Dispelling the Myth That Bitcoin Proponents Want a Cashless Society

Dispelling the Myth That Bitcoin Proponents Want a Cashless Society

Bitcoin and a great number of other cryptocurrencies are electronic versions of currency. Many people falsely assume that crypto proponents are for a cashless society and this is certainly not the case. If we removed the central banks’ printing fiasco and the inflationary practices from cash, we all know that cash is great for anonymity …
The post Dispelling the Myth That Bitcoin Proponents Want a Cashless Society appeared first on Bitcoin News. 1000000+ haber arşivini içeren tarihe göre düzenlenmiş en son haberler ve tarihler Cryptocurrencies. Dünyanın kripto para birimleri hakkında ne söylediğini okumak için buraya tıklayın. Image: Volodymyr Hryshchenko, ZDNet, TwitterAfter earlier today US law enforcement charged three individuals for the recent Twitter hack, with the help of court There has been growing interest in cryptocurrencies since Bitcoin captured the imagination of people. Image caption Gash and Emily McKerrell are pissed off that few companies bother to retort With university levels, years in employment and formative ye

Dispelling the Myth That Bitcoin Proponents Want a Cashless Society

Bitcoin and a great number of other cryptocurrencies are electronic versions of currency. Many people falsely assume that crypto proponents are for a cashless society and this is certainly not the case.

If we removed the central banks’ printing fiasco and the inflationary practices from cash, we all know that cash is great for anonymity and fungibility. But the nation-states and central banking cabal are in charge of the fiat game and the monetary system today does come with serious manipulation and inflation.

Most crypto supporters, just because they support an electronic currency, do not support the removal of cash money. But there is little anyone can do to stop the government from going cashless.

Now we all know that cash is great (besides the inflationary aspects), but we also know that cryptocurrencies are even better. Crypto transactions like bitcoin (BTC) do not have to be electronic every time someone transacts.

With cryptos like bitcoin, we can create all kinds of bearer bond instruments. A digital asset can be hidden in mnemonic phrase and most seeds are based on 12, 18, or 24-word phrases that are tied to their private key(s).

The use of mnemonics, or ‘memoria technica,’ is derived from the era of the ancient Greeks when Aristotle and Plato philosophized about certain types of logic. The photo below is a depiction of the Knuckle mnemonic, which represents the number of days in each month of the Gregorian Calendar.

Any amount of crypto, like a billion dollars worth of crypto assets, for instance, can be stored in a mnemonic.

This means you can keep a billion dollars hidden in a book, or even by memory if you have a decent photographic memory. Bitcoin can be printed on paper, metal, plastic, and people can create all types of cash instruments.

Now just like gold, a bundle of cash can be quite cumbersome to carry. You cannot travel lightly with a billion dollars worth of cash in a few bags. You also have to be vigilant, protective, and someone can take your bundles of cash like a mugger or even law enforcement. For instance, the U.S. agency Homeland Security seized $2 billion in cash from travelers during the course of six years at U.S. airports.

But think about what I just said. You can store any amount of money on a piece of paper. On a small square of aluminum. You can write down 12-words on a piece of paper and hand a family member tens of thousands of dollars— no questions asked.

No need for the duffle bags of loot, you can simply leverage a mnemonic or a piece of paper.

Hiding crypto is extremely easy and someone can even do it by leveraging steganographic tools. Literally hiding a million dollars in plain sight. Steganography is the art of concealing images, messages, files, or videos. The practice of obscuring messages in this fashion was first recorded in 440 BC.

So in many ways, cryptocurrencies are an advanced form of cash and you are just not aware of all the possibilities if you think crypto people are “anti-cash.” This is simply not true.

To a great degree, digital currencies are simply a better form of money and many people just haven’t figured that out yet. And that’s ok we have plenty of time to teach and they have plenty of time to listen. But it’s simply not true that crypto advocates are helping the global elite create a cashless society. Digital currency supporters can create all kinds of free market-based cash instruments with ease.

What do you think about the fact that cryptocurrency supporters can easily create bearer bond instruments? Let us know in the comments below.

The post Dispelling the Myth That Bitcoin Proponents Want a Cashless Society appeared first on Bitcoin News.

Source: cryptomoneyteam.co

Author: By TeamMMG

Cryptocurrencies haberleri tarihe göre arşivle

Cryptocurrencies haberleri tarihe göre arşivle

Crypto Haber Bülteni Al

Source: www.btcnewz.com

How the FBI tracked down the Twitter hackers

How the FBI tracked down the Twitter hackers

After earlier today US law enforcement charged three individuals for the recent Twitter hack, with the help of court documents released by the DOJ, ZDNet was able to piece together a timeline of the hack, and how US investigators tracked down the three suspected hackers.

The article below uses data from three indictments published today by the DOJ against:

According to court documents, the entire hack appears to have begun on May 3, when Clark, a teen from Tampa, but living in California, gained access to a portion of Twitter’s network.


Here, the timeline gets murky and it is unclear what happened between May 3 and July 15, the day of the actual hack, but it appears that Clark wasn’t immediately able to pivot from his initial entry point to the Twitter admin tool that he later used to take over accounts.

However, reporting from the New York Times days after the Twitter hack suggests Clarke initially gained access to one of Twitter’s internal Slack workspaces, and not to Twitter itself.

NYT reporters, citing sources from the hacking community, said the hacker found credentials for one of Twitter’s tech support tools pinned to one of the company’s Slack channels.

Images of this tool, which allowed Twitter employees to control all facets of a Twitter account, later leaked online on the day of the hack.


However, the credentials for this tool weren’t enough to access the Twitter backend.

In a Twitter blog post detailing the company’s investigation into the hack, Twitter said accounts for this administrative backend were protected by two-factor authentication (2FA).

It is unclear how much time it took Clark to do it, but the same Twitter investigation says the hacker used “a phone spear phishing attack” to trick some of its employees and gain access to their accounts, and “getting through [Twitter’s] two-factor protections.”

According to Twitter, this happened on July 15, the same day of the hack.

Clark, who went on Discord by Kirk#5270, didn’t wait around to be detected, and according to Discord chats obtained by the FBI, the hacker contacted two other individuals to help him monetize this access.

Chat logs included in court documents showed Clark (Discord user “Kirk#5270”) approaching two other users from the Discord channel of OGUsers, a forum dedicated to hackers selling and buying social media accounts.

In chat logs, Clark approached two other hackers (Fazeli as Discord user “Rolex#037” and Sheppard as Discord user “ever so anxious#0001”) and claimed to work at Twitter.

He proved his claims by modifying the settings of an account owned by Fazeli (Rolex#037) and also sold Fazeli access to the @foreign Twitter account.


Clarke then followed up by selling Sheppard access to multiple short-form Twitter accounts, such as @xx, @dark, @vampire, @obinna, and @drug.


As Clark convinced the other two of his level of access, the three struck a deal to post ads on the OGUsers forum to promote Clark’s ability to hijack Twitter accounts.



Following the posting of these ads, it is believed that multiple people bought access to Twitter accounts. In a recorded message posted on YouTube by the Executive Office for United States Attorneys, investigators said they are still looking into multiple users who participated in the hack.

It is believed that one of these parties is responsible for buying access to celebrity verified Twitter accounts on July 15, and posting a cryptocurrency scam message.

The message, spotted on accounts belonging to Barrack Obama, Joe Biden, Bill Gates, Elon Musk, Jeff Bezos, Apple, Uber, Kanye West, Kim Kardashian, Floyd Mayweather, Michael Bloomberg, and others, asked users to send Bitcoin to several addresses.


Court documents say hackers operating wallets used in this scam received 12.83 bitcoin, or around $117,000. A subsequent investigation also revealed that cryptocurrency exchange Coinbase took matters in its own hands on the day of the hack to block transactions to the scam addresses, eventually preventing another $280,000 from being sent to the scammers.

It’s at this point that the hack became visible to everyone, including Twitter’s staff, who intervened to block verified Twitter accounts from tweeting while they kicked Clark out of their network.

Twitter’s subsequent investigation discovered that Clark interacted with 130 accounts while he had access to the Twitter admin tool, initiated a password reset for 45, and accessed private messages for 36.

The day following the hack was also when Twitter filed a formal criminal complaint with authorities, and the FBI and Secret Service started an investigation.

Per court documents, the FBI used data shared on social media and by news outlets to get chat logs and user details from Discord.

Since some of the hacker ads were posted on OGUsers, the FBI also used a copy of the OGUsers forum database that leaked online in April this year after the forum got hacked. This database contained details on registered forum users, such as emails and IP addresses, but also private messages.

Authorities, with the help of the IRS, also obtained data from Coinbase about the Bitcoin addresses involved in the hacks, and addresses used and mentioned by the three hackers in the past in Discord chats and OGUsers forum posts.

Correlating data from the three sources, the FBI was able to track hacker identities on the three sites, and link them to email and IP addresses.

For example, authorities tracked Fazili down after he linked his Discord username from his OGUsers page, an obvious operational security (OpSec) mistake.


Fazili also made multiple other mistakes in hiding his identity. For starters, he used the [email protected] address to register an account on the OGUsers forum and the [email protected] email address to hijack the @foreign Twitter account.

He also used the same two email addresses to register Coinbase accounts, which he later verified with a photo of his driver’s license.

Furthermore, Fazili also used his home connection to access accounts on the three sites, leaving his home IP address in connection logs on all three services — Discord, Coinbase, and OGUsers.

The same goes for Sheppard (ever so anxious#0001), who went on OGUsers as Chaewon. Investigators said they were able to connect Sheppard’s Discord user with his OGUsers persona thanks to the ad he posted on the site on the day of the hack, but they also got confirmation going through the OGUsers leaked database, where they found Chaewon buying a video game username with a Bitcoin address that was connected to addresses used on the day of the Twitter hack.


Just like in Fazili’s case, Sheppard managed accounts at Coinbase, where he, too, used his real-world driver’s license to verify multiple accounts.

Authorities didn’t link Clark directly to the Kirk#5270 Discord user, but details shared today by different US government sources suggest he’s the same individual.

First, Hillsborough State Attorney Andrew Warren claimed the 17-year-old Tampa teen (Clark) they arrested today was the “mastermind” of the entire hack — the role that Kirk#5270 played in the entire scheme.

Second, the Sheppard indictment reveals the FBI executed a search warrant against “Juvenile #1” on July 21, at a home in the Northern District of California.

In the subsequent interrogation, the juvenile admitted to being “Kirk#5270” on Discord.


Today, in a press release from the Northern District of California, authorities said they referred the same juvenile to the State Attorney for the 13th Judicial District (Hillsborough County) in Tampa, Florida.

The same Florida office announced today the hacker’s arrest and revealed his real name as Graham Ivan Clark — in what appears to be a blunder, as his name wasn’t supposed to be made public, being underage.

Ironically, the same Sheppard indictment also reveals that Clark and Sheppard discussed turning themselves to law enforcement following their public Twitter hacks; however, they didn’t have enough time to think it through, as authorities tracked down Clark just six days later after the hack.

Source: bitcoinslate.com

Author: admin

CAA’s Articulate – Cryptocurrency poses a threat to govt’s monopoly

CAA’s Articulate – Cryptocurrency poses a threat to govt’s monopoly

  • There has been growing interest in cryptocurrencies since Bitcoin captured the imagination of people.
  • With Facebook in the process of creating its own cryptocurrency (Libra), governments are watching this development as it threatens their monopoly over issuing money.
  • Cryptocurrencies are e-currencies that are based on decentralized technology and operate on a distributed public ledger called the blockchain.
  • Blockchain records all transactions updated and held by currency holders. It is considered to be a part of the virtual currency group.
  • It uses cryptography technology that keeps the transactions secure and authentic.
  • Such cryptocurrencies exist and are transacted over dedicated blockchain-based networks that are open to the common public.
  • The technology allows people to make payments and store money digitally without having to use their names or a financial intermediary such as banks.
  • Cryptocurrency units such as Bitcoin are created through a ‘mining’ process which involves using a computer to solve numerical problems that generate coins.
  • Bitcoin was one of the first cryptocurrencies to be launched and was created in 2009.
  • It has been adopted by international trading firms for use in lending, raising funds for other cryptoprojects.
  • It facilitates easier cross-border payments.
  • Anonymity & Illegal activities:
    • Regulators fear that they can be used to circumvent capital controls or launder money, for illegal purchases or other criminal activity.
    • They are used in illicit transactions over the “dark web”.
  • The highly speculative nature:
    • The cryptocurrency traded at a peak of $20,000 in mid-2018 before crashing to $3,000 by the end of the year.
    • It is not a stable currency that is not backed by any central institution.
    • Systemic concerns:
      • The present structure of the global financial system puts central banks at its center, making them an integral part of economies.
        • This happens through the sovereign’s monopoly on issuing fiat currency.
        • Cryptocurrencies could destabilize or undermine the control of central banks on their respective economies.
        • The RBI circular of 2018 banned banks from dealing with virtual currency exchanges and individual holder.
          • Later, the circular was later struck down by the Supreme Court.
            • A blanket ban on cryptocurrencies could push the entire system underground and will defeat the purpose.
            • It is now imperative on authorities to find the right “regulatory balance” on cryptocurrencies.
            • Monopoly of govt.:
              • Central banks on behalf of the government across the world issue paper notes and therefore create money and assign paper notes their value.
              • It derives its value via government fiat, which is why the paper currency is also called fiat currency.
            • Value:
              • Any currency has its value if it can be exchanged for goods or services and if it is a store of value (it can maintain purchasing power over time).
                • No monopoly:
                  • In the case of cryptocurrencies, the process of creating the currency is not monopolized as anyone can create it through the mining process.
                • Cryptocurrencies, in contrast to fiat currencies, derive their value from exchanges.
                • The extent of involvement of the community in terms of demand and supply of cryptocurrencies helps determine their value.
                • Source: currentaffairs.academy

                  Author: Post author:CA Academy

                  Job-hunting: 'I observe in each diagram - few companies retort'

                  Job-hunting: ‘I observe in each diagram – few companies retort’

                  Nick and Emily McKerrell

                  With university levels, years in employment and formative years on their facet, Gash and Emily McKerrell are examples of correct how complicated the jobs market has become.

                  No longer most attention-grabbing are they struggling to search out work, few employers even bother to retort to their job applications. To hiss they’re pissed off is an underestimation.

                  Emily, 28, is on furlough from her recruitment job at a legislation firm in Manchester. She is receiving 80% of her wage, but is buying for work to complement her profits – and there would possibly be also the uncertainty of when and if she will be able to return.

                  “To this level I’ve utilized for 30 roles. I got rejections from three, and by no formulation heard help from any individual else. I’ve utilized for every thing – gross sales jobs, cashiers, shop work, restaurants, every thing.

                  “I utilized for one role and inside of 15 minutes got a rejection. How can they even study my utility in that time?”

                  Or no longer it’s a the same abilities for husband Gash, also 28, who has a stage in horticultural science. He’s been applying for roles since March and says he is engrossing to work in any sector at any stage, as bringing in some money is the pleasurable thing.

                  “Or no longer it’s roughly frustrating to no longer hear help in any appreciate. Or no longer it’s correct enjoy silence,” he talked about. “Create they need correct workers or no longer? Although I am over-smartly-behaved for some positions, I would possibly well per chance be a terribly correct worker, so rent me. Hire me!”

                  If the funds don’t give a boost to soon, they’ll also fair must plod help into Emily’s fogeys’ dwelling.

                  The couple are proof of what economists had been announcing for some time: cases for job hunters over the last few months have arguably been the worse for decades.

                  Even properly smartly-behaved candidates are finding that they’re applying for a disquieted preference of roles, most regularly many pay grades below what they’re inclined to.

                  Employment recruiters document seeing up to ten times the conventional preference of applicants for positions compared with earlier than the pandemic and fewer jobs are being marketed.

                  Within the worse hit areas of the UK, 40-plus unemployed folk are chasing every job. The Institute for Employment Studies (IES) says are living job vacancies now stand at correct 433,000 – lower than half of the number in February.

                  IES director Tony Wilson describes it as the “toughest jobs market in a technology”.

                  As an illustration, prognosis of a complete bunch of thousands of CVs at on-line jobs situation Certainly, suggests managers in the onerous-hit UK hospitality and gross sales sectors are extra and extra applying for low paid, entry stage jobs in assorted industries, such is the dearth of positions.

                  The next graphs, primarily primarily based on Certainly info, illustrate on-line job searches by managers in the hospitality sector and what sectors they’re taking a behold at. It covers the lift from Jan-July 2019 to Jan-July 2020.

                  Certainly, which has bigger than 14 million CVs on its books, stumbled on a 73% lift in bar managers taking a behold at labourer jobs in construction between January-July year-on-year.

                  There became a 70% upward thrust in restaurant managers taking a behold at customer assistant jobs over the the same interval, and a 36% lift in gross sales managers taking a behold at riding jobs.

                  Certainly economist Jack Kennedy talked about: ‘Fewer job vacancies and rising unemployment has precipitated a squeeze for jobs with many skilled candidates in sectors hardest hit by the down flip clicking on jobs out of doorways of their occupation.”

                  The scenario for graduate jobs is terribly complicated. In 2020, graduate jobs have dried up thrice sooner than normal main to increased competition for roles.

                  The abilities of some employers highlights correct how fierce the competition for jobs is. Warwickshire-primarily primarily based engineering firm Lontra is opening a brand new manufacturing line in Tyseley, Birmingham and acquired an tremendous 15,000 applicants for 10 jobs marketed last week.

                  Chief Govt Steve Lindsey talked about he expected the engineering roles to draw a pair of hundred candidates and became “stunned” to behold the tall volume of applications.

                  “Or no longer it’s a reflection of the challenges obtainable, but also that manufacturing is an exhilarating sector to work in,” he talked about.

                  Practically all of applicants had been properly professional and from the Midlands feature, the set up there became a swathe of redundancies in the aerospace, motor, and transport sectors in contemporary months, including some 3,000 at Derby-primarily primarily based Rolls-Royce.

                  Mr Lindsey talked about there would possibly be a pool of folk with transferable abilities in the manufacturing sector.

                  “Folks are taking a behold to us as a improve firm which is increasing and I contain that’s crucial in these timid times,” he talked about.

                  For 28-year-mild Rebecca Priestley, from Bradford, changing into unemployed for the first time in her lifestyles became a giant shock.

                  For the last decade, she’s accomplished a 9-to-5 job in communications at a High Avenue monetary institution. Honest earlier than lockdown she became made redundant and has been looking out out for to search out the same roles in West Yorkshire ever since.

                  “Or no longer it’s the no longer shimmering when your next wage is going to be that is basically daunting,” she talked about. “I in actuality have not any misfortune going for a job in a restaurant, or stacking cupboards in the supermarket, but it no doubt would possibly well per chance be mountainous to encourage rising the talent feature I in actuality have slightly than being forced into doing something fully assorted.”

                  After months of filling in applications, Rebecca says the rejections are taking their toll. She’s even applying for unpaid internships to expand her abilities.

                  “Your psychological heath does safe a battering and it’s in actuality onerous sending the applications out and no longer hearing anything else help. With every utility that goes out the door it chips away at your self belief,” she talked about.

                  Her misfortune is that the job hunting is feature to become noteworthy extra competitive when the furlough diagram winds down in the autumn.

                  “There are going to be noteworthy extra redundancies. Or no longer it’s already dogs-eat-dogs and it’s miles most attention-grabbing going to safe worse,” she talked about.

                  Kate McCarthy-Booth’s Warrington-primarily primarily based employment company, McCarthy Recruitment, specialises in inserting folk in retail and hospitality jobs across the UK.

                  “Fairly than 50 applications per role, you are now hitting 500 to 600,” she says. “The ask is tall and likewise you gaze some folk who are applying for every role.”

                  She says some companies are scared about taking on any individual who’s over-professional on epic of “per chance they’ll also fair no longer be as palms on, or it’ll be a misfortune about will they retain very long time interval or is it correct a discontinue gap?”

                  She talked about it’s takes more than a number of money to put together folk, “and employers are thinking: will they correct plod away us at the tip of the year, when Covid is over?’

                  It will also, obviously, be in actuality certain for an employer, as there would possibly be a number of mountainous talent in the marketplace for the time being, she says.

                  For job-seekers, nonetheless, the future points to their hunt for work changing into even demoralising.

                  Source: newsbloghub.com

                  Dispelling the Myth That Bitcoin Proponents Want a Cashless Society

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