CoinHive Is Not Worth The Monero


Some Germans have put the hit on CoinHive. CoinHive is a cryptocurrency mining service identified as a malicious threat to web users thanks to the fact that the code is often used on hacked sites. It relies on a small chunk of computer code designed to be installed on Web sites. The code uses some or all of the computing power of any browser that visits the site in question, enlisting the machine in a bid to mine bits of the Monero cryptocurrency.

Remember that markup isn’t profit. Well, the story goes that “CoinHive is generating $250,000 worth of Monero every month – most of it going to just 10 individuals,” according to TheNextWeb. Let’s just call what CoinHive is doing enlightened self-interest, acting to further the interests of others by serving their own self-interest. Browser-based cryptocurrency mining wouldn’t exist unless someone designed, programmed, hosted and supported it. I mean, charities are making money through mining Monero—XMR—directly from their browsers—just not much of it.

For their trouble, CoinHive makes a 30% cut of all the mined coins, around $75k-a-month or ~$900k-a-year. It wouldn’t be so bad, it’s only capitalism, except of the $250,000 worth of mined coin, most of it’s going to only 12 bad actors, most of whom are hiding in short links to streaming videos and file sharing sites, euphemism for porn, some of which require much more than just a few minutes, many of which never resolve but just continue mining ad infinitum.

Ad infinitum is defined as again and again in the same way; forever. And if you click on a short link and nothing happens and you just sit there, spinning yarns, then you’re probably making someone very rich (that’s not my clever quip, I stole it from David Canellis). Our advice is to install minerBlock on your browser.