- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Cryptocurrency
Collapse
X
Collapse
-
-
Originally posted by milanbenes View PostI will not be surprised if we wake up one morning to hear that, oh dear bitcoin's impervious decentralized ledger has been, ooops, hacked
That aside, it seems the Chinese Central Bank is creating their own digital currency - this makes sense.
But Joe Bloggs acme Digital Currency doesn't have a future IMO
For the brave good luck with trading the swings
But as a buy and hold the jury is out
Milan.Comment
-
Originally posted by scooterscot View Postyou only need to backup the wallet file.
However what I've experienced is the wallet crashing. When I restart it crashes again. The log message is not that helpful but seems to indicate a corrupt block, failed read or write. Only solution I've found is a brute force delete of the contents of the \blocks and \chainstate folders and start again, whereupon the software reloads 5 years+ worth of blocks, a process that can take 14 hours and may well crash again.
What I'm thinking is to script a daily backup of the whole parent folder and if I get a crash, restore from the 'last known good' version, hopefully just a day or so old.
Or there's the paper wallet or hardware options, getting to the point at which the expense of a hardware solution is becoming justifiable....My subconscious is annoying. It's got a mind of its own.Comment
-
Originally posted by milanbenes View Postthat's the only thing that stops me with Bitcoin, since it doesn't take a genius to know that everything can be hacked, who can say that there isn't some either, built in backdoor, or a hackable entry point that hasn't been discovered yet, who can say those aren't there or won't happen and that one day Bitcoin holders will wakeup and find that the whole thing has been hacked and the Bitcoins are now not "worth" anything.
Gold is gold, it's purity can be proven and it's quantity too.
How can the two be compared and how can Bitcoin be trusted.
I would say Bitcoin cannot be trust, do we really trust any software ?
But what Bitcoin has on it's side, is as long as some kind of belief exists, it is a very useful medium for
holding and transferring wealth between holders.
I mean, let's say you want to take a flight and want to take a pile of money with you, if you take gold or cash there's
a high chance of attracting attention at security and a risk of confiscation. If you have a pile of money on a usb stick
in a wallet, problem solved.
So for the moment Bitcoin is solving a purpose and therefore accepted. But do we really trust it, could you trust to bury a usb stick with a bitcoin wallet under a tree in your garden as you would a bag of gold (as has been done for hundreds and hundreds of years) and believe that it will have value in 10, 20, 30, 40, 50 years time ?
Not me.
Milan.
you don't understand Bitcoins, nor the 'last fool' principle which keeps gold at a certain value. Neither have inherent value.
As for hacking them.... Someone can steal your wallet. Keep a safe encrypted backup. You can even print your wallet and lock it in a safe.
But the system itself is in effect a bruteforce hack of types. You want coins for free? Then you simply mine them. You just need the computing power. It's not a system that you can hack in the broader sense of the term meaning where you can circumvent the system.See You Next TuesdayComment
-
Originally posted by milanbenes View Postnot if you have the backdoor key
Milan.
What you're trying to do with a cryptocurrency is break into many hundred or even thousands of houses all at once.Comment
-
Originally posted by Lance View Postyou don't understand Bitcoins, nor the 'last fool' principle which keeps gold at a certain value. Neither have inherent value.
As for hacking them.... Someone can steal your wallet. Keep a safe encrypted backup. You can even print your wallet and lock it in a safe.
But the system itself is in effect a bruteforce hack of types. You want coins for free? Then you simply mine them. You just need the computing power. It's not a system that you can hack in the broader sense of the term meaning where you can circumvent the system.
oh dear,
you're right I don't understand the digital currency (let's not mislead people with the word crypto), it doesn't make sense, and smells of the Tulip bubble in Holland
I've said my part and can't be bothered to argue with the deaf
that having been said, well good luck anyway Lance
Milan.Comment
-
Originally posted by FrontEnder View PostThe "backdoor key" analogy only makes sense if you're trying to break into one house.
What you're trying to do with a cryptocurrency is break into many hundred or even thousands of houses all at once.
good luck with your digital currency
Milan.Comment
-
I love listening to the negative views of people sitting on the sidelines hating.
Polishing a turd near you!!Comment
-
Originally posted by vadhert View PostI love listening to the negative views of people sitting on the sidelines hating.
…Maybe we ain’t that young anymoreComment
-
Originally posted by WTFH View PostAre you sure you meant to post that on this thread and not several others?Polishing a turd near you!!Comment
Partners
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment