Mining platform Nicehash hacked - 56 Million USD Bitcoinwallet reportedly empty

Na sorry, can't be bothered to read your tl;dr rage against others raging.

There you go, I hope that helps to calm you down a bit. You seem awefully enraged by people's opinions.

Sure, saying miners should die is wrong, but people investing into something that's not backed by any real security measures or real world worth is risky.
No tears, wrong investment, happens in the financial world. Can't be bothered about GPU prices though, part of the deal and AMD's decision to make their cards excellent ethereum mining devices.

Maybe someone can explain this to me, I thought the whole deal behind cryptocurrency was supposed to be that it's decentered, so that it could not be brought down easily or controlled by a single "person"...
What sense does it make to put such a huge sum of coins / worth in a single place again then?

 

Damn, we have been caught guys quick make a run for it!!! 56 Million I would move my family to some island in the middle of nowhere then stock-up on all my favirot pc parts haha.

 

Not that I'm one of the people cheering this but one point you made is a little off. Nice Hash was paying people in Bitcoin for other currencies that are mined with gpu's so they are related in a way so saying it's unrelated isn't really true.

 

Jealousy is an ugly trait.

 

I agree with your argument, its stupid to mine with CPU but they're using it as a form of anonymous donation. Also, many people have bought the games and want to store them without DRM and as compressed as possible. There's a big argument here.

In all investments there's a risk involved. If you invest everything you have on the highest risk investment in hopes of high return, you might be in for a nasty surprise. I have no sympathy for those people and they deserve everything they got.

Sold my R9 270X to buy a RX570.
Waited 2 months without a card to buy.
Had to buy a RX560 because I was tired of no stock.
Meanwhile a card that costed 210€ now is 270€ or more.
Ya, thank you so much miners! (You can all burn in hell).

 

What is strange to me is that the wallets that were stolen from really only come down to a handful of addresses, and one of them (12VkDG5PSo5Qh6Lzjje72eCvVwrTwdiuFK) accounts for 95%+ of the 4700 or so BTC. When looking at the value graph of that 1 wallet it only just recently (within 2 days) got that much value, and all at once... then they were hacked..... Seems a bit fishy.

 

nice...
you played safe and lost only $15,000 compared to todays BTC value

Not saying you had been wrong to sell... it could have plunged just as well.
But $15k is $15k

 

Well, to be honest, if I'd try to steal something, I wouldn't go for 10.000 small wallets, but for 10 big ones

 

We have to separate mining from trading in bitcoins and altcoins.
Bitcoins are basically unmineable atm, way too hard and you have to invest crazy amounts of money in hardware.
On the other hand, if you get the rights parts (if they are available) at the right price and investigate some interesting AltCoin, you can make some money mining those. In this scenario you are basically covered if you do it right and don't go crazy, like buying 35 vega 64's to "try out mining". Just go step by step, get familiar with what can happen, read up on it and you can make some money, have some xp/fun building and setting up stuff. Fe: You have an old gaming rig and get 2 rx 560, which cost you like 200 bucks and have some fun.

And then you have the traders, which have absolutelly nothing to do with hardware. If this annoys you, you're a whiny little b****. It's like being mad a the wall street exchange. Dumb.

 

Wow, so people here still have a problem with other people using their GPU(s) to make money? Many people, myself included, use GPU(s) to play games, consuming large amounts of electricity purely for selfish gain (personal entertainment, benefiting nobody else), and yet if someone uses it to mine cryptocurrency for selfish gain it's suddenly the crime of the century!

Some point to inflated prices but if you check retailers like Newegg you'd see that prices are more-or-less back to normal now. The days of highly inflated prices are over so I don't understand why people continue to use this argument against mining.

Also note that miners are the backbone of the cryptocurrency network (without them, the network could not function). It's not like they're moochers, sucking out coins without doing anything to earn them - the coins they get are the reward for keeping the network functional.

Finally, cryptocurrencies are the best alternative to the fractional-reserve banking system that dominates the world today. The current banking system is based almost entirely on debt (which means that without debt there would be no money), putting society permanently in debt to the banks and requiring a constant expansion of the money supply to remain functional (resulting in permanent inflation). Living in a debt-based society is inherently unstable, and the only thing keeping the banking system functional is people's faith in the system - banks have nowhere near the amount of cash to pay out all their depositors, so they rely on most of their customers keeping their money in the bank (this is why bank runs are so dangerous).

 

Or I could have lost all of it. I don't live in a country where I can get on social benefits and sit on my ass for several years like that. Here if this happens you are a bum.

 

Well, on the other hand, you should only invest the money you don't really need in an extremely volatile market...
Cryo, it's easy to say what you should have done when it has already happened.
I should have invested a mere 1000€ when bitcoins were 6cents right?

 

Yeah you could have lost whole $2k.
Which by mere fact that was invested in mining should had been the kiss-goodbye money. I.E. something that if the sh** hits the fan, you can part with and still not become a bum.

No... he's saying that the Nicehash wallet that's been emptied has received all it's BTC yesterday. Within one day only. If you know how multi mining pools work, that itself sounds fishy.

 

Bitcoin just hit 16,000 dollars a coin.

 

Precisely.

With that logic you should go to casino - because hey you can win, right?

 

What logic?
I said the same thing like the guy to whom you responded "Precisely"

But you already went to casino of sorts by building a mining rig, and gotten out just barely and without becoming a bum. That's again, according to you.
And you calling me, my logic, a gambler eh...

 

The problem is not in "using the GPU to make money", I work with video editing and use my GPU to make money.
The problem, the analogy to the parasites, begins when the selfish citizen begins to AFFECT EVERYONE with uncontrolled selfishness, ignoring the consequences and laughing at the face of those who complain about the consequences of mining, after all, "I am making money, bad luck to anyone who is harmed."

I understand that it is a difficult concept to understand for selfish people, but if you are not intellectually dishonest, you will understand the reasons of some people in this forum. We, who believe in rational consumption, understand perfectly the miners reasons, you can be sure of that.

 

Very close to passing 17,000 dollars a coin. Ridiculous gains it's making at the moment.

 

The reason people are upset about mining is that they think it's a scam, and they resent the fact that people are making money off of it. The other reason is the spike in GPU prices, although that's no longer a problem.

 

Yeah. There's news that Bitcoin future could be traded on major stock exchanges soon. This will give Bitcoin legitimacy in the financial markets and make it a viable financial instrument for big investors - prices are being bid up in preparation for this shift.