Now even YouTube serves ads with CPU-draining cryptocurrency miners

[Flash]

*cdn.arstechnica.net/wp-content/uploads/2018/01/youtube-cryptocurrency-mining-800x425.jpg

YouTube was recently caught displaying ads that covertly leach off visitors' CPUs and electricity to generate digital currency on behalf of anonymous attackers, it was widely reported.

The ads contain JavaScript that mines the digital coin known as Monero. In nine out of 10 cases, the ads will use publicly available JavaScript provided by Coinhive, a cryptocurrency-mining service that's controversial because it allows subscribers to profit by surreptitiously using other people's computers. The remaining 10 percent of the time, the YouTube ads use private mining JavaScript that saves the attackers the 30 percent cut Coinhive takes. Both scripts are programmed to consume 80 percent of a visitor's CPU, leaving just barely enough resources for it to function.

Source: Now even YouTube serves ads with CPU-draining cryptocurrency miners

 

[topgear]

A highly concerning matter but not unexpected ? I just wonder why Bitcoin still has not been marked as banned worldwide.

 

[Nerevarine]

lol what do you have against bitcoin ?

 

[billubakra]

Take that Skynet. One more reason to use adblockers.

 

[topgear]

lol what do you have against bitcoin ?

Everything about it feels shady and creepy. Moreover it had made graphic card price higher.

 

[Zangetsu]

Cryptocurrency is the future but the Bubble will burst now.
And hackers are taking advantage of others resources to generate it (bound to happen)

Keep your AV updated all the time, to prevent it

 

[Nerevarine]

Everything about it feels shady and creepy. Moreover it had made graphic card price higher.

I understand the frustration with graphics card prices, and it is a valid one, but Cryptocurrency is the natural evolution of currency. That much is undeniable. It may fall in the future or may not, but regardless the introduction of crypto has opened the eyes of public on the importance of decentralized currency, out of reach of any govt.
I suggest reading the documentation on Bitcoin by Satoshi. its really excellent how the entire architecture of crypto is built.

 

[Hrishi]

What happens when a coin exchange gets looted? Is that similar to bank being looted? If yes, what happens then? Price falls?


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[bssunilreddy]

What happens when a coin exchange gets looted? Is that similar to bank being looted? If yes, what happens then? Price falls?


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If a bank gets looted, does the value of the currency fall, no know.

So when a Crypto Currency exchange gets looted, maybe it goes bankrupt. This is it's immediate effect. Maybe.

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[bssunilreddy]

Actually I don't know a thing about Bitcoin.

How is it actually generated? Can a normal PC with Nvidia GPU generate Bitcoin? Can my PC in my signature generate it?

Is it a costly affair to setup Bitcoin generating PCs.

Is it actually profitable? How much time will it take to generate at least 1 Bitcoin? I have so many doubts...

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[Zangetsu]

Actually I don't know a thing about Bitcoin.

How is it actually generated? Can a normal PC with Nvidia GPU generate Bitcoin? Can my PC in my signature generate it?

Is it a costly affair to setup Bitcoin generating PCs.

Is it actually profitable? How much time will it take to generate at least 1 Bitcoin? I have so many doubts...

Earlier it was easy to generate Bitcoin but now it has become much more complex and challenging.
Forget about normal PC, people are using SLI and Quadro setup to mine bitcoin.
Many rich people in the world have huge Mining setup upto a size of warehouse to mine bitcoin 24x7.

The more computers participate in the node the more complex and hard it gets.
Many of the bitcoins were lost and never recovered, due to HDD crash or owners death.

Think of it like a Race the one who comes first get the prize of bitcoin.

 

[Nerevarine]

What happens when a coin exchange gets looted? Is that similar to bank being looted? If yes, what happens then? Price falls?


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Crypto is stored as a unique hash key in any exchange. Its usually not advisable to store crypto in an exchange. Better to keep it in a hot wallet. Even better is a hardware wallet, where it is sandboxes from the internet, and no hacker can steal it

 

[bssunilreddy]

Crypto is stored as a unique hash key in any exchange. Its usually not advisable to store crypto in an exchange. Better to keep it in a hot wallet. Even better is a hardware wallet, where it is sandboxes from the internet, and no hacker can steal it

Why then they are keeping in an exchange. That is how hackers stole the Bitcoin from a Japanese Exchange right!

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[Nerevarine]

Because its easy to sell and buy your crypto in exchange. Its faster that's why people keep it.
If you were to keep in a hot wallet, and if you do buying and selling frequently, then each transaction from hot wallet to exchange, will be charged. Say 0.00117 ETH every time.
For withdrawals that much is fine but if you do trading constantly, then it adds up
Mining isn't as profitable as trading is, atleast not anymore.
You could buy a bunch of crypto, when the price falls and as soon as it normalizes or goes to peak, sell it. The return money you get from exchange will be in inr or USD, which will remain static, you can either withdraw it or buy more crypto when price falls again
If you've ever played run escape, you will realize how similar crypto is to the grand exchange auction house in Varroc in that game.

 

[Flash]

Why then they are keeping in an exchange. That is how hackers stole the Bitcoin from a Japanese Exchange right!

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Bitcoin Exchange is like a Bank + Stock exchange, where you store your cryptocurrencies and also trade/exchange with others.

 

[topgear]

Because its easy to sell and buy your crypto in exchange. Its faster that's why people keep it.
If you were to keep in a hot wallet, and if you do buying and selling frequently, then each transaction from hot wallet to exchange, will be charged. Say 0.00117 ETH every time.
For withdrawals that much is fine but if you do trading constantly, then it adds up
Mining isn't as profitable as trading is, atleast not anymore.
You could buy a bunch of crypto, when the price falls and as soon as it normalizes or goes to peak, sell it. The return money you get from exchange will be in inr or USD, which will remain static, you can either withdraw it or buy more crypto when price falls again
If you've ever played run escape, you will realize how similar crypto is to the grand exchange auction house in Varroc in that game.

Sounds more like stock market

 

[topgear]

I understand the frustration with graphics card prices, and it is a valid one, but Cryptocurrency is the natural evolution of currency. That much is undeniable. It may fall in the future or may not, but regardless the introduction of crypto has opened the eyes of public on the importance of decentralized currency, out of reach of any govt.
I suggest reading the documentation on Bitcoin by Satoshi. its really excellent how the entire architecture of crypto is built.

No, not only for graphics card prices.

I think we are not living in a Matrix ( read movie ) world or in a wonderland and oh yeah, Govt. can reach and ban stuff like Crypto Currency - if Governments all over world put a ban on this it's going to be doomed.

Also the point is people are buying / selling / generating Crypto currency for what - mostly for "money" governed by the the Governments - if you talk about other physical or digital items well even they were bought using real money at some point of time.

Moreover, mining and consuming so much power and resources is not good for the environment and that much computing power could and should have been used for other research purposes.

 

[Zangetsu]

Indian govt focussed on deciding clear regulation on the trading of cryptocurrencies like Bitcoin: Report- Technology News, Firstpost