Admittedly this IS exactly what I'm doing. Its in the OP. I"m asking for some brainstorming to take down bitcoin. Thats the point.
1) Construct an attack that greatly reduces the hash rate. I suggested DDoS all the miners simultaneously.
2) Use opportunity to make changes to the block chain (2x spend, whatever)
3)
?
4) Profit
You see, i am talking about a malicious attacker. One who wants to destroy Bitcoin and has a budget.
1) Construct an attack that greatly reduces the hash rate. I suggested DDoS all the miners simultaneously.
2) Use opportunity to make changes to the block chain (2x spend, whatever)
3)
?4) Profit
You see, i am talking about a malicious attacker. One who wants to destroy Bitcoin and has a budget.
The "brainstorming" is simple: stop adding any transactions to blocks once you have 51% of the hash power, and ignore any other validly mined blocks. If you can't even move BTC, it is effectively toast.
inane arguments as to why this is impossible: lol there aren't enough gpus, lol everyone would know when some government or bank bought lots of gpus, lol early adopters would lead the way and mine unprofitably for the first time in their lives even though they did not invest anything into gpu hardware, and the best one: lol nobody would do this it's more profitable to play nice
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As per FUD, ENOUGH accusing every one of doing something wrong when they question the system. Its becoming standard practice on message board to declare a post a FUD post as soon as the poster touches a nerve. No one has answered what happens if this attack were launched yet, we need to think about all this and thats the point of my post. Stop with the black helicopter stuff, i'm not some double agent. I'm just doing my due diligence before i commit more of MY money to BTC. Why is that so hard to get?
Well if they don't call you out for spreading FUD and try to marginalize your points, it would make it harder for newbies to throw cash into the bitcoin black hole.