Topic: Classification of possible attacks on Bitcoin - page 2. (Read 438 times)
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.
The questions that spring to mind.
Why should entities attack BTC?
.......Who would benefit from these attacks. 
What is their motivation?
My thoughts:
Bitcoin appeared at a time of crisis in the global financial system.
The 8 Page White Paper,and the pseudonym of the writer/s showed only a glimpse of the critical thinking that has gone into this disruptive paradigm shift in a whole range of disciplines starting with finance and the meaning of money.
The brightest minds have been attracted to the flame of change and massive innovation that is Bitcoin Core,for the good of the whole of humanity.
The enemy of this change are the attackers,whether directly or by proxy.
Open Source technology is anathema to the elites and oligarchs,who feed on power and control.
This is why The Hydra will always be looking for ways to suborn Bitcoin....The Battle will be neverending.
The Genie that is Bitcoin is never going back into the Bottle?
Yet remember:The story of Alladdin and his Lamp,The Genie was tricked and he did return to his prison.
How do you raise large amounts of capital to develope Bitcoin,without the strings of centralisation?
Our mission is to educate both ourselves and other likeminded people about this life changing Disruptor that is Bitcoin,and take responsibility for securing and becoming our own individual bank.
Conversation is education.......spread the Gospel,and creed that is Bitcoin.
PS:Have the 0.000001% already bought their holdings in Bitcoin?
Why should entities attack BTC?
.......Who would benefit from these attacks. What is their motivation?
My thoughts:
Bitcoin appeared at a time of crisis in the global financial system.
The 8 Page White Paper,and the pseudonym of the writer/s showed only a glimpse of the critical thinking that has gone into this disruptive paradigm shift in a whole range of disciplines starting with finance and the meaning of money.
The brightest minds have been attracted to the flame of change and massive innovation that is Bitcoin Core,for the good of the whole of humanity.
The enemy of this change are the attackers,whether directly or by proxy.
Open Source technology is anathema to the elites and oligarchs,who feed on power and control.
This is why The Hydra will always be looking for ways to suborn Bitcoin....The Battle will be neverending.
The Genie that is Bitcoin is never going back into the Bottle?
Yet remember:The story of Alladdin and his Lamp,The Genie was tricked and he did return to his prison.
How do you raise large amounts of capital to develope Bitcoin,without the strings of centralisation?
Our mission is to educate both ourselves and other likeminded people about this life changing Disruptor that is Bitcoin,and take responsibility for securing and becoming our own individual bank.
Conversation is education.......spread the Gospel,and creed that is Bitcoin.
PS:Have the 0.000001% already bought their holdings in Bitcoin?
Modern technology is inherently prone to various types of attacks. It almost seems to be by design. Since cryptos are using this infrastructure, they're also sharing the same weaknesses. Maybe future will bring better medium for blockchain than internet. We will see.
Only attacks that I can see are already happening now, which included the legal attacks through regulation of Bitcoin by governments and such. The other sort of attack I can see is like the thing that is happening now, which is the attacks by BCH and Roger Ver and friends to try to takeover the network.
These attacks are really the only ones which can happen. Other ones are unlikely, the public just has to be taught about Bitcoin and the rest will die out.
But I do appreciate the lists.
These attacks are really the only ones which can happen. Other ones are unlikely, the public just has to be taught about Bitcoin and the rest will die out.
But I do appreciate the lists.
Found this on Reddit, classification of possible attacks on Bitcoin, probability of them happening in the next 10 years, and the extent of damage these attacks could do. Bitcoin's antifragility has already been put to test through a few legal attacks/ban, numerous PR/social attacks/FUD/negative news, ongoing financial attacks/forks/state-sponsored cryptos, and hybrid attacks by malicious actors who for their own individual gains want to slowdown Bitcoin adoption/development by trying to manipulate a part of the community to support their forked altcoins.
Bitcoin does have its own share of weaknesses that could be exploited, be it spam attacks, 51% attack, Sybil attack, DoS attacks, and timejacking. There is a probability that some of these attacks might happen in the next ten years and the extent of damage would depend on the type of attack. Compared to technical/cyberattacks, I think the majority of attacks on Bitcoin in the next ten years would be legal, social, financial, and hybrid in nature.
https://www.reddit.com/r/Bitcoin/comments/7cht20/classification_of_attacks_on_bitcoin_oc/
Bitcoin does have its own share of weaknesses that could be exploited, be it spam attacks, 51% attack, Sybil attack, DoS attacks, and timejacking. There is a probability that some of these attacks might happen in the next ten years and the extent of damage would depend on the type of attack. Compared to technical/cyberattacks, I think the majority of attacks on Bitcoin in the next ten years would be legal, social, financial, and hybrid in nature.
https://www.reddit.com/r/Bitcoin/comments/7cht20/classification_of_attacks_on_bitcoin_oc/
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