Silk Road forums
Discussion => Security => Topic started by: redalloverthelandguyhere on July 20, 2012, 01:18 am
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Just wondering, if bitcoins could be counterfeited. I know the math says no but like anything its possible new technology might be able to somehow make a replicated coin and that would crash the market until the issue was sorted.
Any tech heads here who can say this is 100% safe?
Just a thought.
I have no skills but if I did, would I 'forge' bitcoins?
Kilos of coke for free?
I guess I admit I would if I could. If the coins were undetected and I made a million the BTC market would see a change.
The honest side of me says counterfeiting bitcoins would be wrong.
But what would you do IF you somehow forged a million BTC.
Good weekend that would be.
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nope. not possible. its all based on cryptography and mathematical calculations so not possible to forge.
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But is it possible to mine BTC ;D
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Just wondering, if bitcoins could be counterfeited. I know the math says no but like anything its possible new technology might be able to somehow make a replicated coin and that would crash the market until the issue was sorted.
Any tech heads here who can say this is 100% safe?
Just a thought.
I have no skills but if I did, would I 'forge' bitcoins?
Kilos of coke for free?
I guess I admit I would if I could. If the coins were undetected and I made a million the BTC market would see a change.
The honest side of me says counterfeiting bitcoins would be wrong.
But what would you do IF you somehow forged a million BTC.
Good weekend that would be.
Fuck..you are so stupid.
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of course it's possible, you do need to have more computing power than the rest of the network though
Ohhh, i smell botnet mining here ;)
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I mean btc mining with racks of cards will go through hashes fast. It`ll take a while to recover the initial costs though, I`ve heard many who`ve said its worth it.
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No bitcoins cannot be counterfeit, however stealing them from another s wallet is pretty easy...hence why I never use wallet programs, instawallet ftw ^-^
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meh cards are so 2011 :P fpga/asic is the future https://bitcointalk.org/index.php?topic=49180
What? Never heard of them till now, could you explain them in detail?
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Yeah I got that, but how good is it in terms of cost-performance? Like when I build a rig, which one will pay itself off faster? Also how would I go about building a rig with those?
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God damn everything Shannon posts is somewhat brilliant. +1 for making my head hurt constantly and inspiring me to learn new things.
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time for some back of the napkin calculations, first, let's assume your power costs 12 cents/KWh
6850 costs around $135, plus $200 for the computer that surrounds it, plus it'll cost you 16MJ of energy per day or 53 cents. it would give you 0.12 btc, at $8/btc, you'd make 43 cents per day. even after 1000 days of mining, you wouldn't profit -- http://www.wolframalpha.com/input/?i=-335%2B.043x+from+0+to+1000
x6500r3 costs $560 plus it'll cost you 1.5MJ of energy per day or 5 cents. it would give you 0.22 btc per day, at $8/btc, you'd make $1.71/day. you'd start profiting after 11 months and be up $1,150 after 1000 days -- http://www.wolframalpha.com/input/?i=-560%2B1.71x+from+0+to+1000
+1
Sounds good to me. ;D
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time for some back of the napkin calculations, first, let's assume your power costs 12 cents/KWh
6850 costs around $135, plus $200 for the computer that surrounds it, plus it'll cost you 16MJ of energy per day or 53 cents. it would give you 0.12 btc, at $8/btc, you'd make 43 cents per day. even after 1000 days of mining, you wouldn't profit -- http://www.wolframalpha.com/input/?i=-335%2B.043x+from+0+to+1000
x6500r3 costs $560 plus it'll cost you 1.5MJ of energy per day or 5 cents. it would give you 0.22 btc per day, at $8/btc, you'd make $1.71/day. you'd start profiting after 11 months and be up $1,150 after 1000 days -- http://www.wolframalpha.com/input/?i=-560%2B1.71x+from+0+to+1000
Cool, except that in 1,000 days the rate at which BTC are mined will drop by half. So current calculations would have to be adjusted to factor that in.
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You tech savy people. ;D With the unpredictable exchange rates I`m sure even 3 years later it could be well worth it.
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It is possible to counterfeit bitcoins if you have over 50% of the CPU power of the total network
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It is possible to counterfeit bitcoins if you have over 50% of the CPU power of the total network
Yeah sure. ::) Would a NEC 9 do?