Information on attacks
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[quote name=“erk” post=“13535” timestamp=“1371024496”]
Article on the attacks:http://www.thegenesisblock.com/the-51-attack-what-bitcoin-can-learn-from-alt-coin-experiments/
The author assumes the FTC confirmation time was 2.5 min, and it was really about 30min at the time of the attack, so he didn’t research it all that well.
[/quote]My response:
[quote]
zerodrama
June 13, 2013Bitcoin is not distributed. Not in holdings, not in influence, not in innovation, not even in decision making. The last democratic decision made was during their hard fork (which didn’t even add new features).
Also the author is incorrect about a few points:
The attackers are not encouraged by success, they are driven by whatever purist nonsense they believe in. A rollback would only drive legitimate miners out. Also, by virtue of the fact that the attacker hates the coin, when they get tired of attacking they will try to dump the coins. At that point they become the community’s coins as if they had been generated legitimately, so it’s all for nothing.Second, we were not at the 2.5 minute mark, we were at 30 minutes to an hour thanks to the fact that our hard fork added a new feature, as all hard forks should. We can handle stampedes and difficulty traps, unlike litecoin or bitcoin.
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[b]zerodrama[/b], well said. I doubt Bitcoin is going to learn anything from this anyway.
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Going through DDOS right now?
Site was down for a minute and daemon is down.
Edit: NVM
Probably due to upgrading to cloudflare
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That was me. The new IP address took a while to kick in for some reason!
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great info, thank you!
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[quote name=“Bushstar” post=“12898” timestamp=“1370944298”]
I saw another screenshot of a conversation with IsmailTM. In that one he said he was running the attacks on FTC and ultimately they would take down Litecoin and Bitcoin. He said he could do this because he is building and has arrays of Fusion ASICs running at 200KH a chip and that the budget for this project is $3.2 billion. Eventually they are going to send the send the Bitcoin difficulty up by a factor of ten.The most likely explanation is that this is complete rubbish :)
[/quote]Art of Trolling - How to Finish - [b]Method 32[/b] : Increase ridiculousness of statements as you become aware of the keen catching on, but not enough to clue in the less adept at given subject matter.
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100 confirmations on btc-e because of the attack.
Is the attack over? If yes why btc-e didnt decrease the confirmations? -
I dunno but I’m more than a little upset by it! :(
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the reason is that we can be under attack and it’s when they need to be ready. so it’s preventive of a new attack. they can’t detect the attack before they get potentially screwed so can’t adjust the confirm in real time so they stay safe.
we are in big danger when the hash rate is below 1.5Gh/s like yesterday. when we are mostly over 2.5Gh/s we are on the safer side as far as we know from previous attack. between 1.5 and 2.5Gh/s we are in danger zone, but the attacker has to coordinate a bit and some luck-bad luck can make the attack more or less difficult so can require very long attack to orphan the original chain or even fail.
if I was BTC-e I would not lower the confirm either unless FTC has a minimal legitimate 2Gh/s. we can’t guaranty that 2Gh/s at all time now so they need to stay in the safe side with high confirm number :-[
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We’ve had it well below 1GH/s yesterday before the last retarget. If someone attacked us at that moment, we retargeted faster and gained additional hash power from returning miners. As long as our profitability is comparable to LTC, there is no reason to worry about. We’re stabilising. The difficulty roller coaster is getting tolerable.
