11–20 of 54 posts
[deleted]
Then these 32-bits provide the whereabouts of about $238 Billion dollars[1].
For this information to have a higher value-density, it must grant you a 0.01% chance of controlling all of the gold in Fort Knox.
Good luck getting in, getting out, and surviving the manhunt.
[1] Wikipedia
[deleted]
Considering that anyone trying to sell that much bitcoin at once would pretty much crash the currency, how much is it really worth? Perhaps some kind of revolutionary mathematical fact could be worth even more? This is a very interesting question. EDIT: A lot of people responding to me seem to be trying to contradict my argument by pointing out that if it was true, it would be true for almost everything. I don't get…
Considering when you sell all the gold in Fort Knox all at once would pretty much crash gold's value. How much is the gold in Fort Knox really worth?
Amount of present gold holdings: 147.3 million ounces. The gold is held as an asset of the United States at book value of $42.22 per ounce.
http://www.bloomberg.com/markets/commodities/futures/metals/
COMEX Gold Value: 1,250.40/per troy ounce
1 ounce = 0.911458333 troy ounces
$167,875,968,689 USD
You are correct. Selling that much gold at once would decimate the gold market.
Bruce Schneier once equated the security of a 256 bit private key by comparing the energy needed to brute force all possible combinations of 256 bits to the amount of energy harnessed for one year by a Dyson Sphere built around the sun. So maybe there's a correlation, in the sense of knowing the GPS coordinates of Fort Knox, and targeting it with an ICBM?
As an alternative to this, what about ICBM/Nuclear Launch codes - they have the potential to destroy a lot of value (both natural, material and psychological)? Or even a terrorist's planning information prior to an event? Or even genetic code?
As an alternative to this, what about ICBM/Nuclear Launch codes - they have the potential to destroy a lot of value (both natural, material and psychological)? Or even a terrorist's planning information prior to an event? Or even genetic code?
[1] http://www.damninteresting.com/ive-got-the-same-combination-...
As an alternative to this, what about ICBM/Nuclear Launch codes - they have the potential to destroy a lot of value (both natural, material and psychological)? Or even a terrorist's planning information prior to an event? Or even genetic code?
The difference is the private key gives the beholder power over the wallet at any time from anywhere in the world. No additional information is required.
Earlier quoted context omitted.
Considering when you sell all the gold in Fort Knox all at once would pretty much crash gold's value. How much is the gold in Fort Knox really worth?
http://www.usmint.gov/about_the_mint/fun_facts/?action=fun_f... Amount of present gold holdings: 147.3 million ounces. The gold is held as an asset of the United States at book value of $42.22 per ounce. http://www.bloomberg.com/markets/commodities/futures/metals/ COMEX Gold Value: 1,250.40/per troy ounce 1 ounce = 0.911458333 troy ounces $167,875,968,689 USD You are correct. Selling that much gold at once would deci…
To the true matter though is that valuing things by their liquid value is problematic especially when their liquidity isn't ever really going to be utilized.