Potential vulnerabilities to the Bitcoin protocol, code or implementation. Potential weaknesses in the Bitcoin concept are probably better tagged "Economics."

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11
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5answers
98 views

What would be required to disincentivize mining pools?

Now that mining pools are starting to hit the 51% cusp of total mining power, what would need to happen to the Bitcoin protocol to reduce their success, and encourage distributed mining power over ...
2
votes
2answers
276 views

Why is Enjoy Sochi a malicious spam attack

I recently read the following thing on reddit: The two transactions for .00000001 BTC are a malicious spam attack. They were sent without fees, which means that if you wallet doesn't allow you ...
4
votes
2answers
507 views

Can the bitcoin network hashrate be used for a 51% attack on other coins?

Please correct me if I am wrong. The difficulty constantly changes according to the current hash rate. It changes to ensure that a block is mined every 10 minutes. If the hash rate was 1000 TH/s and ...
1
vote
1answer
126 views

What will happen, if transaction's rate becomes very high?

Let's imagine, that the bitcoin network becomes very responsive in the future. So, that the time of exchange of transactions between peers is comparable with a time of evaluation of a bunch of hashes. ...
3
votes
1answer
327 views

What are the advantages of using Secp256k1?

Bitcoin uses secp256k1 as the specification for it's address system (https://en.bitcoin.it/wiki/Secp256k1). What are the advantages (and disadvantages) of using this over other specifications such as ...
6
votes
1answer
505 views

What are Ripple's weaknesses?

Bitcoin's vulnerabilities are well documented. Is there are similar document for Ripple?
6
votes
3answers
2k views

What happens to the bitcoin network when the miners all stop in the future?

What happens to the bitcoin network when the miners all stop, years in the future after all the bitcoins have been mined? How will the network continue to function? Won't bitcoins then be useless? ...
3
votes
2answers
714 views

Developments to prevent 51% hack [duplicate]

How might Bitcoin be made impervious from attack by large monied interests that could atttack with a brute force majority hashrate hack?
1
vote
4answers
581 views

Would bitcoin be destroyed if a wealthy organization obtained a CPU majority for a sustained period?

Inspired by this question ("Could bitcoin be destroyed by an entity cornering the market?") and the top comment on this answer to this question ("How much would it cost to execute a 51% attack?"). ...
-2
votes
2answers
619 views

What improvements could a next-generation cryptocurrency implement?

What would next generation cryptocurrency would look like? What are the major weaknesses that you think we could solve? How do you envision it could be implemented technically? For example: How ...
2
votes
1answer
302 views

Why should a miner chose the longest blockchain if an other chain has a higher expected reward?

Why did miners/pools choose the longest chain for continuing it? Because with this strategy they have the highest expected bitcoin reward. The expected bitcoin reward is (new generated bitcoin (b) + ...
2
votes
2answers
638 views

Strategies against Bitcoin

With the recent increase in articles about the threat of Bitcoin vs central banks, government and other authorities over the money supply, I am wondering how well authorities are prepared and actively ...
17
votes
4answers
15k views

What effects would a scalable Quantum Computer have on Bitcoin?

A scalable quantum computer is a quantum computer that is easy to extend - adding more (q)bits of memory is not a fundamentally hard problem, and will happen. Or, alternatively, that it follows ...
4
votes
1answer
887 views

How Does trading on the Exchanges Work?

Pardon my Ignorance but can somebody explain the basics Of how trading (Bid Buy/Bid Sell) works of the common exchanges www.mtgox.com www.btc-e.com Aslo some of the common ways people or ...
13
votes
8answers
1k views

Could bitcoin be destroyed if an entity cornered the market?

I know the US Government is opposed to competing currencies. It seems that it would be a rather simple solution for them to destroy Bitcoin before it grows too much by merely buying all the currency, ...
13
votes
2answers
567 views

Does any pool accept higher-fee transactions of a double spend, instead of the earlier one?

Some pools use a modified bitcoind that uses different rules for choosing the transactions to include in a block. Are there any pools that knowing one transaction to be included in a block would ...
12
votes
1answer
631 views

Was a timejacking attack ever performed?

The timejacking attack appears to be a pretty straightforward attack to pull off successfully. I was wondering, whether it was ever performed and documented somewhere, or was it just theoretically ...
4
votes
1answer
468 views

How to secure one's Bitcoin Client from packet sniffing?

Potential packet sniffing weakness has been described on the Weakness Wiki page. It states that an attacker that can see all of our internet traffic can pick up which transactions originate from our ...
2
votes
2answers
353 views

What are the limitations of a Client connecting to the Network through TOR?

I've recently been reading the Weaknesses Wiki page on "Attack on all users" and I came upon this statement: The IP addresses of most users are totally public. You can use Tor to hide this, but ...
2
votes
3answers
517 views

What happens if a monopoly grows in Bitcoin mining and payment processing?

What happens if a monopoly grows in Bitcoin mining and payment processing? Here is a scenario that I have been thinking about. Some big corporation, like the Bank of Amerika, decides that Bitcoin is ...
8
votes
2answers
941 views

Does Bitcoin rely on the internet?

Is it possible to run Bitcoin mining and transaction distribution without using the internet? For example, how would Bitcoin continue in the event of a total clampdown by a telco?
11
votes
2answers
894 views

Is Bitcoin inherently dependent on electricity?

Obviously, the computing power necessary to create the blockchain requires access to fast hashing which requires electricity. Given that local power outages do occur, and this can cause a lack of ...
9
votes
1answer
517 views

Strange transaction (block 71036)

What happened to this transaction? Can someone explain it? http://blockexplorer.com/t/9eHTFRi3Qq
21
votes
4answers
3k views

How is block-solution-withholding a threat to mining pools?

If I understand the technical process (for most mining pools) correctly, a participant in a mining pool is given block data to combine with a nonce to try to solve the block. If they get close (but ...
11
votes
1answer
733 views

Would a reduced block generation time make the Finney attack more difficult?

Related Question: What can be done to mitigate the risk of a Finney attack? The Finney attack is a form of double-spending attack where the attacker pre-mines a block containing a conflicting ...
13
votes
1answer
686 views

What is the “zeitgeist attack”? Does it affect all blockchain technologies?

What exactly is this attack? It would be nice to have a good explanation of how it works and which chains can be effected by this. Does it apply to the bitcoin main chain, or only the newer and ...
8
votes
2answers
371 views

What prevents bitcoin from breaking down in case of a “transaction attack”

Let's say that I want to kill Bitcoin by means of a transaction attack. What in the bitcoin system prevents the following approach: I buy a limited number of bitcoin in the market. Using a small ...
12
votes
2answers
989 views

Will the amount of electricity used for mining be huge if Bitcoin is widely adopted?

A quick and very rough estimation: If the USD/BTC exchange rate grows to $1000/BTC (not that far-fetched if Bitcoin is actually widely adopted) bitcoins for a value of $300000 would be produced every ...
9
votes
1answer
165 views

What security features are built in to the standard Bitcoin software?

I have read much of the Bitcoin algorithm and its encryption basis, however little has been said of the software's inherent security. What solutions are already built in to the software, and what is ...
8
votes
2answers
196 views

Do any of the Bitcoin exchanges implement trading curbs?

After the big hack of Mt Gox we all became aware that there is nothing in place to prevent "flash crashes." Most stock, FOREX and other exchanges have features like trading curbs or other market ...
7
votes
3answers
571 views

Which Bitcoin weakness most hinder Bitcoins ability to gain market and mind share? [closed]

Bitcoin has a few weaknesses. Among the well known ones are: Transactions are not instantaneous. Large numbers of transactions would bloat blocks. Transaction fees are needed in some cases. The ...
30
votes
4answers
3k views

What methods could a government use to shutdown Bitcoin?

Let's say that that a government decided to shut down the Bitcoin network, what options would they have to achieve this? Would they need to convince other/all governments? Let's set as a precondition ...
19
votes
4answers
483 views

How can I contribute to the open source Bitcoin project?

Generally speaking, how can: A) A programmer contribute to Bitcoin? B) A non-programmer contribute to Bitcoin? Essentially; which areas are in most need of programming work / non-programming work?
31
votes
13answers
4k views

Will deflation destroy Bitcoin?

With the limited total quantity of bitcoins, and people losing their wallets constantly decreasing that number, won't rampant deflation destroy Bitcoin?
46
votes
9answers
13k views

Is it possible to brute force bitcoin address creation in order to steal money?

Bitcoin users frequently generate new addresses for each transaction they make, which greatly increases the number of bitcoin addresses being used to receive money. Would it be possible (and ...