Spidey2721 Posted March 7, 2015 Report Share Posted March 7, 2015 er, wait what? uTorrent has been caught secretly bundling and installing a Bitcoin miner with its latest client update. The latest update has been found to secretly install EpicScale without user permission, which uses a certain amount of CPU power to mine Bitcoin in the background. http://www.kitguru.net/channel/generaltech/matthew-wilson/utorrent-update-secretly-installs-bitcoin-miner/ Quote Link to comment Share on other sites More sharing options...
RedRocket1647545505 Posted March 7, 2015 Report Share Posted March 7, 2015 Kinda brilliant actually if they'd gotten away with it. Quote Link to comment Share on other sites More sharing options...
JaSSon Posted March 7, 2015 Report Share Posted March 7, 2015 Kinda brilliant actually if they'd gotten away with it. There's NO WAY to get away with that tho. They just put their company out of business. Quote Link to comment Share on other sites More sharing options...
Exodus Posted March 7, 2015 Report Share Posted March 7, 2015 Brilliant idea of they had told their users what they were doing. At the very least in the terms of service. Some people just dont like other people or companies making money off of them.. I dont get it. Quote Link to comment Share on other sites More sharing options...
RedRocket1647545505 Posted March 7, 2015 Report Share Posted March 7, 2015 There's NO WAY to get away with that tho. They just put their company out of business. Oh, I agree. But building a drilling rig using the collective power of all those computers would have been pretty impressive. Quote Link to comment Share on other sites More sharing options...
JaSSon Posted March 8, 2015 Report Share Posted March 8, 2015 Some people just dont like other people or companies making money off of them.. I dont get it. The miner uses CPU idle time. uTorrent users were noticing sluggish performance and extra heat. What's not to get? uTorrent makes money while users had to deal with extra heat, poor performance, and excess energy usage. Quote Link to comment Share on other sites More sharing options...
Exodus Posted March 8, 2015 Report Share Posted March 8, 2015 The miner uses CPU idle time. uTorrent users were noticing sluggish performance and extra heat. What's not to get? uTorrent makes money while users had to deal with extra heat, poor performance, and excess energy usage. I should have been more clear. uTorrent should have told their users at the very least in the terms of service and it would have been okay. Since they didn't its not okay. Quote Link to comment Share on other sites More sharing options...
unfunnyryan Posted March 8, 2015 Report Share Posted March 8, 2015 honestly, 100k powerful CPUs mining are still going to be paltry in comparison to a single ASIC. Quote Link to comment Share on other sites More sharing options...
MattKatz Posted March 9, 2015 Report Share Posted March 9, 2015 I don't understand how this Bitcoin "MINING" works.....Can someone explain it in laymans terms.....Because I just don't see how you mine currency out of thin air. Quote Link to comment Share on other sites More sharing options...
Spidey2721 Posted March 9, 2015 Author Report Share Posted March 9, 2015 thats pretty much it. Quote Link to comment Share on other sites More sharing options...
ShowHBK Posted March 9, 2015 Report Share Posted March 9, 2015 I don't understand how this Bitcoin "MINING" works.....Can someone explain it in laymans terms.....Because I just don't see how you mine currency out of thin air. Simple and easy to understand article explaining how mining works http://bitcoin.org/en/how-it-works One of the problems I have found with mining is it takes a LONG ASS time to generate just 1 Bitcoin. For a little while I had a little system mining 24/7 and could barley generate much of anything in terms of free money. Honestly I did not understand that you need a system built specifically for Bitcoin mining to turn a profit imo. Something like this: Quote Link to comment Share on other sites More sharing options...
MattKatz Posted March 9, 2015 Report Share Posted March 9, 2015 Hate to say it but I didn't understand a damn thing in that article and to me made zero sense....someone else got a better answer? Quote Link to comment Share on other sites More sharing options...
ForeverMaker Posted March 9, 2015 Report Share Posted March 9, 2015 Hate to say it but I didn't understand a damn thing in that article and to me made zero sense....someone else got a better answer? computers do lots of math to "unlock" bitcoins. takes a great deal of time and computing power. generally not worth for the average Joe unless you get into is seriously (and get free/cheap power). coins have value based on the bitcoin market kind of like stocks. Quote Link to comment Share on other sites More sharing options...
MattKatz Posted March 9, 2015 Report Share Posted March 9, 2015 I guess , I don't get it based on that article and what your saying. The article says you can pay with bitcoins, and it has basically checks and balances to make sure it can't be modified so as not to break the chain and can only be received by the person sent to, so if I think of this as "mining" , what are you mining if the bit coin is something you have to posses. I mean I can't go out in my front yard and start digging holes and find US currency....well, unless a precious person buried some there....so where are you getting bitcoins if you have none, what's the rate of return, why was this started and how? I could ask a dozen more questions but I got to start somewhere Quote Link to comment Share on other sites More sharing options...
ForeverMaker Posted March 9, 2015 Report Share Posted March 9, 2015 if you really want more details the wikipedia article is pretty decent... http://en.wikipedia.org/wiki/Bitcoin Quote Link to comment Share on other sites More sharing options...
jeffro Posted March 9, 2015 Report Share Posted March 9, 2015 I guess , I don't get it based on that article and what your saying. The article says you can pay with bitcoins, and it has basically checks and balances to make sure it can't be modified so as not to break the chain and can only be received by the person sent to, so if I think of this as "mining" , what are you mining if the bit coin is something you have to posses. I mean I can't go out in my front yard and start digging holes and find US currency....well, unless a precious person buried some there....so where are you getting bitcoins if you have none, what's the rate of return, why was this started and how? I could ask a dozen more questions but I got to start somewhere How are you to know you posses any coins if you didnt know you were mining them. Quote Link to comment Share on other sites More sharing options...
MattKatz Posted March 9, 2015 Report Share Posted March 9, 2015 I guess If I were to receive a payment for something with bitcoin...but I guess by the way the terminology is stated.....Receiving is mining, which is the part that makes no sense to me. Quote Link to comment Share on other sites More sharing options...
MattKatz Posted March 9, 2015 Report Share Posted March 9, 2015 And I guess now that Im reading the Wiki.....This had to start from zero available bitcoins at some point....so how was the first created, and what backed its value? To me its like it was created out of thin air with nothing "BACKING" its value. Quote Link to comment Share on other sites More sharing options...
ForeverMaker Posted March 9, 2015 Report Share Posted March 9, 2015 And I guess now that Im reading the Wiki.....This had to start from zero available bitcoins at some point....so how was the first created, and what backed its value? To me its like it was created out of thin air with nothing "BACKING" its value. no different than "real" currency. Quote Link to comment Share on other sites More sharing options...
Supplicium Posted March 9, 2015 Report Share Posted March 9, 2015 And I guess now that Im reading the Wiki.....This had to start from zero available bitcoins at some point....so how was the first created, and what backed its value? To me its like it was created out of thin air with nothing "BACKING" its value. You should stop trying to figure it out. It is not for you 1 Quote Link to comment Share on other sites More sharing options...
MattKatz Posted March 9, 2015 Report Share Posted March 9, 2015 I don't really want to do it...But Real Currency is "REAL" so to speak.....Physical, you can touch it, hide it, everyone accepts it....and it was made originally with what I believe was gold as the backer for its value.....What is the Value or the backer to the value of a bitcoin? Quote Link to comment Share on other sites More sharing options...
jeffro Posted March 9, 2015 Report Share Posted March 9, 2015 I don't really want to do it...But Real Currency is "REAL" so to speak.....Physical, you can touch it, hide it, everyone accepts it....and it was made originally with what I believe was gold as the backer for its value.....What is the Value or the backer to the value of a bitcoin? http://imgur.com/JVmIq7q.jpg Not anymore... US currency these days has an artificial value. You would run out of gold long before you spent every USD in circulation. Why? Because the US mint prints money that it cannot back. Yet it still has a value doesn't it? Quote Link to comment Share on other sites More sharing options...
unfunnyryan Posted March 9, 2015 Report Share Posted March 9, 2015 I don't really want to do it...But Real Currency is "REAL" so to speak.....Physical, you can touch it, hide it, everyone accepts it....and it was made originally with what I believe was gold as the backer for its value.....What is the Value or the backer to the value of a bitcoin? Perceived value, just like your dollar. Quote Link to comment Share on other sites More sharing options...
MattKatz Posted March 9, 2015 Report Share Posted March 9, 2015 Still doesn't explain where the initial value of bitcoin started and continues to hold value. 1 Quote Link to comment Share on other sites More sharing options...
2highpsi Posted March 9, 2015 Report Share Posted March 9, 2015 To me its like it was created out of thin air with nothing "BACKING" its value. no different than "real" currency. Not anymore... US currency these days has an artificial value. You would run out of gold long before you spent every USD in circulation. Why? Because the US mint prints money that it cannot back. Yet it still has a value doesn't it? Perceived value, just like your dollar. http://www.memecreator.org/static/images/memes/2791433.jpg Bitcoin was created out of thin air, and has nothing backing it's value. The USD on the other hand, was not created out of thin air, and technically it has an entire government backing it. The USD previously was on the gold standard, but as pointed out above was switched to a fiat currency (like any other first world currency) If the USD goes to zero, you better be damn good at hunting or farming if you want to eat because you are talking about a total global economic collapse. If bitcoin went to zero, that is precisely the same amount of fucks that the world's economy would give.... zero. Quote Link to comment Share on other sites More sharing options...
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