Thursday, March 28, 2013

Bitcoin miners hit back at cyber-thieves

(BBC) Cyber-thieves are attempting to cash in on the rising value of the bitcoin virtual currency.

Bitcoins have almost tripled in value in a month. In late February one bitcoin was worth £22 ($33) but now each one sells for about £60 ($90).

Thieves who run networks of hijacked PCs are increasingly using these machines to create or "mine" the coins.

But bitcoin miners say thieves will struggle to keep up, as coin-generating technology becomes more sophisticated.Computer cash

As a virtual currency, bitcoins depend on a wide network of closely connected computers to log who holds the coins and where they are spent.

That network also shares information about who is "mining" the coins.

Read full article here.

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