Bitcoin Forum
October 17, 2019, 07:20:54 PM *
News: If you like a topic and you see an orange "bump" link, click it. More info.
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Strange block 74638  (Read 43217 times)
Taras
Legendary
*
Offline Offline

Activity: 1372
Merit: 1035


Please do not PM me loan requests!


View Profile WWW
July 24, 2014, 07:51:15 AM
 #21

I just looked at this thread before it was super-bumped...

Must be a sign, HL3 confirmed
1571340054
Hero Member
*
Offline Offline

Posts: 1571340054

View Profile Personal Message (Offline)

Ignore
1571340054
Reply with quote  #2

1571340054
Report to moderator
PLAY NOW
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1571340054
Hero Member
*
Offline Offline

Posts: 1571340054

View Profile Personal Message (Offline)

Ignore
1571340054
Reply with quote  #2

1571340054
Report to moderator
1571340054
Hero Member
*
Offline Offline

Posts: 1571340054

View Profile Personal Message (Offline)

Ignore
1571340054
Reply with quote  #2

1571340054
Report to moderator
1571340054
Hero Member
*
Offline Offline

Posts: 1571340054

View Profile Personal Message (Offline)

Ignore
1571340054
Reply with quote  #2

1571340054
Report to moderator
allyouracid
Legendary
*
Offline Offline

Activity: 1890
Merit: 1086


Encrypted Money, Baby!


View Profile
November 28, 2015, 01:36:50 PM
 #22

Hey guys,

first off: I'm very sorry to be a grave digger. But I have this (already solved) incident in my mind since I read about it, which was quite a while after it occurred.

Now, I thought about what would happen if the one who generated that transaction had malicious intents. Let's make a thought play:
Transaction was made and someone - let's call him Bob - now holds more than 184bn BTC in his wallet. Knowing the transaction will be detected soon, Bob is in a hurry.

He moves his coins over to an Altcoin exchange and sells whatever he can for Altcoins, crashing the price of e.g. Litecoin, DASH and what not else.

Now, Bob moves his fraudulently generated DASH, Litecoin etc. to his wallets. He has made one hell of a gain, waiting for things to calm, so he can sell his Altcoins back for Bitcoin.

Meanwhile, the incident was detected and five hours later, a "rollback" - the hardfork - was decided upon and done.

What happens now? The Altcoin exchange has some serious trouble: many, many users now have sold Litecoin and DASH for Bitcoins which don't exist, anymore. As the exchange isn't able to pay (let users withdraw their non existing BTC), but the Altcoins are already withdrawn by Bob, what would happen next?

Would that just be a "shit happens" situation, or would the Altcoins which are affected also be forced to do a hardfork?


Anyone who is interested in continuing this thought is welcome to do so! Smiley

Visit my shitcoin blog / become part of my filter bubble: OCOIN.DEV
How to not get scammed in cryptoland: https://ocoin.dev/en/blog/2019-09-08/why-research-on-cryptocurrencies-is-important // Interested in Mimblewimble, Beam / Grin? Visit mimblewimble.support
Use cointracking.info for tax declaration & tracking of your trades!
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!