Bitcoin mining is dangerous

[lamedude]

Sleeping in a small room with 9 5850's with no AC, what could go wrong?

[KHRZ]

It's actually profitable to generate digital currency? Cheap electricity where he lives? Not to mention the AC needed to dispatch the heat

[Xtreme2damax]

So what is the point of this app?

[jediyoshi]

(06-18-2011, 04:46 AM)Xtreme2damax Wrote: So what is the point of this app?

Bitcoins are a digital currency that takes the place of 'real' money in online transactions (obviously given that it accepts them). People like them since they can be untraceable.

I know the site is all serious incidents, but I can't help but see a tinge of humor in reading it.

[KHRZ]

I read up on it, and the currency apparently is mostly used by drug smugglers? IDK if that was the creator's intention, but I don't see much other use for it...

[ExtremeDude2]

Figured I'd post this here:
http://www.maximumpc.com/article/news/new_trojan_targets_bitcoin_wallets

[KHRZ]

Well, what I read is that the total generable amount of bitcoins is 21 million, and it now takes 500 000 times more work to generate 1, that it did with the first ones, meaning they should increase in value. Sounds like one big scheme for whoever made the easy first ones to get rich later

[DacoTaco]

(06-18-2011, 05:29 AM)jediyoshi Wrote:

(06-18-2011, 04:46 AM)Xtreme2damax Wrote: So what is the point of this app?

Bitcoins are a digital currency that takes the place of 'real' money in online transactions (obviously given that it accepts them). People like them since they can be untraceable.

that description sounds like....paypal

aside from the untraceable since that depends on the host

[jediyoshi]

(06-18-2011, 07:22 AM)DacoTaco Wrote:

(06-18-2011, 05:29 AM)jediyoshi Wrote:

(06-18-2011, 04:46 AM)Xtreme2damax Wrote: So what is the point of this app?

Bitcoins are a digital currency that takes the place of 'real' money in online transactions (obviously given that it accepts them). People like them since they can be untraceable.

that description sounds like....paypal

aside from the untraceable since that depends on the host

Paypal relies on exchange rates and actual real world currencies like dollars and pounds though, it's a middle man for actual money. Bitcoins are literally just data floating around the internets with no tangible equivalents.

[silveruniverse]

i should mention it's the currency that LulzSec uses for their donations.

besides, the trojan is for windows only, and i've seen on a lot of the forums (such as the forum for Slush's Pool) that a lot of them use Linux