06 Dec '12, 2pm

Bitcoin miners are now brute forcing their way to millions with a new weapon -- custom microchips:

Bitcoin miners are now brute forcing their way to millions with a new weapon -- custom microchips:

Bitcoin is thriving. Over a year after many pundits declared it dead , the virtual currency is holding its value and now being accepted as payment everywhere, from casinos to WordPress to stripper subreddits to drug markets . And what's even more interesting is that a new industry is emerging to support the crazy nerds that mine Bitcoin. The first thing they need: microchips. Anybody can create Bitcoin. Per the rules of its mysterious creator, "Satoshi Nakamoto," all it takes is a piece of free software that can be downloaded from the web and a computer powerful enough to run it. Just like our currency essentially consists of pieces of paper that the government promises is worth money, Bitcoin are unique codes that must be generated using a complex mathematical formula that basically amounts to brute force. Distributed in computers across the world, the software keeps trac...

Full article: http://motherboard.vice.com/blog/bitcoin-mining-creating-...

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Bitcoin miners build their own chips - New ways to make cash from the virtual currency #chips

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