It's also not used by everyone, e.g. shitcoins like IOTA
link.medium.com
Diversifying with Crypto
Parker Scott
Chase Garcia
Would a massive advance in computer technology render crypto "obsolete"? It seems like it's all based on todays computing power.
Cooper Sanders
>It uses raw hash power in ways that Proof of Stake does not.
This makes no sense. PoS uses the same or equivalent crypto algorithms to PoW. You can't reverse transactions in PoS networks any easier than PoW networks.
Jayden Murphy
Bitcoin is designed to be more profitable to mine than to attack. Shitcoin clones are more vulnerable to 51% attacks if they use the same hash function. Quantum computing could in theory be used to steal bitcoin but we are in much deeper shit if that happens because like the user said it is widely used in a number of other industries that affect our day to day life
Ian Wood
I think gen 3 cryptos are addressing quantum computing if that’s what you are referring to
Leo Green
By the time a computer is powerful enough to 'break' encryption for a cryptocurrency, we'll be in the year 2196, Bitcoin and its other spawn won't exist anymore. Putting money into crypto and not nowint about tech is dangerous.
Jackson Peterson
PoS networks aren't computing 10^50 hashes/second to find a nonce. It's very different and if someone here can explain how it's secure I would appreciate it
Sebastian Brooks
In a persons lifetime in the 1900s they went from horse and buggy to men in space. Curious why you think it would be 170 years out until crypto could be stolen?
Jayden Collins
The thing is all the normal bank shit is using encryption too, and tons of other shit including nuclear weapons. Once quantum computers hit then everything is going to need to swap algorithms, and honestly I trust crypto to be way better prepared for that than all of the legacy systems out there
Charles White
Imagine having $250k and only putting $5k in crypto.
I don't even have half that money and still have over 10x worth of crypto.