Monthly Archives: November 2013

Bitcoin needs to scale by a factor of 1000 to compete with Visa. Here’s how

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“The Visa network is designed to handle peak volumes of 10,000 transactions per second.  So far, that hasn’t been a problem because Bitcoin users are only generating around 1 transaction per second. But if the Bitcoin economy continues to grow, it’s only a matter of time before that limit becomes a problem.  Can the Bitcoin network be tweaked to handle the much higher transaction volumes that could occur in the future? To answer that question, I talked to prominent Bitcoin developer Mike Hearn. He helped me understand the current limits on Bitcoin performance and how Bitcoin’s development team plans to overcome them.”

http://www.washingtonpost.com/blogs/the-switch/wp/2013/11/12/bitcoin-needs-to-scale-by-a-factor-of-1000-to-compete-with-visa-heres-how-to-do-it/

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Frank Facts About the New Malta Passport Program

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“The proposal would create an ‘Individual Investor Program’ (IIP) granting citizenship and a passport to foreigners who make a contribution of €650,000 or more to the government. Applicants would also need to clear what Prime Minister Joseph Muscat says will be ‘the most rigorous due diligence of any program worldwide.’  You would also be able to include your spouse, dependent children under the age of 26, and even dependent parents for additional fees. A non-refundable deposit of €10,000 would be payable in advance. If enacted, this law would make Malta an instant contender for one of the world’s most attractive economic citizenship programs.”

http://www.nestmann.com/frank-facts-about-the-new-malta-passport-program

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New street lights that can record your conversations installed in Vegas

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“The wireless, LED lighting, computer-operated lights are not only capable of illuminating streets, they can also play music, interact with pedestrians and are equipped with video screens, which can display police alerts, weather alerts and traffic information. The high tech lights can also stream live video of activity in the surrounding area.  But there’s one major concern. These new street lights, being rolled out with the aid of government funding, are also capable of recording video and audio.  The lights are being touted as security devices that can assist with ‘Homeland Security’ measures by providing applications like video surveillance and motion sensors.”

http://www.dailymail.co.uk/news/article-2497624/Las-Vegas-street-lights-record-conversations.html

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National Microphone Spy System Capable of Recording Conversations

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“The revelations of Edward Snowden shone fresh light on NSA spying targeting the American people, but what has gone largely unnoticed is the fact that a network of different spy systems which can record real time conversations are already in place throughout many urban areas of the United States, as well as in the technology products we buy and use on a regular basis.  These systems are no secret – they are hiding in plain view – and yet concerns about the monolithic potential for their abuse have been muted.”

http://www.infowars.com/spy-grid-can-now-record-your-conversations-in-real-time/

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US Airspace To Crawl With 7,500 Drones In 5 Years

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“The chief of the Federal Aviation Administration predicted Thursday that U.S. airspace could be crowded with as many as 7,500 commercial drones within the next five years. Michael Huerta said his agency would set up six sites across the country to test drone operators and, in an effort to balance privacy/safety with anarchic airspace drone pollution, he added, ‘we must fulfill those obligations in a thoughtful, careful manner that ensures safety and promotes economic growth,’ as dangerous incidents involving drones have already taken place. Although they are expected to be used for peaceful purposes such as firefighting and weather tracking – it’s causing a lot of concern.”

http://www.zerohedge.com/news/2013-11-09/us-airspace-crawl-7500-drones-5-years

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How one site beat back botnets, spammers, and the “4chan party van”

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“The two-month-long campaign of harassment and attacks, which Van Pelt suspects was carried out by a competing virtual private networking service, illustrates the lengths some people will go to goad their online adversaries. His experience provides a vivid account of what it’s like to be on the receiving end of a relentless stream of distributed denial-of-service attacks and ultimately what can be done to mitigate them. The attacks began in late August, shortly after TorGuard announced a promotional campaign that slashed normal fees by 50 percent for both new and existing customers.”

http://arstechnica.com/security/2013/11/how-one-site-beat-back-botnets-spammers-and-the-4chan-party-van/

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Tesla-Inspired Metamaterial Converts 900 MHz Microwaves to Power

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“Mr. Tesla’s efforts on wireless power quietly died as he turned to other projects.  And as almost every occasional scientist who investigated these stories throughout the 1960s, 70s, and 80s failed to replicate his results; many simply called them hogwash.  But over the last five years something inexplicable has happened.  Wireless power research has reinvented many of the technologies that Mr. Tesla claimed to have built.  The crudest examples are currently the only ones available to the consumer — induced power between planar coils. This technology is currently being tested at the University of Utah as a means of charging electric vehicles (including electric buses).”

http://www.dailytech.com/TeslaInspired+Metamaterial+Converts+Radiowaves+to+Power/article33724.htm

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Miner to Pay in Bitcoins for Work at Tungsten Project

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“As Ridge completes the work, it will quote payment in Canadian dollars and Vancouver-based Alix will convert the price into the digital currency, Alix Chief Executive Officer Michael England, 50, said in a phone interview.  ‘We are a mining exploration company so yes, this is a bit different,’ he said. ‘There’s a lot of expectations that Bitcoins are going higher, so why not start accumulating?’  Alix has also teamed up with a software vendor to operate a Bitcoin exchange. Depending on the success of the venture, Alix may shift its focus to Bitcoins entirely, England said.  ‘We want to take advantage of this niche, this explosive sector,’ he said.”

http://www.bloomberg.com/news/2013-11-12/miner-to-pay-in-bitcoins-for-work-at-tungsten-project.html

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Everything you need to know about BitCoin

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“I’ve written about Bitcoins quite a bit in the past year here on Marketwatch’s The Cody Word, and you can see my evolution from skeptic to buyer. Maybe I’m nuts, but if you’d moved like I did to put 1% of your portfolio into BitCoin when I first suggested doing so, you’d already have more than a triple on your hands.  I am long BitCoins and I feel a bit nutty even admitting that much. On the other hand, it makes me sad that I know lots of middle-class folks here in my hometown who speculated on Iraqi dinars but NOBODY here has caught this huge move from $BITCOIN speculation. Sigh.”

http://blogs.marketwatch.com/cody/2013/11/12/everything-you-need-to-know-about-bitcoin/

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5 ways fiat currency is fighting back against bitcoin

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“Today’s financial institutions are demonstrating that they are looking to harness new technologies to eliminate friction in the marketplace. From the trenches of the alternative currency movement, it can be difficult to see the larger innovations that are being set in motion in the traditional financial world, and how the marketplace is breaking many long-held rules to encourage new ideas. The following five innovations may be small in scale in comparison to virtual currency, but their impact on how consumers, businesses and their big-brand intermediaries transact will be large and they could open up many consumers to the more forward-thinking properties of alternative currencies.”

http://www.coindesk.com/5-ways-fiat-currency-fighting-back-bitcoin/

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