South Korean police arrest 14 illegal cryptocurrency miners

Fourteen individuals in South Korea have been arrested on the charges of illegally using cheap electricity to mine cryptocurrencies reported Coindesk.   Local police said that the accused were setting up mining operations at industrial complexes with electricity costs running 10 percent less than that of the area.   In accordance with local laws, the former violates rules regarding factory use, said the website.   According to reports, 100-350 mining devices were found since May of 2017.   In the realm of cryptocurrency mining, this is not the first reported…

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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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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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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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How to Bitcoin #3 – Bitcoin Trading

NEW ZEALAND – Guest Writer –The third in the series of “How to Bitcoin” articles introducing you to Bitcoin and what you can do with the cryptocurrency.  Here is an overview of the buying and selling aspect of Bitcoin, trading.     BTC can be traded on Exchanges (online companies regulated/non-regulated and are located all over the world) to buy other alt-coins. Exchanges may also trade commodities and currencies. Some large BTC Exchanges that mostly trade against the US dollar are Bitstamp, Coinbase, and Bitfinex. Click here to view the…

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Krambu Releases Cryptocurrency Mining Platform, Blockchain Hosting and Supercomputing Services

LAS VEGAS, Jan. 12, 2018 /PRNewswire/ Krambu, the industry leader in cryptocurrency mining, blockchain hosting and high-performance computing announced the release of their new app, website, and mining simulator.     “We are extremely excited to offer this emerging market a completely different sector that will allow the normal mining customer the best enterprise-level performance. We are equally excited to start offering blockchain hosting as a service to enterprise clientele,” said Dan Edwards, CEO of Krambu. “Working with a team who has the experience and knowledge from multiple technology industries…

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