Is AI a danger for Cryptocurrencies and Bitcoin?

Nov 16, 2021

Security developers working closely with Bitcoin made an awkward public disclosure in September 2020. A few years earlier a bug was discovered in the Bitcoin blockchain in 2018.

If this code was discovered by evil villains it could corrupt the most famous cryptocurrency in the world. Known as the inflation bug, it allegedly allowed an attacker to overload one or more nodes of the Bitcoin blockchain with a wave of fake transactions.

A year earlier, in 2017, something strange happened on Facebook that made some people uncomfortable: engineers working on a project at Facebook’s Deep Test Center suddenly found that they had to hit the shutdown button to create their own enchanting new creation of artificial intelligence (AI), designed to communicate with themselves to grow in behavior and understanding.

The incident was clearly understated : Facebook had to deny that their new artificial intelligence program was trying to hide or hide its language from human hosts. The PR department confirmed that they easily and carelessly passed out due to a “lack of interest” in the event.

Although artificial intelligence is in its early stages, experts predict that cyberwarfare of the future may lead to countering AI – specifically “good” AI versus “bad” AI – viruses will be created outside the realm of artificial firewalls and capabilities to attack valuable online targets. Consequently, people will be forced to create good AI to protect corporate interests and the good of society.

So as we sit and watch the terminators battle each other, we may wonder nervously if Bitcoin will be able to withstand a future attack from Skynet itself.

This self-governing system or “proof of work” concept (PoW) is a defensive measure against any possibility of a node trying to change an entry or “objective truth” in the Bitcoin blockchain ledger, as all other nodes (majority) will disagree.

However, a blockchain design – once considered impossible to hack due to its decentralized nature – has been the target of successful cyber attacks. An anonymous author, having discovered a flaw in the classic Ethereum blockchain, tricked the nodes into believing that they had 51% of the controlling stake and proceeded to duplicate transactions using a tactic called “double spending” – this is when an attacker, having rewritten the ledger, gets the power to conduct the same crypto transaction over and over again from thin

This makes it extremely difficult to get 51% of the votes to achieve attack. To attack, you must first rent a sufficient amount of computer power at a cost of about $ 250,000 per hour. If you somehow manage to achieve this and take control of most of the Bitcoin nodes within a certain period of time the benefits will still outweigh the costs because your bitcoin key was traceable after the attack and any coins in your possession were removed from a very unfortunate majority of nodes.

While security concerns still focus on a potential 51% attack, the biggest threat to Bitcoin could not come from someone trying to steal it (or something), rather it looks like Christopher Nolan’s Dark Knight Batman is targeting his arch rival the Joker.

They can’t be bought, mistreated, argued or negotiated with. Some men just want the world burn away.

In other words: stealing Bitcoin is difficult; destroying it might be easier (and maybe more fun). The history of Skynet, illustrated in the Terminator film series, represents a unique charm that humans have possessed for over 100 years since fears of the growth of machines first surfaced (see 20 Riegel comedy).

To put it simply, take a case, for example, that in the future you will customize the AI to help you find materials and use manufacturing equipment to make candles. Create artificial intelligence focused on reducing costs and improving the way you make candles to maximize production. However, you accidentally forget to plan some important human limits and ethical considerations before you start your creation, to attain more resources and manufacturing equipment for candle making.

However, he soon becomes uncontrollable in his quest for candles, taking resources and attacking anything or anyone in his path to maximize candle production, including those trying to extinguish them. While this is silly, the principle that experts fear remains the same – AI Rouge with a given arbitrary target (even at first seemingly innocent) can stop with nothing and produce as many candles as possible, including those trying to extinguish them.

This is an important consideration for any digital currency, bitcoin, cryptocurrency or other that remains a dependent exchange form for the future human race. It may not take long to figure out if evil AI actually gets smart enough to hit Bitcoin’s weakest spots or find other unknown bugs causing enough glitches for users to lose trust and give up trust in its exchange. Some of you may call this “good” artificial intelligence.

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