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My problem is I don’t have new money coming in so I will have to sell something to buy more.
I’m retired from working.
I love all this talk about "securing bitcoin". Can't make more of it.. lol.. while ignoring the 15k other digital currencies that everyone simply makes more of.
FJB saysThis is upgradeable if say, super duper computers become common. Reality that's what everyone has been trying to do for the past decade - break it. Nobody has. There is something called a 51% attack that is more likely but it would require a nation state to buy up all of the high end compute over maybe a 6 month period costing billions. People would notice and the network could be hardened.
spot on. Its more likely that we will see a zombie outbreak or an alien invasion before someone hacks Bitcoin.
350 Years Later, Fermat's Last Theorem Finally Proved
Bitcoin saysFJB saysThis is upgradeable if say, super duper computers become common. Reality that's what everyone has been trying to do for the past decade - break it. Nobody has. There is something called a 51% attack that is more likely but it would require a nation state to buy up all of the high end compute over maybe a 6 month period costing billions. People would notice and the network could be hardened.
spot on. Its more likely that we will see a zombie outbreak or an alien invasion before someone hacks Bitcoin.
I don't see how you can be sure of that.
"No one can hack bitcoin"
-- read 15 articles per week about various forms of peoples bitcoin being hacked
"but that's not bitcoin, it's just the ECOSYSTEM!"
BWAHAHAHAHAHAHAHA
I'm not talking about the 51% attack, but instead the ability to hash each block instantly.
When the mining a block the Bitcoin mining algorithm works like this:
1. A block starts out with a header and a single transaction to pay the miner reward. This transaction has a special name (called the “coinbase”).
2. Transactions are added to the block.
3. A block “header” of fixed length is formed by doing cryptographic hashes of the transactions (called the Merkle root).
4. Mining uses SHA256 cryptography which breaks the data up into 64 byte chunks and operates on each chunk so there are 2 chunks and 2 steps to the SHA256 algorithm in this case.
5. The first sha256 step is performed on the first chunk of the header and that does not change. This is called the “midstate” because it is partway through the SHA256 process which is 2 steps in this case. The “midstate” is sent to the ASIC processor,
6. The second step of SHA256 is done on the second chunk of the header. This includes the nonce field. This is done on the Application Specific Integrated Circuit (ASIC) chip.
7. The entire solution is run through a second round of SHA256 and the solution compared to the difficulty (that is part of the block header). The nonce is returned if it meets the difficulty. This is done on the ASIC chip.
8. The nonce is incremented and the last 2 steps (6 and 7) are done again 2**32 times to exhaust all possible nonce values. This is done on the ASIC chip.
9. If no solution is found another nonce contained within the coinbase transaction is incremented. This changes the hash of the coinbase transaction and the merkle root
10. The process goes back to step 5 and continues until a solution is found.
Currently the price is basically set by whatever the miners can get for the artificially scarce "Coin".
up.. no bitcoin hacks ever... the "code" is secure.
The question is, how much you are willing to bet that there is no one smart enough to do it?
350 Years Later, Fermat's Last Theorem Finally Proved
The fact that Bitcoin has no intrinsic value
It is bought and sold for fiat currencies.
Bitcoin saysThat's why this thread is called Bitcoin misinformation :)
LOL so true!
FJB saysBitcoin saysThat's why this thread is called Bitcoin misinformation :)
LOL so true!
This chart, or one like it, was introduced by user bitcoin.
Onvacation saysThe fact that Bitcoin has no intrinsic value
False... But I get it, you're thinking in the physical world....
Bitcoin saysThat's why this thread is called Bitcoin misinformation :)
LOL so true!
I'm still trying to understand why you 2 guys are hyping bitcoin so much? To what point?
No anonymity is possible
Zak saysNo anonymity is possible
you Bitcoin haters should make up your mind.....on the one hand side you are saying only criminals use Bitcoin on the other side you say when you use Bitcoin your identity gets revealed. So which one is it?
All we do is correct the misinformation that OV spreads. Correcting someone on false statements isnt hyping.
Bitcoin saysAll we do is correct the misinformation that OV spreads. Correcting someone on false statements isnt hyping.
Bitcoin saysAll we do is correct the misinformation that OV spreads. Correcting someone on false statements isnt hyping.
Ok, why do you waste your time
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https://www.vox.com/2018/4/24/17275202/bitcoin-scam-cryptocurrency-mining-pump-dump-fraud-ico-value