Five critical cloud security challenges and how to overcome them – Help Net Security

Todays organizations desire the accessibility and flexibility of the cloud, yet these benefits ultimately mean little if youre not operating securely. One misconfigured server and your company may be looking at financial or reputational damage that takes years to overcome.

Fortunately, theres no reason why cloud computing cant be done securely. You need to recognize the most critical cloud security challenges and develop a strategy for minimizing these risks. By doing so, you can get ahead of problems before they start, and help ensure that your security posture is strong enough to keep your core assets safe in any environment.

With that in mind, lets dive into the five most pressing cloud security challenges faced by modern organizations.

According to Gartner, the shift to cloud computing will generate roughly $1.3 trillion in IT spending by 2022. The vast majority of enterprise workloads are now run on public, private or hybrid cloud environments.

Yet if organizations heedlessly race to migrate without making security a primary consideration, critical assets can be left unprotected and exposed to potential compromise. To ensure that migration does not create unnecessary risks, its important to:

Effectively managing and defining the roles, privileges and responsibilities of various network users is a critical objective for maintaining robust security. This means giving the right users the right access to the right assets in the appropriate context.

As workers come and go and roles change, this mandate can be quite a challenge, especially in the context of the cloud, where data can be accessed from anywhere. Fortunately, technology has improved our ability to track activities, adjust roles and enforce policies in a way that minimizes risk.

Todays organizations have no shortage of end-to-end solutions for identity governance and management. Yet its important to understand that these tools alone are not the answer. No governance or management product can provide perfect protection as organizations are eternally at the mercy of human error. To help support smart identity and access management, its critical to have a layered and active approach to managing and mitigating security vulnerabilities that will inevitably arise.

Taking steps like practicing the principle of least privilege by permitting only the minimal amount of access necessary to perform tasks will greatly enhance your security posture.

The explosive growth of cloud computing has highlighted new and deeper relationships between businesses and vendors, as organizations seek to maximize efficiencies through outsourcing and vendors assume more important roles in business operations. Effectively managing vendor relations within the context of the cloud is a core challenge for businesses moving forward.

Why? Because integrating third-party vendors often substantially raises cybersecurity risk. A Ponemon institute study in 2018 noted that nearly 60% of companies surveyed had encountered a breach due to a third-party. APT groups have adopted a strategy of targeting large enterprises via such smaller partners, where security is often weaker. Adversaries know youre only as strong as your weakest link and take the least path of resistance to compromise assets. Due to this, it is incumbent upon todays organizations to vigorously and securely manage third-party vendor relations in the cloud. This means developing appropriate guidance for SaaS operations (including sourcing and procurement solutions) and undertaking periodic vendor security evaluations.

APIs are the key to successful cloud integration and interoperability. Yet insecure APIs are also one of the most significant threats to cloud security. Adversaries can exploit an open line of communication and steal valuable private data by compromising APIs. How often does this really occur? Consider this: By 2022, Gartner predicts insecure APIs will be the vector most commonly used to target enterprise application data.

With APIs growing ever more critical, attackers will continue to use tactics such as exploiting inadequate authentications or planting vulnerabilities within open source code, creating the possibility of devastating supply chain attacks. To minimize the odds of this occurring, developers should design APIs with proper authentication and access control in mind and seek to maintain as much visibility as possible into the enterprise security environment. This will allow for the quick identification and remediation of such API risks.

Weve mentioned visibility on multiple occasions in this article and for good reason. It is one of the keys to operating securely in the cloud. The ability to tell friend from foe (or authorized user from unauthorized user) is a prerequisite for protecting the cloud. Unfortunately, thats a challenging task as cloud environments grow larger, busier and more complex.

Controlling shadow IT and maintaining better user visibility via behavior analytics and other tools should be a top priority for organizations. Given the lack of visibility across many contexts within cloud environments, its a smart play to develop a security posture that is dedicated to continuous improvement and supported by continuous testing and monitoring.

Cloud security is achievable as long as you understand, anticipate and address the most significant challenges posed by migration and operation. By following the ideas outlined above, your organization will be in a much stronger position to prevent and defeat even the most determined adversaries.

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Five critical cloud security challenges and how to overcome them - Help Net Security

On this website you can easily give a fairly professional 3D effect to any image – Explica

If you have ever seen those effects in some images or screenshots shown in other angles and perspectives and you dont know how to do it, or it seems very difficult to do it with an editing program like Photoshop or GIMP, this website is for you.

Or, if you just want to make an image look more interesting or professional and transform it without much effort, youre going to want to take a look at Limus, a free and extremely easy-to-use tool for just that.

Limus is a tool to transform images, it works like a web application and you can use it to rotate any image on three different axes: X and Z. You can also adjust the perspective, position, and scale.

The options are all in the same toolbar, which also gives you options such as add a shadow and adjust its vertical axis or its level of blur. Limus also lets you round the edges of the image, and replace the background color with any hexadecimal color.

If you want you can leave the background transparent or upload another image to use as a background. If you have problems adjusting your image in any of the axes with the sliders in the toolbox, you can press the SHIFT key and the app will go into free transform mode, that is, to rotate it simply by dragging with the mouse pointer.

Limus is an open source project and its source code can be found on GitHub under an MIT license. There you will find instructions to clone the app and host it yourself if you wish.

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On this website you can easily give a fairly professional 3D effect to any image - Explica

Cisco : Tools to Help You Deliver A Machine Learning Platform And Address Skill Gaps – Marketscreener.com

As we learned from the previous two blog posts in this series, Public Clouds have set the pace and standards for satisfying Data Scientist's technology needs, but on-premise offerings are starting to be viable using innovations such as Kubernetes and Kubeflow.

but it still can be hard!

With expectations set very high in Public Cloud, ML platforms delivered on-premise by IT teams have been made even more difficult because the automation flows and their associated tooling to power these, have been well-hidden behind public cloud customer consoles and therefore, the process to replicate these is not very obvious.

Even though abstraction technologies, such as Kubernetes, reflect and relate well to the underlying infrastructure, the education needed to bridge current Data Center skills over to cloud native tools takes enthusiasm and persistence in the face of potential frustration as these technology 'stacks' are learned and mastered.

Considering this, the Cisco community has developed an open source tool named 'MLAnywhere' to assist with the skills needed for cloud native ML platforms. MLAnywhere provides an actual, usable deployed Kubeflow workflow (pipeline) with sample ML applications, all of this on top of Kubernetes via a clean and intuitive interface. As well as addressing the educational aspects for IT teams, it significantly speeds up and automates the deployment of a Kubeflow environment including many of the unseen essential aspects.

How MLAnywhere works

MLAnywhere is a simple Microservice, built using container technologies, and designed to be easily installed, maintained and evolved. The fundamental goal of this open-source project is to help IT teams understand what it takes to configure these environments whilst providing the Data Scientist a usable platform, including real world examples of ML code built into the tool via Jupyter Notebook samples.

The installation process is very straight forward - simply download the project files from the Cisco DevNet repository, follow the instructions to build a container using a Dockerfile, and launch the resulting container on an existing Kubernetes cluster.

MLAnywhere layers on top of technologies such as the Cisco Container Platform, a Kubernetes cluster management solution. Cisco Container Platform greatly simplifies both day-1 deployment, and day-2 operations of Kubernetes and does so in a secure, production-grade and fully- supported fashion.

Importantly for ML workloads, Cisco Container Platform also eases the burden of having to align GPU drivers and software as MLAnywhere uses the Cisco Container Platform provided APIs to seamlessly consume the underlying GPU resources upon the deployment of the supporting Kubernetes clusters, and exposes these into the Kubeflow tools.

So what's in it for IT Operations teams?

For IT teams, clear descriptive explanatory steps are presented within the ML interface for deploying the relevant elements, including the all-important logging information to help educate the user on what is going on under the surface, and what it takes within the underlying Kubernetes platform to prepare, deploy and run the Kubeflow tooling.

Not forgetting the Data Scientists

On the Data Scientist's side, many will have experience using traditional methodologies in the ML space and therefore will see the benefits that container technology can bring in areas such as dependencies, environment variables management and GPU driver deployments. But importantly, they get to do this whilst leveraging the scale and speed that Kubernetes brings, from the comfort of the abstraction away from the infrastructure, and still uses well known frameworks such as Tensorflow and Pytorch.

As the ML engineers and data scientists are generally more concerned about getting access to the actual dashboards and tools than the underlying plumbing, appropriate links are provided within MLAnywhere to the Kubeflow interface as the environments are dynamically built out on-demand.

What does the future hold?

Hopefully you can see that MLAnywhere can bring quick and instant value to various teams involved in the ML process with a focus on the educational aspects helping Data Scientists and IT Operation teams make the transition over to cloud native methodologies.

Moving forward, we will continue to add further nuggets of value into MLA but an important aspect to point out is we intend to merge this project with another Cisco initiative around Kubeflow called 'The Cisco Kubeflow Starter Pack' as these two complementary approaches when combined, will bring their best aspects together into a compelling open source project.

Finally, we will leave you with a practical note, a well used phrase in the ML world is 'it takes many months to deliver an ML platform into the hands of data scientists', MLAnywhere can do this in less than 30 minutes!!

For more information and to download: The MLAnywhere code repository and installation instructions

Catchup with part 1 and part 2 in this series.

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How to work faster in your web browser – Fast Company

Sometimes its all too easy to get lost in your web browser while trying to get work done.

Once youve buried yourself under dozens of browser tabs, youre constantly having to pick through them all to find your way back to Gmail or Google Docs. Or instead of trying to track down the sites youve already got open, you just open them again in a new tab, creating even more clutter.

As they say in infomercials, theres a better way. By making some changes to your web browser, you can more easily access the websites you use most and cut down on tab overload. Here are a few things to try:

Instead of loading your favorite websites as browser tabs, consider converting them into apps that mimic the behavior of desktop programs.

These web apps will launch in their own separate window, without the address bar, bookmarks, and other menu clutter youd normally get in your browser. Best of all, you can launch them straight from the Windows taskbar or Start menu, or from the dock in macOS, so you dont have to go fishing for them in a sea of browser tabs. I use this trick for Gmail, Google Calendar, Google Keep, Chrome Remote Desktop, Airtable, and the free Photoshop alternative Pixlr E, and it has fundamentally changed my workflow.

Heres how to turn a website into an app in Chrome:

Creating web apps in Microsoft Edge is slightly easier:

If youre using Windows, the new app will appear in the Start menu under Recently Added. You can then drag it to your pinned apps section in the Start menu, or add it to the Windows taskbar by right-clicking the app while its open.

If youre on a Mac, the new app will automatically show up in your dock. Drag it anywhere on the dock to keep it there permanently.

Sidekick is an alternative web browser that makes web apps easier to access. It offers a persistent left-hand sidebarhence the namewhere you can pin icons for Gmail, Slack, Google Docs, Trello, Mailchimp, Notion, and dozens of other popular web services. Essentially, its an app dock for your browser, letting you load your favorite sites without having to open them as browser tabs. (The browser itself is based on Chromium, the same open-source code that Google uses for Chrome, so it also supports all the same browser extensions.)

After installing Sidekick, you can add new apps by hitting the + icon in the sidebar. To make the sidebar smaller to fit more apps on the screen, click the gear icon, then adjust the sidebar size slider.

Sidekick also uses your browser history to provide shortcuts within each web app. Right-clicking the Google Docs icon, for instance, brings up a list of recent documents to launch. Right-clicking on Trello lets you jump into recent cards or boards. And for those websites you do open as browser tabs, Sidekick will remember them, so you can close the browser without losing your progress.

Sidekick is free to use, but an $8-per-month Pro subscription is required if you want to have multiple workspaces with their own app docks, such as one for personal apps and another for work.

If switching to a new browser seems too extreme, you can still use a browser extension to keep your tabs under control. Workona is an extension for Chrome, Firefox, and Microsoft Edge that organizes tabs into workspaces that you can view and search through from a single menu. Its an alternative to splitting up your tabs into separate windows for different tasks.

Installing the extension adds a permanent Workona tab to the left side of your browser. From there you can view all of your workspaces, move tabs between them, and add separate bookmarks for each workspace. You handle all of this by dragging and dropping your tabs around.

Workonas menu also has an app dock, where you can add popular web apps. Once an app is in the dock, you can click on it to bring up shortcuts, such as a list of recent documents in Google Drive or links to your boards in Trello. You can also access these shortcuts through Workonas search bar.

Best of all, Workona is great at remembering what youre doing. If you pin a tab in your web browser, it will make that tab available in all of its workspaces. That means you can pin sites such as Gmail or Slack and never lose track of them. The extension will also save any tabs youve opened after closing the browser and will sync them across devices so you can pick up where you left off from anywhere.

Workona is free to use, but youre limited to 10 workspaces without a $6-per-month Pro subscription.

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Ethereum Soars 10% Overnight Implications For Bitcoin – Forbes

POLAND - 2020/06/15: In this photo illustration an Ethereum logo seen displayed on a smartphone. ... [+] (Photo Illustration by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images)

Since last Friday, Ethereum has increased by over 20% further padding its 2020 gains. Ethereum has been one of the brightest stars in the current bull market for digital assets, gaining 261% in 2020 compared to 65% for bitcoin.

https://www.coinbase.com/price/ethereum

The principal driver for $ETHs growth has been the enormous boom in decentralized finance (DeFi) given the majority of the DeFi networks are built atop the Ethereum platform. For example, the alphabet soup of hot tokens $YFI, $YAM, and $SUSHI (to name a few), have experienced meteoric price increases, 107,761%, 446%, and 1,358%, respectively.

Most importantly, the DeFi boom has accrued value to Ethereum via greater developer interest, i.e. building the the next unicorn DeFi token on Ethereum rather than competitors. This dynamic can be visualized by the Total value locked-up (TVL) on DeFi, which has dramatically increased from less than $1 billion to over $9 billion in 2020.

https://defipulse.com/

Josh Olszewicz, Market Analyst at Brave New Coin, notes that the aforementioned dynamic is identical to the initial coin offering (ICO) boom in terms of organic demand driving $ETH price. For example, in 2017 if you wanted to launch an ICO, you needed to buy $ETH to do so, similarly with DeFi token launches today. Thus, until the speculative frenzy for DeFi cools, $ETH price could conceivable rise back to 2017 levels.

Additionally, former Quant Trader, Qiao Wang, notes since DeFi tokens are largely illiquid and traded on decentralized exchanges (DEXs) with $ETH as a trading pair when speculators take profits, they sell DeFi token $X and buy $ETH, thus boosting price.

The question for bitcoin is whether DeFi can find a legitimate use case for synthetic $BTC ($WBTC), i.e. bitcoin wrapped in a way to be compatible on the Ethereum blockchain?

https://twitter.com/QWQiao/status/1300410024632766469

If so, then bitcoin could begin to benefit from the same feedback loop as Ethereum, thus an additional boost to price beyond its current store of value utilization.

It is too early to state, but TVL trends of $WBTC in 2020 suggest that this process is already underway, thus a potential boon for bitcoin price could be in the making as long as the music continues to play for DeFi.

Glassnode.com

Disclosure: Author owns bitcoin and ethereum.

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Ethereum Soars 10% Overnight Implications For Bitcoin - Forbes

The History of Bitcoin – WTOP

From humble beginnings in 2008 to its 2017 price peak, Bitcoin has taken investors and the world for quite the

From humble beginnings in 2008 to its 2017 price peak, Bitcoin has taken investors and the world for quite the ride. In just over a decade, its spiked and crashed and rallied and fallen again.

Bitcoin is following principles of economics and principles of market efficiency, says Hemang Subramanian, assistant professor in Florida International Universitys business information systems department. It is an asset that is not controlled by a central entity, that is secure, international and fungible, liquid and is available in a limited supply for trade. This demand at near-constant supply has caused prices to go up disproportionately in a short period of time, attracting more investors.

Some would say Bitcoins raucous journey has paved the way for the thousands of other cryptocurrencies used for financial and investing activities today, he says. Heres how Bitcoin did it.

When Did Bitcoin Start?

The idea behind Bitcoin was introduced to the world on Oct. 31, 2008, at the depth of the financial crisis by a pseudonymous person called Satoshi Nakamoto, says Chetan Chawla, assistant professor of entrepreneurship at North Central College in Naperville, Illinois, who studies cryptocurrencies and blockchain.

Nakamoto posted a message on a cryptography mailing list titled, Bitcoin P2P e-cash paper. In it was a link to a white paper called Bitcoin: A Peer-to-Peer Electronic Cash System. Both of these are still available online.

In these papers, Nakamoto laid out the concept for Bitcoin as a decentralized, digital currency. Being decentralized means there is no single administrator but rather a public ledger of transactions that anyone can store on their computer, says Kris Marszalek, CEO of Crypto.com. Coins can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries.

[Read: What Is Return on Equity: The Ultimate Guide to ROE.]

On Jan. 3, 2009, the blockchain was launched when the first block, called the genesis block, was mined. The first test transaction took place about one week later.

For the first few months of its existence, it was obtainable only by miners validating the Bitcoin blockchain, Chawla says.

At this point, Bitcoin had no real monetary value, says Mark Grabowski, an associate professor at Adelphi University who teaches a course on Bitcoin and author of Cryptocurrencies: A Primer on Digital Money. Miners computers that solve complex math problems to uncover new bitcoins and verify previous bitcoin transactions are legitimate and accurate would trade Bitcoin back and forth just for fun.

It would take more than a year for the first economic transaction to take place, when a Florida man negotiated to have two Papa Johns pizzas, valued at $25, delivered for 10,000 bitcoins on May 22, 2010. That transaction essentially established the initial real-world price or value of bitcoin at 4 bitcoins per penny, Grabowski says.

Fast forward to today, and that same transaction would have a value of $114 million, says Peter C. Earle, economist and research fellow at the American Institute for Economic Research. In honor of this pivotal moment, cryptocurrency fans and supporters call May 22 Pizza Day.

In the early days, the first transactions with Bitcoin were negotiated on internet forums with people bartering for goods and services in exchange for bitcoin, says Garrette Furo, partner at Wilshire Phoenix, a New York-based investment management firm. The value of bitcoin was originally arbitrary.

Then, in 2011, miners and coders started to build other networks like Ethereum and Litecoin and began to improve the code behind Bitcoins blockchain, adapting it for different uses, Furo says.

This wider base of applications brought in more individuals, which contributed partly to the increase in Bitcoins perceived value, he says. There was also an increase in the use of Bitcoin as currency once select businesses began to accept the asset alongside traditional currency.

Once Bitcoin became available on exchanges in 2010, it became easier to buy, sell, trade and store. Thanks to these exchanges, bitcoin could also be priced against the U.S. dollar, Chawla says. From a low of a few cents in 2010 to the all-time high of late 2017 when each bitcoin touched U.S. $20,000, Bitcoin has come a long way and continues to dominate the cryptocurrency markets.

Bitcoin Price History

Bitcoins history is largely one of astronomical growth punctuated by a few severe price retrenchments, Earle says.

In February 2011, bitcoins price crossed the $1 threshold. For its first few years as it grew, its price was under $2, Marszalek says. In June 2011, it hit its first bubble, rocketing to around $31 before sinking back down to the single-digit range.

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Almost two years later, in April 2013, Bitcoin reached $200. By the end of November that same year, it was worth more than $1,000. It then rose tenfold to $10,000 in November 2017.

Bitcoins highest price was about $19,650 in mid-December 2017, Earle says, noting there were different peak prices on different exchanges. It then fell tremendously over the next few years.

The 2017-2018 bubble was primarily led by a boom in initial coin offerings, or ICOs, Furo says. Some market veterans compare the Bitcoin bubble to the internet boom at the end of the 20th century.

Everyone from your next-door neighbor to the wealthiest hedge fund managers was talking about Bitcoin or some altcoin, new network or protocol, Furo says. The ICO craze brought in billions of dollars into the crypto space. Investors saw the value of coins fall dramatically in the early months of 2018 as prices crashed amid uncertainty, fraud and a lack of belief among other psychological and technical factors.

After the fall of bitcoins value, what you could call a more mature market arose around the cryptocurrency. Fidelity entered the custodian space (and) national banks were given permission to custody digital assets, Furo says. Today, Square offers Bitcoin trading in all 50 states.

Because of these developments, the market for Bitcoin has become relatively mature, he says. Smart and efficient exchanges exist, and core institutional-grade players are adopting the necessary measures to create a sustainable and viable market for the trading and investing of Bitcoin and other cryptocurrencies.

The 2020 global pandemic has also been a boon for the digital currency, reflected by its current price of more than $10,000, Marszalek says.

Bitcoin Today

Today, one bitcoin is worth a little less than $12,000. Its a far cry better than its post-peak lowest price of just more than $3,000.

To this day, no one knows who Satoshi Nakamoto is or was, Earle says. Its a subject not only for debate, but speculation and perhaps inevitably conspiracy theories.

These theories abound, from Bitcoin actually being a skunk work, or advanced and often secret project of Google or an intelligence agency like the National Security Agency, Earle says. Others believe that its a trapdoor project which, when it gets big enough, a malevolent party which has been lying patiently in wait for over a decade will suddenly seize control of.

[SEE: What Is a SPAC? 6 Best SPACs to Buy.]

To Earle, more important than Bitcoins price history is its testimony to two long-disputed views: First, that money is a good like any other, (and) second, that money can come about as a result of a market process.

While BItcoin is still growing into its role as a store of value and unit of account, cryptocurrencies, and especially Bitcoin, have largely buried the idea that money somehow isnt money unless it is accepted as payment for taxes, Earle says. (The IRS does not accept bitcoins.)

Bitcoin Tomorrow

So what is in store for Bitcoins future? No one can tell for certain, but Furo sees it being a bright and exciting place. Investment vehicles that are innovative, cost-effective and transparent are nearing reality and will help make investing in cryptocurrency even more accessible, he says. This access would rival that of traditional markets.

Just bear in mind that no investments particularly frontier investments are without risk. If there is one lesson to be taken from Bitcoins history, it is that what goes up can also come down, and it can come down fast.

More from U.S. News

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The History of Bitcoin originally appeared on usnews.com

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The History of Bitcoin - WTOP

Warren Buffett Shifts Funds From US Amid Inflation Fears, Bitcoin’s New All-Time High Expected | News – Bitcoin News

Warren Buffett has made another major investment shift, one that reduces Berkshire Hathaways dependence on the U.S. economy. This news followed the Federal Reserves policy announcement to push up inflation, which is seen as bullish for bitcoin, with some predicting that the price of the cryptocurrency will soon reach an all-time high.

Warren Buffetts Berkshire Hathaway has invested over $6 billion in Japans five biggest trading houses. The company has taken a 5% stake in Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co. Ltd., and Sumitomo Corp. The stakes could rise to 9.9%, the company said on Sunday, Buffetts 90th birthday. Reuters described:

The investment will help reduce Berkshires dependence on the U.S. economy, which in the last quarter contracted the most in at least 73 years as the Covid-19 pandemic took hold.

Buffetts choice in Japan, however, surprised market players as trading houses have long been far from investor favorites, the publication added. Tokyo-based Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities, pointed out that it is un-Buffett-like to buy into all five companies rather than selecting a few.

Most of Berkshires operating businesses are American. The company owns more than 90 businesses outright and invests in dozens of companies, such as American Express Co., Bank of America Corp., and Coca-Cola Co. Moreover, Berkshire has a roughly $125 billion stake in Apple Inc. (APPL), accounting for about 43% of its total portfolio.

Berkshire already made a surprise investment move about two weeks ago when it invested in Barrick Gold. Crypto exchange Gemini founder Cameron Winklevoss tweeted on Sunday:

When Buffett buys stake in gold mining company you know he knows somethings up inflation is coming. Hell find Bitcoin in a decade. It took him until 2016 to find APPL, but now its his biggest investment ever.

Many people joined into the discussion, pointing out that Buffett is already 90 so it will be difficult for him to find Bitcoin during his lifetime. Overall, the opinions are split, with some believing that the Berkshire CEO will eventually buy bitcoin while others say he will never do so in his lifetime.

Not sure Buffett is ready to wade into Bitcoin just yet, global macro investor and Gold Bullion International co-founder Dan Tapiero tweeted last week. Perhaps his younger deputies might be. BRK [Berkshire Hathaway] is a public company so difficult for them to take too many non-equity outlier positions. In 2-3 years, I think its possible they could allocate.

The Oracle of Omaha has repeatedly said that he will never own bitcoin, calling the cryptocurrency rat poison squared, as he does not see any value in it. He was gifted a bitcoin in February by Tron founder Justin Sun during a dinner which Sun won for $4.57 million at a charity auction. However, Buffett later said that all cryptocurrencies gifted to him were immediately regifted to his charity.

Some people are more optimistic about the prospect of Buffett investing in bitcoin. Popular television personality and bitcoin proponent Max Keiser, for example, believes that Buffett will panic-buy bitcoin at $50K just like gold bug Peter Schiff and veteran investor Jim Rogers will do. Commenting on Buffetts new investments in non-U.S. companies, he tweeted Monday:

Buffetts move into Japan, along with his gold investment, confirms hes getting out of USD bigly Bitcoin gold silver will all make new ATH [all-time high] in the near term.

Many people on social media believe Buffett anticipated that inflation was coming to make the investment decisions he did. The Federal Reserve announced a major policy change last week to push up inflation. Several experts expect bitcoin to benefit from this policy shift as well as from the weakness of the U.S. dollar and the political uncertainty surrounding the U.S. presidential election.

Devere Group CEO Nigel Green believes that bitcoin will break out this year, as news.Bitcoin.com reported. Responding to the Feds inflation policy shift, the founders of Gemini Exchange explained how bitcoin will ultimately [become] the only long-term protection against inflation, potentially driving the price of the cryptocurrency above $500K.

Meanwhile, to hedge against inflation, several companies have already begun reducing their cash holdings and moving their reserves into bitcoin. Among them is the Nasdaq-listed Microstrategy, which recently moved $250 million into bitcoin, and Canadian restaurant chain Tahinis, which moved all of its cash reserves into the cryptocurrency.

What do you think of Buffetts strategy? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, CNN

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Warren Buffett Shifts Funds From US Amid Inflation Fears, Bitcoin's New All-Time High Expected | News - Bitcoin News

Elon Musk Confirms Serious Russian Bitcoin Ransomware Attack On Tesla, Foiled By The FBI – Forbes

Elon Musk, the chief executive of Tesla TSLA , has confirmed the electric car-maker was targeted by a ransomware hacker demanding $1 million in bitcoin.

The attack, foiled by the FBI, was planned by a Russian national, court documents unsealed last week have shown.

Elon Musk, the chief executive of Tesla, said the bitcoin ransomware attack was "serious."

Elon Musk confirmed in a tweet that an employee at a Tesla factory in Nevada was offered $1 million and an upfront payment of 1 bitcoin to to install ransomware software on Tesla's computer network.

However, the employee didnt carry out the plan and instead alerted other Tesla staff who contacted the FBI. The FBI arrested Egor Igorevich Kriuchkov, a 27-year-old Russian man, on August 22 in Los Angeles. Kriuchkov was charged last week and faces up to five years in prison for his role in the scheme if found guilty.

"This was a serious attack," Musk, who was among many high-profile Twitter users to be targeted in a bitcoin-based scam in July, said via the micro-blogging network, replying to a news report posted by by a Tesla-focused website.

Bitcoin, despite its growing mainstream popularity, is a favorite tool of cyber criminals, with victims thought to have paid out over $140 million to ransomware operators over the past six years, according to the FBI.

Ransomware hackers, who encrypt their victims' files before demanding bitcoin or other cryptocurrencies to unlock them, have increased their attacks during the coronavirus pandemic, Interpol reported in April, with criminals taking advantage of an influx of remote workers.

Tesla, now boasting an eye-watering market capitalization of around $465 billion, became the world's biggest car company by value in July after a near six-fold increase in the value of its shares this year--propelling Musk's personal fortune past $100 billion.

The Palo Alto-based company, whose output is dwarfed by most of its established rivals with General Motors GM shipping 7.7 million cars last year compared to Tesla's 360,000, plans to use cash from a share sale conducted this week to expand production and build new factories near Berlin, Germany and Austin, Texas.

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How the Bitcoin Blockchain Is Being Used to Safeguard Nuclear Power Stations – CoinDesk – CoinDesk

Nuclearis, a manufacturer of precision mechanical components for the nuclear industry, is using the Bitcoin blockchain to verify the manufacturing blueprints of parts that make up nuclear power reactors.

Announced Tuesday, Nuclearis, which is headquartered in Buenos Aires, Argentina, and has offices in the U.S. and China, is using the Bitcoin-powered RSK blockchain as an immutable anchor, keeping tabs on critical documents. The firm has open-sourced the framework so other players in the nuclear industry can use it.

Its not the first time blockchain tech has been leveraged within the nuclear industry. Estonias Guardtime has been using its own version of DLT for some time to distribute data as a way to prevent cyberattacks on nuclear infrastructure. There have also been projects using blockchain to track the uranium fuel supply chain and also track what happens to nuclear waste.

Safety is everything when it comes to nuclear. The track and trace use case for manufacturing documents is important because there have been forgeries in the past, where antiquated nuclear reactors have opted for shortcuts to revamp equipment (a high-profile case of this sort went through the courts in France in 2016.)

Some 150 new reactors are set to be built over the next 30 years and the NuclearTech space is all about instilling trust within the operators of nuclear power plants, said Nuclearis CTO Sebastian Martinez.

Part of the problem is that there are many intermediaries in this supply chain and parts of it are still paper-based, said Martinez. We hash the manufacturing documents and upload to the blockchain at the point of creation of the steel part. Months or even years later, when we deliver the part, the power plant can check if everything digitally matches.

Nuclearis, which is working with Argentinas three power plants Atucha I, Atucha II and Embalse said the Argentine government and the countrys main operator of nuclear power plants, Nucleoelctrica Argentina, are looking to adopt its blockchain system.

The RSK blockchain developed with consultancy IOV Labs uses a process called merged mining to run a sidechain on the Bitcoin blockchain and harvest the hash power of the largest cryptocurrency.

The immutability and security that blockchain provides are of the most importance for the nuclear industry, IOV Labs CEO Diego Gutierrez Zaldivar said in a statement. We are very excited about Nuclearis solution in that industry and thrilled they have chosen RSK blockchain and RSK Infrastructure Framework (RIF) technologies for its development.

The RSK-based platform now in use is only for tracking the provenance of new parts, but there are lots of interesting use cases going forward around areas like decommissioning of parts, Nuclearis said.

If you replace something like a pump from a primary circuit that has been radioactive for the last 50 years, you have to decommission it, get it out of the reactor and dismantle it, said Martinez. Traceability of that stuff is very important so it doesnt turn up on some black market, or worse, finds its way into a dirty bomb.

Read more:
How the Bitcoin Blockchain Is Being Used to Safeguard Nuclear Power Stations - CoinDesk - CoinDesk

Trumps Former Pro-Bitcoin Chief of Staff Now Runs a Hedge Fund – Cointelegraph

Former White House chief of staff under U.S. President Donald Trump Mick Mulvaney is running a hedge fund. Since 2014 Mulvaney has been recognized as a pro-Bitcoin (BTC) official, encouraging practical regulation of cryptocurrencies.

The new fund called Exegis Capital was announced during a podcast with S&P Global Market Intelligence. Mulvaney would collaborate with former Sterling Capital Management portfolio manager Andrew Wessel.

At the 2014 Bitcoin Demo Day conference, Mulvaney said he would like to see the government take its time in regulating Bitcoin.

He said the top cryptocurrency has the potential to become a medium of trade and a means of payment. Mulvaney said at the time:

My interest in it is to just try and make sure that government doesnt act too soon in such a fashion that curbs the potential for Bitcoin. Because I see potential for Bitcoin as a medium of trade and as a transactional tool, and I'd hate to see the government make decisions early that sort of retard its growth.

Since then, he has continuously encouraged the government to efficiently regulate the cryptocurrency market. When Mulvaney was initially appointed as the White House chief of staff, the sentiment among cryptocurrency industry executives was generally positive.

It remains to be seen whether Mulvaneys enthusiastic stance towards Bitcoin would lead the fund to get involved in the cryptocurrency market.

In recent weeks, the Bitcoin market has seen a spike in the inflow of institutions. Most recently, Fidelity Investments filed an application with the U.S. Securities and Exchange Commission to operate a Bitcoin fund.

As Cointelegraph reported on Aug. 26, Fidelity Investments President Peter Jubber filed the Form D for a Bitcoin index product with a $100,000 minimum investment.

Previously, Fidelity said in a paper entitled Bitcoin Investment Thesis: An Aspirational Store of Value that Bitcoin has the properties of a store of value. The paper reads:

Many investors consider Bitcoin to be an aspirational store of value in that it has the properties of a store of value but has yet to be widely accepted as such.

The growing institutional activity in the Bitcoin market naturally raises the speculation on whether more hedge funds would enter the cryptocurrency space.

In the near term, Mulvaney is unlikely to actively consider Bitcoin and cryptocurrencies due to his ties with the administration.

While Mulvaney is no longer the White House chief of staff, he still remains a special envoy. Given the Trump administrations negative stance towards Bitcoin, the probability that Exegis Capital would seek exposure to cryptocurrencies remains low, at least for the foreseeable future.

Link:
Trumps Former Pro-Bitcoin Chief of Staff Now Runs a Hedge Fund - Cointelegraph