Bitcoin Will Never Ditch You Ad Tells HKs Apple Daily Readers – Cointelegraph

Another ad for cryptocurrency has appeared in print media, this time without promoting a specific business or service.

A full-page ad for Bitcoin (BTC) appeared on the front page of the Hong Kong-based tabloid-style newspaper Apple Daily today. Though the text appears to be educating readers about BTC, there is no apparent mention of where or how to buy the coin only a single reference to Genesis Block, a crypto firm based in the special administrative region.

Bitcoin will never ditch you, the ad stated in English above the name of Satoshi Nakamoto, while adding in Cantonese: Banks, you're not ditching me today I'm ditching you.

"Bitcoin is digital money. It is not issued or controlled by any government or corporation. Nobody can stop you from transacting on the network and it cannot be shut down. Bitcoin is available to anyone regardless of their nationality, gender, or beliefs. Bitcoin began with the Genesis Block during the financial crisis of 2009. Now, its time is coming.

Source: Reddit

The Apple Daily is one of the largest print media in Hong Kong, but it has become even more popular since its CEO was arrested two weeks ago.

Billionaire and Apple Daily CEO Jimmy Lai was arrested on Aug. 10 for alleged violations of HKs controversial National Security Law. The newspapers offices were also raided by authorities the same day. His detainment was seen by many as part of a crackdown against pro-democracy figures in the special administrative region.

In response, Hong Kongers showed support for Lai and the free press by lining up early to buy issues of Apple Daily, and also shares of Next Digital the parent company responsible for the newspaper. Their efforts caused the price of the companys stock to surge by more than 1,100%.

Lai was released after 40 hours in custody. However, his arrest and the support for the newspaper as one of the independent news outlets in the midst of ongoing protests may partially explain why someone chose the Apple Daily for a prominent Bitcoin ad.

The ads messages of nobody can stop you and not being controlled by any government may very well resonate with young protesters looking for an alternative to traditional finance.

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Bitcoin Will Never Ditch You Ad Tells HKs Apple Daily Readers - Cointelegraph

Backing the development of Bitcoin Core infrastructure for sound money – Cointelegraph

Supporting the open-source community continues to be a priority for OKCoin, which has enabled us to sponsor the development of the very infrastructure that we depend on as a crypto exchange. Our commitment to free and open-source software, or FOSS, has led us to provide three additional grants so far in 2020. Announced on Aug. 6, our most recent grant was awarded to Marco Falke, a Bitcoin Core maintainer and the most active contributor to the Bitcoin code since 2017. This has been preceded by three more: BTCPay, Amiti Uttarwar and Fabian Jahr.

Its been six months since we announced our first developer grant to a Bitcoin Core developer. In those months, weve witnessed the fallout from a global COVID-19 pandemic, and the strange and contrasting impact it has had on global communities and markets. While the general public has been pessimistic, experiencing hardship and loss, equity markets have been rising, with the Federal Reserve significantly increasing the money supply. These flaws in the existing economic systems have only served to further solidify the importance of cryptocurrency and Bitcoin (BTC) as an alternative, sound currency.

Weve also been inspired to heighten our role in supporting the open-source development of cryptocurrency infrastructure. Collectively, OKCoin has now provided over $500,000 in grants to open-source developers. Having provided these grants, weve been pleased to see other organizations get involved in supporting Bitcoin Core developer sponsorship as well.

Were excited to see the level of interest increase among a varied group of organizations, each of which views crypto from a different perspective. Optionality and partnership are very important in maintaining the independence of the developer community. This is why we partnered with BitMEX on our recent grant to Amiti Uttarwar, who has made strides in her work on Bitcoins peer-to-peer layer. Uttarwars contributions have strengthened Bitcoin Core, making the codebase more secure for everyone sending transactions.

Money is the foundation of our society, and OKCoin is committed to building crypto for the long run. Therefore, we think its a natural concept for us to support the developers who contribute to making Bitcoin a stronger candidate as sound money.

Weve continued to focus on supporting Bitcoin Core with our latest sponsorships because we see great externality in Bitcoin Core. The development of Bitcoin supports the entire industry in the forms of education, validation and adoption.

There may be many different versions in the future where crypto is impactful, but one of the most exciting versions may have a distributed and trustless monetary system, for example, Bitcoin, as a fundamental layer. On top of the new monetary system, a distributed and trustless financial system and a distributed and trustless society could emerge. To do that, Bitcoin needs to scale. Fabian Jahr, OKCoins first grant recipient, worked on accelerating remote procedure calls in the UTXO set this is just one example of the direct impact developers have on building essential Bitcoin infrastructure.

Bitcoins success is our success, so we dont see developer grants as an obligation or as a donation. We see these grants as an investment in our future. Free and open-source software benefits everyone, and supporting it is particularly critical in crypto.

Connecting with and backing Bitcoin developers has been a community effort, with a lot of knowledge shared among sponsors. Chaincode and Square Crypto have been very helpful to our efforts at OKCoin, and in order to strengthen this initiative, weve been happy to share what weve learned through the process with Kraken and others.

While not all grants are done in partnership, sponsoring open-source development is ultimately a collaborative initiative. Weve been open about what weve learned because we believe its healthy to build a community sponsorship matrix for FOSS development.

The funding model that exists today for open-source work is based on corporate grants and financial backing. While corporate objectives may align with the work that FOSS developers are focused on, the credibility of their contributions to decentralized networks relies on their ability to function autonomously while being financially supported. We believe that allowing developers to do their work without conditions improves the quality of full-time developers committed to open-source development and ensures that the community of developers operates collectively and transparently. Its on us as an industry to ensure that the right incentives are in place to attract and keep the best talent to help grow Bitcoin and the crypto industry.

Just as companies are continuously developing, so too is the Bitcoin codebase. There is still much work to be done, and its important that the organizations that rely on the infrastructure support this work. It also matters how financial backing is provided; without strings attached, allowing developers to focus on what they believe is most crucial. Were proud to have sponsored three independent developers and the BTCPay Server project and look forward to continuing to support the open-source community.

The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Hong Fang is the CEO of OKCoin a cryptocurrency exchange headquartered in San Francisco and is the chief operating officer at OKGroup. Hong comes from a Wall Street background, having spent almost a decade at Goldman Sachs where she focused on mergers and acquisitions, capital markets, investment, restructuring and various other corporate development activities for both traditional financial institutions and fintech companies. She is a graduate of Peking University in Beijing, China, and has an MBA in finance, accounting and entrepreneurship from the University of Chicagos Booth School of Business.

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Backing the development of Bitcoin Core infrastructure for sound money - Cointelegraph

Weekly Recap: Bitcoin Above $11,500, Ethereum Above $380 – Yahoo Finance

Bitcoin has not broken the uptrend, though, and is continuing its ascension. On Saturday, 22 August, Bitcoin slightly rebounded off the weekly support level at $11,574 thus keeping it intact. Despite falling sharply, Ethereum has not breached its daily $378 support level either, allowing us to consider the ETH uptrend still running on.

Last week started for Bitcoin with a sharp surge on Monday in one 4-hour candlestick. Then the weekly high was made and the cryptocurrency began slowly slipping down henceforth. The first significant hurdle to that downslide was found on Wednesday, 19 August, when the price of Bitcoin reached the supporting trendline for Bitcoins local ascension move that began on 27 July.

The market leader rebounded slightly off this trend line, reaching above the 50-period SMA on the 4-hour chart and daily level at $11,862. But the upside move was small and short-lived, as a result BTC/USD slumped below the supporting trendline on Friday, 21 August.

On Friday, the pair finished below the $11,574 resistance level at $11,503, but rebounded back above it on Saturday. We thus may state that the fact the $11,574 resistance is keeping up Bitcoins upside trade, and the uptrend has not yet been reversed, judging by the graphic pattern formed. However, the dip below the 20-period and 50-period SMAs increases potential downside risks.

Ethereum started off this week with a moderately paced downside move that continued through Wednesday. There was a modest rebound on Thursday, however accompanied by a downside convergence of the 20-period SMA over the 50-perod SMA on the 4-hour chart. The pair was trending down until it almost touched the $370 daily support level on Friday. On Saturday and Sunday ETH/USD basically traded flat, staying above $390 most of the time.

The week has been negatively marked for Ethereum by a failure on the testnet Medalla built for Ethereum 2.0 proof-of-work on 18 August. One of the six servers on which Medalla runs reported the time as being one day ahead of actual time. The system averaged out the time discrepancy by shifting the time on all servers by 4 hours ahead of the present. As a result, validators incorrectly proposed blocks and attestations for future slots, as per Prysmatic Labs official report. The glitch in the system took most of the networks validators offline.

On that day Raul Jordan Prysmatic Labs editor wrote in his blog that Prysmatic Labs believed, this incident does not inherently affect the launch date. On August 19, the testnet was running again though not yet in a stable manner on a number of accounts. Still, the incident produced a notable effect on the trade of ETH/USD with the weeks biggest losses registered on the 18th and 19th August.

Story continues

Bitcoins uptrend is under the threat of a downside reversal. The key support level of $11,574 is in the markets focus. The space between the weekly support and the daily resistance levels is very small for a weeks time, and the price of the BTC/USD pair is unlikely to remain within its boundaries this week, however, there may be false breakthroughs that will ultimately let it stay within the corridor by the end of the week. Still, either a downside or upside exits are the more likely options.

Bitcoins uptrend so far looks intact with the weekly resistance holding on. However, the continuation of the uptrend looks questionable. The most reasonable decision for position traders now would be to wait and see until the situation clears. As for the odds of the direction Bitcoin continues, the likelier option is up, given its position around the weekly $11,574 support level. Shorting Bitcoin in the current situation might be a higher risk move.

For Ethereum, the situation also appears rather mixed. Approaching trading Ethereum versus dollar this week, one should closely monitor the news concerning Medalla testnet. The Ethereum 2.0 project is expected to increase the scalability of Ethereum and thus gives substantial fundamental input to its market valuation. However the projects realisation will have the ultimate impact on the markets reaction to it.

Ethereum was in a downtrend through last week and slowed down its descent, nearing daily support. A further upside move looks a technically plausible option and a buying order at $380 may be not a bad option. Nevertheless any negative news may create a threat for this scenario. However, a mid-term short order for ETH/USD looks a much riskier option in the current situation.

Konstantin Anissimov, Executive Director at CEX.IO

This article was originally posted on FX Empire

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Weekly Recap: Bitcoin Above $11,500, Ethereum Above $380 - Yahoo Finance

Inter-Blockchain Liquidity: Minting Synthetic Bitcoin Cash With the Ren Protocol – Bitcoin News

The decentralized finance (defi) ecosystem has matured quite a bit in 2020 and one project thats seen some growth is the Ren Protocol. The application that allows people to access inter-blockchain liquidity for a number of defi applications. The following post is a step-by-step guide on how to leverage the Ren Protocol with Bitcoin Cash and a Metamask wallet.

This week news.Bitcoin.com tested the Ren Protocol, another decentralized finance (defi) application that has been making waves within the crypto community. This is because the total value locked (TVL) in the Ren-VM system right now is more than 12,600 BTC ($146 million).

The Ren protocol also works with zcash (ZEC) and bitcoin cash (BCH) as well, as it offers cross-chain capabilities with three blockchains and then connects them to Ethereum. In order to give our readers some perspective on how the project works, we tested the Ren Bridge to mint a very small fraction of renBCH.

Essentially renBCH is just like renBTC, as it is a synthetic form of bitcoin cash. After the tokens are minted they can be leveraged on a number of defi applications like Curve or Uniswap.

The following guide illustrates how easy it is to utilize these defi platforms, but it also shows how Ethereum is suffering from fee issues.

Paying $3 to $6 per transaction is nothing to someone leveraging various defi apps in order to yield off of 6,000 USDC with an intricate flash loan. In my experiment, I only minted $1 worth of BCH to test the system for this article and this is totally not a recommended amount with current gas prices.

Before even leveraging the Ren Bridge the website explains that the platform should be used for over $10 worth of BCH, BTC, or ZEC. I found with gas so expensive today, its probably better to leverage a bit more than just $10, but for this test, I had the audacity to mint $1 worth of bitcoin cash (BCH).

The first thing you will need is some ethereum (ETH), bitcoin cash (BCH), and a Metamask wallet. You will also need a bitcoin cash (BCH) compatible wallet too and then you can head over to the website at bridge.renproject.io/.

From here you can connect with your Metamask wallet and accept the interaction with the Ren Bridge.

Once the wallet is connected, you can then leverage the Ren Bridge to mint renBTC, renBCH, or renZEC. As mentioned above, I decided to mint 0.0035 BCH ($1) into renBCH and the application lets you choose the asset, amount, the destination address, and it also shows you how much you will receive.

The window told me I would get 0.002797 renBCH and the next page breaks down the settlement fees. After accepting, the bridge gives you an invoice or bitcoin cash address to send the BCH to in order to continue. I sent $1 worth of BCH from my Bitcoin.com Wallet by scanning the QR code given with the invoice.

Paying the invoice takes a while, as the Ren Protocol wants 15 BCH confirmations in order to continue the process.

From here, I walked away for a few hours and came back after my transaction made it through 15 confirmations. Once the wait time is over, the Ren Bridge will ask you to submit the transaction to the Ethereum network.

After hitting confirm, the Ren Bridge connects with Metamask again and the wallet explained the fee would be $6.52 to process the action. Even though I knew the fees were well above what I minted, I continued the process for testing purposes only.

After the Ethereum blockchain confirmed the transaction, I was the proud owner of 0.002797 renBCH. The Bridge application also allows users to release the renBCH and you can get bitcoin cash (BCH) or whatever coin you leveraged during the process back at any time.

Instead, you can also leverage the wide variety of defi applications with the newly minted coins. Defi apps with few or no trust assumptions are available on the open web and renBCH and other crypto synthetics are supported for trade. My newly minted renBCH was identified on Uniswap and other platforms after simply connecting my Metamask wallet.

Overall the experience was simple to process and as mentioned a few times above, minting less than what it costs in fees is not sustainable. I highly recommend leveraging at least $50 or more, of any crypto asset supported, in order to use the Ren Protocol with gas fees today.

Although, people should research Ren with due diligence and never use more crypto assets than they can afford to lose with any defi application in existence. Even though defi offers solutions with little to no trust involved depending on the protocol, there is always risk involved.

However, those with deeper pockets who do want to leverage these defi applications in order to obtain certain preferable actions are likely willing to pay for such fees.

Users can make a whole lot of money farming yield, executing flash loans, and providing scalable dark pools of liquidity. All three of these concepts can be worthwhile even with $6 gwei prices if the person knows what they are doing.

What do you think about the minting experience using the Ren Protocol? Let us know what you think in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Ren Protocol, Ren Bridge, Uniswap, Etherscan, Defipulse,

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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Inter-Blockchain Liquidity: Minting Synthetic Bitcoin Cash With the Ren Protocol - Bitcoin News

Bitcoin Macro Trend Unaffected by Chinese Investors $50B Tether Exodus – Cointelegraph

New data from Chainalysis shows Chinese investors reportedly used Tether (USDT) to move nearly $50 billion overseas. This has led some crypto investors to question whether or not Bitcoin price could be impacted by capital flight from China.

Chainalysis researchers said:

Over the last twelve months, with Chinas economy suffering due to trade wars and devaluation of the yuan at different points, weve seen over $50 billion worth of cryptocurrency move from China-based addresses to overseas addresses.

A large portion of the funds were moved through Tether and as this occurred the dominant stablecoin saw its market cap rise to a new all-time high at $12 billion on paper.

China, along with several other Asian countries, have strict capital controls that make it difficult for investors to move large sums of money abroad.

If Chinese investors moved tens of billions of dollars in Bitcoin (BTC) or Tether solely to move capital out of China, there is a chance that a large part of it is sold and turned into cash.

Chainalysis emphasized that not all of the $50 billion is capital flight, but it can be considered as the absolute ceiling. The researchers said:

Obviously, not all of this is capital flight, but we can think of $50 billion as the absolute ceiling for capital flight via cryptocurrency from East Asia to other regions.

The researchers evaluated wallets based in China and their transactions to addresses in foreign countries. They found that $18 billion in Tether was moved from East Asia to other regions.

But the company noted that it is unlikely that all of it is capital flight. As such, it is difficult to know what percentage of the funds were moved as a means to transfer capital outside of China. They explained:

In total, over $18 billion worth of Tether has moved from East Asia addresses to those based in other regions over the last 12 months. Again, its highly unlikely that all of this is capital flight.

If the outflow was purely capital flight being routed into BTC, then this would add selling pressure to Bitcoin. In such a situation, there should be some downturn in BTC price as these investors would be closing their newly opened Bitcoin positions in pursuit of USD or other fiat currencies.

BTC/USD weekly chart. Source: TradingView.com

One variable that complicates the China USDT exodus theory is that in 2020 exchanges have seen their BTC reserves drop to record lows and more investors holding their Bitcoin in cold storage as they expect higher prices in the future.

It is entirely possible that, if the funds were moved for the purpose of capital flight, they could have been sold anytime in the past year.

Hence whether it could apply selling pressure onto the Bitcoin market in the near-term is practically impossible to conclude.

Based on the broad timeframe of the movement of the funds and Tether accounting for a large part of the funds, it is not likely to have a big impact on Bitcoin in the short-term.

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Bitcoin Macro Trend Unaffected by Chinese Investors $50B Tether Exodus - Cointelegraph

Re-Mining Simulation Shows Satoshi Used a Single High-End PC to Mine 1.1M Bitcoin – Bitcoin News

Cryptocurrency advocates have been recently discussing the mysterious Bitcoin inventor Satoshi Nakamoto as RSKs chief scientist, Sergio Demian Lerner, published a paper called The Patoshi Mining Machine. Essentially, Lerner simulated Satoshis mining experience. The findings estimate that Bitcoins creator used a single computer to mine an estimated 1 million bitcoin minted in the early days.

Sergio Demian Lerner is well known for publishing one of the first estimates backed by technical data in 2013 concerning Satoshi Nakamotos alleged stash of bitcoin.

During the last seven years, Lerner has published a few more papers about this subject and it is estimated that Satoshi mined 1.1 million BTC. Not too long ago in 2018, Bitmex Research published findings that estimated Satoshi may have only mined 700,000 BTC.

At the end of July 2020, the blockchain trackers and researchers from Whale Alert published a new research report which placed the figure around 1,125,150 BTC.

Lerners latest paper The Patoshi Mining Machine looks into whether or not the Patoshi pattern (Satoshis mining) was done by multiple computers or a single PC. Lerner simulated Satoshis mining experience by mining a large part of Patoshi nonce space scanning sequentially in the range.

The RSK chief scientist paper noticed a tendency while re-mining the old Satoshi bocks which reduces the nonce value.

It turned out that re-mining reveals a strong tendency of the Patoshi mining algorithm to choose higher nonces when scanning the inner nonce, Lerner discovered. This tendency suggests the nonce was being decremented, which is the opposite that the Satoshi client version 0.1 does.

Re-mining revealed some of the possible solutions chosen by the miner, Lerner detailed and one that exists in the blockchain, will be called the real solution.

The finding leads Lerner to believe that Satoshi didnt leverage 50 computers to mine the Patoshi blocks and its very likely the inventor utilized a single machine back then.

Lerner thinks that Satoshi may have been scanning subranges in parallel when he examined the nonce imbalance decreases. Since the nonce imbalance decreases when analyzing two subranges together, this suggests Patoshi was scanning the 5 subranges in parallel, but each subrange internally sequentially, Lerners paper notes.

The researchers study further adds:

This contradicts a theory that Patoshi deployed the first mining farm of 50 independent computers (or any other highly decoupled system) and supports the theory that Patoshi was simply multi-threading in a high-end CPU.

Lerner said that he attempted the re-mining process in 2014, but shelved the idea for a number of years. The researcher detailed that this year he re-mined with a standard CPU and re-mined the first 18K block only to check that the theory matched the reality (It does).

During the last few years, the search for clues about Satoshi has been a fan favorite and people continue to investigate his past movements and how the inventor jumped-started the Bitcoin network.

Lerners Patoshi papers have always lent credence to a number of theories about the estimated size of Satoshis bitcoin stash and how Nakamoto may have operated in the early days.

What do you think about Sergio Demian Lerner re-mining 18,000 blocks in order to discover Satoshis secrets? Let us know what you think in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, https://bitslog.com

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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Re-Mining Simulation Shows Satoshi Used a Single High-End PC to Mine 1.1M Bitcoin - Bitcoin News

US Election and A Weak Dollar are ‘High-Octane’ Drivers for Bitcoin – AiThority

The US presidential election and the weakness of the dollar will be high-octane drivers for the Bitcoin price for the rest of 2020, affirms the CEO of one of the worlds largest independent financial advisory and fintech organisations.

The prediction from Nigel Green, chief executive and founder of deVere Group, comes as the election campaigning moves into a critical phase after Joe Biden formally accepted the Democratic nomination

It also follows the dollar hitting a two-year low last week over concerns about the health of the U.S. economy.

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Mr Green says: Bitcoin is already one of the best-performing assets of the year, up around 70% year-to-date.

We can expect the worlds largest cryptocurrency to be further fuelled for the rest of 2020 by the U.S. presidential election and the weakness of the U.S. dollar, which will serve as high-octane price drivers.

He continues: A U.S. presidential election always stirs uncertainty but 2020 is seen by many as particularly important as not only will whoever wins be the CEO of the worlds largest economy, they will be in that role as the world economically readjusts following the global fallout of coronavirus.

As uncertainty heightens, investors will pile intosafe-haven assets, in particular those not tied to any specific country, such as Bitcoin and gold.

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Bitcoin is currently realising its reputation as a form of digital gold. Up to now, the precious metal has been perceived as the ultimate safe-haven asset, but Bitcoin which shares its key characteristics of being a store of value and scarcity could potentially knock gold from its long-held top spot as the world becomes driven by the tech revolution.

Decentralized, non-sovereign, secure digital currencies, including Bitcoin, will become more attractive to investors as they will offer a hedge against turbulence in traditional markets.

The deVere CEO goes on to say: Printing of historic sums of helicopter money thats pushed into the financial system has devalued the dollar and prompted inflation fears.

You cant just print Bitcoin.

He adds: The greenback could be in for a short-term boost, but in the longer term there are expectations its on a downward trajectory and that it could ultimately lose its global reserves status and this environment will provide a powerful boost for the price of Bitcoin.

This explosive combination together with a growing number of millennials and Gen Z investors moving into digital assets could provide the perfect landscape for a multi-year bull market, he notes.

Mr Green concludes: History will show that 2020 was a breakout year for Bitcoin.

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US Election and A Weak Dollar are 'High-Octane' Drivers for Bitcoin - AiThority

IMF Publishes Cryptocurrency Explainer, Saying It ‘Could Be the Next Step in the Evolution of Money’ | News – Bitcoin News

The International Monetary Fund (IMF) has published a video explaining what cryptocurrency is. Besides suggesting that cryptocurrency could completely change the way we sell, buy, save, invest, and pay our bills, the video states that it could be the next step in the evolution of money.

The IMF tweeted a video explaining what cryptocurrency is on Sunday that instantly went viral. Referring to cryptocurrency as a special currency, the two-minute video attempts to outline its benefits in payments, such as by removing middlemen, lowering costs, and increasing transaction speed. It also warns of what it sees as risks, such as anonymity and volatility. The video has garnered more than 523K views at the time of writing; it has been retweeted 5.5K times, liked 8.2K times, and received 807 comments. The video ends with:

If we can counter the risks, then this new technology or some variation of it can completely change the way we sell, buy, save, invest, and pay our bills. And who knows, this could be the next step in the evolution of money.

The video references the IMFs F&D (Finance & Development) magazine, June 2018 edition, entitled Money, Transformed The future of currency in a digital world. When that magazine edition came out, the organization posted the above video on its Youtube channel, which received little interest at the time.

Many people in the crypto space view the IMFs video as bullish. Tweets such as IMF learning fast. Global adoption is on its way, This is a big deal, and They are finally understanding blockchain and cryptocurrency are not going away flooded Twitter. One user wrote: I still cant believe I see this. IMF shills cryptocurrencies, of course, not bitcoin yet, but that time will come too.

Since the IMFs crypto explainer video does not mention any specific cryptocurrency, many commenters took the opportunity to promote their favorite coins.

Some people, however, criticize the content of the IMF video, saying that the information is misleading and omits many important points, including mining. Many also believe that bitcoin should have been mentioned. Nothing about why people choose to store their wealth in a scarce currency like bitcoin instead of fiat currencies that are benign constantly debased by banksters and cantillionaires, one user tweeted. You forgot one fundamental difference between fiat and bitcoin. Fiat is printable by centralized entities like government & banks, whereas BTC is decentralized and has a limit cap to its supply where only 21 million will ever exist in this universe. All powered by blockchain, another wrote.

Some questioned who the bad guys in the video are supposed to be and frowned upon it referring to private keys as passwords. Some say the video gives the appearance that all cryptocurrencies share the properties of bitcoin, and some suspect that the IMF is planning to launch its own cryptocurrency. One user noted that this video is set up like a Prelude to their own crypto coin that will come out at some point fixing all the problems with crypto that the IMF has outlined in this video.

What do you think about this IMF video? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, IMF, Twitter

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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IMF Publishes Cryptocurrency Explainer, Saying It 'Could Be the Next Step in the Evolution of Money' | News - Bitcoin News

7 Successful Ways To Use Artificial Intelligence To Improve Your Business Processes – Forbes

Now more than ever, you may be looking for ways to make your business more efficient, more streamlined, more cost-effective, and better able to cope with changing market needs. Artificial intelligence in particular, AI-driven automation is helping companies achieve all this and more.

7 Successful Ways To Use Artificial Intelligence To Improve Your Business Processes

Here are seven ways AI is transforming everyday business processes for the better.

1. Improving meetings

Okay, so AI cant eliminate meetings altogether. In fact, the coronavirus pandemic has shown us how maintaining human connections is vital, even from a distance which means meetings are definitely here to stay. But AI can at least help to cut down the tiresome admin involved before, during, and after meetings.

For example, voice assistants such as Google Duplex can schedule appointments for you. Then theres Voiceas EVA assistant, which can listen in on your meetings, capture key highlights and actions, and create and share actionable notes afterward. Another tool, called Sonia, does a similar thing, but is designed to capture client calls, transcribing the entire conversation, and automatically summarizing key items and actions.

2. Enhancing sales and marketing

Many off-the-peg CRM solutions now incorporate AI analytics, enabling sales teams to automatically generate valuable insights. For example, Salesforces Einstein AI technology can predict which customers are most likely to generate more revenue, and which are most likely to take their custom elsewhere. Armed with knowledge like this, salespeople can focus their time and energy where it matters most.

Then theres the widespread use of chatbots, which is helping organizations boost sales, drive revenue, and grow their audience. In one example, UK retailer Marks & Spencer added a virtual digital assistant function to its website to help customers solve common issues a move which has reportedly saved millions of pounds worth of sales that would otherwise have been lost as frustrated customers bounce off the site.

3. Assessing and improving customer service

When it comes to call center operations, automation is nothing new; simple inquiries have been met with automated menu services for some time. But one tech company says it can help companies automatically judge the quality of human customer service calls. Transcosmoss AI solution automatically assesses the quality of service given at speed with human accuracy and can detect inappropriate and problematic customer service with more than twice the accuracy of a voice recognition system.

4. Improving product development processes

Generative design is a cutting-edge field that uses AI to augment the creative process. With generative design software, you simply input your design goals and other requirements and let the software explore all the possible designs that could fulfill those specifications meaning you can quickly generate multiple designs from a single idea. The software does all the heavy lifting of working out what works and what doesnt, saving many, many hours of time. Plus, you avoid the expense of creating prototypes that dont deliver.

5. Automating content generation

This article wasnt written by a robot. But it could have been. Because, thanks to AI, machines are now capable of generating engaging, informative text to the extent that organizations like Forbes are producing articles with the help of AI.

From writing product descriptions and web copy, to industry articles and reports, theres a range of AI-driven content tools available. For example, e-commerce leader Alibaba has come up with a tool called AI-CopyWriter thats capable of generating more than 20,000 lines of copy in just one second.

6. Enhancing the manufacturing process

The use of robots in manufacturing is well established. But the latest generation of robotic systems is capable of working alongside humans and interacting seamlessly (and safely) with the human workforce. This has given rise to the term cobots" or collaborative robots.

Thanks to AI technologies like machine vision, cobots are aware of the humans around them and can react accordingly for example, by adjusting their speed or reversing to avoid humans meaning workflows can be designed to get the very best out of both humans and robots. Easy to program, fast to set up, and with an average price tag of around $24,000 each, cobots are a viable option to help smaller and mid-sized firms compete with larger manufacturers.

7. Refining recruitment

HR may not seem an obvious match with AI. Yet AI is fast finding many uses in HR processes, including recruitment. For large employers like Unilever, which recruits around 30,000 people a year and handles 1.8 million applications, finding ways to streamline and improve the recruitment process is essential. Thats why Unilever partnered with AI recruitment specialist Pymetrics to create an online platform capable of conducting initial assessments of candidates in their own home. According to Unilever, around 70,000 person-hours of interviewing and assessing candidates have been cut thanks to this automated screening of candidates.

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7 Successful Ways To Use Artificial Intelligence To Improve Your Business Processes - Forbes

Defense Innovation Unit Teaching Artificial Intelligence to Detect Cancer – Department of Defense

The Defense Innovation Unit is bringing together the best of commercially available artificial intelligence technology and the Defense Department's vast cache of archived medical data to teach computers how to identify cancers and other medical irregularities.

The result will be new tools medical professionals can use to more accurately and more quickly identify medical issues in patients.

The new DIU project, called "Predictive Health," also involves the Defense Health Agency, three private-sector businesses and the Joint Artificial Intelligence Center.

The new capability directly supports the development of the JAIC's warfighter health initiative, which is working with the Defense Health Agency and the military services to field AI solutions that are aimed at transforming military health care. The JAIC is also providing the funding and adding technical expertise for the broader initiative.

"The JAIC's contributions to this initiative have engendered the strategic development of required infrastructure to enable AI-augmented radiographic and pathologic diagnostic capabilities," said Navy Capt. (Dr.) Hassan Tetteh, the JAIC's Warfighter Health Mission Initiative chief. "Given the military's unique, diverse, and rich data, this initiative has the potential to compliment other significant military medical advancements to include antisepsis, blood transfusions, and vaccines."

A big part of the Predictive Health project will involve training AI to look at de-identified DOD medical imagery to teach it to identify cancers. The AI can then be used with augmented reality microscopes to help medical professionals better identify cancer cells.

Nathanael Higgins, the support contractor managing the program for DIU, explained what the project will mean for the department.

"From a big-picture perspective, this is about integrating AI into the DOD health care system," Higgins said. "There are four critical areas we think this technology can impact. The first one is, it's going to help drive down cost."

The earlier medical practitioners can catch a disease, Higgins said, the easier it will be to anticipate outcomes and to provide less invasive treatments. That means lower cost to the health care system overall, and to the patient, he added.

Another big issue for DOD is maximizing personnel readiness, Higgins said.

"If you can cut down on the number of acute issues that come up that prevent people from doing their job, you essentially help our warfighting force," he explained.

Helping medical professionals do their jobs better is also a big part of the Predictive Health project, Higgins said.

"Medical professionals are already overworked," he said. "We're essentially giving them an additional tool that will help them make confident decisions and know that they made the right decision so that we're not facing as many false negatives or false positives. And ultimately we're able to identify these types of disease states earlier, and that'll help the long-term prognosis."

In line with the department adding an additional line of effort focused on taking care of people to the National Defense Strategy, Higgins said using AI to identify medical conditions early will help to optimize warfighter performance as well.

"Early diagnosis equals less acute injuries, which means less invasive procedures, which means we have more guys and gals in our frontline forces and less cost on the military health care system," he said. "The ultimate value here is really saving lives as people are our most valuable resource."

Using AI to look for cancer first requires researchers to teach AI what cancer looks like. This requires having access to a large set of training data. For the Predictive Health project, this will mean a lot of medical imagery of the kind produced by CT scans, MRIs, X-rays and slide imagery made from biopsies, and knowing ahead of time that the imagery depicts the kind of illnesses, such as cancer, that researchers hope to train the AI to identify.

DOD has access to a large set of this kind of data. Dr. Niels Olson, the DIU chief medical officer and originator of the Predictive Health project, said DOD also has a very diverse set of data, given its size and the array of people for which the department's health care system is responsible.

"If you think about it, the DOD, through retired and active duty service, is probably one of the largest health care systems in the world, at about 9 million people," Olson said. "The more data a tool has available to it, the more effective it is. That's kind of what makes DOD unique. We have a larger pool of information to draw from, so that you can select more diverse cases."

"Unlike some of the other large systems, we have a pretty good representation of the U.S. population," he said. "The military actually has a nice smooth distribution of population in a lot of ways that other regional systems don't have. And we have it at scale."

While DOD does have access to a large set of diverse medical imaging data that can be used to train an AI, Olson said privacy will not be an issue.

"We'll use de-identified information, imaging, from clinical specimens," Olson said. "So this means actual CT images and actual MRI images of people who have a disease, where you remove all of the identifiers and then just use the diagnostic imaging and the actual diagnosis that the pathologist or radiologist wrote down."

AI doesn't need to know who the medical imaging has come from it just needs to see a picture of cancer to learn what cancer is.

"All the computer sees is an image that is associated with some kind of disease, condition or cancer," Olson said. "We are ensuring that we mitigate all risk associated with [the Health Insurance Portability and Accountability Act of 1996], personally identifiable information and personal health information."

Using the DOD's access to training data and commercially available AI technology, the DIU's Predictive Health project will need to train the AI to identify cancers. Olson explained that teaching an AI to look at a medical image and identify what is cancer is a process similar to that of a parent teaching a child to correctly identify things they might see during a walk through the neighborhood.

"The kid asks 'Mom, is that a tree?' And Mom says, 'No, that's a dog,'" Olson explained. "The kids learn by getting it wrong. You make a guess. We formally call that an inference, a guess is an inference. And if the machine gets it wrong, we tell it that it got it wrong."

The AI can guess over and over again, learning each time about how it got the answer wrong and why, until it eventually learns how to correctly identify a cancer within the training set of data, Olson said, though he said he doesn't want it to get too good.

Overtraining, Olson said, means the AI has essentially memorized the training set of data and can get a perfect score on a test using that data. An overtrained system is unprepared, however, to look at new information, such as new medical images from actual patients, and find what it's supposed to find.

"If I memorize it, then my test performance will be perfect, but when I take it out in the real world, it would be very brittle," Olson said.

Once well trained, the AI can be used with an "augmented reality microscope," or ARM, so pathologists can more quickly and accurately identify diseases in medical imagery, Olson said.

"An augmented reality microscope has a little camera and a tiny little projector, and the little camera sends information to a computer and the computer sends different information back to the projector," Olson said. "The projector pushes information into something like a heads-up display for a pilot, where information is projected in front of the eyes."

With an ARM, medical professionals view tissue samples with information provided by an AI overlaid over the top information that helps them more accurately identify cells that might be cancerous, for instance.

While the AI that DIU hopes to train will eventually help medical professionals do a better job of identifying cancers, it won't replace their expertise. There must always be a medical professional making the final call when it comes to treatment for patients, Higgins said.

"The prototype of this technology that we're adopting will not replace the practitioner," he said. "It is an enabler it is not a cure-all. It is designed to enhance our people and their decision making. If there's one thing that's true about DOD, it's that people are our most important resource. We want to give them the best tools to succeed at their job.

"AI is obviously the pinnacle of that type of tool in terms of what it can do and how it can help people make decisions," he continued. "The intent here is to arm them with an additional tool so that they make confident decisions 100% of the time."

The Predictive Health project is expected to end within 24 months, and the project might then make its way out to practitioners for further testing.

The role of DIU is taking commercial technology, prototyping it beyond a proof of concept, and building it into a scalable solution for DOD.

Excerpt from:
Defense Innovation Unit Teaching Artificial Intelligence to Detect Cancer - Department of Defense