I was reading this article: https://www.coindesk.com/all-of-it-dark-all-of-it-p2p-after-the-binance-hack-bitcoin-doesnt-cut-it?utm_source=hodler And it got me thinking, again, whether ASIC mining, or mining using specialized hardware in general versus miming with generally available hardware is good for a currency. I would like to hear your opinions, whether you are miners with skin in this, or just a users or developers. Is ASIC mining protecting us from a bad actor taking over given that usually the same hardware can mine other currencies as well? In other words what is stopping a bad actor from buying ASICs to attack a chain and then switch back to mining another currency with them? Would it be harder for someone to attack a currency if it was practically impossible to make ASICs for that currency? It seems that one hand it would be even easier since a CPU can mine ALL currencies that are not ASIC minable, while an ASIC can only mine a subset of ASIC minable currencies. Do you think that if Bitcoin was ASIC resistant, there would be less or the same centralization in mining power? (Or more?) What would happen if, say, BCH decided to switch to a different mining algo (either ASIC resistant or not) in order to stop theoretically possible attacks by BTC miners? On one hand people might rush to mine BCH while they still can with their ASICs, on the other hand if they don't expect a price rise, why would they bother? In fact if they believe that this move would make the currency less secure, the price will fall anyhow. But will it make it less secure? What if the switch to an different algo was done gradually, accepting both algorithms for a time with different difficulties each with ratios that will evolve in a predefined way so that the expected number of blocks for each algo will gradually and slowlly (over the course of 5 years for example) change from "all blocks are ASIC mined" to "all blocks are CPU mined". Do you predict any interesting dynamics that would form if such an experiment was attempted? What if the end state was not to switch completelly to CPU mining but to stay at a 50-50 ratio of ASIC and CPU mining? Sorry for wall of text, I just thought it could make for interesting discussion.
"Binance this time decided not to make the deal with miners. And as time goes on, the attack becomes harder. But all it took was a private phone call. The majority hashpower lies under control of a handful of men. They can collude and reverse the chain."
The bull market is just around the corner and it is only a matter of time before it is confirmed. The proof: even after the Binance hack, bitcoin is going steadily up! Now is the time to be buying! Be smart!
[ Bitcoin ] Multiple exchange Twitter pages have been compromised. Please do not send your funds to anyone. HACKED ACCOUNTS: - @cz_binance - @binance - @AngeloBTC - @Gemini - @coinbase
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@cz_binance: RT @iamjosephyoung: In September: -MicroStrategy announced purchase of $425m in Bitcoin -Sushi fiasco -JPMorgan admits to manipulating precious gold markets -UNI airdrop worth $3.6k at its peak -KuCoin hack -Bitcoin second-best 3rd quarterly close in history another busy month in crypto
Binance, one of the world’s largest cryptocurrency exchanges, said hackers withdrew 7,000 Bitcoins worth about $40 million via a single transaction in a “large scale security breach,” the ... While Binance is one of the largest crypto-currency exchanges, the heist is not the largest the Bitcoin world has seen. In 2014, Mt Gox was hacked to the tune of $470m. Good question! Binance itself isn’t clear on the scope of the breach. The bad news is, if your bitcoin was in Binance’s hot wallet, it now belongs to bad guys. The good news is that $40 ... Binance’s hack is a major setback for the exchange and for bitcoin, which has been beginning to come into its own. The bitcoin price was finally hitting a stride in 2019, and now the crypto market has been rocked by Binance’s largest security breach ever. The bitcoin exchange is in the middle of unveiling its decentralized exchange, and all eyes have been on Binance. CZ’s transparent and ... Binance traced the cryptocurrency theft — more than 7,000 bitcoins at the time of writing — to a single wallet after the hackers stole the contents of the company’s bitcoin hot wallet ... Hackers stole 7,000 bitcoin from major cryptocurrency exchange Binance, the platform said. They used a variety of methods to carry out the “large scale security breach," according to the exchange. Binance Hack bewegt Bitcoin und Altcoin Kurse. In der Zwischenzeit konnte diese Nachricht sich sogar auf dem gesamten Crypto-Markt bemerkbar machen. Der Bitcoin Kurs ist um ca. 3% gefallen. Das hat natürlich auch ein paar andere Altcoin Kurse etwas nach unten mitgezogen. Am schlimmsten hat es aber wohl den Binance Token selbst getroffen. Der BNB Kurs ist kurzzeitig um mehr als 10% gefallen ... Binance was massively hacked a few hours ago. Hackers stole 7,000 Bitcoin (BTC) from Binance. The stock market is the largest Bitcoin and Crypto Exchange in the world in terms of trading volume. Binance, a major cryptocurrency exchange, says hackers stole more than $40 million worth of bitcoin from its customers. Binance Hacked — Hackers Stole Over $40 Million Worth Of Bitcoin May 07, 2019 Mohit Kumar Binance, one of the largest cryptocurrency exchanges in the world, confirmed today that the company lost nearly $41 million in Bitcoin in what appears to be its largest hack to date.
Hackers Steal $40.7 Million in Bitcoin From Crypto Exchange Binance https://www.coindesk.com/hackers-steal-40-7-million-in-bitcoin-from-crypto-exchange-binan... Just announced, Binance was hacked today, 7000 BTC stolen, which is around $40 mil. Earlier today CZ tweeted: "Have to perform some unscheduled server maintenance that will impact deposits and ... This is how to hack crypto specifically binance through binance loan with the help of hack script developed by ScriptLord which hacks binance collateral syst... Heute geht's um folgende Themen: Binance gehackt – 7.000 Bitcoin (BTC) gestohlen, Sprott CEO Bullish bzgl. Blockchain gedecktem Gold & Bitmains Mining Power stark gesunken. Blockchain gedecktem ... Link a la noticia, Hacked Customer Data From World Leading Cryptocurrency Exchanges For Sale On The Dark Web?: ... Bitcoin manipulación — BINANCE — BITFINEX - 🤫🤫🤫 - Duration: 20:32 ... Binance considered rolling back the Bitcoin chain in order to recover stolen funds. How would that have happened? How likely is it that such a recovery method would be executed in the future? #Bitcoin #BTC #Crypto. Category Science & Technology; Show more Show less. Loading... Advertisement Autoplay When autoplay is enabled, a suggested video will automatically play next. Up next THIS ... Bitcoin Golden-Cross Binance Hack FUD Ripple wie Amazon? Chainlink löst DeFi Problem Tezos Rakete IOTA Sicherheits Update 🔐 Bitcoin & Crypto Wallet...