What happens if Bitcoin is compromised again?

[gtabmx]

Bitcoin was completely subverted once, but it was sufficiently early in its development that the problem could be rolled back and there was no lasting damage. Given the current price of Bitcoins, the motivation for people to search for an create exploits is much larger. If Bitcoin was compromised now, could it recover?

When was "Bitcoin completely subverted"? The fail of an exchange has no relationship to the integrity of a currency, just like the failure of the NASDAQ has not relationship to the integrity of the company of any of the stocks.

[Crazy]

When was "Bitcoin completely subverted"? The fail of an exchange has no relationship to the integrity of a currency, just like the failure of the NASDAQ has not relationship to the integrity of the company of any of the stocks.

Read up a few posts. Though the information disclosed in the link won't make much sense to anyone without a technical background.

[gtabmx]

When was "Bitcoin completely subverted"? The fail of an exchange has no relationship to the integrity of a currency, just like the failure of the NASDAQ has not relationship to the integrity of the company of any of the stocks.

Read up a few posts. Though the information disclosed in the link won't make much sense to anyone without a technical background.

That's fine, I shouldn't have an issue given my degree as a computer engineer and work experience developing software.

No bitcoin was stolen on that attack and it was quickly caught and neutralized. Not to mention that it actually demonstrates how the openess of the entire blockchain (and thus global bitcoin transactions) allows anyone to review what's going on to quickly report such issues. How many illegal attempted transactions or fraud schemes are going on right as we speak with fiat currencies, that we cannot detect?

[Crazy]

If we can't detect it how would I know.

[pokerman]

WTS: SQC  (StupidQuestionCoins) @ 0.000003 btc

[traderCJ]

FUD master!

Fud is it?


If it happened once it can certainly happen again. It is ridiculous to suggest that Bitcoin is now beyond being exploited

How many TCP/IP exploits do we live with?  Or OS exploits?  My God man, hundreds of new viruses introduced daily, DDOS attacks, DNS spoofing, buffer overflow exploits.  The digital world is drowning in vulnerabilities and exploits.  But guess what?  They get patched and we move on.  It happened with BTC.  It happened with NMC.  It will happen many, many more times, I am sure.  And we'll have all the broken clocks like you in the room saying "see?  see?".  Price dips, then recovers .. and I'll roll my eyes .. hard 

[Bitsurprise]

Bitcoin was completely subverted once, but it was sufficiently early in its development that the problem could be rolled back and there was no lasting damage. Given the current price of Bitcoins, the motivation for people to search for an create exploits is much larger. If Bitcoin was compromised now, could it recover?

Agree with you the motivation is much higher right now , and i don't think it will recover cuz people will lose confidence , they will lose confidence anyway after the next big selloff , too much money on stake right now , this cant be compared to the $32 bubble , ofcourse no one will admit that cuz now we're in the delusion greed phase ...

[GigaCoin]

History teaches us that no matter how secure technology is, it can and will always be hacked. Continuos development, security improvements and infrastructure enhancements help prevent or delay that from happening.

[enter`name`here]

Bitcoin was completely subverted once

Citation needed.

In fairness to revans he is correct.

https://web.nvd.nist.gov/view/vuln/detail?vulnId=CVE-2010-5139

I've come to the conclusion revans is a paid troll or someone in a financial business that will be hit bad when Bitcoin eventually renders it obsolete.

Option 3 is that he is ideologically driven, If crypto currencies become dominant it will make it that much more difficult for the state to fund his particular brand of utopia.

Either way he doesn`t upset me that much. I`d say having people make faulty criticisms makes your position look stronger then if no one was making them at all, it shows their desperation.

"I have never made but one prayer to God, a very short one: 'O Lord make my enemies ridiculous.' And God granted it."
- Voltaire