Ever since BitCoin appeared, I've been waiting for two security experts to venture detailed opinions on it: Dan Kaminsky and Ben Laurie. Dan has now weighed in, with a long, thoughtful piece on the merits and demerits of BitCoin as a currency and as a phenomenon.
Bitcoin’s fundamental principle of fraud management is one of denial. If we drop our wallet on the street, the U.S. government is not going to compensate us for our lost cash. Bitcoin attempts to make the same deal, to the point where it calls its stores of keys, “wallets.” If we drop our wallet on the street — heck, if someone picks it out of our pockets — the money’s gone.
There have been bitcoin thefts. A few years ago, I tried to break Bitcoin, and failed quite gloriously. The system and framework itself is preternaturally sound. But it too is built on the foundation of buggy technologies we call the internet, and so Bitcoin must experience failures from the code around it. Hackers don’t care whose code they broke on their way to bitcoin, any more than pickpockets care that they’re exploiting the manufacturer of one’s jeans or leather wallet. So they break the server below the money, or the web interface above it. They still win.
At least, that’s the theory. Reality is more complicated. Of all the millions of dollars of purloined bitcoin that’s floating around out there, not one Satoshi of it has been spent. That’s because while most other stolen property becomes relatively indistinguishable from its legitimate brethren, everybody knows the identity of this particular stolen wealth, and can track it until the end of time.
Bitcoin Is Not as Secure, Unregulated, or Lucrative as You Might Think
Amanda Rousseau’s self-learning materials for her Malware Unicorn workshop are a fantastic introduction to understanding and analyzing malware, covering the techniques used by malware authors, reverse-engineering tools, and three kinds of analysis: triage, static and dynamic.
Police who rely on vulnerabilities in crooks’ devices are terminally compromised; the best way to protect crime-victims is to publicize and repair defects in systems, but every time a hole is patched, the cops lose a tool they rely on the attack their own adversaries.
Software can be thought of as a system for encapsulating the expertise of skilled practitioners; translate the hard-won expertise of a machinist or a dental technician or a bookkeeper into code, and people with little expertise in those fields can recreate many of the feats of the greatest virtuosos, just by hitting Enter.
Thread count isn’t like one of those deceiving metrics like camera megapixels or Facebook friends—more threads are always better if you can afford them. If price was no object, we would all be snoozing soundly bundled up in 1.8 kilo-thread sheets every single night. Guess what? Price doesn’t have to be an object with this […]
Maybe it’s entirely because of podcast ads, but drag-and-drop tools like Squarespace have gotten immensely popular in recent years. While it’s definitely a great tool for any non-coders who want to get a small website up and running quickly, managing content with a primarily visual interface can become a pain once you have more than […]
When you can’t wait for the world’s longest meeting to end, the mindless leg bouncing makes your boredom obvious and just annoys everybody else. Everyone knows the TPS reports need the damn cover sheet, but some sadistic colleague keeps forgetting, probably on purpose just to eat into your lunch hour. Enough is enough!While serving a […]