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   CSB ≡ Comic Strip Blogger (csb@noauthority.social)'s status on Wednesday, 24-Apr-2024 00:18:09 JST CSB ≡ Comic Strip Blogger

   fun fact:

   Bitcoin could be killed yet by hackers:

   Ultimately, Bitcoin is based on a digital infrastructure, the blockchain. Theoretically, hackers could attack this and bring the system down with their attacks. Then it's questionable what will happen to all the money that investors have put into the cryptocurrency.

   ... but probably until new AI or quantum computing will arrive, Bitcoin's blockchain is too difficult to hack, right?

   • Embed this notice
     Pleroma-tan (kirby@lab.nyanide.com)'s status on Wednesday, 24-Apr-2024 00:18:08 JST Pleroma-tan

     in reply to
     @CSB nigga there are like 30 factors which prevents people from just spoofing their money, plus the entire network is fucking decentralized there is no 1 node which has all the information on the network
     
     inb4 I fell for bait
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     翠星石 (suiseiseki@freesoftwareextremist.com)'s status on Wednesday, 24-Apr-2024 00:36:04 JST 翠星石

     in reply to
     @CSB Hacking is playful cleverness; https://www.stallman.org/articles/on-hacking.html
     
     I'm not sure what those fancy quantum computers are meant to do to sha256.
     
     Even if someone was to make a computer that could pump out hashes exponentially faster than than current multiple tetrahash (TRILLIONS of hashes a second) ASIC's, the bitcoin network is designed to adjust the difficulty until blocks take roughly 10 minutes to pass.
     
     Assuming that nobody else gets these computers that that the party uses to mine all the blocks, that still won't allow them to steal bitcoin - only carry out 51% attacks, which allows for double spends, with the losing party realizing later that they weren't actually sent bitcoin when the longer chain gets announced and the shorter chain gets discarded.
     
     
     There are too many decentralized nodes for it to be feasible to take down the bitcoin network with DDoS attacks also.