Would this really be possible in the network.Any comments?
The parent post is borderline-gibberish that betrays fundamental misunderstandings of Bitcoin on several levels.
Let's establish a standard test then.
I create a wallet with 0 BTC. This is the source.
I create two accounts.
I transfer 1 BTC from one account to another.
I take the private key from the address holding the BTC using extractKeysFromWallet.
I add the private key to a new wallet containing 0 BTC. This is the carrier.
I then spend the 1 BTC to another wallet. This is the destination.
That concludes our test of the Emergency Butthurt Awareness System.
Yes, using editing tools you can make your wallet display crazy stuff. No, the crazy stuff has no influence on the outside world.
I'm not editing any values. I'm using the console client to create an address with 1BTC.
No, it's not a "security issue"— if you don't want your software displaying crazy stuff don't use recovery tools to twiddle with the non-user-serviceable parts. It's actually unlikely that the crazy values can will actually cause the loss of bitcoin, but not impossible (e.g. if you delete the private keys).
Not using anything to edit. Just moving atomic objects around.
Any negative numbers are meaningless in the context of the whole system Bitcoin tracks coins (transactions) not balances, and it certainly doesn't track bitcoind _account_ balanaces which are a purely local book-keeping function.
I know that. What I will test is a transaction from one account to another. If I can spend it from another wallet, Bitcoin is in trouble.
As far as the rest goes— Yes, you can remove coins from Bitcoin forever but you don't need his elaborate series of steps.
If I pulled a Madoff with this and destroyed a wallet containing coins others trusted me with we'd have serious issues. This is not preventable on a small scale, but if this attack works I would be able to do it in such a way that it destroyed the faith anyone had in the system.
Just send coins to a wallet which has no backups and destroy the wallet data and the coins are lost. Yippie! more scarcity for everyone else.
And loss of faith. Unfortunately most wouldn't see such an attack as equivalent to what the Fed does daily.