What happens if Bitcoin is compromised again?

enter`name`here

jr. member

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Merit: 1

Quote from: Buffer Overflow on November 29, 2013, 05:48:28 PM

Quote from: YoYa on November 29, 2013, 03:32:32 PM

Quote

Bitcoin was completely subverted once

Citation needed.

In fairness to revans he is correct.

https://web.nvd.nist.gov/view/vuln/detail?vulnId=CVE-2010-5139

I've come to the conclusion revans is a paid troll or someone in a financial business that will be hit bad when Bitcoin eventually renders it obsolete.

Option 3 is that he is ideologically driven, If crypto currencies become dominant it will make it that much more difficult for the state to fund his particular brand of utopia.

Either way he doesn`t upset me that much. I`d say having people make faulty criticisms makes your position look stronger then if no one was making them at all, it shows their desperation.

"I have never made but one prayer to God, a very short one: 'O Lord make my enemies ridiculous.' And God granted it."
- Voltaire

GigaCoin

sr. member

Activity: 308

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Giga

History teaches us that no matter how secure technology is, it can and will always be hacked. Continuos development, security improvements and infrastructure enhancements help prevent or delay that from happening.

Bitsurprise

newbie

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Quote from: revans on November 29, 2013, 03:26:26 PM

Bitcoin was completely subverted once, but it was sufficiently early in its development that the problem could be rolled back and there was no lasting damage. Given the current price of Bitcoins, the motivation for people to search for an create exploits is much larger. If Bitcoin was compromised now, could it recover?

Agree with you the motivation is much higher right now , and i don't think it will recover cuz people will lose confidence , they will lose confidence anyway after the next big selloff , too much money on stake right now , this cant be compared to the $32 bubble , ofcourse no one will admit that cuz now we're in the delusion greed phase ...

traderCJ

sr. member

Activity: 280

Merit: 250

Quote from: revans on November 29, 2013, 08:07:25 PM

Quote from: bitcon on November 29, 2013, 08:05:50 PM

FUD master!

Fud is it?

If it happened once it can certainly happen again. It is ridiculous to suggest that Bitcoin is now beyond being exploited

How many TCP/IP exploits do we live with? Or OS exploits? My God man, hundreds of new viruses introduced daily, DDOS attacks, DNS spoofing, buffer overflow exploits. The digital world is drowning in vulnerabilities and exploits. But guess what? They get patched and we move on. It happened with BTC. It happened with NMC. It will happen many, many more times, I am sure. And we'll have all the broken clocks like you in the room saying "see? see?". Price dips, then recovers .. and I'll roll my eyes .. hard Roll Eyes

pokerman

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WTS: SQC (StupidQuestionCoins) @ 0.000003 btc

Crazy

full member

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If we can't detect it how would I know. Cheesy

gtabmx

newbie

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Quote from: Crazy on November 30, 2013, 01:02:48 AM

Quote from: gtabmx on November 30, 2013, 12:59:39 AM

When was "Bitcoin completely subverted"? The fail of an exchange has no relationship to the integrity of a currency, just like the failure of the NASDAQ has not relationship to the integrity of the company of any of the stocks.

Read up a few posts. Though the information disclosed in the link won't make much sense to anyone without a technical background.

That's fine, I shouldn't have an issue given my degree as a computer engineer and work experience developing software.

No bitcoin was stolen on that attack and it was quickly caught and neutralized. Not to mention that it actually demonstrates how the openess of the entire blockchain (and thus global bitcoin transactions) allows anyone to review what's going on to quickly report such issues. How many illegal attempted transactions or fraud schemes are going on right as we speak with fiat currencies, that we cannot detect?

Crazy

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Quote from: gtabmx on November 30, 2013, 12:59:39 AM

When was "Bitcoin completely subverted"? The fail of an exchange has no relationship to the integrity of a currency, just like the failure of the NASDAQ has not relationship to the integrity of the company of any of the stocks.

Read up a few posts. Though the information disclosed in the link won't make much sense to anyone without a technical background.

gtabmx

newbie

Activity: 49

Merit: 0

Quote from: revans on November 29, 2013, 03:26:26 PM

Bitcoin was completely subverted once, but it was sufficiently early in its development that the problem could be rolled back and there was no lasting damage. Given the current price of Bitcoins, the motivation for people to search for an create exploits is much larger. If Bitcoin was compromised now, could it recover?

When was "Bitcoin completely subverted"? The fail of an exchange has no relationship to the integrity of a currency, just like the failure of the NASDAQ has not relationship to the integrity of the company of any of the stocks.

Buffer Overflow

legendary

Activity: 1652

Merit: 1016

Quote from: revans on November 29, 2013, 06:04:35 PM

Paid troll! I wish.

Didn't deny the second option I see. I understand financial businesses are starting to worry a little over Bitcoin. I'll put you in that category.

Bitcoin may succeed, it may not. I don't know the answer, you don't know the answer, no-one else on this forum does. But what I do know is that FUD spreaders will not change the outcome.

Bitcoin isn't flawless, we all know that.
The question is 'is it good enough?'
*shrug* I don't know. We will all find out in time.

hacknoid

sr. member

Activity: 418

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Proud Canuck

Quote from: Bitcopia on November 29, 2013, 04:59:01 PM

Seriously, mods, is there a limit to how many threads a user can start? This is getting out of control.

Don't forget the "ignore" button. Makes trading the forum much less frustrating! Although I am seeing a noticeable proportion of my thread list being grayed out now.. Grin

revans

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Activity: 336

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Quote from: bitcon on November 29, 2013, 08:05:50 PM

FUD master!

Fud is it?

If it happened once it can certainly happen again. It is ridiculous to suggest that Bitcoin is now beyond being exploited

bitcon

legendary

Activity: 2212

Merit: 1008

FUD master!

revans

sr. member

Activity: 336

Merit: 250

Quote from: Buffer Overflow on November 29, 2013, 05:48:28 PM

Quote from: YoYa on November 29, 2013, 03:32:32 PM

Quote

Bitcoin was completely subverted once

Citation needed.

In fairness to revans he is correct.

https://web.nvd.nist.gov/view/vuln/detail?vulnId=CVE-2010-5139

I've come to the conclusion revans is a paid troll or someone in a financial business that will be hit bad when Bitcoin eventually renders it obsolete.

Paid troll! I wish.

Buffer Overflow

legendary

Activity: 1652

Merit: 1016

Quote from: YoYa on November 29, 2013, 03:32:32 PM

Quote

Bitcoin was completely subverted once

Citation needed.

In fairness to revans he is correct.

https://web.nvd.nist.gov/view/vuln/detail?vulnId=CVE-2010-5139

I've come to the conclusion revans is a paid troll or someone in a financial business that will be hit bad when Bitcoin eventually renders it obsolete.

Hawker

legendary

Activity: 1218

Merit: 1001

Quote from: ChanceCoats123 on November 29, 2013, 04:57:46 PM

Actually, it's obvious that the number of these posts will crash because the current levels are completely unsustainable. I expect to see us back at 3-4 threads per week very soon.

No! The Revans thread count is going TO THE MOON!!!!11!

Bitcopia

hero member

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Seriously, mods, is there a limit to how many threads a user can start? This is getting out of control.

ChanceCoats123

hero member

Activity: 682

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Actually, it's obvious that the number of these posts will crash because the current levels are completely unsustainable. I expect to see us back at 3-4 threads per week very soon.

bitcoin44me

full member

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MARKETPLACE FOR PAID ADVICE LIVE BROADCASTS

Obvious troll is obvious

freethink2013

full member

Activity: 224

Merit: 100

Quote from: KFR on November 29, 2013, 03:38:31 PM

The real question is what happens when the trolls run out of stupid questions. Is there a limitless supply of stupid questions? And if that is the case, how can they hold any value?

Stupid questions are the new tulips

Topic: What happens if Bitcoin is compromised again? (Read 2162 times)