Skip navigation
Help

Peer-to-peer computing

warning: Creating default object from empty value in /var/www/vhosts/sayforward.com/subdomains/recorder/httpdocs/modules/taxonomy/taxonomy.pages.inc on line 33.

For most, a life on Bitcoin is a short experiment. For some of Pensacola, Florida's homeless, though, the currency has become a lifeline, making up the gap that low-paying or intermittent jobs and public assistance can't fill. Wired profiles the men and women who have developed an alternative virtual economy, raising charity money through Bitcoin and making small amounts of money through Mechanical Turk-like jobs that pay in Bitcoin rather than requiring a bank account. Though Bitcoin still isn't widely accepted, services like Gyft can turn the currency into gift cards for food or other necessities, and mobile phones and computers are affordable even for some people who can't make a monthly rent payment. Jesse Angle, who earns money by completing simple online tasks for Bitcoin, says the system is less risky and embarrassing than panhandling. He and his friends, he says, are "kind of the homeless geeks."

0
Your rating: None

There are all kinds of reasons to think that Bitcoin is a joke, and that the value of the bitcoins themselves will ultimately go to zero. It's inherently unstable as a currency, prone to hyperdeflation, has an artificial scarcity, and is subject to hoarding.

0
Your rating: None
Original author: 
Cyrus Farivar

Aurich Lawson

This is the first in a two-part series exploring Butterfly Labs and its lineup of dedicated Bitcoin-mining hardware. In part one, we look at the company and the experiences customers have had with it. In part two, to be published on June 29, we share our experiences running a Bitcoin miner for a couple weeks. Spoiler alert: we made money.

The more I dig into Bitcoin, the stranger it gets. There’s gray-market online gambling and Russian-operated futures markets—to say nothing of the virtual currency’s wild ride over the last several months. It’s full of characters with names like “artforz” and “Tycho,” supposedly two of the largest Bitcoin holders out there. Of course, like most things Bitcoin, it’s nearly impossible to know for sure.

While reporting on a Bitcoin-based gambling story earlier this year, I interviewed Bryan Micon, who works with a Bitcoin-based poker site called Seals With Clubs. (To continue the lack of information, Micon won’t say who owns the site.) Micon has taken it upon himself to investigate what he believes are Bitcoin-related scams—such as the ill-fated Bitcoin Savings and Trust online bank—and he makes public pronouncements about them.

Read 43 remaining paragraphs | Comments

0
Your rating: None
Original author: 
Cyrus Farivar

On Thursday, the world’s largest Bitcoin exchange, Mt. Gox, announced that it would require all users to “be verified in order to perform any currency deposits and withdrawals. Bitcoin deposits do not need verification, and at this time we are not requiring verification for Bitcoin withdrawals.”

The company did not provide any explanation about why it was imposing this new requirement, but it did say that it would be able to process most verifications within 48 hours.

The move comes two days after federal prosecutors went after Liberty Reserve, another online currency that had notoriously poor verification. (In court documents, a federal investigator in that case included an address of “123 Fake Main Street, Completely Made Up City, New York” to create an account that was accepted.) It also comes two weeks after the Department of Homeland Security started investigating Mt. Gox over the possible crime of money transmitting without a license.

Read 1 remaining paragraphs | Comments

0
Your rating: None
Original author: 
Aaron Souppouris

110315newyork_lg_large

The asset freeze at Mt. Gox was due to the Bitcoin exchange's failure to obey financial regulations as required by US authorities. The news comes via IDG, which obtained a copy of the seizure order from the US Immigration and Customs Enforcement (ICE).

The agency froze the Dwolla (a US-based online payments system) account of Mutum Sigillium (aka Mt. Gox) on the grounds that it had lied in an official form. When asked if his company "[accepts] funds from customers and send[s] the funds based on customers' instructions," Mt. Gox CEO Mark Karpeles answered "no." When asked if Mt. Gox "deal[s] in or exchange[s] currency" for its customers," Karpeles again answered "no." In both cases, it seems likely — and ICE asserts — that these...

Continue reading…

0
Your rating: None
Original author: 
Soulskill

CowboyRobot writes "Two researchers at San Francisco State University has successfully implemented hardware acceleration for realtime audio using graphics processing units (GPUs). 'Suppose you are simulating a metallic plate to generate gong or cymbal-like sounds. By changing the surface area for the same object, you can generate sound corresponding to cymbals or gongs of different sizes. Using the same model, you may also vary the way in which you excite the metallic plate — to generate sounds that result from hitting the plate with a soft mallet, a hard drumstick, or from bowing. By changing these parameters, you may even simulate nonexistent materials or physically impossible geometries or excitation methods. There are various approaches to physical modeling sound synthesis. One such approach, studied extensively by Stefan Bilbao, uses the finite difference approximation to simulate the vibrations of plates and membranes. The finite difference simulation produces realistic and dynamic sounds (examples can be found here). Realtime finite difference-based simulations of large models are typically too computationally-intensive to run on CPUs. In our work, we have implemented finite difference simulations in realtime on GPUs.'"

Share on Google+

Read more of this story at Slashdot.

0
Your rating: None
Original author: 
Lee Hutchinson

Apparently, I'm a Bitcoin miner now, and it looks like I'm actually pretty good at it. Ars is currently in possession of one of the elusive but very real Butterfly Labs Bitcoin Miners. It's a tiny little black box that fits in the palm of my hand, and it contains a specialized ASIC adept at chewing through SHA-256 cryptographic functions—exactly the kind of calculations necessary to bring more Bitcoins into the world. Turns out, it's very good at what it does: it computes hashes at the rate of about 5.3 billion per second.


The Butterfly Labs Bitcoin Miner. Lee Hutchinson


Close-up of the ASIC's heat sink and some of the motherboard components. Lee Hutchinson


The Miner disassembled. That 80mm fan gets pretty darn loud. Lee Hutchinson

I've got any number of computers around the house here to try the Butterfly Labs box out with, but I took the masochistic route and chose to try it out on OS X. This took quite a bit of back-and-forth with John O'Mara, creator of the popular MacMiner Bitcoin mining application. After several hours of troubleshooting, we eventually arrived at success. Here it is, happily churning away:


The Butterfly Labs Bitcoin Miner chewing its way through calculations at more than five billion hashes per second. Lee Hutchinson

According to my trusty Kill-A-Watt, the miner is drawing a pretty constant 50 watts at a similarly constant 0.73 amps. Its 80mm fan is whirring at what can only be described as "hair dryer" levels. According to MacMiner, the ASIC is generating a fair amount of heat, too—it's reporting a temperature of more than 80C.

Read 1 remaining paragraphs | Comments

0
Your rating: None
Original author: 
WIRED UK

Bryan Mills

A study of the Bitcoin exchange industry has found that 45 percent of exchanges fail, taking their users' money with them. Those that survive are the ones that handle the most traffic—but they are also the exchanges that suffer the greatest number of cyber attacks.

Computer scientists Tyler Moore (from the Southern Methodist University, Dallas) and Nicolas Christin (of Carnegie Mellon University) found 40 exchanges on the Web that offered a service changing bitcoins into other fiat currencies or back again. Of those 40, 18 have gone out of business—13 closing without warning, and five closing after suffering security breaches that forced them to close. Four other exchanges have suffered serious attacks but remain open.

One of those is Mt Gox, the largest Bitcoin exchange, with Moore and Christin stating that at its peak it handles more than 40,000 Bitcoin transactions a day, compared to a mean average of 1,716. It has been the victim of a huge number of distributed denial-of-service (DDoS) attacks over the past month during the peak of the Bitcoin bubble (and its subsequent bursting—though the price now appears to be rising again). Its latest statement, dealing with the attack it suffered on April 21, is long and comprehensive, seeking to assuage the fears of Bitcoin users who feel that Mt. Gox is becoming a weak chain in Bitcoin's infrastructure.

Read 8 remaining paragraphs | Comments

0
Your rating: None
Original author: 
Nate Anderson


Bitcoin mining takes a lot of computing power—so naturally someone created a piece of malware to mine on other people's computers.

Kaspersky Lab

Mark Gimein is something of a Bitcoin skeptic, but in addition to his concerns about Bitcoin not being a "real currency," he's now charging that it has created "a real-world environmental disaster."

Writing in Bloomberg News, Gimein notes that mining Bitcoins—performing the computationally expensive calculations needed to define new Bitcoins—uses power. A lot of power. (Read our 2011 Bitcoin primer for more details.) He writes:

About 982 megawatt hours a day, to be exact. That’s enough to power roughly 31,000 US homes, or about half a Large Hadron Collider. If the dreams of Bitcoin proponents are realized, and the currency is adopted for widespread commerce, the power demands of bitcoin mines would rise dramatically.

If that makes you think of the vast efforts devoted to the mining of precious metals in the centuries of gold- and silver-based economies, it should. One of the strangest aspects of the Bitcoin frenzy is that the Bitcoin economy replicates some of the most archaic features of the gold standard. Real-world mining of precious metals for currency was a resource-hungry and value-destroying process. Bitcoin mining is too.

Gimein draws on the stats provided by Bitcoin-focused site Blockchain.info. The numbers fluctuate a bit with each day of calculations being tracked. According to Blockchain's stats this weekend, the last 24 hours of worldwide mining activity burned through 928.24 megawatt hours of power while miners calculated 59,502.6 gigahashes per second. Total power bill: $139,236.07.

Read 5 remaining paragraphs | Comments

0
Your rating: None
Original author: 
Ars Staff

This week at Ars Technica we saw the rise of Bitcoin in the popular consciousness and the unraveling of Prenda Law, the infamous porn-trolling firm that is battling possible sanctions against its lawyers. We looked at modeling tectonic plates in sugar water and we reviewed the HTC First—the phone that will carry Facebook's latest foray into the mobile world. Think you missed something important? Take a look at the list below and see if you need to catch up on anything before the next week.

Plant Technica bonus round: How to create near-infinite clones of your favorite tomato (or any) plant

Read on Ars Technica | Comments

0
Your rating: None