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Fake BTC

The document describes a hypothetical plan to take over the Bitcoin network by accumulating massive amounts of processing power to mine an alternative blockchain and override the official one. It would require setting up a private mining system, adding processing power far beyond what is currently used to secure Bitcoin, and submitting fake transactions before others notice. However, the plan has serious flaws and would be extremely difficult, if not impossible, to execute successfully.

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2K views3 pages

Fake BTC

The document describes a hypothetical plan to take over the Bitcoin network by accumulating massive amounts of processing power to mine an alternative blockchain and override the official one. It would require setting up a private mining system, adding processing power far beyond what is currently used to secure Bitcoin, and submitting fake transactions before others notice. However, the plan has serious flaws and would be extremely difficult, if not impossible, to execute successfully.

Uploaded by

mask.smile
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Jalal Asmani ------- Freebitco_official

1
Setup your own “legitimate” Bitcoin mining system. This is important. It has to
match the Bitcoin protocol EXACTLY, or every other Bitcoin miner and/or full client
will reject your transactions when your final move comes about.

2
Keep it off the internet until you’re ready to strike. This is so it isn’t
incorporating anyone else’s transactions—only yours

3
Start mining. Right from the first block, as if it’s 2009 and you’re the only one
mining. This is because you will literally need to rewrite the entirety of the
blockchain’s transaction history back until that moment.

4
Add processing power. The method we’re going to use to allow our fake transactions
is to supplant the blockchain with our own, falsified blockchain. But in order for
our blockchain to be accepted over the official one, we need to show that there is
more processing power devoted to ours than to the real chain. No big deal, right?
So, just add processing power.

5
Add more processing power. At one point, people were able to mine on their graphics
cards. That is no longer tenable, because as the amount of processing power on the
blockchain increases, the difficulty of the math used to protect the chain
increases. So nowadays, the math is so difficult that trying to mine with a
graphics card is pretty much a joke. So keep adding processing power until you
reach the point where it takes a graphics card to mine on your alternative, hidden,
falsified blockchain. And then add more to take it past that point.

6
Add MORE processing power. Keep adding it. Yes, this will start to incur outrageous
power costs. Yes, you will need to hire people simply to manage your mining
hardware, and to keep it from overheating. You might want to consider moving to the
Arctic Circle, or maybe Antarctica if you can get power down there. You may start
having network or data-storage issues. Just keep telling yourself that it’s worth
it.

7
Add MORE processing power. This is the final push. The total processing power of
the Bitcoin network, as of mid-July 2020, was about 126 million TH/s. That “TH/s”
means terahashes per second. A terahash is one million megahashes, and a megahash
is roughly a million single hashes. So we’re talking enough processing power to
compute 126 EXAhashes per second; 126 million million million hashes. Each second.
And requiring something on the order of 120+ gigawatts of power per second to run.
Borrowing the math from Ted Suzman’s answer (Ted Suzman's answer to How do you
convert m flop/s to hash/s?), that’s roughly 1.6 million million PetaFLOPS. (For
comparison, in 2017 the most powerful supercomputer on Earth, the “Sunway
TaihuLight,” maxed out at 125 PetaFLOPS.) Oh, and remember, you don’t need to just
MEET this amount of computing power… you need to be able to BEAT it, and for a
sustained duration.

8
Add MORE processing power. This is the final push. The total processing power of
the Bitcoin network, as of mid-July 2020, was about 126 million TH/s. That “TH/s”
means terahashes per second. A terahash is one million megahashes, and a megahash
is roughly a million single hashes. So we’re talking enough processing power to
compute 126 EXAhashes per second; 126 million million million hashes. Each second.
And requiring something on the order of 120+ gigawatts of power per second to run.
Borrowing the math from Ted Suzman’s answer (Ted Suzman's answer to How do you
convert m flop/s to hash/s?), that’s roughly 1.6 million million PetaFLOPS. (For
comparison, in 2017 the most powerful supercomputer on Earth, the “Sunway
TaihuLight,” maxed out at 125 PetaFLOPS.) Oh, and remember, you don’t need to just
MEET this amount of computing power… you need to be able to BEAT it, and for a
sustained duration.

9
Finally! Time to strike! Now that you’ve produced a fake blockchain that’s at least
a good what, week or so ahead of the current blockchain in terms of accumulated
work, you can finally open your massive mining cluster to the internet!
Immediately, everyone will notice that the mining power of the network has MORE
than doubled. Full clients across the world are suddenly going back to 2009 to re-
process the blockchain, since they’ve decided the one they’ve been working on, the
weaker one, is obviously fake, and that YOURS must be the legitimate one.
Transactions everywhere stall. But that’s all right… you just need your one target,
the one person you were wanting to fool with that fake transaction, to not notice
for just long enough. So you keep the miner running just a bit longer….

10
Submit your “fake” transaction. Since you’re the one who has designed this fake
blockchain, you’ve obviously made it so that your bitcoin wallets have as much
money in them as you want. So you can take one that’s full of coin, and send off a
now-legitimate transaction to the target address of your choice… for example, the
receiving address Newegg sent you for that $3000 computer purchase (which you had
them do right before you set your hyper-miner onto the network, of course.)

11
Finally, profit! Newegg verifies the transaction is legitimate (or rather, Bitpay
does it on their behalf,) and they announce: “payment confirmed!” With next-day air
shipping, you’ll have your new system soon. Breathing a sigh of relief, you can
FINALLY shut down your miners. You can stop paying the people who’ve been managing
the hardware. You can disconnect from that hydroelectric dam you had to tap into to
power all this. And you can move back home from the Arctic Circle. And hey, you’ve
got a bunch of mining equipment you can sell to recoup some of your costs (don’t
worry, no one will find your sudden sale of billions of dollars of mining gear on
eBay to be suspicious!) And just in time, too… people worldwide had already started
to notice something was up, and were throwing extra processing power online,
dedicated to backing the original blockchain. Old equipment, new equipment,
graphics cards, even laptops and browser pages were being repurposed to thwart your
takeover, and the opposition was just about to surpass your processing power. No
worries, you’ve sent your fake transaction; you can laugh at them as you exit the
game now, having already won.

12
Now that your caper is over, and you’ve successfully sent off your fake transaction
—one that will eventually be reverted, but not before Newegg sent your order—you’ve
probably smugly started to review your actions, and a nagging thought has entered
your mind. After all, you did all that work… for a single transaction. But… you had
more processing power than everyone else on the network combined, even if only for
a while. With effort, you could have maintained, what, a good 10–25% indefinitely?
And with that, just by playing by the rules, you’d ALREADY have had the power to
generate your own legitimate bitcoin.
....

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