Cautious optimism at China bitcoin summit despite uncertain future

BEIJING: Some 200 virtual currency enthusiasts excitedly traded namecards and participated in panel discussions Saturday at China's first-ever Global Bitcoin Summit -- but several expressed shock that the event was given the green light in the first place.

Bitcoin is a form of cryptography-based e-money that can be stored either virtually or on a user's hard drive, and offers a largely anonymous payment system.

Speculators drove China's Bitcoin prices into the financial stratosphere last year, peaking at 7,588.88 yuan (now $1,224) in November, prompting the ruling Communist Party to take a series of steps that have triggered a tumble in the the virtual currency and cast doubt on its future.

"I'm a little bit worried," Eric Gu, the co-founder of the Shanghai-based Bit Angels Club, told AFP on the sidelines of the gathering at Beijing's National Convention Centre.

"This morning, when I woke up, I was concerned, 'Will I be able to get into this summit at all?'"

This week, China's five largest Bitcoin exchanges abruptly declared they were pulling out of the Global Bitcoin Summit. The announcement followed an order from China's central bank to the country's top banks to crack down on activity related to the virtual currency.

At least 11 banks have ceased providing services related to Bitcoin, according to separate announcements, including China's "Big Four" -- ICBC, Bank of China, China Construction Bank and Agricultural Bank of China.

Despite government attempts to rein in the virtual currency and an order from Chinese authorities prohibiting domestic media from covering the event, the first day of the two-day summit was allowed to take place as planned on Saturday.

Several attendees told AFP that they were cautiously optimistic about the future of Bitcoin, with some even voicing support for the Chinese government's stepped-up regulation of the currency, which is not backed by any government or central bank.

"I think the government was pretty good to the Bitcoiners in China -- at the beginning," said Gu, whose company invests in Bitcoin startups. "It was kind of too good."

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Cautious optimism at China bitcoin summit despite uncertain future

Nasrallah criticized Syrian Intelligence: WikiLeaks

BEIRUT: A WikiLeaks document published Friday quoted Hezbollah Secretary-General Sayyed Hasan Nasrallah as lashing out at Syrian Intelligence services during a meeting with former President Amine Gemayel years ago.

According to the cable, Gemayel briefed then U.S. Ambassador to Lebanon Jeffrey Feltman on his meeting with Nasrallah a day after it happened on Dec. 3, 2006.

Searching for a word and sounding several out, Gemayel eventually settled on unenthusiastic to describe Nasrallahs attitude about the Syrians. The Syrian secret police only want women and money; they are without morals, the document said.

Gemayel also told Feltman that he was surprised by Nasrallahs hatred of then Prime Minister Fouad Siniora, Future Movement leader Saad Hariri and Feltman.

The cable was translated to Arabic and published on the Lebanese Forces website Friday. Many view the move as an attempt to deal a blow to Gemayels bid for presidency.

Gemayel told Lebanons MTV television that he does not remember he had the conversation with Nasrallah. Lebanese Forces leader Samir Geagea is also a presidential hopeful.

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Nasrallah criticized Syrian Intelligence: WikiLeaks

Glenn Greenwald: The Explosive Day We Revealed Edward Snowden’s Identity to the World

Edward Snowden, as the world first saw him in June 2013. (Photograph: AFP/Getty Images)In the hours after his name became known, the entire world was searching for the NSA whistleblower, and it became vital that his whereabouts in Hong Kong remained secret. In an extract from his new book, No Place to Hide: Edward Snowden, the NSA, and the US Surveillance State, Greenwald recalls the dramatic events surrounding the moment Snowden revealed himself in June 2013.

On Thursday 6 June 2013, our fifth day in Hong Kong, I went to Edward Snowden's hotel room and he immediately said he had news that was "a bit alarming". An internet-connected security device at the home he shared with his longtime girlfriend in Hawaii had detected that two people from the NSA a human-resources person and an NSA "police officer" had come to their house searching for him.

Snowden was almost certain this meant that the NSA had identified him as the likely source of the leaks, but I was sceptical. "If they thought you did this, they'd send hordes of FBI agents with a search warrant and probably Swat teams, not a single NSA officer and a human-resources person." I figured this was just an automatic and routine inquiry, triggered when an NSA employee goes absent for a few weeks without explanation. But Snowden suggested that perhaps they were being purposely low-key to avoid drawing media attention or setting off an effort to suppress evidence.

Whatever the news meant, it underscored the need for Laura Poitras the film-maker who was collaborating with me on the story and I to quickly prepare our article and video unveiling Snowden as the source of the disclosures. We were determined that the world would first hear about Snowden, his actions and his motives, from Snowden himself, not through a demonisation campaign spread by the US government while he was in hiding or in custody and unable to speak for himself.

Our plan was to publish two more articles on the NSA files in the Guardian and then release a long piece on Snowden himself, accompanied by a videotaped interview, and a printed Q&A with him.

Poitras had spent the previous 48 hours editing the footage from my first interview with Snowden, but she said it was too detailed, lengthy, and fragmented to use. She wanted to film a new interview right away; one that was more concise and focused, and wrote a list of 20 or so specific questions for me to ask him. I added several of my own as Poitras set up her camera and directed us where to sit.

"Um, my name is Ed Snowden," the now-famous film begins. "I'm 29 years old. I work for Booz Allen Hamilton as an infrastructure analyst for NSA in Hawaii."

Snowden went on to provide crisp, stoic, rational responses to each question: Why had he decided to disclose these documents? Why was this important enough for him to sacrifice his freedom? What were the most significant revelations? Was there anything criminal or illegal shown in these documents? What did he expect would happen to him?

As he gave examples of illegal and invasive surveillance, he became animated and passionate. But only when I asked him whether he expected repercussions did he show distress, fearing that the government would target his family and girlfriend for retaliation. He would avoid contact with them to reduce the risk, he said, but he knew he could not fully protect them. "That's the one thing that keeps me up at night, what will happen to them," he said as his eyes welled up, the first and only time I saw that happen.

Greenwald talking to reporters on 10 June 2013, the day after Snowden revealed his identity in the Guardian. (Photograph: AP)The relatively lighter mood we had managed to keep up over the prior few days now turned to palpable anxiety: we were less than 24 hours away from revealing Snowden's identity, which we knew would change everything, for him most of all. The three of us had lived through a short but exceptionally intense and gratifying experience. One of us, Snowden, was soon to be removed from the group, likely to go to prison for a long time a fact that had depressingly lurked in the air from the outset, at least for me. Only Snowden had seemed unbothered by this. Now, a giddy gallows humor crept into our dealings.

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Glenn Greenwald: The Explosive Day We Revealed Edward Snowden's Identity to the World

Watch: ‘This Week’: One Year After Snowden

I'm not going to be scrambling jets to get a 29-year-old hacker. That was president Obama during Edward Snowden's global odyssey after he revealed the surveillance secrets. A year later, Snowden still sparks a raging debate. Here's ABC's Pierre Thomas. Reporter: Edward Snowden is a traitor and could be a spy, recruited by Russia to target the U.S. That's the suspicion of the man running the NSA when this happened last year. Why would you take hundreds of thousands or million plus documents. Reporter: And Snowden acknowledged the extraordinary scale of what he could have taken. I had access to the full rosters of everyone working at the NSA. The entire intelligence community. And undercover assets all around the world. Reporter: Is he a spy? I don't know the answer to that. I'm concerned that where he is now, he's at least influenced by Russia. The real question is, how far back did that go? We have learned that the Obama administration quietly accessed the phone records of millions of Americans. Reporter: Roughly a year ago, Snowden stole some of the nation's most sensitive secrets and gave them to the media. The first stunning revelation? Verizon was providing the national security agency with phone Numbers of millions of customers. Now, nations have our surveillance playbook and terrorists have changed how they operate. We're losing capabilities to track terrorists. This is a huge impact. Reporter: But Snowden defended his actions. I don't want to live in a world where everything I say, everything I do, everyone I talk to, every expression of creativity or love or friendship is recorded. Reporter: For his supporters, the revelations changed the world as we know it. They say for the better. We have the courts engaging the legality and the wisdom of these programs. The debate would not have happened if not for the actions of Edward Snowden. Reporter: We pressed on why congress, who was supposed to be overseeing his agency, did not know everything that the NSA was doing. Was this case of the NSA withholding information or congress not doing their job? It can't be both. We deal to the Intel communities. We put all the documents on the table and say, here's what we're going to do with this. I can tell you this. We provided those materials. Now, truth in lending, some of this is technical. Reporter: The debate is over the details. Was the NSA revealing too few or Snowden too many? For "This week" Pierre Thomas, ABC news, Washington. Thank you, Pierre. Let's bring in ABC news contributor Richard Clarke, form white house terror adviser and author of the new book, "Sting of the drone." Thanks for being with us, dick. I want to ask you, you heard what general Alexander said. To you think that Edward Snowden damaged national security? I know he did. President Obama pointed me to the five-person review group to look into what happened. We had complete access to NSA. I know that he hurt our counterterrorism effort and various other efforts. Give us an example of how he did that or the effect. He may or may not have intended. We don't know. He revealed ways that NSA collects information. And, the terrorists, and others, criminals and others around the world, have stopped using those methods of communications since he revealed them. So we no longer have the heads-up that an attack is coming on our embassy in fill in the blank because of what he did. Sure, he revealed a program, the telephony program, the 215 program, that was a stupid program. That we might not have known about otherwise. So I'm glad we know bit. If there's a silver lining, that's it. It's very small. We're killing the program. It was unnecessary and overly intrusive. It didn't have enough oversight by the courts. So the president is killing the program. That's what we recommended. I want to turn to your book. Which sounds pretty phenomenal. It's called "The sting of the drone." One reviewer had high praise writing that what Tom Clancy did for submarines, Richard a. Clarke does for the drones. What's the picture you're trying to paint here with the drones? I'm sure you didn't reveal any secrets. I couldn't. They reviewed it and took out the secrets. They left a lot in that is very informative. The goal was to write a thriller that you would enjoy laying on the beach. And at the same time, bring people behind the curtain to see how the drone program works now and how potentially it will work this the future. You go to where the drones are flying. You go overseas. You do all of that. I ask the question what happens if the people we're attacking with the drones start attacking us with drones? Because it's easy to have drones in the United States. In fact, they're beginning to be everywhere. Pretty soon, everybody will have one. They're flying for all sorts of purposes. Sheriffs have them. Farmers are them. Some are running into planes. Obviouslily close. It sounds like a great book. Dick Clarke, I'll look forward to some day being on the beach with it. Next, one of the world's

This transcript has been automatically generated and may not be 100% accurate.

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Watch: 'This Week': One Year After Snowden

‘We Kill People Based on Metadata’

Rick Bowmer/AP Photo The National Security Agencys $1.5 billion data storage facility in Bluffdale, Utah, June 2013

Supporters of the National Security Agency inevitably defend its sweeping collection of phone and Internet records on the ground that it is only collecting so-called metadatawho you call, when you call, how long you talk. Since this does not include the actual content of the communications, the threat to privacy is said to be negligible. That argument is profoundly misleading.

Of course knowing the content of a call can be crucial to establishing a particular threat. But metadata alone can provide an extremely detailed picture of a persons most intimate associations and interests, and its actually much easier as a technological matter to search huge amounts of metadata than to listen to millions of phone calls. As NSA General Counsel Stewart Baker has said, metadata absolutely tells you everything about somebodys life. If you have enough metadata, you dont really need content. When I quoted Baker at a recent debate at Johns Hopkins University, my opponent, General Michael Hayden, former director of the NSA and the CIA, called Bakers comment absolutely correct, and raised him one, asserting, We kill people based on metadata.

It is precisely this power to collect our metadata that has prompted one of Congresss most bipartisan initiatives in recent years. On May 7, the House Judiciary Committee voted 32-0 to adopt an amended form of the USA Freedom Act, a bill to rein in NSA spying on Americans, initially proposed by Democratic Senator Patrick Leahy and Republican Congressman James Sensenbrenner. On May 8, the House Intelligence Committee, which has until now opposed any real reform of the NSA, also unanimously approved the same bill. And the Obama administration has welcomed the development.

For some, no doubt, the very fact that this bill has attracted such broad bipartisan approval will be grounds for suspicion. After all, this is the same Congress that repeatedly reauthorized the 2001 USA Patriot Act, a law that was also proposed by Sensenbrenner and on which the bulk collection of metadata was said to resteven if many members of Congress were not aware of how the NSA was using (or abusing) it. And this is the same administration that retained the NSAs data collection program, inherited from its predecessor, as long as it was a secret, and only called for reform when the American people learned from the disclosures of NSA contractor Edward Snowden that the government was routinely collecting phone and Internet records on all of us. So, one might well ask, if Congress and the White House, Republicans and Democrats, liberals and conservatives, all now agree on reform, how meaningful can the reform be?

This is a reasonable question. This compromise bill addresses only one part of the NSAs surveillance activities, and does not do nearly enough to address the many other privacy-invasive practices that we now know the NSA has undertaken. But its nonetheless an important first step, and would introduce several crucial reforms affecting all Americans.

First, and most importantly, it would significantly limit the collection of phone metadata and other business records. Until now, the NSA and the Foreign Intelligence Surveillance Court have aggressively interpreted a USA Patriot Act provision that authorized collection of business records relevant to a counterterrorism investigation. The NSA convinced the court that because it might be useful in the future to search through anyones calling history to see if that person had been in contact with a suspected terrorist, the agency should be able to collect everyones records and store them for five years.

The NSA has said it only searched its vast database of our calling records when it had reasonable suspicion that a phone number was connected to terrorism. But it did not have to demonstrate the basis for this suspicion to a judge. Moreover, it was authorized to collect data on all callers one, two, or three steps removed from the suspect numberan authority that can quickly generate more than one million phone numbers of innocent Americans from a single suspect source number. The fact that you may have called someone (say, your aunt) who in turn called someone (say, the Pizza Hut delivery guy) who was in turn once called by a suspected terrorist says nothing about whether youve engaged in wrongdoing. But it will land you in the NSAs database of suspected terrorist contacts.

Under the USA Freedom Act, the NSA would be prohibited from collecting phone and Internet data en masse. Instead, such records would remain with the telephone and Internet companies, and the NSA would only be authorized to approach those companies on an individual, case-by-case basis, and only when it could first satisfy the Foreign Intelligence Surveillance Court that there is reasonable suspicion that a particular person, entity, or account is linked to an international terrorist or a representative of a foreign government or political organization. This is much closer to the specific kind of suspicion that the Fourth Amendment generally requires for intrusions on privacy. At that point, the court could order phone companies to produce phone calling records of all numbers that communicated with the suspect number (the first hop), as well as all numbers with which those numbers in turn communicated (the second hop).

Further restrictions are necessary. Through these authorized searches the NSA would still be able to collect large amounts of metadata on persons whose only sin was that they called or were called by someone who called or was called by a suspected terrorist or foreign agent. At a minimum, back-end limits on how the NSA searches its storehouse of phone numbers are still needed. But the bill would at least end the practice of collecting everyones calling records.

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'We Kill People Based on Metadata'