We recently saw the "Power Wall" being introduced by Tesla and the technology to store electricity are getting better day by day. If the main power grid goes down, people would still be able to generate alternative electricity, totally removed from the main grid.
Topic: Is bitcoin vulnerable? - page 2. (Read 2266 times)
So nobody has generators / Solar powered UPS's / etc. etc? A huge solar flare or something similar could cause that, but there are still alternatives. We have many ways of generating alternative power.
We recently saw the "Power Wall" being introduced by Tesla and the technology to store electricity are getting better day by day. If the main power grid goes down, people would still be able to generate alternative electricity, totally removed from the main grid.
We recently saw the "Power Wall" being introduced by Tesla and the technology to store electricity are getting better day by day. If the main power grid goes down, people would still be able to generate alternative electricity, totally removed from the main grid.
as long as internet conection avaible bitcoin still live
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"
With current difficulty?
He would need a ton of PCs and solar panels.
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.
Had a think about what I would do If I was lucky enough to be be in a position to take advantage of such a global power outage.
Ideas did not include manipulating a decentralized ledger to acquire something that would plunge in value when people the power came back on and everyone realized that someone had manipulated that decentralized ledger.
Ideas did not include manipulating a decentralized ledger to acquire something that would plunge in value when people the power came back on and everyone realized that someone had manipulated that decentralized ledger.
You probably could still pull it off if all it takes is a few minutes of global power outage for you to acquire your Bitcoin fortune. You'd just need to get ready to dump directly into the existing buy orders on multiple exchanges as soon as power is back on, before anyone figure out what happened.
Had a think about what I would do If I was lucky enough to be be in a position to take advantage of such a global power outage.
Ideas did not include manipulating a decentralized ledger to acquire something that would plunge in value when people the power came back on and everyone realized that someone had manipulated that decentralized ledger.
Ideas did not include manipulating a decentralized ledger to acquire something that would plunge in value when people the power came back on and everyone realized that someone had manipulated that decentralized ledger.
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
well my point stand then, because after everything will be set again, these bitcoin would comes in hand, and makes you rich another time
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
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.
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
If there is no internet, Bitcoin is the least of your problems.
Bitcoin is more and more vulnerable the less nodes it has.
The less nodes it has the more likely a ddos becomes which could have fatal consequences.
This kind of attack where an only medium size enitity (like mastercard or visa for example) could ddos 90% or more of the nodes on the network is highly overlooked and underestimated. That's also a reason a blocksize increase which would further reduce nodes is very unwise.
The less nodes it has the more likely a ddos becomes which could have fatal consequences.
This kind of attack where an only medium size enitity (like mastercard or visa for example) could ddos 90% or more of the nodes on the network is highly overlooked and underestimated. That's also a reason a blocksize increase which would further reduce nodes is very unwise.
Only way bitcoin is vulnerable is that internet wouldn't exist,and in that case,you can pray for us
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"
this scenario looks science fictiony to me!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 in case that happens and somebody or some group of people that has access to power and mine all the blocks and get the rewards. i think two things can happen:
1) everyone, after knowing this, will dump their coins and bitcoin price will fall.
2) since the blocks witch was mined was by a single person or group, maybe there will be a way to ignore all those new blocks and pick up where we left off before the black out.
If we come to a situation when global black out is possible then I think pocket generator will also be available to the people. So I guess it won't be too much of a problem. Technology will always thrive. 
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"
without internet all transactions will be rejected right? so there should not be any problem about this possible scenario, and what is a engineered global black out? never heard of such thing
global black out? can you please tell us, what you mean by this term? I never heard about it before...
he probably means if all the planet remain for a long time without electricity, such scenario seems very unrealistic and almost impossible to me
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 ever happen to occur a global blackout, the less worrying thing would be what happens to the bitcoin network...
If there is a global blackout we will have far more things to worry about than see what someone with some solar powered computer is doing to Bitcoin.
Besides once the network gets back it can be easily rolled back.
Besides once the network gets back it can be easily rolled back.
There is work to put Bitcoin on satellites.
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