[silk] Bitcoin

[Alaric Snell-Pym]

On 05/18/11 07:40, Eugen Leitl wrote:
> ----- Forwarded message from lodewijk andri de la porte <lodewijkadlp at gmail.com> -----
>
> From: lodewijk andri de la porte <lodewijkadlp at gmail.com>
> Date: Wed, 18 May 2011 00:12:14 +0200
> To: Eugen Leitl <eugen at leitl.org>
> Cc: cypherpunks at al-qaeda.net, info at postbiota.org
> Subject: Re: [silk] Bitcoin
>
> It is possible for any current governmental agency to hijack the entire
> system, due to their access to supercomputer infrastructures and/or immense
> budgets. This will however become less and less possible while bitcoin
> continues to grow and is already a massive and technological challenge which
> I do not see any governmental institutions execute proper.

Yep. Should interference be detected, there is also scope to ban the big
supercomputers and then edit it out of history - given consensus that
this should be done.

> It is also strange to say these transactions are "untraceable". Nothing is
> less true. Governments have complete transcripts of all sent data (USA, GB
> and AUS have a neat little system for this set up, catch all emails too),
> and every transaction is signed by the money's owner, it needs to be
> processed. Sure one could create many different unique signatures (bitcoin
> adresses) but those could all be traced moving out of the house. It's just
> immensely more tedious to do than tracking, say, bank transactions and so
> many agencies will just not be technical enough to do this.

Yep. I've written about this, and many people have suggested that Tor is
a way around that: see
http://www.snell-pym.org.uk/archives/2011/05/12/bitcoin-security/

ABS

--
Alaric Snell-Pym
http://www.snell-pym.org.uk/alaric/

----- End forwarded message -----
-- 
Eugen* Leitl <a href="http://leitl.org">leitl</a> http://leitl.org
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