So let's say Bitcoin replaces traditional money system; what happens in 50-100 (or more) years with the number of lost...

>Why couldn't you?
How do you divide one BTC on tens of billions of people (we are talking about the future after all)?

Bitcoins in circulation will be less and less and thus the price will rise. That's it. Also human population is only growing because of 1st world countries sending aid to Africa where they multiply like rabbits. Once that stops we will find a balance.

The protocol could be forked to move the decimal place further.
Wealth maps to the amount of things in circulation. Bitcoin being lost is for all intents and purposes Bitcoin that doesn't exist, that is unless the private key can somehow be recovered or regenerated.

50 years to 100 years

I can say with all confidence bitcoin will be worth either zero or infinity

this has already been a concern and has already been discussed and solved

the answer is: Bitcoin can be MORE divisible

it's at eight zeros; can be programmed to nine, ten, whatever

you're a little late with this FUD

this picture is truly worth 1000 words.. got anymore like this?

>Once that stops we will find a balance.
You're being delusional
>that is unless the private key can somehow be recovered or regenerated.
It's just spewing a combination of numbers and letters though, it's not exactly a rocket science. Computational power (which is bound to grow) is the only limit to this
1990 was 28 years ago

Lol no

How long do you wager until current encryption algorithms are broken? Will there eventually be no more hard problems to secure secrets with?

>How long do you wager until current encryption algorithms are broken?
Why would you think I have any clue? On a side note, you're thinking of recovering or "breaking" the private keys to be some magic. You literally have to guess the combination of letters and numbers, which is limited by how many numbers and letters computer can generate.

Do check this out - lbc.cryptoguru.org/

i don't think you quite understand just how many bitcoin private keys there are and how hard it would be to guess even 1.

I don't think you quite understand how computers work With the current computing power, there have already been several found. As the previous poster, please refer to lbc.cryptoguru.org/trophies

Heard of the collider over two years ago, user.
My point being that unless you find the two prime numbers used to generate the private key, any UTXO assigned to it is simply out of circulation. The value maps to all coin in circulation.

You would know this and not arguing about it if you understood complexity.
youtube.com/watch?v=u2DLlNQiPB4

Satoshi foresaw technological adjustments being necessary, you dummy. We'll just fork to bitcoin quant then, no harm done

there are more private keys than there are atoms in the known universe.
finding a random one is one thing, but finding a specific one would be retarded to even try.

>Generate private key somebody is already using
>Open electrum and spend bitcoins
Why wouldn't this work?
>We'll just fork to bitcoin quant then, no harm done
What's the point of using Bitcoin then? Not even larping, if you have an extremely flawed unfinished product, why not just use something else?
It's just guessing a combination of numbers and letters, that's all.

lol go guess one of satoshis wallets then if its so easy you fucking brainlet.

>Why wouldn't this work?
It would work, if you could find one. But the odds of finding one are indistinguishable from zero.

So you are saying the human population will grow to 20 billion? Atm 3 billion people have access to the internet. That's basically the 1st world countries and some 3rd world countries. Almost all of the people in 3rd world countries will remain there so if India can handle 5 billion people living like absolute shit then they can go ahead. Meanwhile Europe is going to close its borders and USA is already doing that. Both of them will see a decline of population which can only be good.

>there are more private keys than there are atoms in the known universe

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Theoretically, it should be possible on the first try, so your argument makes no sense really. And once more, we are talking about the future.
So how did lbc.cryptoguru.org/ these guys find some? Doesn't growing adoption mean more private keys thus making it easier to just guess them?
>So you are saying the human population will grow to 20 billion?
There were 2 billion people ONLY 100 years ago, why do you think we couldn't reach 20 billion? You Bitcoin shills really are dense

being possible does not mean its probable.
learncryptography.com/cryptanalysis/why-is-2-256-secure

Watch this video to get an idea of the scale of the problem of trying to brute force a private key. Of course, the odds of finding an address with a balance go up with more users in the network but are still miniscule.
youtube.com/watch?v=S9JGmA5_unY

>being possible does not mean its probable.
Yes, it's not probably considering the current state and abilities of technology. Why would it not be probable in 20-50 years, or even less? Do you remember what phones were like 10 years ago?

Please refer to

Because we already close to hitting the limit of transistors size. This exponential growth on computer power will not last forever.

So you honestly believe we've almost hit the limits of computational power?

well with current computer power on earth it could take a few hundred million years to guess 1, so maybe, almost certainly not in 20-50 years though.
even if it became possible, that's the point of being able to upgrade to sha512 pretty easily.
there is no reason now, but if needed it can be done.
none of this even considers multi-sig wallets which most exchanges use for cold storage.

Where did you get that I'm a Bitcoin shill? I don't own any Bitcoin even. The world can easily support 2 billion people if 80%+ of them earn less than $10 a day. And that's with child support so if the average normie pops out a child she will receive some kind of support from the government. At 20 billion who do you think will be paying for all those people? The living circumstances can't get any more shittier at some point. They still need to eat and drink. Already today the governments are subsidising food which means that people are paying for other people to have children and live life which is fucking bullshit. There's already outrage over welfare. To support 20 billion people you need A LOT of tax money and at some point people are just gonna overthrow the government with force if need be.

No, it just wont grow as fast.
In 20 years we might have computers hundred or even a thousand times faster than today's computers, but not a million times faster, as Morre's law would predict.

>the virgin sha-256
>the chad quantum computing brute force

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the Jow Forums version

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>that's the point of being able to upgrade to sha512 pretty easily.
So can you answer the question I've made earlier; what's the point of Bitcoin when currently there exist better options and when better options will exist (upgrading to sha512 is not a future or an improvement)? Why is Bitcoin the future?
>What is science
[Citation needed]

holy kek

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Watch the video and then imagine that each computer is 10 billion times faster than the ones we have today. The problem is still ludicrously hard. The biggest problem on the horizon could be quantum computing, but they are currently very unstable so cannot be made large enough to pose a threat. If anyone manages to make significant breakthroughs then it would still probably be easier for them to hack the us treasury than find a private key.

>currently there exist better options
what options?

>science is gonna make 20 billion people live well in the future on this planet earth.
I'd really like to see that with automation coming.

>but they are currently very unstable so cannot be made large enough to pose a threat
So basically, private keys being lost are not a problem because BTC won't have use in the future
XRP? BCH? Nano?
>B-but muh decentralization
End users don't benefit from it

>bch
how fucking new are you?

So not liking BCH somehow proves you right? Face it, both coins are equally bad as there simply are and will be better solutions

>Vulnerable to tech that doesnt even exist yet
>Extremely flawed

did I say i did or didn't like either btc or bch???
bch forked from btc, it uses the same encryption you retard.

>Face it, both coins are equally bad

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sciencemag.org/news/2018/01/after-years-avoidance-department-energy-joins-quest-develop-quantum-computers
We're not talking about the encryption, we're talking about better solutions. BCH has faster tx with lower fees, why is it not better than BTC?

Also I want to make clear that I don't care about BCH, I'd prefer something like XRP