Topic: Destruction of Bitcoin (Read 1203 times)

We are currently under attack........ we need to counter attack NOW.

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Just because people put their faith in something doesn't mean it will work or is viable. Billions believe in god but it doesn't make him real or a viable solution to anything. I think people are very wrong when they say bitcoin cannot be destroyed or whatever. Bitcoin can or could fade away into obscurity, especially if something better come along, though I don't think it will. I worry that bitcoin will always be kind of a niche thing for us geeks or believers and that's about it. Sure we'll be able to spend it at a handful of stores online and a couple in the real world, but as far as mainstream adoption I'm not so certain. Hope to be wrong, though.

There is no way to destroy or attack bitcoin.

The only way is to buy all bitcoins up and forget the password,
but that would be a expensive affair for a country. 

bitcoin must be on the watchlist of every government. i think they are just waiting for the right time to attack. Keeping illegal money as bitcoin is very easy, this might be one of the biggest reason for attack on bitcoin by govt.

That's why some other entity want to destroy it, simply because it is slowly changing the norms of the society. It serves as an eye-opener to what is really happening in our society, especially within the governments and banks. These two entities want full control over you and your assets, and bitcoin contradicts that, that's why the governments and banks wanted to destroy bitcoin.

Destruction of Bitcoin is not possible. Largely because it's the need of the hour to have a digital online trading. Bitcoin offers the purpose. Thousands of people have put their faith into bitcoin. It's the new mod currency. People might criticize it , but everything has its pros and cons. Let's look at the pros. They completely overshadow the loopholes of Bitcoin.

I'm not so sure. Seems like wishful thinking as much as I would like it to be true. No outside force will likely be able to take bitcoin down but the price fluctuations that happen based on seemingly nothing could be a problem. It's obviously not bad for anyone when the price goes up but it's down that everyone loses out especially casual bitcoin users. They have no real need or desire to get involved with bitcoin when it loses them money and as a currency this is not every good at all.

The only way they can "attack" bitcoin - is to implement a technology that delivers all 90% of the benefits of bitcoin that the average person might care about. ie - using it saves them money, and is as easy or easier than their existing solution
Do that and bitcoin and altcoins become a niche technology beloved by a small passionate usergroup - oh wait.

They can try to ban bit coin. They can try to regulate bitcoin. They can try to clone bitcoin, but they can never touch the fucking power of bitcoin because all of the fucking power is backed up by the supporters, their hopes, their dreams, their constant use of the bitcoin and the massive adoption of bitcoin which has already taken place in their lives. They cannot touch it, they can only shield their asses, but they know its going to end up fucking them in the ass

why they should when they can simply tax it to death? they are seeing bitcoin as a new fortune for them, a new tax heaven, they will let it grow to a higher level, only few country cannot accept this, maybe because there aren't many people using it

none will destroy the bitcoin besides the miner if they screw something, like they do some times

The thing that will allow bitcoin to succeed, in my opinion, is that the establishment is split between wanting to control (intelligence, security and the banking establishment) and to exploit a disruptive technology to make money (silicon valley, progressive finance companies) so all bitcoin has to do is appear less threatening to the first and more promising to the second and by the time they have finished fighting we will have taken over

If we're going into full blown what if mode, who is to say the CIA didn't show up at MtGox doorstep and say, hand us all the Bitcoin and tell everyone you blew it on cheeseburgers.

Living to fight another day is the point. Sure they won't destroy the concept, however, they can buy time and with time the future can look completely different.

The government's first goal is survival and Bitcoin is about to take them all down, victory isn't going to be just handed to us all.

En garde indeed

Bravo, agreed.


Stuxnet was a piece of code that dialed in to affect a very specific hardware, down to the serial #s, at the nuclear power plant. There was a very good documentary on this, but I can't find it right now. IMO this could not have been done unless they had someone on the inside. How would they attack miners or nodes when it's not an easy centralized target like the power plant?


I've thought about this as well. They could persuade the core devs with commit access, but I don't think they can persuade all the users as well. People could just stay and use an old version if bitcoin is changed to something that the users do not want. But they could sneak some changes in I suppose. They could technical ruin bitcoin, but wouldn't an altcoin just rise in it's place?


I say, Engarde!!

How will "they" attack Bitcoin? Bitcoin doesn't give a shit.

1. Bitcoin is on the cusp of becoming an asset that cannot be taken down. The next bubble will push bitcoin to such large market cap that nothing can stop it. So if there is any hope you could destroy it now is your last shot.
2. Governments should be threatened by Bitcoin, it can and likely will change everything about global finance. Certainly, the CIA and FBI have a vested interest in keeping Bitcoin at bay. I think it is actually foolish to think a government like the USA or China would not have every single bitcoin weakness outlined and be poised to attack at the right time. Hell, if a government can infiltrate firmware for nuclear power plants in Iran, they can attack bitcoin.
3. Technical weaknesses may not even be the attack vector. A well funded and thoughtful attack on the opposition would mean all weaknesses will be exploited. The best ones for Bitcoin are probably human. Governments are masters at social engineering people to do what they want (see the Democratic and Republican parties), certainly they can infiltrate Bitcoin devs and destroy it from within, or take some large miners and turn them into nothing more than spies and internal terrorists by simply paying them off.
4. Bitcoin is not really prepared for war, it has become a game of appeasement, not a fight to the death. Alt-coins have come and gone without even a chink in the btc armor. Bitcoiners are prideful; the blockchain and mining are indisputable winners in the battle for immortality. It is as if that battle has already been won. Nothing about Bitcoin development: mining, chat discussions, and general bitcoin chatter take war seriously at all. Bitcoin is weak because the only way to survive what is coming is maniacal focus on survival, which focus today simply does not exist.  

Sure this is crazy talk, but if you really believe Bitcoin is so disruptive don't you know that an attack MUST be coming?

I am saying no doubt about it, Bitcoin is vulnerable and about to be attacked on possibly many fronts, prepare to witness carnage.