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... there are laudable aspects to wanting to better your own position, but when that comes at the expense of altruism you cross the line ...
If you hang around this forum a while, you will see countless examples of altruistic behavior from self-professed libertarians. Libertarianism rejects the idea of being forced to be altruistic, but it doesn't reject voluntary altruism. It shows a lack of understanding of the human spirit to imagine that people are "good enough" to coerce others into being "altruistic" through the mechanisms of the state, yet are not "good enough" to be altruistic in the absence of a coercive state. Anyway, history shows that those who wield control in a coercive state are more likely to enrich themselves than be altruistic. You can find altruism in any ideology. I personally don't care if someone is a libertarian, socialist, radical feminist, anarchist, or what. Just don't be anything psychotic, like a democrat or republican. |
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It seems to me that if you had >50% of network nodes running a modified version of the BTC client then they could, given a bit of time, verify forged bitcoins. Eventually (time is key) the forged chains of block transactions would become longer the legitimate ones and even honest clients would accept them. And I am just talking about >50% of nodes, not processing power
No one can ever create new bitcoins in an illegal way, even if they have 99.99% of the network. Similarly, no one can ever spend coins that they have never owned in the past. Network nodes can't influence transaction verification unless they control a very large portion (>80%) of the network. They need to segment the network, surround peers, or block transaction/block propagation. It is a design goal of Bitcoin for network nodes to be as powerless as possible. Only computational power should matter. Thanks for your response, and it seems like you are (and I hope you are) probably correct. But a quick scenario: If I made a fake bitcoin client, with proof of work already done for thousands of blocks (performed by servers as I am writing my fake bitcoin software) and longer chains than the honest nodes. If I distributed my fake bitcoin and reach 50% + 1 and some time, how would the honest nodes know to reject my blocks? If my proof of work is longer and the blocks I fake are recent? And if I already had the proof of work, doesn't the need for computing power go away, since verification is fast and easy? (Apologies if this has been answered before, and I am somewhat new to crypto.) |
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MoRay,
Are you OK with posting the source code on github so that we can work on it collaboratively, have an issue queue, etc?
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No. I applied for it, but they don't like that fact I use my own classes there...
Can you explain this? And post a link to your CVS application so that I can comment on it? I want this on drupal.org. Thanks for the module. I am happy to help with testing and any work that may need to be done on it. |
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thevoid, did this end up working out?
I have used mybitcoin.com without any problems but I can't speak for Bitcoin2cc.
Would love to hear that everything worked out...
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As far as i understand, controlling >50% of the network would only allow some double-spending attacks.
Is this correct? It seems to me that if you had >50% of network nodes running a modified version of the BTC client then they could, given a bit of time, verify forged bitcoins. Eventually (time is key) the forged chains of block transactions would become longer the legitimate ones and even honest clients would accept them. And I am just talking about >50% of nodes, not processing power Am I wrong? |
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It would have had to have been Monday, which is a holiday. Sounds like we have an underwear-wearin' fed-hatin' bitcoin cowboy.
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OK. I have decided to do this Monday morning (the 21st), if nobody does it on Friday (the 18th).
Somebody better step up, and on Friday, or I am on this Monday.
no one responds in the thread for weeks and right after I invest time and energy in setting up a tuesday date, someone decides to do it one day earlier. whatever, its all yours. I am happy to let you do this. Just let me know today, so I can make plans for going into the city, or not. |
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OK. I have decided to do this Monday morning (the 21st), if nobody does it on Friday (the 18th).
Somebody better step up, and on Friday, or I am on this Monday.
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When calculating the dollar amount of the storage, you would want to take back-ups into account. My data is backed up locally, backed up via Carbonite, and probably on DropBox.
This means that if I was running a bitcoin node, you would need to count my back up drive, the drop box (which would be the most expensive part), and the bandwidth involved in moving the copy to Dropbox and backup to Carbonite.
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