Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: LiteCoinGuy on June 15, 2014, 10:20:49 AM



Title: Removing Impediments to Bitcoin’s Success: A Risk Management Study
Post by: LiteCoinGuy on June 15, 2014, 10:20:49 AM
Removing Impediments to Bitcoin’s Success: A Risk Management Study

https://bitcoinfoundation.org/blog/wp-content/uploads/2014/04/Bitcoin-Risk-Management-Study-Spring-2014.pdf


Title: Re: Removing Impediments to Bitcoin’s Success: A Risk Management Study
Post by: blatchcorn on June 15, 2014, 10:23:45 AM
A 51% attack is way too probable for my likings.  This should be issue number 1 to fix.


Title: Re: Removing Impediments to Bitcoin’s Success: A Risk Management Study
Post by: Mowcore on June 15, 2014, 10:51:43 AM
A 51% attack is way too probable for my likings.  This should be issue number 1 to fix.

We got to 51% (again) and was there an attack?


Title: Re: Removing Impediments to Bitcoin’s Success: A Risk Management Study
Post by: blatchcorn on June 15, 2014, 11:04:17 AM
A 51% attack is way too probable for my likings.  This should be issue number 1 to fix.

We got to 51% (again) and was there an attack?

No there was not but the probability of an attack is still too high.  Just because something does not happen does not mean it is impossible.


Title: Re: Removing Impediments to Bitcoin’s Success: A Risk Management Study
Post by: beatljuice on June 15, 2014, 03:41:03 PM
While it still isn't impossible to have a 51% attack, I think the recent "scare" has moved enough people to P2Pool to reduce variance enough that it will be adopted more widely and greatly reduce the centralization.


Title: Re: Removing Impediments to Bitcoin’s Success: A Risk Management Study
Post by: Harley997 on June 15, 2014, 03:53:10 PM
A 51% attack is way too probable for my likings.  This should be issue number 1 to fix.

We got to 51% (again) and was there an attack?

No there was not but the probability of an attack is still too high.  Just because something does not happen does not mean it is impossible.

I would argue that the entities that could launch a 51% attach (large pool operators, cloud mining sellers) have too much of a vested interest in the Bitcoin economy to launch a 51% attack and would end up loosing more then they could steal in such an attack.