Bitcoin Forum

These attackers, they are probably highly paid or have some other incentive bigger than we know. Bitcoin threatens the whole monetary system. A fight like this is to be expected.

We should expect bigger hits in the future. Be prepared. My words will prove true all in good time.

Update: For those who don't know, pools are being knocked down by DDOS attacks. There's no profit lying in plain sight with this one folks unlike the exchanges. There is an entity out there that wants this whole thing neutered.

Meh,

current attacks probably come from within the bitcoin community. Has to do with the recent price drops I'll assume.
If that will bring prices up or down is anyones guess but I'm sure it is related.

Bitcoin IS dangerous to the establishment financial system, but these little DDoS attacks are not done by some grand secret malicious organization.

When banks feel threatened by Bitcoin, they'll start attacking it via the regulatory and legal system. That's how they work. They'll get the senators mad about Bitcoin, and the cries will go out as in South Park, "there oughtta be a law!!!"

Occam's Razor is very important when pondering "what may be going on."

DDoS happens... doesn't really need much more explanation than that.

ddos today is nothing more than a timed attack trying to ease the downward pressure on the market trying to create a short timed rally. Maybe..  ;D

My guess... ddos is an attack to drop the network hash rate just before the next difficulty change in hopes it will get set at a much lower value...

Occam's Razor should never stand in the way of perfectly good chance to run around screaming "The Illuminati is out to get me!!!" whilst flailing arms about.

My initial reaction too.

How is your track record when it comes to that?


Oh, you answered my question already.

+1

I'm sure it makes you feel important to think Powerful Forces are behind incidents like this but get real.  At this point Bitcoin is so comically far from threatening the status quo that even if the secret cabal of fiat money overlords you're all worked up about existed, they'd be more worried about asteroids hitting the Earth than a niche cryptocurrency you can't actually buy anything with.

Before inventing conspiracies, look to the obvious.  In this case:  greed or boredom.  Someone's either trying to up their mining output by taking out the pools or just felt like fucking with other people's stuff because they were bored and wanted to see if they could.

Total value of bitcoins: about US$31 million
Total US money supply (M2): about $9,544,000 million

Yes, 'they' want to stop bitcoin because it's a threat.  'Those' powerful forces are DDoSing the major pools at the moment. 

My guess is the current DDoS action is an attempt to lower the hash rate right before the next difficulty adustment.  If we see the DDoSes stop in about 90 blocks time then we'll know that was the most plausible explanation.

easy, everything will go well.

I'm thinking this quote should follow every post immanuel makes

I was thinking that as well... but then I thought that the DDoS is separate event, and the massive hashrate drop could be a coordinated withdrawal of mining farm operators who communicated to withdrawal at the end of the round rather than the beginning or staggered, in order to minimize the damage.

I think the banksters are having much bigger and urgent issues at the moment, and BTC is still under the radar screen of 99,9%, but in case it will become a serious treath for them, I would bet that they will attack first of all manipulating the market like they are doing with gold and silver, causing booms and busts in the price (and profiting all the way), maybe even attempting to disrupt the network in any possible way, and attempting to create fake BTC like they sell paper gold and silver.

Luckily, interventions by law would not be effective (they would backfire being free advertising for BTC), otherwise it would be too easy.

http://www.fluoridealert.org/fluoride-dangers/health/index.aspx

unheard of with bitcoin  :-X

The Best Attack is for them to simply buy 100s of billions worth of bitcoins in a short amount of time while giving it massive amounts of positive media attention.
Of course they wouldn't get a return on their investment, but its not about money it's about power.

Here are the results:
      1) Current bitcoiners (very small population) would be so overcome with their wealth that it would be almost impossible to focus on improving bitcoin.
      2) Bounties would cease to exist entirely or become very rare.
      3) The huge spike in price would attract the whole world to get involved in bitcoins causing the bitcoin price to continue launch to high heaven.
      4) it peaks
      5) We watch a gradual price decline for the next several years with one negative news report after another (remember: they own the media).
      6) This new wealth attracts every schemer, con-man, and hacker in existence to attack every bitcoin web site for personal gain - which is easy considering most of the services are new and vulnerable.
      7) All new bitcoiners (which would be very large portion of the bitcoiners population) turn very pessimistic and negative towards the project and slowly give up one by one.
      8) The media circulates stories of how it is the money of drug lords and terrorist and start rumors of legislation.
      9) Thank goodness "Bitcoin is dead and behind us" attitude - it was just a fad.
      10) It lives on as niche-techy-nerdy currency that has little chance of rising again to challenge their systems - they just ignore us from then on.

Sound familiar ?!? :o

Do you realize that

1)we went through that once and we survived and we are now better prepared to face it once more?

2)that "The media circulates stories of how it is the money of drug lords and terrorist and start rumors of legislation" actually would make bitcoin price keep skyrocketing?

wow, let's try this see if we get to point 10 safe and sound :P

So much paranoia, im not saying that the u.s federal system doesnt have it out for bitcoin, but this ddos is NOT related to them or druglords, or any other hairbrained bs you guys can cook up.

Its just some dood that wanted to drop the difficulty some, and to retaliate against pool owners for not letting his bnet mine on their pools. (This is fact.)

Before you attack the OP too much, please remember that he is a confused 17 year old who still lives at home. He has had very little life experience, and his views of the world are gleaned from Ayn Rand books, wikipedia pages and conspiracy novels.

Don't be too hard on him.

I read something very similar elsewhere, I think that is all it is.   Just in case though for the rest of you, use this
http://www.shepherdminiatures.com/images/uploads/kitchen_foil.jpg
and this
http://www.mussergraphics.com/EPI_online_portfolio/Origami-Hat.jpg

Thank god for the incremental halving of the block reward  ;)

You need to just stop fucking posting. You are a dumbass kid who knows nothing.

Unremorsefully. Heh.

Classy

Unremorseful

The best form of "attack" is not being so damn STUPID all the time.

Yes I'm talking to you Atlas.

Your smarter than this kid.. Stop with the ADD and GET TO WORK.