quinta-feira, julho 04, 2013

Hacking Bitcoin

I Tried Hacking Bitcoin And I Failed:
There have been some major thefts – the BitFloor grab at 24,000 BTC, the Linode cloud robbery at 46,703 BTC, even the single user-steal at 25,000BTC.

But BitCoin’s profoundly cool design allows one to track the thieves.

When $50K of BitCoins is stolen today, and is $500K of BitCoin five years from now, every last cent of that filthy lucre can be monitored with acute cryptographic precision until the end of time.

And indeed, as far as I’ve seen none of the stolen BitCoin have actually been spent in any way. There’s actually an entire ecosystem around BitCoin – web sites, “mining pools”, and the like – all of which would have to stamp their approval on a transaction involving the obviously stolen funds, none of which have seemingly been asked to.

And that’s interesting, because possession of stolen property is and will forever be a criminal offense, and nothing is more provably stolen than the cryptographic taint of a transaction with money from a stolen account.

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