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#13 2014-05-12 23:29:52

Gocom
Plugin Author
From: Helsinki, Finland
Registered: 2006-07-14
Posts: 4,533
Website

Re: Bitcoin donation

gaekwad wrote #280752:

Yes. My point was that there are reportedly some unscrupulous folks who are using someone else’s AWS account without their knowledge to chew through the mining process. Amazon provide the infrastructure, the (unscrupulous) man in the middle gets the Bitcoin and hightails it out of there, unsuspecting punter foots the bill from AWS a few weeks later.

If one let’s their machine get taken over, people will find ways to use it. Bitcoin mining is one way to make money with zombie systems. It’s not anything new.

We might be reading using zombie system right now too; you could be crunching Bitcoins right now ;p

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#14 2014-05-15 09:16:44

Destry
Member
From: Haut-Rhin
Registered: 2004-08-04
Posts: 4,751
Website

Re: Bitcoin donation

Well now I have to ask the question. What do you need to start mining? What’s the 1, 2, 3… ?

I’m pretty sure Gocom already has rigs crunching somewhere. ;)

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#15 2014-05-15 09:21:03

gaekwad
Server grease monkey
From: People's Republic of Cornwall
Registered: 2005-11-19
Posts: 3,581
GitHub

Re: Bitcoin donation

Short answer: to make it worthwhile, as much computing power as you can lay your hands on and an understanding electricity bill payer.

bitcoin.org/en/faq

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#16 2014-05-15 09:29:15

Destry
Member
From: Haut-Rhin
Registered: 2004-08-04
Posts: 4,751
Website

Re: Bitcoin donation

Bah! Yet another privilege of the 1%. I’ll stick with paper and coins for when the grid shuts off.

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#17 2014-05-15 10:37:05

philwareham
Core designer
From: Haslemere, Surrey, UK
Registered: 2009-06-11
Posts: 3,532
Website GitHub Twitter

Re: Bitcoin donation

I have two servers standing fairly idle – so somehow harnessing those I can build bitcoins? I don’t really understand but I like free money so my interest is peaked.

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#18 2014-05-15 11:07:20

gaekwad
Server grease monkey
From: People's Republic of Cornwall
Registered: 2005-11-19
Posts: 3,581
GitHub

Re: Bitcoin donation

philwareham wrote #280827:

I have two servers standing fairly idle – so somehow harnessing those I can build bitcoins? I don’t really understand but I like free money so my interest is peaked.

Yes, but it’ll be a slow process, and it’s possible it’ll cost you more in electricity than the Bitcoins are worth. Also, and this is anecdotal rather than proven, I killed many Dell computers at my old workplace by running an rc5-72 brute force on them 24/7 – capacitors just blew up. Some computers just aren’t up to being thrashed all day, every day.

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#19 2014-05-15 12:24:36

JimJoe
Member
From: United States
Registered: 2010-01-30
Posts: 507
Website

Re: Bitcoin donation

I have been leary of Bitcoins since I first heard of them. Who is behind it ? Virtual currency isn’t much different than fiat money. But at least my paper money is in my pocket or bank account. (Yes, I know that the US Federal Reserve actually has my money, not all of it stored at my bank.) I just don’t trust Bitcoin.

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#20 2014-05-15 17:52:44

maniqui
Member
From: Buenos Aires, Argentina
Registered: 2004-10-10
Posts: 3,070
Website

Re: Bitcoin donation

JimJoe wrote #280829:

I have been leary of Bitcoins since I first heard of them. Who is behind it ?

What you mean by “behind it”? Who is “behind the Internet”? Who is “behind culture”?

My answer: many individuals: entrepreneurs, coders, merchants, artists, scientists, people.
Also, imo, people doesn’t use (in a pragmatic sense) stuff because someone is behind it. They just use it out of convenience. In other words, most people don’t use dollars because a government or a bank issued it, but because they know (usually by experience) that the next merchant will accept it in exchange of goods.

Virtual currency isn’t much different than fiat money.

Well, fiat money is just created by someone who really is “behind it”.
Some prefer to call Bitcoin a concordia currency.

But at least my paper money is in my pocket or bank account. (Yes, I know that the US Federal Reserve actually has my money, not all of it stored at my bank.)

And Bitcoins are stored in a publicly-shared, decentralized database.
Money stored in a bank is similar to money stored in Bitcoin: it’s just information about who’s the owner of some units of currency.


La música ideas portará y siempre continuará

TXP Builders – finely-crafted code, design and txp

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#21 2014-05-15 18:29:08

colak
Admin
From: Cyprus
Registered: 2004-11-20
Posts: 8,683
Website GitHub Twitter

Re: Bitcoin donation

JimJoe wrote #280829:

I have been leary of Bitcoins since I first heard of them. Who is behind it ? Virtual currency isn’t much different than fiat money. But at least my paper money is in my pocket or bank account. (Yes, I know that the US Federal Reserve actually has my money, not all of it stored at my bank.) I just don’t trust Bitcoin.

I have my full doubts about the money system, banks definitely included as recent history proved. One thing is for sure, money is a temporary possession and it’s more often than not, linked with debt.


Yiannis
——————————
neme.org | hblack.net | State Machines | NeMe @ github
I do my best editing after I click on the submit button.

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#22 2014-05-16 09:46:36

Gocom
Plugin Author
From: Helsinki, Finland
Registered: 2006-07-14
Posts: 4,533
Website

Re: Bitcoin donation

In Finland over 60% of GDP is dept. It grows by 5% annually, or in other words currently by 12 400 EUR every fucking minute. But it’s fine… right?

In post-industrial economy everyone can work in service sector, right? Let’s not produce anything, but buy from oversees and sell locally. Wild currency just appears, like in that 90’ hit, Pokémon.

We don’t have anything to worry, other states will bail us out. Like we bailed… wait never mind.

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#23 2014-05-16 12:20:10

etc
Developer
Registered: 2010-11-11
Posts: 4,432
Website GitHub

Re: Bitcoin donation

Yiannis, look at Finland’s NIIP before sending Jukka your bitcoins. And poor Swiss, with 229% debt…

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#24 2014-05-16 14:09:59

philwareham
Core designer
From: Haslemere, Surrey, UK
Registered: 2009-06-11
Posts: 3,532
Website GitHub Twitter

Re: Bitcoin donation

Isn’t Finland’s economy still quite closely tied to the fortunes of Nokia? We also had the Nokia UK headquarters in my hometown but it’s closed now and relocated to London, lots of local jobs gone – although on a positive spin it’s left quite a highly skilled workforce, who can probably find new work quite easily.

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