-2 votes

$10,000 bet offered: Bitcoin will outperform gold, silver, USD, and US stocks over next 2 years

“Bitcoins will outperform the US Dollar, Gold, Silver, and the stock market by over 100 times over the next two years.”

http://longbets.org/611/

Any takers?

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I take no position on the future viability of bitcoin. I post the story because Bitcoin is interesting. Bitcoin is a digital token which is unique in that:

1) It can be securely verified to be a genuine Bitcoin. Better than current fiat currency, but obviously not as perfectly as a true physical substance such as gold or helium.
2) Once you sign it over to someone else, it's gone.
3) It is peer to peer, so as long as people can have their own computers Bitcoin cannot be centrally controlled.
4) The protocol itself, which is collectively enforced by the entire network of users, imposes a maximum of 21 million Bitcoins. Inflation is simply not possible.
5) If the only copy of a particular Bitcoin is lost, it can't be recovered. Delation is possible.

Unless you hack all of the devices that participate. And if you can do that then you can steal anyone's dollars, gold, stocks, etc.

The cryptosystems in use are old and well understood. The public key algorithms it is based on will be defeated by quantum computing. Who knows when they will be reality. When that happens it will be possible to use quantum techniques to replace today's public key systems, and bitcoin will work just fine. It is also likely that the quantum cryptosystems will be implemented before quantum computers capable of breaking 1024 bit RSA are invented.

I am not opposed to a defacto world currency, as long as it is voluntary.

I like gold and silver because the banksters and their buddies can't just create more of what I worked for on a whim.

It is a fact that Bitcoin actually does solve this problem as well. It is also a fact that Bitcoin is completely digital, and this can be sent in an email or copied on a USB stick.

Gold is harder to move. Say I want to give you 100oz of gold. The border guards will seize it from me if I don't announce to them that I have it. And if I tell them they're going to interrogate me hoping they can find some way to take it.

I certainly own more gold than bitcoins. I only have a few bitcoin in fact. As someone who's been interested in cryptography and cryptographic protocols I find bitcoin fascinating. It's the first digital system where data actually mimics ownership properties behavior of a physical object.

EDIT: All of my original text was typed up late at night as a comment reply. It was so long I just added it. I didn't even read it after I wrote it. Sorry for the terrible grammar!



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I'm Pretty Sure This Post Was Miscategorized

It belongs in the "Unsound Money" section. :)

egapele's picture

LOL! I have lots of coins

that are worth a "bit" - and federal reserve notes that are worth a "bit" too. :)

Mitt?

is that you betting again...?

I'm still convinced that the

I'm still convinced that the people running bitcoin are using peoples bitcoin mining hardware for hacking purposes.

For those unfamiliar, the system is setup so that people can mine for the sought after, limited supply of bitcoins, just like one can for gold in real life. "Miners" build these cheap computers (look up bitcoin mining), with top end expensive video cards. They use the GPU's in the video card to decrypt encrypted packets of information given to you by the bitcoin system.

People use GPU's (graphics possessing unit) to crack passwords and encrypted information all the time. Just look up GPU hacking and brute force hacking. GPU's can process information hundreds of times faster than regular CPU's.

Hardware is expensive, why not utilize other people's hardware? Maybe I'm missing something, but it sure seems genius if someone could pull off using thousands of computers around the world to create a decentralized super computing hacking network, that no government could take out without taking down the whole system.

I mean no offence here

But you are wrong.

You're right, GPUs enable parallel processing that's useful for brute force attacks against crypto.

But the rest of what you suggest is utterly non sequitur. It just makes no sense. In fact, it is the complete opposite of making sense.

If you want to run brute force attacks against encrypted data it would be utterly insane to waste your processing power on bitcoin.

That's just not true..

How can you act this idiotic when the ENTIRE CODE IS OPEN SOURCE? Do you even understand what that means? Here's a hint: It's completely transparent, so much so, that anyone can take it and change it as they wish.

Please, if you don't know anything about computer science in order to understand what you're talking about, just keep your embarrassingly idiotic layman beliefs to yourself.

The way I see it

..is bitcoins will either strike it huge (like the better is suggesting), or it will be banned before it's allowed to get too big. A money that can't be regulated by any small group of people or artificially inflated/deflated is one of the largest threats to the Fed and world central bank. I am highly leaning toward them being banned though. Especially with silk road being pretty much invincible to law enforcement intervention...but there will always be a new cryptocurrency...I can see them banning all forms of digital currency besides their own which will undoubtedly be implemented within the next few decades.

On a side note...I don't see why this thread is being down voted.

That's the exciting part

Banning bitcoins would be like an all out gun ban.
The only way to do it is regulate communications on the internet 100%.
It would get very interesting if they tried.

“I’m fully diversified. I’ve got some under the mattress, some under the floor boards, some in the backyard.”

You're right

There's nothing stopping anyone from creating their own instance of bitcoin. It's as if you could clone all of the fancy printers governments use to print currency with a few keystrokes, only you can't use your printers to counterfeit another currency.

Not so...

All packet stream content types have characteristic patterns that can be detected... even in encrypted streams. And bitcoin traffic is no different. Bitcoin packet streams can be detected and blocked. Especially at the ISP level. And the ISP's have volunteered to snoop on and identify the nature of packet streams in cooperation with CALEA.

CALEA software and hardware compliance allows the FBI and other law enforcement to snoop on, shape and block packet streams by many criteria.

Also, consider the US Govt's continued talk of an "internet driver's license" without which ALL of your packets will be rejected...

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~wobbles but doesn't fall down~

I mean no offense here

But what you are saying is utter nonsense from a technical point of view.

If the proper techniques are used, bitcoin traffic streams cannot be detected and blocked, even on a local network where the attacker can see all traffic between all hosts.

I can't say the same for voice traffic, but bitcoin traffic can be shielded against all forms of traffic analysis.

Bitcoin-Based Drug Market Silk Road Thriving w/ $2 Million/month

Bitcoin-Based Drug Market Silk Road Thriving With $2 Million In Monthly Sales

2012-08-07

http://news.slashdot.org/story/12/08/07/1910238/bitcoin-base...

"Every day or so of the last six months, Carnegie Mellon computer security professor Nicolas Christin has crawled and scraped Silk Road, the Tor- and Bitcoin-based underground online market for illegal drug sales. Now Christin has released a paper (PDF) on his findings, which show that the site's business is booming: its number of sellers, who offer everything from cocaine to ecstasy, has jumped from around 300 in February to more than 550. Its total sales now add up to around $1.9 million a month. And its operators generate more than $6,000 a day in commissions for themselves, compared with around $2,500 in February. Most surprising, perhaps, is that buyers rate the sellers on the site as relatively trustworthy, despite the fact that no real identities are used. Close to 98% of ratings on the site are positive."

Btw let me take this opportunity to also link this page where you can learn about and dispel the oh so many myths about Bitcoin and bitcoins: https://en.bitcoin.it/wiki/Myths

Aaaaaand it's gone!

Be prepared to dump your bitcoins and take profits as Congress directs the FBI to disconnect Silk Road from the internuts... :>

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~wobbles but doesn't fall down~

Silk Road is a hidden service on the darknet

It does not have a publicly accessible DNS record, and can only be accessed via the Tor network. Its actual server location is pretty safe behind seven or eight layers of proxy routing.

And...

you think the Govt can't access Tor? And that they can't access the CALEA functionality embedded into ALL network devices since at least 2004?

You think the FBI can't purchase drugs off of Silk Road and then swoop in with SWAT teams?

As a person with a degree in computer engineering and 18 years systems development experience I think you are naive and delusional. Digital systems are the most controllable form of communication in the universe...

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~wobbles but doesn't fall down~

In another comment you fail

In another comment you fail to understand the basics of traffic analysis. Bitcoin transactions can be performed independent of routing and latency constraints. You can encapsulate them in infinite layers of onion routing and they will still function.

The same can't be said of voice traffic.

Silk road is vulnerable because it needs to physically deliver product. The SWAT team can order product and then arrest the delivery boy. It can coerce the delivery boy to tell them where he got his package, and so on.

Tor is not the weak link here. Tor is amazing, but the price you pay is latency, which is death for some kinds of applications. Bitcoin is not one of them.

Just because you can access it

... doesn't mean you can trace it. And yes, just because it is very difficult to trace, does not mean it is impossible. There are weaknesses to the design, however they require extensive preparation, time and resources to exploit successfully. I don't know why you bring up CALEA since it has nothing to do with the encrypted text transmissions over the Tor network. Do your research.

I'm almost certain you misunderstand how Silk Road works. Silk Road itself doesn't sell anything. Like eBay it merely connects buyers and sellers. The FBI can buy all the drugs and illegal items it wants off Silk Road, but even if they managed to trace where the packages came from, they would only capture individual sellers, not anyone related to Silk Road itself.

In my experience, those who feel compelled to cite their educational credentials and experience as proof they know what they are talking about, usually don't. You seem pretty quick to flaunt them.

Bitcoin traffic...

can be detected and monitored at the node entrance and exit points. All packet content types can be detected by pattern.. even encrypted ones.

CALEA has nothing to do with the ISP's "volunteering" to deep-packet inspect ALL packet streams for content then render that content in a humanly understandable form? The internet has been abuzz with this in dozens of articles even in the mainstream. Do your research! :>

You said:

"I'm almost certain you misunderstand how Silk Road works. Silk Road itself doesn't sell anything."

What if the FBI sets up a shop on Silk Road and starts selling drugs? What if they do this for two years, keep notes, then bust 1,000 users in one sweep? If the FBI is selling drugs on Silk Road then they know what drugs you've purchased, with records, and they know your delivery address. The US Govt is the largest drug dealer in the world and they dislike competition immensely.

I'm fully aware that Tor is encrypted distributed p2p that poses many hindrances to monitoring. You seem to be implying that the Tor system is magically and forever unbreakable.

You said:

"In my experience, those who feel compelled to cite their educational credentials and experience as proof they know what they are talking about, usually don't. You seem pretty quick to flaunt them."

I have been debating bitcoins on DP for quite a while on several different bitcoin forum topics without mentioning them. You seem quick to make accusations without doing any homework. Search for "weebles bitcoin site:dailypaul.com".

What are your credentials? :)

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~wobbles but doesn't fall down~

> All packet content types

> All packet content types can be detected by pattern

That's bullshit. I'm calling you on it. The patterns that you can detect are only constant in latency sensitive applications.

You can detect my encrpyted voice traffic because I'm transmitting 50 packets per second that are all the same size. If I can delay and pad however I want to then your traffic analysis fails.

Tracking bitcoins is difficult when

Both the seller and buyer are anonymous, and users can change their node entrance and exit points at whim. You can bet sellers are doing this; why do you think they aren't?

Even if it's the case that your bitcoin traffic can be tracked, it must still be linked to a Silk Road transaction, and no matter how competent you believe the FBI is, the logistics and expense of doing so make it practically impossible. Have you ever been to the Silk Road? The dealers there are small potatoes; $10 here, $50 there. All small discrete packages. The biggest money launderers on the site only do so in blocks of a few hundred to a few thousand USD. You really think the FBI is going to commit many millions of dollars going after individuals? The RIAA and MPAA have already tried that in the recording and movie industries respectively and piracy is still exploding. The FBI may be incompetent, but they aren't stupid. They go after the big guys, the suppliers and importers.

Your idea about the FBI setting up a Silk Road shop to catch 1000s of buyers is ludicrous. For one thing, buyers get a rating based upon successful transactions, and if buyers don't get their product, the seller account is going to get a negative rating very quickly (probably after as few as two transactions), and no one will buy from them anymore. And for another thing, if the Feds actually DO send out drugs to get a positive rep and catch 1000s, it would be a scandal bigger than Fast and Furious. The FBI itself, selling drugs to build a rap sheet; it's untenable. It would be the same as the FBI hosting a child porn site with ACTUAL child porn in order to entrap paedophiles.

The main purpose of CALEA is for VoIP, and even if it did enable deep packet inspection of text think of the complications surrounding the monitoring of a network like Tor: a) the only reliable node to monitor is the user's entrance node. At any time the user can reset their connection and use a different path and exit node. Some clients are set up to do this automatically. Monitoring an entrance node means you've already been identified via other means; how else would they set up the tap? b) Tor traffic throughout the network is encrypted. Deep packet inspection of all such content isn't feasible, even if the FBI had access to thousands of the worlds fastest supercomputers. Quantum computers MAYBE. The issue being that Tor traffic isn't the only content that is encrypted on the internet. It looks just like any other encrypted traffic such as SSL, an encrypted proxy or encrypted P2P over normal networks. In any case, monitoring any of the central nodes is almost useless because the Tor network can reroute at whim; what you are monitoring at one moment, can bypass you the next. c) Monitoring an exit node means those doing the monitoring know where the exit node is, and that the traffic itself isn't double encrypted. HTTPS over the Tor network means the packets emerging from the exit node are still encrypted and avoid this exit node paranoia you seem to have. You really think that every (or even some) sellers who gain trusted status actually have their exit nodes monitored and the FBI is tracking every person who makes a transaction with them? I don't know, maybe there IS an agent under every bed, but if that's the case, they are spending a FORTUNE on what is right now a $2 million/month operation when the entire US illegal drug trade amounts to something like $33 Billion/month. We shall see how it plays out, eh?

My credentials are unimportant. The facts speak for themselves.

You said:

You said:

"Both the seller and buyer are anonymous"

The buyer is anonymous to the seller? How does the seller ship the package? (busted!)

You said:

"users can change their node entrance and exit points at whim"

Irrelevant. The packets can still be blocked if they have the bitcoin pattern. ISP's have been annointed the "Intellectual Property Police" which means they MUST inspect your packets. And they have fully developed traffic shaping capabilities. ISP's can detect and block bitcoin traffic. Old school.

You said:

"Your idea about the FBI setting up a Silk Road shop to catch 1000s of buyers is ludicrous. For one thing, buyers get a rating based upon successful transactions, and if buyers don't get their product."

I'm talking about the FBI shipping the drugs to the buyer. The US Govt ships drugs all over the world. The US is the world's largest drug dealer. They took it over from the Brits.

You said:

"Even if it's the case that your bitcoin traffic can be tracked, it must still be linked to a Silk Road transaction"

Why must it be linked to Silk Road? If they sold drugs to buyers repeatedly for months or year and then busted a few of them and then announced it then most of the buyers and sellers would run like scalded dogs. Silk Road would shrivel up and blow away on its own.

You said:

"if the Feds actually DO send out drugs to get a positive rep and catch 1000s, it would be a scandal bigger than Fast and Furious."

It is court record and testimony from US Govt operatives that the US Govt kicked off the crack cocaine epidemic by teaching them how to make it. Time after time in court records it is revealed that when DEA agents find the king pins of regional drug dealing all over the globe that is being run by US intelligence and operatives.

The US military openly admits that they are running the heroine trade out of Afghanistan because "if we didn't do it somebody else would".

None of them ever get in trouble...

You said:

"The main purpose of CALEA is for VoIP"

You have not researched CALEA legislation since 2003 and how it has been modified to include all components of internet traffic. Videos, images, sound files, etc can and are used to transmit information which are used by terrorists, they claim, to transmit terrorist activity related info.

"In the years since CALEA was passed it has been greatly expanded to include all VoIP and broadband internet traffic. From 2004 to 2007 there was a 62 percent growth in the number of wiretaps performed under CALEA -- and more than 3,000 percent growth in interception of internet data such as email."
http://en.wikipedia.org/wiki/Communications_Assistance_for_L...

"Subject/Target Traffic – All communications and IP data traffic, included data that is transmitted or received by the Subject/Target, that is transported by the Subject/Target Facility identified in the Lawful Authorization."

You are wrong. CALEA has included ALL IP data traffic for a while now. Yes, when CALEA first came about in the 1970's it was all about voice. No longer. CALEA requires ALL IP DATA TRAFFIC to be captured. If a suspect or target is watching a youtube or sharing a photo or posting on a forum or using bitcoins for transactions they want to know about it.

You said:

"Tor traffic throughout the network is encrypted. Deep packet inspection of all such content isn't feasible"

Dude, you really need to go read some books or google or something. :>

How do you think ISPs filter for viruses? It's called deep-packet inspection with pattern matching. And they've been doing this for a while.

Also, from wikipedia:

"In addition to using DPI to secure their internal networks, Internet service providers also apply this technology on the public networks provided to customers. Common uses of DPI by ISPs are lawful intercept, policy definition and enforcement, targeted advertising, quality of service, offering tiered services, and copyright enforcement."

"Service providers are required by almost all governments worldwide to enable lawful intercept capabilities. The acquisition component of this functionality may be provided in many ways, including DPI, DPI-enabled products that are "LI or CALEA-compliant" can be used - when directed by a court order - to access a user's datastream."
http://en.wikipedia.org/wiki/Deep_packet_inspection

All this is old school...

I'm done for now. I grow weary. Tackling each of your misconceptions and inaccuracies is tiresome. :p

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~wobbles but doesn't fall down~

Hmmm

Yes, both the buyer and the seller are anonymous TO the eavesdropper. Please, let's try having a serious debate. Interjections like "busted!" just show your goal here is one-upmanship rather than actually supporting your arguments.

The bitcoin pattern can be changed, just like the bitorrent pattern was changed, just like the video streaming pattern was changed, just like the persistent MMO connection pattern was changed. You underestimate the resilience of these systems, as if they could just be blocked and that would be the end of them.

I seriously doubt your claim that the FBI and the US government is sending illegal drugs via illicit transactions to willing buyers all over the world.

The FBI would never be able to announce such a thing. "We've been selling illegal drugs to buyers for months, and then once we had info on enough of them, we rounded them up." The FBI selling drugs to people online would be a huge scandal, I don't know how you are failing to see that. Not only is it ethically reprehensible, it is also arguably entrapment, and most, if not all, of those people would go free.

Your other claims that government operatives are running the drug trade are dubious at best. If crack cocaine was invented by the US government and it really is a matter of court record, then please add it to Wikipedia. Court records are very good sources. I'd also like to see these court records which show drug kingpins actually being US operatives.

The key here is that heroin is not a prohibited substance such a cocaine or marijuana. It is a regulated substance which has many medical uses. Unlike even marijuana, you can easily get forms of it with a prescription without fear. Sure, someone in Afghanistan needs to run the trade, that the US is doing it is a consequence of US foreign intervention in ALL aspects of life there.

No matter what you think about CALEA, there is no decryption aspect to it. As long as you encrypt your packets and make them look like something else, unless they already have a physical tap on your computer they have nothing more than a bunch of data they can't understand. Many bitorrent clients already offer this. A VoIP provider or service operator can ensure that all the packets they send are decryptable if necessary, but those in the grey market are under no obligation to comply. And if they don't reside in the US or elsewhere CALEA hardware is used, then all bets are completely off.

Deep packet inspection for blocking unencrypted viruses? Likely. ISPs blocking viruses at the encrypted packet level? Fairy tales.

DPI works when the content is NOT encrypted. More and more of it is, these days. I really don't know how many more times I need to repeat that before you understand it. Why do you think government enforces a limit to key length for encryption of secure connections? So that if they really really really want to get at something, they can, eventually. Decrypting the data on the fly of thousands of people interacting with one site is not currently possible with today's processing power. Not even close.

If you're done for now, I thank you. Your unbridled paranoia and overestimation of technical feasibility is most definitely wearying to me.

Care to provide some proof of your credentials?

Because I don't understand what kind of a computer science engineer would confuse Tor - a software - with a network device.

Do you even understand how Tor works?

And yes FBI can purchase drugs, so what? They can't follow the money and they can't trace the package. So what did that get them?

Not "computer science"...

Computer engineering. After, my first few years of designing communications and management systems for marine vessels I was offered a job in corporate IT developing client-server systems and application largely on UNIX and finished my career in that segment of the industry.

And I'm not confusing Tor with a network device. What does Tor traffic travel through? A network device. What characteristic do all network devices since 2004 contain? CALEA compliance. What is CALEA? CALEA is regulations that allow law enforcement to snoop on communications. In 2004 began the transition to cover internet comms and not just telephony.

For the internet CALEA requires that the ISP's deliver all content in a rendered form understandable by law enforcement. The ISP's have "volunteered" to fulfill this task.

With regards to understanding Tor, I know that Tor is encrypted distributed p2p. I also know that Tor has an established history of third parties gleaning ip's, the content of packet streams such as usernames, passwords, email addresses, etc. from entrance and exit points at the nodes. Governments and universities have been doing this kind of research and probing for years on Tor traffic.

I also know that deep-packet inspection can identity the nature of encrypted packets by pattern detection. Any type of traffic has characteristic patterns. Including bitcoin. This means bitcoin transactions can be traffic-shaped out of existence on a whim.

As far as your last comment, the FBI setting up its own Silk Road store combined with placing orders and the Tor weaknesses outlined above with regards to the node entrance and exit points combined with the cooperation of postal services combined with the ability of the Govt to detect and block bitcoin traffic I just don't see how this can be in any way be considered an impenetrable undefeatable secure system.

Are Silk Road users SURE they are not ordering their drugs from the FBI? The US Govt is the biggest drug dealer in the world and they dislike competition immensely.

As far as my credentials/resume, if you send me your name, physical address, active telephone # where i can contact you I *might* send it to you. You seem vindictive and petty and your usual first responses to discussions seems to be personal attacks. I'm not really into dealing with people like that and see no benefit to myself or anybody else.

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~wobbles but doesn't fall down~

You seem overly paranoid

About a small time operation like Silk Road.

Even if ISPs hand over information willingly to law enforcement, if the data is encrypted (such as via HTTPS), it does them little good unless they are willing to apply several supercomputers to the task for a number of months. Gleaning IPs usernames, passwords etc. becomes a non-issue when the initial message is already encrypted, the same as making sure your connections made from wi-fi hotspots are encrypted.

You give too much credit to packet shaping. It's been tried many times by many ISPs and it has only caused the affected applications to change, double-encrypt or randomise the format of their packets. You are mistaken to believe that the bitcoin system is that fragile.

For the FBI to run a successful Silk Road store, they would have to mail out real drugs, wait until they receive positive feedback (so they appear legit to other buyers), then capture the buyer. A buyer who maybe spent $50 on a baggie of weed, who may have smoked it all before leaving feedback, or might not leave feedback at all. How many man-hours would be spent waiting in that scenario, for a drug offence that may not even land the suspect any jail time? The FBI doesn't want to go after buyers, or sellers. They want to go after those running the Silk Road itself and so far you haven't given any indication as to how that would be accomplished.

Of course nothing is an "impenetrable undefeatable secure system", but for someone who says they have a degree in computer engineering, you are certainly giving the government a great deal of credit and casting doubt on the intelligent engineers actually designing these anonymous systems. It is indeed a battle, and unlike yourself, I'm not picking winners or losers just yet.

Dude...

You said:

"Even if ISPs hand over information willingly to law enforcement, if the data is encrypted"

You are not actually reading the content of my comments. I said encrypted bitcoin traffic can be detected as being bitcoin traffic and subsequently blocked. No need at all to decrypt the content. 1) detect bitcoin traffic 2) block it.

You said:

"You give too much credit to packet shaping. It's been tried many times by many ISPs and it has only caused the affected applications to change, double-encrypt or randomise the format of their packets."

Doubly encrypted packet streams content types have patterns too. It's not black magic for the FBI to doubly encrypt a bitcoin packet stream, notate the pattern, then search for it.

With regards to "randomise the format of the packets", please explain how the receiving bitcoin peer can interpret the packet content without knowing the format.

You said:

"For the FBI to run a successful Silk Road store, they would have to mail out real drugs."

You mean like how the police sell real drugs to criminals, sometimes over periods of months and years to make busts. Oh yes, highly unlikely. Never happens. Ever... :>

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~wobbles but doesn't fall down~

Dude

I could setup a network where you could view and choose to block or allow to pass any packet between any nodes, and I could *still* get bitcoin traffic past you unless you chose to degrade the entire network by dropping packets that you aren't sure are bitcoin or not.

And that's having complete and total omnipotence over the entire network. If you only have access to sniff part of the network then I wouldn't even have to try hard.

Tell me, what if I was sending or receiving bitcoins via SSH? Are you going to forbid all SSH traffic if you don't have the keys to decrypt it?

How are you going to detect the difference between my terminal sessions, my bulk file copies (scp) or my bitcoin purchases over SSH?

Yeah dude...

If they block bitcoin traffic due to traffic shaping, they had better have a good reason or else the backlash will be huge. In any case, just like many other protocols, they will just change the packet format, or make it look like something else.

Did you know I can send an encrypted packet which looks like a JPEG to a knowing client, which will then decrypt the contents into an entire packet containing a bitcoin reference? This is exactly how bitorrent encryption works. The packets now look like some other kind of content and data shapers risk blocking all kinds of innocent content if they attempt to wall it off.

This kind of "doubly encrypted packet" as you call it can be isolated and identified, but to do it on the fly as DPI systems are supposed to work is impossible with today's technology.

You said: "please explain how the receiving bitcoin peer can interpret the packet content without knowing the format"

"Hello, this is Bitcoin, if you find your transactions not working today, please update your wallets to the latest version. Thanks!" Really, you are pretty naive for a self-described computer engineer.

Please show me all these stories where cops are selling drugs to criminals in order to make busts. The way you tell it, it sounds like a veritable epidemic.

Kind of obvious they can't stop them..

You'd think after running for over a year with an ever increasing customer base even after a U.S. senator made threats and directed people to attack the site, rational people would understand that this site is pretty well protected behind Tor and it probably can't be "disconnected" as things stand right now.

But I guess some people just aren't capable of thinking rationally.. /rolleyes

Dude...

it is standard procedure for law enforcement to monitor organized criminal activity for extended periods of time, sometime years, before swooping in. Just because people think they are getting away with something doesn't mean the end is not near.

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~wobbles but doesn't fall down~