2 SIDES OF THE COIN
Legal vs. illegal profit
A report on who sees what potential in mining crypto-currencies.
From the dark side of the crypto space:
Valve Corporation’s Motherboard reported yesterday that they had removed a game called Abstractism from its game marketplace, Steam. The indie game was accused of crypto-jacking, meaning that it allegedly hijacked players’ computers to unnoticeably mine crypto-currency. Users reported that the game’s setup file included a Trojan virus and its exe file was actually a malware disguised.
Further investigation revealed that the game accessed users’ computer resources to operate a crypto-mining program that mined Monero in the background.
According to Steam, Abstractism was already marked as suspicious for reasons such as the developers encouraging players to keep the game running, even when not in use, in return for valuable in-game items.
Following complaints from users, the Steam Game Store removed Abstractism and banned its developer from the store.
Still about mining but from the area of legal operations:
Fortune magazine reports that Bitmain, the China-based Bitcoin mining equipment manufacturer, produced a spectacular $1.1 billion profit in the first quarter of 2018. The company’s forecast for the whole fiscal year is 2 to 3 billion dollars in profit.
Nvidia, the well-known, 25-year-old IT giant made $1.2 billion in the first three months of this year, so the 5-year-old Bitmain’s head-to-head result is quite remarkable.
Compared to last year’s forecast and actual figures, it’s an even more outstanding achievement, since last year analysts originally estimated an annual profit of $3 to 4 billion and Bitmain “underachieved” producing a yearly profit of $1.2 billion “only”.
The company, famous for its Antminer series says it is in the final stages of its IPO (initial public offering) and will go public soon.