5 videos that summarize Bitcoins and Blockchains w/o bias
What is not generally mentioned:
cryptojacking-attacks- With the growing popularity (and value) of cryptocurrencies, the focus of these attacks is now cryptojacking and attackers are looking to steal computer’s cycles as a way to get cash.
- we must emphasize that, in this case, the attackers only cared about using the end-users’ CPU to mine crypto. What could have happened if their motivations and intent were different?
Fortuna,
Pedro. “How to protect your website from cryptojacking attacks.” The
Next Web, 9 Mar.
2018,
thenextweb.com/contributors/2018/03/10/protect-website-cryptojacking-attacks/.
We Need To Shut Bitcoin And All Other Cryptocurrencies Down. Here's Why.
- it’s positioned to run amuck, taking over computers, networks, data centers, and cloud environments around the world.
- At the heart of Bitcoin, and by extension most if not all altcoins (cryptocurrencies other than Bitcoin), is the notion of a permissionless blockchain. With a permissionless (generally known as ‘public’ or ‘open,’ with few exceptions) blockchain, anyone can create an address and interact with the network
- Permissioned blockchains aren’t the subject of this article, however. They may struggle with scalability and in the end cost too much, but they don’t have the fundamental flaw that the permissionless blockchains that underlie cryptocurrencies do.
- Infiltrating our computers and networks is dead simple – all it takes is one phishing victim, one visit to a malicious web page, or one person downloading a fake app from an app store, and bam! The hacker is inside.
Bloomberg,
Jason. “We Need To Shut Bitcoin And All Other Cryptocurrencies Down. Here's
Why.” Forbes, Forbes Magazine, 10 Mar. 2018
- Bitcoin mining—the complex process in which computers solve a complicated math puzzle to win a stack of virtual currency—uses an inordinate amount of electricity
- There have been disputes between miners and locals, bankruptcies and bribery attempts, lawsuits, even a kind of intensifying guerrilla warfare between local utility crews and a shadowy army of bootleg miners who set up their servers in basements and garages and max out the local electrical grids.
- When you pay someone in bitcoin, you set in motion a process of escalating, energy-intensive complexity.
Roberts,
Paul, et al. “This Is What Happens When Bitcoin Miners Take Over Your Town.” POLITICO
Magazine
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