Bitcoinica hacked. ~$100k USD stolen.

Re:Bitcoinica hacked. ~$100k USD stolen. by ChuckMcM on Friday May 11, 2012 @05:48PM (#3961597)

This is an intriguing parallel. I'm only personally familiar with World of Warcraft gold farmers, but have read about Eve, Star Wars, even Everquest folks trading goods/gold for real $$.

So computationally, I wonder what the cost to 'mine' a bitcoin is, vs the cost to 'generate 1000 gold' in an MMO that sells for an equivalent amount? I will definitely have to add this to my never ending book project.

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Re:Bitcoinica hacked. ~$100k USD stolen. by michaelbuckbee on Friday May 11, 2012 @06:07PM (#3961693)

I was referring to more of a cultural feel and my own reactions, I never made the link of computation to computation, we need an economist to weigh in on this.

Also, if you find this sort of thing intriguing you might enjoy Charles Stross's Halting State - http://www.amazon.com/Halting-State-ebook/dp/B000W9180A/

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Re:Bitcoinica hacked. ~$100k USD stolen. by TazeTSchnitzel on Friday May 11, 2012 @07:02PM (#3961909)

The cost to "mine" a bitcoin isn't constant, the network is self-regulating and the difficulty increases over time, to ensure a certain rate of supply.

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