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Thread: When Bitcoin bursts it will be disastrous’? To Hit $40k to $100k in 2018?

  1. #41
    Bitcoin Miner Ares's Avatar
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    Re: When Bitcoin bursts it will be disastrous’? To Hit $40k to $100k in 2018?

    Quote Originally Posted by Jewboo View Post
    No, just the immediate strike zone. The Bitcoin network would still be functional in other countries that were not hit China, Russia, hell even North Korea has been accused of using Bitcoin to side step sanctions.
    "Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
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  2. #42
    .999 Unobtanium Horn's Avatar
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    Re: When Bitcoin bursts it will be disastrous’? To Hit $40k to $100k in 2018?

    Its possible someday that I move into numismatic bitcoin field and pickup only those ones that people have drawn some hieroglyphs on.

    I guess I could form some sort of boolean search rhythm to hone in on those specifically.

  3. #43
    Bitcoin Miner Ares's Avatar
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    Re: When Bitcoin bursts it will be disastrous’? To Hit $40k to $100k in 2018?

    Quote Originally Posted by Horn View Post
    Its possible someday that I move into numismatic bitcoin field and pickup only those ones that people have drawn some hieroglyphs on.

    I guess I could form some sort of boolean search rhythm to hone in on those specifically.
    Someone did that once and cracked some brain wallets. Brain wallets are a little different, and you create your own pass phrase instead of one being randomly generated. The author of the program found that people like to use the same words "love, person, butterfly etc" and he was able to crack a few wallets because of poorly chosen words to generate the private key.

    The private keys themselves as far as I know have never been cracked. SHA-256 is notoriously difficult to crack and I believe that is why Satoshi chose it as the standard by which to secure the protocol.

    As an example, here is a Bitcoin public address:

    1EHNa6Q4Jz2uvNExL497mE43ikXhwF6kZm

    Here is that addresses private key:

    5HpHagT65TZzG1PH3CSu63k8DbpvD8s5ip4nEB3kEsreAnchuD f

    There is nothing in this address so no crypto assets to take. It was actually generated here: http://directory.io/

    That site was created to demonstrate (as well as a little humor) to show how secure the Bitcoin security protocol is.

    Bitcoin private key database

    Page 1 out of 90462569716653277674664832038037428010029347093027 2690489102837043110636675

    He literally generated that many public/private keys and not a single one corresponds to a live wallet.
    "Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
    "The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
    "Some Libertarians are born, the government makes the rest."
    "Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."

  4. #44
    Iridium Jewboo's Avatar
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    Re: When Bitcoin bursts it will be disastrous’? To Hit $40k to $100k in 2018?

    Quote Originally Posted by Ares View Post
    ...Bitcoin is just a medium of exchange, not a store of wealth thats what physical metals are for...The number of crypto currencies increase literally by the day, and I see that as a good thing...
    https://s.blogcdn.com/www.dailyfinan...re-cashier.jpg

    Understand your own sig line:
    "Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
    Nobody is pretending that Bitcoins are "just a medium of exchange" or a commonly-accepted currency. The transaction time takes far to long.
    I'm the infamous Fred of GIM - Jewboo kindly turned over his account to me.

  5. #45
    Bitcoin Miner Ares's Avatar
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    Re: When Bitcoin bursts it will be disastrous’? To Hit $40k to $100k in 2018?

    Quote Originally Posted by Jewboo View Post
    https://s.blogcdn.com/www.dailyfinan...re-cashier.jpg

    Understand your own sig line:

    Nobody is pretending that Bitcoins are "just a medium of exchange" or a commonly-accepted currency. The transaction time takes far to long.
    Why I see Bitcoin getting used for large transactions. Possibly international settlements. Those types of transactions even an hour or 2 is better than a month to complete the settlement.
    "Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
    "The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
    "Some Libertarians are born, the government makes the rest."
    "Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."

  6. #46
    Iridium Jewboo's Avatar
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    Re: When Bitcoin bursts it will be disastrous’? To Hit $40k to $100k in 2018?

    Quote Originally Posted by Ares View Post
    ...The Bitcoin network would still be functional in other countries that were not hit...
    https://i.ytimg.com/vi/q7q39ZGWcCQ/hqdefault.jpg

    One burst and nobody on this map can contact other countries.

    I'm the infamous Fred of GIM - Jewboo kindly turned over his account to me.

  7. #47
    Iridium Jewboo's Avatar
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    Re: When Bitcoin bursts it will be disastrous’? To Hit $40k to $100k in 2018?

    My bedtime Ares. Thanks for the exchange.

    I'm the infamous Fred of GIM - Jewboo kindly turned over his account to me.

  8. The Following User Says Thank You to Jewboo For This Useful Post:

    Ares (9th December 2017)

  9. #48
    .999 Unobtanium Horn's Avatar
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    Re: When Bitcoin bursts it will be disastrous’? To Hit $40k to $100k in 2018?

    Quote Originally Posted by vacuum View Post
    (2) As soon as he starts cashing in and reveals his identity, then he has to worry about taxes, ransom, theft, being targeted, hacked, etc. Its simply easier to do nothing, for now.
    I like to think that Satoshi is alive and just waiting for it to go to $5

    so he can sell his as some sort of Signature Selected "Greatest Hits" premium priced $10 Bitcoin.

    http://i.imgur.com/QS4doDk.png


  10. #49
    Unobtanium singular_me's Avatar
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    Re: When Bitcoin bursts it will be disastrous’? To Hit $40k to $100k in 2018?

    The Hacker News: Researchers Crack 1024-bit RSA Encryption in GnuPG Crypto Library, which states, “The attack allows an attacker to extract the secret crypto key from a system by analyzing the pattern of memory utilization or the electromagnetic outputs of the device that are emitted during the decryption process.” Think cryptography is bulletproof? Think again… https://thehackernews.com/2017/07/gn...ncryption.html

    bullishness created by satoshi ghost vs the voice of reason? The claptrap will be revealed right after the planet will have gone digital/cashless, then the inferno will start


    Bitcoin/Cryptocurrency is a Government Conspiracy (2017)
    https://www.youtube.com/watch?v=-yjrmIIpgo0



    FROM COMMENT SECTION

    1 month ago
    Bank of England:

    “We are undertaking a multi-year research programme into the implications of a central bank, like the Bank of England, issuing a digital currency. We first raised the possibility of a central bank-issued digital currency in our research agenda in February 2015. We have since released a more detailed selection of research questions on the topic. We welcome continued engagement from the wider central banking and academic community to shape our research in this emerging field.”

    Swiss National Bank:

    "At a global level, there is an urgent need for regulatory clarity given the growth of the market," said Daniel Heller, Visiting Fellow at the Peterson Institute for International Economics and previously head of financial stability at the Swiss National Bank.

    The Bank of Russia:

    Speaking on behalf of the Central Bank of the Russian Federation, deputy governor Olga Skorobogatova, said, "Regulators of all countries agree that it’s time to develop national cryptocurrencies, this is the future. Every country will decide on specific time frames. After our pilot projects we will understand what system we could use in our case for our national currency."

    The Bank of Finland:

    The Bank of Finland authored a discussion paper with academics from Columbia University highlighting the pros and cons of cryptocurrency implementation. The paper described the economic system behind cryptocurrency as “revolutionary.”

    Central Bank of The Netherlands:

    Tested “DNBCoin,” a prototype national crypto in 2015.

    Indian Central Bank:

    According to a senior official from the Reserve Bank of India, the central bank is examining a cryptocurrency alternative to the rupee. Speaking at the India FinTech Day conference, executive director Sudarshan Sen simultaneously conveyed concerns about non-fiat cryptocurrencies, like bitcoin.

    Austrian Central Bank:

    Governor of the Austrian Central Bank, Ewald Nowotny, warned users about the speculative nature of virtual currency. Nowotny also serves as a member of the governing council of the European Central Bank (ECB).

    Central Bank of Singapore:

    Project Ubin placed “a tokenized form of the Singapore Dollar (SGD) on a DLT.”

    Swedish Central Bank:

    The use of banknotes and coins is declining in Swedish society. At the same time, virtual currencies and payment methods are undergoing rapid technological development. The Riksbank will now investigate whether kronor need to be issued in electronic form.

    Central Bank of Venezuela:

    Venezuela has begun to explore the possibility of deploying a state-backed cryptocurrency as a strategy to improve its ailing economy.

    People’s Bank of China:

    Though the PBoC has been cracking down on token offerings and crypto trading, it has done trials with prototype national crypto and also funds the Chinese Digital Currency Research Institute.

    European Central Bank:

    The ECB is currently debating the possibility of implementing legal restrictions for cryptocurrencies.

    US Federal Reserve:

    Financial Action Task Force Governor Jerome Powell said in March that the US central bank is not considering a digital currency, due to “significant policy issues”

    Bank of Canada:

    The Central Bank of Canada recently demonstrated prototype DLT wholesale payment systems that handle clearing and settling simultaneously. Despite making advances with “Project Jasper,” Canada is waiting for the technology to mature.

    Central Bank of Samoa:

    The Central Bank of Samoa has cautioned its citizens about scams utilizing cryptocurrencies.

    Central Bank of Barbados:

    The Central Bank of Barbados authored a case study analyzing adding cryptocurrencies to the island’s portfolio of international reserve currencies.

    The Albanian Central Bank:

    The Albanian Cnetral Bank has cautioned its citizens about some of the financial risks associated with cryptocurrencies.

    The Bank of Namibia:

    The Bank of Namibia announced that it considers the spending of cryptocurrency within the nation to be illegal.

    Nigerian Central Bank:

    Following cautious considerations, the Central Bank of Nigeria has commenced arrangements to introduce its own digital currency.

    Malaysian Central Bank:

    The governor of Bank Negara Malaysia announced the central bank’s intention to issue cryptocurrencies guidelines.

    Central Bank of Brazil:

    Seeking to study distributed ledger technology, the Central Bank of Brazil tested prototypes for an Alternative System for Transactions Settlement on Ethereum-based BlockApps and Quorum, as well as on HyperLedger, Fabric, and Corda.

    Philippines Central Bank:

    Nestor Espenilla Jr., governor of BSP, stated, “We see a rapid increase in the trajectory [of virtual currency]. It is coming from a small base but increasing. That is why we decided to require [the exchanges] to register.” Espenilla added that the exchanges are locally based but have international roots.

    UAE Central Bank:

    Central Bank of the UAE Governor, Mubarak Rashid al-Mansouri said of his bank’s guidance, “The core objective of this framework is to facilitate robust adoption of digital payments across the UAE in a secure manner whilst promoting the highest levels of consumer protection and financial stability.”

    Ukraine Central Bank:

    In his statement, Churiy references the diverse cryptocurrency regulatory schemes currently employed by the European Union, Israel, Japan, Australia, Canada, and the People’s Bank of China. He notes that discordant regulatory schemes around the world have made it difficult to give bitcoin a definite status in Ukraine. The FSC’s meeting should generate needed dialogue, if not a resolution.
    All the money that exists cannot buy Earth, and the evidence is that we destroy our habitat as a result, thinking that we can just seize and pillage as we see fit. If crowds endorse the pursuit of wealth at their own level, they cannot prevent multinationals from doing exactly the same. The “dystopian endless growth paradigm” is going to end with a bang but will open the door to a premise endorsing that Earth is the only wealth we truly have while journeying through life.

  11. #50
    Dangerous Donald Neuro's Avatar
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    Re: When Bitcoin bursts it will be disastrous’? To Hit $40k to $100k in 2018?

    Quote Originally Posted by Ares View Post
    Why I see Bitcoin getting used for large transactions. Possibly international settlements. Those types of transactions even an hour or 2 is better than a month to complete the settlement.
    Yeah, but then you have the issue of the volatility, which makes it unsuitable for large settlements/transactions.
    Cultural Marxism: -The idea that good, hard working, white people should pay for those who are not, and thus in the name of equality create the conditions for their own genetic annihilation

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