Nicehash Hacked To Tune of $66 Million Worth Of Bitcoin

Subject: General Tech | December 6, 2017 - 09:59 PM |
Tagged: nicehash, mining, hack, Cyber Security, bitcoin

In a recent press release cryptocurreny mining market Nicehash revealed that its payment service was hacked and its BTC payment wallet was emptied. While the company did not reveal the exact amount lost, users on Reddit spent the better part of today worried as the service was initially "under maintenance" for 12 hours amidst suspicious transactions on the blockchain that saw 4,736.42 BTC taken from Nicehash and their Nicehash internal wallets reporting zero balances. The company is currently investigating the precise amount stolen, though estimates around the web put it north of $66 million USD worth of the popular cryptocurrency (at time of writing 1 BTC = ~$13970.50).

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Image courtesy fdecomite via Flickr.

Users that mined to an external wallet for an additional fee are out unpaid balances less than 0.01 BTC, but sadly users that mined to an internal wallet have potentially losts hundreds or thousands of mined bitcoin. Also, purchasers of the Nicehash mining service may have lost the BTC that they paid into the service for alt coin hashing power.

"We are fully committed to restoring the NiceHash service with the highest security measures at the earliest opportunity.

We would not exist without our devoted buyers and miners all around the globe. We understand that you will have a lot of questions, and we ask for patience and understanding while we investigate the causes and find the appropriate solutions for the future of the service. We will endeavour to update you at regular intervals."

Nicehash is further recommending that users of its internal wallets change all of their online passwords (especially any that were similar to the one they used on the site) as a precaution.

The full press release is available here.

In all, it is a devastating hack that is another in a series of high profile crypto currency heists that have traditionally left users out money and the company destroyed. Nicehash has indicated that they have reached out to and are cooperating with the relevant authorities, but unless they are able to find the individual(s) responsible and recover the massive amount of bitcoin it is not looking good.

I hope that the bitcoin is able to be recovered or at least that Nicehash is able to do the right think and compensate its users from its own funds.

This high-profile attack further illustrates the need to use safe bitcoin storage practices and to always hold your own private key in an offline wallet (hardware or paper or at least encrypted software wallet you control at a minimum) for long term storage of funds. Your crypto currency is only truly yours when you alone control the private key(s) and you should only transfer and keep coins on other servers (e.g. exchanges) for as long as it takes to transfer them to your bank or as short a time as possible when trading.

What are your thoughts on this? Did you have money in a Nicehash wallet or unpaid mining balance? Do you plan to venture forth and mine on your own?

Source: Nicehash

AMD Is Very Pleased To Participate in Blockchain Technology

Subject: General Tech, Graphics Cards | December 3, 2017 - 04:26 PM |
Tagged: bitcoin, cryptocurrency, mining, gaming, lisa su, amd, Vega

AMD’s CEO Lisa Su was recently appeared on CNBC’s Power Lunch Exclusinve interview segment where she answered questions about bitcoin, blockchain technology, the tax reform bill, and sexual harassment in the workplace.

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Of particular interest to PC Perspective readers, Dr. Lisa Su shared several interesting bits of information on cryptocurrency mining and how it is affecting the company’s graphics cards. Surprisingly, she stated that cryptocurrency miners were a "very small percentage" of sales and specifically that they represented a mid-single digit percentage of buyers (~4 to 6 percent). This number is hard to believe for me as I expected it to be significantly higher with the prices of graphics cards continuing to climb well above MSRP (it wasn’t too bad when writing our gift guide and shortly after but just as I was about to commit I looked and prices had shot back up again coinciding with a resurgence in mining popularity with the price of cryptocurrencies rising and improving ROI).

Further, the AMD president and CEO states that the company is interested in this market, but they are mainly waiting to see how businesses and industries adopt blockchain technologies. AMD is “very pleased to participate in blockchain” and believes it is a “very important foundational product”. Dr. Lisa Su did not seem very big on bitcoin specifically, but did seem interested in the underlying blockchain technologies and future cryptocurrencies.

Beyond bitcoin, altcoins, and the GPU mining craze, AMD believes that gaming is and continues to be a tremendous growth market for the company. AMD has reportedly launched 10 new product families and saw sizeable increases in sales on Amazon and Newegg versus last year with processor sales tripling and double digital percentage increases in graphics sales in 2017. AMD also managed to be in two of the three gaming towers in Best Buy for the holiday buying season.

Speaking for AMD Dr. Su also had a few other interesting bits of information to share. The interview is fairly short and worth watching. Thankfully Kyle over at HardOCP managed to record it and you can watch it here. If you aren't able to stream the video, PCGamer has transcribed most of the major statements.

What are your thoughts on the interview? Will we ever see GPU prices return to normal so I can upgrade, and do you agree with AMD’s assessment that miners are such a small percentage of their sales and not as much of an influencer in pricing as we thought (perhaps it’s a supply problem rather than a demand problem, or the comment was only taking their mining-specific cards into account?)?

Source: HardOCP
Author:
Manufacturer: Sapphire

Overview

There has been a lot of news lately about the release of Cryptocurrency-specific graphics cards from both NVIDIA and AMD add-in board partners. While we covered the currently cryptomining phenomenon in an earlier article, today we are taking a look at one of these cards geared towards miners.

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It's worth noting that I purchased this card myself from Newegg, and neither AMD or Sapphire are involved in this article. I saw this card pop up on Newegg a few days ago, and my curiosity got the best of me.

There has been a lot of speculation, and little official information from vendors about what these mining cards will actually entail.

From the outward appearance, it is virtually impossible to distinguish this "new" RX 470 from the previous Sapphire Nitro+ RX 470, besides the lack of additional display outputs beyond the DVI connection. Even the branding and labels on the card identify it as a Nitro+ RX 470.

In order to test the hashing rates of this GPU, we are using Claymore's Dual Miner Version 9.6 (mining Ethereum only) against a reference design RX 470, also from Sapphire.

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On the reference RX 470 out of the box, we hit rates of about 21.8 MH/s while mining Ethereum. 

Once we moved to the Sapphire mining card, we move up to at least 24 MH/s from the start.

Continue reading about the Sapphire Radeon RX 470 Mining Edition!

Fine! I'll go build my own blockchain, with blackjack and ...

Subject: General Tech | June 30, 2017 - 02:51 PM |
Tagged: gambling, blockchain, bitcoin, ethereum

Argonaut Software founder and Ethereum guru Jez San’s Funfair project looks to make online gambling more secure with blockchains.  He related a story about how the admins of an online casino site used privileges to view players' cards and pass the information onto accomplices, tilting the odds even more in favour of the house.  With a blockchain every single transaction is publicly recorded and anyone can inspect and audit that record so such nefarious schemes would immediately be spotted.  This also opens up an interesting choice for regulators, who could either embrace the technology and be able to monitor and police it or attempt to ignore or prevent it, in which case they would be totally shut out of the entire process.  This is a very complex idea, for a deeper look into how this could work and the repercussions of it being embraced you can pop over to The Register.

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"One of the brains behind classic Nintendo game Star Fox is launching a blockchain-based online gambling service that could leave regulators stumped – and says he has raised $200,000 from the public to launch it."

Here is some more Tech News from around the web:

Tech Talk

Source: The Register
Author:
Manufacturer: PC Perspective

Why?

Astute readers of the site might remember the original story we did on Bitcoin mining in 2011, the good ole' days where the concept of the blockchain was new and exciting and mining Bitcoin on a GPU was still plenty viable.

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However, that didn't last long, as the race for cash lead people to developing Application Specific Integrated Circuits (ASICs) dedicated solely to Bitcoin mining quickly while sipping power. Use of the expensive ASICs drove the difficulty of mining Bitcoin to the roof and killed any sort of chance of profitability from mere mortals mining cryptocurrency.

Cryptomining saw a resurgence in late 2013 with the popular adoption of alternate cryptocurrencies, specifically Litecoin which was based on the Scrypt algorithm instead of AES-256 like Bitcoin. This meant that the ASIC developed for mining Bitcoin were useless. This is also the period of time that many of you may remember as the "Dogecoin" era, my personal favorite cryptocurrency of all time. 

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Defenders of these new "altcoins" claimed that Scrypt was different enough that ASICs would never be developed for it, and GPU mining would remain viable for a larger portion of users. As it turns out, the promise of money always wins out, and we soon saw Scrypt ASICs. Once again, the market for GPU mining crashed.

That brings us to today, and what I am calling "Third-wave Cryptomining." 

While the mass populous stopped caring about cryptocurrency as a whole, the dedicated group that was left continued to develop altcoins. These different currencies are based on various algorithms and other proofs of works (see technologies like Storj, which use the blockchain for a decentralized Dropbox-like service!).

As you may have predicted, for various reasons that might be difficult to historically quantify, there is another very popular cryptocurrency from this wave of development, Ethereum.

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Ethereum is based on the Dagger-Hashimoto algorithm and has a whole host of different quirks that makes it different from other cryptocurrencies. We aren't here to get deep in the woods on the methods behind different blockchain implementations, but if you have some time check out the Ethereum White Paper. It's all very fascinating.

Continue reading our look at this third wave of cryptocurrency!

Computex 2017: ASRock Launching H110 Pro BTC+ Motherboard With 13 PCI-E Slots

Subject: General Tech | June 2, 2017 - 04:02 PM |
Tagged: asrock, H110, Skylake, bitcoin, cryptocurrency, mining, storj, computex, computex 2017

ASRock showed off an upcoming motherboard at Computex that features 13 PCI-Express slots and is aimed squarely at crypto currency miners. The new H110 Pro BTC+ is an ATX board based on Intel’s H110 chipset and LGA 1151 socket (Skylake CPUs). The board is dominated by 12 PCI-E x1 slots and a single PCI-E x16 slot (I suppose for mounting a SAS card and Burst mining or running Storj heh), but it also has slots for two DDR4 DIMMs, a single M.2 port, and four SATA ports. The board also supports Intel Gigabit Ethernet, ELNA audio, USB 3.0 and DVI and HDMI video outputs for the Intel iGPU.

ASRock H110 Pro BTC.jpg

The upcoming board is powered by a 24 pin ATX, 8 pin EPS, and two Molex connectors for the PCI-E slots. The H110 Pro BTC+ appears to have a decent power phase setup for an H110 motherboard as well. ASRock showed off the motherboard running eight GPUs on Windows at Computex, though with Linux it is possible go beyond that and run all 13 GPUs. The H110 chipset does mean that miners would need to spend money on a newer CPU and DDR4 memory, but they would save money by buying fewer motherboards and/or port multipliers.

Exact specifications along with pricing and availability are still unknown, but expect the mining crowd to jump on this so if you are interested in it be sure to set up email alerts for when it will become available so that you can get in before the miners make it go out of stock everywhere like the RX 580s! (heh)

Source: ASRock

Farm out your hard drive for profit?

Subject: General Tech | February 24, 2017 - 03:04 PM |
Tagged: storj, farming, bitcoin

Startup company Storj has a new twist on an old service, they are offering secure, distributed storage but the storage is located on hard drives which consumers are renting to them.  You can set up an account and get 1.5 cents per gigabyte you give to them.  You certainly are not going to get rich running out and buying some SSDs to use but if you have a few old HDDs kicking around perhaps you would like to make a few crypto-coins on the side.  They current have 8200 farmers and more than 15000 users so there is certainly some interest.  On the other hand residential internet stability and the reliability of consumer hard drives could lead to unexpected interruptions to your access.  Drop by The Register for links to sign up for the service or sell some space if you are interested.

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"The network consists of the internet and a shared community of “farmers”, users who rent out their spare desktop hard drive space and bandwidth. Payment, at $0.015/GB, is via a cryptocurrency: namely, Bitcoin."

Here is some more Tech News from around the web:

Tech Talk

 

Source: The Register

Wonder why you can hear the sounds of pickaxes when you make breakfast?

Subject: General Tech | March 20, 2014 - 03:01 PM |
Tagged: bitcoin, dogecoin, internet of things, cryptocurrency

Not content to ruin the hopes of gamers wanting to upgrade to a Hawaii based AMD GPU now your smart devices are being press ganged into mining crypto-currency.  Everything from TVs and fridges through printers, routers and security cameras can be infected with the linux.darlloz worm and will then begin mining for the author of the worm.  The worm will even block other infections and has even been monitored patching certain holes in routers to prevent anything else from infecting the device and slowing down the mining computations.  The Inquirer does have some humourous news about this worm, there are 31,716 separate IP addresses infected but this has manged to raise a mere $196.00 so for the author.

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"A WORM that leverages the Internet of Things to mine cryptocurrencies has been found to have infected around 31,000 devices."

Here is some more Tech News from around the web:

Tech Talk

Source: The Register

Podcast #289 - Origin PC EOS-17 SLX Gaming Laptop, Mining on a 750Ti, News from MWC and more!

Subject: General Tech | February 27, 2014 - 03:48 PM |
Tagged: x240, video, tegra, podcast, origin, nvidia, MWC, litecoin, Lenovo, Intel, icera, eos 17 slx, dogecoin, bitcoin, atom, amd, 750ti

PC Perspective Podcast #289 - 02/27/2014

Join us this week as we discuss the Origin PC EOS-17 SLX Gaming Laptop, Mining on a 750Ti, News from MWC and more!

You can subscribe to us through iTunes and you can still access it directly through the RSS page HERE.

The URL for the podcast is: http://pcper.com/podcast - Share with your friends!

  • iTunes - Subscribe to the podcast directly through the iTunes Store
  • RSS - Subscribe through your regular RSS reader
  • MP3 - Direct download link to the MP3 file

Hosts: Ryan Shrout, Jeremy Hellstrom, Josh Walrath and Allyn Malventano

 
This podcast is brought to you by Coolermaster, and the CM Storm Pulse-R Gaming Headset!
 
Program length: 1:17:30
  1. Week in Review:
  2. 0:21:48 This podcast is brought to you by Coolermaster, and the CM Storm Pulse-R Gaming Headset
  3. News items of interest:
  4. Hardware/Software Picks of the Week:
  5. Closing/outro

Be sure to subscribe to the PC Perspective YouTube channel!!

NVIDIA Coin Mining Performance Increases with Maxwell and GTX 750 Ti

Subject: General Tech, Graphics Cards | February 20, 2014 - 05:45 PM |
Tagged: nvidia, mining, maxwell, litecoin, gtx 750 ti, geforce, dogecoin, coin, bitcoin, altcoin

As we have talked about on several different occasions, Altcoin mining (anything that is NOT Bitcoin specifically) is a force on the current GPU market whether we like it or not. Traditionally, Miners have only bought AMD-based GPUs, due to the performance advantage when compared to their NVIDIA competition. However, with continued development of the cudaMiner application over the past few months, NVIDIA cards have been gaining performance in Scrypt mining.

The biggest performance change we've seen yet has come with a new version of cudaMiner released yesterday. This new version (2014-02-18) brings initial support for the Maxwell architecture, which was just released yesterday in the GTX 750 and 750 Ti. With support for Maxwell, mining starts to become a more compelling option with this new NVIDIA GPU.

With the new version of cudaMiner on the reference version of the GTX 750 Ti, we were able to achieve a hashrate of 263 KH/s, impressive when you compare it to the performance of the previous generation, Kepler-based GTX 650 Ti, which tops out at about 150KH/s or so.

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As you may know from our full GTX 750 Ti Review,  the GM107 overclocks very well. We were able to push our sample to the highest offset configurable of +135 MHz, with an additional 500 MHz added to the memory frequency, and 31 mV bump to the voltage offset. All of this combined to a ~1200 MHz clockspeed while mining, and an additional 40 KH/s or so of performance, bringing us to just under 300KH/s with the 750 Ti.

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As we compare the performance of the 750 Ti to AMD GPUs and previous generation NVIDIA GPUs, we start to see how impressive the performance of this card stacks up considering the $150 MSRP. For less than half the price of the GTX 770, and roughly the same price as a R7 260X, you can achieve the same performance.

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When we look at power consumption based on the TDP of each card, this comparison only becomes more impressive. At 60W, there is no card that comes close to the performance of the 750 Ti when mining. This means you will spend less to run a 750 Ti than a R7 260X or GTX 770 for roughly the same hash rate.

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Taking a look at the performance per dollar ratings of these graphics cards, we see the two top performers are the AMD R7 260X and our overclocked GTX 750 Ti.

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However, when looking at the performance per watt differences of the field, the GTX 750 Ti looks more impressive. While most miners may think they don't care about power draw, it can help your bottom line. By being able to buy a smaller, less efficient power supply the payoff date for the hardware is moved up.  This also bodes well for future Maxwell based graphics cards that we will likely see released later in 2014.  

Continue reading our look at Coin Mining performance with the GTX 750 Ti and Maxwell!!