AP Explains: Why HBO hackers demanded payment in bitcoin

Why HBO hackers demanded payment in #bitcoin

  • Bitcoin, the digital currency, is the payment of choice for HBO’s cyberattackers.
  • (AP Photo/Eric Gay, File)

    NEW YORK (AP) — The digital currency Bitcoin is the payment of choice for HBO’s cyberattackers.

  • Bitcoin allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • The shuttered underground e-commerce site AlphaBay required transactions to be done in bitcoin and similar digital currencies.
  • A network of tech-savvy users called miners keep the system honest by pouring their computing power into a blockchain, a global running tally of every bitcoin transaction.

The digital currency Bitcoin is the payment of choice for HBO’s cyberattackers. The hackers demand what they say is their “6-month salary” in bitcoin, suggesting it’s at least $6 million. Bitcoin …
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AP Explains: Why HBO Hackers Demanded Payment in Bitcoin

  • NEW YORK — The digital currency Bitcoin is the payment of choice for HBO’s cyberattackers.
  • Bitcoin allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • Here’s a brief look at bitcoin:

    Unlike most currencies, bitcoin isn’t tied to any bank or government.

  • They receive bitcoins in exchange.
  • A bitcoin’s value plunged by 23 percent against the dollar in just a week this past January.

The digital currency Bitcoin is the payment of choice for HBO’s cyberattackers. The hackers demand what they say is their
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AP Explains: What is bitcoin? A look at the digital currency

AP Explains: What is bitcoin? A look at the digital currency - ABC News

  • Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • Here’s a brief look at bitcoin:

    ———

    HOW BITCOINS WORK

    Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously.

  • However, investigators might be able to track down the owners when bitcoins are converted to regular currency.
  • The currency has become popular enough that more than 300,000 daily transactions have been occurring recently, according to bitcoin wallet site blockchain.info.
  • A network of tech-savvy users called miners keep the system honest by pouring their computing power into a blockchain, a global running tally of every bitcoin transaction.

AP Explains: What is bitcoin? A look at the digital currency
Continue reading “AP Explains: What is bitcoin? A look at the digital currency”

AP Explains: What Is Bitcoin? A Look at the Digital Currency

AP Explains: What Is #bitcoin? A Look at the Digital Currency

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It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.
Continue reading “AP Explains: What Is Bitcoin? A Look at the Digital Currency”

AP Explains: What is bitcoin? A look at the digital currency

  • It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.
  • Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • (AP Photo/Mark Lennihan, File)

    NEW YORK (AP) — It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.

  • Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • Here’s a brief look at bitcoin:

    Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously.

NEW YORK (AP) — It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.
Continue reading “AP Explains: What is bitcoin? A look at the digital currency”

AP Explains: What is bitcoin? A look at the digital currency

AP Explains: What is #bitcoin? A look at the digital currency #cryptocurrency #investing

  • It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.
  • Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • (AP Photo/Mark Lennihan, File)

    NEW YORK (AP) — It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.

  • Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • Here’s a brief look at bitcoin:

    Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously.

NEW YORK (AP) — It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.
Continue reading “AP Explains: What is bitcoin? A look at the digital currency”

AP Explains: What is bitcoin? A look at the digital currency

AP Explains: What is #Bitcoin? A look at the digital currency

  • Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • Here’s a brief look at bitcoin:

    ———

    HOW BITCOINS WORK

    Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously.

  • The currency has become popular enough that more than 300,000 daily transactions have been occurring recently, according to bitcoin wallet site blockchain.info.
  • A network of tech-savvy users called miners keep the system honest by pouring their computing power into a blockchain, a global running tally of every bitcoin transaction.
  • An Australian entrepreneur last year stepped forward and claimed to be the founder of bitcoin, only to say days later that he did not “have the courage” to publish proof that he is.

AP Explains: What is bitcoin? A look at the digital currency
Continue reading “AP Explains: What is bitcoin? A look at the digital currency”