Quote from: picolo on November 14, 2014, 04:50:36 PM

Quote from: RookieMonster on November 14, 2014, 04:26:33 PM

Quote from: jgray on March 09, 2014, 06:01:52 PM

Hi All,

I have been following Bitcoin for over a year and was the first person ever to put my house for sale for bitcoin.

http://www.cbc.ca/newsblogs/yourcommunity/2013/03/alberta-man-accepting-bitcoins-in-exchange-for-home.html

Not sure if you followed my story from a year ago, but the house just sold on Friday, and will make the news tomorrow I suspect. When the house closed on Friday I got approximately 648 BTC for my house which is based on prices over the past 6 months when the deal was actively negotiated, legal fees, realtor fees, and a bunch of contract wording that I frankly don't understand. I am now all in! I really believe in bitcoin. It is the future of the world. I look forward to the continued price increase and one day I plan to own my own island. I will truly be a bitcoin billionaire by the time I am 25 I believe. This house was inherited from my father who passed away a few years ago and he always believed in me and told me I would make it big one day and so I shall. Wish me luck

Tay More

This is the most foolish thing I've read in a great deal of time. If you could not tempt the gods of poetic justice into crashing the price of BTC.

Do you have any idea of the real underlying threats to BTC. I, for one, think it's fantastic and have more faith than most but any number of serious threats could be lurking even now.

A 51% attack is not completely ruled out. Most medium sized governments could make short work of the BTC blockchain is they felt inclined.

Quantum Computing will obliterate the elliptical cryptography algorithms that underlie BTC.

We've had a persistent and undivided downward trend for 11 months now.

Invest by all means, but you must have balls of steal and a brain of brass to go with them.

He made a very risky investment but the 51% attack is almost totally ruled out, the Quatum computing is not there yet and it would kill all encryption so it would be a problem for all corporations, governments and citizens, not just Bitcoin

'Risky investment' is correct but sterile language for something just quite that risky. Just the general decline in prices will have you after a while.

51% attack is very nearly ruled out assuming that there's no concerted effort by a government agency. 300 million GH/s is a lot (https://blockchain.info/charts/hash-rate) and outranks all supercomputers but countries like the US and China almost certainly have comparable hashing power available to them if needed. That's speculative but it's not wild.

Quantum Computing just kills anything built on ECC; what I worry about is it being developed in secret for its capacity to just that. I'm no tin-hat-Harry but it's very plausible and it makes Bitcoin worth $0.

RookieMonster

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