Big in Venezuela: Bitcoin Mining

Hyperinflation has driven thousands to seek out unorthodox currency.

From The Atlantic.com In Venezuela, home to some of the worst hyperinflation since the Weimar Republic, a Big Mac costs about half a month’s wages. Or rather, it did, until a bread shortage forced the burger off the menu. The annual inflation rate is expected to hit 1,600 percent. Life resembles an old newsreel: long lines, empty shelves, cashiers weighing stacks of bills.

To survive, thousands of Venezuelans have taken to minería bitcoin—mining bitcoin, the cryptocurrency. Lend computer processing power to the blockchain (the bitcoin network’s immense, decentralized ledger) and you will be rewarded with bitcoin. To contribute more data-crunching power, and earn more bitcoin, people operate racks of specialized computers known as “miners.” Whether a mining operation is profitable hinges on two main factors: bitcoin’s market value—which has hit record highs this year—and the price of electricity, needed to run the powerful hardware.

Continue reading Big in Venezuela: Bitcoin Mining

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Latest CIA Hacking Tools Used to Propagate XMR Monero Digital Currency Mining – XMR Rises 50%

“It’s Much Bigger Than WannaCry”: New Stealthy Cyberattack Could Dwarf Last Week’s Global Worm Epidemic

Another large-scale, stealthy cyberattack is underway on a scale that could dwarf last week’s assault on computers worldwide, a global cybersecurity firm told AFP on Wednesday.

Meet Adylkuzz – the new cyberattack that “is much bigger than WannaCry.”

Continue reading Latest CIA Hacking Tools Used to Propagate XMR Monero Digital Currency Mining – XMR Rises 50%