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Does anyone here use Bitcoins?
Renegade:
Ok, check this fellow:
http://www.zdnet.com/bitcoin-is-going-to-teach-you-a-lesson-a-costly-one-7000022352/
Wow. Just wow. It's amazing that he can pack in so much wrong information and idiocy into such a short space.
Many commenters are similarly clueless. It's like randomly vomited words on a page - incoherent nonsense. The article's author doesn't even understand inflation/deflation.
tomos:
^an impressively bad article...
wraith808:
Wow... take an economics class!
Inflation (a *decrease* in a currency's value) is a completely different phenomenon from the price of a currency going UP (which is an *increase* in a currency's value).
You see, "inflation", as we usually encounter it, is due to an increase in the *amount* of money in circulation (not necessarily *physical* currency, mind you, as many people are paid, these days, with direct-deposit, and we buy things with a debit card, so no physical currency ever moved through our bank account. So, we're talking about the total amount of bank-account assets plus their cash minus their debts). When the amount of money in the economy goes up, that's more money people can spend on items in the market. And, since every price is the result of an invisible bidding war between buyers on a non-infinite supply of goods, if people *can* spend more money on something, some *will* spend more on it, and the price will be driven up.
When this happens, the price of the *currency* drops. It doesn't cost you as much, in terms of other currencies, to purchase it, because it doesn't have as much purchasing power. For example, suppose the British pound and the American dollar were trading 1:1. Suppose a candy-bar costs 1 dollar or 1 pound. Then, the American gov't prints a bunch of money and pays the people to build a bunch of roads or whatever. Now, the American people have twice as much money in their pocket, so they're going to be able to pay twice as much for a candy-bar, so the price of candy-bars goes up to 2 dollars. Meanwhile, a candy-bar *still* costs 1 British pound. And the *exchange* rate becomes 1 British pound buys 2 American dollars. *THAT* is inflation.
This is the opposite of what's happening with Bitcoin. A bitcoin's price, in terms of other currencies, has been going *up*, even though the supply of bitcoins has been (slowly) increasing. This is due to increased demand for it as more and more merchants accept it (which is the same as "demand" increasing).
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Renegade are you posting in comments again? ;D
Renegade:
Renegade are you posting in comments again? ;D
-wraith808 (October 24, 2013, 02:04 PM)
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Hahaha! Nope - wasn't me. He was far too polite. :D
40hz:
"The Street finds its own uses for things." - William Gibson
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According to BleepingComputer, the ransomware CryptoLocker does... ;D
Known Bitcoin Payment addresses for CryptoLocker
CryptoLocker allows you to pay the ransom by sending 2 bitcoins to an address shown in the decryption program. Bitcoins are currently worth over $200 USD on some bitcoins exchanges. Earlier variants of CryptoLocker included static bitcoin addresses for everyone who was infected. These static addresses include:
https://blockchain.info/address/18iEz617DoDp8CNQUyyrjCcC7XCGDf5SVb
https://blockchain.info/address/1KP72fBmh3XBRfuJDMn53APaqM6iMRspCh
Newer variants of CryptoLocker appear to be dynamically generating new bitcoin payment addresses for each instance of an infection. You can use the links above to see transactions into the wallet and out of the wallet.
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How thoughtful of them to make it so easy to pay up in order to ransom your files back! ;) :Thmbsup:
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