[ExI] Bitcoin flaw

[Mirco Romanato]

Il 05/11/2013 00:31, Kelly Anderson ha scritto:
> On Mon, Nov 4, 2013 at 11:35 AM, John Clark <johnkclark at gmail.com
> <mailto:johnkclark at gmail.com>> wrote:
> 
>     http://mashable.com/2013/11/04/bitcoin-cornell-researchers/
> 
> 
> Basic story is that if you or your group controls a large enough
> collection of the bitcoining hardware, you can benefit by NOT publishing
> found blocks early. That is a very interesting "hole" but one that would
> be quite difficult to exploit, in that you would have to have control of
> a VERY significant set of computation. They also have a pretty easy fix,
> which should be straightforward to implement.
> 
> I don't see this exploit as being damaging to the long term perception
> of Bitcoins.
> 
> It is interesting that the natural curve has caught up to the last
> bubble... though the curve does look just a little steepish at the moment.

It is steepish only if you look at it with a linear chart.

http://www.bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zcvzl

The problem is the wide oscillation band is pretty large (now I would
roughly say 100-1000 now), so it is easy to be confounded.

The chart, IMHO, point to a 300-500$/BTC by year end with no major
catastrophes. Any Cyprus, Lehman and likes and it could easily shot to
the higher side of the band in days.

Mirco