Topic: Classification of possible attacks on Bitcoin (Read 438 times)
Only attacks that I can see are already happening now, which included the legal attacks through regulation of Bitcoin by governments and such. and bitcoin many big cryptocurrency. world is very popular And it's a lot expencive and Attack on bitcoin Bitcoin wants to take emergency information.
This is an interesting table as it shows all of the possibilities from every possible angle. Still, I wouldn't give it too much thought because although there are some vulerabilities, I think that the general public will be on the side of bitcoin by the time they could be fully developed. What I mean is that the public has already been fed up with the central banks and arbitrary control of their money for a long time, and they are just looking for a (reliable) way to get out of that insecurity and manipulation.
Whether bitcoin can fill this gap is still a bit unsure. I think a good thing for us as a community to focus on is how to use bitcoin in a productive way and make it stronger so more people will begin to trust it.
Whether bitcoin can fill this gap is still a bit unsure. I think a good thing for us as a community to focus on is how to use bitcoin in a productive way and make it stronger so more people will begin to trust it.
I think that the most dangerous attack in the upcoming years may be due to cyber attacks by using Quantum computers.It is said that quantum computers would be able to read the private keys of a bitcoin wallet with the public key itself.If that happens,then it would have a devastating effect over the bitcoin network.Its said that core developers are working from now itself to fix that issue.
Direct attacks on bitcoins will be very difficult because of their robustness and security. The attack is aimed only at e-wallets of investors or those who do not secure their assets. So they will attack and take away all your electronic money. Know how to protect your property so that you do not have to face unfortunate risks.
bitcoin many big cryptocurrency. world is very popular And it's a lot expencive and Attack on bitcoin Bitcoin wants to take emergency information
The EU has launched a new attack on Bitcoin, which is the direct result of a ... could never form a coherent plan to stop Bitcoin, even if it were possible to create one.
You have published a quite interesting table of possible dangers. However, the demise of Bitcoin will probably come by a totally different sort of attack. For example, Bitcoin could be destroyed just by the emerging of a much better cryptocurrency which would take its echological niche. To make an example, if Facebook, Google and Amazon would do their own cryptocurrency tomorrow, in a few years they could well wipe out cryptos as we know it, as mass adoption is all for them.
I think that the most dangerous attack in the upcoming years may be due to cyber attacks by using Quantum computers.It is said that quantum computers would be able to read the private keys of a bitcoin wallet with the public key itself.If that happens,then it would have a devastating effect over the bitcoin network.Its said that core developers are working from now itself to fix that issue.
I do not believe that very soon there will be quantum computers. In addition, if such technologies will appear they will appear from all sides and chances are balanced. It seems to me that a much greater effect can be actions of banks and governments aimed at the destruction of bitcoin.Speaking of banks and the government, I saw a thread earlier discussing about France's implementation of strict rules and regulations against cryptocurrencies. The prime minister told the central bank to issue some prohibitions, which relates to bitcoin being a gateway towards money laundering, tax avoidance and illegal transactions. The table summarized and showed the implications that may happen in the near future and currently, the government of some countries are slowly attacking it.
The first to options from legal attacks are the most possible things to happen. Governments can anytime take action and do something to bann bitcoin.by simply creating a law and forbidding the use of bitcoin in a country. It seems very hard to do but we do have to take in consideration the possibility.
The option with hackers stealing a massive number of private keys would also be possible because the industry of bitcoin works with millions of dollars.
The option with hackers stealing a massive number of private keys would also be possible because the industry of bitcoin works with millions of dollars.
Personally, I believe that implementing laws and imposing tax on cryptocurrencies are the simplest form of control over it. But be reminded that while some countries are beginning to be tough on regulations, there are also some countries that are lenient towards cryptocurrencies and does not consider it as a 'threat' (like Singapore, Japan, Philippines, etc.).
The recent BPASE conference at Stanford started with a talk on how to destroy bitcoin. Very interesting stuff and overlaps with the table above. Link to reddit post with the recording of the talk: https://www.reddit.com/r/Bitcoin/comments/7uzm6o/game_theory_and_network_attacks_how_to_destroy/
Twitter account of the speaker: https://twitter.com/MaxFangX
Lecture Outline
Selfish Mining
Stubborn Mining Model
Selfish Mining Defense
Game-Theory Based Censorship
51% Attacks and Collusions
Twitter account of the speaker: https://twitter.com/MaxFangX
Lecture Outline
Selfish Mining
Stubborn Mining Model
Selfish Mining Defense
Game-Theory Based Censorship
51% Attacks and Collusions
The first to options from legal attacks are the most possible things to happen. Governments can anytime take action and do something to bann bitcoin.by simply creating a law and forbidding the use of bitcoin in a country. It seems very hard to do but we do have to take in consideration the possibility.
The option with hackers stealing a massive number of private keys would also be possible because the industry of bitcoin works with millions of dollars.
The option with hackers stealing a massive number of private keys would also be possible because the industry of bitcoin works with millions of dollars.
I don't know about that 10 years or even 5 really, some of the projects emerging that I have been working with put that timeline at under 2 years. Are there any considerations for optical miners that anyone is aware of currently?
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I think that the most dangerous attack in the upcoming years may be due to cyber attacks by using Quantum computers.It is said that quantum computers would be able to read the private keys of a bitcoin wallet with the public key itself.If that happens,then it would have a devastating effect over the bitcoin network.Its said that core developers are working from now itself to fix that issue.
I do not believe that very soon there will be quantum computers. In addition, if such technologies will appear they will appear from all sides and chances are balanced. It seems to me that a much greater effect can be actions of banks and governments aimed at the destruction of bitcoin.Agree, wont be anytime in the next two decades. But after twenty years....maybe?
sr. member
Activity: 378
Merit: 278
Bitcoin :open immutable decentralized global fair
This is excellent - thank you for sharing.
I think that the most dangerous attack in the upcoming years may be due to cyber attacks by using Quantum computers.It is said that quantum computers would be able to read the private keys of a bitcoin wallet with the public key itself.If that happens,then it would have a devastating effect over the bitcoin network.Its said that core developers are working from now itself to fix that issue.
I do not believe that very soon there will be quantum computers. In addition, if such technologies will appear they will appear from all sides and chances are balanced. It seems to me that a much greater effect can be actions of banks and governments aimed at the destruction of bitcoin. 
The Classification of Bitcoin attacks are long though. Well, Bitcoin Developers will not stop to at least put a patch to Bitcoin's flaw. One of the famous attack which can be found anywhere , mainstream media, here on the BCT forum and other forums as well is the PR attacks which always give BTC a bad name. PR attacks can be the most easiest, cost-less form of attack, Big Companies and well-known personalities usually executes it and they can easily manipulate the price.
Lol, I was thinking the same thing– classification of attacks was really long. But, mehn… all these attacks at a time? In the next ten years? What the…the number one under the category of attacks to slow down Bitcoin adoption– ban of bitcoin by small countries– that one is already happening right now, there are few small countries that banned bitcoin, and some are still about to. But that one won’t much effect on bitcoin. 
The table is quite impressive..
Though, unless I am mistaken, these are just possible scenarii, but without any "real" test, right? I do not suggest we should kill a developper to see the overcome of his/her death but still, for some scenarii, without any concrete application, I think we cannot measure in a realistic manner the impact such attacks may have...
Though, unless I am mistaken, these are just possible scenarii, but without any "real" test, right? I do not suggest we should kill a developper to see the overcome of his/her death but still, for some scenarii, without any concrete application, I think we cannot measure in a realistic manner the impact such attacks may have...
I think that the most dangerous attack in the upcoming years may be due to cyber attacks by using Quantum computers.It is said that quantum computers would be able to read the private keys of a bitcoin wallet with the public key itself.If that happens,then it would have a devastating effect over the bitcoin network.Its said that core developers are working from now itself to fix that issue.
All this attacks are sure to come for project like bitcoin. I will say the most potent of all the attacks illustrated is the one from within and that is the one from both forks and the spamming attacks. Someone who is not techy savvy will not know how to spam the network to make things difficult neither will he be able to ensure there is a forked version of bitcoin. Its when all this inner fork are successful, before the one coming from external factors starting to take prominence such as the legal attack and every other attacks that want to come its way.
Well, it is a great list actually, but there are some points which i think are not correct, like a ban from major powers like US, China etc will bring a medium damage and i think it is not like that. The damage will probably be very high if even one of them put a ban on Bitcoin in coming years. Recently, when China only shut down exchanges, the effect we saw was quite noticeable, so if the country totally bans bitcoin then i wonder what the effect would be on the community and the price of bitcoin.
Actually as stated by someone else already, some of these attacks are already happening around, like PR attacks. People put fake news about bitcoin to make people panic, and sometimes known personalities try to manipulate the minds of people by saying negative words about it. So we are already in the process of attacks, and hopefully they will get reduced with the time instead of increasing.
Actually as stated by someone else already, some of these attacks are already happening around, like PR attacks. People put fake news about bitcoin to make people panic, and sometimes known personalities try to manipulate the minds of people by saying negative words about it. So we are already in the process of attacks, and hopefully they will get reduced with the time instead of increasing.
interesting
very interesting article and makes for interesting and concerning reading.
We can be confident enough that the developers are moving to secure
the network at the same advancement as possible threats, hopefully
staying one step ahead.
Something which isnt on that list is the threat from "quantum Computers"
is this a possibility for the future where a super computer can attack the
blockchain itself?
https://www.technologyreview.com/s/609408/quantum-computers-pose-imminent-threat-to-bitcoin-security/
We can be confident enough that the developers are moving to secure
the network at the same advancement as possible threats, hopefully
staying one step ahead.
Something which isnt on that list is the threat from "quantum Computers"
is this a possibility for the future where a super computer can attack the
blockchain itself?
https://www.technologyreview.com/s/609408/quantum-computers-pose-imminent-threat-to-bitcoin-security/
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