Sorry everyone for the lack of new content to the site, I have been battling a fault that has been preventing me from posting anything. I still never got to the bottom of the issue but it looks like all the poking about got it working.

I’m pretty busy at present but I will try and find the time.

 

Just as a quick update I am no longer mining Bitcoins, I sold my Jalapeno just before Christmas as the difficulty meant it wasn’t making much more than the cost and I had an offer from someone at a price higher than I paid for it. To anyone out there looking to buy Jalapenos I can tell you that your not going to make much money on them if anything, I will try and get a decent post written about it.

 

E-Sports Entertainment settles Bitcoin botnet allegations

A video games company has agreed to settle a case in which it was accused of 
hijacking its customers’ computers to create Bitcoins.

It had been alleged about 14,000 of its customers’ PCs had been used to generate the virtual currency in April.

E-Sports Entertainment has agreed to pay the State of New Jersey $1m (£620,000) to resolve the case.

However, it can avoid handing over $675,000 of that if it Read More →

Bitcoin Value and what it means for miners

I have been mining for over a year near now and since then I have seen the value of Bitcoins rise, fall and rise again. Last year they where about £6 each, now they are over £500 and still shooting up. My worry is that this uncontrolled price rise is due to Read More →

 

 ‘Legitimate’ Bitcoin’s value soars after Senate hearing

The value of virtual currency Bitcoin has soared to over $900 (£559), after a US Senate committee hearing.

The committee was told that virtual currencies were a “legitimate financial service” with the same benefits and risks as other online payment systems.

US Senate building

The Homeland Security and Governmental Affairs Committee is exploring the “promises and risks” of Bitcoin for “government and society at large”.

The currency has more than trebled in value since October. Read More →

 

A man who ran an online “wallet service” for storing Bitcoins has claimed hackers stole virtual currency from his site worth more than one million Australian dollars.

The Australian man said 4,100 Bitcoins (US$1.04m, £650,000) were taken in two separate attacks.

He said he would not report the theft to police as Bitcoin transactions are virtually impossible to trace.

This has led some users to speculate whether it was an “inside job”. Read More →

 

A $22 (£14) investment in the virtual currency Bitcoin four years ago has brought a Norwegian man an unexpected windfall of about $850,000.

The staggering appreciation of the Bitcoin meant Kristoffer Koch, 29, was able to buy an upmarket flat in Oslo by selling a fifth of his 5,000 coins.

Mr Koch, 29, said he only remembered about his investment after reading reports of the currency’s rising value.

The extremely volatile currency is increasingly used for web transactions.

Mr Koch said that he had suddenly realised that his 5,000 Bitcoins were worth about $850,000.

Read More →