mktrader
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Hello World!!!
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April 30, 2014, 05:53:16 AM |
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Bitcoin core developers need to take the lead and introduce measures in the code to preempt such an attack in first place.
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Pente
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April 30, 2014, 06:14:44 AM |
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Bitcoin needs to be strong enough to defend itself against any attack. We must not trust any government nor seek their help/protection.
If any attack suceeds, we must pick up the pieces, repair the damage, protect against future attacks, and move on.
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LAMarcellus
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April 30, 2014, 12:18:08 PM |
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What I really think of government should best be kept in between my ears.
Mother always says, if you don't have anything nice to say, then say nothing.
Then may your shackles rest lightly and posterity forget that you were a brother. The way to deal with bullies, including governments bullies, it to show them their proper place. That proper place is not deep in our pockets, homes, lives, decisions, etc. http://www.zerohedge.com/news/2014-04-29/quote-day-larry-summers-elizabeth-warren-insiders-dont-criticize-other-insidersThe emperor is wearing no clothes!!! And he's armed and dangerous to you and I. Was that mean to say? Perhaps those with gentle sensibilities and heads firmly in the sand would say yes. I say the emperor needs to be told he's going full retard. Quit being a coward, Beef. My moms mom said the earth was flat. She was wrong. |
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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bountygiver
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Activity: 100
Merit: 10
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May 01, 2014, 02:00:23 AM |
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If you want to prevent 51% attacks.
We need millions of low price low power low hashrate ASIC so everyone can mine
Now mining is only done by rich people that owns big server farms which is a danger to the security of BTC itself.
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12dXW87Hhz3gUsXDDCB8rjJPsWdQzjwnm6
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windpath
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Activity: 1258
Merit: 1027
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May 01, 2014, 02:15:20 AM |
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Let's say a government tried to enact a law to prevent 51% attacks, how do you regulate it?
"You may go no higher then 50% of the Global hash rate"....
In today's centralized hashing environment it could create "hash wars" to try to eliminate competition...
Todays hash rate % example:
ghash.io = 26%
Discus Fish = 17%
BTC Guild = 11%
BTC Guild and Discus Fish decide they no longer wish to compete against ghash.io, both simultaneously shut down for lets say 10 blocks, which would probably take less then an hour with a 28% global hash rate drop. Then they fire back up.
ghash.io clearly has more then 51% of the hash rate for that hour, what then?
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Bit_Happy (OP)
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Activity: 2100
Merit: 1040
A Great Time to Start Something!
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May 01, 2014, 02:25:46 AM |
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Bitcoin core developers need to take the lead and introduce measures in the code to preempt such an attack in first place.
I do not know if that is possible. Is a POW/POS hybrid supposed to be safer/ "immune" from 51% attacks?CryptogenicBullion makes that claim (or at least they used to), I'm not certain how it will work out long-term. Let's say a government tried to enact a law to prevent 51% attacks, how do you regulate it?
...
Real good question. This was placed in the Bitcoin section, but the topic also applies to "local crypto terrorists" who launch attacks against alt coins and then brag about it in the forum. If they could be easily caught, should they face criminal charges? |
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pabpete
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May 01, 2014, 05:58:27 AM |
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I believe the community, and those in control of the majority shares should be held accountable for this. There should be a way to stop this from ever being an option.
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bryant.coleman
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Merit: 1217
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May 01, 2014, 07:18:27 AM |
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The thread is funny. How will the government prevent the 51% attacks? It can't. Just like it can't prevent tech savvy people from possessing and trading Bitcoins.  |
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Bit_Happy (OP)
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Activity: 2100
Merit: 1040
A Great Time to Start Something!
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May 01, 2014, 07:35:38 AM |
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The thread is funny. How will the government prevent the 51% attacks? It can't. Just like it can't prevent tech savvy people from possessing and trading Bitcoins. If someone brags here on the forum about attacking an alt coin & people lose money (for example), and somehow it is very easy to identify them, then should they be arrested? (for "financial fraud"/or something) |
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Crossbow376
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May 01, 2014, 01:11:43 PM |
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DDoS and hacking are illegal, but there are numerous DDoS and hacking attempts every day.
Even if 51% attacks becomes illegal, it won't prevent it from happening when people have ability and incentive to do it.
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Beef Supreme
Full Member
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Activity: 140
Merit: 100
Put your trust in MATH.
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May 01, 2014, 01:54:43 PM |
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What I really think of government should best be kept in between my ears.
Mother always says, if you don't have anything nice to say, then say nothing.
Then may your shackles rest lightly and posterity forget that you were a brother. The way to deal with bullies, including governments bullies, it to show them their proper place. That proper place is not deep in our pockets, homes, lives, decisions, etc. http://www.zerohedge.com/news/2014-04-29/quote-day-larry-summers-elizabeth-warren-insiders-dont-criticize-other-insidersThe emperor is wearing no clothes!!! And he's armed and dangerous to you and I. Was that mean to say? Perhaps those with gentle sensibilities and heads firmly in the sand would say yes. I say the emperor needs to be told he's going full retard. Quit being a coward, Beef. My moms mom said the earth was flat. She was wrong. Actions speak louder than words. And what have you done, o courageous one, to shed your shackles? |
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murraypaul
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May 01, 2014, 02:00:55 PM |
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Dos attacks are illegal in many places. They still happen.
From a libertarian view, no. It would maybe prevent some individuals, but to what extent?
A 51% "attack" is not a Dos attack. It's only hitting a coin with tons of hashing power. Nothing illegal about it. A DDOS attack is just hitting a server with tons of network connections. Nothing illegal about it? |
BTC: 16TgAGdiTSsTWSsBDphebNJCFr1NT78xFW
SRC: scefi1XMhq91n3oF5FrE3HqddVvvCZP9KB
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DeboraMeeks
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May 01, 2014, 02:03:51 PM |
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IT CANT BE MADE ILLEGAL.. I dont think so
Only mining equipment supressed etc.
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LostDutchman
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May 01, 2014, 03:15:51 PM |
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Dos attacks are illegal in many places. They still happen.
From a libertarian view, no. It would maybe prevent some individuals, but to what extent?
A 51% "attack" is not a Dos attack. It's only hitting a coin with tons of hashing power. Nothing illegal about it. A DDOS attack is just hitting a server with tons of network connections. Nothing illegal about it? Not the same thing at all. My $.02.  |
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MegaHustlr
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May 01, 2014, 04:06:24 PM |
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Do you want Governments to make 51% attacks illegal?
Is a 51% attack something that clearly violates the non-aggression principle?
I think the Libertarian answer = No = People are free to try, but we can attempt to discourage them.
What are your thoughts?
EDIT:
This was placed in the Bitcoin section, but the topic also applies to "local crypto terrorists" who launch attacks against alt coins and then brag about it in the forum. If they could be easily caught, should they face criminal charges?
Its a very silly idea that wouldnt be effective in RL with governements not having necessary laws to arrest a altcoin murderer... |
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Lamigo
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May 01, 2014, 07:07:09 PM |
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quick answer "NO", however it wouldn't surprise me as many governments will want their share of tax from crypto currency.
They can tax you when you trade bitcoin with fiat, but I don't think they can tax you in btc tx. |
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spazzdla
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Merit: 1000
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May 01, 2014, 07:10:54 PM |
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When BTC requires the help of the GOV you will know it has failed.
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keithers
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Merit: 1001
This is the land of wolves now & you're not a wolf
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May 01, 2014, 07:17:26 PM |
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Not really. The more involvement the government has in crypto, the worse and worse it will eventually become. At the end of the day all they care about is collecting tax revenues, so I am sure they would be charging the public a hefty sum of money "to prevent 51% attacks"
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greenlion
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May 01, 2014, 07:54:56 PM |
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Is this sudden interest in the 51% attack inspired by James D'Angelo's recent 2-part sensationalist video series, where he doesn't actually really understand what a 51% is and thinks everything is "selfish mining"?
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Dimelord
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May 01, 2014, 07:56:30 PM |
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Do you want Governments to make 51% attacks illegal?
Is a 51% attack something that clearly violates the non-aggression principle?
I think the Libertarian answer = No = People are free to try, but we can attempt to discourage them.
What are your thoughts?
EDIT:
This was placed in the Bitcoin section, but the topic also applies to "local crypto terrorists" who launch attacks against alt coins and then brag about it in the forum. If they could be easily caught, should they face criminal charges?
I dont want the government involved with Bitcoin any more than they already are. |
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