BitCoin: Should I Sign Up?

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Witness
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Re: BitCoin: Should I Sign Up?

Postby Witness » Wed Sep 13, 2017 9:10 pm

Business Insider wrote:Bitcoin's insane value makes it an attractive hacking target for cash-strapped North Korea

North Korea, facing a wide range of UN sanctions on exports and trade, has turned to another asset class to try to keep the money flowing: cryptocurrencies.

According to a report by the security researcher FireEye, North Korean hackers have shown increasing interest in carrying out bitcoin attacks.

Cryptocurrency attacks linked to North Korea started in 2016, and they "marked a departure from previously observed activity of North Korean actors employing cyber espionage for traditional nation state activities," FireEye said. In other words, North Korea's hackers had swapped their usual cyberspying for theft.

Specifically, the hackers began targeting South Korean cryptocurrency exchanges. Since May this year, FireEye wrote, there have been three attacks alone, one of which has been successful. FireEye didn't name the exchange.

The hackers also compromised an English-language bitcoin news website in 2016, though again FireEye didn't say which.

And in April, hackers compromised four cryptocurrency wallets on Yapizon, a South Korean exchange, though FireEye said there wasn't a clear link to North Korea.
http://uk.businessinsider.com/north-korea-hackers-more-bitcoin-attacks-2017-9

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Abdul Alhazred
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Re: BitCoin: Should I Sign Up?

Postby Abdul Alhazred » Wed Sep 13, 2017 11:45 pm

... invent a currency out of thin air and think that people who are buying it are really smart ...


Governments do that all the time.

I think Lister is right. The guy is about to short a lot of Bitcoin.
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Re: BitCoin: Should I Sign Up?

Postby Grammatron » Wed Sep 13, 2017 11:53 pm

Abdul Alhazred wrote:
... invent a currency out of thin air and think that people who are buying it are really smart ...


Governments do that all the time.

I think Lister is right. The guy is about to short a lot of Bitcoin.


I've looked into it and it's insanely expensive to short Bitcoin.
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Re: BitCoin: Should I Sign Up?

Postby Anaxagoras » Thu Nov 02, 2017 8:36 am

Bitcoin Surges Past $7,000 to Extend Record Rally :notsure:

Man, if only we had been true believers and not skeptics when this thing started. We could have all been millionaires. :De_Bunk:

When Rob started this thread, what was it, a few pennies? About $10 or something like that? Even if you bought at the beginning of this year you could have made a 700% profit.

I still think it will all end in tears eventually, but I guess I could be wrong. Still not going to risk my money though.

Anyone can start a new "cryptocurrency" and indeed there are many others. Why is a bitcoin inherently more valuable than the others? Because it was first?
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Re: BitCoin: Should I Sign Up?

Postby Anaxagoras » Thu Nov 02, 2017 9:38 am

Cryptoshuffler Proves Bitcoin Owners Susceptible to Malware, Steals $150,000

The modus operandi of CryptoShuffler is very simple - It strikes when a user copies a Bitcoin address onto the clipboard, presumably to paste it in the destination address of his wallet and send across Bitcoins. Cryptoshuffler then replaces the address in the clipboard with an address owned by the malware creator. Unless a user notices that the address he has pasted is different, the funds will be transferred to the malware creator. Given Bitcoin transactions' irrevocable nature, the user has no way to retrieve his Bitcoins once the transaction is confirmed.
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