Here’s How I Would Bring Down Bitcoin

shorena

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Quote from: CiaraB on April 04, 2016, 02:47:14 PM

This is all so new to me, it seems quite bonkers. If the government or whoever are trying to undo bitcoin could they not just buy a big load of it and manipulate it that way, or buy a load of mining machines and use the 51% thing.

Surely the government could do that if they wanted? Undecided

Holding a large amount of bitcoin can only manipulate the price. Mainly upwards, as buying more coins would drive up the demand. I dont see how this could harm bitcoin. A 51% attack could certainly do harm to bitcoin, but it would require the attacker to meet the investment of everyone else on earth.

CiaraB

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This is all so new to me, it seems quite bonkers. If the government or whoever are trying to undo bitcoin could they not just buy a big load of it and manipulate it that way, or buy a load of mining machines and use the 51% thing.

Surely the government could do that if they wanted? Undecided

btcusury

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Quote from: Lauda on April 03, 2016, 03:16:19 AM

Quote from: btcusury on March 30, 2016, 10:58:38 AM

Hmm, well, yes, but maybe the term "vulnerable" is better than "flawed" then.

The exact term used in this case does not matter as long as the message gets through. Humanity is slowly going downhill.

Going downhill in what way?

n0ne

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Quote from: Blackmet on March 30, 2016, 11:55:28 AM

I don't really imagine how bitcoin can be stoped, lol. I don't belive on it but if it will happen i will be so upset Cry

Agreed as quoted bitcoin won't be stopped that easy. It has achieved great height in a very short time, so it continues to grow than moving towards the fall.

Lauda

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Quote from: btcusury on March 30, 2016, 10:58:38 AM

Hmm, well, yes, but maybe the term "vulnerable" is better than "flawed" then.

The exact term used in this case does not matter as long as the message gets through. Humanity is slowly going downhill.

Quote from: Blackmet on March 30, 2016, 11:55:28 AM

I don't really imagine how bitcoin can be stoped, lol.

How about you actually read the whole post linked in the OP? Then you might understand.

Update:

Quote from: btcusury on April 04, 2016, 05:06:51 AM

Going downhill in what way?

The specifics might be suited better for another thread.

Blackmet

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I don't really imagine how bitcoin can be stoped, lol. I don't belive on it but if it will happen i will be so upset Cry

btcusury

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Quote from: Lauda on March 21, 2016, 05:06:36 PM

Quote from: btcusury on March 21, 2016, 10:44:28 AM

Indeed, people organically spread the meme ("urgent max block size increase required or Bitcoin will stagnate and possibly die") as misinformation, but its origins are probably as disinformation. It's not so much that "humans are flawed", it's more that propaganda and mind control and perception management techniques have gotten quite advanced.

Regardless, they are still flawed. The first thing that one tries to exploit (e.g.) when hacking is the human. Similarly, Bitcoin can't be broken by mathematics nor technology (as of today), and thus the logical step would be to try to exploit the humans.

Hmm, well, yes, but maybe the term "vulnerable" is better than "flawed" then. I mean, it's not realistic to hold mathematics as the standard for human flawlessness! Wink

[bump]

Lauda

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Quote from: Genius Einstein on March 21, 2016, 11:57:32 PM

Wow, what a great article. everybody who does bitcoin should be able to read this. Really good article about bitcoin. Great stuff

Unfortunately there are some who keep trying to deny or ignore this.

Quote from: richmcrich on March 22, 2016, 03:56:30 AM

I think bitcoin can be brought down if there is a system working better than it and covers the same needs, Something like a crypto but more useful and gaining the trust of the users, I don't think that is happening though.

What makes you think that Bitcoin can't incorporate these features? The only way that it could be possible is that this 'something else' is either closed source or fundamentally different than Bitcoin in design. However, this isn't really relevant to the post.

richmcrich

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I think bitcoin can be brought down if there is a system working better than it and covers the same needs, Something like a crypto but more useful and gaining the trust of the users, I don't think that is happening though.

Genius Einstein

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Wow, what a great article. everybody who does bitcoin should be able to read this. Really good article about bitcoin. Great stuff

Lauda

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Quote from: btcusury on March 21, 2016, 10:44:28 AM

Indeed, people organically spread the meme ("urgent max block size increase required or Bitcoin will stagnate and possibly die") as misinformation, but its origins are probably as disinformation. It's not so much that "humans are flawed", it's more that propaganda and mind control and perception management techniques have gotten quite advanced.

Regardless, they are still flawed. The first thing that one tries to exploit (e.g.) when hacking is the human. Similarly, Bitcoin can't be broken by mathematics nor technology (as of today), and thus the logical step would be to try to exploit the humans.

Quote from: SanaButt on March 21, 2016, 10:50:21 AM

No matter what everyone says, Bitcoins cannot be brought down. It is liked by many peoples as it is easily and readily tavailable.

That is overly-optimistic at best.

Quote from: SanaButt on March 21, 2016, 10:50:21 AM

The current price of Bitcoins also suggests that it is growing in a positive directions.

This is not related.

SanaButt

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No matter what everyone says, Bitcoins cannot be brought down. It is liked by many peoples as it is easily and readily tavailable.
The current price of Bitcoins also suggests that it is growing in a positive directions.

btcusury

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Quote from: Lauda on March 15, 2016, 08:50:47 AM

Quote from: AliceWonderMiscreations on March 14, 2016, 06:08:10 PM

Bitcoin has a decentralized flow of money, it brings that power back to the people where it belongs.
This is a threat to the economic elite. At first they did not recognize that threat, but now that it is clear Bitcoin is real, they recognize the threat is real. They can't take it down directly, but what they can do is attempt to seize control of the network. And that is what I believe they are trying to do, using the very social engineering tactics quoted in your original post.

The worst part of this is that genuine people are being manipulated by the campaign and they're indirectly joining it. This does make a lot of sense if you consider:
1) Bitcoin "has many enemies".
2) Bitcoin can't be damaged otherwise (no known exploits).
2) Humans are flawed.

Indeed, people organically spread the meme ("urgent max block size increase required or Bitcoin will stagnate and possibly die") as misinformation, but its origins are probably as disinformation. It's not so much that "humans are flawed", it's more that propaganda and mind control and perception management techniques have gotten quite advanced.

Lauda

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Quote from: Hamuki on March 14, 2016, 05:12:12 PM

The easiest answer: who is their target? By knowing the target you know the attacker. I have some clues, do you?

That question does not make sense as it is labeled in the title "bring down Bitcoin".

Quote from: AliceWonderMiscreations on March 14, 2016, 06:08:10 PM

Bitcoin has a decentralized flow of money, it brings that power back to the people where it belongs.
This is a threat to the economic elite. At first they did not recognize that threat, but now that it is clear Bitcoin is real, they recognize the threat is real. They can't take it down directly, but what they can do is attempt to seize control of the network. And that is what I believe they are trying to do, using the very social engineering tactics quoted in your original post.

The worst part of this is that genuine people are being manipulated by the campaign and they're indirectly joining it. This does make a lot of sense if you consider:
1) Bitcoin "has many enemies".
2) Bitcoin can't be damaged otherwise (no known exploits).
3) Humans are flawed.

AliceWonderMiscreations

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Quote from: Lauda on February 22, 2016, 02:50:49 PM

Anyone with experience in extended, unconventional conflict should be able to recognize current patterns in the Bitcoin and digital currency space that resemble subversive activity.
Is a game of social engineering being leveled at the Bitcoin community? Based on open source information alone, it’s conceivable that certain individuals or teams are trying to demoralize and disrupt the Bitcoin ecosystem.
Full article can be found here.

Does any of this seem familiar?

Thank you for posting that.

This is exactly what I see happening.

At least since the great depression, and possibly longer in other countries, there has been an economic elite that controls the flow of money. That control over the flow of money gives them an incredible amount of power.

Bitcoin has a decentralized flow of money, it brings that power back to the people where it belongs.

This is a threat to the economic elite. At first they did not recognize that threat, but now that it is clear Bitcoin is real, they recognize the threat is real. They can't take it down directly, but what they can do is attempt to seize control of the network.

And that is what I believe they are trying to do, using the very social engineering tactics quoted in your original post.

Hamuki

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Quote from: Lauda on February 22, 2016, 03:47:00 PM

What I'm only uncertain of currently is, who's exactly behind the campaign.

The easiest answer: who is their target? By knowing the target you know the attacker. I have some clues, do you?

I'm pretty sure, tho, the real who-vs-who is actually at higher level than those...

Lauda

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Quote from: watashi-kokoto on March 12, 2016, 01:55:04 PM

We're gonna see this year if there's someone of there trying to stop Bitcoin in it's tracks. But the Classic thing is pretty lame attempt to be honest.

Well, I would not mind it that much if:
1) The consensus threshold was adequate.
2) Grace period was adequate.
3) The team of developers was comparable to the current one(currently it is similar to Barcelona vs. some High School soccer team).

Another fine example was the recent attack on the network that caused delays for people who were using wallets that were either outdated or had bad fee settings. They've tried to create a sense of false urgency.

watashi-kokoto

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We're gonna see this year if there's someone out there trying to stop Bitcoin in it's tracks. But the Classic thing is pretty lame attempt to be honest.

Lauda

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Quote from: btcusury on February 25, 2016, 08:42:29 AM

The github code repository... If the Classic hardfork were to succeed (not that that's gonna happen), Gavin/Toomin would have the greatest access to the proverbial "steering wheel".

Exactly. However, some of the 'forkers' tend to try and divert attention from this and statements that there is 'no control'. Someone is in control of the main repository though. Neither Gavin nor Toomin deserve to take up that position in any way.

Quote from: RodeoX on February 24, 2016, 04:18:49 PM

Gavin has no more authority than you do.

I think what he meant was influence. Gavin has a decent amount of that (some are even blindly following Classic just because of him). However, I don't think that this is the right thread to discuss this.

btcusury

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The github code repository... If the Classic hardfork were to succeed (not that that's gonna happen), Gavin/Toomin would have the greatest access to the proverbial "steering wheel".

The problem with the idea of 'creat[ing] a competing chain that becomes the "real" bitcoin' is that it would quite probably have a devastating effect on fungibility and thus trust in the system... thus "diverting the project toward a state of increased vulnerability/uncertainty". The altcoins and crypto 2.0 projects are competition... these attempted hardforks are subversion.

It's all about managing perception; they understand that it's decentralized and thus can't be controlled.

Topic: Here’s How I Would Bring Down Bitcoin (Read 3504 times)