Quote from: Billy the Bit Miner on April 12, 2013, 05:09:07 AM

little history lesson for the uninformed Cool

On August 6 2010, a major vulnerability in the bitcoin protocol was found. Transactions weren't properly verified before they were included in the transaction log or "blockchain" which allowed for users to bypass bitcoin's economic restrictions and create an indefinite amount of bitcoins.

On August 15 2010, the major vulnerability was exploited. Over 184 billion bitcoins were generated in a transaction, and sent to two addresses on the network. Within hours, the transaction was spotted and erased from the transaction log after the bug was fixed and the network forked to an updated version of the bitcoin protocol. This was the only major security flaw found and exploited in bitcoin's history

In late-2011, the bitcoin price crashed from $30 to below $2 in what many would consider a "bubble". Some claimed the crash was due to a lower cost in producing bitcoins through cheaper computing power.

In march 2013 the bitcoin transaction log or "blockchain" temporarily forked into two independent logs with differing rules on how transactions could be accepted. The Mt.Gox bitcoin exchange briefly halted bitcoin deposits. Bitcoin prices briefly dipped by 23% to $37 as the event occurred before recovering to their previous level in the following hours, a price of approximately $48.

Fascinating. So the NSA could be able to break bitcoin?