NiceHash hacked, Bitcoins worth $70mil gone

[Strawberry]

https://www.cnbc.com/2017/12/07/bitcoin-stolen-in-hack-on-nicehash-cryptocurrency-mining-marketplace.html

Good riddance I say. NiceHash is like a plague for us solo miners. It's a huge farm of lazyass miners which ruins profitability for everyone.
Hopefully it never comes back online.

Hackers address:
https://bitinfocharts.com/bitcoin/ad...h6H4t6jh1mB4rq

[Independent voter]

Is that even the biggest bitcoin robbery?

[Strawberry]

Is that even the biggest bitcoin robbery?

No the largest Bitcoin hack was back in 2014 when hackers stole 750.000 Bitcoins. That's over $11bil in today's value.

This time the exchanges weren't hit but the lazy ass miners. This was not the money people invested but mined.

[GreenJesus]

Regarding bitcoin I also saw this:

https://www.cnbc.com/2017/12/07/valv...olatility.html

Gamers can no longer pay with bitcoin on the gaming platform Steam.

Steam, which is owned by developer Valve Corporation, said in a blog post Wednesday that it could no longer support the virtual currency because of its "high fees" and "volatility".

"In the past few months we've seen an increase in the volatility in the value of bitcoin and a significant increase in the fees to process transactions on the bitcoin network," Steam said.

All bitcoin transactions are recorded on a huge decentralized record of transactions known as the blockchain.

To keep the network ticking, voluntary bitcoin "miners" have to work out complex mathematical solutions to add a transaction to the distributed ledger. In return for their ongoing maintenance of the network, miners are paid transaction fees.

The average transaction fee currently costs $7, according to data from BitInfoCharts. And Blockchain.info shows that miners have made more than $3 million dollars in transaction fees.....

Not much of a currency if every single transaction costs 7 dollars.

[omfgreally]

WTF is a bit coin anyways? and why is fake money worth real money? da fuk?

[gushDH]

WTF is a bit coin anyways? and why is fake money worth real money? da fuk?

Let's just say you would literally be a millionaire if you gave 50 bucks 4 years ago. That's what a bitcoin is.

[DemoBytom]

WTF is a bit coin anyways? and why is fake money worth real money? da fuk?

[omfgreally]

Let's just say you would literally be a millionaire if you gave 50 bucks 4 years ago. That's what a bitcoin is.

So, I can't haz a bite coin?

[Machismo]

I love watching how hard people try and defend pyramid schemes.

[AeneasBK]

Not much of a currency if every single transaction costs 7 dollars.

HAHAHAHAHAHAHAHA. The whole bitcoin pyramid circus just got even funnier

[chubbybunny]

wouldn't even know how to start mining for them...

Guess i've missed out on a lot of free cash

[Strawberry]

Regarding bitcoin I also saw this:

https://www.cnbc.com/2017/12/07/valv...olatility.html



Not much of a currency if every single transaction costs 7 dollars.

HAHAHAHAHAHAHAHA. The whole bitcoin pyramid circus just got even funnier

You know what's even funnier?
Valve complaining that BTC transaction costs $7 when they take 30% cut from every sold game. THIRTY PERCENT CUT.
At least Bill gates and Warren Buffet donated 99% of their riches, what's that fat fuck known as Gabe doing with his billions? Yeah complaining that he's not earning those $7 per transaction (like anyone's buying with Bitcoin anyway).

[AeneasBK]

Valve complaining that BTC transaction costs $7 when they take 30% cut from every sold game. THIRTY PERCENT CUT.
At least Bill gates and Warren Buffet donated 99% of their riches, what's that fat fuck known as Gabe doing with his billions? Yeah complaining that he's not earning those $7 per transaction (like anyone's buying with Bitcoin anyway).

At least Steam actually does something. I'm happy to pay them for the service they provide, and I'm guessing the bitcoin exchanges are appreciated for providing the service they provide re: scamming fools out of their money. It just made me laugh that there was a charge on top, I can't imagine asking people for 20p per pog trade would have been impossible back in the day either.

[Deleted]

The amount of people who ask how bitcoin can be worth real money... because real money is also only worth something because we accept it.

[AeneasBK]

The amount of people who ask how bitcoin can be worth real money... because real money is also only worth something because we accept it.

I think the point people are trying to make is that outside of a very small number of online businesses (or Japan apprently) you can't spend bitcoins like you can spend money you can only sell them to other bitcoin traders. SO unless you'vegot vested interest in said small number of businesses (or you need to move your wealth out of a 3rd world country) they are essentially virtual pogs.

[Strawberry]

At least Steam actually does something. I'm happy to pay them for the service they provide, and I'm guessing the bitcoin exchanges are appreciated for providing the service they provide re: scamming fools out of their money. It just made me laugh that there was a charge on top, I can't imagine asking people for 20p per pog trade would have been impossible back in the day either.

People say Bitcoin is in a bubble.
But it seems some people live in a bubble as well.

[Deleted]

Official response from NiceHash:
https://www.reddit.com/r/NiceHash/co...t_by_nicehash/

Long story short: if you own bitcoin, never ever keep it on a website. Keep it in your offline wallet. That way if a site goes down or whatever, your bitcoin is fine. Seems like it's still not obvious for some people.

NiceHash will most likely return money. Soon enough we will find out.

Clueless people might even think possessing BTC is not safe. It is. It is not safe to keep your money in external sites and never was. PayPal can go down too, why not.

[AeneasBK]

But it seems some people live in a bubble as well.

Not sure if this was meant to be profound but yes, EVERYONE lives in a bubble. IT is known.

[SL1200]

So, bitcoins are worth 1500 dollars or so. How would you use it to buy games anyway? Are there bit pennies or something? Or you get change in some other currency?

[Mormolyce]

Regarding bitcoin I also saw this:

https://www.cnbc.com/2017/12/07/valv...olatility.html

You could pay with bitcoins on Steam?

WTF is a bit coin anyways? and why is fake money worth real money? da fuk?

Short version, it's a currency you use to buy crack, hookers and hitmen; and all money is fake, money works if enough people believe in it. Kind of like dragons in Terry Pratchett books.

Not sure if this was meant to be profound but yes, EVERYONE lives in a bubble. IT is known.

*Nods*