Post
Topic
Board Bitcoin Discussion
Re: FACT CHECK: Bitcoin Blockchain will be 700GB in 4 Years
by
vhaasteren
on 10/09/2016, 20:37:06 UTC

Wrong.

You could have been right though, if you were aware of some mathematical facts:

https://ip.bitcointalk.org/?u=http%3A%2F%2Fi.imgur.com%2FfYFBsqp.jpg&t=568&c=eyDijE3i8fSqag

What we do know is that internet speed is advancing at a rate nowhere close to the rate the Blockchain is growing, I hope people have prepared for themselves some real life hobbies, especially since downloading the Blockchain will become a long process (taking a couple of weeks), andBitcointalk.org will experience more DDoS attacks.

Re the info-graphic.

Even though that info-graphic is widely circulated on these forums, unfortunately it is wrong. Bitcoin only has 160 bits of security. The private key is 256 bits, but we are only using a 160 bit hash for the bitcoin address. So there are many many private keys associated with the same bitcoin address.

160 bits of security is still a lot (and due to the hashing, we know of no Quantum Computing algorithm that can crack bitcoin even if they had the computing power), but it is not strictly true that thermodynamics puts a limit on cracking bitcoin as is said on the info-graphic.