scenarios if US Govt tried to take down bitcoin? - page 7.

niothor

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in defi we trust

Quote from: superresistant on November 12, 2013, 04:03:29 AM

US have no intention to take it down.

They cannot take it down. Can you take down Internet ?

Yes , you can. The free internet project it's just a joke at the moment. The main traffic still relies on cables and satellites.
Take down a few cables like that grandma did in Georgia? (the country/not state) and problem solved.
Also the routing servers can be taken down easily.
I remember somebody saying that the us has 10 times the amount of rockets needed to destroy 90% of the largest databases in the world.

So , yes , it can be done. But nobody is insane enough to try it.

Also , why the internet , just raid the location where the mining pools are take control and ..1 hour , 10 blocks , bitcoin problem solved.
At the moment bitcoin is a grain of sand compared to other things the government is preoccupied.

Hopefully , until it becomes a real problem for them we will fix some of the vulnerabilities.

lorax2013

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Quote from: p2pbucks on November 12, 2013, 04:12:04 AM

first they will illegalize bitcoin using some funny excuses (drugs , laundering etc)
second ban bitcoin trading platform & frozen tons of bitcoin related companies' accounts (wall st damn banker are willing to do this)
third assert any bitcoin trading activities with US citizens is illegal ， prepare to suppress bitcoin companies overseas
fourth arrest tons of people to intimidate you guys

Yes, I should have said I'm focused on more "techinical" attacks like a 51% attack - things that could take it down worldwide. I think we have a good idea with precious metals how things would play out with the traditional "make it illegal" approach.

lorax2013

newbie

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Quote from: superresistant on November 12, 2013, 04:03:29 AM

US have no intention to take it down.

They cannot take it down. Can you take down Internet ?

I want to bypass a side debate on whether they would try to take it down and just begin with the premise they try. If you want to consider whether they would try such a thing research: Liberty dollar, EGold, MFGlobal, etc.

As I understand it a 51% attack would be one possibility, but I'm not an expert and really admire the collective knowledge enabled by focused discussion on this forum.

corebob

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Quote from: lorax2013 on November 12, 2013, 03:59:11 AM

Starting with the premise that the US Government tries to take down bitcoin entirely.

What would be the most likely form(s) of attack?
Would they be able to keep any viable form of attack secret or shift blame to another entity?
Which if any methods do you believe would have a likelihood of success given a concerted effort?
What would very rough dollar cost estimates be for various methods?
Would there be signals of an attack or could this occur with no warning?
Could any responses be developed within the bitcoin framework or do you see another existing or proposed cryptocurrency that would be safe from such attacks?

Sorry I know it is a messy bunch of questions, but perhaps also the most important to consider long-term.

A couple of thoughts:

- The cryptography could be broken. Nobody would know about it.
- The block chain gets too big to maintain for the average bitcoin user. We would know about it and possibly be able to fix it in time.

p2pbucks

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Evolution is the only way to survive

first they will illegalize bitcoin using some funny excuses (drugs , laundering etc)
second ban bitcoin trading platform & frozen tons of bitcoin related companies' accounts (wall st damn banker are willing to do this)
third assert any bitcoin trading activities with US citizens is illegal ， prepare to suppress bitcoin companies overseas
fourth arrest tons of people to intimidate you guys

Bitemarx

member

Activity: 84

Merit: 10

Quote from: superresistant on November 12, 2013, 04:03:29 AM

US have no intention to take it down.

They cannot take it down. Can you take down Internet ?

You opened my eyes, it's obvious now. Thank you !

superresistant

legendary

Activity: 2156

Merit: 1131

US have no intention to take it down.

They cannot take it down. Can you take down Internet ?

lorax2013

newbie

Activity: 29

Merit: 0

Starting with the premise that the US Government tries to take down bitcoin entirely.

What would be the most likely form(s) of attack?
Would they be able to keep any viable form of attack secret or shift blame to another entity?
Which if any methods do you believe would have a likelihood of success given a concerted effort?
What would very rough dollar cost estimates be for various methods?
Would there be signals of an attack or could this occur with no warning?
Could any responses be developed within the bitcoin framework or do you see another existing or proposed cryptocurrency that would be safe from such attacks?

Sorry I know it is a messy bunch of questions, but perhaps also the most important to consider long-term.

Topic: scenarios if US Govt tried to take down bitcoin? - page 7. (Read 11932 times)