News for hackers. Stuff that matters.

A comment on Bitcoin's mining difficulty has increased by 41.9% over the last 30 days. Parent comment

Re:Bitcoin's mining difficulty has increased by 41.9% over t... by CyberDildonics on Tuesday December 22, 2015 @01:35PM (#10779425)
If a miner gets hacked, then their blocks will go to the attacker, or they won't be mining. Blocks will be mined more slowly and transactions may take longer for the same number of confirmations until the miner comes back. If a bank gets hacked, people steal money enormous amounts of money by directly changing their ledgers. I don't see this as some sort of a loss for cryptocurrencies.

I'm not sure what you mean by turnover although you might want to learn more about bitcoin before you rail so hard against it.

[ Parent | on HN ]
Re:Bitcoin's mining difficulty has increased by 41.9% over t... by gritzko on Tuesday December 22, 2015 @10:55PM (#10781858)
Turnover: the amount of business transacted during a given period of time. How much BitCoins change hands in a month, for example. Actually, plotting that in dollars is even more correct, as electricity costs are not paid with BitCoins.

Ultimately, that is a graph of dollars moved vs dollars wasted. (I explained the difference of "spent" and "wasted" in a different comment.)

[ Parent | on HN ]