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TumblingBones
TumblingBones
Joined: Dec 25, 2016
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Thanks for this post from:
socks
May 9th, 2017 at 6:57:06 AM permalink
Quote: RS

So I don't really know how bitcoin works (well, I have an idea).....but with the increase in technology and computing power/speed over time, what's this mean for bitcoin?

Let's say 10 years from now BC is absolutely booming and it's everywhere and the main currency and used more often than cash or credit/debit cards. I assume BC could get hacked with improvements in technology. Maybe today it's one of those things where a computer would need 1000 years to hack it....what about 10 years from now?

If so, can BC easily and fluidly be updated, so that there isn't mass chaos if/when it does get hacked?


For those interested in getting a better understanding of this stuff, there is a free Coursera course starting next week on Bitcoins and Cryptocurrency Technologies.
AxelWolf
AxelWolf
Joined: Oct 10, 2012
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May 11th, 2017 at 10:58:38 AM permalink
BC 1854.79
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
Boz
Boz
Joined: Sep 22, 2011
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May 16th, 2017 at 8:51:48 AM permalink
This news will make some like BC even more for the privacy and others hate it but it seems to be the preferred currency of hackers willing to risk Human Lives for ransom.

http://www.cnbc.com/2017/05/15/wannacry-ransomware-hackers-have-only-made-50000-worth-of-bitcoin.html
Tanko
Tanko
Joined: Apr 22, 2013
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May 19th, 2017 at 12:34:44 AM permalink
Quote: AxelWolf

BC 1854.79


Currently $1915.58

Bitcoin's Fatal Flaw?
AxelWolf
AxelWolf
Joined: Oct 10, 2012
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May 19th, 2017 at 3:02:35 AM permalink
Quote: Tanko

Currently $1915.58

Bitcoin's Fatal Flaw?

I think it hit 1930 today? its 1926.99 now.

Due to a complicated situation, I will be slowly receiving payments in bitcoin. I Don't like the current price, but it is what it is, I doubt I will sell them.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
Zuga
Administrator
Zuga
Joined: May 21, 2014
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May 19th, 2017 at 3:38:28 AM permalink
as i mentioned somewhere before, the expert are predicting $3000 wroth by years end. Given the recent boost Im pretty positive it will reach that mark, if not even sooner.
"All it takes for evil to prevail is for good people to do nothing "
Boz
Boz
Joined: Sep 22, 2011
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May 19th, 2017 at 6:53:31 AM permalink
Quote: Zuga

as i mentioned somewhere before, the expert are predicting $3000 wroth by years end. Given the recent boost Im pretty positive it will reach that mark, if not even sooner.



As soon as the "experts" start with TV commercials pushing it as a safe investment like the Gold guys do over here, SELL, SELL, SELL. Sad but may people missed the stock rally and lost hundreds an ounce on their gold plus paid crazy fees just because some over the hill actor played on their fears of an economic collapse.
Wizard
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Wizard
Joined: Oct 14, 2009
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RogerKintBozMaxPenmrsuit31
May 19th, 2017 at 8:02:56 AM permalink
Quote: Zuga

as i mentioned somewhere before, the expert are predicting $3000 wroth by years end. Given the recent boost Im pretty positive it will reach that mark, if not even sooner.



I've said this before but this has all the signs of a hysterical bubble. When it pops it will pop hard. I predict we will see a drop in price of at least 80% in a three-month period at some point in the next three years.
It's not whether you win or lose; it's whether or not you had a good bet.
socks
socks
Joined: Jul 13, 2011
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May 19th, 2017 at 8:52:29 AM permalink
I watch a lot of Peter Thiel(venture capitalist) videos on youtube and he has commented that one of his biggest mistakes was not investing in the second round of facebook. It had gone up so steeply, he sat round 2 out. He has broadened this to say that, in startup investing, when the fundamentals are good, stocks that have seen the steepest climbs turn out to be the most undervalued. I think bitcoin should be a question of what you think the fundamentals are, such as the potential market size given the world's apparently desire for a new scorekeeping system.

Another technology I'm watching in the cypto-decentralizing space is Urbit. I bought a star in a sale to mailing list members this week. There's a public auction later this summer. It's sort of like real estate (to bitcoin's currency) of a new internet organization that solves some of the problems of our current internet.
AxelWolf
AxelWolf
Joined: Oct 10, 2012
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May 19th, 2017 at 5:10:35 PM permalink
1976.01
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪

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