Topic: Why the long term trend for Bitcoin is up (Read 1340 times)
The long term trend is up, but we also have risk which is the government
Ha, very interesting idea. How about making honeypots, so they think there must be something good inside. They keep hammering away at your server and pay small fees every try. Once they get in they find...nothing! Or even better yet something that gives them the idea that if they keep trying even more there is a massive profit for them once they break through that final hurdle.
When I write this Bitcoin is enjoying the second upward boom. Will it crash again? Perhaps, but even if it does the long term trend is up. Why? Because the Bitcoin infrastructure will make certain things possible that today are impossible. For example, I have some servers on the Internet, and everybody who have notice that there are many attempts to break into your servers by constantly guessing the root password. Yes, there are firewall methods such as fail2ban, but still many attempts occur. So a simple idea I have: Change ssh and sshserver so that every login attempt cost, say 0.1 Bitcoins, and deposit to an account you own. You don't have to wait for confirmation (to avoid the 10 min delay), because the mere risk of losing money will stop all hackers. The sshserver only has to check account balanace and signature, which is an instant operation.
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