What spells the end | Bitcointalksearch.org

R2D221

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Quote from: ChuckBuck on September 10, 2014, 07:38:59 AM

You think someone is going to wait in a Starbucks for a single cup of coffee for 1 or 2 confirmations if they paid using their mobile phone wallet? Especially with Apple Pay simplifying mobile pay, competing technologies have to step up.

Bitcoin is still crawling, we need it to walk, talk, and eventually run, from this Beta/Toddler phase.

If done correctly, a merchant can accept 0-confirmation payments with no risk. In the Starbucks example, it would be way more expensive to manage a double spend attack than the price of the coffee.

ChuckBuck

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better everyday ♥

Quote from: Meuh6879 on September 09, 2014, 03:54:15 PM

Quote from: ChuckBuck on September 09, 2014, 09:06:28 AM

Windows XP

sorry, but in industrie ... even windows CE work very well with internal net (like canbus or I²C).
monetary system must be strong ... not new every years.

android is the same since 5 years now.
the apps that i have found ... is always here now.

and macox ? (oh hell, no...)
and apple ios ? (well ... the freeze and don't work ... iOS7 ~~needed~~ gun on your head)

Grin

https://www.youtube.com/watch?v=ks-N4rI_1RU

the last one is not an industrie ... it's an hobby.
and even hobbyist are more industrial way than apple in many factories.

I'm not comparing the quality of the products or each release. If you hate certain companies or operating systems, that's just your opinion.

Fact of the matter is, technology progresses over time, and in theory at least, the next version builds upons and improves the former.

No way can Bitcoin can stay stagnant without further development, bug fixes, and innovation. You think someone is going to wait in a Starbucks for a single cup of coffee for 1 or 2 confirmations if they paid using their mobile phone wallet? Especially with Apple Pay simplifying mobile pay, competing technologies have to step up.

Bitcoin is still crawling, we need it to walk, talk, and eventually run, from this Beta/Toddler phase.

Meuh6879

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Quote from: ChuckBuck on September 09, 2014, 09:06:28 AM

Windows XP

sorry, but in industrie ... even windows CE work very well with internal net (like canbus or I²C).
monetary system must be strong ... not new every years.

android is the same since 5 years now.
the apps that i have found ... is always here now.

and macox ? (oh hell, no...)
and apple ios ? (well ... the freeze and don't work ... iOS7 ~~needed~~ gun on your head)

Grin

https://www.youtube.com/watch?v=ks-N4rI_1RU

the last one is not an industrie ... it's an hobby.
and even hobbyist are more industrial way than apple in many factories.

dnydublin12

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Quote from: 9kv on September 09, 2014, 09:21:11 AM

Quote from: dnydublin12 on September 07, 2014, 11:12:49 AM

1. 50.1% attack

Read the whitepaper!

A 51% attack to double spend would be less profitable than using 51% of computational power to generate legal bitcoins.

Doesn't need to be profitable. Just needs to be worth while to eliminate a competitive threat. Have a look at some of the financial institution profits... I think I read somewhere to launch such an attack would be 500 million. Its really not much in that world

cyberpinoy

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Quote from: Datcracktho on September 08, 2014, 01:37:29 PM

Satoshi is a genius. Bitcoin is uncorruptible, unbeatable, perfection. No such as end of Bitcoin.

What spells the end one word

D E M A N D

there si no true demand for bitcoin or any other crypto currency, thuis why the banks continue to let our escapade continue, with no real demand the value will continue to decrease. if no one has a reason to buy bitcoin other than hope its market value willincrese, no one is going to buy it. why buy something you can get for free. There a but ton of faucets, and ways around all of thier time stamps and captchas. you can solo mine crappy script coins with GPus and even CPUs and tradethem for Bitcoins.

no one ever wakes up one day and says any of the following phrases

"OOOH I want that product right there, but damn the only way to get it is buy bitcoins I guess I will buy a few just in case there is another product that comes up i can only buy with bitcoins"

"OOOH I needlike 3 of these products and WOW they are waaaay cheaper if I use bitcoins to purchase them, I will go get some bitcoins now so i can get them cheaper"

"OOOH I think today I am gonna buy some bitcoins"

"OOOH I am a huge investor I love high dollar short term profitable investment trades I am going to buy a lot of bitcoins today"

There is no real demand for bitcoin thus spells your failure you are seeking.

ChuckBuck

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Quote from: R2D221 on September 09, 2014, 09:19:38 AM

Quote from: ChuckBuck on September 09, 2014, 09:06:28 AM

Bitcoin 2.0 spells the end of Bitcoin.

It's inevitable. HTML5. IE7,8,9,10,11,12. Android Froyo, Gingerbread, Honeycomb, Ice Cream Sandwich, Jelly Bean, KitKat. Windows XP, Vista, 7, 8, 9. OSX Snow Leopard, Lion, Mountain Lion, Mavericks, Yosemite.

Bitcoin will end, it's just a matter of when the next iteration of it will be developed. All of it's core properties intact, but with none of it's shortcomings. Like all technology, it will evolve eventually.

We need to get to Bitcoin 1.0 first.

Exactly. We're effectively in Beta, as current Bitcoin Core version is 0.9.2.1.

We're in very early days, so I don't think we'll see Bitcoin's true potential for another few years.

9kv

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Learning

Quote from: dnydublin12 on September 07, 2014, 11:12:49 AM

1. 50.1% attack

Read the whitepaper!

A 51% attack to double spend would be less profitable than using 51% of computational power to generate legal bitcoins.

R2D221

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Activity: 658

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Quote from: ChuckBuck on September 09, 2014, 09:06:28 AM

Bitcoin 2.0 spells the end of Bitcoin.

It's inevitable. HTML5. IE7,8,9,10,11,12. Android Froyo, Gingerbread, Honeycomb, Ice Cream Sandwich, Jelly Bean, KitKat. Windows XP, Vista, 7, 8, 9. OSX Snow Leopard, Lion, Mountain Lion, Mavericks, Yosemite.

Bitcoin will end, it's just a matter of when the next iteration of it will be developed. All of it's core properties intact, but with none of it's shortcomings. Like all technology, it will evolve eventually.

We need to get to Bitcoin 1.0 first.

ChuckBuck

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better everyday ♥

Bitcoin 2.0 spells the end of Bitcoin.

It's inevitable. HTML5. IE7,8,9,10,11,12. Android Froyo, Gingerbread, Honeycomb, Ice Cream Sandwich, Jelly Bean, KitKat. Windows XP, Vista, 7, 8, 9. OSX Snow Leopard, Lion, Mountain Lion, Mavericks, Yosemite.

Bitcoin will end, it's just a matter of when the next iteration of it will be developed. All of it's core properties intact, but with none of it's shortcomings. Like all technology, it will evolve eventually.

R2D221

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Quote from: dnydublin12 on September 08, 2014, 11:47:42 AM

So to bring it all together...

0. new bug found in bitcoin core, which worries people
1. bitcoin value decreases
2. everyone rushes to spend them/convert back to Fiat
3. as prices drop miners profit gone so they abandon processing and shutdown operation
4. network becomes very susceptable to 50.1% attack
5. hacker/gloryhunter who wants to be the one to bring down bitcoin launches an attack (or anyone/any company whose interests are threatented by bitcoin success)
6. alternative cryto PoS or PoW which isn't susceptable to centralisation problems reboots the system
7. alternative is more widely spread in terms of ownership and more secure
8. off we go again

You forgot:

0. new bug found in bitcoin core, which worries people
1. commit is made fixing the bug as soon as possible

Marlo Stanfield

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Quote from: panju1 on September 08, 2014, 07:50:07 PM

Quote from: BittBurger on September 08, 2014, 01:59:18 PM

Quote from: dnydublin12 on September 07, 2014, 11:12:49 AM

4. Better competitor crypto currency with some technical advantage, like speed - Could ethereum replace bitcoin?

This. With a slight twist. Inefficient forward-progress of Bitcoin development, innovation, and protocol enhancements. This is my concern.

-B-

Valid concern. So much money flowing into bitcoin ventures, but so little into protocol development. Angry

It is kind of amazing that this 6 billion dollar mammoth is head together by a few overworked and underpaid people, isn't it? Tongue

panju1

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Quote from: BittBurger on September 08, 2014, 01:59:18 PM

Quote from: dnydublin12 on September 07, 2014, 11:12:49 AM

4. Better competitor crypto currency with some technical advantage, like speed - Could ethereum replace bitcoin?

This. With a slight twist. Inefficient forward-progress of Bitcoin development, innovation, and protocol enhancements. This is my concern.

-B-

Valid concern. So much money flowing into bitcoin ventures, but so little into protocol development. Angry

Marlo Stanfield

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Bitcoin might stagnate and become a bit dusty over time, but a big subsection of society assign some value to it now. So even if it slowly fades away people might use it as a store of value. Like gold or silver.

BittBurger

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Quote from: dnydublin12 on September 07, 2014, 11:12:49 AM

4. Better competitor crypto currency with some technical advantage, like speed - Could ethereum replace bitcoin?

This. With a slight twist. Inefficient forward-progress of Bitcoin development, innovation, and protocol enhancements. This is my concern.

-B-

Datcracktho

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Satoshi is a genius. Bitcoin is uncorruptible, unbeatable, perfection. No such as end of Bitcoin.

dnydublin12

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Activity: 29

Merit: 0

Quote from: panju1 on September 08, 2014, 11:32:15 AM

Quote from: dnydublin12 on September 08, 2014, 03:17:18 AM

Quote from: bbit on September 07, 2014, 09:18:48 PM

People not spending BTC is what I'm going with.

That's an interesting one. You mean everyone just sitting on their coins, meaning there is no circulation and it ceases to operate as currency, which in turn causes it's value to decrease. Hadn't thought of that one, but it is a definite possibility, thanks.

If its value decreases, everybody would rush to spend them.....

So to bring it all together...

0. new bug found in bitcoin core, which worries people
1. bitcoin value decreases
2. everyone rushes to spend them/convert back to Fiat
3. as prices drop miners profit gone so they abandon processing and shutdown operation
4. network becomes very susceptable to 50.1% attack
5. hacker/gloryhunter who wants to be the one to bring down bitcoin launches an attack (or anyone/any company whose interests are threatented by bitcoin success)
6. alternative cryto PoS or PoW which isn't susceptable to centralisation problems reboots the system
7. alternative is more widely spread in terms of ownership and more secure
8. off we go again

panju1

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Quote from: dnydublin12 on September 08, 2014, 03:17:18 AM

Quote from: bbit on September 07, 2014, 09:18:48 PM

People not spending BTC is what I'm going with.

That's an interesting one. You mean everyone just sitting on their coins, meaning there is no circulation and it ceases to operate as currency, which in turn causes it's value to decrease. Hadn't thought of that one, but it is a definite possibility, thanks.

If its value decreases, everybody would rush to spend them.....

dnydublin12

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Quote from: Brangdon on September 08, 2014, 09:45:57 AM

Quote from: dnydublin12 on September 08, 2014, 09:25:04 AM

"However, proof of stake, as implemented in nearly every currency so far, has one fundamental flaw: as one prominent Bitcoin developer put it, “there’s nothing at stake”."

It turns out that isn't a problem.

Quote

Do you think Ethereum could be the PoS system that suceeds?

I don't know much about Ethereum, but I believe it is not currently planned to be PoS. Generally, about half the top-10 coins are PoS; isn't that success?

Absolutely, didnt mean to imply PoS wasn't a success.

Just googling Ethereum PoS PoW, I think you might be right. They might be a hybrid proof of work system, with elements of Pos design to avoid the centralisation problem.

http://www.reddit.com/r/ethereum/comments/23k1kg/why_did_ethereum_choose_to_use_proof_of_work_as/

Brangdon

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Quote from: dnydublin12 on September 08, 2014, 09:25:04 AM

"However, proof of stake, as implemented in nearly every currency so far, has one fundamental flaw: as one prominent Bitcoin developer put it, “there’s nothing at stake”."

It turns out that isn't a problem.

Quote

Do you think Ethereum could be the PoS system that suceeds?

I don't know much about Ethereum, but I believe it is not currently planned to be PoS. Generally, about half the top-10 coins are PoS; isn't that success?

Jerome?

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Maybe if bitcoin falls below $200, I will be very worried.

Topic: What spells the end (Read 2164 times)