BitCoin
So things will be the same.Quote: billryanQuote: AxelWolfPerhaps you can explain how/why FedNow is that much different than PP, Cashapp, Venmo, Zelle, or other payment services? The banks and government will still have "control" of your money. It's centralized where most crypto isn't.Quote: billryanFed Now launched this week. It will take a few years to fully implement, but things will never be the same.
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You just did.
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Satoshi Nakamoto is the person or persons credited with inventing Bitcoin
he or they began working on it in 2007 - released version 0.1 of the Bitcoin software in 2009 - and stopped being active in its development after December of 2010
nobody knows his real identity or even if it's a man or woman or more than one person
pretty fascinating stuff
this is Wiki's breakdown of this person or persons and speculation about what the real identity of this person or persons is:
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https://en.wikipedia.org/wiki/Satoshi_Nakamoto#Possible_identities
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Quote: EvenBobOnce quantum computers become common which will be fairly soon crypto will be a thing of the past because it will be extremely easy to make. A quantum computer can do a math problem that would take a regular computer 10,000 years to complete, a quantum computer can do it in under a minute. Bye bye crypto. It's like when they start mining asteroids which they're looking at doing now, for things like gold, this will make gold on earth almost worthless because there will be too much of it.
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That is like saying money will be worthless because we can mint it faster than 100 years ago.
Quote: AZDuffmanQuote: EvenBobOnce quantum computers become common which will be fairly soon crypto will be a thing of the past because it will be extremely easy to make. A quantum computer can do a math problem that would take a regular computer 10,000 years to complete, a quantum computer can do it in under a minute. Bye bye crypto. It's like when they start mining asteroids which they're looking at doing now, for things like gold, this will make gold on earth almost worthless because there will be too much of it.
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That is like saying money will be worthless because we can mint it faster than 100 years ago.
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It's more like saying somebody will invent a method for making cheap gold and it will make real gold worthless.
I don't think they make Bitcoin, they mine it. I have never heard of quantum computers being a problem for mining, it's probably a thing, I just haven't heard of it. I have seen many flashy headlines about how quantum computers were a security threat to crypto, and most of the articles I read say there are solutions to the potential problem. There's a lot of information addressing those concerns here...Quote: EvenBobOnce quantum computers become common which will be fairly soon crypto will be a thing of the past because it will be extremely easy to make. A quantum computer can do a math problem that would take a regular computer 10,000 years to complete, a quantum computer can do it in under a minute. Bye bye crypto. It's like when they start mining asteroids which they're looking at doing now, for things like gold, this will make gold on earth almost worthless because there will be too much of it.
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https://cointelegraph.com/learn/cryptocurrency-vs-quantum-computing-a-deep-dive-into-the-future-of-cryptocurrencies
Cracking the encryption that safeguards Bitcoin would require inordinate amounts of quantum computing power to be deployed together and controlled by a single entity that orchestrates the attack.
According to researchers at the University of Sussex, a quantum computer with 1.9 billion qubits of processing power would be needed to break into the Bitcoin network within 10 minutes. This would require hackers to deploy millions of quantum computers, a scenario that is highly unlikely for the foreseeable future.
New cryptography concepts such as lattice-based cryptography, in which mathematical noise is added to the encryption to confuse a quantum computer, and quantum-resistant algorithms that rely on math problems are the way forward.
Quote: EvenBobQuote: AZDuffmanQuote: EvenBobOnce quantum computers become common which will be fairly soon crypto will be a thing of the past because it will be extremely easy to make. A quantum computer can do a math problem that would take a regular computer 10,000 years to complete, a quantum computer can do it in under a minute. Bye bye crypto. It's like when they start mining asteroids which they're looking at doing now, for things like gold, this will make gold on earth almost worthless because there will be too much of it.
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That is like saying money will be worthless because we can mint it faster than 100 years ago.
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It's more like saying somebody will invent a method for making cheap gold and it will make real gold worthless.
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No, because Bitcoin is still limited to the same 21 million coins and the same reward rate. Faster computers just get the reward over slower ones. Your example is like saying gold will be worthless because brass was invented and looks like gold.
There was a time "long ago" when Bob was thinking about using BTC for his roulette playing on Bovada. I guess he found it too complicated to buy or somthing like that. I even offered to send him some to make it easy. Assuming an investment of 1k into BTC at that time while making his one unit per day, or whatever he claims, and rolling it back into BTC, I wonder how much that would be worth today. I'm thinking at least enough for 20 fancy cat condos.Quote: AZDuffmanQuote: EvenBobQuote: AZDuffmanQuote: EvenBobOnce quantum computers become common which will be fairly soon crypto will be a thing of the past because it will be extremely easy to make. A quantum computer can do a math problem that would take a regular computer 10,000 years to complete, a quantum computer can do it in under a minute. Bye bye crypto. It's like when they start mining asteroids which they're looking at doing now, for things like gold, this will make gold on earth almost worthless because there will be too much of it.
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That is like saying money will be worthless because we can mint it faster than 100 years ago.
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It's more like saying somebody will invent a method for making cheap gold and it will make real gold worthless.
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No, because Bitcoin is still limited to the same 21 million coins and the same reward rate. Faster computers just get the reward over slower ones. Your example is like saying gold will be worthless because brass was invented and looks like gold.
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Quote:Dismembered body parts of a missing crypto millionaire have been found stuffed in a suitcase by a group of children playing near a stream in Buenos Aires, Argentina, according to police.
Fernando Pérez Algaba — a cryptocurrency influencer and entrepreneur who amassed a fortune by renting luxury vehicles and selling digital coins — first went missing on July 18, per The New York Post, citing police and local media.
The suitcase containing Algaba's remains was found Sunday, while on Wednesday, his head was discovered floating downstream in a rucksack, Metro reported, citing local media and authorities.
Authorities identified Algaba, 41, by his tattoos and fingerprints. An autopsy revealed he had been shot at least three times before the dismemberment took place,
Social media or not, this guy was apparently in debt, had tax/ legal issues, and owed money to a number of people. He even knew people were out to get him.Quote: rxwineProbably has nothing directly to do with Crypto. Maybe some sort of lesson for millionaire influencers with followers on social media.
Quote:Dismembered body parts of a missing crypto millionaire have been found stuffed in a suitcase by a group of children playing near a stream in Buenos Aires, Argentina, according to police.
Fernando Pérez Algaba — a cryptocurrency influencer and entrepreneur who amassed a fortune by renting luxury vehicles and selling digital coins — first went missing on July 18, per The New York Post, citing police and local media.
The suitcase containing Algaba's remains was found Sunday, while on Wednesday, his head was discovered floating downstream in a rucksack, Metro reported, citing local media and authorities.
Authorities identified Algaba, 41, by his tattoos and fingerprints. An autopsy revealed he had been shot at least three times before the dismemberment took place,
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the price of bitcoin jumped as it looks like btc moved closer to being allowed to trade on the U.S. stock market as an ETF
from the article:
"The value of crypto assets surged Tuesday after a US court cleared a path for the nation’s first bitcoin exchange-traded fund.
The ruling is a breakthrough moment for crypto investors and a setback for the Securities and Exchange Commission, which has been trying to rein in the digital asset industry.
The three-judge panel for the DC Court of Appeals overruled an SEC decision denying Grayscale Invesments permission to launch a bitcoin-focused ETF. The panel said the regulator had failed to adequately explain why it rejected the firm’s application.
The ruling opens the door to an investment product that investors have been demanding for years.
"This is a historic milestone for American investors, the Bitcoin ecosystem, and all those who have been advocating for Bitcoin exposure through the added protections of the ETF wrapper,” Grayscale CEO Michael Sonnenshein said in a statement. “It’s incredibly exciting that we are one step closer to making a US spot Bitcoin ETF a reality.”
https://www.cnn.com/2023/08/29/investing/bitcoin-etf-grayscale-crypto/index.html#:~:text=The%20value%20of%20crypto%20assets,in%20the%20digital%20asset%20industry.
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