Hackers discuss Bitcoin, Litecoin, Alternative Cryptocurrencies
Cryptocurrency technologies such as Bitcoin and Litecoin could be a double edged sword, warned a panel of hackers at the annual HackMiami 2013 Hackers Conference that took place last week in Miami Beach, FL. The panel concluded that the free market economic advantages of cryptocurrencies and the potential for transaction anonymity can be completely destroyed by improper use of the technology by the end user. Furthermore, increasing government regulation and recent law enforcement actions against electronic currencies indicates there is a possibility of increased scrutiny on all commodities that are deemed competitive with government backed fiat monetary systems.
The panel was moderated by Alexander Heid, president of HackMiami, and featured an array of white hat hackers and information security professionals, some of whom are operators of cryptocurrency mining operations and merchants that accept Bitcoin as a form of payment. The panel featured James Ball, treasurer of HackMiami, Travis Tolle, professional cryptographic hardware consultant, Chris Snyder, a network security specialist and operator of a mining pool server, and Bryce Case, also known as YTCracker, the famed nerdcore rapper who accepts Bitcoin in exchange for his music and donations to his forum, DigitalGangster.com.
