Twitter Experience Worsens, Ether Fake Giveaways Taking Over

Twitter Experience Worsens, Ether Fake Giveaways Taking Over

Fake ether token giveaways are clogging Twitter threads, and seemingly by the second. Targeting well-known ecosystem figures, doppelganger accounts are created, complete with matching avatars. A particularly active post can almost assuredly be counted on to receive seemingly organic calls for participation in free crypto programs hosted by the respective personality. And now they’re incorporating Google+ redirects. And it’s working. And Twitter seems to be either doing nothing about it or is just plain impotent.  

Also read: Crypto and Virtual Reality Meet in Ken Liu’s Science Fiction

Twitter Crypto Celebs Hounded by Fake Giveaways

Ari Paul, investor guru from Blocktower hedge fund fame, was on another multiple tweet philosophical lecture, spaced out and numbered. The topic was a meditation on over the counter and regular exchanges’ impacts on price. It proved so interesting, no personage less than Laura Shin, Forbes journalist, popular podcast host, and ecosystem gadfly attempted a read. She soon came up against what more and more Twitter users are facing: fairly elaborate ether (ETH) come-ons, fake giveaways using mirror’d accounts.Twitter Experience Worsens, Ether Fake Giveaways Taking Over

Ms. Shin’s trademark Valley Girl patois could almost be heard echoing through her corresponding response tweets of disgust and alarm: “Ari wrote an interesting thread, but FYI, @twitter and @jack, my experience reading it was marred by all the spam accounts touting free ETH that made it harder for me to find the real discussion.”

Just a few clicks later, and she discovered another awful truth: she’d been personally compromised. Someone with the account @XaedenJ was using Ms. Shin’s professional reputation and likeness to tacitly approve a 10,000 Ethereum giveaway, and it directs readers to a website asking for payment. The scam even went so far as to create a thread conversation about the giveaway, in effect dialoguing with itself. “If you’re late for this event,” the fake Laura Shin posted below the landing page advert in the thread, “you’ll get your investment back at once!”

A little more digging, and she found the offending scam post garnered a quick 28 likes, which were probably from bots designed for the very purpose. These could seem rather enticing to cryptocurrency noobs, and thus the problem. In utter exasperation, Ms. Shin, the real Ms. Shin, tweeted, “Someone please create a better Twitter. This is ridiculous.” At press time, the offending address, @XaedenJ, was scrubbed by Twitter, taken down permanently, and way too late.  

Twitter Experience Worsens, Ether Fake Giveaways Taking Over
A common auto response certainly not helping Twitter in a branding war.

Over 4,000 ETH Scams Logged, Hundreds Ongoing

Ms. Shin’s platform, her access to movers and shakers within the industry, made it easy for Twitter to recognize the problem and take immediate-ish action. But, again, it was too late. It went out there, and no doubt some were probably lured. It, of course, isn’t just Ms. Shin who is being hounded.

Twitter Experience Worsens, Ether Fake Giveaways Taking Over
Scam landing page.

For whatever reason, ether (ETH) tokens make these sorts of scams very easy. Part of the Stanford Mafia, and cofounder of crypto-related startups Bloom and Cognito, John Backusperformed a quick, back of the envelope calculation about ETH related scams. He found “ETH ‘scam’ giveaways staggering numbers: 8,148 ETH ($4.9M) received (between scams and baits); A fool sent 30 ETH to fake Erik Voorhees […]; Over 4000 scams logged; Almost 700 “ongoing” scams logged.”

He was quick to differentiate scams related to Twitter, roughly 500 of that number derived from the social media site, of the overall thousands of ETH giveaway frauds cataloged. His calculus includes any “kind of scam, including phishing scams that have nothing to do with Twitter,” he typed.  

Twitter Experience Worsens, Ether Fake Giveaways Taking Over
Note how Twitter’s CEO responded over four months ago.

It’s to the point where a tracking website exists to keep abreast of ETH scams as they happen, are discovered, and end. Appropriately titled Ethereum Scam Database, it’s maintained by My Crypto, and includes a Github reference along with detailed reporting instructions. The project is open source, however “All reports end up in a private Slack to protect people’s privacy. The reports can be read by all team members of [My Crypto] and they can decide whether the report makes it to the blacklist,” they explained.

Twitter Experience Worsens, Ether Fake Giveaways Taking Over

My Crypto recommends “Use cold storage – Buy a Ledger Nano S or a Trezor; Bookmark your crypto sites – Use those bookmarks and only those. Only send funds to trusted addresses – Double-check what address you’re sending ETH to. Look up the address at etherscan.io and check if there are bad reviews; Never trust any discord/slack/telegram/reddit message – Don’t ever fall for messages that say you can get free ETH or that a hack has occurred.”

Do you think such scams hurt the brands of Twitter and ETH? Let us know in the comments. 


Images via the Pixabay, Twitter.


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Industry Representatives Criticize Google’s Crypto Ad Ban

Industry Representatives Criticize Google's Crypto Ad Ban

With Google’s ban on cryptocurrency advertising set to formally come into full effect this month, many representatives of the cryptocurrency and investment industries have spoken out against the company’s move.

Also Read: Russian Court Overturns Decision to Block Bitcoin Website

Google Ban Expected to Come Into Effect This Month

Google announced that it would ban cryptocurrency advertising on its platform in March, following numerous anecdotal reports of declining ad performance on the company’s platforms from companies promoting initial coin offerings (ICOs). The move followed the implementation of similar advertising restrictions on Facebook.

The post stated that ads promoting “Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice” would no longer be served on the company’s platforms “In June.”

Business Community Criticizes Crypto Ad Ban

Industry Representatives Criticize Google's Crypto Ad BanThe prohibitive policy regarding cryptocurrency adverts has garnered criticism from the community.

Revolut’s head of mobile, Ed Cooper, stated of the ban “Unfortunately, the fact that this ban is a blanket ban will mean that legitimate cryptocurrency businesses which provide valuable services to users will be unfairly caught in the crossfire. A more targeted approach would definitely be preferable: it would seem heavy-handed for example to put a blanket ban on all ads for job postings, anti-virus software or charities just because ads for these products and service are also sometimes used as an entry point by scammers to target consumers.”​

The chief executive of UK-based investment firm Blackmore Group has accused Google of banning cryptocurrency ads due to harboring intentions of developing its own cryptocurrency. “I understand that Facebook and Google are under a lot of pressure to regulate what their users are reading, but they are still advertising gambling websites and other unethical practices. I suspect the ban has been implemented to fit in with potential plans to introduce their own cryptocurrency to the market in the near future and therefore removing other crypto adverts allows them to do it on their own terms.”

Whilst no hard evidence of Google having expressed a desire to develop a cryptocurrency exists, a spokesperson for the company told Business Insider “Like many new technologies, we have individuals in various teams exploring potential uses of blockchain but it’s way too early for us to speculate about any possible uses or plans” in March. In May, Ethereum’s founder, Vitalik Buterin, shared a screenshot of an email from Google’s recruiting department, further fueling speculation that Google may be considering a foray into distributed ledger technology.

Google as “Gatekeeper of Information”

Industry Representatives Criticize Google's Crypto Ad BanGareth Malna, a fintech lawyer at Burges Salmon, has stated that “The decision by Google to act as a quasi-regulator in this context is a potentially troubling development given its vast commercial power.”

“​For Google to step in and block that market may sound like consumer protection, but is potentially overstepping its perceived role as gatekeeper to information,” Mr. Malna said.

Do you think that Google and Facebook will reverse their ad bans targeting cryptocurrency in the near future? Or are the restrictions here to stay? Join the discussion in the comments section below!


Images courtesy of Shutterstock


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The Word “Ethereum” Has Been Googled More Than 110 Million Times

Given the impact Ethereum has had on blockchain development since its founding in 2015, it’s hard to imagine what blockchain and cryptocurrency would be like today without it. “Ethereum” Has Appeared in 110 Million Google Searches ConsenSys, a blockchain venture production studio building decentralized applications on Ethereum, offered a census of the cryptocurrency’s contributions to … Continued

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Apple Sides with Russian Govt, Restricts Telegram, Claims Pavel Durov

Apple Sides with Russian Govt, Restricts Telegram, Claims Pavel Durov

If there’s a sacred line the crypto community insists shouldn’t be crossed, it’s Thou Shalt Never Cooperate with Government Prohibitions. Apple Inc., the world’s most valuable company, appears to have ventured into such territory, according to Telegram’s founder Pavel Durov. He claims the maker of iPhone, iPad, and other iconic hardware, is purposefully restricting Telegram’s program updates on Apple’s latest operating system rollout in an effort to appease Russian authorities.  

Also read: Philippines’ Crypto Wallet Reaches 5 Million Users, Adds More Coins

Apple Inc. Sides with Russia Against Telegram

“Apple has been preventing Telegram from updating its iOS apps globally ever since the Russian authorities ordered Apple to remove Telegram from the App Store,” Telegram’s Pavel Durov wrote on his quarter million member Durov’s Channel. “Russia banned Telegram on its territory in April because we refused to provide decryption keys for all our users’ communications to Russia’s security agencies. We believe we did the only possible thing, preserving the right of our users to privacy in a troubled country.”

Apple Sides with Russian Govt, Restricts Telegram, Claims Pavel Durov

As reported in these pages two month ago, “Supreme Court Judge Alla Nazarova […] rejected an appeal filed by Telegram, objecting to Russia’s Federal Security Services (FSB) obtaining the encryption keys to its platform. As a result, Telegram will be legally obligated to grant security forces access to the private messages and other data of its users, unless it can convince an appellate court to reverse the decision.”

Weeks after, a kangaroo Moscow court upheld that decision, ordering Telegram to comply. Then, as like now, Mr. Durov took to his personal channel, explaining defiantly, “The power that local governments have over IT corporations is based on money. At any given moment, a government can crash their stocks by threatening to block revenue streams from its markets and thus force these companies to do strange things (remember how last year Apple moved Icloud servers to China). At Telegram, we have the luxury of not caring about revenue streams or ad sales. Privacy is not for sale, and human rights should not be compromised out of fear or greed.”

Apple Sides with Russian Govt, Restricts Telegram, Claims Pavel Durov

Apple Also Hounded by Russian Authorities

By late Spring of this year, Telegram had gone full protest mode. “For us, this was an easy decision. We promised our users 100% privacy and would rather cease to exist than violate this promise,” Mr. Durov stressed. “To support internet freedoms in Russia and elsewhere I started giving out bitcoin grants to individuals and companies who run socks5 proxies and VPN. I am happy to donate millions of dollars this year to this cause, and hope that other people will follow. I called this Digital Resistance – a decentralized movement standing for digital freedoms and progress globally.” Supporters even responded to Telegram’s call for a paper airplane mass fly, providing a profound and somewhat beautiful symbol of cryptography’s ultimate power.

For its part, Apple has been hectored by the Russian government’s telecommunications minder, which recently stressed, “In order to anticipate Roskomnadzor’s likely response to the violations regarding the operation of the aforesaid Apple, Inc. services we are asking you to notify us within the tightest deadlines of the company’s further actions regarding the solution of these issues,” Tass reported. The order was directed at both Apple and its App Store along with Google and its Google Play store to effectively drop Telegram.  

Apple Sides with Russian Govt, Restricts Telegram, Claims Pavel Durov

Mr. Durov lamented, “Unfortunately, Apple didn’t side with us. While Russia makes up only 7% of Telegram’s user base, Apple is restricting updates for all Telegram users around the world since mid-April. As a result, we’ve also been unable to fully comply with GDPR for our EU-users by the deadline of May 25, 2018. We are continuing our efforts to resolve the situation and will keep you updated.”

Do you think Apple should fight the Russian government ? Let us know in the comments. 


Images via the Pixabay, Twitter.


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Google Tries Hiring Vitalik Buterin for a Secret Crypto Project

In a recent tweet, Vitalik Buterin posted a screenshot of a mail from Google with a job offer for him. He posted the mail, along with a follow-up tweet which had a poll asking his followers if he should take up Google’s offer. In his original tweet, Vitalik failed to hide the recruiter’s name, email … Continued

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Ethereum [ETH]: Vitalik Buterin Scouted by Google

Ethereum [ETH]

Ethereum [ETH] – Ethereum’s [ETH] co-founder, Vitalik Buterin, seems to be a hot commodity in the tech space, as he tweeted two days ago that Google was actively trying to recruit him for a job. Buterin asked his followers if he should ‘drop’ Ethereum and work for Google and then tweeted a poll following the question.

Source: Twitter

Surprisingly, there was a high volume of people that felt it was a good move for the founder to go to the tech giant. Buterin has since deleted the tweet and poll.

...

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Bitcoin in Brief Saturday: Warren Warned By Billboards, Coinbase Tempted by Banking

Bitcoin in Brief Saturday: Warren Warned By Billboards, Coinbase Tempted by Banking

In Bitcoin in Brief today, billionaire Warren Buffett has been reminded that he was wrong about Google and Amazon, and told he might be wrong about bitcoin, too. Billboards have appeared outside his office to convey the message of the crypto community. Also, a report suggests that the US cryptocurrency exchange Coinbase may apply for a banking license. Some conflicting views on the future of the Internet and its money complete Saturday’s roundup.  

Also read: Bitcoin in Brief Friday: UN Backs Crypto-Solar Project in Moldova, Malta Uses Blockchain in Public Transportation

“Warren: Maybe You’re Wrong About Bitcoin?”

Bitcoin in Brief Saturday: Warren Warned By Billboards, Coinbase Tempted by BankingBillionaire investor Warren Buffett, known for his negative attitude towards cryptocurrencies, has been targeted in a bitcoin advocacy campaign lead by one of the largest cloud mining companies. Genesis Mining has recently posted billboards in front of Buffett’s office reminding him that he was wrong about Google and Amazon, and telling him that he may very well be wrong about bitcoin, as well.

The initiative has received a lot of support from the crypto community on social media. Genesis co-founder Marco Krohn posted on Twitter photos of the message to the investment guru with a short note saying: “Some new billboards outside of Warren Buffetts office! :)”

Earlier this month, the American business magnate issued another warning in regards to bitcoin and the like. “Cryptocurrencies will come to a bad ending,” he said during the annual Berkshire Hathaway’s shareholder meeting, but he didn’t stop there. “If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it but I would never short a dime’s worth,” he said, concluding that bitcoin is “probably rat poison squared.” Needless to say, Buffett’s comments provoked reactions and even inspired new business ideas. A tokenized marketplace called Ecoinmerce has announced the “Rat Poison Squared clothing line.” Т-shirts and hats are already offered online, but one can also order a mug with the winged phrase.

The Money of the Internet and the Internet of Money

Square CEO Jack Dorsey has recently reiterated his views about bitcoin. “The internet is going to have a native currency, so let’s not wait for it to happen, let’s help it happen,” he said during a blockchain conference, adding: “I don’t know if it will be bitcoin but I hope it will be.” Dorsey, who is also the chief executive of Twitter, wants his payment processing company to be at the forefront of the efforts to achieve adoption of cryptocurrencies as global means of payment. In an interview in March, he predicted that there will be a single world currency in the next ten years. The billionaire believes that will be bitcoin, although he admits the cryptocurrency is still slow and costly.

Bitcoin in Brief Saturday: Warren Warned By Billboards, Coinbase Tempted by Banking

Circle co-founder and President Sean Neville, however, has a different vision of what’s to come for the digital space and the digital currencies. “Very excited about the idea of reimagining what global finance can be,” he says that a dollar token is the future of the Internet of money. “One of the things that’s interesting for us is how we take fiat money and put in on blockchains, how do we get the benefits of a public blockchain infrastructure, which might underpin something like HTTPS of money,” he told Bloomberg.

Neville thinks there is a problem with using existing crypto assets for payments and settlements – they are very volatile. “So, it makes sense to have something like the US dollar represented as a token that can transfer anywhere in the world, to any digital wallet and any exchange that can support it,” he explained. Sean Neville, whose company raised $110Mn USD in a fundraising round led by Chinese giant Bitmain, believes that “we need a replacement for SWIFT.” He also predicted that eventually everything of value will be tokenized in a “hybrid world” of centralized and decentralized services. Boston based Circle has announced plans to issue a dollar-backed cryptocurrency called USD-C.

Coinbase May Apply for a Banking License

Bitcoin in Brief Saturday: Warren Warned By Billboards, Coinbase Tempted by BankingBy attracting some serious investments, Circle has actually joined the club of the most well-funded cryptocurrency companies. Another of its members, Coinbase, seems tempted to expand its financial business to include banking services. According to a report by the Wall Street Journal, representatives of the crypto brokerage have met with US regulators to talk about the possibility to apply for a banking license.

A source quoted by the WSJ has revealed, that the company, which operates the largest cryptocurrency exchanges in the United States, has contacted officials from the US Office of the Comptroller of Currency earlier this year to discuss the matter. Beside the opportunity to broaden the types of products it offers, a banking license would allow Coinbase to operate without the need to partner with banks.

What are your thoughts on today’s Bitcoin in Brief stories? Tell us in the comments section below.   


Images courtesy of Shutterstock, Marco Krohn (@mkrohn5).


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PR: Myidm Launches Post Quantum Computer Security

Myidm Launches Post Quantum Computer Security

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Encryption is one of the most important methods for providing data security. Encryption is widely used on the internet to protect user information being sent between a browser and a server, including passwords, payment information and other personal information that should be considered private. However, with recent developments in quantum computers, more powerful and capable than “traditional computers”, the “traditional” data security comes to a threat. Are we prepared for post-quantum era cyber security? IDM service provides today a complete post-quantum protection for tomorrow. With new SIZE algorithm IDM team has developed a security solution to tackle the quantum computer supremacy.

Quantum computer development
Quantum computing takes advantage of a strange ability of subatomic particles to exist in more than one state at any time. In common digital computing, a bit is a single piece of information that can exist in two states – 1 or 0. Quantum computing uses quantum bits, or ‘qubits’ instead. These are quantum systems with two states. This difference allows a future quantum computer to solve some difficult mathematical problems easier, faster and with less energy.

Quantum computers operating on completely different principles to classic computers can solve particular mathematical problems, like finding very large prime numbers. This problem is classically very difficult to solve. In fact, it is so difficult that it forms the basis of RSA encryption, probably the most popular method of encryption used today. Since prime numbers are so important in cryptography, it is likely that quantum computers would be able to crack practically any of the existing data security systems.

To estimate the scope of a potential security problem we have to answer few questions: What kind of attacks can quantum computer perform? What are the most vulnerable scenarios? How far away is the quantum computing? How can we prepare for the future?

Today Google, IBM, Honeywell, Microsoft, Rigetti and some other companies and laboratories are developing a quantum computer. Currently, with the number of qubits less than 100, a quantum computer is far from being practically viable. However, continuous research and development are bringing fast the day when a quantum computer could surpass the abilities of conventional computers. In anticipation to this day IDM has developed a solution for protection of data security from quantum supremacy. This solution is very different from commonly employed encryption methods.

Quantum threat to encryption
Quantum computer is a threat to data security. There are some particular scenarios, use cases, algorithms necessary to consider when referring to the quantum supremacy.

Hash algorithms
Cryptographic hash algorithms are the basis of blockchain technology. It is the hash function that protects any blockchain record from being modified. In addition, the proof-of-work system uses a hash to control the difficulty level of mining process. There are many other use cases of these algorithms, which are very popular in any industry: it is a part of the digital signatures and helps to store password securely.

A hash function maps input data of arbitrary size to a fix size (a hash) and is designed to be a one-way, that is, a function which infeasible to invert. Any change in input data leads to a different hash. The hash function is irreversible: it is impossible to retrieve input data from output hash string.

Is it possible to mine all Bitcoins at once with quantum computer?
Alex Beath, a Toronto-based physicist, formulated a popular idea: the first quantum computer will mine all of the remaining Bitcoins instantly. There are different opinions in the scientific and crypto community, which are based on theoretical research and practice. Briefly, to make quantum computer be practically useful for Bitcoin mining, we need thousands of qubits. It will eventually happen in 10-20 years from now when 99% or more bitcoins will be in circulation.

Are my passwords safe?
When we read news about brute force attack on passwords, such as attack on WordPress in 2017, we worry about our password strength. How is it being done? It is not possible simply to continue retyping passwords directly into a user interface of a site or service: the protection such as captcha prevents such attack. Most modern services store passwords as hashes. Attackers somehow obtain user database with these password hashes and match these hashes with dictionaries of common password hashes. The brute-force searching with a quantum computer will probably be much faster. IDM allows to store complicated, very long passwords and all your sensitive data in a quantum resistant manner.

Symmetric Encryption
Symmetric algorithms apply the same key for encryption and decryption. We use such algorithms as AES for storage and transition of sensitive data, including access to banking accounts. Probably, a quantum computer will be able to break easily the popular 128-bit AES algorithm by the Grover algorithm in several years. To prevent losses, information security community already discusses AES-256 as a medium-term protection against the quantum attack.

Increasing the algorithm complexity with a key length is just a temporary measure. The ultimate solution offered by IDM allows to protect data completely and on a permanent basis.

Asymmetric Encryption
Public or asymmetric encryption, including RSA and elliptic curve techniques, is very popular on the Internet and in cryptocurrency word. Cryptocurrency transaction uses a signature and a public key to verify that it was the owner of the private key that signed it. It is an example of public algorithm usage. Other examples include access to websites, messaging, sending e-mails.

Because asymmetric encryption uses two connected keys – private and public – it is more vulnerable than symmetric. Dr. Michele Mosca, deputy director of the Institute for Quantum Computing at the University of Waterloo, Ontario, estimates the chance that some fundamental public key crypto will be broken by quantum computing by the year 2026 as one in seven, and a one-in-two chance of the same by 2031.
MIT is constantly exploring this too. In 1994, Peter Shor, a math professor at MIT, invented an algorithm able to crack asymmetric encryption by the quantum computer. In 2015, MIT demonstrated practical ability to break RSA by the quantum computer.

The threat to public encryption is tangible and cannot be eliminated by a simple key length extension. Information security specialists are discussing different types of algorithms, such as lattice-based cryptography and error-correcting codes.

IDM is based on the SIZE technology utilizing new type of error-correction codes.
The out of the box solution

The purpose of the data encryption is to transform information in order to prevent unauthorized access to it. IDM guarantees a prevention from unauthorized access by applying the SIZE algorithm. The SIZE algorithm relates to a class of correction codes that correct errors, producing multi-level file transformation, same way as encryption algorithms do. And just like encryption algorithms, our code makes unauthorized access to the data impossible.

For data protection, the SIZE algorithm applies well-known digital electronics operations. However, these operations have never been applied to special algorithms with a special sequence of mathematical operations and have never been used to protect information. The algorithm is used to transform any digital content into a new form — a set of digital packages. Each of these individual packages has no functional value and may not contain a single bit of the original information. To restore the original information, it is necessary to reassemble the original file from a set of packages in a specific way, performing a series of mathematical operations.

There is an infinite number of ways to transform data, the algorithm specifies only the general direction of the process. The data transformation is user specific, so no-one else can access this data, except for the user.

To summarize, the SIZE technology guarantees privacy and security for a data storage and transmission. The algorithm characteristics fully meet requirements for the post-quantum protection system.

In addition to ultimate protection, IDM’s technology provides the highest level of data recovery and has minimum requirements for computing resources. We provide an excellent opportunity for everyone to share the success of the company. On May 28th we start a crowdfunding campaign on our site. Join us to be a part of the secure future!

Supporting Link
https://www.myidm.io/
Contact Email Address
info@myidm.io

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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World’s Second Largest Search Engine Bans Crypto Ads

World’s Second Largest Search Engine Bans Crypto Ads

Melissa Alsoszatai-Petheo, of Microsoft’s Bing search engine, announced its advertising arm is banning all cryptocurrency advertisements. This follows market leaders such as Google, Facebook, and Twitter either severely restricting crypto ads or banning them altogether.

Also read: Ethereum Futures in US One Step Closer as CME Deal is Struck

Microsoft’s Bing Search Engine Bans Crypto Ads

Advertiser Policy Manager, Melissa Alsoszatai-Petheo, posted an update to Microsoft’s Bing search engine ad policy. Bing Ads to Disallow Cryptocurrency Advertising is the title of the company’s rather obvious move. “We are always evaluating our policies to ensure a safe and engaging experience for our Bing users and the digital advertising ecosystem,” Ms. Alsoszatai-Petheo began. “Because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers.”

World’s Second Largest Search Engine Bans Crypto Ads

Bing has consistently ranked a very distant second behind the Google juggernaut, which gobbles up better than 60% of search traffic on the internet. Google at the beginning of 2018 announced a far more specific series of cryptocurrency related prohibitions, down to defining contract for difference (CFDs) products.

It wasn’t too much later when Facebook followed, as we reported at the end of January, with “a new ruling issued on January 30, ‘ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency.’” Twitter too, a mere two months later, presented its new advertising policy, severely restricting initial coin offering (ICOs) and token sales.

World’s Second Largest Search Engine Bans Crypto Ads

Protection is the Pretext

“To help protect our users from this risk,” the notice from Bing continued, “we have made the decision to disallow advertising for cryptocurrency, cryptocurrency related products, and un-regulated binary options. Bing Ads will implement this change to our financial product and services policy globally in June, with enforcement rolling out in late June to early July.”

Other than seeking a press cycle of promotion, it does appear “scams” were a bit of a problem during 2017, according to Bing’s annual report. “Tech scams are widely used by bad actors and we rejected 25 million ads in this category in 2017,” they insisted. And under the banner of misleading ads, Bing noted how last “year, we took down 30 million such ads, 20,000 such websites and 43,500 bad actors.”

Do you think crypto ad bans will have a negative impact? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


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The UK and USA need to extend their “special relationship” to technology development

The UK and the USA have always had an enduring bond, with diplomatic, cultural and economic ties that have remained firm for centuries.

We live in an era of profound change, and are living with technologies set to change things ever faster. If Britain and America work together to develop these technologies for the good of mankind, in a way that is open and free, yet also safe and good for our citizens, we can maintain the global lead our nations have enjoyed in the fields of innovation.

Over past months we have seen some very significant strides forward in this business relationship. All of the biggest US companies have made decisions to invest in the UK. Apple is developing a new HQ in the iconic Battersea Power Station, close to the new US embassy, while Google is building a billion dollar new HQ in the increasingly fashionable King’s Cross. Facebook, Amazon, IBM and Microsoft are all extending their operations, and a multitude of smaller US firms are basing their international headquarters in London.

They are all coming here because as we prepare to leave the EU we are building a forward looking Britain that is open to the wider world, and tech is at the heart of this.

Similarly, there have been major expansions or new investment from British firms into the US. Jaguar Land Rover, the UK’s largest automotive manufacturer, supports more than 9,000 jobs in the USA and have recently opened their new multimillion-dollar corporate North America HQ in New Jersey.  iProov, a leading British provider of biometric facial verification technology, became the first international company to be awarded a contract from the US Department of Homeland Security Science & Technology Directorate’s Silicon Valley Innovation Program last month.

We want to work with our global partners – to share expertise, and encourage investment – as we harness technology for the wider good. And that of course includes our old friend and closest ally, the USA.

We have a great deal to offer.

The UK was recently ranked the most AI ready nation among all the OECD countries. In the past three years, new AI start-ups have been created in the UK on an almost weekly basis.

Recently, UK government and industry together committed over $1 billion to support our AI sector, much of which will go towards entrepreneurs. Funding has been set aside to create a nationwide network of tech incubators, that we’re calling “Tech Nation”, which will support new AI businesses as they get off the ground.

We are also excited by — and I am a firm advocate for — the development of blockchain and similar technologies. The UK is leading the way in many areas where blockchain has the potential to be used, such as Fintech. There are now more people working in UK Fintech than in New York or in Singapore, Hong Kong and Australia combined.

And we are eminent in the development of immersive technologies, like Augmented and Virtual Reality, which look set to radically improve many areas of life in coming years, with applications as varied as flight simulation and surgical training techniques.

There is so much to be gained from close collaboration between our two countries on these new technologies and from sharing our expertise.

Together, we can reap the economic benefits of stealing an early lead in their development. We estimate that AI, for example, if widely adopted, could add $33 billion to the UK economy. But, perhaps most importantly, we can also work together to build a strong regulatory and ethical frameworks for their wider application.

It is the role of governments across the world, the UK and US included, to set frameworks for these decentralised, cross border systems so we can manage their use in a safe and effective way.

Our aim should be to harness the power and capability of technology but always for the benefit of, and in service to the populace.

We in the UK are avowedly pro-tech, always seeking to put its power in the hands of our citizens.

We have all learned valuable lessons from the recent scandals regarding data use, most recently around Facebook’s use of data.

We want to build a system that protects and cherishes the freedom of the Internet while protecting the rights of individuals, and their property, including intellectual property.

We want to see freedom in a framework; where our tech entrepreneurs have the space to innovate, knowing they do so with full public trust. Trust underpins a strong economy, and trust in data underpins a strong digital economy.

So in the UK we are developing a Digital Charter, to agree norms and rules for the online world and put them into practice. Our starting point is that what is unacceptable offline should not be tolerated in the online world. That includes how tech companies treat private citizens and use their data, as well as how people treat each other online.

Important changes like these cannot be agreed by one country alone. It is more important than ever that we work together and find common ground so we can make sure that tech continues to change the world for the better. Based on our mutual love of freedom and individual rights Britain and America have through history risen to challenges together. I firmly believe working together we can build that brighter future.

Ethereum Mining Helping Drive Computing Boom, Says Google Co-Founder

Google co-founder Sergey Brin credits ethereum mining with playing a central role in the recent “boom in computing” that is helping drive a “technology renaissance.” Brin made the statements in a glowing letter to investors, where he gushed, “We are truly in a technology renaissance, an exciting time where we can see applications across nearly every … Continued

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Three Former Google Employees Create Blockchain Community

xGoogler Blockchain Alliance

There are a lot of people hopping on the Blockchain bandwagon. That’s not necessarily a bad thing, though. After all, blockchain technology has a number of benefits. In fact, people are even claiming the decentralized technology could help solve the ongoing data crisis. Whether or not that’s true, people have continued to move into the blockchain sphere. And the latest to do so? Three former Google employees who have now created the xGoogler Blockchain Alliance.

xGoogler Blockchain Alliance – Former Google Employees Move into Blockchain

Yesterday, reports surfaced that three former Google employees created a blockchain ...

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