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This week’s Bitcoin Atom fork: A quick primer

posted onJanuary 22, 2018
by l33tdawg

Bitcoin Atom, an ambitious Bitcoin fork due to come into existence within the next few days, plans to solve a substantial problem in the cryptocurrency world. The project will use atomic swaps to allow users to exchange tokens at absolutely minimal costs without any intermediaries or centralized exchanges. The project also plans to integrate Lightning Swaps (LS) to power extremely fast and cheap transactions.

67 Insane Facts About Bitcoin

posted onJanuary 11, 2018
by l33tdawg

Bitcoin is a virtual currency that uses Blockchain technology for secure payments and storing money electronically, without requiring a bank or a person’s name. Satoshi Nakamoto created this cryptocurrency back in 2009. The biggest advantage of Bitcoin is that it’s not under control of central authority, government or private company, so people are free from paying transaction fees. It can be used for booking a hotel or flight, or purchasing products online, as many online stores and companies accept Bitcoin now.

North Korea accused of stealing $25K in cryptocurrency

posted onJanuary 2, 2018
by l33tdawg

North Korea is hacking for a new purpose, alleges its Southern counterpart.

North Korean hackers known as Andariel breached a server at a company in South Korea to steal 70 Monero coins last summer, Bloomberg reported Tuesday, citing analysis from the South Korean government. The coins, supported by musicians such as Mariah Carey and Fall Out Boy, are valued at a total of $25,000 (£18,440 or AU$31,880).

N. Korean hackers implicated in 2nd robbery of S. Korean bitcoin exchange

posted onDecember 20, 2017
by l33tdawg

When you're developing intercontinental ballistic missiles and nuclear weapons while under some of the harshest economic sanctions the world has seen, every bit—and every bitcoin—apparently helps.

North Korea has been implicated in both the WannaCry cryptographic worm and its bitcoin ransom demands as well as stealing about $81 million in traditional money through fraudulent funds transfers from a Bangladeshi bank. And now it appears that North Korean hackers are responsible for bringing down the Youbit cryptocurrency exchange in South Korea.

The Hard Math Behind Bitcoin's Global Warming Problem

posted onDecember 15, 2017
by l33tdawg

Let me freak you out for a second. You know what bitcoin is, right? I mean, no, but quickly, it’s a “cryptocurrency” that’s basically secret computer money. One bitcoin, which doesn’t actually have a real, physical form, is worth at this moment upwards of $16,000. But to get one, you either have to buy them from online exchanges or use specialized computing hardware to “mine” it. That last bit is where the freak-out comes in.