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📺 Helpful Vids 📺
Chinese language Mining Centralisation 👉
Stablecoin Conspiracy 👉
Cashless Society 👉
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– TIMESTAMPS –
0:00 Intro
1:52 Miner Centralisation
4:35 May it Be Altering?
8:20 Quantum Computer systems
11:06 Can They Actually Crack it?
13:35 Regulators
17:41 Can They Actually Ban it?
19:14 Remaining Ideas
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⛓️ 🔗 Helpful Hyperlinks 🔗 ⛓️
► 51% Assault Defined:
► Quantum Computer systems Defined:
► Bitcoin & Quantum Computing:
► WBTC:
► Mining Centralisation Map:
► Challenges for Quantum:
► Texas Wind:
► Quantum Resistant Ledgers:
► IMF Panel on CBDCs:
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📝 Miner Centralisation 📝
There’s a giant diploma of Miner centralisation in China with over 65% of the hashrate coming from that nation. Because of this in the event that they needed, the might run a 51% assault on the Bitcoin community and take it over.
There are numerous who feared for this as they know that having a lot hash fee in a rustic like China that wishes to have management the broader economic system.
💭 Is it a Actual Threat 💭
There are much more worthy targets on the market for a nation state and a decentralized blockchian is just not one in all them. China at present holds over 3.3 trillion {dollars} in US foreign money reserves. In addition they maintain over 1 trillion {dollars} of US debt.
In the event that they actually needed to trigger monetary havoc on international adversaries, they’d simply dump this on the the open market
Pulling off an assault of this magnitude can be hellishly difficult to co-ordinate.
Lastly, you also needs to think about that a number of the hashrate has already been shifting away from China to the west. Nations just like the USA & Canada have already had a big diploma of miners shifting over to different international locations.
🖥 Quantum Computer systems 🖥
Quantum computer systems are 100 million occasions quicker than tremendous computer systems. And tremendous computer systems are essentially the most superior computer systems at present available on the market – over 1,000 occasions quicker than house computer systems
The primary approach that they will do that’s to try to “guess” your non-public key. You see, Bitcoin depends on what is known as ‘Eliptic Curve Cryptography’ with the intention to encrypt our non-public keys.
They might alos run a 51% assault on the community. A Quantum pc can be utilized to launch a 51% assault on the community
🤔 How Doubtless is it? 🤔
You must observe that the Google assessments have been run in a extremely managed lab experiments.
It additionally has a big diploma of what are referred to as “error charges”.
Attacking Bitcoin keys would require about 1,500 qubits. Presently, humanity doesn’t have the know-how accessible with the intention to create a quantum PC this massive to assault the keys.
There’s additionally tech that’s being constructed that may be capable to make the Bitcoin blockchain Quantum resistant. This may very well be by a mushy fork of the community
👨⚖️ Regulators 👨⚖️
It is no secret that the governments, regulators and central bankers should not a fan of cryptocurrency.
There appears to be a contradictory stance with these governments. They’re permitting crypto to develop however they do not need individuals to have full management of the crypto that they maintain.
This may very well be as a result of they need to launch their very own CBDCs that would take the facility away from the individuals and put it into the fingers of the state.
The federal government might ban Bitcoin and pressure residents to carry their CBDCs. Nonetheless, as we all know, it is rather onerous to ban a decentralised open supply community like Bitcoin.
China tried to ban Bitcoin however they struggled to cease native OTC sellers and individuals who use VPNs.
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📜 Disclaimer 📜
The data contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who is just not a licensed monetary advisor or registered funding advisor. Buying and selling Foreign exchange, cryptocurrencies and CFDs poses appreciable danger of loss. The speaker doesn’t assure any explicit final result.
#Bitcoin #Dangers #crypto #quantumcomputer #mining #centralisation #blockchain
Source: Coin Bureau
46 Responses
Any other risks you guys think I should explore more? Always keen to research tail risk events.
If you guys loved the shirt, its for sale in my merch store. As you guys know, I hate ads and don't run them on YouTube. So, these shirt sales go to help supporting the channel. 👉 https://store.coinbureau.com
Your analysis is really good, because it also consolidates the thoughts that these risks may not be practical for various reasons. The biggest risk is going to come from Central Governments, passing laws about access or some sort of proof of holdings of cryptocurrency, i.e. if you do not declare your holdings that could be considered as breaking a law… They can find out with the help of many willing tech giants, for instance why should people like me watch your kind of videos ? Then home on to people like me – unmasking !
im at risk for always laughably remembering how much satisfaction it sounds that Guy gets from saying the word shitcoin
This video was ahead of its time.
Guy is the Man!! Thank you sir. Salute
USDOGE NEW COIN LETS GOO! YOU HEARD IT HERE FIRST DON'T MAKE THE SAME MISTAKE!
Nice Video sir keep going on, I make huge profits on my investment since I started
trading with Lillian Wilson, her trading strategies are top notch
Great video!
Thnks
i love you my guy
👍🏼
"Centralised shit coin" made me laugh 🙂
Keep up the great work!
“Hopium smokers” 😂😂😂
U r dead on the money… CB and gomen are warming us up to digital money under their control.
CB has ruled the world for so long and enslave worlds population.
Policians and gomen are their working dogs…
CB runs all the worlds organisations and education systems with media as their loudspeaker to dumb the populace….
So the future of defi???
🤔🤔🤔
Unless it is hosted on decentralised network.
Decentralised internet???
Two thoughts on quantum threat.
1. Only possible assailant would be a competitor, not a thief. A fiat entity would win by "hacking" bitcoin, but a thief' would destroy the monetary value if successful, right? Love the content lad.
This is one of the main reasons diversity is essential. No one knows all possible outcomes, so don't over-extend in one asset and always diversify. It has paid off tremendously for my wife ans I.
Watching this in July, btc is no longer being mined in China….
You are the Best by a country mile.
CBDCs are the pinnacle of a dystopian future…
They could all just agree to buy and "burn" BTC with their fiat tokens.
Miners threat gone now 😀
I actually think the biggest threat is the insolvency of tether. If this stable coin liquidity provider goes defunct, the crypto market will suffer in the short and medium term. And could even "justify" longterm devastating crypto regulations.
Ontario Canada is absolutely reeling from the OSC restriction against binance. Crypto need to get an advocacy voice.
With recent exodus of Chinese miners out of China, there is one less problem now.
103k visulizações and just 7.7k LIKEs…. theses greate videos take time and work… lets LIKE please….
One of the very best analyses on crypto I've ever heard!
The only risk you miss is Elon musk and some whale tweet
in terms of the quantum computing threat isn't that potentially a threat to everything in terms of security if they could just solve and crack any problem; quantum encryption needed asap 😉
I really appreciate this Guy! ❤️
alot of people think taxing crypto is bad, while you can argue its good for its acceptance into society
The biggest threat to Bitcoin is its uncontrollable footprint. It could be replaced by another coin slowly before having a chance to migrate. Bitcoin can lost its throne for sure and I think it has more than 50% that it will happen.
Happy Birthday Guy 🎂 Keep the amaze videos going #Coinbureau #Doge 🚀🚀🚀🚀🚀🌚
I mean, we have bigger problems if sha 256 is hacked by a quantum computer. thats not just btc its the whole internet.
"Texas has dirt-cheap electricity"
That didn't age well
Oh and solar storm ofc
The first anti-China vid from coin bureau I´ve seen.
Once again bravo!
Please get rid of the stupid faces ,your much bigger then faces, don’t need them
7:38 this aged like milk 🤣 who would have foreseen that less than 3 months later there would be Texans paying $20k+ on 2 weeks of electricity due to a snow storm?
Alex Jones thinks Bitcoin was created by aliens. Therefore, uncrackable.
Yes the Communist Party will be much willing to do that once the leaders figured it out. Watch China Uncensored in Youtube they have a video titled China declares War on Bitcoin considering they have a new digital currency the digital yuan (because they wanted have more control) and bitcoin will be a threat to it.
Opium smokers lol
I'd attack Satoshi's wallet with the quantum computer.
Texas cheap energy… yeah, until their unregulated grids and electric companies suffer a cold front… then the bills are sky high, and some literally die.
Quantum computing will be the end of block chain.
And I'm actually surprised how quick quantum computing is advancing. IBM suspects to have a 2,000 qubit computer by 2022/2023. And they're guessing that using this will understand how to scale to mega qubytes.
You only need 1,500 quibits… working qubits…. because error correction uses up a percentage of quibits… error correction means running the problem multiple times at once to discern errors… 5 with one answer and 2 or 1 with different answers, the odd answers are considered errors and thrown out.
So it's happening sooner then we think… I give in 7 to 12 years for a 1 to 10 megaqubytes computer… that's sufficient to do things that rock my brain…
The number of just the qubit computational power is 2 to the qubit power… so 2,000 qubits is 2 to the 2,000 power… which is several times more atoms in the observable universe.
10 megaqubytes is number consisting of 6,020,599 digits. or 6,020.599 googols…. 92,624.6 observable universes to fill entirely with grains of sand.
A one 1megaqubyte computer would be 602,059 digits long or 6337.463 observable universes to fill full with grains of sand.
Calculators will usually just provide the answer to infinity to either 2^20,000,000 or 2^,1,000,000
So you easier to is to get number of digits… 20,000,000 Log(2) for 10 mega qubytes and for 1mega qubytes 2,000,000 log (2).
Great content Guy! Thank you! Cannot imagine any world power permitting quantum computers in personal hands. Easy to imagine them being treated like nuclear weapons.