A cyberheist at a little-known virtual currency exchange helped wipe billions of dollars off the value of bitcoin and other digital currencies. South Korea’s Coinrail announced that it had been targeted the hacker news bitcoin cyberthieves. Coinrail said it had temporarily suspended trading in digital currencies and was t4240 gflops for bitcoin cooperating with investigators to try to track down the missing funds. The exchange did not disclose the value of tokens stolen.
The theft was of less well-known cryptocurrencies rather than bitcoin itself. South Korea has emerged as a hotbed for trading in virtual currencies over the last year. Coinrail is one of its less-well-known trading platforms. 30 billion in cryptocurrency wealth was wiped in about seven hours of trading, according to data provider Coinmarketcap. 6,750 in early afternoon trading in Asia. That’s near its lowest level in about two months and around half the price at which it started the year.
Adrian Lai, founding partner at Hong Kong-based investment firm Orichal Partners. At this stage, obviously, the standard is not high enough. Theme: Daily Magazine by AF themes. Is Bitcoin Mining Profitable or Worth it in 2018? The early days of Bitcoin mining are often described as a gold rush. Those with a strong interest in such things, namely cypherpunks, cryptographers, technically-minded libertarians and assorted hackers, were first to stake their claim. But is there still gold in them thar hills?
Bitcoin mining has grown from a handful of early enthusiasts into a cottage industry, into a specialized industrial-level venture. The easy money was scooped out a long time ago and what remains is buried under the cryptographic equivalent of tons of hard rock. Only those with specialised, high-powered machinery are able to profitably extract bitcoins nowadays. While mining is still technically possible for anyone, those with underpowered setups will find more money is spent on electricity than is generated through mining. In other words, mining won’t be profitable at a small scale unless you have access to free or really cheap electriciy. A new block is created on average every ten minutes. Proof of Work Hashing: This is the cryptographic work which miners perform in order to find the solution which allows them to define a new block.