This week I wanted to write about bitcoin. This concept of currency really intrigues me and there is obviously a lot of needed security when involved with using or mining bitcoin. If someone wanted to do computer crimes for income then bitcoin would be the way to start I would think. It seems that bitcoin is mainly used for stuff that’s not normally legal like ordering prescription drugs, hacking terrorist manuals, or some other black Internet market type of thing.
I found this article “(Adopt a Node) Project Aims to Bolster Bitcoin Network Security” here:
Very interesting article in how we need to track our bitcoin transactions but don have the resources to do so. Here’s how the article explains it: “Bitcoin nodes store a copy of the blockchain, a public history of all transactions that have ever occurred, and also serve to verify and relay these transactions across the network.”
People are joining together to help control the bitcoin blockchain and keep these transactions updated. I have read another article stating that we are coming out with more complex software to track these bitcoin transactions so therefore we may unravel computer crimes from the past in the future. After all, everywhere the BIT has moved there is a public transaction of it, just comes down to finding it. People may be able to track there lost bitcoin in the future and re-claim it. For instance they’re as a bitcoin wallet service that had thousands of clients and stored bitcoin addresses. All of a sudden the company disappeared and the bitcoins were gone. Nobody could do anything about it but there will be ways in the future to see where these BIT’s really went.