The Almighty Buck

Bitcoin Jumps Another 10% in 24 Hours, Sets New Record at $19,000 (arstechnica.com) 125

An anonymous reader quotes Ars Technica: Bitcoin's price set a new record on Saturday as the virtual currency rose above $19,000 for the first time on the Bitstamp exchange. The gains came just hours after the currency crossed the $18,000 mark. Bitcoin's value has doubled over the last three weeks, and it's up more than 20-fold over the last year.

Bitcoin's value keeps rising despite a growing chorus of experts who say the currency value is an unsustainable bubble. One CNBC survey this week found that 80 percent of Wall Street economists and market strategists saw bitcoin's rise as a bubble, compared to just two percent who said the currency's value was justified. Another survey reported by The Wall Street Journal this week found that 51 out of 53 economists surveyed thought bitcoin's price was an unsustainable bubble.

Less than a month ago, Bitcoin was selling for $8,000.
China

China Will Spend $3.3 Billion to Research Molten Salt Nuclear-Powered Drones (scmp.com) 162

Long-time Slashdot reader WindBourne tipped us off to some news from The South China Morning Post: China is to spend 22 billion yuan (US$3.3 billion) trying to perfect a form of technology largely discarded in the cold war which could produce a safer but more powerful form of nuclear energy. The cash is to develop two "molten salt" reactors in the Gobi Desert in northern China. Researchers hope that if they can solve a number of technical problems the reactors will lead to a range of applications, including nuclear-powered warships and drones. The technology, in theory, can create more heat and power than existing forms of nuclear reactors that use uranium, while producing only one thousandth of the radioactive waste. It also has the advantage for China of using thorium as its main fuel. China has some of the world's largest reserves of the metal...

The reactors use molten salt rather than water as a coolant, allowing them to create temperatures of over 800 degrees Celsius, nearly three times the heat produced by a commercial nuclear plant fuelled with uranium. The superhot air has the potential to drive turbines and jet engines and in theory keep a bomber flying at supersonic speed for days.

One Beijing researcher says these drones "would serve as a platform for surveillance, communication or weapon delivery to deter nuclear and other threats from hostile countries." He asked not to be named, but provided one more advantage for a nuclear-powered drone flying at high-altitudes over the ocean.

"It will also have more public acceptance. If an accident happens, it crashes into the sea."
Bitcoin

Feds Moving Quickly To Cash in on Seized Bitcoin, Now Worth $8.4 Million (arstechnica.com) 141

A federal judge in Utah has agreed to let the US government sell off a seized cache of over 513 bitcoins (BTC) and 512 Bitcoin Cash (BCH). At current prices, that would yield approximately $8.4 million for the bitcoins and nearly $1 million for the BCH. From a report: In a court filing, prosecutors noted that due to the volatility of the Bitcoin market, both coins risk losing value. Both the BTC and the BCH have already been transferred to government-controlled wallets. The new round of seized digital currency belonged to a Utah man named Aaron Shamo, whom prosecutors say led a multimillion-dollar ring of counterfeit pharmaceuticals, including oxycodone and alprazolam that were sold on Dark Web marketplaces. Shamo was arrested over a year ago -- his trial has not yet been scheduled. On Tuesday, US District Judge Dale Kimball allowed the sale to proceed. Once sold, the money would go to an account held at the Treasury Executive Office for Asset Forfeiture.
Google

Google Is Using Light Beam Tech To Connect Rural India To the Internet (techcrunch.com) 66

Google is preparing to use light beams to bring rural areas of the planet online after it announced to a planned rollout in India. From a report: The firm is working with a telecom operator in Indian state Andhra Pradesh, home to over 50 million people, to use Free Space Optical Communications (FSOC), a technology that uses beams of light to deliver high-speed, high-capacity connectivity over long distances. Now partner AP State FiberNet will introduce 2,000 FSOC links starting from January to add additional support to its network backbone in the state. The Google project is aimed at "critical gaps to major access points, like cell-towers and WiFi hotspots, that support thousands of people," Google said. The initiative ties into a government initiative to connect 12 million households to the internet by 2019, the U.S. firm added.
Crime

DOJ Confirms Uber Is Being Investigated For Criminal Behavior (arstechnica.com) 34

A newly released letter from the Department of Justice has formally acknowledged that federal prosecutors have an open criminal investigation into Uber. Ars Technica reports: Late last month, as part of the proceedings in the high-profile and ongoing Waymo v. Uber trade secrets lawsuit, U.S. District Judge William Alsup said that on November 22 he had received a letter from San Francisco-based federal prosecutors. It is very unusual for a judge in a civil case to be apprised of a pending criminal investigation involving one of the litigants. In a separate November 28 letter sent to Judge Alsup, Acting U.S. Attorney Alex Tse asked that the first letter not be made public. The judge unsealed both letters on Wednesday. The first letter was signed by two prosecutors, Matthew Parrella and Amie Rooney. Those attorneys are assigned to the Computer Hacking and Intellectual Property (CHIP) Unit at the United States Attorney's Office in San Jose. [T]he letter could mean Uber and/or its current or former employees may be under investigation for possible crimes under the Computer Fraud and Abuse Act, a longstanding anti-hacking law.
America Online

PSA: AIM Will Be Discontinued Tomorrow (fortune.com) 105

Cutting_Crew writes: Along with Yahoo Messenger, MSN Messenger and ICQ, I used AIM extensively (without an AOL subscription of course). AIM will finally come to a halt on December 15th, 2017, as reported a few months ago and explained in AOL fashion over on their website. I remember using AIM to keep in touch with friends, co-workers and yes, even tried dating back in the day using the "looking for love" feature not only available to AOL subscribers but also extended to AIM users as well. Any memories you want to share? Speak now, or forever hold your peace.
United States

The Trump Administration Just Voted To Repeal the US Government's Net Neutrality Rules (recode.net) 585

The Federal Communications Commission voted on Thursday to dismantle landmark rules regulating the businesses that connect consumers to the internet, granting broadband companies power to potentially reshape Americans' online experiences. The agency scrapped so-called net neutrality regulations that prohibited broadband providers from blocking websites or charging for higher-quality service or certain content. The federal government will also no longer regulate high-speed internet delivery as if it were a utility, like phone services. From a report: Under the leadership of Chairman Ajit Pai -- and with only the backing of the agency's Republican members -- the repeal newly frees telecom companies from federal regulation, unravels a signature accomplishment of the Obama administration and shifts the responsibility of overseeing the web to another federal agency that some critics see as too weak to be effective. In practice, it means the U.S. government no longer will have rules on its books that require internet providers to treat all web traffic equally. The likes of AT&T and Verizon will be limited in some ways -- they can face penalties if they try to undermine their rivals, for example -- but they won't be subject to preemptive, bright-line restrictions on how they manage their networks. Meanwhile, the FCC's repeal will open the door for broadband providers to charge third parties, like tech giants, for faster delivery of their web content.
IT

Internet Traffic To Major Tech Firms Mysteriously Rerouted To Russia (securityweek.com) 105

wiredmikey writes: Internet traffic to some of the world's largest tech firms was briefly rerouted to Russia earlier this week in what appeared to be a Border Gateway Protocol (BGP) attack. Internet monitoring service BGPmon noticed that 80 IP prefixes for organizations such as Google, Microsoft, Apple, Facebook, NTT Communications, Twitch and Riot Games had been announced by a Russian Autonomous System (AS).

It happened twice on Tuesday and each time it only lasted for roughly three minutes. The first event took place between 04:43 and 04:46 UTC, and the second between 07:07 and 07:10 UTC. Despite being short-lived, BGPmon said the incidents were significant, including due to the fact that the announcements were picked up by several peers and some large ISPs, such as Hurricane Electric and Zayo in the U.S., Telstra in Australia, and NORDUnet, which is a joint project of several Nordic countries. The incident is rather suspicious, as the prefixes that were affected are all high profile destinations, as well as several more specific prefixes that aren't normally seen on the Internet.

Businesses

Disney Makes Deal for 21st Century Fox, Reshaping Entertainment Landscape (nytimes.com) 169

Disney is going all in for its upcoming fight with Netflix and other streaming giants. The Walt Disney Company said Thursday that it had reached a deal to buy most of the assets of 21st Century Fox, the conglomerate controlled by Rupert Murdoch, in an all-stock transaction valued at roughly $52.4 billion. From a report: To complete the integration, a legacy-defining task, Robert A. Iger, Disney's chief executive, agreed to renew his contract for a fourth time, delaying retirement from July 2019 to the end of 2021. While the merger still requires approval by antitrust regulators -- and the Justice Department recently moved to block a big media company from becoming even bigger -- the once unthinkable acquisition promises to reshape Hollywood and Silicon Valley. It is the biggest counterattack from a traditional media company against the tech giants that have aggressively moved into the entertainment business. Disney now has enough muscle to become a true competitor to Netflix, Apple, Amazon, Google and Facebook in the fast-growing realm of online video. Alternative source: Variety.
Software

T-Mobile Is Becoming a Cable Company (engadget.com) 92

T-Mobile has revealed that it's launching a TV service in 2018, and that is has acquired Layer3 TV (a company that integrates TV, streaming and social networking) to make this happen. The company thinks people are ditching cable due to the providers, not TV itself. Engadget reports: It claims that it can "uncarrier" TV the way it did with wireless service, and has already targeted a few areas it thinks it can fix: it doesn't like the years-long contracts, bloated bundles, outdated tech and poor customer service that are staples of TV service in the U.S. T-Mobile hasn't gone into detail about the functionality of the service yet. How will it be delivered? How much will it cost? Where will it be available? And will this affect the company's free Netflix offer? This is more a declaration of intent than a concrete roadmap, so it's far from certain that the company will live up to its promises. Ultimately, the move represents a big bet on T-Mobile's part: that people like TV and are cutting the cord based on a disdain for the companies, not the service. There's a degree of truth to that when many Americans are all too familiar with paying ever-increasing rates to get hundreds of channels they don't watch. However, there's no guarantee that it'll work in an era when many people (particularly younger people) are more likely to use Netflix, YouTube or a streaming TV service like Sling TV.
The Almighty Buck

Patreon Scraps New Service Fee, Apologizes To Users (theverge.com) 65

Patreon has decided to halt its plans to add a service fee to patrons' pledges, a proposed update that angered many users. "We're going to press pause," CEO Jack Conte tells The Verge. "Folks have been adamant about the problems with the new system, and so basically, we have to solve those problems first." The company plans to work with creators on a plan that will solve issues with the current payment system, but won't create major new problems in their stead. From the report: Conte published a blog post laying out the core problems, alongside an apology. "Many of you lost patrons, and you lost income. No apology will make up for that, but nevertheless, I'm sorry," it reads. "We recognize that we need to be better at involving you more deeply and earlier in these kinds of decisions and product changes. Additionally, we need to give you a more flexible product and platform to allow you to own the way you run your memberships. I know it will take a long time for us to earn back your trust. But we are utterly devoted to your success and to getting you sustainable, reliable income for being a creator."

Conte says that any new system will need to take the popularity of small pledges into account, and preserve the benefits of aggregation. It will also need to give artists more autonomy, rather than announcing a sweeping overall change directly to users. "The overwhelming sentiment was that we overstepped our bounds" with the non-negotiable fee, he says. "I agree, we messed that up. We put ourselves between the creator and their fans and we basically told them how to run their business, and that's not okay." Webcomic creator Jeph Jacques previously quoted Conte as saying Patreon "absolutely fucked up that rollout."

AI

Google To Open AI Center In China Despite Search Ban (bbc.com) 38

An anonymous reader quotes a report from BBC: Google is deepening its push into artificial intelligence (AI) by opening a research center in China, even though its search services remain blocked in the country. Google said the facility would be the first its kind in Asia and would aim to employ local talent. In a blog post on the company's website, Google said the new research center was an important part of its mission as an "AI first company." "Whether a breakthrough occurs in Silicon Valley, Beijing or anywhere else, [AI] has the potential to make everyone's life better for the entire world," said Fei-Fei Li, chief scientist at Google Cloud AI and Machine Learning. The research center, which joins similar facilities in London, New York, Toronto and Zurich, will be run by a small team from its existing office in Beijing. The tech giant operates two offices in China, with roughly half of its 600 employees working on global products, company spokesperson Taj Meadows told the AFP news agency. But Google's search engine and a number of other services are banned in China. The country has imposed increasingly strict rules on foreign companies over the past year, including new censorship restrictions.
Security

Old Crypto Vulnerability Hits Major Tech Firms (securityweek.com) 32

wiredmikey writes: A team of researchers has revived an old crypto vulnerability and determined that it affects the products of several major vendors and a significant number of the world's top websites. The attack/exploit method against a Transport Layer Security (TLS) vulnerability now has a name, a logo and a website. It has been dubbed ROBOT (Return Of Bleichenbacher's Oracle Threat) and, as the name suggests, it's related to an attack method discovered by Daniel Bleichenbacher back in 1998. ROBOT allows an attacker to obtain the RSA key necessary to decrypt TLS traffic under certain conditions. While proof-of-concept (PoC) code will only be made available after affected organizations have had a chance to patch their systems, the researchers have published some additional details. Researchers have made available an online tool that can be used to test public HTTPS servers. An analysis showed that at least 27 of the top 100 Alexa websites, including Facebook and PayPal, were affected.
Businesses

Net Neutrality Protests Move Online, Yet Big Tech Is Quiet (nytimes.com) 71

The New York Times: Protests to preserve net neutrality, or rules that ensure equal access to the internet, migrated online on Tuesday, with numerous online companies posting calls on their sites for action to stop a vote later this week. Reddit, Etsy and Kickstarter were among the sites warning that the proposal at the Federal Communications Commission to roll back so-called net neutrality rules would fundamentally change the way the internet is experienced. Kickstarter, the crowdfunding site, cleared its entire home screen for a sparse white screen reading "Defend Net Neutrality" in large letters. Reddit, the popular online message board, pushed in multiple ways on its site for keeping the rules, including a pop-up box on its home screen. But the online protests also highlighted how the biggest tech companies, such as Facebook and Google, have taken a back seat in the debate about protecting net neutrality (Editor's note: the link may be paywalled; syndicated source), rules that prohibit internet service providers like AT&T and Comcast from blocking or slowing sites or for charging people or companies for faster speeds of particular sites. For the most part, the large tech companies did not engage in the protest on Tuesday. In the past, the companies have played a leading role in supporting the rules.
The Almighty Buck

The Silicon Valley Paradox: One In Four People Are At Risk of Hunger (theguardian.com) 367

Zorro shares a report from The Guardian: One in four people in Silicon Valley are at risk of hunger, researchers at the Second Harvest food bank have found. Using hundreds of community interviews and data modeling, a new study suggests that 26.8% of the population -- almost 720,000 people -- qualify as "food insecure" based on risk factors such as missing meals, relying on food banks or food stamps, borrowing money for food, or neglecting bills and rent in order to buy groceries. Nearly a quarter are families with children. "We call it the Silicon Valley paradox," says Steve Brennan, the food bank's marketing director. "As the economy gets better we seem to be serving more people." Since the recession, Second Harvest has seen demand spike by 46%. The bank is at the center of the Silicon Valley boom -- both literally and figuratively. It sits just half a mile from Cisco's headquarters and counts Facebook's Sheryl Sandberg among its major donors. But the need it serves is exacerbated by this industry's wealth; as high-paying tech firms move in, the cost of living rises for everyone else.

The scale of the problem becomes apparent on a visit to Second Harvest, the only food bank serving Silicon Valley and one of the largest in the country. In any given month it provides meals for 257,000 people -- 66m pounds of food last year. Because poverty is often shrouded in shame, their clients' situations can come as a surprise. "Often we think of somebody visibly hungry, the traditional homeless person," Brennan said. "But this study is putting light on the non-traditional homeless: people living in their car or a garage, working people who have to choose between rent and food, people without access to a kitchen."

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