Topic: How easy it is to KILL bitcoin. - page 5. (Read 12220 times)

Strangling network connections is how I paraphrased the OP.  I don't think it makes sense either, except maybe for certain regimes.

If governments saw bitcoin as a threat, they might simply outlaw bitcoin or make the legal burden of exchanging bitcoin burdensome. It would be so much easier for governments to do, stifling acceptance and yet without being authoritarian.

Actually, my point is - wtf is the OP's point?

Strangling network connections isn't practical in my view. Moreover, taking btc underground will only reduce internet traffic to btc.

As bitcoin is an internet currency, it can be shutdown, when you shut down the internet.

If you want to know how the internet can be shut down. You have to learn, not imagine. The wisdom is not in us. Drugs will not make you wiser, man.

Nice way to put your head in the sand. Just ignore information even from the official bitcoin site and make up some
stuff instead.

Gov switches off the internet? Hmmmm OK

Yes it can, but the main chain won't accept these blocks because they have lower difficulty.

You could do the same after every coin is mined - provided that you beat the rest of the network to it.

When it comes to killing bitcoin, the easiest way would be to go the Australian method. Put a 10% tax on bitcoin purchases because it's not a currency but goods. Or the NYC way by requiring a ton of paperwork to open a business in bitcoin.
Either way, the hassle and cost outweight any benefits

A more technical way would be to build a massive hashing facility with taxpayer money and generate 50% of the hashrate. I don't think you even need to go that far. If they get enough blocks to make mining non profitable for the guys who actually have to pay for electricity and hardware, they will drive them out of the business. Thus securing even a bigger share of the global hashing power.

I don't understand the intent of this discussion.

Sure, it's possible to "kill bitcoin" by strangling network connections. You can also attack piracy and kill p2p by fundamentally changing how networks work. Does this seem plausible?

It's probably possible and much easier to move bitcoin to a seedy, underground marketplace by outlawing bitcoin, putting the squeeze on exchanges, etc.

It would actually cost something closer to ~8 billion, but this would assume that the price would not rise in the process of this one person buying up all the bitcoin. Also the fact that additional BTC is being created via the block reward roughly every 10 minutes makes it essentially impossible to buy up all the bitcoin.

I never click external links, I just like reading n writing my friend..

Imagine.. Gov switches off net. All sats.. all communication.. start agin time.. with a new network.. since the old blockchain is dead, a new one would be created. So many currencies using generaly the same loop..

I mean a distributed wifi network can exist away from this internet and with it's own blockchain. all it would take is one machine on one network to add the hash to the other.. dont be telling me this cannot be achieved..

It's simply a question of timing.

This can of course, only be done as long as mining is 'in progress', once the 21 coins are created, then it's script kiddie time lol

Its plain impossible to kill BTC.

I just know it's not possible or at least not easy to kill bitcoin.Even if  it's killed I am making sure I won't be bankrupted as the toll of money I spend on bitcoin is never ever anything more than that I could afford to loose.

not everyoe is selling his bitcoin, whales also are holding, unless they are idiot who want to dump at current price which was pumped by themselves

And who said that all the Bitcoins already generated are being sold by everyone?
"The government" can't even know who are all the people that has any amount of Bitcoins.

Couldn't someone wealthy enough just buy out all the Bitcoins owned at the moment? it would be something like 2+ billion but the government certainly owns that amount and would probably be willing to destroy Bitcoin.

But the coins on your new chain won't be compatable with the real ones on the main chain. Also, once your internal chain connects to a genuine bitcoin node it will be overwritten. This is because the the chain with the longest highest difficulty wins.

It's time you read it there (https://en.bitcoin.it/wiki/Block_chain) first.

i read about 40% and 30% attack, at 2-3 confirmations , but i'm not sure how strong they are

Ps, I aint interested in destroying bitcoin, just wanted to know of other 'hack's' excluding the 51% hard fork, which I read of years ago before it happened.. So dont think I'm a naysayer etc.. Just curious..

Actually, this only requires at least one ISP in ANY country on ANY landmass to work, since the rest, being an integral part of the web, will probably go through said ISP one way or another.. In this department, I'd suggest reading up on deep packet inspection, which is how this IS done right now.. by 98% of ISP's.

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Possibly I'm a noob, but at what exactly? I guess no-one understands that bitcoin can be used in an internal network, kinda like a wrk's payment/club card scenario. Run as an internal networked application, creating an internal blockchain, see, this is how I would in fact get started, adding it to the external blockchain would be my problem right there.. thats just to start with. Who cares if the experts say different, I did'nt become a pen tester to agree with things that appear to be unchangable. I am here to destroy, then rebuild.. for only then will I learn not to destroy.

Been to Ediinburgh anyone? Bank Hotel, Royal Mile.. sitting arguing till I was blue in the face with two software dev's claiming that I could indeed take a legally activated broadband modem to ANY house and it will work. They denied this.

Please notice your quotes dude, they are incorrect, I did not say what you are quoting.. another misleader..

So as I see it, bitcoin does nothing BUT hash checks. Each block it hashes is stored in the blockchain.

So all we would need to do is simulate those hashes in an internal network, then use one of those pc's to BUY using external scource, ie, the shop., placing hashes found on an internal network to the external blockchain, which of course, knows nothing of the internal network, and dont care, since the hashes created by the internal network were confirmed by other pc's on the internal network which were just as 'legal' as the external.. Just another theory

Edit: You read it here first lol..

Bitcoin isn't easy to kill, considering the amount of money transacted everyday and the volume of btc circulating in market..that's a ton ..

Maybe he works in a dildo factory. Testing department.

Do you get a lot of work as a penetration tester?