Topic: Mining v Hacking (Read 2691 times)
You're better off using that unlimited amount of processing power toward your favorite video game and its graphics.
agreed, infinite amount of computing power btc would not be your main obective... if you had that you could just mine them and i guess steal them if you wanted and get them all and they would then be worthless so you wasted all this imaginary computer power to turn gold into mud :-P
That is the beauty of bitcoin, if you have enough "power" to corrupt the system, then would you also destroy the system, making your scam-profit worthless. Satoshi mention this in the white paper when he explains the security of PoW.
Exactly!
lol :-) gotta lovethe checks and balances built in to the btc world :-)
agreed, infinite amount of computing power btc would not be your main obective... if you had that you could just mine them and i guess steal them if you wanted and get them all and they would then be worthless so you wasted all this imaginary computer power to turn gold into mud :-P
That is the beauty of bitcoin, if you have enough "power" to corrupt the system, then would you also destroy the system, making your scam-profit worthless. Satoshi mention this in the white paper when he explains the security of PoW.
Exactly!
agreed, infinite amount of computing power btc would not be your main obective... if you had that you could just mine them and i guess steal them if you wanted and get them all and they would then be worthless so you wasted all this imaginary computer power to turn gold into mud :-P
That is the beauty of bitcoin, if you have enough "power" to corrupt the system, then would you also destroy the system, making your scam-profit worthless. Satoshi mention this in the white paper when he explains the security of PoW.
A Bitcoin mining pool, called GHash and operated by an anonymous entity called CEX.io, just reached 51% of total network mining power today. Bitcoin is no longer decentralized. GHash can control Bitcoin transactions.
A user, called david wilson operated by an anonymous newbie account, just reached my ignore list for spreading FUD today.
1. There is actually a relative ok distribution right now, "only" 14% for GHash :
https://blockchain.info/pools?timespan=1days
2. GHash had more than 50% in the past, this is not an historical event anymore.
3. 50% is not a magic number that say if the system is centralized or not, in order to corrupt the system you need to maintain more than 50% for a longer period of time, since 50% of the hashrate is not equal to 100% chance of finding a block.
It takes many trillions of years suns to hack one wallet.
It could happen in a split second so long as you had THAT much processing power.
Yeah, well....
I am sorry but I doubt that is going to happen soon, but it wont take trillions of years
A little bird told me that matter will not matter in the future......
Something about some types of gasses or whatever ......
It takes many trillions of years to hack one wallet.
n00b/troll: But what if I had a room full of really fast celerons???
It takes many trillions of years to hack one wallet.
n00b/troll: But what if I had 2 rooms full of really fast celerons???
It takes many trillions of years to hack one wallet.
n00b/troll: But what if I had a warehouse full of really fast celerons???
It takes many trillions of years to hack one wallet.
n00b/troll: And overclocked them???
It takes many trillions of years to hack one wallet.
n00b/troll: But I don't get it, bitcoin uses big numbers, computers can do big numbers, I can't even be bothered counting to a thousand and that's big. So if I get like a THOUSAND really fast computers, like an Alienware or some shit, I am sure I'd pwn all the bitcoins.
It takes many trillions of years to hack one wallet.
It takes many trillions of years to hack one wallet.
A Bitcoin mining pool, called GHash and operated by an anonymous entity called CEX.io, just reached 51% of total network mining power today. Bitcoin is no longer decentralized. GHash can control Bitcoin transactions.
Definitely mining is way better, hacking with processing power is waste of resources.
agreed, infinite amount of computing power btc would not be your main obective... if you had that you could just mine them and i guess steal them if you wanted and get them all and they would then be worthless so you wasted all this imaginary computer power to turn gold into mud :-P
That is the beauty of bitcoin, if you have enough "power" to corrupt the system, then would you also destroy the system, making your scam-profit worthless. Satoshi mention this in the white paper when he explains the security of PoW.
but there are people out there who just "want to watch the world burn"
sorry.. i correct you
but there are people out there who just "would like to watch the world burn"
just would, because it is impossible...at least in the BITCOIN world
but there are people out there who just "want to watch the world burn"
Indeed, but remember that the majority of the bitcoin users want to protect the system.
In case someone get enough hashpower to destroy the system, then can "we" (the honest users), just fork the block chain e.g. with a new algo (as already mentioned), the honest user will follow the new chain, and the terrorist can stay on his corrupted chain, alone with all his worthless coins.
agreed, infinite amount of computing power btc would not be your main obective... if you had that you could just mine them and i guess steal them if you wanted and get them all and they would then be worthless so you wasted all this imaginary computer power to turn gold into mud :-P
That is the beauty of bitcoin, if you have enough "power" to corrupt the system, then would you also destroy the system, making your scam-profit worthless. Satoshi mention this in the white paper when he explains the security of PoW.
but there are people out there who just "want to watch the world burn"
agreed, infinite amount of computing power btc would not be your main obective... if you had that you could just mine them and i guess steal them if you wanted and get them all and they would then be worthless so you wasted all this imaginary computer power to turn gold into mud :-P
That is the beauty of bitcoin, if you have enough "power" to corrupt the system, then would you also destroy the system, making your scam-profit worthless. Satoshi mention this in the white paper when he explains the security of PoW.
Where is the user, with this nice little picture about what amount of energy you would need for that ?
"Someone summoned me"
Are you thinking of this one?
http://miguelmoreno.net/wp-content/uploads/2013/05/fYFBsqp.jpg
I love this picture, I should bookmark it ^^
Yes, it really but things in perspective.
Also help illustrate how big of a number 2^256 is, most people have an idea that it is big, but not how big it really is.
As a side note: the number space of bitcoin private keys are "only" 2^160, since capital "O", the capital "I" and the lowercase "l", as well as the number "0" is excluded.
But 2^160 is till a very very very very very large number.
It's almost impossible , you can't live "for ever". This is a great image that explain you better :
Thanks to @TookDk.
Hi!!!
nice to read this!!!
this is my first post and i'm really curious to know from you where do you get this article?
I've heard it explained to me before that the number of possible bitcoin addresses is equal to "if all of the grains of sand on earth were annoter earth then all the gfrains of sands on all those earths... that is alot to sift through
agreed, infinite amount of computing power btc would not be your main obective... if you had that you could just mine them and i guess steal them if you wanted and get them all and they would then be worthless so you wasted all this imaginary computer power to turn gold into mud :-P
Hi!!!
nice to read this!!!
this is my first post and i'm really curious to know from you where do you get this article?
nice to read this!!!
this is my first post and i'm really curious to know from you where do you get this article?
I found it by a simple google image search with the following search parameters
bruteforce bitcoin energy
The picture is rather "old" and well known, I do not know the author.
Where is the user, with this nice little picture about what amount of energy you would need for that ?
"Someone summoned me"
Are you thinking of this one?
http://miguelmoreno.net/wp-content/uploads/2013/05/fYFBsqp.jpg
I love this picture, I should bookmark it ^^
Yes, it really but things in perspective.
Also help illustrate how big of a number 2^256 is, most people have an idea that it is big, but not how big it really is.
As a side note: the number space of bitcoin private keys are "only" 2^160, since capital "O", the capital "I" and the lowercase "l", as well as the number "0" is excluded.
But 2^160 is till a very very very very very large number.
It's almost impossible , you can't live "for ever". This is a great image that explain you better :
Thanks to @TookDk.
Hi!!!
nice to read this!!!
this is my first post and i'm really curious to know from you where do you get this article?
If Btc is to be the future then it needs to be future proof. How fast will Quantum computers be in 20 years time? What if we had two suns could we multi thread it?
You add a single IF conditional line in the bitcoin core, specifying a block number. After this line, you specify that the hash verification function is one that uses 50-100% more bit entropy, increasing the security by all atoms times all atoms in the Universe to unimaginable efforts.And then we use bitcoin just like before, except miners will have to use this new algorithm, it doesn't matter what computers we use, we can always pick something that can resist for 5-10 years ahead.
interesting.
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