Category Bitcoin and Litecoin Mining

Looking to add more gpus to my mining rig…wonder if this will work…

Ahh the possibilities…

PCIe2-460 PCI Express Gen2 Expansion Backplane

 

KnCMiner Sells $2 Million worth of Titan Script Mining Machines in 4 Hours

knctitanmining

Each one of these units selll for $9,995 each. While selling  200 units  is a good start, the company wants to sell 2500 units with this first offering . The Titan Mining Machine is targeted at mining alternative coins like Litecoin and Dogecoin. The unit is rated at 100 MH/s. The typical Radeon R9 290X is rated at 850 KH/s, or just under 1/mhz so you would need around 117 R9 290X’s to achieve the same hashing power.

With this machine coming to market, those who have spent a massive amount of money on multiple mining machines with expensive GPUs may look to this as another possibility . When you do the math, with the Titan’s current hash rate and current exchange rates of current crypto-currency it would take just over  a month for to get their $10,000K investment returned from purchasing the Titan.

The Titan is expected to ship sometime in the second or third quarter of 2014.

Updated list of large companies that accept bitcoin (March 2014):

I was shocked at quite a few of these. The list is growing daily. 

  • WordPress.com – An online company that allows user to create free blogs
  • Overstock.com – A company that sells big ticket items at lower prices due to overstocking
  • Amazon – An online company that sells almost anything.
  • Target – An American retailing company
  • CVS – A pharmacy shop
  • Subway – Eat fresh
  • Victoria’s Secret – A lingerie outlet
  • Namecheap - Domain hosting company
  • Bitcoin.Travel – a travel site that provides accommodation, apartments, attractions, bars, and beauty salons around the world
  • Pembury Tavern – A pub in London, England
  •  Old Fitzroy – A pub in Sydney, Australia
  • The Pink Cow – A diner in Tokyo, Japan
  • Virgin Galactic - Richard Branson company that includes Virgin Mobile and Virgin Airline
  • The Pirate Bay - BitTorrent directories
  • Reddit – You can buy premium features there with bitcoins
  • Zynga – Mobile gaming
  • PayPal / Ebay (in the works/coming soon)
  • Tesla – The car company
  • OkCupid – Online dating site
  • 4Chan.org – For premium services
  • EZTV – Torrents TV shows provider
  • Mega.co.nz – The new venture started by the former owner of MegaUpload Kim Dotcom
  • Lumfile – Free cloud base file server – pay for premium services
  • Etsy Vendors – 93 of them
  • PizzaForCoins.com - Domino’s Pizza signed up – pay for their pizza with bitcons
  • Tigerdirect – Major electronic online retailer
  • CheapAir.com – Travel booking site for airline tickets, car rentals, hotels
  • Zappos – Online retailer
  • Whole Foods – Organic food store (by purchasing gift card from Gyft)
  • Bitcoincoffee.com – Buy your favorite coffee online
  • Grass Hill Alpacas – A local farm in Haydenville, MA
  • Jeffersons Store - A street wear clothing store in Bergenfield, N.J
  • Helen’s Pizza - Jersey City, N.J., you can get a slice  of pizza for 0.00339 bitcoin by pointing your phone at a sign next to the cash register
  • A Class Limousine - Pick you up and drop you off at Newark (N.J.) Airport
  • Fiverr.com – Get almost anything done for $5
  • Seoclerks.com – Get SEO work done on your site cheap

Bitcoin service Flexcoin Shuts Down After Massive Theft

Guys , Ill keep saying these two words until you guys get it : “decentralized currency”!!!  In other words, YOUR ON YOUR OWN!!! It is not insured like FDIC, it is not governed or regulated , in any way shape or form. When its lost or stolen in any way, LAW ENFORCEMENT WONT HELP YOU!!! When you lose your stash, your SOL! Here is another fact: These hackers KNOW law enforcement probably wont step in. When was the last time you heard about a bank robbery, or a hack of a large regulated bank, and the government did nothing? The government will hunt you down like a dog , if you rob a bank, because most of THAT money is theirs :) The government HATES decentralized currency because they cant monitor or control it, and probably will laugh at you if you try to report a theft. 

Here is the article:

The Bitcoin bank Flexcoin said today that it will be closing its doors after a massive theft of all of its Bitcoins. Hackers cleaned them out of 896 Bitcoins, which are worth  around $600,000.

Flexcoin was one of the few Bitcoin services that did offer HTTPS encryption, but I guess that made no difference as hackers were able to go in and steal the everthing, anyway. Flexcoin stated that they will be shutting down right after the theft. “As Flexcoin does not have the resources, assets, or else to come back from this loss, we are closing our doors immediately. ” Flexcoin did mention that they were working  with law enforcement to try and track the source of the hack.

Flexcoin said that it would not be liable for the theft as in its “terms of service” clearly staes that Flexcoin, “is  not responsible for insuring any Bitcoins stored in the Flexcoin system. ” There might be some good news though, Flexcoin did mention that some of its Bitcoins were stored in its offline storage and those were still intact and that it might begin contacting users to return those Bitcoins.

Was the Mt. Gox loss of over $400 Million an inside job? Some hackers are out to prove there was no loss at all, and that Mt. Gox intentionally stole the money!

Following MtGox Bitcoin exchange losing millions to a hack and filing for bankruptcy, anonymous attackers took over the personal blog and reddit account of MtGox CEO Mark Karpeles on Sunday. After seizing those accounts , the hackers posted a message to pastebit detailing their findings and the reasoning behind the attack.

FURTHER READING

HAVING LOST $468 MILLION IN BITCOINS, MTGOX FILES FOR BANKRUPTCY PROTECTION
CEO tells Ars: “I cannot comment much for the present time, ” compares to Chapter 11 in US.
“It’s time that MTGOX got the bitcoin communities [sic] wrath alternatively of Bitcoin Community getting Goxed, ” the message reads. “This release would have been sooner, but in spirit of responsible disclosure and making sure most of ducks were in a row, it took a couple of days longer than would have liked to verify the data… One of them down load you will find relevant database dumps, csv exports, specialized tools, and some highlighted summaries compiled from data. Keeping in line with f—- Gox alone, no user database dumps have been included. ”

Forbes reports the 716 megabyte file placed on Karpeles’ site included items like his home address, CV, and an Excel spreadsheet that appears to document more than a million trades. But the most interesting piece of information shared is a summary of 18 different currency balances-with 951, 116 bitcoins listed. In light of the 850, 000 bitcoins supposedly lost in the recent attack, the hackers concluded this figure demonstrates fraud. The footnote reads, “That fat f–k has been lying!! ”

Despite the hack making noise around the Internet today, this leak isn’t yet guaranteed evidence of foul play. As Forbes notes, the balances could be a case of awful bookkeeping (it’s not too far-fetched that MtGox was unaware of the hack for awhile), and Karpeles has yet to come back to that site’s request for comment.

Even Hitler got Goxed.. Hitler gets Goxed