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Author Topic: 2013-07-17 Botcoin: Bitcoin Mining by Botnet  (Read 921 times)
lewisg
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July 18, 2013, 12:38:22 PM
 #1

http://krebsonsecurity.com/2013/07/botcoin-bitcoin-mining-by-botnet/

Bitcoin is a decentralized, virtual currency, and bitcoins are created by large numbers of CPU-intensive cryptographic calculations. As Wikipedia explains, the processing of Bitcoin transactions is secured by servers called bitcoin miners. These servers communicate over an internet-based network and confirm transactions by adding them to a ledger which is updated and archived periodically using peer-to-peerfilesharing technology. In addition to archiving transactions, each new ledger update creates some newly minted bitcoins.

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July 18, 2013, 01:23:39 PM
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I imagine botnets will be pointed towards Primecoin until some sort of more efficient GPU / FPGA / ASIC miner is built for them, yes? 

Or am I wrong on my profitability calcs (no calculations actually done, just speculating from the hip, haha).

Coinbase for selling BTCs or Vircurex for trading alt cryptocurrencies like DOGEs
CoinNinja for exploring the blockchain.
PM me with any questions on these sites!  Happy to help!
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