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Thread: Bitcoin

  1. #21
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    Hackers Abscond With Around $70M Worth Of Bitcoin

    It's not just cryptocurrencies like Bitcoin that are mostly digital these days, but it can still make for a reality check when some huge quantity gets stolen by a hacker by nebulous means. Such was the case last week, when according to CNN one or more hackers busted into the bitcoin mining system of digital currency mining firm NiceHash. As NiceHash CEO Marko Kobal put it in a public statement delivered via video:
    "Yesterday morning at about 1 a.m. a hacker or a group of hackers was able to infiltrate our systems through a compromised company computer… Given the complexity and security of the systems in place, this appears as an incredibly coordinated and highly sophisticated attack."
    The hack came as Bitcoin has skyrocketed in value over the last several weeks, surpassing $17,000 per bitcoin for the first time. That meant the value of the hacked bitcoins came to about $70 million – or, to put it in Bitcoin terms, the hackers stole around 4,700 bitcoins from NiceHash's servers.




    Dan Kitwood/Getty Images

    It looks like the unnamed hackers were able to break into the NiceHash server using a deceptively simple means: The login credentials of a NiceHash engineer. Over the course of his video statement, Kobal didn't specify whether the hackers could have accessed funds or personal information from any user accounts, but an earlier statement from NiceHash that immediately followed the crime sheds a little (and I do mean a little) more light on what happened:
    "While the full scope of what happened is not yet known, we recommend, as a precaution, that you change your online passwords … In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are cooperating with them as a matter of urgency."
    Even though the recent NiceHash hack is among the largest such crimes ever in terms of cash value, 4,700 bitcoins isn't much compared to other recent bitcoin heists: In 2015, European cryptocurrency exchange Bitstamp was taken for roughly 19,000 bitcoins, while last year hackers took almost 120,000 bitcoins from Hong Kong exchange Bitfinex – and to give you an idea of how much growth Bitcoin has seen since then, that haul was worth about $65 million at the time, less than the value of the more recently stolen 4,700 bitcoins by a significant margin.

  2. #22
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    That is why I keep my Bitcoin on paper.

    Last edited by Awani; 12-16-2017 at 02:43 PM.
    Donít let the delusion of reality confuse you regarding the reality of the illusion.

  3. #23
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    Just to throw this out there, I always get a twist in my eyebrow when I see that some poor Bitcoin exchange or market was hacked. The news makes it sound like robbing a bank, except Bitcoin doesn't leave a trail. It has no serial numbers, and it's difficult, if not impossible, to know where the money ended up. A long time ago "losing" Bitcoin meant misplacing the external drive where your wallet was, or washing your pen drive in the laundary machine.

    Of course, back then they weren't thought of as money. Just a silly Internet tipping currency. When the news hit that the price had risen to $500, a couple of my friends were scrambling to find their old Bitcoin accounts where they had collected thousands of Bitcoin. Most of them cashed out then, hehe. Guess they should have held on a bit longer.

    Edit: Sorry, I derailed myself. The reason I suspect all of these articles is because it would be incredibly easy for one of these companies to "rob" themselves and get away with it.

  4. #24
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    Another perspective people always forget is that "normal" money is robbed in the trillions of dollars on a regular basis... by bankers mainly. They do it differently, but it is the same thing. Perhaps it has happened somewhere, but Bitcoin has not forced large amounts of people to loose their homes or funded wars.

    Donít let the delusion of reality confuse you regarding the reality of the illusion.

  5. #25
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    Quote Originally Posted by Awani View Post
    . . .or funded wars.
    There are those who would disagree with you on this point

    Of course, it's partly a matter of semantics. Money doesn't "do" evil, it's just a tool.

  6. #26
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    There are tons of other cryptocurrencies. Which do you guys like beyond Bitcoin, if any?



    Donít let the delusion of reality confuse you regarding the reality of the illusion.

  7. #27
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    Quote Originally Posted by Awani View Post
    There are tons of other cryptocurrencies. Which do you guys like beyond Bitcoin, if any?
    Personally I want Dogecoin to succeed, why? Because I have 56 of them
    But I think that Bitcoin Cash seems to be the next big thing.

    I also think that currently is a good time to invest in all altcoins.

    Also there is new cryptocurrency going to be released next year, chances that it will succeed are quite high. Currently there are free "airdrops" of such coins (they are given away for free to people currently)

    https://powtoken.com/index.php?ref=POW127626

    You need to login via your Facebook account, there is no malware or viruses or anything of that sort Please, use my referal link if you are interested, it will give me more coins too

  8. #28
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    Quote Originally Posted by Awani View Post
    There are tons of other cryptocurrencies. Which do you guys like beyond Bitcoin, if any?
    Here's my top 5:
    Tron (TRX)
    Ethereum (ETH)
    MIOTA (IOTA)
    Ripple (XRP)
    Cardano (ADA)

    IOTA and Ripple platforms seem to be the most promising. IOTA is an evolution of the Ethereum platform but instead of using the blockchain they're developing the 'Tangle', and Ripple is beginning to be used by the international banking system for transactions and going after the SWIFT market.

    Tron is interesting because of who the CEO is, Justin Sun. Apparently he has a habit of developing multi-million dollar companies.

    Cardano is apparently the 'national crypto' for the Japanese, and I have a soft-spot for the Japanese haha.
    Last edited by Kiorionis; 12-23-2017 at 09:56 PM.
    Art is Nature in the flask; Nature is a vial thing.

  9. #29
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    Quote Originally Posted by Kiorionis View Post
    Here's my top 5:
    Tron (TRX)
    Ethereum (ETH)
    MIOTA (IOTA)
    Ripple (XRP)
    Cardano (ADA)
    I totally forgot to mention Ripple. I think it is because it has a lot of problems to setup it up properly + minimum deposit and all that stuff.

    Are there any free give-aways or faucets of TRON?

  10. #30
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    Quote Originally Posted by Warmheart View Post
    I totally forgot to mention Ripple. I think it is because it has a lot of problems to setup it up properly + minimum deposit and all that stuff.
    Curious. What site are you using for Ripple? I havenít had any problems
    Art is Nature in the flask; Nature is a vial thing.

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