DieJohnny



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LegendaryActivity: 1625Merit: 1002 Destruction of Bitcoin July 08, 2015, 02:27:43 AM #1 1. Bitcoin is on the cusp of becoming an asset that cannot be taken down. The next bubble will push bitcoin to such large market cap that nothing can stop it. So if there is any hope you could destroy it now is your last shot.

2. Governments should be threatened by Bitcoin, it can and likely will change everything about global finance. Certainly, the CIA and FBI have a vested interest in keeping Bitcoin at bay. I think it is actually foolish to think a government like the USA or China would not have every single bitcoin weakness outlined and be poised to attack at the right time. Hell, if a government can infiltrate firmware for nuclear power plants in Iran, they can attack bitcoin.

3. Technical weaknesses may not even be the attack vector. A well funded and thoughtful attack on the opposition would mean all weaknesses will be exploited. The best ones for Bitcoin are probably human. Governments are masters at social engineering people to do what they want (see the Democratic and Republican parties), certainly they can infiltrate Bitcoin devs and destroy it from within, or take some large miners and turn them into nothing more than spies and internal terrorists by simply paying them off.

4. Bitcoin is not really prepared for war, it has become a game of appeasement, not a fight to the death. Alt-coins have come and gone without even a chink in the btc armor. Bitcoiners are prideful; the blockchain and mining are indisputable winners in the battle for immortality. It is as if that battle has already been won. Nothing about Bitcoin development: mining, chat discussions, and general bitcoin chatter take war seriously at all. Bitcoin is weak because the only way to survive what is coming is maniacal focus on survival, which focus today simply does not exist.



Sure this is crazy talk, but if you really believe Bitcoin is so disruptive don't you know that an attack MUST be coming?



I am saying no doubt about it, Bitcoin is vulnerable and about to be attacked on possibly many fronts, prepare to witness carnage. Those who hold and those who are without property have ever formed distinct interests in society

coinableS



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LegendaryActivity: 1106Merit: 1010 Re: Destruction of Bitcoin July 08, 2015, 03:10:51 AM #3 Quote from: DieJohnny on July 08, 2015, 02:27:43 AM 1. Bitcoin is on the cusp of becoming an asset that cannot be taken down. The next bubble will push bitcoin to such large market cap that nothing can stop it. So if there is any hope you could destroy it now is your last shot.



Bravo, agreed.



Quote 2. Governments should be threatened by Bitcoin, it can and likely will change everything about global finance. Certainly, the CIA and FBI have a vested interest in keeping Bitcoin at bay. I think it is actually foolish to think a government like the USA or China would not have every single bitcoin weakness outlined and be poised to attack at the right time. Hell, if a government can infiltrate firmware for nuclear power plants in Iran, they can attack bitcoin.

Stuxnet was a piece of code that dialed in to affect a very specific hardware, down to the serial #s, at the nuclear power plant. There was a very good documentary on this, but I can't find it right now. IMO this could not have been done unless they had someone on the inside. How would they attack miners or nodes when it's not an easy centralized target like the power plant?



Quote 3. Technical weaknesses may not even be the attack vector. A well funded and thoughtful attack on the opposition would mean all weaknesses will be exploited. The best ones for Bitcoin are probably human. Governments are masters at social engineering people to do what they want (see the Democratic and Republican parties), certainly they can infiltrate Bitcoin devs and destroy it from within, or take some large miners and turn them into nothing more than spies and internal terrorists by simply paying them off.

I've thought about this as well. They could persuade the core devs with commit access, but I don't think they can persuade all the users as well. People could just stay and use an old version if bitcoin is changed to something that the users do not want. But they could sneak some changes in I suppose. They could technical ruin bitcoin, but wouldn't an altcoin just rise in it's place?



Quote 4. Bitcoin is not really prepared for war, it has become a game of appeasement, not a fight to the death. Alt-coins have come and gone without even a chink in the btc armor. Bitcoiners are prideful; the blockchain and mining are indisputable winners in the battle for immortality. It is as if that battle has already been won. Nothing about Bitcoin development: mining, chat discussions, and general bitcoin chatter take war seriously at all. Bitcoin is weak because the only way to survive what is coming is maniacal focus on survival, which focus today simply does not exist.



Sure this is crazy talk, but if you really believe Bitcoin is so disruptive don't you know that an attack MUST be coming?



I am saying no doubt about it, Bitcoin is vulnerable and about to be attacked on possibly many fronts, prepare to witness carnage.



I say, Engarde!!

Bravo, agreed.Stuxnet was a piece of code that dialed in to affect a very specific hardware, down to the serial #s, at the nuclear power plant. There was a very good documentary on this, but I can't find it right now. IMO this could not have been done unless they had someone on the inside. How would they attack miners or nodes when it's not an easy centralized target like the power plant?I've thought about this as well. They could persuade the core devs with commit access, but I don't think they can persuade all the users as well. People could just stay and use an old version if bitcoin is changed to something that the users do not want. But they could sneak some changes in I suppose. They could technical ruin bitcoin, but wouldn't an altcoin just rise in it's place?I say, Engarde!! Building Bitcoin Websites

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DieJohnny



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LegendaryActivity: 1625Merit: 1002 Re: Destruction of Bitcoin July 08, 2015, 03:21:20 AM #4 Quote from: coinableS on July 08, 2015, 03:10:51 AM They could technical ruin bitcoin, but wouldn't an altcoin just rise in it's place?



Living to fight another day is the point. Sure they won't destroy the concept, however, they can buy time and with time the future can look completely different.



The government's first goal is survival and Bitcoin is about to take them all down, victory isn't going to be just handed to us all.



En garde indeed Living to fight another day is the point. Sure they won't destroy the concept, however, they can buy time and with time the future can look completely different.The government's first goal is survival and Bitcoin is about to take them all down, victory isn't going to be just handed to us all.En garde indeed Those who hold and those who are without property have ever formed distinct interests in society

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LegendaryActivity: 870Merit: 1004 Re: Destruction of Bitcoin July 08, 2015, 05:02:46 AM #6 The thing that will allow bitcoin to succeed, in my opinion, is that the establishment is split between wanting to control (intelligence, security and the banking establishment) and to exploit a disruptive technology to make money (silicon valley, progressive finance companies) so all bitcoin has to do is appear less threatening to the first and more promising to the second and by the time they have finished fighting we will have taken over Documentally

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LegendaryActivity: 2422Merit: 1008 Re: Destruction of Bitcoin July 08, 2015, 08:11:12 AM #7 why they should when they can simply tax it to death? they are seeing bitcoin as a new fortune for them, a new tax heaven, they will let it grow to a higher level, only few country cannot accept this, maybe because there aren't many people using it



none will destroy the bitcoin besides the miner if they screw something, like they do some times

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Hero MemberActivity: 714Merit: 500 Re: Destruction of Bitcoin July 08, 2015, 01:10:13 PM #8 They can try to ban bit coin. They can try to regulate bitcoin. They can try to clone bitcoin, but they can never touch the fucking power of bitcoin because all of the fucking power is backed up by the supporters, their hopes, their dreams, their constant use of the bitcoin and the massive adoption of bitcoin which has already taken place in their lives. They cannot touch it, they can only shield their asses, but they know its going to end up fucking them in the ass

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Hero MemberActivity: 703Merit: 502 Re: Destruction of Bitcoin July 08, 2015, 01:31:39 PM #9 The only way they can "attack" bitcoin - is to implement a technology that delivers all 90% of the benefits of bitcoin that the average person might care about. ie - using it saves them money, and is as easy or easier than their existing solution

Do that and bitcoin and altcoins become a niche technology beloved by a small passionate usergroup - oh wait.

JJB



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Full MemberActivity: 131Merit: 100 Re: Destruction of Bitcoin July 08, 2015, 03:53:22 PM #10 Quote from: coinableS on July 08, 2015, 03:10:51 AM Quote from: DieJohnny on July 08, 2015, 02:27:43 AM 1. Bitcoin is on the cusp of becoming an asset that cannot be taken down. The next bubble will push bitcoin to such large market cap that nothing can stop it. So if there is any hope you could destroy it now is your last shot.



Bravo, agreed.

Bravo, agreed.

I'm not so sure. Seems like wishful thinking as much as I would like it to be true. No outside force will likely be able to take bitcoin down but the price fluctuations that happen based on seemingly nothing could be a problem. It's obviously not bad for anyone when the price goes up but it's down that everyone loses out especially casual bitcoin users. They have no real need or desire to get involved with bitcoin when it loses them money and as a currency this is not every good at all. I'm not so sure. Seems like wishful thinking as much as I would like it to be true. No outside force will likely be able to take bitcoin down but the price fluctuations that happen based on seemingly nothing could be a problem. It's obviously not bad for anyone when the price goes up but it's down that everyone loses out especially casual bitcoin users. They have no real need or desire to get involved with bitcoin when it loses them money and as a currency this is not every good at all.

bumm



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Sr. MemberActivity: 378Merit: 250 Re: Destruction of Bitcoin July 09, 2015, 03:58:57 PM #13 bitcoin must be on the watchlist of every government. i think they are just waiting for the right time to attack. Keeping illegal money as bitcoin is very easy, this might be one of the biggest reason for attack on bitcoin by govt.