Bitcoin Malware 2,000 Clicks/Hr!!!

[psychodelic2]

one of the guys here made a big loss i think and ended up giving me a negative reputation.. such loosers i tells ya!

 

[mrGRINCH]

It's amazing what some people will click on blindly.

 

[Black.Star]

The funny thing is that bitcoin source code is open source and any one can mess around with it lol. I think the power will soon shift to hackers/programmers bcz most ppl barely understand even how the hell bitcoin works.

Sorry but thats not really how open source in general works and even more it's not how bitcoins work.
Bitcoin is not about how it is programmed but it is about about the cryptography of the program.
In order to "hack" the bitcoin network you would have to "crack" the bitcoin algorithm and cryptography.

In the history of Bitcoin, there has never been an attack on the block chain that resulted in stolen money from a confirmed output. Neither has there ever been a reported theft resulting directly from a vulnerability in the original Bitcoin client, or a vulnerability in the protocol. Bitcoin is secured by standard cryptographic functions. These functions have been peer reviewed by cryptography experts and are considered unlikely to be breakable in the foreseeable future.
It is safe to say that the currency itself has never been 'hacked'. However, several major websites using the currency have been hacked, often resulting in high profile Bitcoin heists. These heists are misreported in some media as hacks on Bitcoin itself. An analogy: Just because someone stole US dollars from a supermarket till, doesn?t mean that the US dollar as a currency has been 'hacked'.
Most bitcoin thefts are the result of inadequate wallet security. In response to the wave of thefts in 2011 and 2012, the community has developed risk-mitigating measures such as wallet encryption, support for multiple signatures, offline wallets, paper wallets, and hardware wallets. As these measures gain adoption by merchants and users, it is expected that the number of thefts will drop.

 

[Black.Star]

If i'm not mistaken, there will be a time where mining would become so expensive that it would just not worth it.

Also, i'm sure the value of 1 bitcoins doesn't match proportionally the cost to mine, so basically, it will come to point where it will be so hard to mine and no matter how much you invest, you'll be in loss.

It is just like oil, some places where you can extract oil in oceans in just so expensive that it doesn't worth it. So you need to wait, for the extractions cost to go down.

Just wanna quote some things from the bitcoin wiki:

21 million coins isn't enough; doesn't scale

One Bitcoin is divisible down to eight decimal places. There are really 2,099,999,997,690,000 (just over 2 quadrillion) maximum possible atomic units in the bitcoin design.
The value of "1 BTC" represents 100,000,000 of these. In other words, each is divisible by up to 10^8.
As the value of the unit of 1 BTC grows too large to be useful for day to day transactions, people can start dealing in smaller units, such as milli-bitcoins (mBTC) or micro-bitcoins (μBTC).

The value of bitcoins are based on how much electricity and computing power it takes to mine them

This statement is an attempt to apply to Bitcoin the labor theory of value, which is generally accepted as false. Just because something takes X resources to create does not mean that the resulting product will be worth X. It can be worth more, or less, depending on the utility thereof to its users.
In fact the causality is the reverse of that (this applies to the labor theory of value in general). The cost to mine bitcoins is based on how much they are worth. If bitcoins go up in value, more people will mine (because mining is profitable), thus difficulty will go up, thus the cost of mining will go up. The inverse happens if bitcoins go down in value. These effects balance out to cause mining to always cost an amount proportional to the value of bitcoins it produces.

Bitcoin mining is a waste of energy and harmful for ecology

No more so than the wastefulness of mining gold out of the ground, melting it down and shaping it into bars, and then putting it back underground again. Not to mention the building of big fancy buildings, the waste of energy printing and minting all the various fiat currencies, the transportation thereof in armored cars by no less than two security guards for each who could probably be doing something more productive, etc.
As far as mediums of exchange go, Bitcoin is actually quite economical of resources, compared to others.
Economic Argument 1
Bitcoin mining is a highly competitive, dynamic, almost perfect, market. Mining rigs can be set up and dismantled almost anywhere in the world with relative ease. Thus, market forces are constantly pushing mining activity to places and times where the marginal price of electricity is low or zero. These electricity products are cheap for a reason. Often it?s because the electricity is difficult (and wasteful) to transport, difficult to store, or because there is low demand and high supply. Using electricity in this way is a lot less wasteful than simply plugging a mining rig into the mains indiscriminately.
For example, Iceland produces an excess of cheap electricity from renewable sources, but it has no way of exporting electricity because of its remote location. It is conceivable that at some point in future Bitcoin mining will only be profitable in places like Iceland, and unprofitable in places like central Europe, where electricity comes mostly from nuclear and fossil sources.
Market forces could even push mining into innovative solutions that have an effective electricity consumption of zero. Mining always produces heat equivalent to the energy consumed - for example, 1000 watts of mining equipment produces the same amount of heat as a 1000 watt heating element used in an electric space heater, hot tub, water heater, or similar appliance. Someone already in a willing position to incur the cost of electricity for its heat value alone could run mining equipment specially designed to mine bitcoins while capturing and utilizing the heat produced, without incurring any energy costs beyond what they already intended to spend on heating.
Economic Argument 2
When the environmental costs of mining are considered, they need to be weighed up against the benefits. If you question Bitcoin on the grounds that it consumes electricity, then you should also ask questions like this: Will Bitcoin promote economic growth by freeing up trade? Will this speed up the rate of technological innovation? Will this lead to faster development of green technologies? Will Bitcoin enable new, border crossing smart grid technologies? ?
Dismissal of Bitcoin because of its costs, while ignoring its benefits, is a dishonest argument. In fact, any environmental argument of this type is dishonest, not just pertaining to Bitcoin. Along similar lines, it could be argued that wind turbines are bad for the environment because making the steel structure consumes energy.

Especially the first economic argument in the third quote adresses some points of yours.
Do research yourself, that's just what I found on the topic.

 

[virtualpurity]

.....so shady organizations that control networks of zombies and active bots can get a ton of money that is untraceable, and then spend it on things that are unspeakable.

That's such heartwarming news.

Why do you think BTC is invented ? And why do you thing that the biggest BTC exchange markets are from RU ?

So much misinformation in this thread. Tons of money made from botnets, bitcoin is open source and hackers control it, bitcoin is shady, the world is ending etc... ffs

Let 's do some math

CPU mining is worthless today. A consumer grade i7 does around 10Mhashes/sec (all cores). This means that with todays difficulty factor, it needs 4.5 fucking years to make 1 Bitcoin. In other words you need 1500 i7 CPUs working 24/day to make 1 BTC.

From the article, it shows the malware is doing full CPU utilization (so probably no GPU but doesn't really matter). When your PC is useless and makes big noise and heats up, do you leave it open for 24h?

So, let's say the average user needs a half a day of having the computer running to get help and clean it. Now you need 3.000 infected PCs to make 1BTC in one day. And they only last a day, so you constantly need to infect more. With 24k clicks/day and assuming he 's using a driveby exploit with 10% infection (i.e. good but not zero day), he 's getting 2400 new PCs per day.

Hooray, 0.8 BTC per day! You 'd risk going to jail for $115/day for a month or so?

Good luck with the javascript miners on your sites btw.

100% true... But one thing to consider, nowadays every simple BTC miner has a CPU and GPU mining abilities, and i am pretty sure that a spreader like that that gets 2k clicks a min on his server is not dumb enough only to include a CPU miner.. So be sure that he is making bank by now but for how long ? That depends on how smart he is..

And Solo BTC mining is now worthless you`ll need years until you mine a single BTC with today's difficulty, unless you own or pre-ordered one of those fancy ASSIC miners.. The only people that are making bank with BTC are the botnet holders at the moment.

 

[Jason Breaner]

people still using JSminers out there?

 

[MisterF]

people still using JSminers out there?

Ancient thread, most of the people no longer come onto BHW.

Closing this.