05 Nov '13, 4pm

This Is Why Bitcoin Is Fundamentally Broken

This Is Why Bitcoin Is Fundamentally Broken

This protocol works through a process called mining. In essence, the ledger is organized into a single, ordered sequence of blocks, each of which records a set of transactions. Each block contains a crypto-puzzle, a computationally difficult challenge akin to a CAPTCHA. Miners organize themselves into a loosely-organized, distributed network, and they all concurrently try to add a new block to the ledger. To do this, they need to discover the solution to a crypto-puzzle, formed by the contents of the ledger until the point where the new block is being added. Solving a crypto-puzzle is hard work; a computer has to plug in many different values and see if they solve the crypto-puzzle posed by the new block. The puzzles are such that a home computer working alone will take many years to solve a crypto-puzzle. Some people use GPUs to speed up this process, while others have in...

Full article: http://www.businessinsider.com/this-is-why-bitcoin-is-bro...

Tweets

Bitcoin Is Not Broken

Bitcoin Is Not Broken

forbes.com 06 Nov '13, 4pm

,’ said two researchers from Cornell University who released a paper to the press this week about a potential flaw in the ...

#Bitcoin is broken.

#Bitcoin is broken.

hackingdistributed.com 04 Nov '13, 5pm

The key idea behind Bitcoin's success is a decentralized protocol for maintaining a global ledger, called a blockchain. Th...

Researchers Say 'Bitcoin Is Broken' And Could Collapse

Researchers Say 'Bitcoin Is Broken' And Could C...

businessinsider.com 05 Nov '13, 1am

Emin Gün Sirer/Twitter See Also Meet The Woman HP Has Put In Charge Of Taking Down Its Big Rival: Cisco This Chef Taught ...

Bitcoin 'at risk' of network attack

Bitcoin 'at risk' of network attack

bbc.co.uk 05 Nov '13, 12pm

5 November 2013 Last updated at 12:21 GMT Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print B...

Bitcoin 'at risk' of network attack

Bitcoin 'at risk' of network attack

bbc.co.uk 05 Nov '13, 12pm

5 November 2013 Last updated at 12:21 GMT Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print B...

The Bitcoin Bubble

The Bitcoin Bubble

techcrunch.com 07 Nov '13, 1am

We’re back, baby! Bitcoin’s price has taken off again, forcing some to defend the value of the currency as utterly un-bubb...

@TheStalwart

businessinsider.com 06 Nov '13, 11pm

Bitcoin is back in the news, as the digital currency has surged to new all-time highs in recent weeks. A few weeks ago, it...

Selfish Mining: A 25% Attack Against the Bitcoin Network #bitcoin

Selfish Mining: A 25% Attack Against the Bitcoi...

bitcoinmagazine.com 04 Nov '13, 9am

One of Bitcoin’s core security guarantees is that, for an attacker to be able to successfully interfere with the Bitcoin n...

'Bitcoin is broken', researchers warn

telegraph.co.uk 06 Nov '13, 3pm

Typically, new Bitcoins are generated when groups of miners tackle complicated cryptographic puzzles. The first group to s...

Bitcoin (Probably) Isn't Broken

it.slashdot.org 09 Nov '13, 10pm

"In the wake of the publication of a new academic paper that says there is a fundamental flaw in the Bitcoin protocol that...

The Bitcoin Association of Australia

The Bitcoin Association of Australia

bitcoinmagazine.com 01 Nov '13, 8pm

The state of Bitcoin in Australia is strong. The local Bitcoin economy is the healthiest it has ever been. Its newly incor...

Bitcoin Is Going Totally Ballistic

Bitcoin Is Going Totally Ballistic

businessinsider.com 05 Nov '13, 12pm

A quick update on the ol' Bitcoin market. The price of a unit of the digital currency is going totally wild. It's now up a...

Bitcoin currency could be crashed by colluded attack, researchers claim

Bitcoin currency could be crashed by colluded a...

rt.com 06 Nov '13, 8pm

Bitcoin currency could be crashed by colluded attack, researchers claim Published time: November 06, 2013 20:24 Get short ...

Is This Why Bitcoin Is Surging?

zerohedge.com 06 Nov '13, 11pm

Really? What about tier 1 assets? What is collateral? Who controls bitcoin redemption? And my personal favorite: the gover...