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Post by Chris on Dec 23, 2020 20:39:07 GMT
Unhackable? Really?
Nothing's unhackable.
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Post by MartinT on Dec 23, 2020 20:53:45 GMT
You're right. Blockchain relies on decryption effort being orders of magnitude more difficult to crack than a simple SHA256 encryption. Not unhackable, but probably measurable in thousands of years so not worth the effort as no-one will care by then.
Quantum computing may change that, by using fuzzy logic and unknowable phenomena like entanglement to make computational jumps that linear computers can't make. That's what governments fear.
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Post by user211 on Dec 23, 2020 20:54:00 GMT
Unhackable? Really? Nothing's unhackable. Mathematically it is very improbable. Chris try it and I bet you will never do it before you die. Watch the video on SHA256, and come up with an algorithm that is better than guessing. Humans are always the weak link, so loss of private keys via human weakness i.e. releasing information to criminals is an issue. 5 million Bitcoin private keys have been lost through human stupidity/ignoramce. That's even more of an issue. |
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Post by user211 on Dec 27, 2020 9:26:25 GMT
"Reminder that Lily Allen turned down 200K in Bitcoins for a gig in 2009 which is now worth $4,704,600,000 @ $23.5K per BTC."
It's now $27.5K.
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Post by MikeMusic on Dec 27, 2020 10:44:43 GMT
Ouch
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Post by user211 on Dec 27, 2020 10:51:09 GMT
Words don't really do it:)
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Post by MartinT on Dec 27, 2020 11:52:02 GMT
Judging by her singing ability, I wouldn't give her $150 in any currency for a gig.
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Post by MikeMusic on Dec 27, 2020 12:02:42 GMT
Once upon a time I was looking in the window of Duncan Hamilton car showroom in Bagshot and saw the lovely and wonderful Mercedes 300 SL Gull Wing  Twas a staggering £4750 around 1966 Currently around a million £4750 bought a house then and I was at school so not likely to buy |
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Post by Slinger on Dec 27, 2020 12:28:26 GMT
I tend to agree with Chris. Anything created on a computer can be recreated. The trouble is, we tend to think in terms of "a" computer, or even "a" hacker group, when in actual fact it's likely to be "a" national government with more computing power, time, money, and dodgy intentions at its disposal than we can easily comprehend. To give you some idea - as basically as possible - how much power supercomputers have... China, for instance, has 228 out of the top 500 fastest supercomputers in the world, while America has 124 (those numbers may be a couple of years old). The fastest system (that we know about) was, built by Fujitsu for Japan’s RIKEN Centre for Computational Science, and it posted a maximum sustained performance level of 442,010 teraflops* per second on the Linpack benchmark. I've just started gathering the parts for a new PC build. My chosen CPU has 12 cores. The RIKEN machine has just has 330,000 more cores added to it, which brings it up to 7,299,072 cores. There's a machine in Chine that has 10,649,600 cores. Running the same benchmark my new PC probably won't even reach a single teraflop, let alone 442,010 teraflops. It's not as simple as the numbers make it look, far from it, but it may give you some idea of the computing power available to nations as opposed to you and me, or even Anonymous, Fancy Bear, The Syrian Electronic Army, and other "top" hacker groups. * Teraflop = the ability to process one trillion floating point operations per second. |
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Post by MartinT on Dec 27, 2020 12:44:19 GMT
Wait until China starts seriously developing quantum computers on a giant scale. They probably are already.
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Post by user211 on Dec 27, 2020 13:41:43 GMT
Judging by her singing ability, I wouldn't give her $150 in any currency for a gig. But her lyric writing ability is outstanding and combined with some fab tunes made her. I liked her early material a lot. |
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Post by user211 on Dec 27, 2020 13:45:06 GMT
Wait until China starts seriously developing quantum computers on a giant scale. They probably are already. Then as I said everything financial and secret is a mess, not just Bitcoin. I would wager we are safe from crypto hacking quantum computers for a very long time. |
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Post by mikeyb on Dec 27, 2020 17:08:27 GMT
So that email I'm still getting that tells me I have been credited with bitcoin into my butcoin account means I'm rich?
😂
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Post by user211 on Dec 27, 2020 19:01:32 GMT
So that email I'm still getting that tells me I have been credited with bitcoin into my butcoin account means I'm rich? 😂 Loser. You mean you didn't invest?  Remember, repeat after me: Speculate to accumulate. Invest for interest. It takes money to make money. |
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Post by mikeyb on Dec 27, 2020 19:06:51 GMT
👍😂
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Post by user211 on Dec 27, 2020 19:14:23 GMT
There's a YouTube Ethereum scam that has been going on for months. YT seem to like it.
It goes something like: this is an Ethereum promotion for Eth 2.0. Send money to this address and we will immediately send you back double the amount.
Got to be a winner.
Scams are everywhere. Not just in digital currencies.
However today I took some paid courses and some DeFi currencies look very interesting. Basically they are about getting rid of the middleman, whose only real interest is arguably to make as much money out of your money as possible, and give you as little as possible to keep you vaguely interested.
DeFi is all about getting rid of the middle man and letting the DeFi owners collectively decide what is best for them as a whole by vote.
Now that is new.
Think about it.
The financial world is changing. Stay awake chaps!
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Post by user211 on Dec 27, 2020 19:16:25 GMT
Maybe more interesting. They paid me. I didn't pay them.
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Post by user211 on Dec 30, 2020 20:44:04 GMT
Now bigger than Visa.
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Bitcoin
Jan 2, 2021 18:15:35 GMT
via mobile
Post by julesd68 on Jan 2, 2021 18:15:35 GMT
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Post by robbiegong on Jan 2, 2021 18:47:51 GMT
Yep, I know what you mean, sods law and all that.... |
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