Items tagged with bitcoin

What is a blockchain? When considering cryptocurrencies like Bitcoin or Ethereum, it's best to first understand the underlying technology and framework that makes their existence possible. At its core, a blockchain is a what is described as a "shared ledger" technology that is used to record the complete history of transactions that have been made. More importantly, this ledger cannot be altered in any way, making it ideal for historical analysis and peer review. When it comes to everyday transactions -- be they financial, inventory or even account-based, traditionally, each party that is involved... Read more...
Udpate, 9/17/17: It turns out the actual cryptocurrency being mined by TPB is actually Monero. As such this article has been updated. The Pirate Bay made its name as the site to go to if you want to download pirated applications, games, music or movies. The site is infamous for skirting the jurisdiction of authorities in the U.S. and abroad while letting people download and share copyrighted materials without paying. This time around, the website has allegedly added some changes to make it a bit of extra cash on the side, and pirates aren't likely to be happy. Reports are that Pirate... Read more...
Bitcoin is living up to its billing as a volatile currency. It was a big deal last month when Bitcoin first flirted with a $2,900 valuation. Just a couple of weeks later, it jumped past the $4,000 mark, setting yet another new high in the process. More recently, Bitcoin has hit a rough patch, causing its value to fall as low as $2,915.15, its lowest level since it surge in early August.Cryptocurrency investors seemingly panicked in the wake of negative news this week. It started with JPMorgan Chase CEO Jamie Dimon calling cryptocurrencies like Bitcoin a fraud. Speaking at the Delivering Alpha conference,... Read more...
Just a day after JPMorgan Chase CEO Jamie Dimon unleashed a fury of attacks on Bitcoin (and cryptocurrencies in general), another salvo is incoming. It was reported last week by Caixin that China was contemplating shutting down cryptocurrency exchange trading, and further confirmation of that order arrived today. The news sent Bitcoin into another tailspin, extending its losses for a fifth straight day, its longest losing streak in over a year. BTC China, the second largest exchange in China, announced that as to today, it will no longer accept new user registrations. It also announced that the... Read more...
There has been a run on cryptocurrencies in the past year or so, especially when it comes to Bitcoin and Ethereum. The latter has especially been popular, with enthusiasts quickly gobbling up high-performance NVIDIA and AMD GPUs to bolster their mining efforts. While many enthusiasts and even some well-respected financial institutions have flocked to cryptocurrencies, one high-profile executive takes the stance of "Just Say No", to quote the late Nancy Reagan. JPMorgan Chase CEO Jamie Dimon isn't just down on cryptocurrencies like Bitcoin; he thinks that they are a fraud, plain and simple. JPMorgan... Read more...
Unless you’ve been living under a rock, you know that Equifax was hacked surfaced and 143 million Americans have potentially had their personal information stolen. What many have been wondering is what exactly do the hackers plan to do with all that stolen data. A report making the rounds claims that the hackers want a massive ransom from Equifax to return the data. Hackers made the ransom demand on an unnamed Darkweb site stating that they would delete the data if they receive a ransom payment of 600 BTC, which would be worth about $2.6 million at current valuation. The value of Bitcoin is... Read more...
  The cryptocurrency market is red-hot right now, with Ethereum (ETH) helping to lead the charge. That surge in popularity was readily on display this week, when the Ethereum network surged past 410,000 transactions during a 24-hour period — actually, it was 410,061 to be exact. This is the highest number of daily transactions on record for any public blockchain to date. Ethereum’s performance put it more than 40,000 transactions ahead of Bitcoin’s record daily high. However, despite this performance for the record books, Ether hasn’t exactly budged much in value over the past week or so.... Read more...
The life of a cryptocurrency miner is fast and furious, especially if that person is mining Bitcoin, the most popular digital currency in existence. Consider that it was just two months when Bitcoin hit the $3,000 mark for the first time since it was introduced in 2009. Now just eight weeks later it is trading at around $4,300, hitting a new all-time high after activating a plan to speed up transaction times. Without getting into the somewhat complicated nitty-gritty details of cryptocurrency and the mining process, the relevant bit of info here is that Bitcoin recently split into two directions,... Read more...
Cyber crooks have found a new way to ruin a person's day with ransomware. Traditionally most ransomware encrypts a victim's storage device and then demands a ransom in order to unlock the files. Some of the nastier versions will put a time limit on receiving payment before the ransomware starts permanently deleting files. Now there is version making the rounds that not only encrypts a victim's files, it steals Bitcoin wallets as well.The new variant of the Cerber ransomware takes a dual approach to extracting fund from a victim. It searches for one of three Bitcoin wallet applications, those being... Read more...
There is a cryptocurrency war brewing in Bitcoin land. On Tuesday, Bitcoin forked, leaving us with the original Bitcoin (BTC) and Bitcoin Cash (BCH). During its first week of trading, Bitcoin Cash has been on a wild rollercoaster ride when it comes its valuation. On Wednesday, just one day after its trading debut, Bitcoin Cash was riding high with a price of $756 (at its intra-day high). However, the past few days have seen Bitcoin Cash tumble, falling to just $289 today in afternoon trading. This is hovering near an all-time low for the cryptocurrency. Bitcoin Cash has also been rocked by the... Read more...
The hackers behind the WannaCry ransomware that became an overnight global scare did not strike it rich over their nefarious deeds, though they did make around $143,000 after cashing out all of the Bitcoin payments made by victims. Had it not been for the quick response of security researchers, and one in particular who accidentally discovered a kill switch of sorts, they might have made much more. Elliptic, a London-based start-up that aids law enforcement with tracking down cybercriminals that use Bitcoin, confirmed that the WannaCry withdrew 52.2 BTC from online wallets this week. Bitcoin currency... Read more...
Getting rich has never been easy, and depending on how you go about it, there can be certain risks involved. That was certainly true of the gold rush that sent miners packing for California, and it is true today as digital miners go in search of fortune by digging up cryptocurrencies. Even the co-founder of Ethereum, one of the hottest digital currencies in existence right now, warns that things are coming to a head. "People say ICOs are great for Ethereum because, look at the price, but it's a ticking time bomb," Charles Hoskinson, one of the people responsible for developing Ethereum, told Bloomberg.... Read more...
  Unless you’ve been living under a rock for the past six months or so (and especially within the last two months), then you know that there’s been a “gold rush” of sorts in the cryptocurrency market. Bitcoin has fallen out of favor with some miners, as they have switched their attention to the rising star power of Ethereum. The relative ease of building a GPU mining rig, favorable difficulty levels and booming prices have made Ethereum a popular choice for those looking to score some extra funds on the side. However, is this rapid rise to fame for Ethereum destined to make a fiery crash back... Read more...
If you’ve been keeping up with the cryptocurrency market at all over the past few years, then you’ll recognize Bitcoin as the posterchild for the digital currency movement. However, in recent months, Ethereum has been surging in popularity as more miners have discovered the relative ease in which money can be made using off-the-shelf hardware components — namely mid-range graphics cards. In addition to the hardware that you’ll need to purchase (or repurpose) for mining, there’s also energy consumption to keep in mind. Even though mining GPUs like the ASUS MINING P106 and Biostar Radeon RX 470D... Read more...
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