21–30 of 45 posts
Who benefits from this?
Off the top of my head the people with the largest long-term vested interest in bitcoin would be 1. Satoshi Nakamoto (whoever s/he really is) 2. Winkelvoss twins 3. Whoever stole coins from the various exchange hacks
My understanding is it works like this in Ethereum: The miners can run any arbitrary code ("a contract") that you write, and this code is verifiable and trusted by everyone once it's been uploaded to the blockchain. The contracts can read/write arbitrary things in the blockchain and send coins to anyone you want, determined by the code you write. There's a "gas price" that you have to pay for each operation you tell…
Who benefits from this?
Who benefits from this?
Case in point is the International Cyber Security Protection Alliance:
https://www.reddit.com/r/Bitcoin/comments/1h43ez/chilling_ar....
This organization represents major financial firms, including Visa Europe, and law enforcement agencies, including the City of London Police and Europol, and had a 2 page article appearing in the 2013 G8 trade magazine calling for a global ban on Bitcoin, for the most powerful people in the developed world to read.
The people who run this organization appear to be ruthless and amoral, going as far as publicly justifying cyber attacks against companies in the Bitcoin space:
https://www.reddit.com/r/Bitcoin/comments/1giuft/quote_from_...
Then there is the Hacking Team, a blackhat cyber security firm that works for government agencies around the world, and whose CEO said in an email "The DARKNET is your enemy. TOR is your enemy. ENCRYPTION is your enemy":
Could individual miners change the cost they charge for individual opcodes, or perhaps even disable specific opcodes alltogether?
disable specific opcodes alltogether
Isn't this the kind of thing that a decentralized network should be resilient against? Maybe I just don't understand blockchains.
This looks more like a bug, where the attacker exploited a function which is particularly slow and forced the nodes to run this function many times. If the nodes had different implementations, chances would be that only some nodes would be slown down, but the reality -i assume- is that there's only 1 implementation. Think to mail servers, if they were all running the same os/sw then attacks to the whole system could…
This was part of the development philosophy, to implement the client (based on the yellow paper http://gavwood.com/paper.pdf that specifies the protocol) in multiple languages in order to find bugs: if 2 clients don't agree on something, then we found a bug.
My understanding is it works like this in Ethereum: The miners can run any arbitrary code ("a contract") that you write, and this code is verifiable and trusted by everyone once it's been uploaded to the blockchain. The contracts can read/write arbitrary things in the blockchain and send coins to anyone you want, determined by the code you write. There's a "gas price" that you have to pay for each operation you tell…
Right now, it seems ethereum is just an almost-free VPS service and people are surprised that actors are taking advantage of it.
My understanding is it works like this in Ethereum: The miners can run any arbitrary code ("a contract") that you write, and this code is verifiable and trusted by everyone once it's been uploaded to the blockchain. The contracts can read/write arbitrary things in the blockchain and send coins to anyone you want, determined by the code you write. There's a "gas price" that you have to pay for each operation you tell…
Just means the market needs to raise the prices. In bitcoin this is similar to raising transaction fees to add a disincentive for DDOS attacks. Right now, it seems ethereum is just an almost-free VPS service and people are surprised that actors are taking advantage of it.
I guess, if most VPS services cost >$5/minute: https://www.reddit.com/r/ethtrader/comments/53xt58/daily_dis...
Who benefits from this?