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Author Topic: Bitcoin Discussion  (Read 110940 times)

Online Humble Trader's Fx

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Re: Bitcoin Discussion
« Reply #525 on: March 15, 2019, 01:08:13 PM »
Humble Trader I would say that you are a bit sarcastic and not contributing to solution of the problem for those poor people. Why dont they just find few nice kids who are experts in system hacking and solve the mystery of private key? It is not so complicated. What do you think?

That is the whole premise of my having serious doubts about cryptos, all it takes is a good hacker or a computer which is faster and better, like the upcoming quantum computers and people will lose  their money before you can say Bitcoin.

The problem with the current situation is that each time you try a key and it doesn't work, there is a delay to the server which owns it, after x number of tries, you have to use another computer with another IP address. It is not impossible but it will take ages. And  that is the first step to get the computer which owns the wallets out of cold storage (cold= not connected to physically internet), then you need to start all over again, draining the funds from each wallet with its own key. Hali Luya!  :-X


Regards,
HumbleTrader
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.


Offline oportunis

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Re: Bitcoin Discussion
« Reply #526 on: March 15, 2019, 03:37:19 PM »
Lol, you would need a few million years to hack a random wallet. With no inside information you can forget about it.

Online Humble Trader's Fx

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Re: Bitcoin Discussion
« Reply #527 on: March 15, 2019, 07:31:32 PM »
Lol, you would need a few million years to hack a random wallet. With no inside information you can forget about it.

Maybe a million years or maybe a few seconds; it all depends on the technology at hand and how sophisticated it is or becomes... only "time" will tell.

Regards,
HumbleTrader


We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.


Offline y5nitro

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Re: Bitcoin Discussion
« Reply #528 on: April 11, 2019, 12:37:32 PM »
Technology is developing. Quantum computers still dont have commercial use, but it is only question of time when they will. Another topic is 5G technology that is soon going to be a standard. China is getting prepared to introduce 6G within next few years. Think twice if hacking is not possible

Offline oportunis

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Re: Bitcoin Discussion
« Reply #529 on: April 12, 2019, 10:38:39 AM »
It won't be possible. Crypto can move to quantum coding too...

Offline drunkfx

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Re: Bitcoin Discussion
« Reply #530 on: April 12, 2019, 06:20:41 PM »
What do you mean under quantum coding? It's two different technologies you can't improve anything in crypto (except security ) using quantum computer. As crypto offers volatility we have to take advantage from it and best way to do that is CFD contracts on crypto available in brokers like Tickmill, Hotforex

Offline oportunis

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Re: Bitcoin Discussion
« Reply #531 on: April 12, 2019, 07:07:00 PM »
I mean crypto moves to quantum blockchain. Encryption is done with quantum computers... There was an article, but can't remember where I read it.

Online Humble Trader's Fx

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Re: Bitcoin Discussion
« Reply #532 on: April 12, 2019, 07:34:09 PM »
I mean crypto moves to quantum blockchain. Encryption is done with quantum computers... There was an article, but can't remember where I read it.


I suspect that the application of quantum computers will defeat the ledger system such that keys will be revealed and processed long before traditional computers can complete a single process, thus, the blockchain system will be rendered useless. It will be akin to the current swarming of a server causes the denial of service as used by hackers to overwhelm and cripple any peer to peer system.

Only time will tell. In the meantime keep away from cryptos, unless you like drama and surprises of substantial loss.

Regards,
HumbleTrader
« Last Edit: April 12, 2019, 10:39:29 PM by Humble Trader's Fx »
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.


Offline drunkfx

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Re: Bitcoin Discussion
« Reply #533 on: April 15, 2019, 07:34:22 PM »
I mean crypto moves to quantum blockchain. Encryption is done with quantum computers... There was an article, but can't remember where I read it.

Oh I see, as I said it should be related to achieve better dealing with security issues.

Online Eliza Abrams

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Re: Bitcoin Discussion
« Reply #534 on: April 19, 2019, 02:25:35 PM »
First we're going to need widely available quantum computers, which is not reality yet.

 

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