We have collected four typical scams to remind you that Bitcoin is just cash, and you should take care to use it as real money: Carefully. Most frauds and scams don’t happen because of the technology involved but rather due to the underlying greed and callousness on the part of the users. There is something about Bitcoin that attracts all kinds of scam artists…
At the Black Hat 2014 conference in Las Vegas, Rob Ragan and Oscar Salazar, penetration testers from Bishop Fox, demonstrated a technique for cloud-based bitcoin mining that cost them exactly…nothing. At this moment, one bitcoin is worth $576.57. With a hefty exchange rate like that, bitcoin mining without the need to devote massive computing resources could…
Bitcoin is deflationary, meaning that mined coins are finite. Once miners unearth 21 million coins, that will be the total number of Bitcoins that will ever exist. But due to lost and forgotten wallets, active Bitcoins will be far lower than that. On the 30th March 2015, Bitcoin reached the total circulation amount of 14 million coins. There is now two thirds…
A federal lawsuit filed by investors of a US-based bitcoin mining operation is moving ahead after months of little movement. In mid-2014, investors in Lab Rat Data Processing alleged breach of contract, misrepresentation and fraud against the mining operation and its owner, Zachary Dailey. Bitcoin mining is an energy intensive process by which new transactions…
Courtesy itunes.apple.com Marco Streng is a miner, though he does not carry a pick around his base in south-western Iceland. Instead, he keeps tens of thousands of computers running 24 hours a day in fierce competition with others across the globe to earn bitcoins. In the world of the web-based digital currency, it is not central banks that add new money to the…
Bitcoin may be revolutionizing the way we understand money, but it hasn’t made everything obsolete – like books. Books remain a powerful resource for storing and transferring knowledge to the masses, and whether you prefer to consume them on crisp paper pages or through the soft glow of a tablet, we hope you find time to flip through these: . This book is an…
As GPU mining made CPU mining non-profitable, at some point in time more specialized mining hardwares (FPGA and ASIC) would make GPU mining non-profitable. When is GPU mining considered not-profitable? Considering $1 rig, $0.2 per kWh and one year break-even period, at which difficulty does GPU mining become non-profitable? Or, what is the formula to find out…
David Schwartz s answer is entirely accurate, but all that bitspeak might be a little intimidating to the average user. Let me try and put it into more plain language: The way Bitcoin works is that instead of having one central authority who secures and controls the money supply (like most governments do for their national currencies), this work is spread out…
The company, which currently controls 18.6 percent of the Bitcoin network’s hashpower, plans to build a highly efficient and powerful data center to increase its share of Bitcoin’s hashrate distribution and demonstrate the importance of utilizing renewable energy, such as solar energy, to operate its massive data center. “We have seen that most data centers in…
OXBTC ( – a China-based cryptocurrency investment platform lately unveiled its upgraded and expanded farms for Bitcoin/Litecoin/Ether cloud mining, which is about to beat all major miners and become the world’s largest one. Located in 3 different regions in China (Sichuan, Ordos and Inner Mongolia), OXBTC’s mining farms cover a total area of over 200 acres, running…
Carlye Calvin/UCAR According to the March IG report, the unnamed researcher used supercomputers at two different universities — although quite surprisingly — mined only a very small amount of around 12-16 bitcoins valued between $8, and $10, . The researcher said he was just conducting tests on the computers, the report said. The researcher asserted that he…
Many people wished they had not missed the Bitcoin mining bus before the great Bitcoin boom started back in 2013. Back then you could mine Bitcoins pretty easily at home and make a very nice profit on the exchange rate. However since then, the mining difficulty has increased immensely and today it is almost impossible to mine Bitcoin profitably at home with your…
Purpose To promote the free and open development of an FPGA based Bitcoin mining solution. Project Status Project is fully functional and allows mining of Bitcoins both in a Pool and Solo. It also supports Namecoins. Current Performance: 109 MHash/s On a Terasic DE2-115 Development Board Note: The included default configuration file, and source files, are built…
By Dancho Danchev Just as we anticipated in our previous analysis of a commercially available Bitcoin miner, cybercriminals continue “innovating” on this front by releasing more advanced and customizable invisible Bitcoin miners for fellow cybercriminals to take advantage of. In this post, we’ll profile yet another invisible Bitcoin miner, once again available…
Most recently they created the web portal BTC.com which is a block explorer and bitcoin statistics site. Their newest update marks the expansion of their company by acquiring Dutch startup Blocktrail. Blocktrail is a block explorer too with bitcoin wallet software that allows users to send, receive, and store bitcoins. The wallet is designed to be a web wallet…
Right now the entire web is all abuzz about Bitcoin – a digital currency you can use to buy things online, or trade for other currencies like dollars. But Bitcoin is a lot more than that and is actually a very well thought out system. Bitcoin was initially designed as a digital currency (“BTC”) to move outside any central bank, and to avoid the current rules…
Washington D.C., Dec. 1, 2015— The Securities and Exchange Commission today charged two Bitcoin mining companies and their founder with conducting a Ponzi scheme that used the lure of quick riches from virtual currency to defraud investors. According to the SEC’s complaint filed in federal court in Connecticut, “mining” for Bitcoin or other virtual currencies…
Facebook has new neighbors in Sweden, and they’re building Bitcoin’s version of the Death Star – a 10 megawatt data center filled with high-powered computers mining for cryptocurrency. Bitcoin mining equipment company KnC Miner has begun construction on its new facility in Boden, about 10 miles down the road from Facebook’s server farm in Lulea. The data center…
Bitcoin mining will always be profitable. But, self mining is impossible especially in India. So, the best way to earn is join a cloud mining pool. To know better read below- If Rs 1 would have been invested 5 years back then it would have given the following benefits by October 2016* âś…Nationalised Bank, PF, PPF : Fixed deposit 8-9% /year = Rs. 1680/- âś…Gold rate…
While you won’t get rich running a single Raspberry Pi Bitcoin Rig, you can probably make back your initial investment in this ingenious little machine. RaspPi Bitcoin rigs are nothing new but Dave Conroy has just built one and, more important, shared his plans in a fairly easy-to-read page. The system uses an ARM-centric mining OS called MinePeon. It is basically…
The pace at which Bitcoin ASICs have been developed, for a previously non-existent market, has seen some academic interest. One paper titled Bitcoin and The Age of Bespoke Silicon notes: We examined the Bitcoin hardware movement, which led to the development of customized silicon ASICs without the support of any major company. The users self-organized and self-financed…
Supercomputers are pretty amazing. They’re mostly used for research since they specialise in processing, analysing, and doing computations on ridiculous amounts of data at high speeds. Supercomputer simulations have been used to understand earthquakes, model pandemics, predict the weather, and more. Harvard University has its own supercomputing cluster called…
As long as you re in good communication with the network and have a hashrate measured in something better than minutes per hash, yes, you technically do have a chance of successfully mining a block, even if your hashrate is tiny compared to the whole network. Then the question is, what are your chances and should you do it? I think an analogy with a lottery is…
I think gainbitcoin is the best among cloud mining you can check hashrate distribution graph on . Gbminers comes at 9th position with 5.6% of the total hashrate. Currently company is doing all it can to improve their hashrate. With the total experience of three years in mining bitcoin, the company have realized the need of safe, effective and prompt mining servers…
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Nicholas Berthaume, a former employee of the Board of Governors of the Federal Reserve System, was sentenced to twelve months’ probation and fined $5, after he pleaded guilty to one misdemeanor count of unlawful conversion of government property. According to the plea agreement, Berthaume had access to computer servers in his role as a communications analyst…
Today we did some calculations to see what is the actual profit that we are getting from various Bitcoin and Litecoin cloud mining services based on the earnings from yesterday. We’ve used 1 GHS or 1 THS as a base for Bitcoin cloud mining and 1 MHS as a base for Litecoin cloud mining so that we can compare the different services listed below. The list does not…
