

Bitcoin Attacked, Fees Up 25x, Peaks of 200TPS: A Post-Mortem - FlailFast
https://medium.com/blockcypher-blog/a-bitcoin-spam-attack-post-mortem-s-la-ying-alive-654e914edcf4

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michaeldunworth
Interesting fact // It would cost ~$2.5M annually to flood the network and
make it barely usable. That is petrifying to think about how easily crushed it
could be. Forgetting about banks and regulation squandering it's growth, this
can be done by any corporation with a hunch. Core developers are under a lot
of pressure, but with any new tech evolving, panic is not the best way to
create decisions.

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CatheryneN
"Bitcoin solved the Byzantine Generals problem, but it hasn’t solved the
Byzantine Core Developers problem."

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ghall
Great article.

Given this spam attack, do you think it's a realistic goal for BTC to displace
traditional payment networks. Visa routinely handles 2000 TPS. At this volume,
wouldn't miner fees =~ cc fees?

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FlailFast
Thanks! I do, but there needs to be some evolution for the protocol to adapt
while still maintaining relatively low fees. Not sure if it'll be Lightning
Network, bigger blocks, and/or IBLTs, but I know what it won't be: bitcoin-
core 0.11, as it exists today.

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theseatoms
"$4,536 a day buys you a Bitcoin denial of service attack."

