Questions tagged [weaknesses]

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

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How would one test the impact on the Lightning Network of a network split on the base layer?

How would one test the impact on the Lightning Network of a network split on the base layer (the blockchain progressing on two separate branches with each branch unaware of the other competing branch)?...
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0 votes
2 answers
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Why bitcoins storing on a smartphone are considered vulnerable?

Let's suppose, someone stores all their bitcoins in an Android or iOS wallet. he/she never stores a seed on the phone he/she uses different addresses for change wallet and gadget are password ...
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1 answer
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What is the electrum bitcoin wallet password encryption method?

What method does Electrum bitcoin wallet use for password encryption? I want to check to see if the file encrypted with the password is secure. And what are the ways around to decrypt it outside the ...
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BTC - Mining Vulnerability and Future Consesus

In order for changes to the Bitcoin protocol to be made, 95% consensus must be achieved, otherwise a hard fork would need to occur? Is this the primary reason why changes to the core protocol are so ...
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-1 votes
3 answers
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Vulnerability of Bitcoin Network

Hi all I was wondering if I am doin a wrong assumption here: Let's assume a dezentralized peer to peer network and the bitcoin protocol. If a full node changes a transaction within a block and then ...
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After last bitcoin is mined, can miner(s) with nefarious reasons kill bitcoin by holding fees thereby deflating Bitcoin eventually to zero?

Just hypothetically speaking, once there is no more rewards and we transition entirely into transaction fee regime, if a miner (or group of miners) with unlimited supply of electricity, computing ...
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7 votes
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What wallets are affected by the NPM package vulnerability?

Recently, a vulnerability was found in an open-source project used by some bitcoin wallet software (such as CoPay and BitPay). Are there any other wallets known to be affected by this vulnerability? ...
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How does the most recently found critical vulnerability (CVE-2018-17144) work?

If you were a miner, what are the steps you would take to create the extra (21,000,012.5th) bitcoin? Where in the source code is this exactly (link)? Why can't this be done by a non-miner? Also, ...
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5 votes
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How is the Leaf node weakness in Merkle Trees exploitable?

Recently a weakness in leaf nodes of merkle trees was disclosed and it is claimed that this issue is exploitable to trick SPV nodes. How does the weakness make SPV nodes vulnerable to attack? What ...
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4 votes
1 answer
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How do the JavaScript SecureRandom() vulnerabilities affect me?

A recent post on the Bitcoin-dev mailing list talks about multiple vulnerabilities in JavaScript SecureRandom() class. Apparently this class has been used in multiple cryptocurrency wallets that use ...
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What prevents a majority attack from undoing transactions of others?

From the Wiki: If the attacker has the majority of computer power, "the attacker can't reverse other people's transactions without their cooperation." I don't quite understand why this must be the ...
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The 21,000,000 BTC Limit Issue [duplicate]

I love the concept of Bitcoin, however I have noticed a few weaknesses to the system that not may folks talk about. One of the issues is the 21,000,000 limit. After "X" amount of time, a certain ...
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10 votes
1 answer
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What is the "1 RETURN" bug?

From Nathaniel Popper's “Digital Gold : Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money", this heavily edited (by me, for clarity) excerpt: “In late July Gavin ...
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2 answers
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transactions traffic jam possible?

or there is security from that?
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What will be happen if 21 million of bitcoins become the property of one?

Let's assume, that the day already came, when emission of bitcoins completed, and we have the 21 millions of bitcoins. Let's say it happen that all these Bitcoins at one moment became the property of ...
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How can address' hash160 be used to determine information for malicious purposes? (Ie reusing of the same address)

I've been playing around with Richard Kiss's Pycoin app which is clarifying how P2PK works. I see that the hash160 of the value: (0x04) (x-coordinate) (y-coordinate) (for an uncompressed Testnet ...
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13 votes
7 answers
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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 ...
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1 answer
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Why are broadcast checkpoints considered bad?

warren, a LiteCoin dev, said of Peercoin: Good Luck Removing PPC's Centralized Checkpoints Regarding PPC... these amount to empty obfuscating defensive excuses. Sure he wants to remove the broadcast ...
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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 ...
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5 votes
2 answers
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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 ...
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2 votes
1 answer
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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. ...
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2 answers
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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 ...
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Techniques or proposais to require transactions to be included in a block?

As it stands now, a miner (or mining pool) can discriminate any transaction for any reason if they are running a custom version of code. Suppose an evil and powerful mining pool decided to hash ...
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7 votes
2 answers
3k views

What are Ripple's weaknesses? [closed]

Bitcoin's vulnerabilities are well documented. Is there are similar document for Ripple?
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26 votes
6 answers
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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? ...
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5 votes
2 answers
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Can someone with an unlimited amount of money compromize the network?

I was reading this interesting discussion in the comments section on ZH where this guy was talking about how a single entity (think corrupt government and banksters) can throw money and processing ...
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2 answers
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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?
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4 answers
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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?"). ...
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1 answer
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Could mining calculations be used to crack private key? [duplicate]

Could mining calculations be used to crack private key, in addition to mining for checking against few million accounts with positive balances? If that possible, at the current mining rate (30TH/s) ...
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-2 votes
2 answers
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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 ...
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3 votes
2 answers
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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 ...
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57 votes
8 answers
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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 Moore'...
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5 votes
1 answer
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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 ...
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13 votes
8 answers
2k 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, ...
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14 votes
2 answers
1k 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 ...
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4 votes
1 answer
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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 ...
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3 votes
2 answers
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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 the ...
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2 votes
3 answers
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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 ...
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9 votes
2 answers
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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?
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11 votes
2 answers
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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 ...
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10 votes
1 answer
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Strange transaction (block 71036)

What happened to this transaction? Can someone explain it? http://blockexplorer.com/t/9eHTFRi3Qq
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42 votes
4 answers
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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 ...
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15 votes
1 answer
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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 ...
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9 votes
2 answers
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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 ...
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16 votes
2 answers
1k 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 ...
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12 votes
1 answer
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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 ...
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9 votes
2 answers
261 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 ...
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8 votes
3 answers
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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 ...
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57 votes
10 answers
9k views

What methods could a government use to shutdown Bitcoin?

Let's say that a government decided to shut down the Bitcoin network. What options would they have to achieve this? Would they need to convince other governments? All governments? Let's set as a ...
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21 votes
4 answers
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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?
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