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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


    EMP bomb will wipe out bitcoins worldwide.
    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
    "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."

  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
    Sardonic Observer 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...


    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.
    truth is chased from many villages

  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


    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
    Sardonic Observer 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...


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

    truth is chased from many villages

  7. #47
    Sardonic Observer 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.

    truth is chased from many villages

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  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.




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