Jump to content

Bitcoin!


IAG
 Share

Recommended Posts

  • Replies 388
  • Created
  • Last Reply

Top Posters In This Topic

Bitcoin cannot succeed long term. It is just not possible.

Investors and those who have profited along the way so far may be bullish but the more popular bitcoin becomes, the more it will become popular as a target.

Bitcoin will be attacked, can it survive constant attacks?

Bitcoin relies on miners. Miners basically control bitcoin. There is nothing preventing a large corporation (like a bank) or government from building mining farms and influencing bitcoin.

 

Bitcoin is in beta, many have made money from the experiment so far but will it last? 

 

Currently the vast majority of bitcoin miners are in China. China! Think about that.

Link to comment
Share on other sites

Bitcoin cannot succeed long term. It is just not possible.

Investors and those who have profited along the way so far may be bullish but the more popular bitcoin becomes, the more it will become popular as a target.

Bitcoin will be attacked, can it survive constant attacks?

Bitcoin relies on miners. Miners basically control bitcoin. There is nothing preventing a large corporation (like a bank) or government from building mining farms and influencing bitcoin.

 

Bitcoin is in beta, many have made money from the experiment so far but will it last? 

 

Currently the vast majority of bitcoin miners are in China. China! Think about that.

What kind of attacks are you referring to? Hacking? Propaganda? People have been talking about BTC dying for a decade.

That being said, I can’t keep up with China’s policies on mining. Didn’t they just step up efforts to ban mining? Didn’t they do that a while backalso or was that somewhere or something else?

Link to comment
Share on other sites

Probably talking about a 51% attack.

China has been the biggest miner of BTC for a long time since they manufacture ASIC controllers.

 

I knew they were the largest group(s) in mining....but the government has been pushing to ban mining this year. And I think I was thinking about how they banned exchanges (not mining) in 2017.

 

Hey Monkey, how’s about helping your ol’ pal IAG get her Tezos on an exchange? I will pay you a reasonable fee...just don’t want to try to do it myself and screw it up. I haven’t touched them since the ICO.

Link to comment
Share on other sites

What kind of attacks are you referring to? 

 

 

Probably talking about a 51% attack.

 

China has been the biggest miner of BTC for a long time since they manufacture ASIC controllers.

 

Yes. 51% attack for starters. The USA and other nations have the power to blow countries off the map, literally so rendering bitcoin useless is something I believe a government could accomplish. As long as the big banks and other financial businesses don't feel threatened by bitcoin then it may last. Should some government decide to do irreparable damage to bitcoin I'm sure they could figure out how to do so. 

 

If bitcoin is made a target then we will see if it can sustain attacks from every angle. I wouldn't bet on bitcoin being infallible if it has to go up against something much greater. The future is still unknown.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share


×
×
  • Create New...