Blockchain and the Future – Explosion

The world is chasing the incredible speed of technological emergence. The super-fast technical growth is a troubleshooter of immense challenges that we once believed to be impossible. Humans thought to invent the technology that can alter the approaches of life, but mankind is witnessing the very prodigious aspect of every technology changing human life. The countless illustration of science has bound the world and is affecting the social, economic and cultural outlooks of the wellbeing existence. The scientific temperament is ideal encouraged by most of the corners of the world, but the ample accumulation of science can knock out the equity of their discovery.

When the world unfiltered into the boomerang of digital technology, the speed of the evolution doubled, and the intensity of the technological experience revived. The digital footprint of supersonic technological resurrection has initiated the genesis of Artificial Intelligence, IoT, big data and Cryptography. The Blockchain is the brainchild of cryptography. It has continued to contribute to the experiments of digitization in all-new ways. Strike this linkwww.instacoins.com to fetch in-depth information about making money through crypto trading.

This article parades the future applications of the Blockchain

Blockchain is an online system of digital trading of currencies. It is a platform for the cryptocurrencies, a digital form of money used for online transactions, trading or marketing. The cryptocurrencies are the new age money that is saved in your digital wallet and is utilized just like your traditional money.

Say Hi to the Stablecoins

The Stablecoins are the great innovational wonder of the coming generation. It will witness the invention transforming to the next level. The immense manifestation of cryptography is exhibited through channelizing the Blockchain and financial market. The Stablecoins connect every tradable means of assets into the financial market in an unpredictable way. Stablecoins are the cryptocurrencies whose face value matches the value of the real-world assets. Many technological thinkers assume that these cryptocurrencies are the future of the digital world because of the stability, efficiency and durability. These cryptocurrencies are robust in nature and uphold the legacy of metamorphosis.

The retailers enjoy more privileges through these cryptocurrencies because it flaunts ease of transactions and user-friendly features of trading. The Stablecoins are incredibly effective with the government-run markets, intercontinental and global trading. Stablecoins re in the urge to replace all the traditional cryptocurrencies.

Paramount transparency

The Blockchain is the very popular technology which is built over a strong system called distributed ledger. This ledger accounts for the complete security, privacy and control over the data generated by the cryptocurrency users. The Blockchain is a system where the user can view all the transaction of other users in order to keep the network ensuing transparent. The transparency of the technology is the hot topic of debates by the critics of the technology. But transparency is the crucial character of this system that makes it unique and robust in nature. This feature can help track the hacking spots and keep the system away from invaders. The white-collar and the black collar hacker can view the spots, but it is highly secure and difficult to break the technology. The Blockchain is designed in such a way that, the high version of mathematical problems and tremendous programs makes it complex to under and duplicate.

Blockchain a symbol of strength

Blockchain is a technology that supports not just the cryptocurrencies but starches a great extent of supports to various other digital systems. The working of the Blockchain is highlighted because of its momentum and maturity. The intensity of technology is very deep and complex. This makes the Blockchain to exhibit verities of advantages over other technologies. The Blockchain is already altering global economics with great potentials. The society is already setting up ways to embrace the efficiency of the technology. The digital transition has embossed the fields of business in an unconditional way. The surface starching hunt for dwelling into this pool of digital trade has begun and is a crusade of the millennium.

Collaboration

The collaboration is the richest facet in the blockchain technology; it can comprehend a multitude of cryptocurrencies. It is inevitable that most of the features of the Blockchain is to fulfill specific business purposes, the genuine demands of the customers or dictating enterprises. Blockchain furnishes transactional integrity and preventing tampering.

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Blockchain and the Future - Explosion

5 Myths About the National Security Agency – ClearanceJobs

Writing about the National Security Agency myths is a tough task because the rules are always changing and whole agency is shrouded in secrecythough in the case of the latter, a good deal less than it once was, thanks in part to its empowerment after 9/11, and because of revelations by Edward Snowden. Anecdotally, when I was in high school (very pre-9/11), I wanted to write a report on the NSA, and when I asked the librarian about it, he ridiculed me, saying scornfully that the NSA was a fake spy agency on TV, and that it didnt exist in real life. I think the NSA would have approved, but any organization that secret is bound to gather a few urban legends along the way. Here are five myths about the National Security Agency.

Compared to the Central Intelligence Agency or the Defense Intelligence Agency, no, the NSA doesnt have that many field agents. Most of its thirty thousand or so employees work at Ft. Meade, MD. (There are 18,000 parking spaces at its headquarters, and enough office space that four U.S. Capitols could fit inside of it.) Still, the agency does have men and women who work in the field. They belong to the NSAs Special Collection Service, a group of signals intelligence spies who work jointly with the CIA abroad to penetrate foreign communications networks.

Because the SCS is so secretive, what, precisely they do in the field is likely a moving target. When a hard drive needs to be stolen, that assignment is probably going to go to the CIAs National Clandestine Service. But things like plugging into embassies overseas, planting antennas to intercept communications, and using state-of-the-art technology in the field to acquire signals are almost certainly jobs for the SCS. Though techniques and procedures change, as of a few years ago, small teams called Special Collection Elements, made up of two-to-five members of the Special Collection Service and National Clandestine Service, rotated into foreign embassies and operated abroad under the guise of business persons.

As a matter of technology, yes, most likely. And if you encrypt your messages, it can hang onto those emails forever, or until the encryption is cracked (see below). NSA software is integrated tightly with telecommunications switches for AT&T and, most likely, other such companies. When the companies arent knowingly doing the integration, the NSA does the integration themselves, surreptitiously intercepting routers to targeted facilities and implanting surveillance devices and firmware.

But legally, the NSA needs a lot more than simple ability if they want to start reading your letters to grandma. Section 702 of the Foreign Intelligence Surveillance Act allows the government to surveil non-U.S. persons abroad. Each year, the Department of Justice and the Office of the Director of National Intelligence submit certifications to the Foreign Intelligence Surveillance Court stating the types of intelligence they would like to collect, and the way they will do it that is consistent with the law (i.e., heres how we will make sure we dont target Americans). Once the certifications are approved, the government goes to industry and compels them to assist with the surveillance. The court reviews these certifications annually.

Thats the basic legal process at work. In practice, if a non-U.S. person abroad fits the certified surveillance standard (e.g. he likes to make bombs for ISIS), and his communications are found to have foreign intelligence (e.g. hes corresponding with ISIS about where to send the bombs), his communications can be collected.

So if he happens to email yousay hes a fan of Game of Thrones, and you begin a robust correspondence on that seriess awful endingthen your email can only be searched in pursuit of foreign intelligence information, or, if the FBI gets involved looking for evidence of a crime. Only the attorney general can authorize the use of information collected under Section 702 in criminal proceedings against U.S. persons.

The upshot is that the NSA doesnt just type bomb into SpyGoogle and start vacuuming up anyones emails describing Solo: A Star Wars Story. (Which was mostly a pretty good movie, but dont get me started on The Force Awakens.) The whole thing is monitored by the court, senior analysts at the agency, and the Department of Justice.

Under Presidential Policy Directive 28 and its supplemental guidelines, information gathered from the bulk collection of non-U.S. person data must be related to foreign espionage, terrorism, threats to U.S. military forces, cyber warfare, and transnational criminal threats. In other words, if Cuervo Jones of Guadalajara is caught in the net, but isnt doing evil, his communications arent being used against him for other purposes. Moreover, information collected can only be held for five years. If, however, Cuervo has encrypted his correspondence, that can be held indefinitely. Its worth noting that the NSA is not allowed to collect trade secrets from foreign companies in order to give U.S. firms a competitive advantage.

Pretty Good Privacy is a popular encryption standard that uses hashing, compression, and public and private keys for encryption and authentication. (ClearanceJobs previously described how hashing works here.) As of 2014, leaked documents reveal that the NSA was unable to break PGP. A lot has changed in five years, and look, anything is possible, but not that much. As the PGP frequently asked questions document states for a PGP 128-bit encryption: Lets say that you had developed a special purpose chip that could try a billion keys per second. This is far beyond anything that could really be developed today. Lets also say that you could afford to throw a billion such chips at the problem at the same time. It would still require over 10,000,000,000,000 years to try all of the possible 128 bit keys. That is something like a thousand times the age of the known universe!

Well maybe. But probably not. Under Section 215 of the Foreign Intelligence Surveillance Act, the NSA is allowed to build contact chains of telecommunications metadata. Not the calls/emails/etc. themselvesbut call detail recordsinformation about the contact in question. This year, the NSA stated that it has ended the CDR program. In the old days of building those CDR chains, however, the agency used a method called hops. If I am John Terrorist and I appear on the NSAs radar, the agency can use my call detail records to start looking at the people I call (hop one), and the people they call (hop two). So if I call 10 people, those ten people are now in the NSAs metadata surveillance crosshairs. Moreover, the people those ten people call are now in the NSAs web of watchers as well. If each of those people contacted ten people, youve now got 101 people being monitored. The NSA is limited to two hops, though previously could go out as far as three hops, which meant that one person could lead to the monitoring of 1001.

So is the NSA spying on you? Even if the agency has secretly restarted the program, its still highly unlikely, though if you were an Uber driver and John Terrorist called you to give you directions, its possible that you might be in the system. And if you hired a local landscaper to mow your lawn, he or she might be in the net as well. There is no way for you to find out, and nothing you can do if you are. But as a matter of numbers, youre probably safe. Last year fewer than ten thousand queries of American communications stemmed from this program.

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5 Myths About the National Security Agency - ClearanceJobs

Democrats Make a Huge Mistake If They Just Focus Impeachment on the Ukraine Scandal – CounterPunch

Photograph Source: Shealah Craighead, The White House Public Domain

The impeachment theater on display today in the House, bracketed by Speaker Nancy Pelosis maudlin reading of Article I of the Constitution, and by House Minority Leader Kevin McCarthys ludicrous evocation of the Stalin purge trials to characterize the full House vote to establish impeachment rules and procedures, is increasingly looking like the first act of an almost certain impeachment of President Trump.

Unfortunately, if Democrats impeaching Trump on just the effort to extort an investigation of the Bidens by Ukraines government their goal, theyll get their impeachment vote, but it will end up like the Clinton impeachment as a farcical trial in the Senate, perhaps even strengthening President Trump in next years presidential election contest.

The Democrats, that is to say, are following the Republicans disastrous impeachment model, set in 1998-99 when they sought to oust President Clinton over a blow-job in the Oval Office, and ended up making him one of the most popular presidents in the history of the job.

Democrats should be looking instead to the Nixon impeachment, which obtained the desired result removing a criminal president from office without even having to go to a full vote of the House following passage of articles of impeachment by the House Judiciary Committee.

When one looks back at that impeachment effort, it almost seems incredible that Nixon was forced out of office. This was a president, remember, who in 1972 was re-elected to a second term by a landslide 60.7 percent of the popular vote to just 37.5 percent for his Democratic opponent Sen. George McGovern. Nixon won the electoral votes of 49 states, with only Massachusetts going for McGovern.

Congressional investigation into Nixons crimes began with the establishment of the so-called Watergate Committee, headed by Senator Sam Ervin. That committees public hearings into that scandal started on May 17, 1973, just six months after Nixons electoral triumph.

At the time, while Democrats had solid majorities in both houses of Congress, Nixon was still hugely popular, even as the early details of the Watergate break-in and of the cover-up of that tip-of-the-iceberg corruption in the Nixon White House and re-election campaign were starting to come out. At the time of his inauguration, Nixons popularity was at a peak of 67% in a Gallup poll.

By the time the Watergate Committee started its hearings, four months into his second term, his popularity had slumped to the mid-40s, about equal to his disapproval rating. As those hearings continued, his support continued to sink.By October 30, 1973, just short of a year after Nixon won re-election, when the House Judiciary Committee beganinvestigating possible impeachable crimes by the president, his support had slumped to 27 percent. (Contrary to assertions by todays CongressionalRepublicans, who claim that an impeachment must start with a full vote by the House,it wasnt until February 6, 1974, more than three months after its investigations began, that the Judiciary Committee went to the full House for a vote designating it as an Impeachment Committee.)

More importantly, though, even after the empowered Judiciary Committee began its work, and began issuing subpoenas for documents, tapes and testimony, it wasnt until late July that it finally voted out three articles of impeachment. Those articles were for obstruction of justice, abuse of power, and contempt of Congress, but they each included a number of examples of the presidents impeachable (though perhaps not all criminal) behavior. Along the way, the committee also investigated and considered other impeachable offenses, drawing up but rejecting two other articles of impeachment.

This is important. When talk of impeaching Nixon first began, Republicans were up in arms defending the president, and even many Democrats were nervous and unconvinced. They had, after all, been trounced in the last election, and Nixon had won re-election decisively. But the hearings, with their dramatic testimony from Nixon White House andcampaign staff, both in the Watergate and in the impeachment committees, provided a steady stream of disturbing information and criminality on the part of the president and his acolytes and appointees. It was a process that led to a steady decline in his popular (and Congressional) support until by the time those three impeachment articles were voted for by the Judiciary Committee, his approval ratings were down in the mid-20 percent range. Not surprisingly, those articles won the backing of even some Republicans on the committee.

There was no further action on Nixons impeachment because Republican leaders did some head-counting and went to the president with word that he would be impeached by the full House on those articles, with significant Republican support, and that he would lose a trial in the Senate, after which he would likely be indicted and likely convicted and sentenced to jail for his crimes.

It was an agonizing political process, though also gripping not just for those who wanted Nixon gone, but even for his backers, or former backers among the electorate.

It is precisely this process which Democrats need to copy in pursuing the eminently impeachment-deserving President Donald Trump.

It would be an historic mistake of epic proportions to go after this congenitally criminal and morally appalling president for just one issue one which many Americans who have backed him will readily excuse him for. Indeed Trumps withholding of Congressionally approved military aid to extort a foreign criminal investigation of a potential political opponent pales in comparison Nixons interference with the Vietnam peace talks or Reagans successful effort as a candidate to get Iran to delay release of the US embassy hostages until after the 1980 election, neither of which led to any impeachment hearings.

Thats not to say that Trump is not a uniquely dangerous threat to Constitutional government.

What the now fully empowered House Judiciary Committee needs to do, though, is to significantly expand its hearings to examineall the myriad impeachable crimeswhich this president is known or strongly suspected of having committed. That would include everything from lying to the American public, cheating on his taxes, obstructing justice on myriad occasions, suborning perjury from witnesses, paying bribes, profiting personally from his powers of office, violating election laws, and perhaps rape and assault as well.

The American people need all these impeachable deeds and misbehavior laid bare in all their gory detail over the next six-12 months. Trumps support, currently languishing around 40 percent, will sink as time goes on, as the shameful behavior gets continuous exposure. As the evidence of his crimes mounts, the risk of his ending up in the clink, at least after he leaves office, will grows. Meanwhile, the likelihood of his winning re-election and escaping that fate will fades. The odds will then grow that he will choose the same option that Nixon chose: resignation with a pardon.

I obviously would like to see Trump removed from the White House, either by impeachment and conviction in the Senate, or by resignation. But I also believe, as I did in the case of both George W. Bush and Barack Obama, that even if he survives impeachment, it is crucial for US democracy that impeachable crimes be called out for what they are, even if the perpetrator cannot be convicted by the Senate. (It is my contention, for example, that Obama committed serious impeachable crimes such as refusing to prosecute known the war criminals Bush and VP Dick Cheney, as well as violating the First and Fourth Amendments with his expanded use of NSA spying on Americans, as well as his illegal war on Libya. For these actions or non actions, he should have been impeached by the House.)

So far, it looks like the House, under the leadership of Speaker Nancy Pelosi, who single-handedly stymied efforts to impeach G.W. Bush (as well as crushing the sales of my 2006 bookThe Case for Impeachment!) by declaring in May 2006 that impeachment is off the table, is keeping a lid on any widening of the impeachment case against Trump.

If she persists in this wrong-headed strategy, she must take the blame for the disaster that will likely ensue, of a triumphal Trump declaring that he had been cleared by the Senate, and campaigning through next summer and fall against a Democratic Party he will accuse of being obsessed with overturning the results of the last election.

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Democrats Make a Huge Mistake If They Just Focus Impeachment on the Ukraine Scandal - CounterPunch

Governments race to beat Facebook’s cryptocurrency, libra, at its own game: Don Pittis – CBC.ca

Facebook's scheme to create its own money in the form of the libra digital coin has set off a globalrace to beat the social media colossus at its own game, and Canada maybe an importantplayer.

Since the initialmild reaction from U.S. Federal Reserve chair Jerome Powell the day after thelibraproject was announcedin June, the world's governments and central banks have realized what somesuggested at the time, that with its global reach and technological savvy, Facebook was blazing a path to dominate money.

Canada has been one of theleaders in researching how to create and managea digital coin backed by a national central bank. But the arrival of thelibra idea, with its persuasive scheme to launch what was essentially a credible new global currency, kicked off a flurry of fresh activity that could transform the way we think of money.

Not only are the world's governments gathering at bodies such as the International Monetary Fund, theBank for International Settlements and the G7 group of large industrial economies toworkon the idea, but there are signs that individual governments, notably China, are racing to be the first to create a functional, tradable government-backed digital coin.

And while the final results are difficult to predict, it is not clear that ordinary citizens, who have grown used to money in its current form,will be happy with the outcome.

"It's interesting how exciting these developments can be," enthused Bank of Canada senior deputy governor Carolyn Wilkins at last week's monetary policy news conference.

Introduced by her boss, bank governor Stephen Poloz, as "one of the world's foremost experts" on the subject,Wilkins has attended global conferences, armed with several years of groundbreaking Canadian research.

As Wilkins explained, what central banks hope to create is not a digital coin like bitcoin and its many imitators. With thatcurrency rising and falling as inexperienced investors triedto make a killing, critics, including me, pointed out years ago that the volatility of such cryptocurrenciesmade pricing goods in bitcoin impractical.

Far more interesting and functional, according to people like Wilkins, is a kind of digital money called a "stablecoin," which is how the libra is conceived. Rather than shooting up in value and plunging like bitcoins, a stablecoin is managed to maintain a relatively constant value.

"There's a whole class of crypto assets called stablecoins," said Wilkins last week. "What's exciting about it is the fact that these kinds of innovations can address what I think are important issues in global payment systems, particularly the cost of cross-border payments."

Wilkins suggested a stablecoin could be used, for example, for people from the Philippines trying to send money home from elsewhere in the world. And in developing countrieswithout a stable banking system it mightbe used domestically as a reliable unit of exchange.

That innovation is exactly what the libraproject has proposed, offering a service to millions of the world's "unbanked" so that they too can buy and sell and save up the value of their labour in a place they know won't be wiped out by inflation or governmentmismanagement.

But the more the world's central banks and the governments they represent thoughtabout the libra, theless they liked it.

To oversimplify, the two main objections to having a private company with such monetary clout were the wrenchingof monetary power out of the hands of central banksand the worry that eventually, without the backstop of a government, a private sector currency would collapse, creating global chaos.

"We know that innovations never come without risk," said Wilkins.

There are benefits to such a stablecoin system, but there are dangers: "The costs that we all know that are related to money laundering and terrorist financing, but also, with respect to safeguarding the value of that stablecoin properly, as well as potentially getting in the way of monetary sovereignty of different countries," she said.

By current thinking, that sovereignty is important. With people using something like libra, the currencies ofsmaller countries such as those in the Caribbean, or notoriously unstable currencies such as those of Rwanda or Argentina would be completely upstaged, aspeople use libra as a better alternative.

"I think Facebook hadn't thought through carefully how important control of currencies is for governments and central banks," said longtime U.S. central banker Simon Potterin an online video interviewby the Financial Times.

Globally, digitization of nationalcurrencies is already underway. Sweden is well on the road to phasing out conventional cash. Canadians have been world leaders in paying with alternatives like chip cards.China, with its powerful centrally controlled state, is ideally placed to push through a digital stablecoin that will also help it keep track of themoney flows of everyone who uses it.

Watch the International Institute of Finance discuss the future of money:

As reported by CBC Radio's The Current, access to information requests by the tech news site The Logicshow that the Bank of Canada has looked into the possibility of following Sweden and gradually eliminating those polymer bills, but such a plan would require a decision of the federal government to proceed.

Unlike China, a Canadian government might be unwilling to take such a radical step when such obvious moves asreplacing low-denomination bills by coins and eliminating the penny attracted such popular wrath.

But the difficulty for governments is that commercial stablecoins such as libra arenot the only competition. If one country creates a functioning state-backed digital stablecoin, it may be difficult to stop thecitizens of other countriesfrom using it.

For Wilkins, no doubt, working out a solution is part of what makes it all so exciting.

But whatever the final outcome, it does seem that our concept of money is changing. Just last month, Bank of Canada deputy governor Timothy Lane participated in a discussion at the International Institute of Finance titledThe Future of Money. The fact is, as cash disappears, digital stablecoins may become an essential alternative for certain purposes.

Lane pointed out that as merchants, banks andconsumers increasingly stop using bank notes for transactions, we may reach a tipping pointwhere those notes effectivelydisappear from circulation so that even people who want to use bills don't have the option.

"In the immortal words of Joni Mitchell," quipped Lane, "'You don't know what you've got till it's gone.'"

Follow Don on Twitter @don_pittis

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Governments race to beat Facebook's cryptocurrency, libra, at its own game: Don Pittis - CBC.ca

US fines founders of worthless cryptocurrency over $4.25M binary options scam – The Next Web

A US federal court has ordered defendants to pay $4.25 million in penalties as a result of operating a virtual currency scam known as ATM Coin.

Blake Harrison KantorandNathan Mullins, both from New York and corporate entities Blue Bit Banc, (UK); Blue Bit Analytics, (Turks and Caicos); andMercury Cove Inc and G. Thomas Client Services, (New York) are accused of committing fraud and misappropriating customer funds.

According to the court, Kantor, Blue Bit Analytics, and G. Thomas Client Services, took customer funds and illegally actedas Futures Commission Merchants without having registered with the Commodity Futures Trading Commission (CFTC).

The case was first submitted in April last year and charged the defendants with fraud in connection with a binary options scam.

The CFTC said defendants asked public customers to invest in binary options,promising the opportunity to earn predetermined amounts based on the price of the commodities at specific points in time.

Although customers could trade for themselves, or have a Blue Bit Ban representative do so for them, Mullins and Kantor failed to tell customers that a computer software program used by Blue Bit Banc fraudulently changed the data associated with their binary options investments.

This meant that the probability of customers earning a profit favored Blue Bit Banc, rather than investors.

Kantor and Mullins told most investors to transfer their funds to a bank account located in the island nation ofSt. Kitts and Nevis, making it harder to trace investor funds.

In addition, the defendants also converted Blue Bit Banc investments into ATM Coin, a worthless cryptocurrency that Kantor had misleadingly told victims was worth a substantial amount.

Even though prosecutors have indeed ruled against the dodgy firm, it might not mean much for victims, with the CFTC warning them that the wrongdoers may not have sufficient funds or assets to reimburse their losses.

Published November 4, 2019 11:39 UTC

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US fines founders of worthless cryptocurrency over $4.25M binary options scam - The Next Web

EOS Leading the Charge in Chinese Cryptocurrency Project Rankings – BeInCrypto

Chinas Ministry of Industry has been releasing its rankings of cryptocurrency projects for quite some time, having released a total of 14 versions of the rankings. In the most recent version, EOS was on top of the list, followed by TRON and Ethereum.

The projects are ranked in three categories;

Previously, it is likely that these lists have been ignored. However, with the recent endorsement of blockchain technology and cryptocurrencies by President Xi, these rankings might have an actual impact on the market.

Many investors are paying close attention to the news coming from China perceiving it as the future leader of the blockchain industry. This is also visible with the large funding done by local Chinese governments for blockchain-related projects.

Crypto trader Daniel Larimer (@bitemaster7) posted the full list of the project rankings in the tweet below:

EOS ranks first in the Basic-Tech category and second in Creativity, trailing only Ethereum.

Lets take a look at the technical outlook and see if it affirms its leading position.

Short Summary: The technical outlook for EOS looks bullish, especially is it breaks out above the resistance outlined below.

The EOS price has been decreasing since May 31, when it reached a high of $8.65.

It reached the $2.80 support area and created a double bottom, which is considered a bullish pattern.

Afterward, it moved above the peak between the bottoms then came back to validate it as support.

Both momentum indicators, the RSI and the MACD support further upward movement.

The double bottom was combined with a bullish divergence in both and the latter has moved into positive territory.

A breakout above the current descending resistance line would confirm this upward movement.

If not, it is possible that the price decreases to the support area and creates a triple bottom.

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

Images courtesy of Twitter, TradingView.

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EOS Leading the Charge in Chinese Cryptocurrency Project Rankings - BeInCrypto

Edward Snowden kicks off Web Summit / Uber posts Q3 earnings / PayPal gives evidence on political donations – Verdict

Good morning, heres your Monday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.

Web Summit, one of Europes largest technology conferences, gets underway with a keynote from NSA whistleblower Edward Snowden.

Also speaking on day one is Huawei president Guo Ping, who will outline his vision for the 5G era. Other speakers at the four-day event include former British Prime Minister Tony Blair, the EUs commissioner for competition Margrethe Vestager and CEO of Wikipedia Katherine Maher.

The annual event takes place at Altice Arena in Lisbon, Portugal.

Ride-hailing firm Uber Technologies posts its third-quarter earnings for 2019.

Last quarter Uber reported earnings per share of -$4.72, the largest quarterly loss in its history. This was largely due to stock-based compensation following a much-hyped but ultimately lacklustre IPO in May.

Investors have raised concerns about the loss-making firms ability to become profitable. Analysts predict losses to narrow compared with the previous quarter, with revenue rising by as much as 16% and earnings per share standing at -$0.85.

The UK governments Digital, Culture, Media and Sport sub-committee on disinformation hears evidence from PayPal executives about how online payments are changing the way people donate to political parties and campaigns.

Under political campaigning laws, any contribution of more than 500 must come from a UK-based company or individual. However, it is unclear how payment services such as PayPal can always be sure that someone isnt circumventing these rules, for instance by making multiple smaller donations without handing over their details.

The session, which takes place at 1:15 PM, forms part of a wider investigation into how disinformation and data privacy abuses affect democracy.

How the threat of hacking looms over the 2020 election

Get the Verdict morning email

Google acquires Fitbit in $2.1bn move into wearables

How smart networks are powering the hospitals of the future

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Edward Snowden kicks off Web Summit / Uber posts Q3 earnings / PayPal gives evidence on political donations - Verdict

Tiny, privately owned satellites are changing how we view the Earth – NBC News

SAN FRANCISCO In recent months, satellite photos have streamed into a former textile factory here revealing a build-up of potent Russian air defense systems in Ukraine, a serious new threat to NATO aircraft.

This is not a secret CIA facility, and the images didn't come from a billion-dollar surveillance satellite.

They were taken by private spacecraft some the size of a loaf of bread operated by Planet Labs, a Silicon Valley company that is leading a revolution in how humans glimpse Earth from space.

A short stroll from the downtown San Francisco headquarters of Yelp and LinkedIn, Planet operates the largest and least expensive fleet of satellites in history the first to take pictures of the entire landmass of the globe, once a day, and sell them to the public. The company is part of a fast-growing commercial satellite industry that is democratizing insights once available mainly to people with Top Secret government security clearances.

In May, one of Planet's satellites captured a white plume of smoke from an illegal North Korean missile test, an image that rocketed through the next day's news cycle, undercutting President Donald Trump's insistence that the North Korean regime is negotiating with the U.S. in good faith.

"I think it's so important that the pictures don't lie," said Will Marshall, one of Planet's co-founders and a former NASA spacecraft designer. "The picture is what it is. And sometimes that can be inconvenient. But it also will help us to transition away from this post-truth world, towards one more grounded in facts."

The U.S. intelligence community is a Planet customer, but so are environmental groups, farmers, Wall Street traders and journalists. Planet's fleet of imaging satellites documents climate change, natural disasters, the growth of refugee camps and the number of cars in the parking lots of a national retail chain.

When floods inundated Western Iowa in March, state officials didn't have a handle on the severity of the damage until they saw Planet's overhead imagery. They say the data helped them better coordinate the response.

As last year's Camp fire raged across California, Planet's imagery helped officials decide where to send firefighting crews.

"Earthquakes, fires, floods, typhoons, tsunamis We can help, because we have an image the day before, an image afterwards, to help responders quickly get in there," Marshall said.

Let our news meet your inbox. The news and stories that matters, delivered weekday mornings.

The first spy satellites weighed nearly a ton and sent back pictures by dropping giant film canisters into passing airplanes. These days the most sophisticated government photo satellites can be the size of a school bus, and cost billions.

Marshall and his partners built their first satellite in a garage, applying the principles of the smart phone, stuffing a sophisticated camera and telescope into a rectangular box that weighs as much as a bowling ball.

Then they began blasting dozens of them into space at a time, piggybacking on commercial launches of larger satellites.

Planet won't say how much each one costs to make, except that it's "orders of magnitude" cheaper than traditional satellites.

Commercial imaging satellites are not new; Americans have been looking at pictures from space of their houses on Google maps for years. But those pictures tend to be several years old, because there are only so many commercial satellites and they can only cover so much ground.

Planet has changed the game.

The company's satellites are lined up in orbit like a Saturn ring, taking a photo of the same spot at the same time at least once every 24 hours.

Never before have humans been able to document change on the planet's surface in quite this way. Marshall, who has given two Ted Talks on his technology, has a tag line for what he hopes this new imagery will mean for Earth: "You can't fix what you can't see."

The company's fleet of 140 satellites beams back 1.2 million images a day. That is so much data that customers are turning to artificial intelligence to make sense of it. That technology is in its infancy, which means this could be the beginning of a new age of insights about the Earth. One day, there could be enough satellites in orbit to provide total persistent overhead coverage an-on demand photo of any spot on the earth at any time, weather permitting.

Other U.S. commercial satellite firms, including BlackSky and Maxar, operate more expensive satellites with better resolution than Planet's, but they don't have as many in orbit.

Planet's small satellites stay in orbit only two or three years before burning up as they fall form the sky. So the company is constantly building more of them, with newer and better technology.

"Last year we built roughly as many satellites as the whole world put together, outside of us, here in this little lab in San Francisco," Marshall said.

The company, which has yet to go public, is now valued at $2 billion.

As with any surveillance technology, the proliferation of commercial imagery can be put to ill use, by both governments and the private sector. The U.S. government limits the resolution of commercial satellite photos to ensure American spies still have the best pictures, and so the satellites cannot be used to snap close-ups of backyard sunbathers. But commercial satellites are not without privacy risks, and industry experts are only beginning to grapple with the implications. How long before a satellite photo of a straying spouse's car, parked where it should not be, is used in a divorce case?

Robert Cardillo, who until last year led the U.S. spy agency that processes satellite imagery, says the leaders of his field are now grappling with the same sort of influx of new data as the National Security Agency did when human communication migrated to the internet. And he wants to avoid an Edward Snowden moment revelations about surveillance that alarm the public.

"We're awash in pixels," said Cardillo, the former director of the National Geospatial Intelligence Agency, or NGA, which has contracts with Planet and other private satellite companies. "Who controls the data? Where is it stored? How do you protect privacy? We have an opportunity to have this conversation now with the American people."

Biking and walking to work in downtown San Francisco, Planet's hoodie-and-jeans-wearing employees argue that their products are not designed for spying. They named their small satellites "doves" for a reason, Marshall said they believe they are a force for good.

A New Zealand livestock company is using Planet's imagery to monitor the grass in its pastures and send the cattle to the areas where the grass is higher. Arizona State University, the Hawaii Institute of Marine Biology and the University of Queensland partnered with Planet to map the world's coral reefs. Humboldt County, California has used the pictures to dramatically improve its enforcement actions against illegal marijuana farmers.

For Sarah Bidgood, who researches U.S.-Russia arms control issues at the James Martin Center for Nonproliferation Studies in Monterey, California, Planet's images have been invaluable, helping her track those new Russian weapons in Ukraine's Crimean peninsula, which Russia seized in 2014.

It's better for everyone if private analysts can study the world's geopolitical hotspots, she said.

"That's one of the things that Planet is doing that I think is so essential to the work of analysts like myself," Bidgood said. "It is placing information that gives us insights into granular changes on the ground into our hands. And that's what allows us to do good, nuanced analysis that can lead to good policy."

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Tiny, privately owned satellites are changing how we view the Earth - NBC News

Bitcoin, ETH, XRP, LTC, And XLM RallyIs It For Real? – Forbes

INDIA - 2019/10/23: In this photo illustration a popular decentralised digital currency Bitcoin logo ... [+] displayed on a smartphone. (Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images)

A rally in major cryptocurrencies that began at the end of the previous week continued last week, spreading to smaller cryptocurrencies.

As of Saturday evening, Bitcoin had gained 1.7 % over the previous seven days, ETH 2.66%, XRP 1.91%, LTC 4.91%, and XLM 12.71%, with 78 out of the top 100 cryptocurrencies advancing and 22 declining.

A strong advanced-decline ratio indicates that the rally is for real, fueled by new money flowing into the cryptocurrency markets, rather than rotating from one cryptocurrency to another.

Then theres the news that China is ready to embrace blockchain technology, and develop its own digital currency.

Thats something markets expected to hear, as Facebooks Libra has been falling apart.

Nicholas Pelecanos, Advisor toNEM Ventures, thinks that BTC has the potential to break out, as trades near the top of its range.The tremendous 40% rally we witnessed at the end of last week certainly shows the market participants are still bullish, he says.

But he thinks that Chinas renewed interest in blockchain favors protocols like Ethereum and NEM rather than Bitcoin. Personally, I believe the news that China will embrace blockchain is not as bullish for Bitcoin as the rally may have hinted to; I dont believe giving Chinese citizens sovereignty of wealth is high on the current regimes agenda, he says. The news is however bullish for protocols like Ethereum and NEM that can support the applications the Chinese government may be looking to embrace.

Ryan Uhr, CEO and co-founder of Coinplug Inc., thinks that China will always keep a firm control of cryptocurrencies that allow citizens to hide assets. Cryptocurrencies that are developed and managed independently of the Chinese government provide the means for citizens to hide assets, he says. This means that the government will most likely keep cryptocurrencies, including Bitcoin and Libra, under tight control in the domestic market.

Simply put, Bitcoin and other major cryptocurrencies wont see any meaningful impact from Chinas cryptocurrency embrace. And that will eventually deflate the hype behind the recent rally, and the return to the old sideway pattern.

But that may not be a bad thing. A sideways BTC doesnt mean opportunities will cease to present themselves, says Nicholas Pelecanos.

One area where he sees such opportunities is short LTCUSD, as its hash rate has been falling. I dont see LTC making any meaningful pull back until the hash rate begins to climb again, he says.

Meanwhile, Pelecanosis concerned about the volatility in BTCs hash rate. Speaking of hash rate, while everyone was distracted by the China embracing blockchain news, the Bitcoin hash rate slid over 30% from its high, he says. The hash rate has since rallied around 10% but further destabilization to the hash rate could cause BTC to head back down to the bottom of its range."

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Bitcoin, ETH, XRP, LTC, And XLM RallyIs It For Real? - Forbes

Inside the Icelandic Facility Where Bitcoin Is Mined – WIRED

Less than two miles from Icelands Reykjavik airport sits a nondescript metal building as monolithic and drab as a commercial poultry barn. Theres a deafening racket inside, too, but it doesnt come from clucking chickens. Instead, tens of thousands of whirring GPUs perform the complex, exhaustive calculations needed to verify cryptocurrency transactions and add them to the public record, otherwise known as the blockchain. Hundreds of thousands of fans blast cold air to keep the machines from overheating, aided by six giant ceiling turbines that spin with the collective force of 360 washing machines.

The facility, called Enigma and established by Genesis Mining in 2014, is easily the loudest environment that British photographer Lisa Barnard has ever documented. She visited two years ago while shooting her project Bitcoin. "The biggest thing I remember was just the noise and the flashing lights and wiring," Barnard says. "It was like being inside a computer."

The high-tech barn seems worlds away from the geysers, waterfalls, and lagoons that inspire 2.3 million tourists each year (not to mention a few Bjrk lyrics), but its as much a product of Icelands unique geology as any of those. The Nordic island country straddles the Mid-Atlantic Ridge, where the Eurasian and North American tectonic plates meet, molding a volcanic terrain webbed by glacial rivers and studded with gemstone-aquamarine lakes. The abundant water and underground heat is harnessed by hydroelectric dams and geothermal power stations to produce cheap, green electricity that facilitates the energy-intensive process of confirming cryptocurrency transactionscalled mining, since miners are rewarded for their efforts with newly minted and extremely volatile coins. The fact temperatures rarely top 57 degrees Fahrenheit also helps.

It wasn't long after Bitcoin's creation on January 3, 2009 that cryptocurrency companies began moving to Iceland. In 2016, large data centers accounted for nearly 1 percent of its GDP, with cryptocurrency mining operations making up 90 percent of those. They now use more electricity than all of Icelands homes combined, with electric bills at Enigma running more than $1 million per month. But however green the energy, miners still cant escape a dilemma as old as picks and shovels: how to extract resources without marring the landscape. According to local experts cited by The Wall Street Journal, keeping up with demand for electricity requires building more dams and power stations that could alter Icelands unique, sensitive environment.

That tension intrigues Barnard. She became interested in cryptocurrencies while working on her new book The Canary and the Hammer, a visual exploration of gold. It piqued her interest in digital gold that isnt controlled by a central bank, leading her from Bitcoin meet-ups in Japan, the first country to officially recognize cryptocurrencies, to data centers in Iceland, where theyre mined on an industrial scale. I was interested in this idea of it being an equitable currency, Barnard says, and yet it has the potential to be very destructive as far as the land is concerned.

So, after photographing Enigma, she also ventured out to Svartsengi geothermal power station (which supplies electricity to crypto-miners and water to the Insta-famous Blue Lagoon) and other sites of thermal activity. Standing before ethereal, bubbling pools, she felt an almost palpable connection to the inner workings of the earth, both terrifying and beautiful at the same time, she says. The sulphur-smelling waters steamed and hissed, many decibels below the crypto-digital roar to which theyre weirdlyand maybe inextricablylinked.

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Inside the Icelandic Facility Where Bitcoin Is Mined - WIRED