Bitcoin Worth $3 Billion Expected to be Mined in 2020 – Bitcoinist

According to recent estimates, bitcoin mining in 2020 is expected to take off at an explosive pace. Miners are predicted to mine around $3 billion worth of BTC as per the coins current price.

Bitcoin mining has always been a crucial part of the BTC network. Mining involves validating transactions, adding blocks to the blockchain, which leads to the production of new BTC adding to bitcoins total supply

It has been growing at a pretty steady rate over the years, and as more people became interested, bitcoin mining difficulty continued to appreciate. Meanwhile, two subsequent BTC halvings led to an increase in the bitcoin price due to reduced supply and increased demand.

Bitcoins infamous price volatility has both been rewarding and besetting for all market participants. BTC miners especially have had a tough time navigating through this volatility, as it affected the coins value, and therefore their earnings. The extreme bitcoin price movement in 2018 led to many unplugging their mining gear and leaving the industry, as the cost of producing BTC exceeded the profits.

Recent reports, however, indicate that bitcoin miners are in for some respite. As per South China Morning Post, Nasdaq listed bitcoin mining equipment manufacturer Canaan has partnered with Hong-Kong based digital asset liquidity providers and market makers to offer risk management products and methods to their clients in order to protect them from volatility in bitcoin prices.

Canaans strategic Interhash will be offered customized financial instruments such as swaps and collars by GSR. These will help them skirt losses and expedite returns on available inventory. These risk hedging alternatives are pretty crucial in the bitcoin mining business. According to the manager of Canaans blockchain division, Kevin Shao, there arent any hedging instruments that match a miners production costs and production cycle.

Experts predict that 2020 will be a very successful year for the bitcoin mining industry. GSR predicts that around $3 billion worth of BTC will be mined globally next year (at current prices). The estimate is made with the assumption that Bitcoins blockchain will produce around 1,800 coins per day. But the numbers may appreciate after the halving in May 2020, since production will reduce to 50% (900 coins per day).

New BTC mining operations will come up across the world in different geographies such as Russia, Canada, and the US, which may reduce Chinas monopoly and truly decentralize the bitcoin mining ecosystem.

Financial products such as hash rate futures will help bitcoin miners hedge themselves against the fluctuating BTC hash rate, as was reported by Reuters, a few days back. This might lead to an overall strengthening of confidence in bitcoin mining and the attraction of participants in droves to contribute their available power.

What are your thoughts on the state of the bitcoin mining industry? Do you expect new miners to arrive in 2020? Let us know your thoughts in the comments below.

Image via Shutterstock

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Bitcoin Worth $3 Billion Expected to be Mined in 2020 - Bitcoinist

Bitcoin Price Analysis: Is This the Ultimate Bottom for Bitcoin? – U.Today

Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

In this article,U.Today is going to take a look at the Bitcoin/USDT trading pair on the Binance exchange.

As you can see from the chart, the price holds below all three moving averages, and the current major level is the local low at $6500 level.

If we take a look at the MACD histogram,we will see that the indicator has been signaling a divergence from Sept. 25. We can say about the RSI indicator, which is about to get in the oversold area again.

On the four-hour chart, the RSI has jumped out from the oversold area while MACD still shows the divergence. This set-upcan turn bullish fast in this case, so it is very interesting how high the current bounce is going to get.

Lets try to adjust the current chart to Elliott waves to find some additional points of our interest.

After we reachedthe local high at $14,000, the downtrend started to zigzag, which means that we saw the correction on the previous impulse. What does it mean for us? It means that we have a high probability to see a new high without breaking the December 2018 low of $3,150.

Of course, for most people, a reasonable question is where the correction ends...One of the possible ways, you can find on the chart below. It is the scenario where we are in the complex WXY correction. And this corresponds to the expectations of trading legend Peter Brandt.

If we take a closer look and zoom in to thefour-hour timeframe, we will find the leading diagonal (marked as five waves) but we have broken the low of this impulse. It could mean that we are in an extended flat pattern. If that scenario is correct, we are about to see some growth.

The weekly chart of the total market cap looks bearish. But, you can see how the curve of the negative trend has been changed by the sudden $5 bln rise. That could be the point where the market sentiment is going to turnbullish.

On a daily chart, the situation looks much better because here we have already broken the negative trend and this can be interpreted as a return of some demand if we are talking about the SPOT market.

In general, the situation is quite interesting. Lots of traders would like to see another panic sale, but perhaps Bitcoin will not present give us such a gift this time.

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Bitcoin Price Analysis: Is This the Ultimate Bottom for Bitcoin? - U.Today

Bitcoin History Part 22: The New Wealthy Elite – Bitcoin News

I am pretty confident we are the new wealthy elite, gentlemen, even with a sum as small as 10 bitcoins The world just isnt going to be the same and we have been blessed as the pioneers. When these remarks were made in June of 2011, they seemed hopeful to the point of delirium. Commencing a thread on the Bitcointalk forum, the declaration triggered a wide-ranging discussion about Bitcoins potential in the years to come, with the thread eventually topping out at 232 pages. Opinion was divided, but looking back, that anonymous posters prediction was prescient.

Also read: Bitcoin History Part 21: Miners Pour One out for Satoshi

When the original poster wrote The world just isnt going to be the same, he wasnt talking about politics, war or ever more powerful AI systems: he was forecasting a time when cryptocurrency powers the global economy, with bitcoins price steadily rising in line with demand. In an attempt to inspire some smug bonhomie about this notion, the poster proclaimed We have been blessed as the pioneers before asking what the others were going to do with their Bitcoin wealth once your coins hit upwards of $10,000 a pop.

As we know, that prediction was accurate: bitcoin hit its all-time high of $20k on December 18, 2017, just six-and-a-half years after the post, at which time a single BTC cost a mere $22.59. That figure might seem insignificant now, but context is required: bitcoin failed to exceed a dollar the year before (2010), its highest price being just $0.39. Bitcoins rise above $20 was aided by a Gawker story published on June 1, which cited the cryptos popularity on Silk Road. Perhaps it was this rapid growth that convinced our would-be clairvoyant that the era of a new wealthy elite was on the horizon.

As is often the case with old Bitcointalk threads, reading the posts can be an amusing and instructive exercise. To think that not so long ago I was paid 50 BTC for two hours of work, mused one poster, JamezQ. Another, billyjoeallen, pledged his commitment to the cause, sounding for all the world like a broken hero on a last chance power drive: I dont care about the busts. Im riding this pig wherever it takes me. If it tanks, Ill have a helluva story to tell. Im sick of half measures. Im swinging for the fences and if I strike out, so be it. I wont be some mediocre drone living a life of quiet desperation. I believe in bitcoin and Im going for broke, knowing the risks.

Of course, there were a few people predicting crazy bitcoin growth in those heady days. One of them was self-professed philosopher and investor Trace Mayer, who had been recommending his followers buy bitcoin since it was $0.25. Mayers giddy predictions were just too much for some people to stomach, motivating an outraged riposte from one triggered Reddit user. Another vocal proselytizer was Bruce Wagner, host of The Bitcoin Show, who told wired.com, I knew bitcoin wasnt a stock and wouldnt go up and down. This was something that was going to go up, up, up.

The bitcoin phenomenon had gone overground in 2011: in August, the first Bitcoin World Conference and Expo got underway in east Midtown, and The New Yorker sought to scrutinize the landscape with a satirical eye, publishing a piece that fall called The Crypto-Currency. It concludes with an amusing story about an eager bitcoin miner named Kevin Groce, who referred to mining as the new moonshining and liked to walk around in a t-shirt emblazoned with the words Bitcoin Millionaire.

Presumably at the time, readers were compelled to chuckle at the dreamer with a wanderlust glint in his eye. But Groces conviction, like the clairvoyant on Bitcointalk, was unshakeable: My fiance keeps saying shed rather I was just a regular old millionaire. But maybe I will be someday, if these rigs keep working for me.

Outlandish predictions of wealth for bitcoin holders would become the norm in the years that followed that historic Bitcointalk post. At the time of writing, John McAfee reckons bitcoin will hit $2 million per coin by the end of 2020, an increase on his $1 million prediction in 2017. Bayern LB, one of the top German banks, is a little less audacious, predicting that bitcoin will reach $90,000 come May. Whatever the case, the idea of a new wealthy elite is no longer a pipe dream for those with the perspicacity to have gotten in on the investment of the decade.

Bitcoin History is a multipart series from news.Bitcoin.com charting pivotal moments in the evolution of the worlds first cryptocurrency. Read part 21 here.

Images courtesy of Shutterstock.

Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see whats happening in the industry.

Kai's been manipulating words for a living since 2009 and bought his first bitcoin at $12. It's long gone. He's previously written whitepapers for blockchain startups and is especially interested in P2P exchanges and DNMs.

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Bitcoin History Part 22: The New Wealthy Elite - Bitcoin News

Bitcoin may revisit $7,400-$7,600 zone in the next 24 hours – AMBCrypto

The price of Bitcoin fell to $6,500 range on December 18, soon thereafter, the price saw a spontaneous rise to $7,400, a 15% pump in 10 hours. With longs hitting an all-time high on Bitfinex, this unexpected surge in BTCs price saw huge liquidations of Bitcoin longs on BitMEX.

For now, Bitcoins price moves comfortably sideways forming a pattern that is indicative of a bullish breakout in the near future. Bouncing within the pattern, BTC has dipped below the 50-hour MA [blue], which looks like a brief dip. In case of bearish pressure, a successful dip into the 50-hour MA [pink], the 100-hour MA will support the price just below the $7,000-range.

The MACD and the RSI for this chart are both receding, indicating an onslaught on bearish pressure, however, the OBV indicator is still moving sideways after hitting a peak of $185k, indicating that the bulls have equal pressure as the bears.

The breakout, at press time, could go either way, however, ascending triangles usually have a bullish bias. Assuming a bullish break, the next stop for Bitcoin would be the prior peak of $7,400, which is an area of high resistance, at least until, $7,700.

Things start to look a little different on the daily chart as the recent dip down to the $6,500 caused the 50 moving average to dip further below causing the already existing death cross chasm to widen a little more, further bolstering the bearishness in the market.

Moreover, BTC on the daily time frame is stuck between a mixture of a descending channel and a falling wedge, both of which are bullish patterns. Supporting this is the bullish OBV indicator. However, both MACD and the RSI indicate the bearishness to come.

Bitcoins final confirmation for a bearish outlook in the long term is the hash ribbons, which are indicative of the miner capitulation. Confirming this is the Bitcoin dominance, which has hit a ceiling yet again at 68.1%.

Short-term future for Bitcoin indicated a possible pump up to $7,400 in the next 24-hours, further bullish momentum could push the price to $7,700.

Long-term future for Bitcoin is still uncertain. There is a possibility that Bitcoin might undergo a short-term dump back to the $6,500 zone and push as high as $8,500 hitting the upper band of the descending channel.

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Bitcoin may revisit $7,400-$7,600 zone in the next 24 hours - AMBCrypto

How ransomware exploded in the age of Bitcoin – Decrypt

Ransomware turns 30 this month. And the malicious software, invented by the well meaning but wacko evolutionary biologist Joseph L. Popp, is thriving.

Attacks spiked by 118% during the first quarter of this year, with hackers singling out for punishment state and local governments, while continuing to target businesses, universities, and hospitals.

Ransomwares robust health is due to three symbiotic factors: our increasing reliance on digitization; ever more sophisticated crooks delivering more powerful viral strains, and the prevalence of untraceable ransomsnow almost always paid in bitcoin or other cryptocurrencies.

Hackers demands are also increasing along with the chilling efficacy of their product. According to ransomware recovery specialists Coveware, the average ransom payment increased by 184% in the first half of 2019. Largely, thats thanks to an increasing number of attacks with new ransomware strains such as RYUK on large enterprises. The average ransom demanded, internationally, is now $4,300.

Desperate for a quick solution, most victims pay up, data recovery professionals told Decrypt. In fact, according to one report, many businesses have begun hoarding cryptocurrencies, in case of an attack. Is it any wonder then that some analysts believe major ransomware attacks could be affecting the price of cryptocurrency?

Ransomware refers to the category of computer viruses that are designed to quickly across computer networks and encrypt the files on them; the idea is to hold sensitive documents hostage until the victim pays ransom to the hacker.

The vulnerability of those targetednursing homes, providers of local infrastructure, and citiesgives them little alternative. In May, an RYUK attack on the City of Riviera Beach, Florida, forced the local government to cough up $600,000 to decrypt the frozen files. In October, hackers hit the administrative website of the City of Johannesburg, in South Africa, and threatened to publish the stolen data on the Internetunless they received a $30,000 bitcoin ransom. The city refused to pay.

But as bad as the blight is, ransomware wasnt born bad.

Harvard-educated Popp, its inventor, was a polymath, and ransomware was born in 1989 out of his desire to combat AIDS, or so he claimed. In his misguided determination to amass funds to thwart the disease, he mailed more than 20,000 infected floppy disks to the delegate list of a World Health Organisation forum. When the recipients ran the disks, their computers froze, and an onscreen message instructed them to send funds to access a second disk that would restore their files.

Joseph L.Popp aged 18. Image: Eastlake North High School yearbook

Popp was arrested, but deemed mentally unfit to stand trial due to his increasingly strange behavior (which included wearing condoms on his nose and putting curlers in his beard to ward off radiation.) He died in 2006 in a car accident and didnt live to see his invention grow up, andenhanced with a more effective method of encryptionbecome one of the worlds most prevalent cybercrimes.

For many years, however, ransomware languished as a small-time enterprise. It wasnt until bitcoin began gaining traction, in 2012, that it really took off. Hackers fell in love with the decentralized digital currency, which made it difficult to trace or block payments, and it became ever easier to launder their ill-gotten gains as more cryptocurrencies hit the scene.

I don't think there is much doubt that ransomware and cryptocurrencies go hand in hand, Edward Cartwright, Professor of Economics at De Montfort University, in the city of Leicester, UK, told Decrypt. Ransomware is highly reliant on cryptocurrency and bitcoin in particular.

Bitcoin accounted for about 98% of ransomware payments made in the first quarter of 2019, according to data from Coveware. As a result, its become an inextricable part of the ransomware model.

Not only does it offer anonymity and untraceability to criminals it is also something that victims are willing to engage with, said Cartwright.

Indeed, some experts say the increasing acceptance and understanding of cryptocurrency has driven ransomware from being a rarified crime into something far more common.

I strongly believe that cryptocurrency has played a role in the ransomware epidemic, Victor Congionti cofounder and CEO of New York-based Proven Data Recovery, told Decrypt.

Of course, in some cases, victims are able to catch intruders before ransomware has been activated or fully spread. In other cases, when the particular strain is in the wild, it may be possible to reverse engineer or create a decryption utility, Congionti said. But nine times out of ten the only way to reinstate files is to obtain decryption tools by paying the ransom, he added.

Thus, a core service that Proven Data and other data recovery specialists offer is assisting victims willing to pay hackers bitcoin ransoms.

Anti-virus providers such as Emsisoft sometimes find ways to disable ransomware, and post those fixes online for free. But they can decrypt ransomware only if there are errors in the underlying software or if a security lapse allows the researchers to hack into the attackers server, otherwise, its essentially bulletproof.

The majority of cases require payment, because theyre using strong encryption. And theres no other opinion than to pay or restore from backups, said Congionti.

Ransomware has helped put bitcoin in the news and we know that the price of bitcoin goes up whenever it is in the news.

Edward Cartwright

Since 2016, there have been around 4,000 ransomware attacks a day, amounting to 1.5 million per year, according to statistics posted by the US Department of Homeland Security. Little wonder then that firms like Proven Data have formed relationships with hackers, and can often negotiate the price down. One hacker even offered data recovery firms exclusive promo codes. They were told that after paying theyd receive a code for a discount on a future ransom.

Congionti said that simply paying the ransom is sometimes not enough. Hackers often provide decryption keys that contain corrupted data, or missing files, which then needs to be checked and reversioned in-house,

Their methods are also becoming increasingly sophisticated. Some have even initiated automated schemes via smart contracts that ensure decryption when a victim sends a payment. Theres no negotiating between humans; the crime is automated on the blockchain.

It can cost three times as much to recover data than to pay the ransom. The speed of unlocking frozen accounts is often key for enterprises and organisationsfor some, such as law firms, any downtime can be life threatening.

An October 2019 survey by data security startup Datto, polled 2,400 managed service providers, finding that the average ransom attack cost $46,800 in downtime10 times the average ransom demand.

As a result, companies such as Proven Data stockpile bitcoin for contingencies. Thats part of the servicehaving that bitcoin readily available so theres no delay in getting a company up and running as soon as possible. said Congionti.

Another survey, in 2018, by security solutions provider Code24 suggested that victims were stockpiling cryptocurrency to minimize costs and disruption in the wake of a ransomware attack. The research found that almost three-quarters of Chief Information Security Officers chose to stash cryptocurrency for such an eventuality. But its notable that the study was conducted at the height of the cryptocurrency boom, when prices were marching ever upward.

The policies of insurance companies may also be compounding the issue. Driven partly by the spread of ransomware, the cyber insurance market has grown rapidly. Between 2015 and 2017, US cyber premiums doubled to an estimated $3.1 billion, according to the most recent data available.

Investigative non profit ProPublica published a report in August which found that insurance companies are helping to pay ransomsinadvertently but essentially encouraging hackers to continue these attacks for profit.

Industry giant AIG reported in July that ransomware was its second leading cause of claims in 2018 and expected to increase in 2019. While the number of attacks had actually decreased, AIG said they have also become more costly, as the targets have become more specific. Criminals increasingly extort institutions that have deeper pockets and readily pay the ransom to minimize disruption to their operations

Some analysts believe all this ransomware activity is bound to affect bitcoins price.

Ransomware has helped put bitcoin in the news and we know that the price of bitcoin goes up whenever it is in the news, said De Montfort Universitys Cartwright So, ransomware also partly drives the price of bitcoin.

Cartwright believes that the effect of a ransomware attack is significant enough to warrant inclusion in any algorithmic trading model that factors in external events, thus taking advantage of prospective price movement in the wake of an attack.

But that doesnt help local governments, businesses and law enforcement agencies, who are desperate for solutions to ransomware attacks that threaten to cripple them.

RYUK ransomware is named after the god of death in the anime Death Note. Image: Flickr

Last summer, in response to hackers demands for millions of dollars, a coalition of 227 US mayors vowed not to pay. Which might well be the best solution.

Data recovery experts, including Proven Data, report that ransomware attacks increasingly show the characteristics of organized cybercrime, and fear that many ransom payments end up in the hands of terrorist groups. Through paying a ransom, local governments are inadvertently funding them.

Government officials hope that, though better security, they can properly protect cities from these kinds of attacks. Congionti suggested that the government should make it mandatory for businesses to go through some basic security protocols, as well.

And this year, the White House and U.S. Senate approved versions of a bill that would allow the Department of Home Security to invest in resources to help states and cities deal more effectively with ransomware attacks.

Either way, a policy of not paying ransom ought to help eradicate the scourge of ransomware.

But for now, RYUK, a particularly robust ransomware that can sometimes even find and destroy backups, is on the rise. Its named after the god of death in the anime, Death Note, and is believed to have originated in North Korea.

Over the first five months of 2019, RYUK hit more than 500 schools and earned hackers more than $3 million in bitcoin. And security experts expect it, and new ransomware attacks against local governments, will only ramp up in 2020.

At the ripe adult age of 30, Popps invention is adept at outrunning most efforts to thwart it. This is not a happy birthday

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How ransomware exploded in the age of Bitcoin - Decrypt

NTT Research to Expand its Silicon Valley Footprint in 2020 – Yahoo Finance

Move to larger office and MEI Lab hires are high on agenda, after strong 2019 launch

NTT Research, Inc., a division of NTT (TYO:9432), today announced its plan to move to a facility in Sunnyvale in mid-2020 to better accommodate a growing number of researchers, including medical scientists it expects to hire for its Medical and Health Informatics (MEI) Lab. These priorities follow six months of progress in all three labs at NTT Research since its official launch in July 2019.

To recap, NTT Research has signed an Industrial Partnership between its Cryptography and Information Security (CIS) Lab and the Simons Institute for the Theory of Computing at UC Berkeley; set up joint research agreements between its Physics and Informatics (PHI) Lab and six universities (CalTech, Cornell, Michigan, MIT, Stanford and Swinburne), one US Federal Agency (NASAs Ames Research Center) and one private quantum computing software company (1QBit); and reached another joint research agreement between the MEI Lab and the Technical University of Munich (TUM). The need for a larger facility, in part, reflects this activity.

"We are aiming for a research-friendly space to hire more excellent scientists," said Kei Karasawa, NTT Researchs Vice President of Strategy. "We need both private offices as well as collaboration space to accelerate research with partners, whether professors, NTT colleagues or other stakeholders in our three research domains."

NTT Research has already hired more than 20 scientists, about half of whom are university professors and senior researchers. With the PHI and CIS Labs both on pace in terms of staffing, NTT Research plans to focus on talent acquisition for the MEI Lab in the new year. The ultimate target for the entire organization is about 50 scientists.

Based on the joint agreement between the MEI Lab and TUM, NTT Research will send two of its researchers to Munich in Q1 2020. The initial phase of that long-term research project involves screening and optimizing materials that can eventually be used for three-dimensionally transformable and implantable electrodes. The project leader in Germany is Dr. Bernhard Wolfrum, Professor of Neuroelectronics at TUM in the Department of Electrical and Computer Engineering and the Munich School of BioEngineering (MSB).

The MEI Lab is directed by Hitonobu Tomoike (M.D., Ph.D), former Director of the Sakakibara Heart Institute, Director Emeritus at the National Cerebral and Cardiovascular Center in Japan, and former Professor of Cardiology at Yamagata University. Dr. Tomoike is known for his work in precision medicine involving bio-sensors and analytics.

One goal of the MEI Lab is to explore the potential of "bio digital twin". Already applicable in the field of business transformation it is one of NTT Ltd.s Intelligent Business: 2020 technology trends bio digital twin in the medical domain is the idea of scanning an individual and creating a replica, which medically-guided supercomputing and artificial intelligence (AI) can then examine, diagnose and treat as a roadmap to caring for a human. "In a smart world, our digital twin will be second-nature technology," Dr. Tomoike said.

In addition to the move to Sunnyvale and the plan to hire more scientists for the MEI Lab, NTT Research expects to announce several more joint research agreements in early 2020. Throughout the year, NTT Research scientists will continue to submit papers and attend conferences in the United States and around the world.

About NTT Research

NTT Research opened its Palo Alto offices in July 2019 as a new Silicon Valley startup to conduct basic research and advance technologies that promote positive change for humankind. Currently, three labs are housed at NTT Research: the Physics and Information Science (PHI) Lab, the Cryptography and Information Security (CIS) Lab, and the Medical and Health Informatics (MEI) Lab. The organization aims to upgrade reality in three areas: 1) quantum information, neuro-science and photonics; 2) cryptographic and information security; and 3) medical and health informatics. NTT Research is part of NTT, a global technology and business solutions provider with an annual R&D budget of $3.6 billion.

NTT and the NTT logo are registered trademarks or trademarks of NIPPON TELEGRAPH AND TELEPHONE CORPORATION and/or its affiliates. All other referenced product names are trademarks of their respective owners. 2019 NIPPON TELEGRAPH AND TELEPHONE CORPORATION

View source version on businesswire.com: https://www.businesswire.com/news/home/20191220005076/en/

Contacts

NTT Communications:Chris ShawDirector of MarketingNTT Research +1-312-888-5412chris.shaw@ntt-research.com

Media:Barrett AdairWireside CommunicationsFor NTT Ltd. & NTT Research+1-804-591-0689badair@wireside.com

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NTT Research to Expand its Silicon Valley Footprint in 2020 - Yahoo Finance

Edward Snowdens profits from memoir must go to US government, judge rules – The Guardian

Edward Snowden is not entitled to the profits from his memoir Permanent Record, and any money made must go to the US government, a judge has ruled.

Permanent Record, in which Snowden recounts how he came to the decision to leak the top secret documents revealing government plans for mass surveillance, was published in September. Shortly afterwards, the US government filed a civil lawsuit contending that publication was in violation of the non-disclosure agreements he signed with both the CIA and the National Security Agency (NSA), and that the release of the book without pre-publication review by the agencies was in violation of his express obligations. Snowdens lawyers had argued that if the author had believed that the government would review his book in good faith, he would have submitted it for review.

Earlier this week, district judge Liam OGrady ruled that the government is entitled to Snowdens proceeds from the book.

In response, Snowden wrote on Twitter: The government may steal a dollar, but it cannot erase the idea that earned it I wrote this book for you, and I hope the governments ruthless desperation to prevent its publication only inspires you read it and then gift it to another.

Asked by one fan if it was possible to buy the book and donate the same amount to Snowden, as an easy way to stick it to the US government, Snowden recommended that readers donate money to the families who had helped shelter him in Hong Kong after the story broke in 2013, providing a link to the charity that supports them.

Snowden said the book would continue to be sold. The courts ruling is a hack intended to circumvent first amendment limits on what the government can censor, he told his followers. They cant (yet) ban the book, so they ban profit to try and prevent such books from being written in the first place.

Snowdens lawyer, Brett Max Kaufman, told the New York Times that it was far-fetched to believe that the government would have reviewed Mr Snowdens book or anything else he submitted in good faith, and for that reason, Mr Snowden preferred to risk his future royalties than to subject his experiences to improper government censorship.

We disagree with the courts opinion and will review our options, he added.

Continued here:
Edward Snowdens profits from memoir must go to US government, judge rules - The Guardian

Federal judge rules that the US government can seize all the profits from Edward Snowden’s book – Task & Purpose

Editor's Note: This article originally appeared on Business Insider.

Edward Snowden won't see any of the proceeds from his new memoir instead, the US government is entitled to seize the profits, a federal judge ruled Tuesday.

Snowden's memoir, "Permanent Record," describes his work as a contractor for the National Security Administration and his 2013 decision to leak government secrets, including the fact that the NSA was secretly collecting citizens' phone records. Snowden has lived in Moscow since 2013, where he has been granted asylum.

The U.S. sued Snowden on the day his memoir was published in September, alleging that he violated contracts with the NSA by writing about his work there without pre-clearance.

Judge Liam O'Grady made a summary judgement in favor of the US government on Tuesday, rejecting requests from Snowden's lawyers to move the case forward into the discovery stage. O'Grady ruled that Snowden violated his contracts, both with the publication of the memoir and through other public speaking engagements in which he discussed his work for the NSA.

"Snowden admits that the speeches themselves purport to discuss intelligence-related activities," O'Grady wrote in his decision, adding that Snowden "breached the CIA and NSA Secrecy agreements."

In recent years, Snowden has maintained his criticisms of US surveillance while also turning his attention to big tech companies. In November, he decried the practice of aggregating personal data, arguing that Facebook, Google, and Amazon "are engaged in abuse."

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Federal judge rules that the US government can seize all the profits from Edward Snowden's book - Task & Purpose

Federal judge rules US government is entitled to seize proceeds from Edward Snowden’s book sales and speaking fees – World Socialist Web Site

Federal judge rules US government is entitled to seize proceeds from Edward Snowdens book sales and speaking fees By Kevin Reed 20 December 2019

A federal judge ruled on Tuesday that the US government can legally seize proceeds from whistleblower Edward Snowdens memoir Permanent Record and his paid public speeches because he is in breach of his obligations for not submitting these materials to the CIA and NSA for prepublication review.

In a 14-page decision, Judge Liam OGrady of the US Eastern District of Virginia ruled against the defendants Edward Snowden and Macmillan Publishing Group, LLC and granted the US governments motion for summary judgement. The ruling stems from a lawsuit filed by the US Justice Department against Snowden and his publisher on the same day that the former NSA contractors book was released last September.

In Permanent Record, Snowden tells the story of his life, how he became an intelligence officer and contractor and how it is that he came to realize that the CIA and NSA were engaged in a global electronic surveillance operation that was in violation of the constitutionally protected democratic rights of the public.

Snowden also explains in his book how he smuggled a massive trove of top-secret intelligence documents out of a secure facility in Hawaii and then handed them over to journalists from theGuardian in Hong Kong in May 2013. The whistleblower also recounts how he ended up gaining asylum in Moscowwhere he remains to this dayafter he was charged with violation of the Espionage Act and his passport was terminated by the US government.

The DOJ lawsuit and court ruling are predicated upon a series of six Secrecy Agreements that Edward Snowden signed between November 2005 and March 2013 while he was an employee or contractor with the CIA and NSA. According the to the ruling, these documents required Snowden to obtain prepublication review of any preparation, in any form, containing any mention of intelligence data or activities, or any other information or material which is or might be based on information that is marked classified, known to be classified, or known to be in a classification determination process.

The court ruling states, The terms of the CIA Secrecy Agreements further provide that Snowden forfeits any proceeds from disclosures that breach the Agreements. These terms continue to apply to Snowden. Although the ruling grants the government claim to Snowdens publishing earnings and speaking fees, it does not specify how or when the collection will be carried out.

As Snowden explained very clearly in Permanent Record, he acknowledges having signed the intelligence Secrecy Agreements. However, he also notes that he signed another agreement called an appointment affidavitsimilar to the Oath of Office for public officialsin which he swore to defend the Constitution of the United States against all enemies, foreign and domestic, and this oath supersedes any obligations contained in the intelligence agreements.

Along with the publication of his book, the ruling makes specific reference to several public speeches Snowden madeincluding at a Technology, Entertainment, Design (TED) conference and an Internet security trade fairwhere he displayed and discussed, among other things, at least one slide which was marked classified at the Top Secret level, and other intelligence-related activities of the CIA and NSA.

Judge OGradys decision in favor of the governments lawsuit rejected all three arguments put forward by Snowdens lawyers: (1) that the government had itself breached its own agreement by stating ahead of time that it would refuse to review the book or speeches in good faith or within a reasonable time; (2) that the DOJ lawsuit was based on animus toward Snowden and his views and that the government selectively enforced its Secrecy Agreements; and (3) there is no basis within the Secrecy Agreements for the governments claim to seize proceeds from his book and speeches.

Brett Max Kaufman, an attorney for Snowden from the ACLUs Center for Democracy, said that the legal team disagrees with the courts decision and will review our options. Kaufman also said, Its farfetched to believe that the government would have reviewed Mr. Snowdens book or anything else he submitted in good faith. For that reason, Mr. Snowden preferred to risk his future royalties than to subject his experiences to improper government censorship.

Snowdens revelations in 2013 contributed enormously to the awareness of the public both within the US and internationally that the surveillance operations of the CIA and NSAwith the cooperation of the telecommunications corporationsare collecting data on every phone call, e-mail and text message of everyone in the world. Sparking the so-called Snowden Effect, the revelations have encouraged the widespread use of end-to-end encryption that hampers or prevents government surveillance of electronic communications.

Although the US government claims to have officially ended its secret surveillance programs with the passage of the USA Freedom Act of 2015 under the Obama administration, numerous media reports, leaks and data beaches have since have revealed that similar if not the exact same programs are ongoing.

The vendetta against Snowden by the US government and its military-intelligence establishment for revealing these truths to the public will never be forgotten or forgiven. Although the state has been unableup to this pointto rendition Snowden back to the US, the recent lawsuit and federal court ruling show that every effort is being made to silence and intimidate him and set an example for anyone else who might be thinking about exposing the criminal activities of the government.

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Federal judge rules US government is entitled to seize proceeds from Edward Snowden's book sales and speaking fees - World Socialist Web Site

Snowden: A Whistle-Blower Who Lived to Tell About It – lareviewofbooks

DECEMBER 15, 2019

I GENERALLY CARE relatively little for the personal lives of people of note, but something that always nagged me just slightly about Edward Snowdens 2013 revelations that the NSA was spying on pretty much everyone was how angry was his girlfriend?

After all, we all knew Snowden had a girlfriend, since it didnt take long for the media to uncover that her name was Lindsay Mills, that (much to their infinite delight) she had photos of herself in lingerie, and that her significant other had suddenly turned up in Hong Kong halfway through a business trip and started to fill the world in on US mass surveillance without running it by her first.

It must have been quite the shock.

I therefore found it uncharacteristically satisfying that Permanent Record included a chapter composed of extracts from Lindsay Millss diary. It was genuinely interesting to get an insight into how someone might cope with this very unusual situation being thrust upon them in a more candid tone than we generally get from the guarded Snowden throughout the rest of the book. These excerpts were all the more necessary, as this really is a book about the personal no further details of public significance are released in this title, which is a work primarily of analysis and reflection.

The general schema of the book is precisely what one might expect: Snowdens childhood in North Carolina and the DC Beltway; his decision to enlist in the US Army following 9/11; his roles as a defense contractor in the United States, Switzerland, and Japan; his ultimate decision to blow the whistle on mass surveillance and subsequent temporary asylum in Russia. Prior reviews have been accompanied by a few snarky remarks: The New Yorker, for example, claimed that Snowden saw the early internet as a techno-utopia where boys and men could roam free, although I cannot recall Snowden making such exclusionary gendered distinctions. Presumably it complements Malcolm Gladwells earlier piece on why Snowden is not comparable to Pentagon Papers leaker Daniel Ellsberg (since he is a hacker not a leaker) in flat contradiction to Ellsbergs own defense of Snowden published in the Washington Post:

Many people compare Edward Snowden to me unfavorably for leaving the country and seeking asylum, rather than facing trial as I did. I dont agree. The country I stayed in was a different America, a long time ago. [] Snowden believes that he has done nothing wrong. I agree wholeheartedly.

So eager has everyone been to snipe and show their moral fiber as good little citizens, that they have rarely found the time to dig into Permanent Records main themes. Rather than spilling more facts, Snowdens aim seems to have been to contextualize his previous disclosures and explain their significance. Thus, while many parts of the book are truly gripping a goodly portion of it details how Snowden removed information detailing surveillance from his workplace under a pineapple field in Hawaii and arranged to share it with documentary filmmaker Laura Poitras and journalist Glenn Greenwald in Hong Kong it is the authors underlying themes and motivations that truly deserve our attention.

It is apparent early on that Snowden pursued two main purposes in releasing Permanent Record: 1) to convince skeptics that he acted for the good of the country and to defend the US Constitution (indeed the books release was timed to coincide with Constitution Day on September 17), and 2) to educate readers about technology, or at least that part of it related to mass surveillance.

Early on, while still describing his 80s childhood and initial fascination with what he then termed Big Masheens, Snowden recalls imbibing lessons from his Coast Guard father Lonnie about the potential for technology to bring its own form of tyranny with it. According to Snowden:

To refuse to inform yourself about the basic operation and maintenance of the equipment you depended on was to passively accept that tyranny and agree to its terms: when your equipment works, youll work, but when your equipment breaks down youll break down, too. Your possessions would possess you.

Technological tyranny is a theme Snowden comes back to later in the book, reflecting on Mary Shelleys Frankenstein he was after all posted to Geneva, where part of the novels action is set.

That may sound a bit clich, until you learn that Snowdens sales partner during his time at Dell literally nicknamed the cloud system they developed for the CIA Frankie because its a real monster. That wasnt just a private office joke, but how he tried to convince the agency to greenlight the project during a sales pitch. Its these little pieces of not-exactly-earth-shattering, but still pleasantly informative detail that help the book keep ticking over and compensate for the often distant tone of its author. Snowden frequently describes his feelings, but rarely does he make the reader feel them.

Snowden also lavishes attention on explaining how he interacted with the internet as a child and teen. While many have interpreted these lengthy passages as either nave utopianism or pathetic addiction, his point is much more important than that. Im much of an age with Snowden and therefore remember many of the things he recalls: phreaking, personal homepages, chat rooms, and the days when you could just ask perfect strangers for advice and theyd give it to you. What I think I hadnt fully considered before reading this book is that at least some people in this rather narrow cohort absorbed some knowledge of modern technology. Despite being nowhere near as interested in computers as Snowden (and having a positive antipathy to Big Masheens), I learned how to build circuits and program from Basic to Java as part of my general education. That gave me the ability to learn more later in life and to form a better (if still far from expert) understanding of the nuts and bolts of computing infrastructure.

By contrast, many people today know how to use tech, but they dont understand it. Just like few people who use money understand economics. And just like an ability to grasp finance creates an enormous power differential, so does the ability to understand tech.

Snowden is at pains to redress this balance, methodically explaining everything from SD cards, to TOR, to smart appliances, to the difference between http and https, to the fact that when you delete a file from your computer, it doesnt actually get deleted. He bestows the same attention to detail on these subjects as he does describing the labyrinthine relationships of his various employers and the intelligence agencies, and this clarity helps turn the book into a relatable story about issues rather than a jargon-stuffed, acronym-filled nightmare.

Only by understanding how technology works on a basic level, so argues Snowden, can journalists ask the right questions of power and regulators regulate effectively. He strengthens this case by noting examples of times when major announcements (construction of enormous data storage facilities; a CIA presentation in which the speaker literally admonished the journalists present to think about their rights) were simply ignored.

They did not make waves, Snowden thinks, because journalists and regulators simply didnt realize their significance. There is, as he says repeatedly in the book, a lag between technology and regulation.

It is an issue that others in a position to know, like Elon Musk and Stephen Hawking, have pointed out. Everything from advances in robotic warfare to artificial intelligence to total surveillance aided by facial recognition is dismissed as alarmist until well after it is happening, when its then dismissed in true Nineteen Eighty-Four style with a shoulder shrug as inevitable.

And when that doesnt happen, tech tends to be treated as an entirely new phenomenon requiring heavy-handed, and often counterproductive, regulation.

While it is entirely true that people are bullied on social media, for example, we shouldnt forget that people were bullied in real life in the past, too. And threatened. And the victims of fraud. And defamation. And child abuse. As a result, we shouldnt lose sight of the fact that we often do already have a well-developed arsenal of remedies that can be adjusted for the internet era without the need to jettison constitutional values in the name of protection and safety.

There are ways to apprehend criminals effectively without the total take of information that intelligence agencies so lazily demand. Vigilante pedophile-hunting groups have been quite successful in luring would-be predators to justice by posing as minors on social media sites. While it is beyond question that such activities should be left to properly trained and authorized police forces not righteous citizens who can do as much harm as good it does show that the individualized pursuit of crime can still be very effective in the social media age. Indeed, in regards to some crimes, like forms of child abuse, detection may well be easier than in earlier times with many culprits unable to resist the temptation to groom potential victims online.

Rather than veering between complacency and panic, we should be thinking about the various ways in which to update our legal framework for the modern digital age something Snowdens revelations about the warrantless mass surveillance programs he uncovered have given us a particular urgency to do.

The part of the law most significant to Snowden, and which he quotes in the book, is the US Constitutions Fourth Amendment, which reads:

The right of the people to be secure in their persons, houses, papers, and effects,against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.

According to Snowden, the NSA sought to circumvent the Fourth Amendment by creating a huge database of all online activity the permanent record of the books title ideally stored in perpetuity and which they would only search when [the organizations] analysts, not its algorithms, actively queried what had already been automatically collected. Intelligence agencies also argued that because individuals have already given permission to third parties, particularly telecommunications companies, to host their data, that data no longer resided in the private sphere and thus constitutional privacy had been forfeited.

After all, the magic of what feels private sitting in front of your computer or scrolling through your phone at home can only happen by connecting to distant servers.

Those who support a living document interpretation of the Constitution may see this as an eventual opportunity to expand the scope of the terms papers, and effects for the modern era, something Snowden himself suggests; originalists might argue that only a constitutional change itself can suffice to fully address privacy rights in a digital age.

Some of the actions that Snowden describes monitoring people through their webcams in their homes via XKEYSCORE would certainly seem like unproblematic violations if committed against US citizens or persons on US soil under present wording and interpretations. Others like hunting through the vast reams of information we sign over to private companies may prove more difficult. Justice Scalia, the nations most well-known originalist prior to his death in 2016, is alleged to have refused to be drawn on whether or not computer data was an effect in the sense of the Fourth Amendment at a public lecture in 2014.

In more practical terms, the Court of Appeals for the Second Circuit decided in 2015 (ACLU v. Clapper) that bulk collection was not covered by Section 215 of the Patriot Act, stating in part, Congress cannot reasonably be said to have ratified a program of which many members of Congress and all members of the public were not aware, a decision followed shortly by the passing of the USA Freedom Act, under which telecoms companies keep records that law enforcement may then request.

However, it is somewhat doubtful whether legal remedies alone will effectively stop the political-intelligence agency complex that Snowden describes so adroitly in his book. He recalls the panic he witnessed at Fort Meade and outside the Pentagon during 9/11, and later the blame as politicians emphasized the prevention of terror attacks as the standard for measuring their own competence. Intelligence agencies felt both the horror of having to develop some way to guarantee safety and the power of being able to extort huge budgets from Congress in the interests of doing so. Once an agency has the capability to engage in mass surveillance and is under significant pressure to maintain security, its difficult to imagine it failing to indulge regardless of legalities.

Snowden mentions encryption, SecureDrop, and the European Unions General Data Protection Regulation (GDPR) as potential ways for citizens to uphold their own privacy, but Im less than convinced. Encryption is not readily available to the average person working on an average budget; few people will ever have any reason to use SecureDrop, and I doubt many of the alleged positive effects of the GDPR, which has mainly led to Europeans agreeing to any and every pop-up in order to get to their content ASAP while introducing barriers to sharing and advertisement for small businesses (precisely not the threat).

In this context, perhaps the right to be forgotten (in fairness, now enshrined in Article 17 of the GDPR, although the principle derives from an earlier 2014 court case) is more relevant. After all, Snowdens main fear is the creation of the unforgiving permanent record, where every mistake, minor trespass, and ill-considered comment remains preserved for all time and just waiting to be used against one. Indeed, he contrasts this with the early days of the web, where one could develop opinions freely and cast aside identities that one had outgrown. Snowden regards this freedom as pivotal to development and maturation, as we all tend to curate our lives over the years, forming the identity we want to have at the expense of conflicting past actions.

Despite the fact that he never made it to his intended destination Ecuador Snowden remains, much like Ellsberg, a powerful example of a person who blew the whistle on state abuses and not only lived to tell about it, but is living an apparently well-adjusted life. As he lets us know at the end of the book, Lindsay eventually joined him in Moscow, refrained from slapping him silly (as Snowden admits he deserved), and agreed to marry him. Its a fitting low-key end for a book, and a story, that is more about substance than style.

Roslyn Fuller is author of Beasts and Gods: How Democracy Changed Its Meaning and Lost Its Purpose and In Defence of Democracy and is the director of the Solonian Democracy Institute.

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Snowden: A Whistle-Blower Who Lived to Tell About It - lareviewofbooks