Bitcoin flaw could let group take control of currency

[ijphlrnxewho]

Bitcoin flaw could let group take control of currency
http://money.cnn.com/2013/11/04/technology/bitcoin-flaw/

Researchers Say 'Bitcoin Is Broken' And Could Collapse
 http://www.businessinsider.com/researchers-say-bitcoin-is-broken-and-could-collapse-2013-11

[Melbustus]

Old and overblown news. Here's the more detailed tech thread on it, which notes, among other things, that the basic idea of this attack has been discussed for 3 years now:

https://bitcointalk.org/index.php?topic=324413.0

Something to be addressed long-term, but not a big deal. This thread's title is pretty misleading once you understand the issue.

[keatonatron]

Solving a puzzle gives miners a much higher chance of solving the next one

As far as I know, that's not how it works. Is it?

[gannicus]

What everyone does when they "discover" a flaw to get bitcoins easily:

1. Get bitcoins easily, and then go do media with proof of what they did and could do

2. Claims they know how to do it <---------------

[BittBurger]

You're going to see more and more of these nonsense articles as Visa and Mastercard and the Banks start to worry for their profits.
Scaring people away from Bitcoin will be the most effective and common way to stifle its growth.
One mention of "hackers" and most people would never put their money into such a risky environment.

[Coinseeker]

You're going to see more and more of these nonsense articles as Visa and Mastercard and the Banks start to worry for their profits.
Scaring people away from Bitcoin will be the most effective and common way to stifle its growth.
One mention of "hackers" and most people would never put their money into such a risky environment.

Except Visa and Mastercard have nothing to fear from Bitcoin, since Bitcoin doesn't scale and could never handle the transaction volume of either.  Let's not even start with banks and actual real world currencies.  

[Rassah]

You're going to see more and more of these nonsense articles as Visa and Mastercard and the Banks start to worry for their profits.
Scaring people away from Bitcoin will be the most effective and common way to stifle its growth.
One mention of "hackers" and most people would never put their money into such a risky environment.

Except Visa and Mastercard have nothing to fear from Bitcoin, since Bitcoin doesn't scale and could never handle the transaction volume of either.  Let's not even start with banks and actual real world currencies.  

According to people who actually know what they are talking about (https://en.bitcoin.it/wiki/Scalability) Bitcoin scales quite well, and can easily do many times the transaction volume of Visa and Mastercard.

[fghj]

What everyone does when they "discover" a flaw to get bitcoins easily:

1. Get bitcoins easily, and then go do media with proof of what they did and could do

2. Claims they know how to do it <---------------

3. Bitcoin is broken srsly send 1BTC to 1totallynotmineaddress and it will send you back 2, hurry before they patch it up

[ijphlrnxewho]

Bitcoin mining network vulnerability ‘not a big deal’
http://www.coindesk.com/bitcoin-mining-network-vulnerability/

[ijphlrnxewho]

Bitcoin Vulnerability Could Allow Malicious Miners to Seize Control
http://www.technologyreview.com/view/521521/bitcoin-vulnerability-could-allow-malicious-miners-to-seize-control/

[Barek]

It's getting old.

Amazing how much coverage a half baked paper gets that has not even been peer reviewed, yet.

The "problem" has been discussed years and years ago.

[freedomno1]

Mumble take over the testcoins lol practice for the real thing 

[mistermint]

Bitcoin troll could bore everyone shitless by posting really old news that news outlets only just got wind of:
https://bitcointalk.org/index.php?topic=325225.0

Community thinks Actor Tom Troll's brain is broken and could collapse:
https://bitcointalk.org/index.php?topic=325225.0

[Raoul Duke]

Bitcoin troll could bore everyone shitless by posting really old news that news outlets only just got wind of:
https://bitcointalk.org/index.php?topic=325225.0

Community thinks Actor Tom Troll's brain is broken and could collapse:
https://bitcointalk.org/index.php?topic=325225.0

QFT

[Blueberry408]

It's pool mentality.. I suppose that explains all those "xyz pool is hiding block data from us"
It's competitive against waves of increased hash power, but the kind of competition that US persons are not accustomed to. They risk splitting the chain each time to a degree the bitcoin supersystem May or May Not be Able to handle. Of course the typical doom is heard from the shortsighted.

Bitcoin flaw could let group take control of currency
http://money.cnn.com/2013/11/04/technology/bitcoin-flaw/

Researchers Say 'Bitcoin Is Broken' And Could Collapse
 http://www.businessinsider.com/researchers-say-bitcoin-is-broken-and-could-collapse-2013-11


MOD NOTE:
Removed advertisement from post

[Come-from-Beyond]

According to people who actually know what they are talking about (https://en.bitcoin.it/wiki/Scalability) Bitcoin scales quite well, and can easily do many times the transaction volume of Visa and Mastercard.

Will it be able to run on anything except NSA supercomputers then?

[Rassah]

According to people who actually know what they are talking about (https://en.bitcoin.it/wiki/Scalability) Bitcoin scales quite well, and can easily do many times the transaction volume of Visa and Mastercard.

Will it be able to run on anything except NSA supercomputers then?

You didn't read the link, as it answers that question.

[beetcoin]

i researched a bit on the OP and he just sounds looney http://www.cuongvtruong.com/

refers to himself as "his majesty the King." he is a prophetic "son of god in the 21st century."

[Lauda]

This is old news.

[Come-from-Beyond]

You didn't read the link, as it answers that question.

30,000 tps == 5.85 MiB/s (30000 tps * 0.2 KiB) == 493 GiB/day (5.85 MiB/s * 86400 s)

If u mean SPV mode... I'm talking about the full mode. Half a terrabyte is the lowest bound assuming transactions r very small. My HDD will be filled completely within 2 days. Maybe it's just my problem.