How to be a Bitcoin Millionaire => http://goo.gl/8Xobwl
Bitcoin, the world’s first decentralized, open source electronic currency, is beginning to turn heads. Right now the virtual money is trading at around nine dollars USD in real money. It’s also considered by some to be the most dangerous project on the Internet.
Unlike the various virtual currencies that have found traction (and attracted some controversy) in the world of massive multiplayer online games, where they’re used to purchase virtual farms or weapons for slaying Orcs, Bitcoins have a more serious glimmer. They rely on a novel mechanism – developed by a Japanese computer science student – by which value is accumulated through peer-to-peer networks. They can’t be forged or stolen, nor can their value be artificially inflated; transactions based on them are untraceable (cue the bad guy James Bond music).
* See more bitcoin coverage on Motherboard.
Some people think it’s a load of nonsense; others say Bitcoin has the capacity to topple governments. Bitcoins are already being accepted by a variety of websites spanning markets like gaming, music, electronics and more. Others, meanwhile, are simply using them to sell drugs and buy prostitutes, among other things. Regardless of how they are used, one thing’s certain: Bitcoins have certainly got a lot of nerdy people talking.
To get a better understanding of how these things are made and what they can do, I sat down with a Bitcoin miner. Our subject – a system administrator at a college in the New York area – has turned his school’s computers into a server farm to get more buck for his bang, so to speak. Because of the nebulous legal and ethical nature of his scheme, he asked to remain anonymous.
How did you hear about Bitcoins?
I read an article online about how you can make money just by running software on your computer. You can make this fake digital money and then convert it into real money and I said, “Alright. I’ll do that.”
You work at a school, and your job is IT Director essentially?
Yeah, so I have access to the root account of a lot of the computers in a lot of the labs. I figure this summer, when the computers aren’t being used, I’d basically have my own little server farm.
Now explain what you are doing with the computers and Bitcoins?
On the computers there’s a Daemon that runs at startup that basically calls a specialized script; each of the computers has its unique username and password, logs into a server, gets a chunk of mathematical work to do, and reports back when it has a solution.
And how many computers do you have running it?
Right now I have it on about 15. I haven’t decided yet whether or not to to scale it up to the maximum I could do, which is about 60.
Is that illegal?
Read More:http://motherboard.vice.com/blog/how-to-get-rich-on-bitcoin-by-a-system-administrator-who-s-secretly-growing-them-on-his-school-s-computers
