Monthly Archives: December 2013

Talk of the Day — Bitcoin to be introduced in Taiwan

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“Wayi International Digital Entertainment Co. announced Wednesday that its online shopping site Wmall will begin to accept Bitcoin payments next year.  The OTC (over-the-counter) market-listed company, which focuses on the research, development and distribution of online games, will be the first Taiwanese company to accept the decentralized virtual currency as a payment tool.  Wayi’s decision will test the Central Bank of the Republic of China’s (CBC’s) attitude toward Bitcoin development in Taiwan and its ability to regulate the currency’s circulation.  CBC Governor Perng Fai-nan said recently that the central bank has been keeping close tabs on the development of Bitcoin.”

http://focustaiwan.tw/news/atod/201312110039.aspx

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Bitrated: You Can No Longer Say Bitcoin Has No Consumer Protection

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“Bitrated’s solution to consumer protection is in some ways an old one: escrow. Rather than a customer sending a payment to a merchant directly, the customer sends the payment into escrow, and the funds are released from escrow only when the customer confirms that they received the product or service. However, Bitrated makes one major addition to the model: multisignature transactions. Rather than the customer sending money directly to a trusted escrow agent, the customer sends the money to what is called a ‘2-of-3 multisignature address’ constructed using the customer, merchant and escrow agent’s public keys.”

http://bitcoinmagazine.com/8834/bitrated-you-can-no-longer-say-bitcoin-has-no-consumer-protection/

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Can Bitcoin replace PayPal?

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“At a time when many have lost faith in the global financial system, Bitcoin is being hailed as the future of e-commerce.  ‘It’s lower cost, lower risk and a more accessible form of payment from anything else we have today, especially for shopping online,’ says Tony Gallippi, founder of BitPay, a Bitcoin payment processing service.  ‘Credit cards were designed in the 1950s and were never designed for the Internet. It leads to issues like identity theft and payment fraud.’  Gallippi explains that the virtual peer-to-peer currency was created to be ‘borderless by design,’ thus opening the door to the international marketplace for smaller merchants.”

http://edition.cnn.com/2013/12/10/business/will-bitcoin-replace-paypal/

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Need Cash, But Don’t Want to Lose Your Bitcoins? Pawn Them

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“The setup is pretty simple. You hand over your bitcoins to PawnCoin, and they store them in a ‘cold’ bitcoin wallet that is not connected to the internet. A month later, you pay back the cash, plus a healthy 10 percent interest, or Light and Hilsz get to keep your bitcoins.  You can’t pawn your bitcoins just yet, but you can sign up to beta test the service. Light hopes to have the PawnCoin up and running by the end of March. Early interest seems to be coming from people who want to leverage what they own to buy even more bitcoins, he says.”

http://www.wired.com/wiredenterprise/2013/12/pawncoin/

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Youngest Bitcoin businessmen

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“Founders of Bees Brothers Nathan and Sam Huntzinger like the idea of idea of non-centralized currency that is inflation proof like Bitcoin.”

http://video.cnbc.com/gallery/?video=3000225330&play=1

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French agency caught minting SSL certificates impersonating Google

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“Rekindling concerns about the system millions of websites use to encrypt and authenticate sensitive data, Google caught a French governmental agency spoofing digital certificates for several Google domains.  After Google brought the certificates to the attention of agency officials, the officials said the intermediate certificate was used in a commercial device on a private network to inspect encrypted traffic with the knowledge of end users, Google security engineer Adam Langley wrote in a blog post published over the weekend. Google updated its Chrome browser to reject all certificates signed by the intermediate authority and asked other browser makers to do the same.”

http://arstechnica.com/security/2013/12/french-agency-caught-minting-ssl-certificates-impersonating-google/

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“We cannot trust” Intel and Via’s chip-based crypto: FreeBSD developers

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“The revelations are having a direct effect on the way FreeBSD will use hardware-based random number generators to seed the data used to ensure cryptographic systems can’t be easily broken by adversaries. Specifically, ‘RDRAND’ and ‘Padlock’—RNGs provided by Intel and Via respectively—will no longer be the sources FreeBSD uses to directly feed random numbers into the /dev/random engine used to generate random data in Unix-based operating systems. Instead, it will be possible to use the pseudo random output of RDRAND and Padlock to seed /dev/random only after it has passed through a separate RNG algorithm known as ‘Yarrow.'”

http://arstechnica.com/security/2013/12/we-cannot-trust-intel-and-vias-chip-based-crypto-freebsd-developers-say/

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NSA Sent Undercover Agents to Spy on ‘World of Warcraft’

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“The National Security Agency has been monitoring online games including World of Warcraft, Second Life and video games on Xbox Live, sometimes even using undercover agents disguised as trolls or orcs.  This is the latest revelation to come from documents leaked by former NSA contractor Edward Snowden, as first reported by The New York Times, ProPublica and The Guardian on Monday.  Since at least 2007, the NSA and its sister British spy agency the GCHQ (Government Communications Headquarters) have worried that terrorists might use online video games to secretly plan attacks, drive fundraising efforts or simply communicate on unmonitored channels.”

http://mashable.com/2013/12/09/nsa-gchq-world-of-warcraft-games/

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Stanford Seminar – BTC: Bitcoin, a New Value Chain in China

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“BTC: Bitcoin, a New Value Chain in China -Bobby C. Lee, BTC China.  Topics in International Technology Management: ‘New Value Chains and the Rise of Open Innovation in Asia.’ This series examines the impact of new technologies on industry value chains. Focus is placed on Silicon Valley-Asia connections and on the processes of open innovation that are co-evolving with the new value chains. Lectures feature distinguished speakers from industry and government.”

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Bill Bonner: Our Visit to Miss Brazil…

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Bill-Bonner2

“We see far more long-term opportunity in higher-growth overseas markets where stocks are currently ‘on sale.’  We say that not because we know anything about the future, but we know something about the past. Based on history, stocks at today’s valuations cannot be trusted to deliver decent rates of return. You want to buy low, and sell high. Not buy high and try to sell higher. That’s not how the game works (at least not over the long run).”

http://www.bonnerandpartners.com/our-visit-to-miss-brazil/

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