Bitcoin Open to Takeover, Researchers Discover With New Algorithm

[mota966]

Nov. 4, 2013 — A major flaw that has gone unrealized until now leaves the $1.5 billion Bitcoin market open to manipulation and a potential takeover, according to a new study by two Cornell University computer scientists.
http://www.sciencedaily.com/releases/2013/11/131104112234.htm

[deadlyninja]

I wonder if this is fixable or if its going to be a permanent problem.

[Gator-hex]

The 51% attack has long been known about in the Bitcoin community it's nothing new.

Litecoin is the response to this if it worries you.

Litecoin also solves a number of other Bitcoin issues, such as the high transaction cost, and the unfairness of ASICs being in the hands of a few Elite.

[pontiacg5]

I wonder how many times this same thing is going to be reposed.

If you are seriously interested in learning why this isn't really a threat look for the "selfish mining" thread on this forum somewhere.

[deepceleron]

Don't trust research that comes with tweets from the authors "Immediate action required" "You heard it here first: now is a good time to sell your Bitcoins". https://twitter.com/el33th4xor

News reports are doing 0 research; "A major flaw that has gone unrealized until now" is just a plain lie.

[hermann1983]

Given we are in bubble, this article seems very bear-ish to me. 

Article translation: "Bitcoin has major flaw: sell now!"

[pand70]

The article doesn't give much information. Here is the actual paper http://arxiv.org/pdf/1311.0243v1.pdf if you want more details