Quote from: philipma1957 on Today at 03:18:49 AM

Just use pos

Piece of shit

fits all staked coins as a bonus along with all assholes that need to be putdown.

BTW savetherainforest main point is BTC will fail one day.

he is spot on, but the point of failure will likely be more than 50 to 100 years from now.

most pow coins will fail as cryptology will likely fail with the invention of some new math.

Erm... there are some misunderstandings in your above statement. POW does not have to use any cryptography. Bitcoin uses SHA-256, which is a cryptographic primitive, but really cryptography, per se. And POW can use MANY sorts of functions. Some of them more or less cryptography. Monero for example uses a novel ASIC resistant POW algorithm. And if for some reason someone "broke" SHA-256 (part of the SHA2 standard) then we could most likely swap straight into SHA3 pretty safely, and very quickly, though it would be a hard fork, and very disruptive. Satoshi actually addressed this on these forums.

Quote from: satoshi on July 16, 2010, 04:13:53 PM

SHA256 is not like the step from 128 bit to 160 bit.

To use an analogy, it's more like the step from 32-bit to 64-bit address space. We quickly ran out of address space with 16-bit computers, we ran out of address space with 32-bit computers at 4GB, that doesn't mean we're going to run out again with 64-bit anytime soon.

SHA256 is not going to be broken by Moore's law computational improvements in our lifetimes. If it's going to get broken, it'll be by some breakthrough cracking method. An attack that could so thoroughly vanquish SHA256 to bring it within computationally tractable range has a good chance of clobbering SHA512 too.

If we see a weakness in SHA256 coming gradually, we can transition to a new hash function after a certain block number. Everyone would have to upgrade their software by that block number. The new software would keep a new hash of all the old blocks to make sure they're not replaced with another block with the same old hash.