Topic: [ATTN!!] Bitcoin Security nearly Breached (Read 6751 times)

Well if this is your scenario then why wouldn't they just decide to make the reward 10k per block as of today? Yes they could fork the chain but those blocks would not get accepted by the rest of the bitcoinDs. So you mine BTC' that will not comply to BTC. Guess that's a stupid plan. Exchanges and honest users would not accept those.

Better they start a new chain then ...

Worse than that: there was a discussion regarding the major pools forming a cartel to collude against the rest of the network...

If you think Tycho, Slush and the like are of such pristine moral fiber that they would never "muck around" with that to satisfy their unlimited personal greed, i have a forest of Bitcoin trees near Moscow to sell you... 

A number of issues I've encountered on other pools, just kept pushing me back to deepbit. For some reason Deepbit just works (except during a Ddos). Other pools need to get their act together and compete better.


I'd think so too, at least regarding all the mucking around that has been mentioned in this thread, double spending etc... no-one in their right mind is going to risk a $50,000 per month income that's still growing to rip people off once with some double spending or sh*t like that.

No, it seems to me the risk is in the pool doing something that will benefit itself AND its miners and being able to pull that off alone. The most obvious thing would be to increase (let's say double) the mining reward (or refuse to lower it to 25 BTC by the end of next year). Not only would that double the pool owner's income (in BTC terms), it would also double what the miners earn, and would more likely attract more miners.

If other pools didn't follow suit, they'd find all their blocks invalidated and end up earning nothing. Pressure to follow such a move would therefor be enormous.

This would all be at the expense of those holding BTC, in exactly the same fashion as a central bank that prints more money.

The only miners opposed to such a change would be those already holding lots of BTC.

Or have I overlooked something that makes this scenario impossible?

So there is/was a discussion if deepbit allows botnets ? Or was this the first time anyone mentioned this idea.

Very interesting, I need to look more into this. 

If you do some research regarding my registration date, you'll see that you are the new one here... 

I was already here before there was such a thing as Deepbit or Tycho, even Slush wasn't open yet, and i could mine with a 5450... 

So, there is little point in my reading the history that i watched happen real-time... 

It was already clear then that the exceptionally greedy farmers, such as ArtForz, were about to force everyone else to pool, which would create vulnerable centers in the "totally decentralized Bitcoin" still being falsely advertised today... 

Then, there would be greedy pool operators, such as Tycho. In a few years, they will consolidate, and become the central bankers of Bitcoin, if it survives that long. 

Then, we'll be back to the same thing we have today with fiat bankers - a few influential central bankers of Bitcoin dictating to the rest of us how much share of the market they will have, and how much in fees we'll have to pay them...

How great that revolutionary new system will be!  Then, i will also not care if "Bitcoin fails"...

There's another way to get big, and that is by providing a great service and making your customers very happy. Since you're new here, you should look at Deepbit's history; this is mostly what Deepbit has done.

I don't know what "Deepbit's plantation helpers" means.

As for me, I stopped mining at Deepbit after he gave an answer I didn't like about having 50% of the network. Maybe I'll start again after he has less percentage of the network. Maybe I won't.

You have a right to your delusions, just as i have a right to mine...   

It's purely a hypothesis, but he'll follow it with plenty of accusations. Love it.

Let's See:
Security Troll: Check
Paranoid/Conspiracy Troll: Double Check

It's not an accusation; it's a simple hypothesis, given the way some of the biggest business is traditionally done in Russia.

Since Deepbit's terms and technology can be duplicated by any other pool, its persistently incongruous size is suspicious. It will be useful when someone with credible skills and network position figures out the botnet share of that. Deepbit plantation helpers are not a credible source of such info to me... 

What is pretty clear to me is that an entity or a group that doesn't have the ethics or greed limit to stop itself from grabbing 40-50% of the worldwide supply of something, would not be above tolerating a friendly botnet to help it continue to do so...

Come on man, that's not fair to the newbies! They need to be put in isolation. Maybe time to institue the mod that blocks trolls from posting in threads but still shows their posts in the threads. After 2 or 3 usernames they might get bored and go away or actually become contributory to the forums.

Not just threads started, filter any posts at all by a user configured post number.

How do we send people back to the newbie board? Posting this kind of repetitive alarmist BS should be automatic timeout to the newbie board for a month.

And when will SMF give filtering options so that you can hide all threads not started by 'x' level poster...

And you're interested in Bitcoin to what, buy rainbows and gumdrops for all the third world children?

So you are not going to retract your accusation regarding Deepbit accepting botnets?

My point was that, as we have seen before, one person's parasite botnet is another person's "business partner."  

Even IF it turns out that Deepbit doesn't have such "business partners", it's unethical for Deepbit and its workers to take even close to 50%.

That makes a joke of the already obvious fairytale of "decentralized Bitcoin," in which the system can be disrupted by attacking or subverting just one mining pool...  

What also then becomes obvious is that - just as it is for the Wall-Street bankers - for Deepbit and its workers it's not really about the health of the monetary system as a whole. "It's all about me and getting mine"...

In the immortal words of one proud miner:

That makes all of the Bitcoin ground pretty damn shaky...

nah, this:
http://www.bitcoinwatch.com/

the cool little pie chart, g.i.t.s. looking thing.
earlier it was about 45%, then about 1/5th. unless the only reason they were in other making it so large was because they got kicked from the named pools, and they didn't have anywhere to go?

Try clicking on the image for your "proof." Until then, you are on very shaky ground.

Well, if something in the Deepbit interface is "proof" enough to you that Deepbit is blocking ALL the botnets, good for you!   

As i said, i'll wait until a more credible third party has some proof, which would obviously not be Deepbit or its workers. 

Some pretty shady "business" deals are made and unethical actions tolerated in the Bitcoin world. As in the rest of the criminal world, one botnet doesn't have the same friends, alliances and capabilities as every other... 

Thats a 'shopped' image there, homey G nugs...

did they setup their own pool?
other seems rather large, it was almost 45% earlier now it's about 1/5 of the total.

I wish you could comment the guy's statement who is accusing Deepbit outside of my comments. I just don't want to appear I was pointing a finger, which i was not.



And in response to the Russian post, I was under the impression this was a regular user who was blocked by the new security measures Deepbit imployed but he is a legitimate user. Maybe you can read Russian and saw differently?