21 Dec '13, 9pm

Into the Bitcoin Mines

Into the Bitcoin Mines

On the flat lava plain of Reykjanesbaer, Iceland, near the Arctic Circle, you can find the mines of Bitcoin. To get there, you pass through a fortified gate and enter a featureless yellow building. After checking in with a guard behind bulletproof glass, you face four more security checkpoints, including a so-called man trap that allows passage only after the door behind you has shut. This brings you to the center of the operation, a fluorescent-lit room with more than 100 whirring silver computers, each in a locked cabinet and each cooled by blasts of Arctic air shot up from vents in the floor. These computers are the laborers of the virtual mines where Bitcoins are unearthed. Instead of swinging pickaxes, these custom-built machines, which are running an open-source Bitcoin program, perform complex algorithms 24 hours a day. If they come up with the right answers before ...

Full article: http://mobile.nytimes.com/blogs/dealbook/2013/12/21/into-...

Tweets

Into the Bitcoin Mines, via @nytimes

myaccount.nytimes.com 21 Dec '13, 8pm

Log in to manage your products and services from The New York Times and the International New York Times. Don't have an ac...

Into the Bitcoin Mines

myaccount.nytimes.com 21 Dec '13, 8pm

Log in to manage your products and services from The New York Times and the International New York Times. Don't have an ac...

DealBook: Into the Bitcoin Mines

myaccount.nytimes.com 21 Dec '13, 11pm

Log in to manage your products and services from The New York Times and the International New York Times. Don't have an ac...

Into the bitcoin mines: All you wanted to know about bitcoins - Economic Times #bitcoin

Into the bitcoin mines: All you wanted to know ...

On the flat lava plain of Reykjanesbaer, Iceland, near the Arctic Circle, you can find the mines of Bitcoin. To get there,...

The Worst Kind Of People Have Entered The Bitcoin Game

The Worst Kind Of People Have Entered The Bitco...

businessinsider.com 22 Dec '13, 4pm

The Worst Kind Of People Have Entered The Bitcoin Game The Worst Kind Of People Have Entered The Bitcoin Game Ugh. Forex s...

A Trip Through The Bitcoin Mines

zerohedge.com 25 Dec '13, 9pm

Once upon a time, money - in the form of precious metals - used to be literally dug out of the earth. Limitations on the a...

A Trip Through The Bitcoin Mines

A Trip Through The Bitcoin Mines

silveristhenew.com 25 Dec '13, 10pm

Once upon a time, money – in the form of precious metals – used to be literally dug out of the earth. Limitations on the a...

Bitcoin Is Evil

myaccount.nytimes.com 28 Dec '13, 7pm

Log in to manage your products and services from The New York Times and the International New York Times. Don't have an ac...

CryptoLocker's crimewave: A trail of millions i...

zdnet.com 22 Dec '13, 9am

Dell SecureWorks estimates that CryptoLocker has infected 250,000 victims. The average payout is $300 each, and millions i...

bitcoin

scmp.com 26 Dec '13, 6pm

Investors looking for a way to make money from the global bitcoin bonanza should steer clear of the pseudo currency itself...

How to buy Bitcoin, Litecoin, and DogeCoin

How to buy Bitcoin, Litecoin, and DogeCoin

digitaltrends.com 22 Dec '13, 1am

Despite a roller coaster of a week for digital currencies – or perhaps because of it – the world can’t get enough of Bitco...

Bitcoin

Bitcoin

bloomberg.com 02 Jan '14, 10pm

Now there are some important differences between this mining profit and credit card transaction fees. One is that this isn...

Bitcoin

Bitcoin

forbes.com 19 Dec '13, 5pm

It’s been practically impossible to follow the financial news in recent months without coming across almost daily articles...

The Year of Bitcoin

rt.com 31 Dec '13, 5am

While price inflation is the first thing everybody recalls about bitcoin in 2013, what really defines its incredible year ...

"Fiat money is backed by men with guns, Bitcoin is not" @NYTimeskrugman #peace

"Fiat money is backed by men with guns, Bitcoin...

businessinsider.com 25 Dec '13, 6pm

Economist and Nobel Prize winner Paul Krugman says that "in principle, you can have assets, which are considered valuable,...