botnet

Bitcoin P2P e-cash paper

Internet expert John Levine dismisses Bitcoin's security assumption, arguing that botnet operators routinely control zombie farms of 100,000+ machines and that hashcash failed for the same reason — the bad guys have vastly more computational firepower than the good guys.

Bitcoin v0.1 released

Indiana University astrophysicist Jonathan Thornburg raises concerns about government regulation and botnet exploitation of Bitcoin, arguing that no major government would allow untraceable international transfers and that botnets could move $100K by having a million nodes each send 10 cents.