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Author Topic: Organized campaign to discredit / destroy BTC?  (Read 1543 times)
thechevalier
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July 11, 2011, 05:25:45 AM
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I just watched The Bitcoin Report Vol. 21, and the guy doing the show (I don't know his name) made a fairly convincing case that there's a campaign to take the wind out of Bitcoin. He counts the Mt. Gox hack and mining pool DDoS attacks as part of it. He also pointed out some pretty strange spam on YouTube which seems to have been posted in attempt to pollute search results for Bitcoin videos. That seems to be the latest phase of the alleged attack.

Bitcoin Report 21: http://www.youtube.com/watch?v=oJ_Ndua0-n4

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fourpointplay
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July 11, 2011, 05:30:31 AM
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Opinions?


There is nothing. Just a part of btc being more attractive to people who do fishier stuff with computers than the average crowd.

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RandyFolds
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July 11, 2011, 06:11:00 AM
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Typing Bitcoin into Youtube's search engine yields a bunch of pretty legitimate looking stuff. More likely, companies that track search trends to increase market exposure are picking up the word Bitcoin with Viagra, Cialis, Vicoden, Justin Bieber, and DVDA.

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July 11, 2011, 06:17:07 AM
 #4

Typing Bitcoin into Youtube's search engine yields a bunch of pretty legitimate looking stuff. More likely, companies that track search trends to increase market exposure are picking up the word Bitcoin with Viagra, Cialis, Vicoden, Justin Bieber, and DVDA.

+1

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July 11, 2011, 09:36:09 AM
 #5

http://forum.bitcoin.org/index.php?topic=27467.0

I wonder which user account on bitcoin7 that belongs too...
MsBitcoin
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July 11, 2011, 09:52:17 AM
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I read about the youtube stuff but if you search for bitcoin on youtube it doesn't seem to have had much effect.

FranciscoDancon
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July 11, 2011, 09:00:37 PM
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I'm not sure that there is currently an organized attempt to bring down bitcoin.  From what I understand, the Mt. Gox hacking was an attempt to steal bitcoins.

That being said, there will most definitely be an organized government effort to bring down bitcoin.  Probably won't happen for another couple of years because the government is slow and reactive rather than proactive, but it will happen as long as bitcoin continues to grow in popularity and use.  The people who run our government can't stand that something might be outside of their control.  Nothing makes them angrier. 

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July 13, 2011, 06:37:12 PM
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I'm not sure that there is currently an organized attempt to bring down bitcoin.  From what I understand, the Mt. Gox hacking was an attempt to steal bitcoins.

That being said, there will most definitely be an organized government effort to bring down bitcoin.  Probably won't happen for another couple of years because the government is slow and reactive rather than proactive, but it will happen as long as bitcoin continues to grow in popularity and use.  The people who run our government can't stand that something might be outside of their control.  Nothing makes them angrier. 

You can bet your bippie on that! Not just the Government per se, but the financial Oligarchy [which really owns/runs the Govt.]. They also have access to supercomputers or just huge corporate computer networks, that can (as I understand it) if more powerful than the total of all connected BTC users be used to steal the entire lot of 'em. Alternatively, they could just hire expert black hacker types to build bots, traps and trojans to  upset the system. Many a President and Administration were assassinated/overturned due to attempts to control the FED [or other high finance policy].....watch out! It's coming...the only question is WHEN! While BTC will never be as powerful as the FED, the idea could become as strong, and an incentive to move away from the financial institutions that run the ****ing planet and are the main backers of the intel organizations and MIICC. Again. Forewarned is forearmed.
banjo
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July 13, 2011, 06:48:26 PM
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I saw those bogus vids. still frame and no sound. I thot the same thing.
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July 13, 2011, 06:57:49 PM
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I'm not sure that there is currently an organized attempt to bring down bitcoin.  From what I understand, the Mt. Gox hacking was an attempt to steal bitcoins.

That being said, there will most definitely be an organized government effort to bring down bitcoin.  Probably won't happen for another couple of years because the government is slow and reactive rather than proactive, but it will happen as long as bitcoin continues to grow in popularity and use.  The people who run our government can't stand that something might be outside of their control.  Nothing makes them angrier. 

You can bet your bippie on that! Not just the Government per se, but the financial Oligarchy [which really owns/runs the Govt.]. They also have access to supercomputers or just huge corporate computer networks, that can (as I understand it) if more powerful than the total of all connected BTC users be used to steal the entire lot of 'em. Alternatively, they could just hire expert black hacker types to build bots, traps and trojans to  upset the system. Many a President and Administration were assassinated/overturned due to attempts to control the FED [or other high finance policy].....watch out! It's coming...the only question is WHEN! While BTC will never be as powerful as the FED, the idea could become as strong, and an incentive to move away from the financial institutions that run the ****ing planet and are the main backers of the intel organizations and MIICC. Again. Forewarned is forearmed.

Yeah...this kind of conspiracy theorist nonsense isn't helping anything.
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July 13, 2011, 07:01:43 PM
 #11

In all honesty, I think the Mt Gox attack is going to be good for BTC in the long run:

1. It forces providers of vital services like exchanges and eWallet providers to really re-consider their security measures, which is good for all of us.
2. It will help to cement public opinion of bitcoin as something with real value - after all, most people won't go out of their way to hack and steal something with no real value, right?

psypher246
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July 18, 2011, 01:22:37 PM
 #12

Hey guys,

So lets take off our tinfoil hats and keep the Mtgox hack as a isolated incident. If this is not an organized attempt to discredit bitcoin, what does the DDOS'ers gain by attacking pools? Whats the point?
gochk
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July 18, 2011, 01:36:10 PM
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I'm not at all surprise if that was true. And I would say, so far the organized campaign has been successful. Just look at BTC prices ... it's pretty unattractive these days.
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July 18, 2011, 01:37:36 PM
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In all honesty, I think the Mt Gox attack is going to be good for BTC in the long run.

Agreed, attacks can and will happen. It's interesting to see that bitcoin is already quite resilient in this respect. The more problems are faced and addressed, the more trust there will be in the future. As far security goes, nothing worse than a seemingly unchallenged system.
makomk
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July 18, 2011, 03:29:44 PM
 #15

Hey guys,

So lets take off our tinfoil hats and keep the Mtgox hack as a isolated incident. If this is not an organized attempt to discredit bitcoin, what does the DDOS'ers gain by attacking pools? Whats the point?
There are people with botnets that think mining bitcoins on them is a good way to make money. The pool owners disagree with this and have been cutting them off, partly because the number of low-hashrate users is disruptive to pool operation. You figure out the rest.

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Teach
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July 18, 2011, 07:12:16 PM
 #16

The banksters hate hate hate competition, so of course they will back a hack attack.
psypher246
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July 18, 2011, 08:54:30 PM
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There are people with botnets that think mining bitcoins on them is a good way to make money. The pool owners disagree with this and have been cutting them off, partly because the number of low-hashrate users is disruptive to pool operation. You figure out the rest.

hmm ok, i get it. So what is exactly being ddos'd. Is it on ip level or application level? or both? Too much ip traffic to handle or is the server bogged down by requests?
makomk
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July 19, 2011, 06:56:58 PM
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hmm ok, i get it. So what is exactly being ddos'd. Is it on ip level or application level? or both? Too much ip traffic to handle or is the server bogged down by requests?
I think some of the problems started with the botnet owners unintentionally bogging down the servers with requests, but all the actual intentional DDoSes are based on sending large amounts of data as far as I know.

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gigabytecoin
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July 19, 2011, 07:18:49 PM
 #19

So what if they are?

They would have to break SHA256 in order to really "destroy" BTC.

No publicity is bad publicity is what I always say.
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July 19, 2011, 07:20:31 PM
 #20

No one posting video to youtube is are going to destroy bitcoin.
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