We live on a planet where new technology seems to be working against the vast majority of humans living on this planet, rather than helping us to live better. This is sometimes called “singularity”, and Tristan Harris, a former Google ethics guru has now joined a public crusade so that tech companies “stop exploiting our …
A web page shows that many crypto currencies lack protection against 51% attacks. For example to double spend in Dash, one needs to pay only 14K$ per hour. To double spend in bitcoin private, 1000$ will suffice. And course benefits of double spending can easily outweigh the costs. In addition some of the higher numbers are questionable. There …
After 1 month of acute crisis the bitcoin network is finally operating more or less normally. Imagine that you went to a station in rush hour and it took you 1 month to get home due tube or rail network jamming. This is exactly what happened to bitcoin in the last 2-3 months, and which is …
Continue reading ‘Bitcoin Network Recovery – $40 Billion Of Self-Inflicted Damage’ »
There is a considerable controversy around whether investing in a balanced basket of cryptocoins is a good idea. Two serious sources show that this sort of investment enjoys steady growth without a lot of downturns, cf. DLT10 Index and a recent detailed study which concentrates on a shorter period with excellent returns since Jan 2016 (cf. also …
Continue reading ‘Controversy Around Profitability of AltCoin Investment’ »
In a few minutes, cf. countdown, the amount of bitcoins attributed to each block mined will be divided by 2 in one single step. A rare event which happens once approximately every 4 years. This is an artificial shock which is tolerated by the bitcoin community in the name of misplaced ideology that whatever was decided …
Today the Economist publishes a picture of Craig Wright, who decided to confirm and embrace the claim that he is the mysterious creator of bitcoin, Satoshi Nakamoto. The picture and the paper portrays a sad man who is badly struggling “to convince the world that he is indeed who he claims to be”. He also …
I have worked for several years in bitcoin community. In May 2014 I have published a paper in which I formulated the theory of programmed self-destruction of crypto currency. Few points about this My conclusion was that many crypto currencies were genetically programmed or bound to self-destruct. This is absolutely certain. Not because they were …
Continue reading ‘On Forces of Self-Destruction in Bitcoin’ »
A so called Bitcoin Generator Tool v.2.9 have been released today (Sat 3 Oct 2015) and already 260 downloads within a few hours! It is a ZIP file which claims that it performs full access on the Bitcoin central SQL database and allows one to add bitcoins to his account. Needless to say there is no such …
Continue reading ‘Criminals Exploit Lack Of Knowledge of How Bitcoin Works’ »
The White House has appointed a well known crypto currency expert Ed Felten from Princeton University Computer Science department. This is a good sign, this means that an informed scientific debate, intellectual honesty and common sense have a chance to survive in the crypto currency world. I have started to doubt about it. Felten has many …
In a recent paper, Ittay Eyal from Cornell University takes the block withholding attacks to the next level. Very interesting work. We are going to decrypt and clarify a few things regarding this paper and how it relates to other previously published works (in particular our paper). The Invention of Block Withholding The danger of a block …
Continue reading ‘Block Withholding Attacks – Recent Research’ »