I saw BlitCoin mentioned on this forum thread, but didn't understand what it was. Can someone explain what does it do?
Dan Kaminsky has the idea that if you have enough bitcoin nodes/connections under your control, than by looking at how transaction spread across the bitcoin p2p network, you can determine ip address of a node that was the source of transaction, Blitcoin is suppose to be to the tool for that. I think that won't become a problem because use of a simple proxy that hides ip address of a sender, will be sufficient solution.
Post on forum from Dan Kaminsky himself BitCoin Deanonymization
Disscusion among developers Blitcoin? (Black Hat 2011)