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Author Topic: Thoughts On All This DDoS Garbage  (Read 2327 times)
Stunna
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April 22, 2013, 10:36:12 PM
 #21

Solution is cutting the reliance on mtgox and/or developing technologies that will mitigate ddos attacks.

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drhobomanxxiii
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April 22, 2013, 10:41:27 PM
 #22

I honestly don't think this is much of a problem at all. People are beginning to respond to the volatility by refusing to buy into it (or by attempting to profit from it.) Panic sells are diminishing in volume just as market depth is building on either side of the current price. This creates stability in prices.

Essentially, the people who tend to panic are also those who don't have long run faith in bitcoins as a currency, and they're either being driven out of the market or taught a costly but valuable lesson in order to stay in -- that lesson would be to stop trying to be a day trader.

So oddly enough, these attacks are probably very healthy for the long run stability of bitcoins, and that is what better enables the use of bitcoins as a unit of account. By the time the infrastructure is built up enough to handle these attacks, the attacks themselves will cease to be profitable to those engaging in them.

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April 23, 2013, 01:33:05 PM
 #23

The funny thing about DDoS attacks is that you need an IQ of 80 to execute them and an IQ of 90 to prevent them.

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April 23, 2013, 05:09:28 PM
 #24

We need an exchange BUILT IN to Bitcoin-QT (and FULLY supported by the bitcoin protocol).

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April 23, 2013, 07:04:33 PM
 #25

We need an exchange BUILT IN to Bitcoin-QT (and FULLY supported by the bitcoin protocol).
I wouldn't go so far as needing an entire exchange in a client because the client can only handle Bitcoin and not other currencies. The client can provide the information needed by a pricing overlay network. The information can be statistically analyzed (throwing out extreme deviations) with the average price result recorded into the block. This is what can be used for product pricing.

Exchange prices would not require adhering to the current block recorded price, but would be psychologically influenced by it.

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