February 2015

BITCOIN

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Bank of England Worrying about ‘An Uber-type Situation’ in Banking

Bank of England Governor Mark Carney worries that technology will disrupt the banking and financial services industry in just the same way that it has torn apart newspapers, radio and the postal service.

His chief concern is that governments will fail to regulate it until it’s too late — “an Uber-type situation,” as he put it at the World Economic Forum in Davos last week. – Jim Edwards

 

Don’t be Afraid. The Gloves Are Off. The Revolt Has Begun

Heh. Chicago area police pay Bitcoin ransom. – Pete Dushenski

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Personal emails of the press secretary of Russian Prime Minister sold for 150 Bitcoin on anonymous bitcoin information market – libertas.bz

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Ongoing Auction: A complete copy of the data (as of August 2014) from three devices belonging to Russian Prime Minister, Dmitry Medvedev. The total size of the files exceeds 1 gigabyte, SMS-correspondence (a few thousand messages), photos, and videos, call history and phone book, Skype –libertas.bz

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Distributed blackmarkets can be built on top of the bitcoin block chain and Darkleaks is one of these new applications. We give the world a new scheme for selling information of any type, form or kind. This is a gift for you to stop corruption and challenge power – Darkleaks

 

The Transformation is Coming. Fiat Currency is Finished.

This is the sea change. The Transformation. Business as usual off the table and in the garbage. It makes anyone who can think giddy.

The horrors of the 20th century, prohibition, warmongering, the military industrial complex, Socialism, will all disappear as Rome did. The old insane asylum world will permanently die. We’ll look back on it in the same way that people look back on the USSR and its misery.

No one will be able to understand how billions of people all put up with money printed by criminals. It will be as strange as cannibalism. Inflation, legal tender laws, central banking and The Federal Reserve will seem like the most savage and repellant barbarism imaginable.

And yet as we study Pol Pot today and don’t give it a second thought, men of the very near future will shrug their shoulders and carry on. The Stateless crypto future will allow men to brush off the horrors of the 20th century as we brush off the horrors of the past today.

When this happens, the idea of the State returning will be met with both raucous laughter and great hostility depending on your age. The young will laugh at the idea of a short gargoyle woman saying a search engine must be “taxed “, and the old will remember the monster. – Beautyon

 

 

MINING

Miner Comfortable with Costs at Current Bitcoin Price

A bitcoin mine near the Arctic Circle is to start using 16 nanometer chips to improve mining efficiency. KnCMiner said the technology would make mining cheaper and allow it to increase production. The Stockholm-based firm has also secured $15m (£10m) in Series B funding led by Accel Partners. It said the extra money would allow it to expand and future-proof its mining operation.

KnCMiner CEO Sam Cole said the use of more advanced proprietary hardware was allowing bitcoin mines to cut costs. He also dismissed concerns that it was becoming too expensive to mine bitcoin.

“We do not think the cost is prohibitively high, if we did we’d turn our farms off. We’re also developing our own hardware in-house, using several proprietary techniques to achieve higher efficiency.”

He said that at the current rate of exchange (£158 is equal to one bitcoin at the time of writing) there would be “no problems”. Cole explained that KnCMiner was also able save money by using natural cooling as its bitcoin mines are all based either in or near the Arctic Circle.

The company has generated over $100m (£66m) in revenue since it launched in 2013 and plans to invest a further $150m over the next 18 months to improve and expand its services – James Temperton

 

 

ALTCOINS

The Euro

Alan Greenspan: “Greece Will Leave The Eurozone” And “There Is No Way That I Can Conceive Of The Euro Continuing”!

The Euro is going to die. This is a FACT. Bitcoin at today’s prices is an insane steal, and so is gold. Got Euro savings? You’re NUTS – Beautyon

 

Venezuelan Bolivar

Former President Hugo Chavez introduced currency controls in 2003 to stem capital flight. Since then, the country has devalued the main official exchange rate four times and alternated between single and multiple exchange rate systems.

When Chavez first introduced currency controls, one dollar bought 1.6 bolivars. That same dollar today buys 172 bolivars at the government’s weakest legal exchange rate – Nathan Crooks

 

Litecoin

Bitcoin Blockchain is secured by 335,000,000 GH/s of computing power vs Litecoin Blockchain by only 1,125 Gh/s thats circa 300,000X !!! – George Kikvadze

 

 

COMPANIES / PROJECTS / PRODUCTS

Purse.io

Roger Ver: Bitcoin’s killer app may have arrived in purse.io. Easily get huge savings on goods direct from Amazon.

Richard Stanway: Bitcoin’s killer app is credit card fraud?

Roger Ver: The majority of orders on PurseIO are paid for with Amazon credit earned from things likeAmazon Mechanical Turk, not credit cards.

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I just saved 40.0% on my Amazon purchase with bitcoin via PurseIO! This is getting insane. apparently i just leveled up to 50% on next one – Derek Minter

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Purse.io announced the launch of Nakamoto’s electronics, the first Bitcoin retail store in San Francisco.

“The concept of Nakamoto’s tech retail store follows the initial concept behind Purse.io, but in brick-and-mortar format, and aims to give more practical uses and applications for the digital currency on a local scale.”

Currently, Nakamoto’s electronics sell popular products including Chromebooks, Amazon Kindles, Apple headphones, and Raspberry Pis. The store offers at least 10% discount off the Amazon price when customers pay with bitcoin –  iamjosephyoung@gmail.com

 

Exponential Technology: The Smartphone Industry

Chipmaker ARM believes that with its new chips announced last week—a new Cortex-A72 processor and Mali-T880 GPU—we’ll be able to count on our smartphones to do all the tasks we currently need a computer to do.

The company is so confident of this, it’s projecting a date when we can go phone-only: 2016. That leaves us roughly 23 months to make it happen. But most of us are already phone-first today, and given the current speed at which the industry is moving, we’ll be rounding that bend very soon.

* ARM’s new CPU provides a 50x increase in performance over chips from five years ago, on 75 percent less energy than chips from three years ago.

* Apple’s A8 chip in the iPhone 6 is 50 times faster than the chip in the original iPhone, and its GPU is 84 times faster.

Christina Bonnington

 

Drone Waiters Unveiled in Singapore Restaurant

 

 

PRIVACY / SECURITY / INTERNET

GPG

That GPG works was one of the most powerful Snowden revelations – Michael Goldstein, The Satoshi Nakamoto Institute

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Use PGP whenever you can. Use it for boring things. Use it to encrypt guacamole recipes. Make the NSA’s life hard – Eva

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“Sony had all kinds of things: intrusion detection, firewalls, antivirus … But they got hacked anyway. The security measures that enterprises do frequently get breached. People break in anyway: they overcome them,” says Zimmermann.

“A lot of this stuff could have been encrypted. If those emails had been encrypted with PGP or GnuPG, the hackers wouldn’t have gotten very far. Those movie scripts that they stole? They could have been encrypted too.”

Zimmermann is a firm defender of strong encryption technology, suggesting that it’s one of the relatively few bona-fide success stories in the online security world.

“If you look at all the things that have been developed – firewalls, intrusion detection systems, all these things put in place to protect computers? They haven’t really hit a home run: they keep getting breached,” he says.

“But if you look at the Snowden material, the one thing that does seem to do well is strong encryption. Of all the things you see getting broken into, it’s conspicuously absent from that list.” – Stuart Dredge

 

 

PLACES

Hong Kong

Hong Kong is lowering already low taxes because of higher than expected budget surpluses! Such things are unheard of in rest of the world.

“There’s a need to stimulate the city’s domestic consumption by introducing measures to leave more cash in the hands of public”-a HK official !!

Screwed by State

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Autonomous drone delivering a chocolate bar from Kowloon side to the south side of Hong Kong island in less than 14 minutes – Sky Frog

 

Overseas Filipinos Can Pay Family Bills Back Home Using Bitcoin

Rebit, the Bitcoin remittance vertical of Philippine startup Satoshi Citadel Industries (SCI), has launched a new service that allows overseas Filipinos workers (OFWs) to play an active role in managing the finances of their families back home.

Aside from sending remittances, Filipinos abroad can now directly pay for their families’ bills and load their mobile phones with prepaid credit using Bitcoin via Rebit. Rebit has over 91 bill payment options and five “e-load” providers on its network.

Remittances worth about US$30 billion flow into the Philippines via banks and third-party cash pick-up services annually, according to Rebit. These have been a crucial lifeline for Filipino families who spend the funds largely for basic needs – Judith Balea

 

 

THE SINGULARITY

Peter Thiel hasn’t made his peace with death, or what he calls “the ideology of the inevitability of the death of every individual.”

For millions of people, Thiel believes, accepting mortality really means ignoring it—the complacency of the mob.

He sees death as a problem to be solved, and the sooner the better. Given the current state of medical research, he expects to live to a hundred and twenty—a sorry compromise, given the grand possibilities of life extension – George Packer

 

New Technique Fights Aging

A new technique, developed by Stanford scientists, can extend the life of cultured cells and offer clues to solving diseases and prolonging life.

The technique can quickly increase the length of human telomeres, the protective caps on the ends of chromosomes. As a result, the treated cells behave as if they are much younger and multiply with abandon in the laboratory dish – rather than stagnating and dying. Normally, telomeres shorten with each cell division, and this is the reason a cell eventually dies.

Now we have found a way to lengthen human telomeres by as much as 1,000 nucleotides, turning back the internal clock in these cells by the equivalent of many years of human life,”said Helen Blau, PhD, professor of microbiology and immunology at Sanford, in a statement.

“This new approach paves the way toward preventing and treating disease of aging,” said Blau. “There are also highly debilitating genetic diseases associated with telomere shortening that could benefit from such a potential treatment.” – Harrison McClary

 

An AI Turning Point: Humans Beaten On Image Recognition Challenge

The challenge involved identifying objects in the images and then correctly selecting the most accurate categories for the images, out of 1,000 options. Categories included “hatchet,” “geyser,” and “microwave.”

Microsoft’s AI got a 4.94 percent error rate for the correct classification of images

Humans = 5.1 percent error rate among humans

“To the best of our knowledge, our result surpasses for the first time the reported human-level performance on this visual recognition challenge,” Microsoft researchers Kaiming He, Xiangyu Zhang, Shaoqing Ren, and Jian Sun wrote in the paper, which is dated Feb. 6 – Jordan Novet

 

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