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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Chick
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Activity: 70
Merit: 10
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June 23, 2011, 07:52:51 AM |
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I wish I was him. 1) Mine on company hardware 2) Get fired 3)  4) PROFIT!!! |
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Oldminer
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Activity: 1022
Merit: 1001
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June 23, 2011, 07:57:56 AM |
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Lol these were servers though so I doubt they generated much hash power. Don't think its the norm to run a video card on a server?
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Bit_Happy
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Activity: 2100
Merit: 1040
A Great Time to Start Something!
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June 23, 2011, 08:05:00 AM |
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Lol these were servers though so I doubt they generated much hash power. Don't think its the norm to run a video card on a server?
LOL, Yes. Video cards no. Nice story, thanks OP. EDIT: I mean nice that he got caught. |
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Bit_Happy
Legendary
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Activity: 2100
Merit: 1040
A Great Time to Start Something!
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June 23, 2011, 08:09:03 AM |
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Hit piece *9, they sure do hit every talking point, don't they? Edit: This is not fair at all, since people don't know the prices were not real:  |
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newunit16
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Activity: 133
Merit: 10
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June 23, 2011, 08:53:56 AM |
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just means (hopefully) people wont create more miners. theres enough already.
and yeah, the second half of this article was garbage. OMG DID YOU KNEW DAT CRIMNELS USE IT FER MONEY LAUNDREY!? OMG!
bitcoin is not untraceable. if you think that, you're a tard. no less traceable than a prepaid visa.
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Jack of Diamonds
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June 23, 2011, 10:16:30 AM |
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bitcoin is not untraceable. if you think that, you're a tard. no less traceable than a prepaid visa.
How do you track a prepaid visa? Point of sale (kiosk, online, etc.. Unless dealt in person by proxy buyer like a homeless man, etc. in which case untraceable) How do you track someone who spends bitcoins he has just freshly mined? You don't. Only BTC with a history can be traced somewhere. BTC that simply originate from a block and reside in the miner's wallet but have never been moved, have no "identity" nor can it's owner be identified. The owner could even move his wallet in encrypted USB sticks, sell and buy them, and nobody would ever know until they are spent or sent to an exchange, etc. |
1f3gHNoBodYw1LLs3ndY0UanYB1tC0lnsBec4USeYoU9AREaCH34PBeGgAR67fx
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killer2021
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Activity: 84
Merit: 10
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June 23, 2011, 01:42:58 PM |
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bitcoin is not untraceable. if you think that, you're a tard. no less traceable than a prepaid visa.
How do you track a prepaid visa? Point of sale (kiosk, online, etc.. Unless dealt in person by proxy buyer like a homeless man, etc. in which case untraceable) How do you track someone who spends bitcoins he has just freshly mined? You don't. Only BTC with a history can be traced somewhere. BTC that simply originate from a block and reside in the miner's wallet but have never been moved, have no "identity" nor can it's owner be identified. The owner could even move his wallet in encrypted USB sticks, sell and buy them, and nobody would ever know until they are spent or sent to an exchange, etc. Its only untraceable if you are encrypting everything, using proxy etc. and spending bitcoins for products that are untraceable (ie. doing a person to person sale). In other words, you have to be pretty technical savvy to make it untraceable, something which the average joe does not have. |
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killer2021
Member
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Activity: 84
Merit: 10
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June 23, 2011, 01:45:13 PM |
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any publicity is good, even if negative.
Lots of people will read stuff like that will read it and want to look further into bitcoins.
Thats how I found out about bitcoin.
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bcpokey
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June 23, 2011, 02:39:20 PM |
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bitcoin is not untraceable. if you think that, you're a tard. no less traceable than a prepaid visa.
How do you track a prepaid visa? Point of sale (kiosk, online, etc.. Unless dealt in person by proxy buyer like a homeless man, etc. in which case untraceable) How do you track someone who spends bitcoins he has just freshly mined? You don't. Only BTC with a history can be traced somewhere. BTC that simply originate from a block and reside in the miner's wallet but have never been moved, have no "identity" nor can it's owner be identified. The owner could even move his wallet in encrypted USB sticks, sell and buy them, and nobody would ever know until they are spent or sent to an exchange, etc. it is getting to that point where solo mining is more or less virtually impossible for a single user. if you are part of a pool then you are easily traceable (minus potential proxy lifestyle i suppose, which isnt always guaranteed anonymity, especially if you're constantly dropping multiple data streams to a centrally located server constantly for weeks/months). To be able to solo mine would require a huge farm at this point, making you stand out like a sore thumb, potentially more than a prepaid visa. i suppose the only alternative i can think of would be zombie botnets set up to mine coins, but i don't really see that as a terribly viable option either. You might get 50 BTC two or three times a year? Not exactly super criminal money levels. |
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AngelusWebDesign
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June 23, 2011, 04:35:30 PM |
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This is excellent.
All the people stealing electricity from their companies/universities/etc. should be caught -- and the only way for them to be caught is for some publicity about Bitcoin to hit the news.
Whenever a story like this hits the news, it makes more people aware of
A) Bitcoin
and
B) The possibility that machines "at work" are being used for this.
IT managers are going to start checking for this. People will be getting fired. Port 8332 will start getting blocked.
And the URLs of the major pools will be blocked, just like "Myspace" and "Facebook" today.
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Zman0101
Member
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Activity: 98
Merit: 10
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June 23, 2011, 04:47:37 PM |
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His servers couldn't be doing to much damage... The network is still at 9.905 Thashs. It was around 6 3 days ago. INSANE!!
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wndrbr3d
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June 23, 2011, 05:07:53 PM |
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I think you're going to hear more and more about this kind of stuff as bitcoin gets more press. I heard of people getting fired for running BOINC services at work, and that was only for stats bragging.
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Zman0101
Member
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Activity: 98
Merit: 10
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June 23, 2011, 05:10:50 PM |
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People are frigen stupid. I hope they all get shutdown. Its bullshit. Gives us REAL Miners chance to operate effectively.
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