Crypto Predictions
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What happens when cryptocurrency isn't so cryptic any more? Like when quantum computing comes out?
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@tim_g said in Crypto Predictions:
What happens when cryptocurrency isn't so cryptic any more? Like when quantum computing comes out?
Hopefully by then we won't need money. . .
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@tim_g said in Crypto Predictions:
What happens when cryptocurrency isn't so cryptic any more? Like when quantum computing comes out?
We've got quantum computers already, just ask IBM, they'd love to sell you one. They're more like the early 70s computers the size of an entire room for a 10-qbit cpu. They're also very slow because of the sampling process needed to figure out what state the qbit is in.
They would reduce the amount of time needed to break the encryption by an order of magnitude, but you'd need multiple orders of magnitude to get a realistic time scale.
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“The elliptic curve signature scheme used by Bitcoin is much more at risk, and could be completely broken by a quantum computer as early as 2027,”.
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@irj said in Crypto Predictions:
@computerchip said in Crypto Predictions:
Even if we have seen to floor (which is I believe it's close,) I don't think we will see 20k again until around October 2018 at the earliest.
Honestly, I think bitcoin's days as market leader are numbered and we may never see $20k again on bitcoin, but the market will continue to grow overall. I am looking at litecoin to move into the top 3 next week. I htink by the end of the year, there may be an obvious gradual move of another coin to start gaining on bitcoin.
Hmmmmmm.....
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@tim_g said in Crypto Predictions:
What happens when cryptocurrency isn't so cryptic any more? Like when quantum computing comes out?
Just need new quantum currency.
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My knowledge of crypto is out of date by about 10 years. I used to mine when it pretty much only BTC, then I got into LiteCoin and DoggCoin etc.
When my wallet became like a full gigabyte and I wanted a little processing power for myself, I kinda fell out of it.
Now there are 1700 crypto coins and I don't have a clue what makes one "better" or "worse" than another. They are all just blockchain right? Or wallet services? Or fancy programs and apps that surround it?
Why are there 1700 cryptocoins? What is still being discovered that makes one or another better? A cuter mascot?
How are they solving some of the inherent problems with it? For example theft or wallets being lost or stolen? Those coins are just gone forever, never to be back in the market? This seems to me like a currency with an absolute max number of coins (and ability to lose them is not uncommon), available coins will simply dwindle over time.
Is the problem of humongous wallets and processing power needed, solved? I don't want to lug around 10GB of the world's daily transactions on my computer all the time, or forget to open an app and have to wait 3 days for it to catch up with updates.
With a decentralized nature of these systems, who do you complain to about bad transactions? Is there a refund system like credit cards have chargebacks? If someone steals from you can you complain to someone and get it back? Didn't used to be able to.
Like I said, my knowledge is about 10 years old. I need a refresher and understand why so many, what are the real differences, what makes one better than another, how are wallets and security handled now?
And I'm supposed to be a nerd and I can't keep on top of this. What are the chances the general public are ever going to care to learn or use it or anything else? Why I get change back from a store, I get dimes and nickles and dollars. I don't get a choice of 82 different currency variations with all different exchange rates.
I don't see adoption happening until people can say, here, THIS one is "cryptocurrency". Try it. Not 862 variations, no doubt created by people hoping to win the lottery, take a bunch of coins early, hope it goes well so they can cash out later. I don't know. -
@guyinpv said in Crypto Predictions:
My knowledge of crypto is out of date by about 10 years. I used to mine when it pretty much only BTC, then I got into LiteCoin and DoggCoin etc.
When my wallet became like a full gigabyte and I wanted a little processing power for myself, I kinda fell out of it.
Now there are 1700 crypto coins and I don't have a clue what makes one "better" or "worse" than another. They are all just blockchain right? Or wallet services? Or fancy programs and apps that surround it?
Why are there 1700 cryptocoins? What is still being discovered that makes one or another better? A cuter mascot?
How are they solving some of the inherent problems with it? For example theft or wallets being lost or stolen? Those coins are just gone forever, never to be back in the market? This seems to me like a currency with an absolute max number of coins (and ability to lose them is not uncommon), available coins will simply dwindle over time.
Is the problem of humongous wallets and processing power needed, solved? I don't want to lug around 10GB of the world's daily transactions on my computer all the time, or forget to open an app and have to wait 3 days for it to catch up with updates.
With a decentralized nature of these systems, who do you complain to about bad transactions? Is there a refund system like credit cards have chargebacks? If someone steals from you can you complain to someone and get it back? Didn't used to be able to.
Like I said, my knowledge is about 10 years old. I need a refresher and understand why so many, what are the real differences, what makes one better than another, how are wallets and security handled now?
And I'm supposed to be a nerd and I can't keep on top of this. What are the chances the general public are ever going to care to learn or use it or anything else? Why I get change back from a store, I get dimes and nickles and dollars. I don't get a choice of 82 different currency variations with all different exchange rates.
I don't see adoption happening until people can say, here, THIS one is "cryptocurrency". Try it. Not 862 variations, no doubt created by people hoping to win the lottery, take a bunch of coins early, hope it goes well so they can cash out later. I don't know.I stopped reading after you said your knowledge of crypto was 10 years outdated and when you said doggcoin.
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@computerchip said in Crypto Predictions:
Anyone who thinks "crypto" has no value, can take a look at this crypto.
That's not cryptocurrency
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@computerchip said in Crypto Predictions:
@tim_g said in Crypto Predictions:
cryptocurrency
Well...ok, you got me, it's a digital currency.
Eve online's ISK is the defacto digital currency. It can easily be transfered to any number of currencies and it's been incredibly stable.
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I was definitely a nocoiner for awhile...
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@computerchip said in Crypto Predictions:
@guyinpv said in Crypto Predictions:
My knowledge of crypto is out of date by about 10 years. I used to mine when it pretty much only BTC, then I got into LiteCoin and DoggCoin etc.
When my wallet became like a full gigabyte and I wanted a little processing power for myself, I kinda fell out of it.
Now there are 1700 crypto coins and I don't have a clue what makes one "better" or "worse" than another. They are all just blockchain right? Or wallet services? Or fancy programs and apps that surround it?
Why are there 1700 cryptocoins? What is still being discovered that makes one or another better? A cuter mascot?
How are they solving some of the inherent problems with it? For example theft or wallets being lost or stolen? Those coins are just gone forever, never to be back in the market? This seems to me like a currency with an absolute max number of coins (and ability to lose them is not uncommon), available coins will simply dwindle over time.
Is the problem of humongous wallets and processing power needed, solved? I don't want to lug around 10GB of the world's daily transactions on my computer all the time, or forget to open an app and have to wait 3 days for it to catch up with updates.
With a decentralized nature of these systems, who do you complain to about bad transactions? Is there a refund system like credit cards have chargebacks? If someone steals from you can you complain to someone and get it back? Didn't used to be able to.
Like I said, my knowledge is about 10 years old. I need a refresher and understand why so many, what are the real differences, what makes one better than another, how are wallets and security handled now?
And I'm supposed to be a nerd and I can't keep on top of this. What are the chances the general public are ever going to care to learn or use it or anything else? Why I get change back from a store, I get dimes and nickles and dollars. I don't get a choice of 82 different currency variations with all different exchange rates.
I don't see adoption happening until people can say, here, THIS one is "cryptocurrency". Try it. Not 862 variations, no doubt created by people hoping to win the lottery, take a bunch of coins early, hope it goes well so they can cash out later. I don't know.I stopped reading after you said your knowledge of crypto was 10 years outdated and when you said doggcoin.
Well at least you're doing your part.
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@guyinpv said in Crypto Predictions:
@computerchip said in Crypto Predictions:
@guyinpv said in Crypto Predictions:
My knowledge of crypto is out of date by about 10 years. I used to mine when it pretty much only BTC, then I got into LiteCoin and DoggCoin etc.
When my wallet became like a full gigabyte and I wanted a little processing power for myself, I kinda fell out of it.
Now there are 1700 crypto coins and I don't have a clue what makes one "better" or "worse" than another. They are all just blockchain right? Or wallet services? Or fancy programs and apps that surround it?
Why are there 1700 cryptocoins? What is still being discovered that makes one or another better? A cuter mascot?
How are they solving some of the inherent problems with it? For example theft or wallets being lost or stolen? Those coins are just gone forever, never to be back in the market? This seems to me like a currency with an absolute max number of coins (and ability to lose them is not uncommon), available coins will simply dwindle over time.
Is the problem of humongous wallets and processing power needed, solved? I don't want to lug around 10GB of the world's daily transactions on my computer all the time, or forget to open an app and have to wait 3 days for it to catch up with updates.
With a decentralized nature of these systems, who do you complain to about bad transactions? Is there a refund system like credit cards have chargebacks? If someone steals from you can you complain to someone and get it back? Didn't used to be able to.
Like I said, my knowledge is about 10 years old. I need a refresher and understand why so many, what are the real differences, what makes one better than another, how are wallets and security handled now?
And I'm supposed to be a nerd and I can't keep on top of this. What are the chances the general public are ever going to care to learn or use it or anything else? Why I get change back from a store, I get dimes and nickles and dollars. I don't get a choice of 82 different currency variations with all different exchange rates.
I don't see adoption happening until people can say, here, THIS one is "cryptocurrency". Try it. Not 862 variations, no doubt created by people hoping to win the lottery, take a bunch of coins early, hope it goes well so they can cash out later. I don't know.I stopped reading after you said your knowledge of crypto was 10 years outdated and when you said doggcoin.
Well at least you're doing your part.
The original crypto is not even 10 years old, man, so you got out right as it was getting started?
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@scottalanmiller said in Crypto Predictions:
https://www.ccn.com/south-korean-top-crypto-official-dies-amid-mounting-regulatory-pressure/
Interesting quote from the article: "He passed away while he was sleeping and [his] heart [had] already stopped beating when he was found dead.”
It's always rough when you find them dead while their heart is still beating...
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My question with it, is the reliability of long-term storage of value in current cryptography. As others have alluded to, the future is uncertain pertaining to computational complexity theory. It would seem reasonable, that current “NP-complete” type problems will be solvable in polynomial time at some time in the future. Which means current cryptography does not work anymore. Then, what happens to the stored value, when denominated and validated in a computation which is has lost its previous inherent strength.
For transactional systems, this is not a big deal, because you would just update to the latest crypto standard moving forward with new transactions.
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