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Showing posts with label bitcoin news online. Show all posts
Showing posts with label bitcoin news online. Show all posts

Maybe Bitcoin Miners Can Help Pay For Pirated Games!


This past few weeks a lot of reports suggests that a pirate release of game Watch Dogs contained a Bitcoin Miner. While no one wants their machine infected with unwanted software, could and authorized installation of a bitcoin miner on users' machines generate enough revenue for a developer to give his game away for free?

While it's no secret that some pirate games releases contain malware, during the past few days a more unusual story has been doing the rounds. According to a GameCrastinate report, this week thousands of BitTorrent users inadvertently became infected with Bitcoin-mining malware.

The problem apparently stemmed back to a leaked PC version of the much-anticipated game Watch Dogs from Ubisoft Montreal. While there was never any suggestion that the company had anything to do with it, the assumption has been that whoever leaked the game thought they could make a few dollars by installing the trojan on pirates' machines.

While there appears to be very little hard proof that the trojan ever existed or indeed spread on the suggested scale, the idea that tens or even hundreds of thousands of computers could be hijacked to generate mountains of dollars for a third-party gained a lot of traction in the press.

The idea of a sneaky trojan install is likely to annoy just about everyone, but what if a similar process could be put to a more creative and authorize use? What if a developer allowed his game to be shared online for free but in return installed a Bitcoin miner on downloaders' machines to generate revenue to pay for the software? That question was emailed to TorentFreak this week and while we had our doubts over the idea's viability, it could be pretty cool if it somehow came to pass. We promised to find out whether this was a crazy idea or a flash of genius.

Last year, Ars Technica bought a dedicated miner for $274 capable of magically churning out around 20$ in bitcoin every day. Sure it gobbled up %11 a year in electricity, but as a financial prospect it was a pretty safe bet. Gamers tend not to own dedicated mining hardware, but people playing game like Watch Dogs more often than not will have rather juicy graphics cards on board which could be coaxed into a bit of mining. Question is, would they be up to the task?

Roger Ver, an angel investor in several Bitcoin startups including Blockchain.info, BitcoinStore and BitPay, has been referred to in the press as the Bitcoin Jesus. In his opininon, could the "Watch Dog hackers" who sparked this story make much money with their illegal trojan?

"It depends a lot on the machines hardware, but to the hacker it is all profit since he doesn't have to pay for any of the hardware or electricity costs" Said Ver.

So with free money for the hackers established, we come back to the key question: could a Bitcoin miner installed with the permission of the downloader generate enough fractions of a single bitcoin on a single machine to keep the developer happy, in Watch Dogs' case, to the tune of around $60? Ver was quick to disappoint.

"This isn't viable any longer," said Ver. "There are so many people mining bitcoins using specialized ASIC hardware that  home computer isn't very effective any more." So the idea of mining bitcoin in order to generate revenue from people who can't or won't pay for their games is a no-go.

Source: torrentfreak.com

Coindesk On App Store!

Coindesk Bitcoin App Now Available for Iphone!


Coindesk has released an iOS application featuring the latest bitcon news and analysis, Bitcoin Price Index, a price chart, currency converter and price alert notifications.

Users can check the real-time bitcoin price on the app's homepage which combines price and network pages from the websites. Users have the option to toggle between the bitcoin price and network statistics. Currently, the homepage features the USD price index, but users can take advantage of the currency calculator tab to view the price in their currency of choice. The bitcoin price is based on Bitcoin Price Index data.

The homepage also shows overview statistics, including: daily highs, lows, dollar amount changes, current market cap and the total number of bitcoins in existence. Users can select the charts page to view closing price and open-high-low-close (OHLC) bitcoin charts for the day, month and week.


All the news, analysis and opinion features available on the Coindesk website can be accessed via the app. The news reader showcases the most recent cryptocurrency stories at the top, but users can also take advantage of the search bar to navigate through the Coindesk archives. The app also features a bitcoin alert tab that can be customized to a minimum and maximum price. Once a price is selected, the app will notify you when one bitcoin reaches the specified price. It is launched today, the app is now available for download from the App Store for free. Android version of the application will be launch in no time!

Source: coindesk.com

Can Bitcoin be the Next Internet?


Bitcoins Future!

Everyone who encounters bitcoin for the first time grapples with how it works, and what it means. The former is relatively easy enough to learn, the latter however is something that everyone seems to have a different opinion on. ‘Is bitcoin the next Internet?’ seems to be the question behind many news articles and passionate debates alike.

Entrepreneur and bitcoin advocate Marc Andreessen has most visibly made comparisons between the two, while CNBC reported that many more venture capitalists thought bitcoin could be ‘as big as the Internet’.

Despite the comparisons’ obvious buzz appeal, it’s a serious question with profound implications. How alike are bitcoin and the Internet, and what conclusions can we draw from the comparison?

A natural metaphor

Within the world of monetary theory and finance, bitcoin is unprecedented. It is such a radical concept that most in the field are sceptical that the kind of decentralized technology bitcoin represents is even compatible with the modern economy.

The Internet thus provides an obvious reference point for a technology that seems utterly similar in its decentralization, open-source code, state of development, and most importantly its potential to disrupt on a global scale.

Indeed, if nothing else, the comparison can help effectively communicate the magnitude of bitcoin’s technological achievement.

That’s actually a quote from Eric Schmidt, and he’s talking about the Internet or the ‘network of networks’. Every network it touches it liberates. Already we’ve seen publishing, education, retail, and most famously music and film be disrupted in ways we could not have imagined. Does bitcoin represent just such a moment for banking and finance?

Given the fact that bitcoin cannot be centrally regulated, ‘an experiment in anarchy’ seems like an apt description. However for any bitcoin/Internet comparison to be truly useful and tell us where bitcoin can go from here, we need to compare their characteristics in much closer detail.

Source: coindesk.com