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 ...
And there is a lot of unknowns, like when did attacks actually begin on Mt. Gox. They've been having problems transferring funds to customers way before this.
Agree
“Bitcoin is toast. What? You thought they were going to let it survive? As a former Prosecutor most people truly have NO idea how powerful even a state government is.”
Yep, just witness how omnipotent the “guvmint” has been against the drug trade!
Or not.
Anyhow, I’ll keep an eye out for my “powerful” state government for sure... ;-)
As a further aside, I expect any government efforts to attack cryptocurrencies will fare about as well as an attack on barter. :-)
“...and so the bleeding obvious weakness of online currencies rears its ugly head.”
Sure. And the amazing strength of fiat currencies is evident, right? $75 billion per month of “quantitative easing”...good stuff. :-P
Everything in the world is worth exactly what someone is willing to pay for it. At the moment, it’s around $660 per bitcoin.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.