/biz/ - Business & Finance

>>52517568
HOLY SHIT, BITFUCK IS GOING TO ZERO

So this allows stealing of BTC or DOSing the network?

>>52517568
>how come nobody noticed, even after a decade has passed?
because the core devs are feds?

Are you going to keep making threads until someone overreacts?

>>52517772
This is serious serious business, and should be considered a serious serious vulnerability.

>>52517568
go back

>>52517766
Always have been.

>>52517953
What's wrong with having an indian origin?
>>52517772
>>52517939
Furthermore, this exploit allows an attacker with only 4k USD to cause chain splits, shut down peers, and undo the privacy of any chain completely. The PoC should release any minute now and virtually all of crypto is gonna experience a crash, like never before.

I'm Ddosing your moms asshole

>>52517568
What the fuck is a bootstrap?

>>52517568
Bitcoin was never meaningfully decentralized.
The Nakamoto coefficient of a system is the number of entities required to be compromised in order to to compromise the system.
To calculate the Nakamoto coefficient of Bitcoin, one first needs to understand that Bitcoin is a Byzantine fault tolerant system, which Wikipedia defines thus:
>[A system] is Byzantine-fault-tolerant as long as the number of [compromised validators] is less than one third of the [validators]
Thus, we are require 1/3 of hashrate to compromise the blockchain.
According to btc.com, currently Foundry USA and AntPool are the biggest Bitcoin miners, constituting 25.95 % and 19.29 % of overall network hashrate respectively. Their combined hashrate exceeds the 33% threshold, so Bitcoin's Nakamoto number is currently 2.
A centralized system has a Nakamoto number of 1, so Bitcoin is only marginally more decentralized. For comparison, a system comprising several equally trusted entities is more meaningfully distributed than Bitcoin when that number of trusted entities is 7, since passing the third threshold of compromised entities requires compromising 3 entities, so its Nakamoto number is 3.
If 7 or more central banks decided to create a global digital currency that was issued and administered by the 7 banks, it would be more meaningfully decentralized than Bitcoin. That that number is so low is an indictment on Bitcoin which illustrates just how much it has monumentally failed to live up to Satoshi's vision.

NEEEEEEEEEEEEEEEEEEEERDS

Monero is done

https://twitter.com/chainrx/status/1594014100941586433

>>52520386
you get what you fucking deserve, XMRcucks.

>>52517772
"Higher ups" are ultra butthrut they can't get crypto to crash any further. You can figure out the rest.

>>52517568
>Monero will definitely go to zero
*YAWN*
Monero devs have already been making fun of the little guy:
https://libera.monerologs.net/monero-dev/20221119#c161372

His little PoC is a nothingburger.

>>52517568
Fuck off script kiddie nobody buys your larp, quit spamming /biz/ and go back to studying Python

>>52520863
Thank you for including that monero shill pic so we know not to take you nor "anything interesting" comment seriously.

>>52520963

You clearly have no idea what bootstrapping is or how it works. Just end yourself already you useless faggot.

>>52521079
t. brainlet

It's clearly not an attack on bootstrapping, it's an attack on anchor nodes as this >>52520386 tweet would imply, you don't know how P2P network works, and probabilistically, you can sinkhole a P2P network. No one realized it was this easy with Monero. Whatever that twitterfag is doing he might have a point.

>>52521138
>you don't know how P2P network works, and probabilistically, you can sinkhole a P2P network.
*YAAAAAAAAAAAWWWWN*
https://libera.monerologs.net/monero-dev/20221119#c161363

>>52517772
it looks that way
>>52521138
you don't know how p2p networks work if you think this attack could work. This twitter retard is talking out of his asshole and likely spamming this board. Nothing is going to happen and he will look dumber and dumber over time.

>>52517568
>where the peerlist can be poisoned and all transaction privacy be undone
who is paying you retards?
there is no privacy on bitcoin anyways
>The original vulnerability was discovered in Monero
you mean the guy who made a fresh account to FUD?
seriously, who is paying you retards?

>>52518328
can you post the nakamoto number of other networks? i also think you got something wrong. every other source puts bitcoin’s nakamoto number in the 4 digits…

>>52523946
How about this source:
https://www.vanticatrading.com/post/what-is-the-nakamoto-coefficient
>For the system to be compromised, it is necessary to control more than 51% of the subsystem, which in this case is the mining power. According to the distribution of the graph, at least three mining pools must collude with each other to compromise the network, determining that the Nakamoto coefficient for Bitcoin is 4. In the case of Ethereum, this number is also three at the time of writing.
My calculation differs from this of course, but we agree on the order of magnitude of the number. Addressing those differences, they incorrectly use a 1/2 threshold, not a 1/3 threshold (Leemon Baird addresses this point at length in this lecture: https://youtu.be/IjQkag6VOo0?t=3668).). They also claim three miners need to collude then bizarrely claim the coefficient is 4, not 3. They also, again bizarrely, have a table further down contradicting the rest of the article, which ridiculously claims Bitcoin's Nakamoto coefficient is 7349. Also, be aware that the Nakamoto coefficient depends on the current hashrate of the largest mining pools, so it can go up and down.
I think the reason why a lot of articles claim a higher number is because they're written by Bitcoin maxis who are either using creative accounting or just lying to make Bitcoin look better.
Bitcoin was the only blockchain I was able to find a breakdown of hashrate by mining pool, https://btc.com/stats/pool, so I can't give exact numbers for any other blockchain, but I imagine the number is probably higher for Ethereum because it doesn't require specialist hardware to mine. Vitalik Buterin claimed the Nakamoto coefficient was 34 in this tweet: https://twitter.com/vitalikbuterin/status/1333738057162362880.. This seems reasonable to me, as does 3 as suggested by the vanticatrading article, though undoubtably the number has changed now Ethereum is proof of stake.

>>52524848
is there a list with networks and their correct makoto numbers?

>>52517766
Very funny to see the NSA get over on the FBI/glowoe faggots in the end.

>>52517587
Lord help us all with that photo. Poor woman.

>>52518328
you forget that a system operated by banks and not by anyone as it should is worthless and shouldn't qualify to even be compared to a properly decentralized network
also an insecure network is worthless even if it has a high score
so you're ignoring the quality of the peers and the security of the network
huge bs vibes from your message

>>52517568
This is not a vulnerability in monero. This is not a vulnerability in bitcoin. I swear this board is fucking retarded.