Ultimate Bitcoin Thread - Bitcoin rallying | Page 6 | TigerDroppings.com
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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying

quote:

Would a vendor like BitPay be able to process a return/refund situation? I assume it would have to be in fiat currency at the rate locked in at point of sale or the CURRENT equivalent rate of Bitcoins?


That's actually a good question that I don't know the answer to. I will look into it and try to find out.


llfshoals
Alabama Fan
Member since Nov 2010
1401 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying
quote:

Unless you have a few billion years or so to crack the encryption, I'm not worried.


Somehow I doubt it will take that long. Whenever someone thinks they've got the smartest, best crypto-defense imaginable.....some genius decides they just have to prove them wrong.

And does....oh wait, they've already done it a few times.

Pretty nice con someone's running there, just goes to show there's a lot of profit in exploiting stupidity.


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying
quote:

Somehow I doubt it will take that long




Please, I'm all ears. Tell me, in your expert opinion, why you believe that.

quote:

Whenever someone thinks they've got the smartest, best crypto-defense imaginable.....some genius decides they just have to prove them wrong.

And does....oh wait, they've already done it a few times.


The cryptography that bitcoin users is the same that your banks use. It's secure. But you probably still won't believe me.


When I responded to BHP about cracking the encryption of a wallet, I was referring to a data encryption method for storage. It has nothing to do with bitcoin and is a third party technology that many choose to use to further secure their bitcoin data. Most people choose proven industry standards that are also employed by the US government to protect TS and other sensitive data. If you can crack that, then I think we have less to worry about than bitcoin.


BTW, I love how TigerDroppings has so many cryptography and encryption crackers and experts. Who knew you guys were so smart?


Rickety Cricket
Navy Fan
Premium Member
Member since Aug 2007
38445 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying
I'd think it would be on the value at the time of sale, no?


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LSURussian
LSU Fan
Member since Feb 2005
85145 posts
Online

re: Ultimate Bitcoin Thread - Bitcoin rallying
quote:

The cryptography that bitcoin users is the same that your banks use. It's secure. But you probably still won't believe me.



But you have repeatedly said banks are not secure. So, which is it?

quote:

I love how TigerDroppings has so many cryptography and encryption crackers and experts. Who knew you guys were so smart?
I'm smart enough to know that any code can be cracked given enough time and resources to do so. The more resources devoted to cracking a code, the less amount of time needed to do so.


BlackHelicopterPilot
LSU Fan
Top secret lab
Member since Feb 2004
34709 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying
quote:

But you have repeatedly said banks are not secure. So, which is it?



To be fair, he has not said the banks are insecure due to cracking of crypto codes. He says they are compromised by government "control" issues, etc.






LSURussian
LSU Fan
Member since Feb 2005
85145 posts
Online

re: Ultimate Bitcoin Thread - Bitcoin rallying
quote:

he has not said the banks are insecure due to cracking of crypto codes.

Yes, he has. He has posted links to banks being hacked or their customer base info being stolen.


BlackHelicopterPilot
LSU Fan
Top secret lab
Member since Feb 2004
34709 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying
quote:

Yes, he has. He has posted links to banks being hacked or their customer base info being stolen.


Oh...I stand corrected.

Thank you


LSURussian
LSU Fan
Member since Feb 2005
85145 posts
Online

re: Ultimate Bitcoin Thread - Bitcoin rallying
He may have done that on the Money Talk Board so you may not have seen it. There are two active bitcoin threads on that board now, too.


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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying
quote:

To be fair, he has not said the banks are insecure due to cracking of crypto codes.


Correct.

quote:

He says they are compromised by government "control" issues, etc.


Correct.



There are a lot of things to debate about bitcoin. The underlying cryptographic technology is not one of them.

People that don't understand that technology, like LSURussian, will continually be confused and, at least on this site, they have no desire to actually learn more about cryptography or encryption. The information is out there. Hell, here's an MIT opencourseware course on Cryptography and Cryptanalysis

Have at it, hoss!


CaptainBrannigan
Auburn Fan
Sweater-Vest Swag
Member since Jan 2010
8554 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying
So you want people to take thier fiat money and buy theoritical money with it? Seems like a dumbass idea to me.


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying
even better, here's a Khan Academy video course on the Intro to Cryptography


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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying
quote:

So you want people to take thier fiat money and buy theoritical money with it? Seems like a dumbass idea to me.


No. I tell people not to buy bitcoins. I will give advice if they decide to do it anyway.


LSURussian
LSU Fan
Member since Feb 2005
85145 posts
Online

re: Ultimate Bitcoin Thread - Bitcoin rallying
quote:

He says they are compromised by government "control" issues, etc.



Correct.


So you didn't write this post with a link about a bank having IT issues as proof that bitcoin is better? Your link has nothing to do with government control over the bank. LINK
ETA: I realize you are afraid to reply to my posts, but just for grins why don't you tell us how much money bitcoin believers have lost over the past 3 years from hackers breaking into the bitcoin community and then compare that amount with how much money commercial bank depositors have lost due to hackers breaking into bank networks over that time.

I'll do the bank part for you.......ZERO!

This post was edited on 3/19 at 9:04 am


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uway
USA Fan
Member since Sep 2004
20250 posts
Online

re: Ultimate Bitcoin Thread - Bitcoin rallying
quote:

I like that bitcoin or something like it will be what eventually destroys monolithic state systems.....where that leads us...who knows???



It almost seems that you don't really care where it takes us as long as you get to play a part in burning everything down.

Revenge of the nerds indeed.

This is the ultimate end of the sexual revolution. A bunch of childless men ruining things, b/c f it why not.


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21471 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying
Bitcoin is now twice as valuable as an oz of silver at nearly $60.


TigerFanatic99
LSU Fan
Granger, IN
Member since Jan 2007
4388 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying
I really think I will use one of the sites Wiki referenced earlier that locks in price at the time of exchange and buy a few hundred dollars worth of BC the next time there is a fork or something else causes a big dip in the price, and see if I can sell when it recovers.

test the waters of playing it.


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lordguill
New Orleans Saints Fan
Member since Dec 2005
21470 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying
quote:

Somehow I doubt it will take that long.


Brute force guessing of the encryption key it would take too long to even merit trying. The number of possible keys is greater than the number of atoms in the universe.

quote:

And does....oh wait, they've already done it a few times.


In those cases, people have probably guessed how the encryption keys are generated. The people using the technology had stupid ways of key generation, and it cost them.

quote:

Pretty nice con someone's running there, just goes to show there's a lot of profit in exploiting stupidity.




No I don't think so. It's not like Bitcoins are some unsustainable pyramid scheme.


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LSURussian
LSU Fan
Member since Feb 2005
85145 posts
Online

re: Ultimate Bitcoin Thread - Bitcoin rallying
quote:

Bitcoin is now twice as valuable as an oz of silver at nearly $60.

And unicorn farts are trading at $100 per poot......


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21471 posts

re: Ultimate Bitcoin Thread - Bitcoin rallying
quote:

And unicorn farts are trading at $100 per poot......


I'll trade you a unicorn fart for a bitcoin straight up.


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