Police arrested Dutch man with Bitcoin mining farm for money laundering

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Ftweakers.net%2Fnieuws%2F95169%2Fpolitie-pakt-nederlander-met-bitcoinmining-farm-wegens-witwassen.html

by jeroen94704 • 12 years ago

41 14 12 years ago

translate.google.com

pyalot2• 12 years ago

Can we lay it off with the aprils fools already?

zackliscio• 12 years ago

On a positive note, now I have a full year before online tech media wastes an entire day highlighting products that don't exist, and why they are so funny. They don't seem to have grasped that explaining a joke kills the humor...

celticninja• 12 years ago

Explaining a joke is like disecting a frog, you understand it better but the frog is dead.

coldtea• 12 years ago

now I have a full year before online tech media wastes an entire day highlighting products that don't exist

One full year? That's too optimistic. We'll soon be flooded with reviews and articles wasted on programs that don't exist: Apple product rumors, half-baked Google non-products, Microsoft prototypes...

profquail• 12 years ago

I read an interesting paper not long ago that discussed exactly such a scenario (stealing electricity to mine Bitcoin). The paper is titled, "Bitcoin & Gresham's Law -- The Economic Inevitability of Collapse":

http://diyhpl.us/~bryan/papers2/bitcoin/Bitcoin%20and%20Gres...

etherael• 12 years ago

This paper addresses the pre ASIC landscape. Stealing power from standard systems to mine bitcoin right now would be a complete waste of time, you would get almost nothing from the package with even a ridiculous amount of standard systems.

All heavy duty mining nowadays is done by ASICs, even high end dedicated GPU farms can't compete, letalone the kind of machines likely to fall victim to a botnet. If someone did try to hijack those ASICs, you can bet the people running the mining business would notice, assuming it were even possible.

It's interesting how this might apply to an altcoin that actually manages to crack the problem of CPU only mining that a few have tried, however. This particular niche will always have this as a potential problem going forward.

kanzure• 12 years ago

an altcoin that actually manages to crack the problem of CPU only mining

Police arrested Dutch man with Bitcoin mining farm for money laundering

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