Ninjastic
Search content
Sort by
Showing 13 of 13 results by Valen
Post
Topic
Board Bitcoin Discussion
Re: Worst threat to bitcoin
by
Valen
on 01/07/2011, 22:00:53 UTC
Quote from: andes on July 01, 2011, 09:57:53 PM
Quote from: peach on July 01, 2011, 09:56:20 PM
Bitcoin cannot be screwed with in such a way.

Of course it can.


i don't see how people don't discuss this more. it seems to be a fatal flaw in the whole system.


people talk about how the guy who wrote all this stuff solved all problems with it but he didn't.
Post
Topic
Board Bitcoin Discussion
Re: Worst threat to bitcoin
by
Valen
on 01/07/2011, 21:53:03 UTC
Quote from: andes on July 01, 2011, 09:43:05 PM
Quote from: Valen on July 01, 2011, 09:09:11 PM
obviously it would take a lot of effort/money that probably only a government could pull off.

Right now you dont need a government, only a couple of tens of millions of dollars.

To put that in perspective, only in the USA right now, there are 1 million people that have a net worth of more than 10 million dollars. If a handfull of those wanted to harm bitcoin, they could.

Also the supercomputer argument is a known fallacy. Its a catchy phrase but does not make bitcoin less vulnerable to brute hashing attacks for the moment. The supercomputer argument is debunked in the thread above.


right, i should have said either a government or a person/corporation with substantial funds could do it
Post
Topic
Board Bitcoin Discussion
Re: Worst threat to bitcoin
by
Valen
on 01/07/2011, 21:42:15 UTC
Quote from: andes on July 01, 2011, 09:39:12 PM
Already discussed here:

Bitcoin's kryptonite: The 51% attack
http://forum.bitcoin.org/index.php?topic=12435.0

And 50% is not a magical number, hashing is a probability issue. For an effective sustained attack, you would need a high percentage of hashing power though.


thanks, i'll start reading it
Post
Topic
Board Bitcoin Discussion
Re: Worst threat to bitcoin
by
Valen
on 01/07/2011, 21:38:55 UTC
Quote from: Serge on July 01, 2011, 09:16:41 PM
As far as we know there is no super-computer exists today that can play this game anymore.
I don't want to give false sense of security though. The risk exists. For any private entity who can beat network's hashing capacity it would be more profitable to mine instead of trying to corrupt the blockchain. Any pool close to or over 50% poses risk of being hacked for instance and screwing the system. Don't know what to say about authorities - would they want to screw with it in such a way instead of simply trying to outlaw it if they deem to do so.


outlawing it would have no effect. they would have to destroy it to stop it.


for an example of what i mean, look how effective outlawing drugs has been.
Post
Topic
Board Bitcoin Discussion
Re: Worst threat to bitcoin
by
Valen
on 01/07/2011, 21:33:25 UTC
you don't need a super computer

the power to do this can be purchased and set up. probably costing several million dollars but this amount is a joke to a government.
Post
Topic
Board Bitcoin Discussion
Worst threat to bitcoin
by
Valen
on 01/07/2011, 21:09:11 UTC
i have read that if someone has more than 50% of all the hashing power on the network they could essentially start screwing with the system and destroy it. if this is true i don't understand why smart people who know a lot about security such as steve gibson don't acknowledge or talk about this?


obviously it would take a lot of effort/money that probably only a government could pull off. but isn't it possible and if it is possible why don't people talk about it more as it seem to be the only real threat to bitcoin.




Post
Topic
Board Beginners & Help
Can i mix a 6950 with a 6970 in the same system without problems?
by
Valen
on 27/06/2011, 19:48:08 UTC
i already have a 6950 in this computer and want to put a 6970 in it too. would this cause the 6970 to run slower or what? or maybe crash?


the 6950 is a stock card that can't be unlocked. so it will have less shaders than the 6970.


i ask this because i heard it is best not to mix cards in the same system but these cards are very similar so may be ok?
Post
Topic
Board Beginners & Help
Re: Question about Mining
by
Valen
on 27/06/2011, 19:38:38 UTC
oh and i don't think there is a need to run the original bitcoin program but i leave it running in the notification area for now. it's set to auto hide so i don't have to look at it
Post
Topic
Board Beginners & Help
Re: Question about Mining
by
Valen
on 27/06/2011, 19:34:08 UTC
pretty much, if you have it up and running and everything.

it took me a little while to figure out how to "register new worker" and how that works but once i saw how that works it was really nice. i'm using slush's pool with the idea that it would have less downtime.


it seems there is a lot more to learn though, like setting up ways for it to get on backup pools automatically if one fails, and how to run multiple gpu/miners etc but i can take my time learning that part.
Post
Topic
Board Beginners & Help
Re: Real fast...humor me (am I doin this right)?
by
Valen
on 27/06/2011, 18:37:59 UTC
i think it gets around 700-800 mhash/sec
Post
Topic
Board Beginners & Help
Re: Question about Mining
by
Valen
on 27/06/2011, 18:35:17 UTC
good advice, i started out with GUI miner in that guide just yesterday. it seems the easiest way to get started
Post
Topic
Board Beginners & Help
Re: Video Card
by
Valen
on 27/06/2011, 18:32:44 UTC
since i bot online games i will get the more powerful 6970. knowing that i can later use it in another machine to bot with
Post
Topic
Board Beginners & Help
Re: Newbie restrictions
by
Valen
on 27/06/2011, 18:22:09 UTC
i agree, the restrictions are good, just have to deal with it