Crypto Miner Weekly – South Korea apprehends hackers who attacked more than 6000 mining rigs

  The Crypto Miner Weekly is dedicated to bringing you the latest developments in Crypto mining technology. Information that will guide you to the most effective methods and tools available to maximize the output of your crypto mining configuration and investment.   What’s Hot and What’s Not The cyber criminals that attacked the crypto mining operations of more than 6,000 mining rigs (PCs) have been apprehended. Six hackers, attempting to steal cryptocurrencies like Litecoin (LTC), Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) from unsuspecting crypto miners were arrested in South…

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Top Wall Street Adviser Embraces Bitcoin

A top wall street adviser, Ric Edelman has just thrown his weight behind Bitcoin, the video below explains.     Why is this big news for Bitcoin? Edelman is a respected financial adviser and his firm was voted the no 1 RIA firm in 2018 by Barron’s. At the moment the firm cannot purchase Bitcoin for clients because of SEC restrictions but Edelman believes than a Bitcoin ETF will eventually be approved and this will bring a flood of money into Bitcoin and also into the crypto market as a…

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What is Bitcoin? Fully Explained in the Big Bang Theory

  Now, are all these technical Bitcoin explanations flying over your head? This, very funny, story explains what Bitcoin is and also highlights the importance of keeping your Bitcoin safe.         Can you imagine buying or mining Bitcoin years ago? It went from 0.0001 to a thousands of dollars in less than a decade. Well, there are still crypto opportunities out there… Here is one of them… click here to learn more     What is Bitcoin, really? There are those that are seriously interested to know…

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How to make a real life Bitcoin

  Do you want to make your own Bitcoin? The video below shows how you can make your own real life Bitcoin…       Why not start today and make your own Bitcoin?   Maybe this is not something that you want to try at home. So what are other ways to get your hands on Bitcoin?     Mining: BTC is processed by computing power and recorded in a public ledger (Blockchain) with the help of a network of computers. The processing of BTC transactions is termed ‘mining’. BTC…

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What is EOT mining?

One of the most fascinating things about EOT and cryptocurrency is the concept of mining.     When most people think of mining, we envisage men in hard hats going underground and digging up gold. EOT mining is a bit different but it does involve work. In this case the work involved is solving a complicated algorithm or mathematical puzzle.     Let’s take one step back. When an EOT transaction is initiated, this transaction needs to be confirmed as true and then needs to be added to the EOT…

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How to solve the Bitcoin and Blockchain energy problem

If blockchain technology is going to live up to its promise then engineers need to solve one big problem: Bitcoin mining consumes way too much energy…     The original blockchain, which underlies bitcoin, runs on an algorithm that could eat up more energy than Argentina this year, Morgan Stanley estimated.   Current mining costs in the US is on average over $ 3,000 per Bitcoin and in South Korea, the cost is a staggering $ 26,000.   Innovators from top institutions such as M.I.T. and Cornell University and large…

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Secret Chinese Bitcoin mine makes Billions

Secretive Chinese start-up called Bitmain dominates the Bitcoin “mining” industry land as reported by CNBC Is likely to make as much as chipmaker Nvidia did last year.     Estimates of gross margin of 75 percent and operating margin of 65 percent, analysts calculate that Bitmain made $3 billion to $4 billion in operating profit in 2017. It is estimated that  Nvidia’s operating profit was $3 billion during the same period.   “But Bitmain achieved this in merely four years, while it took Nvidia 24 years to get here,” the Bernstein…

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Growing Demand for Cryptocurrency Mining and “printing money”

Cryptocurrency mining continues to attract new miners as the value of cryptocurrency rises and the opportunity to “print your own money” takes hold.     GPU mining rigs are built and operated specifically for mining or it could be a computer that fills other needs such as a gaming system and is used to mine only on a part-time basis.  GPU mining is certainly proving very popular as GPU manufacturers report on ever increasing demand for graphics cards.   According to Jensen Huang, founder and chief executive officer of Nvidia,…

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Iceland “overheating” from Bitcoin mining

Bitcoin mining is a hot topic in this cold country as it is reported by the BBC that Bitcoin energy use in Iceland set to overtake homes.   A spokesperson for Icelandic energy firm HS Orka has said that Iceland is facing an “exponential” rise in Bitcoin mining that is gobbling up power resources and that electricity use at Bitcoin mining data centers is likely to exceed that of all Iceland’s homes, according to Johann Snorri Sigurbergsson in 2018. He told the BBC: “If all these projects are realised, we…

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NHS and other government websites hacked for Bitcoin mining

You can be mining Bitcoin when visiting the NHS or other government websites. It was reported the Guardian, late on Sunday that thousands of websites, including those belonging to NHS services, the Student Loans Company and several English councils, have been infected by malware that forces the computers of a visitor to the site to mine cryptocurrency while using the site.     The website of the UK’s data protection watchdog, the Information Commissioner’s Office, was taken down to deal with the issue after it was reportedly infected by the…

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