Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Comments
Bitcoin Thefts Surge, DDoS Hackers Take Millions
Newest First  |  Oldest First  |  Threaded View
<<   <   Page 2 / 3   >   >>
Joe Stanganelli
50%
50%
Joe Stanganelli,
User Rank: Ninja
11/27/2013 | 9:50:38 PM
Re: Technical chops needed on both sides of currency
@cbabcock: Reminds me of a saying my dad has: "It's easy to make the money; the hard part is keeping it."

In Bitcoin's case, that seems to be literally true.
Joe Stanganelli
100%
0%
Joe Stanganelli,
User Rank: Ninja
11/27/2013 | 9:49:27 PM
Re: Virtual Highway Robbery
Actually, the US dollar isn't really backed by anything other than trust and faith.  (This is why some people want to return to a gold or silver standard.)  It's earned a lot more trust and faith than Bitcoin has, but the value of the US dollar can (and, sometimes, does) easily plummet.

I remember when we Americans used to joke about the value of Canadian dollars because they were worth so much less.  Now we are eating crow.
Joe Stanganelli
50%
50%
Joe Stanganelli,
User Rank: Ninja
11/27/2013 | 9:46:32 PM
Bitcoin Banking
It is absolutely ridiculous to me that people would entrust their wealth to these companies without any meaningful vetting, security, insurance, qualifications, etc..

I mean, I get that the whole movement behind Bitcoin is to have a decentralized anti-establishment monetary system, but this is the reason why other monetary systems are "establishment."

Until digital currency has a real, trustworthy, effective banking system, this is going to continue to happen, and Bitcoin and its brethren will continue to be fringe monies.
Brian.Dean
75%
25%
Brian.Dean,
User Rank: Apprentice
11/27/2013 | 5:23:29 PM
Re: Virtual Highway Robbery
Bitcoin is too small, it has $5 billion of bubble wealth however, and the dollar is backed by $15.5 trillion of real wealth, not mentioning all the foreign economies that treat the dollar as gold. If bitcoin ever gets $15+ trillion of wealth under its name, I guess we could call it primetime.
Shane M. O'Neill
100%
0%
Shane M. O'Neill,
User Rank: Apprentice
11/27/2013 | 4:43:24 PM
Re: Virtual Highway Robbery
Bitcoin's volatility and insecurity are big turn offs. I'll stick with the dollar. When, if ever, will bitcoin be ready for primetime?
Brian.Dean
100%
0%
Brian.Dean,
User Rank: Apprentice
11/27/2013 | 4:29:14 PM
Re: Virtual Highway Robbery
Agreed, governments or the population of the world should be controlling money. Bitcoin is not safe because its value is speculative, never mind organized crime getting to wallets, what happens if they reach the blockchain? And never mind personal computers needlessly solving algorithms to mint new money, what happens if a large Big data Cloud deployment decides to quit real business and gets into the mint business?

Some benefits are there in developing economies to rely on bitcoin, if bitcoin gains mass, bitcoin can be used to safeguard from inflation, having said that, first technology would have to be available throughout the economy.

Basically, I like the old paper form, at least that way I will be able to use it as fire fuel, or maybe we can go back to the barter system.
ChawChaw
50%
50%
ChawChaw,
User Rank: Apprentice
11/27/2013 | 4:05:55 PM
Bitcoin is bad
The author mentions MtGox as a source for the valuation of a Bitcoin, but fails to mention that in 2011 MtGox was hacked and Email addresses and un-encrypted passwords were posted on the net.

Bitcoins compete with the dollar. Why would any American want more competition in their lives?
cbabcock
50%
50%
cbabcock,
User Rank: Apprentice
11/27/2013 | 3:59:55 PM
Technical chops needed on both sides of currency
BitCoin had the technical chops to generate a credible currency. But BitCoin vaults and wallets haven't had the technical chops to store it safely. A rapid gain in value lead to too many  rapid and successful cyber assaults 
David F. Carr
100%
0%
David F. Carr,
User Rank: Strategist
11/27/2013 | 3:36:38 PM
Re: Virtual Highway Robbery
This is why I'm sticking with Monopoly money as my currency of choice.
Tom Murphy
100%
0%
Tom Murphy,
User Rank: Apprentice
11/27/2013 | 2:54:44 PM
Re: Virtual Highway Robbery
Off-the-wall ideas are the seeds of innovation, but Bitcoin is just the kind of project that really should die an early death for many, many reasons. I'll cite three: 1) crime. (Read the article. As Bitcoin grows, crime problems will grow exponentially.) 2) Valuation. Do you really want to accept a currency that might be worth $800 today and $3 tomorrow? You might as well accept Cabbage Patch Dolls as currency.  3) Government. We (and I'm speaking for almost the entire human race here) actually want governments to control currencies instead of some enterprise. It's one of the main reasons we HAVE governments.

I say: Render unto Caesar what is Caesar's, and that includes coin of the realm.
<<   <   Page 2 / 3   >   >>


Navigating Security in the Cloud
Diya Jolly, Chief Product Officer, Okta,  12/4/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: "The security team seem to be taking SiegeWare seriously" 
Current Issue
Navigating the Deluge of Security Data
In this Tech Digest, Dark Reading shares the experiences of some top security practitioners as they navigate volumes of security data. We examine some examples of how enterprises can cull this data to find the clues they need.
Flash Poll
Rethinking Enterprise Data Defense
Rethinking Enterprise Data Defense
Frustrated with recurring intrusions and breaches, cybersecurity professionals are questioning some of the industrys conventional wisdom. Heres a look at what theyre thinking about.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2012-1114
PUBLISHED: 2019-12-05
A Cross-Site Scripting (XSS) vulnerability exists in LDAP Account Manager (LAM) Pro 3.6 in the filter parameter to cmd.php in an export and exporter_id action. and the filteruid parameter to list.php.
CVE-2012-1115
PUBLISHED: 2019-12-05
A Cross-Site Scripting (XSS) vulnerability exists in LDAP Account Manager (LAM) Pro 3.6 in the export, add_value_form, and dn parameters to cmd.php.
CVE-2012-1592
PUBLISHED: 2019-12-05
A local code execution issue exists in Apache Struts2 when processing malformed XSLT files, which could let a malicious user upload and execute arbitrary files.
CVE-2019-16770
PUBLISHED: 2019-12-05
A poorly-behaved client could use keepalive requests to monopolize Puma's reactor and create a denial of service attack. If more keepalive connections to Puma are opened than there are threads available, additional connections will wait permanently if the attacker sends requests frequently enough.
CVE-2019-19609
PUBLISHED: 2019-12-05
The Strapi framework before 3.0.0-beta.17.8 is vulnerable to Remote Code Execution in the Install and Uninstall Plugin components of the Admin panel, because it does not sanitize the plugin name, and attackers can inject arbitrary shell commands to be executed by the execa function.