Arc

Bitcoin Was Created By DARPA

146 posts in this topic

Doing The math Indicates that 99% of speculative Bitcoin investors are going to get slaughtered....

Posted By: Watchman
Date: Thursday, 25-May-2017 10:12:13

 

(Natural News) Disclaimer: I am pro-Bitcoin and pro crypto-currency. For 15 years, I have publicly and repeatedly criticized the central banks, fiat currency systems and the systematic theft of purchasing power from the People by corrupt banking cartels. This is not a hit piece on Bitcoin but rather a rational analysis of why the current Bitcoin BUBBLE is dangerous for novice investors as well as the long-term reputation of the Bitcoin crypto currency. I have mined a few Bitcoins over the last two years. I now hold just 0.25 Bitcoins in total, having just traded almost my entire Bitcoin wallet for physical gold. (Yes, somebody gave me GOLD in exchange for a virtual wallet. Seriously.) Why did I do that? Because I can do math. Here’s what I discovered:

continue: http://www.naturalnews.com/2017-05-24-do-the-math-heres-the-rational-analysis-why-99-of-current-bitcoin-owners-will-never-be-able-to-sell-bitcoins-for-anything-close-to-the-imagined-current-value.html

Source http://www.rumormillnews.com/cgi-bin/forum.cgi?read=76182

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NaturalNews: 'Bitcoin has moved into the "pump and dump" phase.'

Posted By: hobie [Send E-Mail]
Date: Friday, 26-May-2017 23:59:00

 

Bitcoin has moved into the "pump and dump" phase. Beware of the hype. This current Bitcoin bubble isn't going to end well, and some people may even face criminal charges after the wipeout.

 

Click here for the Bitcoin update.

http://www.naturalnews.com/2017-05-26-bitcoin-moves-into-pump-and-dump-phase-as-heavy-bitcoin-holders-push-mania.html

Source http://www.rumormillnews.com/cgi-bin/forum.cgi?read=76275

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I have an old leed from the dreamworld on crypto though as always it wasn't clear when it first came to. I think I need to read this thread from start to  here and I"ll be back.

I'll summarise. I think Crypto is going to come of age, 2018 will be the year of Crypto but perhaps not for the right reasons. This is my own prediction based on the info, signs and patterns. 

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Ok the opening post is spot on!

I concur, 2018 is looking like the year of adoption or coming of age and the Global currency is going to be achieved with Crypto. It's very clever really. You have to keep in mind the Economist cover from 1988!

The year on ther Phoenixes medallion as it rose from the worlds currencies in ashes was 2018.

It also had the symbol for Pi. Which is a zero with a line in it, which could be looked at as representing 0's and 1's, binary the basis of the digital age. That's my own symbolic read. 

2013 is the start of this thread and something of note around that time myself and others played around with mining for some fun. I don't remember mining much. We often wonder why we didn't just buy some at the time it was less than $10 at one point. Ha! ;) 

Thanks Arc for this thread even if it took me five years to get to it!

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BEWARE! Bitcoin Seizing USA Accounts!

This is a crap story ... very inaccurate ... money is not being "seized" and there is no such thing as a "bitcoin account!" Coinbase is one single exchange. There is problem with state law issues in 2 states and only on Coinbase in HI and WI ONLY... this is terribly inaccurate reporting!!
 
Another Comment!
Agreed the best way to store your Bitcoin or any coin is on a hardware or paper wallets I have a coinbase account but do not store coins there and you should have accounts on more then one exchange (coinbase IS not the only exchange
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@DAR Do you know if there is a good "for dummies" guide/primer on getting into cryptocurrencies? 

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8 minutes ago, kandescent said:

@DAR Do you know if there is a good "for dummies" guide/primer on getting into cryptocurrencies? 

K,  I tend to stay away from these .. There are nice Canadian Silver 1 oz coins .. that can be purchased in 18K Canadian lots or small Gold coins would be better in that they stay with the owner .. One Silver coin would be like a $20 bill.

Just thought of the Day

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Thank you, DAR!!! I appreciate the sage advice. And will look into your recommendations. :-*

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Ethereum - the latest digital currency?

"Ethereum" - The Latest Officially Traded Currency You Never Heard Of.... Those Little Joo Swiss Gnomes Have Stuck It To Us Again..

Posted By: Watchman
Date: Friday, 16-Jun-2017 11:47:55

 

Nut that I am, For several years I have daily monitored forex currency and metals prices at: https://www.investing.com/indices/major-indices Specifically of late, I have been following the Swiss Franc/Dollar pair (CHF/USD) because, the gnomes in swissland are well known as the joo worldwide moneymasters.

Well, Imagine my surprise when I went to the site today and the pair was not listed among the eight defaults (most highly traded) under the 'forex' tab on the right hand tabs at the above site. In its place was this thing called ETH/USD.

We now have two intangible 'currencies' in the 8 most traded. Figments.. Bitcoin and Ethereum. Ethereum is obviously a play on 'ether'. That invisible 'medium' which is 'everywhere' and said to contain everything not visible, from radio waves to thoughts.

Since the joo currency, the Swiss Franc, has been relegated to insignificance among the top eight, one would do well to keep their eye on the inbound economic SHTF as all currencies dissapear into the 'ether'.

You will most probably soon see the ethereum used in world trade, as Bitcoin will soon fade, along with all other fiat, as the joo swiss gnomes make a play to maintain their world economic supremacy.

So, as you bend over again, here is one description of "Ethereum'. LOL. At least it is appropriately named.
Have fun.

Watchman
--------------------------------------------------------

What is Ethereum? A Step-by-Step Beginners Guide [Ultimate Guide]

If you want to know what is Ethereum and how it works and what it can be used for, without going deep into the technical abyss, this guide is perfect for you.

Important Note: This guide assumes a basic understanding of blockchain technology. If you’re unfamiliar with blockchain, check out this step by step introduction for beginners.
What is Ethereum Guide?

Beyond Bitcoin & first generation decentralized applications

Although commonly associated with Bitcoin, blockchain technology has many other applications that go way beyond digital currencies. In fact, Bitcoin is only one of several hundred applications that use blockchain technology today.

What is Ethereum? A Step-by-Step Beginners Guide

“[Blockchain] is to Bitcoin, what the internet is to email. A big electronic system, on top of which you can build applications. Currency is just one.” Sally Davies, FT Technology Reporter

Until relatively recently, building blockchain applications has required a complex background in coding, cryptography, mathematics as well as significant resources. But times have changed. Previously unimagined applications, from electronic voting & digitally recorded property assets to regulatory compliance & trading are now actively being developed and deployed faster than ever before. By providing developers with the tools to build decentralized applications, Ethereum is making all of this possible.
What is Ethereum for beginners?

At its simplest, Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications.

Is Ethereum similar to Bitcoin? Well, sort of, but not really.

Like Bitcoin, Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capability. Bitcoin offers one particular application of blockchain technology, a peer to peer electronic cash system that enables online Bitcoin payments. While the bitcoin blockchain is used to track ownership of digital currency (bitcoins), the Ethereum blockchain focuses on running the programming code of any decentralized application.

In the Ethereum blockchain, instead of mining for bitcoin, miners work to earn Ether, a type of crypto token that fuels the network. Beyond a tradeable cryptocurrency, Ether is also used by application developers to pay for transaction fees and services on the Ethereum network.

gavin-wood-smart-contracts

“Bitcoin is first and foremost a currency; this is one particular application of a blockchain. However, it is far from the only application. To take a past example of a similar situation, e-mail is one particular use of the internet, and for sure helped popularise it, but there are many others.” Dr Gavin Wood, Ethereum Co-Founder
What is a smart contract?

Smart contract is just a phrase used to describe computer code that can facilitate the exchange of money, content, property, shares, or anything of value. When run on the blockchain a smart contract becomes like a self-operating computer program that automatically executes when specific conditions are met. Because smart contracts run on the blockchain, they run exactly as programmed without any possibility of censorship, downtime, fraud or third party interference.

While all blockchains have the ability to process code, most are severely limited. Ethereum is different. Rather than giving a set of limited operations, Ethereum allows developers to create whatever operations they want. This means developers can build thousands of different applications that go way beyond anything we have seen before.

What is Blockchain Technology? A step-by-step guide than anyone can understand

“ [Ethereum] blockchain has some extraordinary capabilities. One of them is that you can build smart contracts. It’s kind of what it sounds like. It’s a contract that self executes, and the contract handles the enforcement, the management, performance and payment” Don Tapscott
The Ethereum Virtual Machine

Before the creation of Ethereum, blockchain applications were designed to do a very limited set of operations. Bitcoin and other cryptocurrencies, for example, were developed exclusively to operate as peer-to-peer digital currencies.

Developers faced a problem. Either expand the set of functions offered by Bitcoin and other types of applications, which is very complicated and time-consuming, or develop a new blockchain application and an entirely new platform as well. Recognizing this predicament, Ethereum’s creator, Vitalik Buterin developed a new approach.

What is Blockchain Technology? A step-by-step guide than anyone can understand

“I thought [those in the Bitcoin community] weren’t approaching the problem in the right way. I thought they were going after individual applications; they were trying to kind of explicitly support each [use case] in a sort of Swiss Army knife protocol.”

continue at: http://www.rumormillnews.com/cgi-bin/forum.cgi?form=0

Source http://www.rumormillnews.com/cgi-bin/forum.cgi?read=77390

Corrected Link For Above...Plus more

Posted By: Watchman
Date: Friday, 16-Jun-2017 12:09:24

In Response To: "Ethereum" - The Latest Officially Traded Currency You Never Heard Of.... Those Little Joo Swiss Gnomes Have Stuck It To Us Again.. (Watchman)

 

the correct link for the ethereum primer is: https://blockgeeks.com/guides/what-is-ethereum/

a search for "ethereum" yields many many interesting hits. Apparently it's been around for quite some time, but just now has recieved the 'official' blessing for prominance

Source http://www.rumormillnews.com/cgi-bin/forum.cgi?read=77395

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PressForTruth: Ethereum Linked To Bilderberg Gets Putin Endorsement - What You NEED To Know!

Posted By: Swami [Send E-Mail]
Date: Friday, 16-Jun-2017 18:46:16

 

Ethereum Linked To Bilderberg Gets Putin Endorsement - What You NEED To Know! - YouTube

https://www.youtube.com/watch?v=vPHMPBxK7k0

Source http://www.rumormillnews.com/cgi-bin/forum.cgi?read=77432

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I suggest everyone actually listens to the discussion about digital currencies 

Radiolab_Cryptocurrency_Iterations-G.png

Blockchain update

Last November, journalist Morgen Peck showed up at her friend Molly Webster's apartment in Brooklyn, told her to take her battery out of her phone, and began to tell her about The Ceremony, a moment last fall when a group of, well, let's just call them wizards, came together in an undisclosed location to launch a new currency. It's an undertaking that involves some of the most elaborate security and cryptography ever done (so we've been told). And math. Lots of math. It was all going great until, in the middle of it, something started to behave a little...strangely.

Reported by Molly Webster. Produced by Matt Kielty and Molly Webster. Denver Ceremony station recordings were created by media maker Nathaniel Kramer, with help from Daniel Cooper. 

http://www.radiolab.org/story/ceremony/

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Why Everyone Missed the Most Mind-Blowing Feature of Cryptocurrency

Daniel Jeffries     July 31, 2017

"There’s one incredible feature of cryptocurrencies that almost everyone seems to have missed, including Satoshi himself.

But it’s there, hidden away, steadily gathering power like a hurricane far out to sea that’s sweeping towards the shore.
It’s a stealth feature, one that hasn’t activated yet.
But when it does it will ripple across the entire world, remaking every aspect of society.
To understand why, you just have to understand a little about the history of money.

The Ascent of Money
Money is power.
Nobody knew this better than the kings of the ancient world. That’s why they gave themselves an absolute monopoly on minting moolah.
They turned shiny metal into coins, paid their soldiers and their soldiers bought things at local stores. The king then sent their soldiers to the merchants with a simple message:
“Pay your taxes in this coin or we’ll kill you.”

That’s almost the entire history of money in one paragraph. Coercion and control of the supply with violence, aka the “violence hack.” The one hack to rule them all.
When power passed from monarchs to nation-states, distributing power from one strongman to a small group of strongmen, the power to print money passed to the state. Anyone who tried to create their own money got crushed.
The reason is simple:

Centralized enemies are easy to destroy with a “decapitation attack.” Cut off the head of the snake and that’s the end of anyone who would dare challenge the power of the state and its divine right to create coins.
That’s what happened to e-gold in 2008, one of the first attempts to create an alternative currency. Launched in 1996, by 2004 it had over a million accounts and at its peak in 2008 it was processing over $2 billion dollars worth of transactions.
The US government attacked the four leaders of the system, bringing charges against them for money laundering and running an “unlicensed money transmitting” business in the case “UNITED STATES of America v. E-GOLD, LTD, et al.” It destroyed the company by bankrupting the founders. Even with light sentences for the ring leaders, it was game over. Although the government didn’t technically shut down e-gold, practically it was finished. “Unlicensed” is the key word in their attack.
The power to grant a license is monopoly power.

E-gold was free to apply for interstate money transmitting licenses.
It’s just they were never going to get them.
And of course that put them out of business. It’s a living, breathing Catch-22. And it works every time.
Kings and nation states know the real golden rule:

Control the money and you control the world.
And so it’s gone for thousands and thousands of years. The very first emperor of China, Qin Shi Huang (260–210 BC), abolished all other forms of local currency and introduced a uniform copper coin. That’s been the blueprint ever since. Eradicate alternative coins, create one coin to rule them all and use brutality and blood to keep that power at all costs.
In the end, every system is vulnerable to violence.
Well, almost every one.

The Hydra
In decentralized systems, there is no head of the snake. Decentralized systems are a hydra. Cut off one head and two more pop-in to take its place.

In 2008, an anonymous programmer, working in secret, figured out the solution to the violence hack once and for all when he wrote: “Governments are good at cutting off the heads of centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.”
And the first decentralized system of money was born:
Bitcoin
.
"

snip

https://hackernoon.com/why-everyone-missed-the-most-mind-blowing-feature-of-cryptocurrency-860c3f25f1fb

Tx Landdownunder

IMO, and I know nothing at all, just to make it clear.  IF I spend my money, I want what i spent it on, in my hot, little hand, in my physical possession.  I know there's wallets, burning of personal owner numbers/keys of the currency on dvds, kept in a safe at home, etc.  all well and good.  However, if at some time computers/internet are taken down, what guarantee is there that when they come back, any of your numbers/keys are still going to exist, other than on your paper in your safe?  That any of the sites you bought crypto through will not have disappeared completely from whatever internet reappears after it goes down?    I see this as another way to steal people's wealth, period. (but then I can be pretty closed minded)  I do not trust dealers or computers enough to get involved in this crypto business.  "A bird in the hand, is worth two in the bush"

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Bitcoin Bloodbath May Become A Massacre As THREE Chinese Exchanges Confirm Shutdowns and More Are Coming

Mac Slavo     Sept. 15, 2017

"The last couple of weeks have seen a virtual bloodbath in crypto currency trading with the majority of all publicly traded digital coins and tokens experiencing losses ranging from 20% to 98%. The carnage began when rumors swirled that China would limit ICO (Initial Coin Offerings) due to rampant fraud and uncertainty. The rumors quickly turned to reality, when earlier this week one of China’s largest centralized crypto exchanges announced that they would be closing their doors to domestic currency trading, meaning that the tens of thousands of Chinese who had been helping to drive Bitcoin gains of over 500% over the last year would soon be removed from the market. This led to an immediate and violent decline, with prices of Bitcoin going from a September 2nd all-time high of $4900 down to a brutal $3200 by Thursday morning.

And while prices appear to be recovering this morning (trading at $3695 at the time of writing) , we have to wonder if the words of Admiral Ackbar are applicable to today’s significant upswing:"

snip

http://www.shtfplan.com/headline-news/bitcoin-bloodbath-may-become-a-massacre-as-three-chinese-exchanges-confirm-shutdowns-and-more-are-coming_09152017

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Cryptocurrency Etherium just had a snafu, bigtime

'$300m in cryptocurrency' accidentally lost forever due to bug

Alex Hern   Nov, 8, 2017

"User mistakenly takes control of hundreds of wallets containing cryptocurrency Ether, destroying them in a panic while trying to give them back

More than $300m of cryptocurrency has been lost after a series of bugs in a popular digital wallet service led one curious developer to accidentally take control of and then lock up the funds, according to reports.

Unlike most cryptocurrency hacks, however, the money wasn’t deliberately taken: it was effectively destroyed by accident. The lost money was in the form of Ether, the tradable currency that fuels the Ethereum distributed app platform, and was kept in digital multi-signature wallets built by a developer called Parity. These wallets require more than one user to enter their key before funds can be transferred.

On Tuesday Parity revealed that, while fixing a bug that let hackers steal $32m out of few multi-signature wallets, it had inadvertently left a second flaw in its systems that allowed one user to become the sole owner of every single multi-signature wallet.

The user, “devops199”, triggered the flaw apparently by accident. When they realised what they had done, they attempted to undo the damage by deleting the code which had transferred ownership of the funds. Rather than returning the money, however, that simply locked all the funds in those multisignature wallets permanently, with no way to access them.

“This means that currently no funds can be moved out of the multi-sig wallets,” Parity says in a security advisory.

Effectively, a user accidentally stole hundreds of wallets simultaneously, and then set them on fire in a panic while trying to give them back.

“We are analysing the situation and will release an update with further details shortly,” Parity told users."

snip

https://www.theguardian.com/technology/2017/nov/08/cryptocurrency-300m-dollars-stolen-bug-ether

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Hackers swipe over $64mn in bitcoin from cryptocurrency marketplace NiceHash

Dec. 7, 2017  Dado Ruvic

"After a mysterious 12-hour service outage, the popular cryptocurrency mining exchange NiceHash announced hackers stole an unknown amount of money from users. One bitcoin wallet gained more than $64 million within a matter of minutes.
On Wednesday, NiceHash announced there was a security breach involving the company’s website which compromised their payment services, and the contents of the users’ bitcoin wallets. The announcement came 12 hours after NiceHash suddenly informed users that they were carrying out maintenance.

"app-facebook
NiceHash
on Wednesday
Dear NiceHash users!
Unfortunately, there has been a security breach involving NiceHash website. We are currently investigating the nature of the incident and, as a result, we are stopping all operations for the next 24 hours.
Importantly, our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. We are working to verify the precise number of BTC taken....
See More"

Two hours later, a user by the name of Erik Callesen posted an image showing an outgoing transaction he claimed he did not make.

“Either I got hacked or something is up,” Callesen wrote.

Callesen added that $56 million had been sent to one bitcoin wallet address.

“I think I got jacked and probably a lot of other folks?” Callesen wrote.

Many other users responded to the company’s maintenance tweet, saying they had money stolen."

snip

https://www.rt.com/usa/412223-nicehash-bitcoin-hacked-million/#.WijYyZHOU7w.facebook

 

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People are taking out mortgages to buy bitcoin, says securities regulator

Dec. 11, 2017   Michelle Fox

snip    video


"Bitcoin is in the "mania" phase, with some people even borrowing money to get in on the action, securities regulator Joseph Borg told CNBC on Monday.

"We've seen mortgages being taken out to buy bitcoin. … People do credit cards, equity lines," said Borg, president of the North American Securities Administrators Association, a voluntary organization devoted to investor protection. Borg is also director of the Alabama Securities Commission.

"This is not something a guy who's making $100,000 a year, who's got a mortgage and two kids in college ought to be invested in."

Bitcoin has been soaring all year, starting out at $1,000 and rocketing above $19,000 on the Coinbase exchange last week. The price on Coinbase, which accounts for a third of bitcoin trading value, is often at a premium over other exchanges.

The cryptocurrency was trading at just under $16,700 on Coinbase at 2:21 p.m. New York time Monday.

"You're on this mania curve. At some point in time there's got to be a leveling off. Cryptocurrency is here to stay. Blockchain is here to stay. Whether it is bitcoin or not, I don't know," Borg said in an interview with "Power Lunch."

He also doesn't think futures contracts legitimize the digital currency.

Bitcoin futures, trading under the XBT ticker symbol, debuted on the Cboe futures exchange on Sunday night. The CME plans to launch its bitcoin futures Dec. 18."

snip

https://www.cnbc.com/2017/12/11/people-are-taking-out-mortgages-to-buy-bitcoin-says-joseph-borg.html

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Cryptocurrency market crashes 20 per cent as website ditches South Korean exchange data

BITCOIN and other cryptos have crashed by more than $200 billion in value — due to a single data change which left investors furious.

JANUARY 9, 20186:35PM

Link:  http://www.news.com.au/finance/money/investing/cryptocurrency-market-crashes-20-per-cent-as-website-ditches-south-korean-exchange-data/news-story/ecc5f4dcab56b5f3da31b803b1db4446?utm_content=SocialFlow&utm_campaign=EditorialSF&utm_source=News.com.au&utm_medium=Facebook

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Is someone in North Korea mining Monero cryptocurrency using hacked computers?

Published time: 8 Jan, 2018 22:38

Source:  www.rt.com/news

Link:  https://www.rt.com/news/415306-north-korea-monero-malware/

 

Is someone in North Korea mining Monero cryptocurrency using hacked computers?

A US cybersecurity firm claims it has found evidence of hacked computers sending coins to a North Korean university after being infected with cryptocurrency mining malware. But government-linked hackers are not behind the attacks.
According to a report by the American cybersecurity firm AlienVault, the software hides itself among legitimate files and programs, and uses the computer in which its embedded itself to mine the cryptocurrency Monero. The mined coins are then sent on to a server based at Kim Il Sung University in Pyongyang.

The malware – which installs itself as intelservice.exe in what is likely an attempt to hide among legitimate products from Intel Corp – was identified by AlienVault through a database of computer viruses put together by the Google subsidiary VirusTotal. Cryptocurrency mining needs a lot of operating power resulting in mounting electricity bills, which is why hackers often try to reassign the task to a network of compromised PC’s under their control.

Snip

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Yes, the blockchain is truly revolutionary. Yes, bitcoin is Tulipmania 2.0. Yes, cryptocurrency is a nail in the coffin of the bankster parasites. Yes, digital currency is a tool of the totalitarian tyrants. No, these statements are not contradictory. But don’t worry if you think they are. You’re just a victim of "The Bitcoin Psyop."

 

 

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I will see if I can get this right (without being technical)  – about “Blockchain”

 

Blockchain is really just a way to compare the same data which is stored on several different computers (‘mirrored’).

So we start off with a whole list of ‘records’ – now these records could just be people’s names and addresses, the stock inventory from a shop, a list of a farmer’s cows, or a list of bank transactions – in other words – anything.

Now, the main thing with a blockchain, is the Checksum (actually a ‘Hash’), is calculated from the record’s fields PLUS (and this is the important bit) the previous record’s Checksum.

So if anyone changes a field, they also have to change the Checksum, but, changing that Checksum will change the Checksums for all the following records – bingo, it “does not compute”.

 

So:-

Date/Time                                         Name                   Account#             Amount            Checksum

2016/03/21-11:23:46.836             Fred Smith           983475                 $5932                   M45A6P

2016/03/22-14:11:12.281             Bob Brown           417462                 $8912                   9YZ44N1

2016/04/02-08:45:26.935             Jack Jones           632190                 $2675                   BWL38Q

 

So, for example, if someone changes Bob Brown’s amount to $12482, that will also need the Checksum changed, say to ‘28G9CR’, but if we change Bob’s Checksum, then the Checksum for Jack Jones won’t work out either, so that will need to be changed as well – on and on...

Now, we have this same data stored on 4 or 5 computers, and we can only get access to 1. When the computers go and compare their records, we have 4 -V- 1 in voting for accuracy, and since the 1 instance is ‘out-voted’, we are instantly told of where the error/fraud is, and which record, while better still, there is still an accurate record that is proven correct.

 

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Russian nuclear scientists arrested for 'Bitcoin mining plot'

Feb. 9, 2018

"Russian security officers have arrested several scientists working at a top-secret Russian nuclear warhead facility for allegedly mining crypto-currencies.

The suspects had tried to use one of Russia's most powerful supercomputers to mine Bitcoins, media reports say.

The Federal Nuclear Centre in Sarov, western Russia, is a restricted area.

The centre's press service said: "There has been an unsanctioned attempt to use computer facilities for private purposes including so-called mining."

The supercomputer was not supposed to be connected to the internet - to prevent intrusion - and once the scientists attempted to do so, the nuclear centre's security department was alerted. They were handed over to the Federal Security Service (FSB), the Russian news service Mash says.

"As far as we are aware, a criminal case has been launched against them," the press service told Interfax news agency.

Crypto-currencies like Bitcoin do not rely on centralised computer servers. People who provide computer processing power to the crypto-currency system, to enable transactions to take place, can get rewards in Bitcoins."

snip

http://www.bbc.com/news/world-europe-43003740

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