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BitCoin

The Hard Math Behind Bitcoin's Global Warming Problem

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.

l33tdawg Fri, 12/15/2017 - 23:06 Industry News BitCoin
Want to really understand how bitcoin works? Here’s a gentle primer

The soaring price of bitcoin—the virtual currency is now worth more than $250 billion—has gotten a lot of attention in recent weeks. But the real significance of bitcoin isn't just its rising value. It's the technological breakthrough that allowed the network to exist in the first place.

l33tdawg Fri, 12/15/2017 - 23:06 BitCoin Industry News

North Korea could be making a fortune thanks to bitcoin

posted onDecember 13, 2017
by l33tdawg

North Korea is profiting from the rise of bitcoin by hacking, stealing and mining the cryptocurrency with vigour, say experts.

Multiple security companies have linked Kim Jong-un's state hackers to digital assaults on the networks of casinos, cryptocurrency exchanges and large banks. Symantec, one such firm, said in May 2017 that North Korea had possible ties to the "WannaCry" outbreak.

First US bitcoin futures start trading at 6PM Eastern

posted onDecember 10, 2017
by l33tdawg

Bitcoin is one step closer to becoming a part of the mainstream financial world. Cboe is launching the first US bitcoin futures exchange at 6PM Eastern, giving speculators a chance to bet on the value of the cryptocurrency through a listed (XBT), regulated entity. You don't use a digital wallet or otherwise require bitcoins -- instead, you trade and settle futures contracts using cash, with a $10 minimum price interval and a $1 transaction fee from January onward.

Bitcoin traders beware: Hackers using fake Gunbot tool to deploy Orcus RAT in new phishing campaign

posted onDecember 10, 2017
by l33tdawg

Hackers are looking to exploit the surging interest and value in Bitcoin by targeting traders with a fake advertisement for a bitcoin trading bot called Gunbot, researchers have found. However, the advertisement actually spreads the malicious Orcus remote access trojan (RAT) to steal bitcoin.

Bitcoin is currently the talk of the town as it continues to grow in acceptance, and has soared in value. At the time of publication, 1 BTC is worth $16,116 (£12,035).

Bitcoin Sites Become Hot Targets for DDoS Attacks

posted onDecember 6, 2017
by l33tdawg

The massive surge in Bitcoin prices in recent months suddenly has made online cryptocurrency exchanges and services popular targets for distributed denial-of-service (DDoS) attacks.

This Monday, Bitfinex, one of the largest US dollar Bitcoin exchanges in the world, said it was the victim of a DDoS attack that knocked it offline for a short period of time. The company reported a similar incident just a few days earlier, and at least one other incident in June affected withdrawals and deposits of the then newly launched IOTA cryptocurrency.

Get ready for a wave of Bitcoin forks

posted onNovember 30, 2017
by l33tdawg

On August 1, a dissident faction of the Bitcoin community created a new payment network called Bitcoin Cash. There are lots of Bitcoin-derived spinoff currencies, of course, but this was unusual because it branched off from the existing Bitcoin blockchain. The result was the cryptocurrency equivalent of a stock split: everyone who owned one bitcoin before the split suddenly owned a "cash" bitcoin after the split.

How to Keep Your Bitcoin Safe and Secure

posted onNovember 5, 2017
by l33tdawg

Owning cryptocurrency isn't quite the Wild West experience it was at the beginning of the decade, but investors still face plenty of instability and risk. The threats aren't just abstract or theoretical; new scams crop up, and old ones resurge, all the time. Whether it's a fake wallet set up to trick users, a phishing attempt to steal private cryptographic keys, or even fake cryptocurrency schemes, there’s something to watch out for at every turn.