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Author Topic: [2015-08-17] Snowden: Bitcoin is flawed and nobody likes to talk it anymore  (Read 1128 times)
milaliss
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August 17, 2015, 09:29:02 AM
 #1

Edward Snowden: Bitcoin is flawed and nobody likes to talk it anymore

Famous whistleblower Edward Snowden criticized bitcoin during the Internet Engineering Task Force Meeting in Prague. He said that bitcoin has many flaws, but the technology behind it is interesting.
http://www.coinfox.info/news/persons/2749-edward-snowden-bitcoin-is-flawed-and-nobody-likes-to-talk-it-anymore
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TraderTimm
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August 17, 2015, 01:21:27 PM
 #2

He hasn't taken a deep-dive into the protocol, as you can see from his quote regarding 51% attacks - he views that as a fatal flaw, as the rest of us understand that such an attack takes enormous resources not only to mount, but to maintain such a position. (And nobody has ever gotten an upper hand that way in Bitcoin's history - specifically by introducing their longest chain with forged or retracted transactions, either). Some pools may have come close to the line, but it wasn't the end of the entire system.

I think he has other things on his mind, most notably extending his stay in the former USSR or getting asylum in another country to prevent his extradition. That's what I chalk it all down to, he read some bullet list somewhere and didn't really take the time to consider the system in its entirety.

fortitudinem multis - catenum regit omnia
Carlton Banks
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August 17, 2015, 04:03:14 PM
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I think he has other things on his mind, most notably extending his stay in the former USSR or getting asylum in another country to prevent his extradition. That's what I chalk it all down to, he read some bullet list somewhere and didn't really take the time to consider the system in its entirety.

Another credible interpretation is that he is a propagandist, using his "credentials" to promote the views of his handlers. Snowden is a very suspicious character when you look closely at the details surrounding the events of his 2013 "manhunt" and of his life history in general.

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Coogan
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August 17, 2015, 06:52:18 PM
 #4

He hasn't taken a deep-dive into the protocol, as you can see from his quote regarding 51% attacks - he views that as a fatal flaw, as the rest of us understand that such an attack takes enormous resources not only to mount, but to maintain such a position.

Not to mention it would be kinda pointless for them to do as far as I understand.

I think he has other things on his mind, most notably extending his stay in the former USSR or getting asylum in another country to prevent his extradition. That's what I chalk it all down to, he read some bullet list somewhere and didn't really take the time to consider the system in its entirety.

Another credible interpretation is that he is a propagandist, using his "credentials" to promote the views of his handlers. Snowden is a very suspicious character when you look closely at the details surrounding the events of his 2013 "manhunt" and of his life history in general.

What was suspicious about him?
Carlton Banks
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August 17, 2015, 07:22:42 PM
Last edit: September 02, 2015, 07:55:21 PM by Carlton Banks
 #5

He hasn't taken a deep-dive into the protocol, as you can see from his quote regarding 51% attacks - he views that as a fatal flaw, as the rest of us understand that such an attack takes enormous resources not only to mount, but to maintain such a position.

Not to mention it would be kinda pointless for them to do as far as I understand.

I think he has other things on his mind, most notably extending his stay in the former USSR or getting asylum in another country to prevent his extradition. That's what I chalk it all down to, he read some bullet list somewhere and didn't really take the time to consider the system in its entirety.

Another credible interpretation is that he is a propagandist, using his "credentials" to promote the views of his handlers. Snowden is a very suspicious character when you look closely at the details surrounding the events of his 2013 "manhunt" and of his life history in general.

What was suspicious about him?

He wasn't just any surveillance IT contractor, he was a long term CIA recruit. The circumstances surrounding the international manhunt were not totally plausible (he had developed connections to high ups in the IT surveillance field, but was apparently not being watched). The details of how he managed to collect his whistleblowing material were also implausible, although I've only just remembered that point and have forgotten the details. Glenn Greenwald is also highly suspect, the organisation (Salon magazine/Omidyaar Networks) he sold the Snowden leaks to have direct connections to... BoozAllenHamilton.

There's more, if you have time for a podcast or three:

Tom Secker Clandestime: https://vimeo.com/channels/clandestime/133790151

Pearse Redmond Porkins Policy Review: https://www.youtube.com/watch?v=dy0vwq8ycek

Tom Secker Clandestime: https://vimeo.com/channels/clandestime/133789142


The detailed examination of Snowden is in the Pearse Redmond podcast above, but I might have misremembered, so it's definitely in one of the Tom Secker ones if not.



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RodeoX
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August 17, 2015, 07:35:19 PM
 #6

How the fuck would Snowden know? He is basically under house arrest in a country that is hostile to bitcoin.  Roll Eyes

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August 17, 2015, 07:44:28 PM
 #7

How the fuck would Snowden know? He is basically under house arrest in a country that is hostile to bitcoin.  Roll Eyes

What, you mean a 32 year old, career long IT surveillance specialist, who no doubt studied cryptography before he was out of college? That's the last type of person I'd rely on to understand bitcoin, sure  Roll Eyes

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RodeoX
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August 17, 2015, 07:53:10 PM
 #8

How the fuck would Snowden know? He is basically under house arrest in a country that is hostile to bitcoin.  Roll Eyes

What, you mean a 32 year old, career long IT surveillance specialist, who no doubt studied cryptography before he was out of college? That's the last type of person I'd rely on to understand bitcoin, sure  Roll Eyes
Yet he talks about a 51% attack like a nubie. It looks like he read for about an hour and started bla-bla-bla-ing.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf
Free bitcoin in ? - Stay tuned for this years Bitcoin hunt!
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August 17, 2015, 07:59:29 PM
 #9

In Soviet Russia, 51% attacks you!

Saying that you don't trust someone because of their behavior is completely valid.
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August 17, 2015, 10:03:42 PM
 #10

Does Snowden have regular access to a high speed Internet connection? Is he allowed to run a full node?

Looking to review Bitcoin / Crypto mining Hardware.
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August 18, 2015, 01:11:09 AM
 #11

Does Snowden have regular access to a high speed Internet connection? Is he allowed to run a full node?

Snowden has the full faith and credit of the Federal Government.

Is he allowed to run a full node?
He can run, but he cannot hide

Collymore
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August 18, 2015, 08:25:28 AM
 #12

He hasn't taken a deep-dive into the protocol, as you can see from his quote regarding 51% attacks


I agree. He seems far from an expert on bitcoin, though you would think he would have more knowledge. Though maybe he's looking at it from a neutral position and we are biased slightly as I guess a 51% attack could happen so it could be an issue though likely wont. And if that's his only issue with bitcoin its not too bad at all.
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August 18, 2015, 10:15:44 AM
Last edit: August 18, 2015, 10:30:38 AM by Kprawn
 #13

I think I have to go with TraderTimm on this... He just followed the media propaganda talk, and did not do his home work. If he did, his view on the impact of a 51% attack is wrong, and someone needs to
enlighten him.

It's like Warren Buffet and his views towards Bitcoin. " I do not understand it... therefore I talk smack about it " Someone just need to sit down with these people and explain to them the real details and once they

get it 100% .... they would support it 100%. We have the people and the technology... and Bitcoin is a piece of code that can be changed to fill the holes.  Tongue

freebitcoin.TO WIN A  LAMBORGHINI!..

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cr1776
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August 18, 2015, 01:17:32 PM
 #14

He hasn't taken a deep-dive into the protocol, as you can see from his quote regarding 51% attacks


I agree. He seems far from an expert on bitcoin, though you would think he would have more knowledge. Though maybe he's looking at it from a neutral position and we are biased slightly as I guess a 51% attack could happen so it could be an issue though likely wont. And if that's his only issue with bitcoin its not too bad at all.

I would agree.  You can know a lot of IT, a lot about encryption but if you haven't really looked in lots of detail about the protocol, it is easy to be misinformed.

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