Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 25586. (Read 26610037 times)

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Amusing that you say bitcoin will fail yet assume the transaction volume goes up 100 times

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As an insider i can tell you that JP Morgan pays about 4000$ a month if you provide at least 10 semi quality bearish manipulation posts per day on BCT.
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ok you've got my intention there, this suggest that you have most of the issues figured out, how do you think we will solve:
1-The Block size limit when the number of transaction/minute is 100 times higher than today.
2-The block chain size when it exceeds 200GB or 1TB ? most users or services will have to use clusters of storage, if the adoption rate picks up this has to be fixed really fast.
3-The energy waste, it has been known that when the price goes up mining becomes more profitable and more resources are brought online...resources that most of us consider wasted, as of today the hashrate is more that 250 Petahash/s, assuming that the worst chip on the network consume 0.5w/ghs (which is way too optimistic) this means that at this point miners consume way more than 125 hourly Megawatts... just FYI a typical nuclear plant produce from 500-2000 hourly Megawatts.
4-DDOS attacks: when Bitcoin become bigger, there will be Big services that run the Bitcoind in order to offer their services, organized groups can run denial of service attacks against these services, you can read more about how they can do it in that wiki I provided before.
5-Malleability issue, and don't tell me it is not an issue, because it really is, and it is not fixed yet, they just found some work around it.
6-Double Spending, even if you don't have 51% of the network you can perform double spending with as little as 25% of the network,
7- The 51% attack, we all know what it is, it is achievable, any government can achieve it if they want to kill Bitcoin, even at this point.
8-man in the middle or packet sniffing, also described in that wiki.
There many more issues, but these are the one that concerns me for now. now I would like to hear your solutions.

well I think most of you Bitcoin cultists refuse to be objective, and considering the fact that most of you call Bitcoin the most important innovation after internet, I would just like to point out that TCP/IP protocol didn't change much in a decade or so.... and no, Google is very very bad example in this case, we are talking about protocols that we can build on..

Interesting, thanks. Nothing new though, disinformation is all through history. The Luddite movement is a good example, as a movement the Luddites had nothing against technology, their fight was with the owners and that bit of disinformation has lasted over 200 years.

You are bullish, in this case I'll only give it 4 - 5 years.

Because your credit card company guarantees your CC account.  It gets hacked, you lose nothing.  Bitcoin gets hacked?  A different story

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Again I ask: why should that have anything to do with the price? The price of Euro's doesn't drop if some credit card details are leaked or some bank accounts fished.