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Bitcoin Thefts Surge, DDoS Hackers Take Millions

Cryptographic currency's massive rise in value leads to a corresponding increase in online heists by criminals seeking easy paydays.

(Source: zcopley)
(Source: zcopley)

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User Rank: Apprentice
1/3/2014 | 10:51:16 AM
Bitcoin Pools/Exchangers DDoS Protection
The size and amount of DDoS attacks is constantly growing, especially when it comes to Bitcoin - be it Exchangers, Mining Pools, Forums or anything really. Especially Bitcoin mining pools are targeted by DDoS attacks lately and if you operate one, you should always consider to keep it DDoS protected from the beginning, to avoid your miners leaving as soon as a DDoS attack hits.
User Rank: Apprentice
12/22/2013 | 9:15:55 AM
Myriad Development of Bitcoin Platform


Bitcoin going to save the global economy, Bitcoins are digital coins transferred from person to person, without using a bank or centralized service. 

Bitcoin is not a system of claims. Bitcoin is a pseudo-commodity, not a claim. People who purchase Bitcoins do not have a claim on anybody, nor does anybody have a claim on them. The biggest difference between bitcoin and other virtual currencies is that bitcoins are the only one which have speculative value. 

CryptoCafe is going to be big in the world of Bitcoin, be sure to sign up for the big  release announcement. The website is owned by a public company called Myriad Interactive, the stock symbol is MYRY and its predicted to be very big!


Myriad Interactive Media Begins Development of Bitcoin Platform

Thanks :)

Lorna Garey
Lorna Garey,
User Rank: Ninja
12/2/2013 | 11:22:07 AM
Old advice applies
My dad always told me to buy low and sell high. Seems like BitCoins are akin to junk bonds -- maybe worth buying low at $3 for the novelty, see if they appreciate. But that's not the basis for long-term success as a currency.
Li Tan
Li Tan,
User Rank: Apprentice
12/1/2013 | 8:55:04 PM
Re: Bitcoin Banking
The bitcoin is something new but the concept is not. In Internet world there is this kind of inventions. For example, in China a company named Tencent has so-called "Q coin", which you can use for online transaction but it's not equivalent to bitcoin - you cannot use it in exchange for cash. I believe the trend will continue and in the long run the security will be the biggest concern.
User Rank: Apprentice
11/29/2013 | 1:39:37 PM
Re: Virtual Highway Robbery
As long as the user base will grow so will grow the value of bitcoin. The number of bitcoin wallets on went up from 50 thousands in Jan 2013 to almost 700 thousands now and the growth is accelerating exponentially. The number of users might well grow from 700000 now to over one billion users in 10 years or even before that. At that time everyone will be accepting bitcoins as currency. Since the max number of bitcoins is limited I can only guess what price of bitcoins will be in dollars if dollar will survive by then.
User Rank: Apprentice
11/29/2013 | 4:33:01 AM
Re: Virtual Highway Robbery
Bitcoin is currently more of a asset than a currency. And a crash is not the only risk Bitcoin users face. As the price rises, Bitcoin theft is increasing, both from individuals and from online exchanges.
Joe Stanganelli
Joe Stanganelli,
User Rank: Strategist
11/28/2013 | 5:48:58 PM
Re: Virtual Highway Robbery
Indeed, if your Bitcoins are stolen or lost, it's a lot harder to prove they were yours -- or that you even owned them to begin with!

Some governments are entertaining converting their currencies to entirely digital systems, getting rid of physical cash, so it will be interesting to see how the two systems compare against and evolve with each other.
User Rank: Apprentice
11/28/2013 | 5:24:54 PM
Re: Virtual Highway Robbery
Actually, yes you are right, the dollar too is only backed by a belief that everyone will accept it when a transaction needs to be made, and that the reserve bank will not over produce it. That is the case with any economy with a central bank, and gold also has the same assumptions. If more people use the dollar and it gains mass then it will be more stable.
User Rank: Apprentice
11/28/2013 | 10:14:49 AM
How spend Bitcoin anywhere
Spend bitcoin anywhere in the world.
User Rank: Apprentice
11/28/2013 | 7:07:17 AM
Re: Virtual Highway Robbery
"Bitcoin's volatility and insecurity are big turn offs. I'll stick with the dollar. When, if ever, will bitcoin be ready for primetime?"

Yeah, remember when you read that article about 4 million of actual money being accidentally thrown in the skip, like some guy who did so with a bitchain wallet recently in the news...
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