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TiagoTiago
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February 23, 2011, 09:01:08 PM |
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A modified client? Would that modified client be able to insert artificially created money (versus "naturally" occurring money that is found with mining) into the network, the illusion ends at the modified client?
What if the bad block include the emergence of mined money (currently 50BTC) ? How does the network prunes false births of bitcoins?
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(I dont always get new reply notifications, pls send a pm when you think it has happened) Wanna gimme some BTC/BCH for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX  The more you believe in Bitcoin, and the more you show you do to other people, the faster the real value will soar! |
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casascius
Mike Caldwell
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Activity: 1386
Merit: 1140
The Casascius 1oz 10BTC Silver Round (w/ Gold B)
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February 23, 2011, 09:29:54 PM |
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A modified client? Would that modified client be able to insert artificially created money (versus "naturally" occurring money that is found with mining) into the network, the illusion ends at the modified client?
What if the bad block include the emergence of mined money (currently 50BTC) ? How does the network prunes false births of bitcoins?
Correct, illusion ends at modified client. If a block is thrown out, the mined coins are thrown out with it. That is why you have to wait a certain period before you can spend mined coins, to make sure they aren't void. (example, if 2 people solve the same block at the same time, one of them will be completely rejected by the longest proof of work rule within two or three blocks). |
Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable. I never believe them. If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins. I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion. Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice. Don't keep coins online. Use paper or hardware wallets instead.
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Drumah
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May 30, 2011, 04:42:00 PM |
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Not to be very blunt.... But what would stop someone from hiring a botnet of 30.000 PC's, install a shitload of modified clients and poison the network into uselessness with false transactions ? As long as those 30.000 PC's are spitting out 'valid' packets of what they say is true, there's a lot of legitimate CPU/GPU power needed to counter that.. Just a thought though  |
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rezin777
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May 30, 2011, 04:47:30 PM |
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But what would stop someone from hiring a botnet of 30.000 PC's, install a shitload of modified clients and poison the network into uselessness with false transactions ?
Math. |
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Drumah
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May 30, 2011, 04:52:58 PM |
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But what would stop someone from hiring a botnet of 30.000 PC's, install a shitload of modified clients and poison the network into uselessness with false transactions ?
Math. That contradicts: THe fact that the network has more CPU power than me - and can generate more "proof of work" than me - makes that impossible. I could make 1 fake block at best, but it would be overwhelmed by everyone else's blocks and my money would quickly be recorded as spent. If criminals would utilize one of the bigger botnets to do some heavy duty poisoning by sending out fake transactions and re-spending their coins over and over again. It's all a matter of who has the most CPU power then, that makes Bitcoin very attractive to attempt and exploit this for owners of large botnets, wouldn't it ? |
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gigitrix
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May 30, 2011, 04:54:17 PM |
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Not to be very blunt.... But what would stop someone from hiring a botnet of 30.000 PC's, install a shitload of modified clients and poison the network into uselessness with false transactions ? As long as those 30.000 PC's are spitting out 'valid' packets of what they say is true, there's a lot of legitimate CPU/GPU power needed to counter that.. Just a thought though 30,000 PCs probably wouldn't leave much of a dent on the infrastructure we have now. Also, botnets are quite expensive, and more money can be made doing other stuff with them. |
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JA37
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May 30, 2011, 05:12:16 PM |
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But leaving your cpu running will theoretically allow you to find a block, and as such cash in almost $500, right? Odds aren't worse than playing any regular lottery?
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rezin777
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May 30, 2011, 05:13:40 PM |
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But leaving your cpu running will theoretically allow you to find a block, and as such cash in almost $500, right? Odds aren't worse than playing any regular lottery?
Well, does your CPU run for free? |
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JA37
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May 30, 2011, 05:15:28 PM |
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It does if I run it on someone elses power (like a client) and it's a company laptop.  It's not like they can tell what I'm running on the machine I bring to the office. |
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rebuilder
Legendary
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Activity: 1615
Merit: 1000
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May 30, 2011, 05:53:29 PM |
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But leaving your cpu running will theoretically allow you to find a block, and as such cash in almost $500, right? Odds aren't worse than playing any regular lottery?
The odds in a regular lottery are dismal. |
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qbg
Member
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Merit: 10
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May 30, 2011, 06:17:36 PM |
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Not to be very blunt.... But what would stop someone from hiring a botnet of 30.000 PC's, install a shitload of modified clients and poison the network into uselessness with false transactions ? As long as those 30.000 PC's are spitting out 'valid' packets of what they say is true, there's a lot of legitimate CPU/GPU power needed to counter that.. Just a thought though The unmodified clients won't accept the invalid blocks generated by the modified clients, and so the coins produced by the modified clients won't be accepted by the other users. In effect, the person ends up creating a new currency accepted by no one. |
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