- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Dave Ramsey: Will the stock market crash under Joe Biden?
Posted on 4/14/21 at 8:00 am to rocket31
Posted on 4/14/21 at 8:00 am to rocket31
quote:
im not the one taking risk here, its you, and youll see it eventually. gl
I am also in BTC. I just disagree about the levels of risk. I would say that even if you’re right, which I hope you are, that doesn’t mean there isn’t risk.
Being right isn’t enough. It still needs to be globally adopted and accepted and while government has no means of intervention now, I never underestimate their ability to insert themselves in at some point. You may see these risks as negligible but I think they are objectively non-zero. That’s all.
1
Posted on 4/14/21 at 8:02 am to Tigerfan56
yea, that was a bigger concern for me a while back but as of today we have senators and the GOP leader actively telling everyone publicly that we need this thing to succeed for the future of our country
Posted on 4/14/21 at 8:03 am to rocket31
quote:
forking to a quantum resistance protocol doesnt change the code buddy
I don't think we can know whether or not the code has to be changed until we understand how the new encryption, and therefore mining, works. The code could likely be recreated, but If so it would not be the original code.
The IT nerd in me really wants to understand the new encryption methods and the how that'll affect blockchains.
Currently reading this paper to try to gather some understanding.
This post was edited on 4/14/21 at 8:04 am
Posted on 4/14/21 at 8:15 am to Hulkklogan
ill read it later but youre also making assumptions that people who are creating QC technology will use it for nefarious reasons
its like if i put a knife on the table, someone could either use it to perform open heart surgery and save lives or they could use it to stab people to death
its like if i put a knife on the table, someone could either use it to perform open heart surgery and save lives or they could use it to stab people to death
Posted on 4/14/21 at 8:21 am to rocket31
In the real world knives are used for both 
QC, even when it's capable of cracking existing hashing algorithms, will be very expensive. But foreign state actors (China, russia primarily) could have the resources to make one and take down whoever they want that hasn't adopted post-quantum encryption.
ETA
Another concern is that a bad actor could be storing existing encrypted communication to crack later.
QC, even when it's capable of cracking existing hashing algorithms, will be very expensive. But foreign state actors (China, russia primarily) could have the resources to make one and take down whoever they want that hasn't adopted post-quantum encryption.
ETA
Another concern is that a bad actor could be storing existing encrypted communication to crack later.
This post was edited on 4/14/21 at 8:23 am
Posted on 4/14/21 at 8:25 am to Hulkklogan
Lets not act like QCs are going to be common though. Is IBM building theirs to become criminals? I keep seeing people reference IBM's QC that will be able to crack bitcoin in a few years. Is that what they are building it for? I doubt it.
Posted on 4/14/21 at 8:26 am to Hulkklogan
yea, i mean, this might be something to think about eventually im not going to base my investment thesis on QC destroying all our financial systems lol
if i did, id be stocking guns and ammunition, because we would have a lot bigger problems than crypto being cracked
if i did, id be stocking guns and ammunition, because we would have a lot bigger problems than crypto being cracked
Posted on 4/14/21 at 8:28 am to rocket31
quote:This is the most logical response for "QCs will make bitcoin worthless"
yea, i mean, this might be something to think about eventually im not going to base my investment thesis on QC destroying all our financial systems lol
if i did, id be stocking guns and ammunition, because we would have a lot bigger problems than crypto being cracked
If thats why you aren't buying btc, I hope you are buying guns, ammo, medical supplies, long term food, etc because everything is fricked in that case.
Posted on 4/14/21 at 8:33 am to TigerTatorTots
they always think its like some "gotcha" too
"just wait until QC destroys bitcoin bro"
and im just like...uhhh, do you realize what that means for humanity?
"just wait until QC destroys bitcoin bro"
and im just like...uhhh, do you realize what that means for humanity?
Posted on 4/14/21 at 8:33 am to TigerTatorTots
Yeah, I'm not advocating that one should stay away from BTC now. There's far too much money to be made with BTC for that. It's a long term concern. And, to be fair, it's a concern for the entire world, not just btc.
Posted on 4/14/21 at 9:09 am to rocket31
Concentrating any of your wealth into one investment is by definition "risky", no investment is infallible.
Posted on 4/14/21 at 10:32 am to Hulkklogan
quote:
Another concern is that a bad actor could be storing existing encrypted communication to crack later.
The FBI, and some other federal agencies are warehousing large numbers of encrypted hard drives seized in criminal investigations waiting for the day when computing power advances to the point they could possibly be decrypted.
Posted on 4/14/21 at 11:56 am to EA6B
Isn't something absurd like 20% of BTC "lost"
Posted on 4/14/21 at 11:58 am to barry
a lot of the early investors lost their BTC, yeah. I think as the value has shot up the rate of lost BTC has dropped.
Posted on 4/14/21 at 12:03 pm to barry
quote:Yea - only makes the rest of them that much more valuable. I consider it the early innovators doing us early adopters a service.
Isn't something absurd like 20% of BTC "lost"
Posted on 4/14/21 at 12:16 pm to barry
quote:
Concentrating any of your wealth into one investment is by definition "risky", no investment is infallible.
holding fiat is a -2.5% risk per year as thats the inflationary goal (its debatebly much higher) and you do not have control over the issuance.
please do not talk to me about risk, lol, you guys just simply do not get it.
This post was edited on 4/14/21 at 12:17 pm
Posted on 4/14/21 at 2:58 pm to rocket31
quote:
200% average return over a decade on bitcoin.
you'll be one of the last ones to capitulate but it'll happen
I'll change my thesis once people like you jump in
Funny I used to think the same about the inflation debate. Then people like you jumped on it 10 years later
Posted on 4/14/21 at 3:00 pm to wutangfinancial
well when they printed 1/5 of the all the money in existence in the last year. I suppose that's bound to happen
Posted on 4/14/21 at 3:08 pm to rocket31
quote:
there are videos and text documents explaining that sir
Link?
Posted on 4/14/21 at 3:10 pm to rocket31
quote:
well when they printed 1/5 of the all the money in existence in the last year. I suppose that's bound to happen
Your opinion on our monetary system comes from a meme. Think about that for a second while considering 90% of your wealth is concentrated in 1 asset with the most volatile/risky actors on the planet joining you. All based on a meme. What's your finance/economics background?
Page 8 of 12
Popular
Back to top
Follow TigerDroppings for LSU Football News