Re: The demise of Bitcoin. Biggest threat to Bitcoin and all PoW coins
I don’t want to argue with you. I only want to discuss ideas, so that everyone can learn from our conversation. That is why it is called “Bitcoin Discussion”.
Contradiction much?
It may sound like a fairly tale for you and all the readers. But, all the brilliant ideas were once ridiculed. Few years back, if I told you, I can send sound through a wire or through the air, you would have laughed at me. But today, it is a reality.
A few years? I doubt it, probably a few centuries ago!
Again your comparison is badly chosen.
In your case it's not about not knowing a few hundred years ago that you can send a pulse through a wire, it's about now knowing that there is a huge difference between copper and steel. You're not telling us about flying, you're discussing something that you've measured yourself end expressed in a unit. At this point, you're bound by the same law of physics to respect this when you try to get something out of this. Not measuring the density of gold and claim a car running on gold will be faster than a boat powered by red pandas.
If you only learn what is taught to you on a 6th grade physics book, you will never think outside the box. If a rock emits free, unlimited energy, harnessing that energy to mine bitcoin is a very practical idea. My idea could be complete b.s.
Now finally you've got something right.
No one thinks about harnessing energy from a rock to mine bitcoin.
Just as nobody thinks of harnessing energy from magnets..of wait..
If there is only one known flaw in the bitcoin code, that will be THE flaw that will be exploited one day. It will always be prone to exploitation. Bitcoin’s final block is estimated to be mined in around 2140. Do you really think someone is not going to come up with a brilliant invention that can harness unlimited energy for very low cost? Even if someone finds a way to harness unlimited energy in the year 3000, it is still a problem for bitcoin. Remember, longest chain always wins.
It's a matter of cost.
To attack the network with a 50% attack right now for 24 hours you need 84Gwh of energy that's 1.6 million $ at 2cents per kWh, or lower than what Bruce nuclear powerplant is currently producing.
But in order to do so, you need to get your hands on gear worth 300 million.
[quote author=jabbathe69 link=topic=5300507.msg55874214#msg55874214 date=1608444070
You’ve spent time writing a comment that ridiculed my idea. This only proves one thing to me. It proves that there’s a fragment in your mind that believes what I say makes sense.
[/quote]
You've switched from Tesla to Buddha? No, it proves one thing, that stupid ideas need to be put in their place without mercy.
If you have unlimited free energy, you don’t have to have 1 million ASICs to launch a 51% attack. You would only need one giant ASIC.
You don't know what an ASIC is, do you?