Student Harnesses His College Computers to Mine Money

Not real money of course, but a version of the digital currencies that seem to be always in the news at the moment. A student who has not been named in Imperial College London, one of the UK’s top Universities has been sneakily setting up all the computers to mine dogecoins for his account.

The cryptocurrency is one tipped to one day replace bitcoins and become the ipso facto standard for digital currency, although it should be added there are quite a few of those! Mining refers to the act of solving computer algorithms which earn the user dogecoin credits. It’s normally not worth mining many of these currencies as normally the costs of the cpus and electricity used are more than the value of the currency mined. However obviously if someone else is paying all the bills, then the economics of it change drastically.

It’s the second report we’ve seen of these sort of events although I’m sure there are many more. In Harvard somebody tied up the college’s supercomputer – Odyssey to do exactly the same thing. Obviously there is a huge problem for college’s with the events as the computers are effectively not available to other students for more legitimate uses. As many have found college computer resources are often not entirely used for their specified purpose.

The student in Imperial has now been banned from using the research computing facilities for the foreseeable future – the college issued a statement that such uses was strictly forbidden. Unfortunately for the student involved his 30,000 Dogecoins that he has produced using this method will hardly be sufficient reward – they are currently worth approximately £20!

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