Bitcoin Forum

Economy => Speculation => Topic started by: revans on November 29, 2013, 08:26:26 PM



Title: What happens if Bitcoin is compromised again?
Post by: revans on November 29, 2013, 08:26:26 PM
Bitcoin was completely subverted once, but it was sufficiently early in its development that the problem could be rolled back and there was no lasting damage. Given the current price of Bitcoins, the motivation for people to search for an create exploits is much larger. If Bitcoin was compromised now, could it recover?


Title: Re: What happens if Bitcoin is compromised again?
Post by: wobber on November 29, 2013, 08:30:33 PM
What happens if you get ignored an you cannot open new stupid threads every day?


Title: Re: What happens if Bitcoin is compromised again?
Post by: YoYa on November 29, 2013, 08:32:32 PM
Quote
Bitcoin was completely subverted once

Citation needed.


Quote
Given the current price of Bitcoins, the motivation for people to search for an create exploits is much larger.

The motivation for the worlds most talented hackers and software individuals has existed all along and they have been extremely busy trying to find exploits.

Quote
If Bitcoin was compromised now, could it recover?
Depends on the nature of the compromise. The encryption part is solid, the network is more vulnerable but any issues are recoverable, we'd get to see the bear market of 11 all over again, if you don't get caught, that's not a bad thing.


Title: Re: What happens if Bitcoin is compromised again?
Post by: revans on November 29, 2013, 08:36:00 PM
Quote
Bitcoin was completely subverted once

Citation needed.


Quote
Given the current price of Bitcoins, the motivation for people to search for an create exploits is much larger.

The motivation for the worlds most talented hackers and software individuals has existed all along and they have been extremely busy trying to find exploits.

Quote
If Bitcoin was compromised now, could it recover?
Depends on the nature of the compromise. The encryption part is solid, the network is more vulnerable but any issues are recoverable, we'd get to see the bear market of 11 all over again, if you don't get caught, that's not a bad thing.

CVE-2010-5139



Title: Re: What happens if Bitcoin is compromised again?
Post by: revans on November 29, 2013, 08:36:41 PM
What happens if you get ignored an you cannot open new stupid threads every day?

Somewhere a unicorn dies


Title: Re: What happens if Bitcoin is compromised again?
Post by: KFR on November 29, 2013, 08:38:31 PM
The real question is what happens when the trolls run out of stupid questions.  Is there a limitless supply of stupid questions?  And if that is the case, how can they hold any value?


Title: Re: What happens if Bitcoin is compromised again?
Post by: manoamano on November 29, 2013, 08:39:00 PM
It is not possible now, with the current network to do it again ..;


Title: Re: What happens if Bitcoin is compromised again?
Post by: GriTBitS on November 29, 2013, 09:39:26 PM
The real question is what happens when the trolls run out of stupid questions.  Is there a limitless supply of stupid questions?  And if that is the case, how can they hold any value?

Trolls are like fiat, they just keep making them!


Title: Re: What happens if Bitcoin is compromised again?
Post by: revans on November 29, 2013, 09:40:34 PM
It is not possible now, with the current network to do it again ..;

Empty hubris


Title: Re: What happens if Bitcoin is compromised again?
Post by: freethink2013 on November 29, 2013, 09:40:51 PM
The real question is what happens when the trolls run out of stupid questions.  Is there a limitless supply of stupid questions?  And if that is the case, how can they hold any value?

Stupid questions are the new tulips


Title: Re: What happens if Bitcoin is compromised again?
Post by: bitcoin44me on November 29, 2013, 09:54:23 PM
Obvious troll is obvious


Title: Re: What happens if Bitcoin is compromised again?
Post by: ChanceCoats123 on November 29, 2013, 09:57:46 PM
Actually, it's obvious that the number of these posts will crash because the current levels are completely unsustainable. I expect to see us back at 3-4 threads per week very soon.


Title: Re: What happens if Bitcoin is compromised again?
Post by: Bitcopia on November 29, 2013, 09:59:01 PM
Seriously, mods, is there a limit to how many threads a user can start? This is getting out of control.


Title: Re: What happens if Bitcoin is compromised again?
Post by: Hawker on November 29, 2013, 10:01:27 PM
Actually, it's obvious that the number of these posts will crash because the current levels are completely unsustainable. I expect to see us back at 3-4 threads per week very soon.

No! The Revans thread count is going TO THE MOON!!!!11!


Title: Re: What happens if Bitcoin is compromised again?
Post by: Buffer Overflow on November 29, 2013, 10:48:28 PM
Quote
Bitcoin was completely subverted once

Citation needed.

In fairness to revans he is correct.

https://web.nvd.nist.gov/view/vuln/detail?vulnId=CVE-2010-5139

I've come to the conclusion revans is a paid troll or someone in a financial business that will be hit bad when Bitcoin eventually renders it obsolete.


Title: Re: What happens if Bitcoin is compromised again?
Post by: revans on November 29, 2013, 11:04:35 PM
Quote
Bitcoin was completely subverted once

Citation needed.

In fairness to revans he is correct.

https://web.nvd.nist.gov/view/vuln/detail?vulnId=CVE-2010-5139

I've come to the conclusion revans is a paid troll or someone in a financial business that will be hit bad when Bitcoin eventually renders it obsolete.

Paid troll! I wish.


Title: Re: What happens if Bitcoin is compromised again?
Post by: bitcon on November 30, 2013, 01:05:50 AM
FUD master!


Title: Re: What happens if Bitcoin is compromised again?
Post by: revans on November 30, 2013, 01:07:25 AM
FUD master!

Fud is it?


If it happened once it can certainly happen again. It is ridiculous to suggest that Bitcoin is now beyond being exploited


Title: Re: What happens if Bitcoin is compromised again?
Post by: hacknoid on November 30, 2013, 01:15:04 AM
Seriously, mods, is there a limit to how many threads a user can start? This is getting out of control.

Don't forget the "ignore" button. Makes trading the forum much less frustrating! Although I am seeing a noticeable proportion of my thread list being grayed out now..  ;D


Title: Re: What happens if Bitcoin is compromised again?
Post by: Buffer Overflow on November 30, 2013, 05:21:31 AM
Paid troll! I wish.

Didn't deny the second option I see. I understand financial businesses are starting to worry a little over Bitcoin. I'll put you in that category.

Bitcoin may succeed, it may not. I don't know the answer, you don't know the answer, no-one else on this forum does. But what I do know is that FUD spreaders will not change the outcome.

Bitcoin isn't flawless, we all know that.
The question is 'is it good enough?'
*shrug* I don't know. We will all find out in time.


Title: Re: What happens if Bitcoin is compromised again?
Post by: gtabmx on November 30, 2013, 05:59:39 AM
Bitcoin was completely subverted once, but it was sufficiently early in its development that the problem could be rolled back and there was no lasting damage. Given the current price of Bitcoins, the motivation for people to search for an create exploits is much larger. If Bitcoin was compromised now, could it recover?

When was "Bitcoin completely subverted"? The fail of an exchange has no relationship to the integrity of a currency, just like the failure of the NASDAQ has not relationship to the integrity of the company of any of the stocks.


Title: Re: What happens if Bitcoin is compromised again?
Post by: Crazy on November 30, 2013, 06:02:48 AM
When was "Bitcoin completely subverted"? The fail of an exchange has no relationship to the integrity of a currency, just like the failure of the NASDAQ has not relationship to the integrity of the company of any of the stocks.
Read up a few posts. Though the information disclosed in the link won't make much sense to anyone without a technical background.


Title: Re: What happens if Bitcoin is compromised again?
Post by: gtabmx on November 30, 2013, 06:10:41 AM
When was "Bitcoin completely subverted"? The fail of an exchange has no relationship to the integrity of a currency, just like the failure of the NASDAQ has not relationship to the integrity of the company of any of the stocks.
Read up a few posts. Though the information disclosed in the link won't make much sense to anyone without a technical background.

That's fine, I shouldn't have an issue given my degree as a computer engineer and work experience developing software.

No bitcoin was stolen on that attack and it was quickly caught and neutralized. Not to mention that it actually demonstrates how the openess of the entire blockchain (and thus global bitcoin transactions) allows anyone to review what's going on to quickly report such issues. How many illegal attempted transactions or fraud schemes are going on right as we speak with fiat currencies, that we cannot detect?


Title: Re: What happens if Bitcoin is compromised again?
Post by: Crazy on November 30, 2013, 06:12:10 AM
If we can't detect it how would I know. :D


Title: Re: What happens if Bitcoin is compromised again?
Post by: pokerman on November 30, 2013, 07:06:09 AM
WTS: SQC  (StupidQuestionCoins) @ 0.000003 btc


Title: Re: What happens if Bitcoin is compromised again?
Post by: traderCJ on November 30, 2013, 09:10:32 AM
FUD master!

Fud is it?


If it happened once it can certainly happen again. It is ridiculous to suggest that Bitcoin is now beyond being exploited

How many TCP/IP exploits do we live with?  Or OS exploits?  My God man, hundreds of new viruses introduced daily, DDOS attacks, DNS spoofing, buffer overflow exploits.  The digital world is drowning in vulnerabilities and exploits.  But guess what?  They get patched and we move on.  It happened with BTC.  It happened with NMC.  It will happen many, many more times, I am sure.  And we'll have all the broken clocks like you in the room saying "see?  see?".  Price dips, then recovers .. and I'll roll my eyes .. hard  ::)


Title: Re: What happens if Bitcoin is compromised again?
Post by: Bitsurprise on November 30, 2013, 11:47:58 AM
Bitcoin was completely subverted once, but it was sufficiently early in its development that the problem could be rolled back and there was no lasting damage. Given the current price of Bitcoins, the motivation for people to search for an create exploits is much larger. If Bitcoin was compromised now, could it recover?

Agree with you the motivation is much higher right now , and i don't think it will recover cuz people will lose confidence , they will lose confidence anyway after the next big selloff , too much money on stake right now , this cant be compared to the $32 bubble , ofcourse no one will admit that cuz now we're in the delusion greed phase ...


Title: Re: What happens if Bitcoin is compromised again?
Post by: GigaCoin on November 30, 2013, 12:00:31 PM
History teaches us that no matter how secure technology is, it can and will always be hacked. Continuos development, security improvements and infrastructure enhancements help prevent or delay that from happening.


Title: Re: What happens if Bitcoin is compromised again?
Post by: enter`name`here on November 30, 2013, 02:45:35 PM
Quote
Bitcoin was completely subverted once

Citation needed.

In fairness to revans he is correct.

https://web.nvd.nist.gov/view/vuln/detail?vulnId=CVE-2010-5139

I've come to the conclusion revans is a paid troll or someone in a financial business that will be hit bad when Bitcoin eventually renders it obsolete.

Option 3 is that he is ideologically driven, If crypto currencies become dominant it will make it that much more difficult for the state to fund his particular brand of utopia.

Either way he doesn`t upset me that much. I`d say having people make faulty criticisms makes your position look stronger then if no one was making them at all, it shows their desperation.

"I have never made but one prayer to God, a very short one: 'O Lord make my enemies ridiculous.' And God granted it."
- Voltaire