10 Jan '14, 2pm

A Group Of Miners Has Exposed One Of Bitcoin's Fatal Flaws

A Group Of Miners Has Exposed One Of Bitcoin's Fatal Flaws

Lots of people believe Bitcoin is impregnable. Yesterday showed it may not be. GHash.io, the world's largest collective of bitcoin miners, gained control of more than 42% of all the computer processing that powers the Bitcoin network. (Because of the expense now involved for a single miner to create bitcoin, lots of people now pool their computing power.) It's the first time they came close controlling more than 50% of the entire network. Were that 50% threshold ever crossed, a host of problems have the potential to occur. We'll get to what those are in a moment. Bitcoin miners exist to make a buck. But the price they pay to do so is to confirm other people's transactions. This make sure the same bitcoins, which of course don't physically exist, aren't spent twice. When they perform such a confirmation, by unscrambling an encrypted string of letters and numbers, they're re...

Full article: http://www.businessinsider.com/bitcoin-miners-approach-da...

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Bitcoin's Fatal Flaw Was Nearly Exposed

Bitcoin's Fatal Flaw Was Nearly Exposed

motherboard.vice.com 10 Jan '14, 11am

And in fact they are, at least for the most part. By design, it wouldn’t make sense for any individual entity to weaken fa...

#Yahoo hack turned millions of users into unwitting #Bitcoin miners #Anonymous #Anons

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dailydot.com 09 Jan '14, 2pm

Hackers who used vulnerabilities on Yahoo ’s website to install viruses on millions of computers last week likely used the...

Yahoo malware was designed to transform computers into a Bitcoin mining operation

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news.cnet.com 09 Jan '14, 4pm

Many of our customers share threat intelligence with our Magna Cloud, so our research lab noticed this unknown malware and...

Bitcoin

businessweek.com 09 Jan '14, 11am

It’s not clear whether Bitcoin’s inventor, who disappeared from the Internet in mid-2010, was prophetic enough to imagine ...

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coindesk.com 11 Jan '14, 1pm

Private jet booking service PrivateFly.com is now accepting payment in bitcoin. The company, which was founded in 2007, wi...

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wired.com 10 Jan '14, 11am

Illustration: T.A. Gruneisen/WIRED In the global arms race known as bitcoin mining, there’s success, and then there’s an e...

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bloomberg.com 08 Jan '14, 1pm

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theverge.com 30 Dec '13, 8pm

The US Treasury Department's Financial Crimes Enforcement Network (FinCEN) issued guidance earlier this year outlining how...

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pando.com 30 Dec '13, 2pm

By Michael Carney On December 30, 2013 The bitcoin ecosystem got a late Christmas present from the US Department of Treasu...

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twitter.com 12 Jan '14, 2pm

To bring you Twitter, we and our partners use cookies on our and other websites. Cookies help personalize Twitter content,...

Bitcoin

Bitcoin

theumlaut.com 08 Jan '14, 1pm

ver since Paul Krugman started weighing in on Bitcoin recently , people have been using his notorious 1998 Internet predic...

Five years of Bitcoin in one post

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washingtonpost.com 03 Jan '14, 6pm

The world's first fully decentralized cryptographic financial network, Bitcoin, launched five years ago today. The years s...

The existential threat to Bitcoin its boosters said was impossible is now at hand

The existential threat to Bitcoin its boosters ...

QZ.com 09 Jan '14, 3pm

A doomsday scenario that has long been dismissed by bitcoin’s biggest boosters is now a clear and present danger . At 3am ...

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theguardian.com 07 Jan '14, 10am

Bitcoin may have become a thing of fascination for the media very recently, but the digital currency actually celebrated i...

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theguardian.com 07 Jan '14, 10am

Bitcoin may have become a thing of fascination for the media very recently, but the digital currency actually celebrated i...