Topic: SLASHDOT: Bitcoin Protocol Vulnerability Could Lead To a Collapse (Read 1068 times)

Barek

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Earlier post with same/similar topic here:

https://bitcointalksearch.org/topic/bitcoin-flaw-could-let-group-take-control-of-currency-325225

Quote from: Melbustus on November 05, 2013, 01:12:14 AM

Old and overblown news. Here's the more detailed tech thread on it, which notes, among other things, that the basic idea of this attack has been discussed for 3 years now:

https://bitcointalksearch.org/topic/majority-is-not-enough-bitcoin-mining-is-vulnerable-324413

Something to be addressed long-term, but not a big deal. This thread's title is pretty misleading once you understand the issue.

esenminer

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http://slashdot.org/story/13/11/04/2247258/bitcoin-protocol-vulnerability-could-lead-to-a-collapse

Thought this would be of interest. The jist, I gather, is that due to how the Bitcoin protocol works you only need to control 33% of the mining power to successfully attack the bitcoin network (also see https://en.bitcoin.it/wiki/Weaknesses)

not sure this is even a problem at this point with the current state of the network but interesting...

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