As messy as SegWit activation was, it is actually one of most decentralized ways to activate something. Miners didnt force it through, devs didnt either and niether did social media or node operators. Everyone sort of got a say.

As messy as SegWit activation was, it is actually one of most decentralized ways to activate something. Miners didnt force it through, devs didnt either and niether did social media or node operators. Everyone sort of got a say. submitted by /u/dellintelbitcoin
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Bitcoin – The Currency of the Internet

Federal regulators file fraud charges against three bitcoin operators

Following an already rough month for bitcoin, three U.S. virtual currency operators have been charged with fraud by the United States Commodity Futures Trading Commission (CFTC). The CFTC alleges that CabbageTech, Entrepreneurs Headquarters Ltd., and one unnamed bitcoin operator have …
Google Alert – bitcoin

Bitcoin's Future: While RBI Cautions, Bitcoin Wallet Operators Stay Upbeat

Amid a series of warnings issued by the Reserve Bank of India (RBI) and finance ministry against the growing interest in bitcoins, the cryptocurrency operators continue to stay upbeat about the bitcoin's future in India. There are several experts who called the bitcoin rally a 'bubble set to burst'. European …
Google Alert – bitcoin

Bitcoin.org Operators Aim to ‘Denounce’ Segwit2x Participants (news.bitcoin.com)

On October 6, 2017, the web portal Bitcoin.org announced it was “denouncing” the Segwit2x hard fork and companies involved with the project. The site plans to publish a banner on every page of the website explaining the “risks of using services” that are associated with the November 2MB fork and development team.
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Bitcoin

Why are people still not valuing node operators after the recent DynDNS DDoS attack?

People really seem to think that Bitcoin is almost untouchable at its current form, but it isn't. It is very hard to take down, but that is certainly possible. After the DynDNS DDoS attack, a massive DDoS attack on Bitcoin seems very possible and scary to me. I am not saying it is going to happen, I am not saying it will be easy to pull off, but given the amount of people that want Bitcoin to fail, it can potentially happen and it can be successful. I might be getting something wrong and if I am, please clarify and add links to your claims.

The network currently has about 5000-5500 active nodes, of which a certain percentage is of very high quality. To me, that's still very low give the adoption rate. Unfortunately, with the higher adoption of Bitcoin, less and less people are running full nodes due to the increasing costs, but also due to SPV.

If we assume that half of the nodes are of low-medium quality that could be easily taken down (no ddos protection or high speed connections etc) and an attacker decided to attack them, that would still create a lot of trouble to the network. It currently costs about 50$ or less in order to create a destructive DDoS attack for an hour. To attack 5500 nodes for an hour it would cost 275000$ . Let's say that due to the high quality of some nodes, the cost was much higher, like 1M$ . If each node had a value/cost of 500$ /month, then our current infrastructure is worth 2,750,000$ /m. Compared to our adversaries, that's nothing.

If Bitcoin doubled its value in the near future to 1500$ /coin, then someone could orchestrate an attack, open a massive short position and attack Bitcoin for hours. So an attack doesn't have to be just costly for the attacker. He couldn't just have potential gains by making people lose trust in Bitcoin, but he could also potentially have financial gains.

The reason I am saying all that, is because I want to urge people to run more full nodes and to make people that are pro blocksize HF, to understand that an increase in the blocksize could potentially hurt the people running those nodes. The people that run these nodes do it voluntarily and might get to a point where it doesn't make sense to run them anymore.

https://dyn.com/blog/dyn-statement-on-10212016-ddos-attack/

http://www.techrepublic.com/article/dyn-ddos-attack-5-takeaways-on-what-we-know-and-why-it-matters/

submitted by /u/shadowboyah
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Bitcoin

Why are people still not valuing node operators after the recent DynDNS DDoS attack? (reddit.com)

People really seem to think that Bitcoin is almost untouchable at its current form, but it isn’t. It is very hard to take down, but that is certainly possible. After the DynDNS DDoS attack, a massive DDoS attack on Bitcoin seems very possible and scary to me. I am not saying it is going to happen, I am not saying it will be easy to pull off, but given the amount of people that want Bitcoin to fail, it can potentially happen and it can be successful. I might be getting something wrong and if…

Bitcoin