Who couldn't see this coming?
Posted on 02/11/2014 12:06:45 PM PST by Errant
A “massive and concerted attack” has been launched by a bot system on numerous bitcoin exchanges, Andreas Antonopoulos has revealed.
This has lead to popular exchange Bitstamp putting a temporary halt on all bitcoin withdrawals.
Antonopoulos, who is the chief security officer of Blockchain.info, said a DDoS attack is taking Bitcoin’s transaction malleability problem and applying it to many transactions in the network, simultaneously.
“So as transactions are being created, malformed/parallel transactions are also being created so as to create a fog of confusion over the entire network, which then affects almost every single implementation out there,” he added.
(Excerpt) Read more at coindesk.com ...
I guess no one has pumped a few billion dollars of Bitcoins into Chase Bank as happened with the "vastly superior" Fed funny money.
I harbored no doubts about there not being a fight. New technology ALWAYS wins in the end though, if it proves itself advantageous over the old way of doing things.
The Controllers don’t like Bitcoin messing with their operations. That much should be obvious to everyone by now.
same game new target.
That over representation game...is useful
dollars,gold,silver,bitcoin,
some things will never change....the chins of course demand the real stuff...
LOL, yep... Didn't they just get fined for about three times the entire value of Bitcoins in the world for their "respected activities"?
The Fed can manipulate the gold market, which is orders of magnitude larger than the Bitcoin market. It can crush Bitcoin with little effort. Couple this with some cyber-warfare technology, and it costs very little.
That’s the fatal flaw in Bitcoin. Governments reserve the authority to create money out of nothing (aka, counterfeiting) to themselves, and can no more tolerate competition from alternative currency systems than they can counterfeiters.
Cui bono?
I pretty sure I can make back my Bitcoin losses with my Nigerian investments.
Your Gov’t dollars at work, like all Gov’t projects, it will fail, the smartest people are not in Gov’t.
My confidence is not shaken, this is a good thing and will only strengthen the Bitcoin system over time.
There is a world wide economic war going, my money is on the governed.
Mankind, if people in the world could wrestle control of the medium of exchange away from governments and banksters.
Mining is chugging along fine today.
We shall see. This is the first iteration, lots to learn and improvements to be made. Already there are almost a hundred more in the pipeline. It's a powerful idea, kind of like the idea of freedom in lots of ways. Of course the old system isn't going to go quietly - have they ever?
This just makes Bitcoin stronger. Bitcoin will out perform any financial instrument known to man in 2014.
My miners are bangin’ on all cylinders!
Ha! Mine too! ;)
This may actually be a good thing... It will be interesting to see how it weathers this storm and if it results in some security hardening. I’m sure it won’t be the last attack and the infrastructure needs to be tested to prove itself.
Thanks Errant.
Who couldn't see this coming?
...and so the bleeding obvious weakness of online currencies rears its ugly head.
5.56mm
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