Flower said: bitcoin can be killed?”

Editor’s note: This article from the vernacular block chain (ID:hellobtc), the old white, the daily planet unauthorized release.

Moderator: now, few people have heard of bitcoin”. But really understand bitcoin, will not have so much.

10 years is not long, say short not short. You have to say about it can be monopolized the ages to come, it seems 10 years time is too short. You say this thing no future, sooner or later died, you look at the traditional company, can stay for 10 years and not standing is indeed very rare, 10 years is a long enough period of testing.

So today we debate is: bitcoin can be killed? Affirmative debater’s argument is: bitcoin can be killed. The debater’s argument is: bitcoin cannot be killed.

A debate: 51% attack debate

The square of a debate: as the square, I hope the first and reach a consensus on the concept, that is what is bitcoin “killed”. As everyone knows, as long as there is a computer in the operation of bitcoin program, bitcoin will not disappear. So, we are here to say “kill”, can be simply understood as a global consensus bitcoin or blockchain belief collapse, prices fell more than 99%, can be regarded as “killed”. (the nodded.)

Well, since it has reached a consensus on the concept, we have to analyze, bitcoin can be killed. Bitcoin PoW consensus algorithm biggest weakness or weakness, is to achieve the 51% attack will form double, or tampering with the transaction history. Such things do not have to, as long as a few times, bitcoin’s consensus and belief will collapse. After all, who will go with such a security can be guaranteed even “electronic cash” or “digital gold”?

We imagine that now currency prices plummeted, its prices also plummeted, many mines have even closed down. If there are people who start to cost accumulation of work force, bitcoin launched 51% attacks, bitcoin is likely to die. So, I think, bitcoin can be killed.

One side of a debate: argue each other since referred to the bitcoin system 51% attacks, we’ll take a look at the 51% launch attacks require what is the cost of.

The current bitcoin whole network is 38011 PH/s, according to CryptoSlate estimates, the bitcoin 51% force attack, now need 14-15 billion dollars, 200 million professional ASIC mills, the annual power consumption of about 30TW, equivalent to the power consumption of a small country in a year.

Moreover, even if you have money, you have to get so many mills, you also have to get mine construction, human maintenance and a series of work. Everything is ready, the market might be mad at you purchased the machine by the bears turn cattle, then bitcoin prices and is soaring again, you suddenly found just setting up the mine production is also not up to 51%……

There is, the bitcoin 51% force attack, even if there is a possibility for the application, but in the real world, it is difficult to imagine any individual, enterprise, willingness and ability to pay such a high cost to the bitcoin this “attack Dutch act”. Because once the attack is successful, bitcoin consensus will disappear, bitcoin will become not worth a hair, then the attacker hardly get any benefit.

So, from the actual situation, we believe that the possibility of such individuals, enterprises, approximately equal to zero. So, bitcoin cannot be killed.

Two debates: regulatory debate

Two square argument: since other friends argue that does not have the individual, enterprise, so we have to talk about the actual existence of the national organization.

We can take the form of bitcoin, as a program. Imagine if governments around the world unite shield trading, what will happen? Or a little more directly, if through the analysis of bitcoin message, according to its characteristics in the backbone of the shield, so that bitcoin nodes can’t send or receive transactions, even the whole destructive part of the bitcoin network, what will happen? If the bitcoin system cannot deal with the bitcoin worth? In this case, bitcoin can be regarded as a “name” and “killed”, there is no essential difference between. So, I think, bitcoin can be killed.

The two argument: according to the other argument speech, I proposed three objection:

First of all, on the “shielding trading”. The bitcoin network rooted in the Internet, as long as the international Internet Interconnection, cannot be shielded.

Secondly, even if some countries can technically shield all bitcoin transactions, but as long as there are no other countries implementing the shield, the bitcoin network will be able to operate normally. Moreover, blocked state traders can interact, and through other means bitcoin network transactions, such as WeChat, e-mail, satellite etc..

Again, you mentioned that the governments of all countries in the world trade union shield. But do you have seen in the history of mankind, the governments of all countries to unite so consistent pace, doing the same thing? I can think of at the moment, only two.

Is a drug. Drugs harm, has been in the world that a consensus between most countries, almost all countries in drug control.

Two is three people hit, this is still only exists in Liu Cixin’s novels.

The third debate: product iteration debate

To cause actually kill something, do not need to directly. A product, such as the existence of bitcoin, because it meets the needs of many people, but the best way to kill it, is to be a better alternative. As the mobile phone function machine intelligence, 4G instead of 3G as alternative microblogging blog.

Bitcoin was born in 10, seemingly not short, but if in a large scale time axis, but the moment is very close. Go away, 10 years ago, no one would have thought that history has several decades of Kodak will go bankrupt, no one would have thought to dominate the mobile phone market will be NOKIA iPhone and Android have to suppress the defenseless. The nearest said, no one would have thought that the small yellow car early recharge, now even the deposit is not returned back, no one will think of bitcoin prices from $20 thousand, now down to $3000 early.

For a decade, how we can easily assured: bitcoin future will not be a better and more advanced currency replaced? There is a saying: “the only thing in the world is change itself is constant.” So, I think, bitcoin can be killed.

The three argument: this example for the other argument is indeed a lot of people mentioned. “Bitcoin will not be replaced by competitors, especially those with more advanced technology and competitors?” The problem is really meaningful, because before we see the fact that: iPhone instead of NOKIA, IE and Chrome instead of Netscape, instead of IE……

On this point, I give three examples, for your consideration:

First of all, a bitcoin development team, although Bitcoin Core (bitcoin core development team) for expansion issue questioned, but if the development team on technical strength, if Bitcoin Core is second, which is the first team to call yourself?

Secondly, the transfer speed, bitcoin is not as good as EOS; the intelligent contract, bitcoin is inferior to that of ETH; on anonymity, bitcoin currency than Monroe. However, the past 10 years, who is the boss? Is it still is bitcoin?

Again, in fact, whether it is a mobile phone, or browser, value source of their “experience”.

While bitcoin, as the first ancestor class application block chain, its underlying things, is money or gold, its value comes from “consensus”.

On the topic of “consensus”, limited to time, here is not to say. We only need to think about a problem: if people now make a metal, more beautiful, more than gold oxidation, higher melting point and more portable. This kind of metal, can replace the position of gold, more expensive than gold? To understand this question, question argue each other, should be on the collapse of itself. So, I think, bitcoin cannot be killed.

Four debates: quantum attack debate

The fourth: I asked friends a question: do you know a quantum computer this thing?! This thing came out, not only is the bitcoin, almost all encryption currency will face a huge threat. Take to dig bitcoin, quantum computer will many times faster than the current ASIC machine, and block chain core private key algorithm, what RSA ah, the elliptic curve can be cracked! Are you afraid to ask!! So, I insist that bitcoin can be killed!

The four debate: the other argument you are not stupid?!

First, although the quantum computer mining faster than ASIC, but now the miners won’t upgrade mining quantum computer?

Secondly, even if a quantum computer can through the public the private key, but in the address generation algorithm of bitcoin, need to use the information of the algorithm, and information the algorithm loses the original information only tested. Therefore, one is not turn out too bitcoin address is safe. That is to say, as long as each payment after bitcoin to the new address, you can defend quantum computer. Bitcoin wallet to make this function, what is not difficult.

Then bad! A quantum computer of this new invention, naturally there will be a new algorithm! In extreme cases, bitcoin development team can also change the algorithm! So, I insist that, bitcoin cannot be killed!

“Do you dare to say I am silly!” Affirmative wash down to four and four of the debate debate contracted, other members of the opposite have also joined the melee. Today’s debate so far, you own brain melee scene……

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