Too many people not thinking it thorough clearly….
1. DDOS one of the major mining pool, forcing the clients to switch to other pools.
2. Take down the work servers for two other major pools and replace with your own tainted code work servers.
3. Use THIER clients to propagate your 51% attack…. (after all there is NO encrypted connection between a pool work server and its engine clients)
No need to 'pay' anyone or even get the compliance of the pool owners………….
all are feasible attacks…. DDos & DNS attack.
I just don't see why people think you have to spend millions on 'out hashing' the network when the current setup has key points that can be exploited.
Really these pools should implement some sort of public key exchange to prevent being replaced by compromised kit via a DNS attack.
RF
Topic: Now I see how ANY Government can EASILY KILL BTC (Read 2495 times)
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
I just learned about the 51% attack.
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
So if I owned a pool and the Feds paid me ten million bucks to shut down the pool,
And i agreed, so what? My pool is shut down, and miners would join another pool.
So, nothing was accomplished except breaking up a large pool temporarily.
Wow. You obviously don't understand a 51% attack either.
The gov pays 3 major pools so that they direct their hashrate to create a dishonest chain and make other honest miners' blocks to become orphaned.
I understand what a 51% is lol... Good point but still if they did that, that would pool would be dead, so it would be good for only a short time, the pools would disband and bitcoin would continue.
They wouldn't "disband", just that most of the miners would leave and the bribing would have been worthless.
What do you think?
I think you should stop making silly threads and spend more time reading.
You're a noob, we get it but atleast show your effort in learning. Being spoonfed is not gonna get you anywhere. You will however be mislead by hearsay.
Dont you think we would have had discussed these topics long time ago?
Noob? How old are you 12? Do you live and operate in the real world or just online? Are you stuck in the chair at the computer? do u know how life works?
Are you in the COOL clique for BTC? ooooo-- should I try to be your friend?
Get over yourself...seriously.
FOR AS LONG AS THERE IS BITCOIN - there will be new people coming in.
THIS FORUM IS FOR DISCUSSION -- stay OUT OF THE DISCUSSION if you already know everything and had every possible discussion.
I didn't ask if you had this discussion...why would I care if you discussed these things "a long time ago"? I DIDN'T it is NEW FOR ME
so I WILL DISCUSS THEM!
And while your IQ may be so low, that you are easily mislead by hearsay, or your time on this earth so limited that you are easily taken advantage of..some of us have succeeded in life and are STILL GROWING
thanks for your time and have a good day.
Wow. You are obviously an uneducated person, and cannot properly start a discussion without raging at people.
We are just answering your questions. Your attitude won't get you anywhere.
You should seriously consider changing your attitude to approach your life, otherwise I assure you that you will make many mistakes.
Please calm down and have a think yourself.
byt411 is correct.
Thanks for being patient and nice with our new friend.
See, I'm not trying to insult, I am just suggesting something, I'm just trying to help.
That's what disband means. Most of the miners would leave. Exactly.
I dont think this would work because
- most -if not all- pools are not run by a single person or a small group but by several people. How can you reach them all to bribe them?
- Why? Anyone or any group/government/etc. investing up to 100 Million needs are very good reason to do it. The main reason would be money. I dont see how you can make money off of this. Why would anyone want this?
- "the media" is not a single entity either. Different papers would see it differently and report differently about this. Same with "a goverment" (as stated above). Not many countries a ruled by a single person, thus there are usually several people who would have to decide that this is a good course of action.
tl;dr why? Whats the motive?
-$10 million even among several people is a lot of money. You only need to reach enough to manipulate 51%
-$100 million for a government is a drop in the bucket and in the USA - we just print it out. They don't do everything for "money". They do a lot for POWER and CONTROL. They would not be looking for a return on investment
- Main stream media is all about promoting government agendas. When you get involved with local or global economies, you begin to see things like the fed, REITs, IRS etc and how they all are propaganda to promote political agendas (Koch anyone?) I watched this happen real time during the real estate bubble and could not believe what all the "different" news media were saying while every sane investor was yelling _BUBBLE_ GET OUT_ !
Again, enabling transactions that are not 100% controlled can become a problem in lots of ways.
Thats partly motive anyway.
I just learned about the 51% attack.
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
I dont think this would work because
- most -if not all- pools are not run by a single person or a small group but by several people. How can you reach them all to bribe them?
- Why? Anyone or any group/government/etc. investing up to 100 Million needs are very good reason to do it. The main reason would be money. I dont see how you can make money off of this. Why would anyone want this?
- "the media" is not a single entity either. Different papers would see it differently and report differently about this. Same with "a goverment" (as stated above). Not many countries a ruled by a single person, thus there are usually several people who would have to decide that this is a good course of action.
tl;dr why? Whats the motive?
See, I'm not trying to insult, I am just suggesting something, I'm just trying to help.
Wow. You are obviously an uneducated person, and cannot properly start a discussion without raging at people.
surely you jest...right?
if you ask me it isn't that simple to take bitcoin out or it would have been done already. Even if it was to happen there would be a new coin to take it's place.
I just learned about the 51% attack.
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
So if I owned a pool and the Feds paid me ten million bucks to shut down the pool,
And i agreed, so what? My pool is shut down, and miners would join another pool.
So, nothing was accomplished except breaking up a large pool temporarily.
Wow. You obviously don't understand a 51% attack either.
The gov pays 3 major pools so that they direct their hashrate to create a dishonest chain and make other honest miners' blocks to become orphaned.
I understand what a 51% is lol... Good point but still if they did that, that would pool would be dead, so it would be good for only a short time, the pools would disband and bitcoin would continue.
They wouldn't "disband", just that most of the miners would leave and the bribing would have been worthless.
What do you think?
I think you should stop making silly threads and spend more time reading.
You're a noob, we get it but atleast show your effort in learning. Being spoonfed is not gonna get you anywhere. You will however be mislead by hearsay.
Dont you think we would have had discussed these topics long time ago?
Noob? How old are you 12? Do you live and operate in the real world or just online? Are you stuck in the chair at the computer? do u know how life works?
Are you in the COOL clique for BTC? ooooo-- should I try to be your friend?
Get over yourself...seriously.
FOR AS LONG AS THERE IS BITCOIN - there will be new people coming in.
THIS FORUM IS FOR DISCUSSION -- stay OUT OF THE DISCUSSION if you already know everything and had every possible discussion.
I didn't ask if you had this discussion...why would I care if you discussed these things "a long time ago"? I DIDN'T it is NEW FOR ME
so I WILL DISCUSS THEM!
And while your IQ may be so low, that you are easily mislead by hearsay, or your time on this earth so limited that you are easily taken advantage of..some of us have succeeded in life and are STILL GROWING
thanks for your time and have a good day.
Wow. You are obviously an uneducated person, and cannot properly start a discussion without raging at people.
We are just answering your questions. Your attitude won't get you anywhere.
You should seriously consider changing your attitude to approach your life, otherwise I assure you that you will make many mistakes.
Please calm down and have a think yourself.
byt411 is correct.
Thanks for being patient and nice with our new friend.
See, I'm not trying to insult, I am just suggesting something, I'm just trying to help.
That wont happen, if it does devs can always use a POS fork.
What do you think?
I think you should stop making silly threads and spend more time reading.
You're a noob, we get it but atleast show your effort in learning. Being spoonfed is not gonna get you anywhere. You will however be mislead by hearsay.
Dont you think we would have had discussed these topics long time ago?
Noob? How old are you 12? Do you live and operate in the real world or just online? Are you stuck in the chair at the computer? do u know how life works?
Are you in the COOL clique for BTC? ooooo-- should I try to be your friend?
Get over yourself...seriously.
FOR AS LONG AS THERE IS BITCOIN - there will be new people coming in.
THIS FORUM IS FOR DISCUSSION -- stay OUT OF THE DISCUSSION if you already know everything and had every possible discussion.
I didn't ask if you had this discussion...why would I care if you discussed these things "a long time ago"? I DIDN'T it is NEW FOR ME
so I WILL DISCUSS THEM!
And while your IQ may be so low, that you are easily mislead by hearsay, or your time on this earth so limited that you are easily taken advantage of..some of us have succeeded in life and are STILL GROWING
thanks for your time and have a good day.
Wow. You are obviously an uneducated person, and cannot properly start a discussion without raging at people.
We are just answering your questions. Your attitude won't get you anywhere.
You should seriously consider changing your attitude to approach your life, otherwise I assure you that you will make many mistakes.
Please calm down and have a think yourself.
byt411 is correct.
Thanks for being patient and nice with our new friend.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
I just learned about the 51% attack.
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
So if I owned a pool and the Feds paid me ten million bucks to shut down the pool,
And i agreed, so what? My pool is shut down, and miners would join another pool.
So, nothing was accomplished except breaking up a large pool temporarily.
Wow. You obviously don't understand a 51% attack either.
The gov pays 3 major pools so that they direct their hashrate to create a dishonest chain and make other honest miners' blocks to become orphaned.
I understand what a 51% is lol... Good point but still if they did that, that would pool would be dead, so it would be good for only a short time, the pools would disband and bitcoin would continue.
...
No offense, but that sounds exactly what a 9-year old kid that thinks he is grown-up would say.
Yeah, thats what a 9-year old kid that thinks he is a grown-up does to youNo offense, but that sounds exactly what a 9-year old kid that thinks he is grown-up would say.
So are you seriously implying that you are a 9-year old kid?
...
No offense, but that sounds exactly what a 9-year old kid that thinks he is grown-up would say.
Yeah, thats what a 9-year old kid that thinks he is a grown-up does to you No offense, but that sounds exactly what a 9-year old kid that thinks he is grown-up would say.
What do you think?
I think you should stop making silly threads and spend more time reading.
You're a noob, we get it but atleast show your effort in learning. Being spoonfed is not gonna get you anywhere. You will however be mislead by hearsay.
Dont you think we would have had discussed these topics long time ago?
Exactly. That's the whole point. And we have countermeasures that we can put into place in the event that this occurs.
We don't even need to hardfork, most miners would switch to another pool anyway.
No, the whole point is that when someone ask you what you think, you show some respect.
These forums are swarming with kids these days. Grow the f*** up!
LOL. Why start insulting too?
We expressed our opinions and showed the OP other threads where others expressed their opinions.
Then both of you start raging and cursing at us.
The thread you responded "exactly" to is a pile of poop.
If the original post was also a pile of poop, I wouldn't care. But it wasn't.
WOW. Such insult. "pile of poop". And then you say we are kids.
Please explain why you think it is a "pile of poop", otherwise you have no right to say so.
Grow up and you will see what I mean
No offense, but that sounds exactly what a 9-year old kid that thinks he is grown-up would say.
I just learned about the 51% attack.
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
So if I owned a pool and the Feds paid me ten million bucks to shut down the pool,
And i agreed, so what? My pool is shut down, and miners would join another pool.
So, nothing was accomplished except breaking up a large pool temporarily.
unless you owned one of the largest pools, and the other 9 pool owners were paid also (as I said in the original statement)
Why would the government want to kill something they want to tax? Makes no sense to them don't you think?
Goes against everything you learned in history class...
For example, the US.
The US sees BitCoin as a competitor to its US Dollar. If everyone treated bitcoin like a currency like the dollar, then it would severly hurt that country's economy, and its government cannot control it.
I love Bitcoin as much as the next guy, but I don't think we're quite at that stage yet. The government, IRS for instance, is looking for ways to tax it.
In the US government's eyes, it's a "property" not a currency, thus the "property tax" they've included this year for miners and investors.
We're only in year 5, lets get it accepted by Amazon and Ebay first, before we start threatening the US dollar.
What do you think?
I think you should stop making silly threads and spend more time reading.
You're a noob, we get it but atleast show your effort in learning. Being spoonfed is not gonna get you anywhere. You will however be mislead by hearsay.
Dont you think we would have had discussed these topics long time ago?
Exactly. That's the whole point. And we have countermeasures that we can put into place in the event that this occurs.
We don't even need to hardfork, most miners would switch to another pool anyway.
No, the whole point is that when someone ask you what you think, you show some respect.
These forums are swarming with kids these days. Grow the f*** up!
LOL. Why start insulting too?
We expressed our opinions and showed the OP other threads where others expressed their opinions.
Then both of you start raging and cursing at us.
The thread you responded "exactly" to is a pile of poop.
If the original post was also a pile of poop, I wouldn't care. But it wasn't.
WOW. Such insult. "pile of poop". And then you say we are kids.
Please explain why you think it is a "pile of poop", otherwise you have no right to say so.
Grow up and you will see what I mean
Why would the government want to kill something they want to tax? Makes no sense to them don't you think?
Goes against everything you learned in history class...
hard to tax something you do not completely control
Let me give you a VERY RECENT and VERY similar history lesson
If you were old enough to be on the internet and doing business on it at the time
check out something that was once called
e-gold
which is a forefather of BTC
and understand WHY the government shuts down such things.
What do you think?
I think you should stop making silly threads and spend more time reading.
You're a noob, we get it but atleast show your effort in learning. Being spoonfed is not gonna get you anywhere. You will however be mislead by hearsay.
Dont you think we would have had discussed these topics long time ago?
Exactly. That's the whole point. And we have countermeasures that we can put into place in the event that this occurs.
We don't even need to hardfork, most miners would switch to another pool anyway.
No, the whole point is that when someone ask you what you think, you show some respect.
These forums are swarming with kids these days. Grow the f*** up!
LOL. Why start insulting too?
We expressed our opinions and showed the OP other threads where others expressed their opinions.
Then both of you start raging and cursing at us.
The thread you responded "exactly" to is a pile of poop.
If the original post was also a pile of poop, I wouldn't care. But it wasn't.
WOW. Such insult. "pile of poop". And then you say we are kids.
Please explain why you think it is a "pile of poop", otherwise you have no right to say so.
I just learned about the 51% attack.
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
So if I owned a pool and the Feds paid me ten million bucks to shut down the pool,
And i agreed, so what? My pool is shut down, and miners would join another pool.
So, nothing was accomplished except breaking up a large pool temporarily.
unless you owned one of the largest pools, and the other 9 pool owners were paid also (as I said in the original statement)
Why would the government want to kill something they want to tax? Makes no sense to them don't you think?
Goes against everything you learned in history class...
For example, the US.
The US sees BitCoin as a competitor to its US Dollar. If everyone treated bitcoin like a currency like the dollar, then it would severly hurt that country's economy, and its government cannot control it.
What do you think?
I think you should stop making silly threads and spend more time reading.
You're a noob, we get it but atleast show your effort in learning. Being spoonfed is not gonna get you anywhere. You will however be mislead by hearsay.
Dont you think we would have had discussed these topics long time ago?
Exactly. That's the whole point. And we have countermeasures that we can put into place in the event that this occurs.
We don't even need to hardfork, most miners would switch to another pool anyway.
No, the whole point is that when someone ask you what you think, you show some respect.
These forums are swarming with kids these days. Grow the f*** up!
LOL. Why start insulting too?
We expressed our opinions and showed the OP other threads where others expressed their opinions.
Then both of you start raging and cursing at us.
The thread you responded "exactly" to is a pile of poop.
If the original post was also a pile of poop, I wouldn't care. But it wasn't.
Besides, 51% attack is a real threat imo. So far the best defense would be to switch to a currency that uses X11 hashing or something like that.
I just learned about the 51% attack.
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
People say it can't happen because "everyone loves BTC"
= Who would do that?
= WHO would have that much money to waste just to kill BTC
Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO
and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?
What do you think?
So if I owned a pool and the Feds paid me ten million bucks to shut down the pool,
And i agreed, so what? My pool is shut down, and miners would join another pool.
So, nothing was accomplished except breaking up a large pool temporarily.
unless you owned one of the largest pools, and the other 9 pool owners were paid also (as I said in the original statement)
Why would the government want to kill something they want to tax? Makes no sense to them don't you think?
Goes against everything you learned in history class...
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