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One would hope that an entity with enough capital invested in lawyers to draft an SEC filing would have to good sense to properly secure a Bitcoin wallet.
by clarkmoody 13y ago
One would hope that an entity with enough capital invested in lawyers to draft an SEC filing would have to good sense to properly secure a Bitcoin wallet.
- sneak 13y agoThe SEC filing claims that a 51% attack could somehow modify the source code. Obvious errors like that make it seem rushed. It can't be solved by just throwing money at the problem, either—it takes expertise, too. Nobody in the industry is taking (IMHO) adequate steps for protecting keys worth >$500k presently.
- Nursie 13y agoTheoretically I think the 51% attack basically allows you to control the direction of the blockchain. At that point you could make a slightly different client run on your 51% and do things like (for instance) change the BTC generation rates and cap. Most likely at that point the people running the remaining 49% would find a way to ignore you, or fork the blockchain though.
- 7Figures2Commas 13y agoOne would hope that an entity with enough capital invested in lawyers to draft an SEC filing would have the good sense to know where its clients money is at all times. Oh wait... http://www.forbes.com/sites/jakezamansky/2011/11/15/mf-global-where-did-the-money-go/ http://www.forbes.com/sites/jakezamansky/2011/11/15/mf-globa...