldn't be internet access"
It will not work and blackout on a global scale is near impossible. Bitcoin is very safe from any sort of vulnerabilities, there are several ways which bitcoins are vulnerable, if 51% of miners get together and decide to hard fork; or cracking the sha 256 algorithm on whose back bitcoin is build, on which case both are near impossible to do and likely won't happen in the next 100 years. But here is some food for thought.
What if there was a global black out, some how... wouldn't bitcoin be vulnerable to someone with solar powered computer and internet access?- (an engineered global black out just in case you were going to say that there wouldn't be internet access"
No.
But here is some food for thought.
What if there was a global black out, some how... wouldn't bitcoin be vulnerable to someone with solar powered computer and internet access?- (an engineered global black out just in case you were going to say that there wouldn't be internet access"
I think if there would be a global black out , people who have solar power even if they were mining bitcoin before, they would stop doing it because they are going to need that precious power then. But here is some food for thought.
What if there was a global black out, some how... wouldn't bitcoin be vulnerable to someone with solar powered computer and internet access?- (an engineered global black out just in case you were going to say that there wouldn't be internet access"
in the world without power the one with the power has the money, they don't need bitcoin anymore!
If there is no internet, Bitcoin is the least of your problems.
this is debatable, if you have a big stash of bitcoin, losing the access to it, indefinitely, it will be one of your biggest problem, especially if those are the only money you have
Little known fact humans need water and food to survive. I know most people don't know this but it's true!
To survive, yes. but humans do way more than surviving.
If there is no internet, Bitcoin is the least of your problems.
this is debatable, if you have a big stash of bitcoin, losing the access to it, indefinitely, it will be one of your biggest problem, especially if those are the only money you have
Little known fact humans need water and food to survive. I know most people don't know this but it's true!
Like Amph said if you have a huge amount of bitcoin as an asset this is going to be a huge problem because due to a global black out you won't be able to access your "DIGITAL" currency! There are some thirdworld countries that have no access to generators and solar powered computers.
If there is no internet, Bitcoin is the least of your problems.
this is debatable, if you have a big stash of bitcoin, losing the access to it, indefinitely, it will be one of your biggest problem, especially if those are the only money you have
Little known fact humans need water and food to survive. I know most people don't know this but it's true!
No.
But here is some food for thought.
What if there was a global black out, some how... wouldn't bitcoin be vulnerable to someone with solar powered computer and internet access?- (an engineered global black out just in case you were going to say that there wouldn't be internet access"
But here is some food for thought.
What if there was a global black out, some how... wouldn't bitcoin be vulnerable to someone with solar powered computer and internet access?- (an engineered global black out just in case you were going to say that there wouldn't be internet access"
Do you actually understand what a global black out would do..?
I REALLY don't think you do.
if global blackout happens, bitcoin and what happens to blockchain is going to be your least worries since it is going to be chaos everywhere and you have to worry about survival instead of bitcoin.
I don't understand why suddenly this becomes an issue. Each country in the world have their own power generation capability and capacity. For a global blackout to take place all at the same time, you are talking about probability that is so small that is almost negligible. Unless you are referring to a solar storm which probably is somehow possible but very rare but then, what are the chances for it to hit every country in the world.
LOL if internet goes down we all are screwed .... hence my quote "|I can promise you can not do shet anymore without internet|"
My banks, access to governement, insurance, tv everything else i did not mention at this short answer is internet based
So if it goes down bitcoin is not your only concern, your lost i can even promise that alot of jobs can't be done for instance because they work online in the cloud.
For example office360 and much more programs.
Think about how used we are to use the internet, nobody ever goes to loopup info at books anymore ..... WE GOOGLE IT ALL.
You gonna cry if the net is down !!!
My banks, access to governement, insurance, tv everything else i did not mention at this short answer is internet based
So if it goes down bitcoin is not your only concern, your lost i can even promise that alot of jobs can't be done for instance because they work online in the cloud.
For example office360 and much more programs.
Think about how used we are to use the internet, nobody ever goes to loopup info at books anymore ..... WE GOOGLE IT ALL.
You gonna cry if the net is down !!!
Receiving 100% of the block rewards for the time of the blackout? Absolutely.
That's somewhat less than 4000 BTC per day of the global blackout.
Not exactly. The difficulty changes only about every 2 weeks, so it will remain at the same level for days after the blackout.That's somewhat less than 4000 BTC per day of the global blackout.
During those days, the people with the "solar computer" will get 100% of the block rewards, but because they are the total hash power working at the same difficulty, it will be much more than 10 minutes between blocks, meaning much less than 4000 BTC per day.
There's a "min and max" possible change when the new difficulty is calculated.
Jump to: