Pitstop (OP)
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We who are about to Mine, Salute You!
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November 05, 2013, 11:26:00 AM |
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Bitcoin Is Broken - And not just superficially so, but fundamentally, at the core protocol level. We're not talking about a simple buffer overflow here, or even a badly designed API that can be easily patched; instead, the problem is intrinsic to the entire way Bitcoin works..... http://hackingdistributed.com/2013/11/04/bitcoin-is-broken/
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BCNext
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November 05, 2013, 11:32:09 AM |
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Published right when Bitcoin goes up. Coincidence? If I were you I would check the math before stating Bitcoin is broken. Anyone can publish a "whitepaper" with sophisticated calculations signed by a fake person.
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StarfishPrime
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November 05, 2013, 09:49:25 PM |
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I've got $250 that says it isn't.
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¦ ¦ ¦¦¦ ¦¦ ¦¦¦¦ ¦¦ ¦¦¦¦ ¦ ¦¦ ¦¦¦¦ ¦¦¦¦¦¦¦¦ ¦¦¦¦¦¦¦ ¦¦¦¦¦¦ ¦¦¦ ¦¦¦¦¦¦ ¦ ¦¦¦¦¦¦ ¦¦ ¦ ¦¦¦¦ ¦¦ ¦¦¦¦ ¦¦ ¦ ¦¦¦¦ ¦¦¦ ¦ ¦¦¦¦¦ ¦¦¦¦ ¦ ¦¦¦¦¦¦¦¦ ¦¦¦¦¦ ¦ ¦¦ ¦¦¦¦¦¦¦¦¦¦ ¦¦¦¦¦ ¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦ ¦¦¦¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦¦¦ ¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦¦ ¦¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦ ¦¦ ¦¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦ ¦ ¦ ¦¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦¦ ¦¦ ¦ ¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦¦ ¦ ¦ ¦ ¦¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦¦ ¦ ¦¦ ¦¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦¦ ¦¦ ¦¦ ¦ ¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦¦ ¦ ¦¦ ¦¦¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦ ¦¦ ¦ ¦ ¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦ ¦ ¦ ¦¦ ¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦ ¦ ¦¦ ¦ ¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦ ¦ ¦ ¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦¦ ¦ ¦¦ ¦¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦¦ ¦ ¦¦ ¦¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦¦¦ ¦ ¦¦ ¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦¦¦¦¦ ¦¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ ¦¦
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cypherdoc
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November 05, 2013, 09:51:35 PM |
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FUD
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cypherdoc
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November 05, 2013, 09:56:06 PM |
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is it already going back up?
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westkybitcoins
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Firstbits: Compromised. Thanks, Android!
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November 06, 2013, 12:00:26 AM |
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Bitcoin Is Broken - And not just superficially so, but fundamentally, at the core protocol level. We're not talking about a simple buffer overflow here, or even a badly designed API that can be easily patched; instead, the problem is intrinsic to the entire way Bitcoin works..... http://hackingdistributed.com/2013/11/04/bitcoin-is-broken/The 51% attack has been known about from the start. It's not a "flaw," it's a compromise made in order to get the specific features that make bitcoin what it is. It's constantly addressed and factored into the actions of the community. This is why many of us are happy with ASICs coming about; the higher the hashrate, the harder it is for any group to execute the attack. Although even if they did, there are limits to what a successful attacker could do, and how long they could sustain the attack. And regardless of all that, they still couldn't steal your coins.
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Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
... ... In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber... ... ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)... ... The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
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LAMarcellus
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November 06, 2013, 12:08:47 AM |
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/sigh
well if it's broken then these ___ BTC are worthless.
*boots computer to the sidewalk*
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The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion. – Albert Camus
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Deafboy
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November 06, 2013, 12:33:14 AM |
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Well, if "selfish" mining strategy is more profitable then the "honest", everybody will (in theory) switch to it so they can compete with each other. However, this technique hugely depends on luck while trying to propagate competing block through the network which will not always be successful.
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BeeCoin
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November 06, 2013, 11:22:46 AM |
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So this is just plain, old >50% attack? Is that it?
People love creating panic, indeed :-)
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Buffer Overflow
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November 06, 2013, 03:15:20 PM |
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Bitcoin Is Broken - And not just superficially so, but fundamentally, at the core protocol level. We're not talking about a simple buffer overflow here, or even a badly designed API that can be easily patched; instead, the problem is intrinsic to the entire way Bitcoin works..... http://hackingdistributed.com/2013/11/04/bitcoin-is-broken/No. If Bitcoin were broken the price would be exactly zero.
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The 4ner
aka newbitcoinqtuser
Hero Member
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R.I.P Silk Road 1.0
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November 06, 2013, 03:23:45 PM |
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I've got $250 that says it isn't.
No. We've got $272 that say it isn't! I'm so happy BTC broke its last high price record of $266. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Woot! woot!
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capnjames
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November 06, 2013, 03:39:31 PM |
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I've got $250 that says it isn't.
No. We've got $272 that say it isn't! I'm so happy BTC broke its last high price record of $266. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Woot! woot! Yey record high! ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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muddafudda
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November 06, 2013, 04:12:05 PM |
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Yep useless fud
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ekiro
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November 06, 2013, 04:24:28 PM |
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Bitcoin at risk of network attack, say researchersThe Bitcoin virtual currency is vulnerable to a "selfish" attack that would let someone gradually take control of the digital cash system.The theoretical attack tries to subvert the way that computers involved in Bitcoin share information. It plays upon the fact that everyone involved in keeping track of Bitcoin assumes all participants are honest. Such an attack could already be happening, said the US researchers who discovered the vulnerability. "Bitcoin is broken, " wrote Prof Emin Surer, one of the Cornell University scientists who developed the attack, in a blogpost describing the work. ...
http://www.bbc.co.uk/news/technology-24818975
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cypherdoc
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November 06, 2013, 04:57:14 PM |
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yep, i have to agree with the OP.
Bitcoin is broken to the upside!
Furthermore, Bitcoin is broken to a new high!
Yay!
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odolvlobo
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November 06, 2013, 05:16:30 PM |
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It is not a 51% attack. This is an attack that anyone can do, but the higher your hash rate, the more profitable it is.
Basically, the idea is to manipulate reporting of new blocks in a way that sometimes cheats other miners out of their block rewards. There are two natural resistances to this attack. 1. It works best if only one pool does it. If everyone does it, then everyone is equal and it fails. 2. The paper claims that the problem is that if a pool does it, then more people will join the pool putting it over 51%. However, the more people that join the pool, the less profit there will be from the attack, so there is an incentive to keep the pool small.
In short, there may not even be a problem, or there is a problem, it could be small.
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Pitstop (OP)
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November 09, 2013, 12:26:12 AM |
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Gez!! It's not my article! I just added it to get feedback! Man!! the value of BTC will continue to rise to unimaginable high's I believe!! Don't take the post as an attack, it was just a heads up!!
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