Cryptocurrency & Mining News - Page 21
I would cry for years if $2 million of PC hardware turned up in my office so that I could use it for mining cryptocurrency, especially after reading about 600 systems being stolen from data centers in Iceland.
The thieves broke into data centers in Iceland between December 2017 and January 2018, with local police commissioner telling the Associated Press that it was "a grand theft on a scale unseen before".
The theft has been described as "highly organized crime", and because Iceland has been a hot spot for cryptocurrency mining operations thanks to its reduced electricity costs and low temperatures across the country, these thefts could only get worse as there are significant investments in crypto mining across Iceland.
Legends Room is a Las Vegas strip club that opened up in May 2017, and has become one of the first strip clubs in the world to not just accept Bitcoin payments, but some strippers have QR code tattoos on their body for beyond easy payment.
There's even a Bitcoin ATM at the club, while the dancers will don QR tattoos with wallet addresses that can be scanned by your smartphone. Just how many customers pay with Bitcoin with the QR tattoos? According to Brenna Sparks, who works at Legends Room: "Oh, quite often. Like the people that come here, they are like really into crypto. I feel like it's very smart. They are really into that".
She continued: "It's fun though. Once you invest, it becomes an everyday thing. It's peer to peer. It's anonymous, and it's instant".
It seems that cryptocurrency jacking is the new thing, with Tesla Motors now hit not just once but twice - the first of which with cryptojacking, and then an exposure to data theft.
The electric car maker was hit by hackers recently, something security researchers at cloud security firm RedLock revealed. RedLock said that the unprotected Kubernetes console that Tesla owns saw hackers getting into their systems, and mining cryptocurrency.
Kubernetes is something Google designed, and is used to deploy and manage containerized apps in the enterprise market. Tesla was vulnerable to the hit, as the console was unsecured in their AWS (Amazon Web Services) environment. Varun Badhwar, CEO and co-founder of RedLock said: "We weren't the first to get to it. Clearly, someone else had launched instances that were already mining cryptocurrency in this particular Tesla environment".
Thanks to Tesla not being totally secure, hackers broke into their systems and mined cryptocurrency, but making sure that their CPU usage wasn't at 100% in order to alert system administrators. RedLock explained: "the hackers had most likely configured the mining software to keep the [CPU] usage low to evade detection".
MonteCrypto: The Bitcoin Enigma is going to fire up those Steam charts with its cheap entry price of just $1.99, but is giving away a single Bitcoin to whoever can solve the 24 puzzles in the game.
The new puzzle game was developed by Gem Rose Collective, and launched on February 20 with a bunch of puzzles set in a maze, where once the game is complete the one and only winner walks away with one BTC, valued at over $10,000 at the time of writing.
Gem Rose is very secretive right now, where they've said in their press release: "We are trying to keep our identities secret for now. But we can say we are a group of game developers and that we had a crazy idea for a game. As huge fans of treasure hunts we took inspiration from riddles like la chorette d'or (the golden owl), a statue of the owl was buried in 1993 at the same time a series of clues was published, and still nobody has solved the clues to find the owl and claim the 15kg (33lb) statue made of gold and silver".
There was some huge cryptocurrency FUD spreading in early January, when South Korea was reportedly preparing a new bill that would ban cryptocurrency trading.
One of the officials who helped South Korea's regulatory changes on cryptocurrency, Jung Ki-joon, has been found dead in his home. Ki-joon was the head of economic policy at the Office for Government Policy Coordination, where he helped the efforts to mold a new legislation that would slow and stop crypto speculation and illegal activity.
Ki-joon is presumed to have had a heart attack, with Yonhap reporting that a government official said "he died from some unknown cause. He passed away while he was sleeping and [his] heart [had] already stopped beating when he was found dead".
I've had my fair share of issues with cryptocurrency wallet and app, Jaxx, but I've never written about them. I reached out to the company for help, and they really just brushed me to the side.
A few months ago I transferred $3500 AUD ($2770 USD) from Jaxx to Bittrex (a crypto exchange) and it kept on giving me error messages, but I persisted and tried again with the same error. After a few failed transactions, I realized my problem - I was using the built-in ShapeShift functionality.
This is why I was getting an error message, it was my mistake - but Jaxx was displaying that it was erroring. After this, I thought I would go back and do it properly only to see that $2770 of my funds had gone missing, because even with the 'error' it was taking my funds and throwing them into the blockchain, somewhere.
After a bunch of emails between Jaxx and myself, nothing has been resolved and they don't seem interested in solving this problem at all. An error within their app, my foolish move of not seeing I was using ShapeShift to go BTC to BTC (instead of BTC to ETH for example), and those funds are somehow lost.
I didn't say much about Jaxx until a good friend of mine, Rob Williams - Editor in Chief of TechGage, messaged me and asked if I had any problems with Jaxx. We got to chatting and he has found a pretty damn incredible security hole in Jaxx, where if someone is able to access your PC and grab your Jaxx installation folder... they have your entire cryptocurrency wallet and its contents.
We all know that the cryptocurrency market has been turbulent over the last few weeks, but the price of Bitcoin has begun surging again and in the middle of all of this crypto chaos, someone purchased a huge $400 million worth of BTC.
The anonymous trader has a BTC address of 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64, with this person purchasing the large sum of BTC between February 9-12, taking their balance from 55,000 BTC to a huge 96,650. Who was it? Some say it was Wall St buying at the new bottom, which makes sense.
Jeff Koyen, president of 360 Blockchain USA said: "In the meantime, the $400 million whale is fuel for the Telegram channels where traders lay out their conspiracy theories. However, I am willing to believe that, seeing bitcoin bottom around $6,000, Wall Street smelled blood and jumped back in".
Atari is trying to make itself relevant in a new world filled with cryptocurrencies, so the company has unveiled two new cryptos: Atari Token and Pong Token.
The company has announced it has partnered with blockchain company Infinity Networks, where they will create tokens as part of an investment deal. First up, the Atari Token is for entertainment, with a press release detailing: "The company is developing a decentralized platform giving access to any form of digital entertainment,that is to say a very wide offer ranging from video games to movies and music. This platform, under development, will operate using a cryptocurrency, the Atari Token".
Pong Token is all about gaming, where it's explained as: "The second project in progress is the strengthening of the partnership with Pariplay, Ltd in the launch in 2018 of casino platforms allowing players to bet either in real money or with most crypto-currencies currently outstanding. These casino sites will offer many Atari games. To broaden the appeal of these new casinos, and once the Atari Token available, Atari has the project to launch Pong Token, a second Token dedicated to crypto-casinos and usable on these gaming sites. The details of this launch of crypto-casinos will be announced soon".
Atari is playing it smart, and is getting around regulation - they're calling their cryptocurrency "tokens" and not "coins". Atari is so concerned with regulation, that they added: "This press release is not to be published or distributed in the United States of America, Australia, Canada, Japan or Italy or any other jurisdiction in which the offering or sale of financial securities would be prohibited by law. in force. (sic)".
The hunt for hashrates by cryptocurrency miners is hurting the search for alien life, with miners pissing off SETI (Search For Extraterrestrial Life) as they can't find new GPUs to buy.
SETI chief scientist Dan Wethimer told the BBC: "We'd like to use the latest GPUs [graphics processing units]... and we can't get 'em. This is a new problem, it's only happened on orders we've been trying to make in the last couple of months". So it's not just gamers that are mad at the price of second hand and brand new cards, but the lack of stock of new cards is hurting more than just gamers, reaching into the scientific community.
SETI researchers need the GPUs to scan as many communications frequencies simultaneously, with SETI's base in Berkeley using 100 GPUs alone. SETI has other stations in Green Bank, West Virginia and Parkes, Australia are trying to expand, but the GPU shortage isn't helping. Werthimer continued: "We've got the money, we've contacted the vendors, and they say, 'we just don't have them".
Right now we're in one of the worst positions ever for consumer graphics cards, with prices sky high and stocks at rock bottom, most GPUs are being eaten up by crypto miners. What can help, other than a purported next-gen GeForce GTX 20 series and possibly mining-specific SKUs of GTX 20 series cards? Ethereum ASIC miners, that's what.
The latest news coming in from China is that mining giant Bitmain is working on an Ethereum ASIC miner, the purported Antminer F3. Bitmain's rumored F3 Ethereum miner would pack 3 motherboards with 6 ASICs per motherboard, as well as 32 x 1GB DDR3 memory chips that would make for a very power efficient, but incredibly powerful Ethereum ASIC miner. This would put GPU mining for Ethereum out of business, almost overnight.
Bitmain is reportedly meeting with a few manufacturers in Taiwan, so you can be sure that they're talking to TSMC and others in order to see how many chips they can get their hands-on.