[HigherSpektrum]

"Highly professional" hackers made off with around 4,700 Bitcoin from a leading mining service, a Bitcoin exchange has said.

The value of Bitcoin is currently extremely volatile, but at the time of writing, the amount stolen was worth approximately $80m.

The hacked service was NiceHash, a Slovenia-based mining exchange.
It said it was working hard to recover the Bitcoin for its users, adding: "Someone really wanted to bring us down."

The attack happened early on Wednesday, said NiceHash's chief executive Marko Kobal. Attackers accessed the company's systems at 01:18 CET (00:18 GMT). By 03:37 the hackers, whom the company believes were based outside the European Union, had begun stealing Bitcoin.

The theft comes as the price of Bitcoin continues to surge, dumbfounding experts and stoking concerns of a bubble.

High-stakes attacks like this are not uncommon, with several large breaches and thefts hitting Bitcoin and other related services over the past year.

NiceHash is a mining service, a company that pairs up people with spare computing power with those willing to pay to use it to mine for new Bitcoin.

Lucky fucks! Have fun guys

http://www.bbc.com/news/technology-42275523

[Coreym07]

Hahaha

[Steve]

I don't know how bitcoin works, I don't really want to, £££££ will do very muchly thank ya.

[Desensitisation]

Eh. I'm making a tidy profit off it. Just have to ride out the bubbles. It's no better than playing the stock market though.

[HigherSpektrum]

Originally Posted by Desensitisation ↗

Eh. I'm making a tidy profit off it. Just have to ride out the bubbles. It's no better than playing the stock market though.

Same here

[eyeful_hound]

Originally Posted by Desensitisation ↗

Eh. I'm making a tidy profit off it. Just have to ride out the bubbles. It's no better than playing the stock market though.

I might suggest getting out, while you can. The hype is, someday it will take over more transactions world wide than credit cards. Everybody wants to talk about it scaling to that size.

The problem is - it can't. Well, it can, but nobody will want to deal with it. The problem is what keeps it secure. The block chain database keeps every transaction from the beginning of time, it is what makes sure that every coin can be traced and accounted for. You can never purge the database, cause you'd loose security or reliability. The problem is, that database is about 150 gigabytes in size currently.

Bitcoin handles about 300,000 transactions a day. Visa/MC/etc handle about 2 billion a day. The increase in price is because people expect it to become more accepted worldwide. Today it can take 10 minutes to finalize a transaction because the miner/processor computers have to hash the block chain database and verify the transaction, then enough of them have to agree before the transaction can be confirmed.

So what happens when Bitcoin starts processing a billion transactions a year or just 2.7 million a day and that block chain database grows to 1 terrabyte in size? Will users world wide still be satisfied with the performance when it takes hours to verify a transaction? At what point will they not be ok with the transaction delay? At half a billion transactions a day it might take two weeks to verify a transaction, and the more years of transactions that build up the database, the worse it gets.

[HigherSpektrum]

I cashed out on the 17th just in time