Science Fiction Dictionary
A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z

 

$200K In Bitcoins Stolen

46,000 Bitcoins, amounting to more than $200,000, have been stolen in a clever hack on Linode, a service that allows customers to run virtual machines on remote servers.

Bitcoin is the first digital currency that is completely distributed. The network is made up of users like yourself so no bank or payment processor is required between you and whoever you're trading with. This decentralization is the basis for Bitcoin's security and freedom.

Your Bitcoins can be accessed from anywhere with an Internet connection. Anybody can start mining, buying, selling or accepting Bitcoins regardless of their location.

Take a look at this quick, informative video to learn more about Bitcoin.


(How does Bitcoin work?)

The heist took place in the following manner:

Andresen was using Linode to operate his "Bitcoin Faucet"—a website that doles out small amounts of new coins to users as a way to stimulate interest in the currency. Merak Palatinus was using Linode to communally mint new Bitcoins in a miners pool. Zhou Tong was using Linode to operate a Bitcoin trading site called Bitcoinica. Each also had enough Bitcoins stored on the file system to facilitate daily transactions.

The thief, it seems, was able to obtain customer support privileges which allowed him to find out which customers were holding Bitcoin wallets. The thief was then able to log in to the accounts through a weakness in the Linode manager—which customers use to configure their virtual machines—reboot the machines and change the root passwords. After that, it's take the money and run.

Linode has acknowledged the problem and is working to correct it. For now, Bitcoin value is holding steady at $4.60, perhaps due in part to the fact that Bitcoin's developers are accepting the loss.

If the graphics had been better, this theft might have looked like the heist in Charles Stross' 2007 novel Halting State:

The doors are three times as high as a tall man, carved from giant ebony beams clasped in a frame of some silvery metal... But they're not silvery now - they're glowing dull red, then a bright, rosy pulse of heat lights them up from the outside, and the doors begin to collapse inwards...

In through the smoke marches a formation of monstrous soldiers. They're larger than life and twice as gnarly, prognathous green-skinned jaws featuring tusks capped in gold...

"You're looking at an Orcish war band... The thing behind them is a dragon. They seem to have brought him along for fire support...

Over the space of a minute they denude the floor of the bank, snatching up the treasures that are inexplicably popping into view from the ethereal vaults...
(Read more about Stross' virtual world theft)

Via IEEE Spectrum; see also the Bitcoin site.

Scroll down for more stories in the same category. (Story submitted 3/7/2012)

Follow this kind of news @Technovelgy.

| Email | RSS | Blog It | Stumble | del.icio.us | Digg | Reddit |

Would you like to contribute a story tip? It's easy:
Get the URL of the story, and the related sf author, and add it here.

Comment/Join discussion ( 2 )

Related News Stories - (" Culture ")

Is It Better To Be Short?
'He was one of the smaller, energy-saving new breed...' - Frank Herbert, 1972.

The Coming Hell Of ChatGPT Salesbots
'Robot-salesmen were everywhere, gesturing, pleading, shrilling...' - Philip K. Dick, 1954.

Holly+ Processes Your Singing In Holly Herndon's Voice
'The perfect voice is the voice of science.' - Bernard Brown, 1931.

Megachurches Catch Up To Heinlein
'Mars,' the kid repeated, threw Boone a Scout salute and made a sixty-foot leap over the crowd. - Robert Heinlein, 1961.

 

Google
  Web TechNovelgy.com   

Technovelgy (that's tech-novel-gee!) is devoted to the creative science inventions and ideas of sf authors. Look for the Invention Category that interests you, the Glossary, the Invention Timeline, or see what's New.

 

 

 

 

Science Fiction Timeline
1600-1899
1900-1939
1940's   1950's
1960's   1970's
1980's   1990's
2000's   2010's

Current News

MIT Robot Eel Made Up Of Voxel Segments
'It was about five feet long, a silver flexiprene-covered body like a fat snake...'

Synthetic Voices Demanded Of New Actors
'The tape-recorded synthetic voice spoke with its usual dispassionate calm'

'Courier Commons' By Tomorrow Lab, From Karl Schroeder (and Bruce Sterling?)
'The pokkecon rang again. *The coffee’s for him?* Tsuyoshi said.'

Terrifying Robotic Apple Harvester
'... little machines, that went from plant to plant.'

Jetson-Style Clockwork Robot Nail Salon Coming To Target Near You
The Jetsons imagined so much future.

Mechanical Horse Sculpture Gallops In Place
'Rod placed the brain inside the panel... the horse raised its head, wiggled its ears, blinked twice, gave a tentative whinny.'

'Make Sunsets' Tweaks Climate By Atmospheric Alteration
'Pina2bo would have to operate full blast for many years to put as much SO2 into the stratosphere as its namesake had done in a few minutes.'

Eviation Alice Electric Plane First Flight
'A white electric plane approached at great speed...'

Hotels Turn To Robots As Human Workers Regroup
'Chain of hotels that specialized in non-human service.'

Changesite Mineral To Be Mined On Moon By China
'But then... not every bulldozer operator works on the Moon.'

Tongue-Controlled Tong Wearable Mouth Computer
'Griff found the white and pink map distracting and switched it off using his tongue mouse.'

Is It Better To Be Short?
'He was one of the smaller, energy-saving new breed...'

Taikonaut Tai Chi Foot Loops
'Jimmy Cardigan and Harlowe, staring through the darkside port, had their feet in the foot-loops...'

Space Billboards Would Ruin Our View Of The Cosmos
'But the rising sign, as it had been designed to do, held his eyes. A vast circle of scarlet stars came up into the greenish desert dusk.'

Orion's 'Skip-to-M'Lou' Entry
'A lightning pilot possibly could land that tin toy without power and still walk away from it provided he had the skill to play Skip-to-M’Lou in and out of the atmosphere...'

MarsCat and MetaCat, Your Robot Cat Companions
'It was you who betrayed me — you and your robot cat.'

More SF in the News Stories

More Beyond Technovelgy science news stories

Home | Glossary | Invention Timeline | Category | New | Contact Us | FAQ | Advertise |
Technovelgy.com - where science meets fiction™

Copyright© Technovelgy LLC; all rights reserved.