Major Silk Road 2.0 hack costs bitcoin users millions of dollars — RT …

Founded and operated by a user known only as Dread Pirate Roberts, the site helped popularize the bitcoin crypto-currency and reportedly had trade revenue of $ 1.2 million USD every month. The site was shut down by the …
Bitcoin News Bits – CoinBits.com

Gavin Andresen, “…protocol is fine. Reference wallet implementation is getting fixed” – twitter

submitted by bubbasparse link 17 comments
Bitcoin News Bits – CoinBits.com

Drug site Silk Road wiped out by Bitcoin glitch – CNN


CNN
Drug site Silk Road wiped out by Bitcoin glitch
CNN
The revived online black market Silk Road says hackers took advantage of an ongoing Bitcoin glitch to steal $ 2.7 million from its customers. The underground website's anonymous administrator told users Thursday evening that attackers had made off with
$ 2.7 million-worth of Bitcoin stolen as successor to dark web market place Daily Mail (blog)
Silk Road 2 Hacked: Entire Bitcoin Wallet Drained, $ 2.7 Million StolenInternational Business Times
$ 2.7 million in Bitcoin stolen! Will latest setback kill digital currencies?Yahoo Finance (blog)
RT (blog) –TechCrunch –Ars Technica
all 74 news articles »

bitcoin – Google News

Protest outside MtGox. Please come and join! For updates follow The_K_meister on twitter.

submitted by K_meister link 22 comments
Bitcoin News Bits – CoinBits.com

Bitcoin, Litecoin Mining Rig

Since I haven’t decide to either mine bitcoin or litecoin, I am upgrading my existing system that can do one or the other.

My existing system has been running well for over 3 years.  Now is an opportune time to put it to good use.  The only hardware I’m replacing is of course the graphics card.

Hardware under the hood now:

  • ASUS P6X58D-E LGA 1366 Intel X58 SATA 6Gb/s USB 3.0 ATX Intel Motherboard
  • 5 x SAMSUNG Spinpoint F3 ST1000DM005/HD103SJ 1TB 7200 RPM SATA 3.0Gb/s 3.5″ Internal Hard Drive
  • ASUS CuCore Series EAH5770 CuCore/2DI/1GD5 Radeon HD 5770 1GB 128-bit GDDR5 PCI Express 2.1 x16 HDCP Ready
  • OCZ Agility 2 OCZSSD2-2AGTE60G 2.5″ 60GB SATA II MLC Internal Solid State Drive (SSD)
  • COOLER MASTER HAF 932 Advanced RC-932-KKN5-GP Steel ATX Full Tower Computer Case
  • Intel Core i7-930 Bloomfield 2.8GHz LGA 1366 130W Quad-Core Desktop Processor BX80601930
  • COOLER MASTER GX Series RS750-ACAAD3-US 750W ATX12V v2.31 SLI Ready 80 PLUS BRONZE Certified Active PFC Power Supply
  • HighPoint RocketRAID 2640X4 PCI-Express x4 Four-Port SATA and SAS RAID Controller Card
  • CORSAIR CMXAF2 Fan & Heatsinks
  • 3 x COOLER MASTER R4-L2R-20CG-GP 120mm Green LED Case cooler
  • CORSAIR Hydro series H50 High Performance Liquid CPU Cooler
  • 2 x G.SKILL Sniper 8GB (2 x 4GB) 240-Pin DDR3 SDRAM DDR3 1333 (PC3 10666) Model F3-10666CL9D-8GBSR

New Hardware:

I was thinking of building another rig with an AMD processor I have collecting dust at the moment.  This is why I purchased 4 graphics cards.  I will use the Sapphire Radeon HD 7950 in the Intel rig and the XFX ATI Radeon 7950 in the AMD rig.  The AMD rig will be in a midtower case.

With the existing Asus 5770, I get 175 Mhps for bitcoin mining and 155 Khps for litecoin mining.  With the current rates, litecoin mining came out ahead by almost 50 cents per 24 hours.  In a few days, I will find out how much more I can mine with the two Sapphire cards.

Stay tuned…

 

Bitcoin trading at $207 this morning.  All the motivation you need to big your mining rig.

bitcoin price chart

Bitcoin New High

The chart above is taken from bitcoinity.org.

 

Bitcoin or Litecoin mining rig?

I am sure a lot of you who are new to bitcoin are contemplating on either to build a bitcoin or litecoin mining rig, especially with recent bitcoin price at $190. I was leaning towards building a litecoin mining rig but will need to reconsider with the latest bitcoin price surges. For those who are new to bitcoin or litecoin and thinking of building a mining rig, you need to calculate if it is going to be profitable. A couple of links below will get you started.

Hopefully, by the end of this week, I will have some numbers for bitcoin and litecoin mining. The graphics card I will be using is the XFX ATI Radeon HD7950 (FX795ATDFC).  I will have two to start and if the cards are decent, I will add one or two more.  More details to follow.

 

 

If you have bitcoin or litecoin rigs running, give me a shoutout in the comment box.

Get your free bitcoins

Some sites giving away bitcoins.  Not a whole lot but with every thing in life, you have to do a little bit of work.

  • Earn Free Bitcoins – Get bitcoins for web browsing.
  • BTC4Free – Register, complete surveys and earn bitcoins.
  • Bitcoinaddict.com – A heavy ads driven site giving away BTC for ad viewing.
  • Iwantfreebitcoins.com – Another free bitcoin giveaway for filling out surveys and offers.
  • Bitvisitor – earn bitcoins for visiting websites.  You need to spend 5 minutes on each site to earn bitcoins.
  • DailyBitcoins.org – They give out free Bitcoins once an hour.  Check here for specific times prizes will be given with specific amount
  • Coinworker.com – “work for food” motto.  At coinworker, you work for bitcoins.
  • Cointube.tv – Yep, get free bitcoins watching youtube videos.
  • BC Casino – Get commission in bitcoins for referring players.  Earn 25% of the net revenues generated from each player you refer for your life.
  • Bitcoin Video Casino – earn bitcoins for referring players.
  • Bitbet.us – another bitcoin betting affiliate
  • Bit Gigs – This is the bitcoin job board.  You can offer your services in return for bitcoins and vice-versa.
  • Free Digital Money – Get digital money (three options – bitcoin, solidcoin, liberty reserve) sent to you instantly when you try new apps, fill out surveys, view advertisements, sign up for trial subscriptions, and much more!
  • Faucet Bitcoin – Gives you 0.0025 bitcoin for your mobile number. You agree to receive occasional SMS messages advertising Bitcoin related services.
  • Rugatu.com – Yahoo answer type site where you get bitcoin for answering questions.
  • Anonymous Ads – For website owners to display ads on their sites.  They will be credit BTC when visitors click on the ads.

If you know of any others get free bitcoin sites, post them in the comment section.  Let us know your experiences with any of the get free BTC sites.  Which ones you recommend and which ones to stay away from.  I’ll be adding more as I find them.

Bitcoin – Digital Currency Bubble?

Bitcoin price chart

Bitcoin Prices chart as of April 3rd 2013 from CNN

 

Is this a bubble waiting to burst like 1999 all over again?  What do you think?

 

 

Bitcoin introduction videos

 

 

Introduction To Bitcoin

An abstract taken from Satoshi Nakamoto white paper on “Bitcoin”:

A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution. Digital signatures provide part of the solution, but the main
benefits are lost if a trusted third party is still required to prevent double-spending.
We propose a solution to the double-spending problem using a peer-to-peer network.
The network timestamps transactions by hashing them into an ongoing chain of
hash-based proof-of-work, forming a record that cannot be changed without redoing
the proof-of-work. The longest chain not only serves as proof of the sequence of
events witnessed, but proof that it came from the largest pool of CPU power. As
long as a majority of CPU power is controlled by nodes that are not cooperating to
attack the network, they’ll generate the longest chain and outpace attackers. The
network itself requires minimal structure. Messages are broadcast on a best effort
basis, and nodes can leave and rejoin the network at will, accepting the longest
proof-of-work chain as proof of what happened while they were gone.

For a layman description of what is bitcoin, refer to Bitcoin Magazine.

Bitcoins are a true 21st century currency. If you want to get into the bitcoins trading and mining business, head over to the bitcoin talk forum and learn the trick of the trade.  You can also download the Bitcoin client and start mining and trading today.

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