How easy it is to KILL bitcoin.

[Mybitcoinz]

The "easiest" way to kill bitcoin is to do a 51% attack but no one exept ghash could do it.

[1715000514]

1715000514

[1715000514]

1715000514

[itsAj]

For example, Bitcoin addresses are not inherently linked with IP addresses (I think I dimly recall that was a little-used option at one time).

Bitcoin did allow sending coins to an IP address once. This has now been disabled because of the danger of man-in-the middle attacks with this type of transaction.

Bitcoin transactions carry no IP information, though I'm guessing the node that first broadcasts the transaction could be identified if the NSA controlled enough nodes.

If you don't want to transmit your transactions yourself, simply post your signed transaction in hexadecimal format here via tor, and they will broadcast it for you.

https://blockchain.info/pushtx

bitcoin TX do carry IP information. The IP address of the node that first relayed the TX is reported and is available on blockchain.info (and other block explorers as well). If you are using QT to transmit a TX (or another full node wallet) then it would be fairly easy to associate your IP address with a specific transaction (assuming you did not use TOR or another VPN). If you use blockchain.info or a wallet that does not act as a full node then your IP will generally be safe.

[Lauda]

The "easiest" way to kill bitcoin is to do a 51% attack but no one exept ghash could do it.

Well that's actually not true. They aren't the only ones who could do that. At least they have lowered their % of the hashrate.
But I do not see a reason for them to do an attack, they would only harm themselves this way.

[Decksperiment]

So then it occured to me..

Create a network of around 'x' amount of computers. Install bitcoin app and run as server.

Would this not create a 'new' blockchain, which can then be introduced into or OVER the origional one we currently use?

[QuestionAuthority]

So then it occured to me..

Create a network of around 'x' amount of computers. Install bitcoin app and run as server.

Would this not create a 'new' blockchain, which can then be introduced into or OVER the origional one we currently use?

Um, no. You need to read up a little more.

[lucaspm98]

If governments do find some way to intercept or block bitcoin transactions (why and how they would do this is another question), I'm am absolutely confident a workaround would be created quickly. If you think about it Bitcoin is already a way to get around government control by not dealing with their fiat.

Posted From bitcointalk.org Android App

[smoothie]

Regardless of whatever connection you make to the cloud, you still have to go through an ISP, get it?

You think the people who give us this computer hardware have'nt checked all possible combinations of key press's before even linux came out?

Wow..

And with the boxes in place, the laws are no longer required.. because governments are above their own laws.

Mysterious boxes lol.

Not every ISP will do this. Good luck seeing that implemented world wide.

[smoothie]

So then it occured to me..

Create a network of around 'x' amount of computers. Install bitcoin app and run as server.

Would this not create a 'new' blockchain, which can then be introduced into or OVER the origional one we currently use?

Um, no. You need to read up a little more.

LOL the OP is obviously a noob as he doesn't even know how the blockchain gets written and possibly overwritten.

"Just install bitcoin app and run as server and voila blockchain is overwritten"....lol

That one made my day right there...especially after his OP where he was so serious about his theory.

[Meuh6879]

The "easiest" way to kill bitcoin is to do a 51% attack but no one exept ghash could do it.

Like this ... ?


http://imageshack.com/a/img631/1293/cURXsc.jpg

[Buffer Overflow]

bitcoin TX do carry IP information. The IP address of the node that first relayed the TX is reported and is available on blockchain.info (and other block explorers as well).

These blockchain explorers only report the first node that relayed them the TX, it's just data they have generated themselves, not actually inside the TX. There's no way of knowing if that was the node that generated the TX. It may of been relayed from another previously.

[itsAj]

The "easiest" way to kill bitcoin is to do a 51% attack but no one exept ghash could do it.

Like this ... ?


http://imageshack.com/a/img631/1293/cURXsc.jpg

Pools with a large amount of hashrate will inevitability find several blocks within a short amount of time. This is nothing more then luck. Also one person/entity having 51%+ of the network hashrate alone will not destroy bitcoin, this person would also need to launch an attack on the network. If this person temporarily controls this much of the network but does not launch an attack then nothing will happen to bitcoin overall.

[Buffer Overflow]

So then it occured to me..

Create a network of around 'x' amount of computers. Install bitcoin app and run as server.

Would this not create a 'new' blockchain, which can then be introduced into or OVER the origional one we currently use?

No. This would infact help the bitcoin network, as you've increased number of distrubuted nodes.

All nodes are equal. These new nodes would have no more or no less authority than the thousands of others.

[Nathonas]

So then it occured to me..

Create a network of around 'x' amount of computers. Install bitcoin app and run as server.

Would this not create a 'new' blockchain, which can then be introduced into or OVER the origional one we currently use?

Lol. That's not the way it works. Users of the REAL blockchain would reject any outside / modified blockchain. That's the whole point. Bitcoin is not controlled by a small group of individuals, its controlled by the community of bitcoin users and developers.

A much more realistic threat is the government or Wall Street manipulating the market to make bitcoin crash in price.

[Meuh6879]

bitcoin is only controlled by mathematic strategies ... not by human.

[shawshankinmate37927]

A much more realistic threat is the government or Wall Street manipulating the market to make bitcoin crash in price.

Decentralized exchanges should eliminate that threat.

[Hasher99]

Bitcoin is unstoppable if we look at the amount of everyday transactions and volume of usd in form of BTC in circulation..Pretty tough.

[Kayex]

You'd have to do a 51% attack.
But who even owns 51%.
Only Ghash could do something like that.
.-.

[Buffer Overflow]

You can laugh now, but by the time this short post is finished you will realise the truth.. that bitcoin WILL fail

Can you give us a timeframe so I can make arrangements to dump my coins. LOL

[Ondago]

You seem to have a fundamental lack of understanding of how cryptography works.

[CoolBliss]

You can't kill it like that but if they really wanted to a government could easily cripple it by sending out transactions (with fess) in excess of the transaction limit.