Monetize Web Traffic By Using It To Mine BitCoins

The Pirate Bay, a torrent website, experimented with getting site visitors to mine the cryptocurrency Monero with their browser over the weekend, without their knowledge.

The experiment was implemented to see if web traffic along with some code could in fact mine for bitcoins and to ultimately replace Pirate’s Bay banner ads. Upon discovering the surreptitious mining, people were understandably upset: Cryptocurrency mining can slow down your computer.

The service in question is Coin Hive and it allows users to embed JavaScript miners in their website as a side source of revenue, so the service in itself is not bad or evil. The problem with The Pirate Bay is that they have introduced the JavaScript code of the miner without letting any of the visitors know, so people started noticing that when they open the website their CPU load skyrockets and were obviously concerned.

Why It’s Hot:

As more and more ad-blockers are downloaded sites will continue to look for technology that can help them monetize with very little ask from the consumer. If more sites are more transparent with users about lending their CPU energy to mine bitcoins, then users might be willing to make the trade. The user will receive no ads and the publisher will receive revenue. A positive trade-off for both parties.