Uncategorized Archives - Page 195 of 276

Are More Than Half of All Bitcoin Trades Fake?

Bitcoin represents 40% of the $1 trillion outstanding crypto assets, according to Forbes’ director of data and analytics. “An estimated 46 million adult Americans already own it according to New York Digital Investment Group…”

“But can you trust what your crypto exchange or e-brokerage reports about trading in the most important digital currency?”
One of the most common criticisms of bitcoin is pervasive wash trading (a form of fake volume) and poor surveillance across exchanges. The U.S. Commodity Futures Trading Commission defines wash trading as “entering into, or purporting to enter into, transactions to give the appearance that purchases and sales have been made, without incurring market risk or changing the trader’s market position.” The reason why some traders engage in wash trading is to inflate the trading volume of an asset to give the appearance of rising popularity. In some cases trading bots execute these wash trades in tokens, increasing volume, while at the same time insiders reinforce the activity with bullish remarks, driving up the price in what is effectively a pump and dump scheme. Wash trading also benefits exchanges because it allows them to appear to have more volume than they actually do, potentially encouraging more legitimate trading.

There is no universally accepted method of calculating bitcoin daily volume, even among the industry’s most reputable research firms. For instance, as of this writing, CoinMarketCap puts the latest 24-hour trading of bitcoin at $32 billion, CoinGecko at $27 billion, Nomics at $57 billion and Messari at $5 billion….

As part of Forbes research into the crypto ecosystem using 2021 data, we ranked the 60 best exchanges in March. More recently we conducted a deeper-dive into the bitcoin trading markets…. Our study evaluated 157 crypto exchanges across the world. Here are our main findings:

– More than half of all reported trading volume is likely to be fake or non-economic. Forbes estimates the global daily bitcoin volume for the industry was $128 billion on June 14. That is 51% less than the $262 billion one would get by taking the sum of self-reported volume from multiple sources….

– The biggest problem areas regarding fake volume are firms that tout big volume but operate with little or no regulatory oversight that would make their figures more credible, notably Binance, MEXC Global and Bybit. Altogether, the lesser regulated exchanges in our study account for approximately $89 billion of the true volume (they claim $217 billion).

Forbes adds that their report “builds on top of the important work done by other digital asset researchers such as Bitwise, which estimated in a March 2019 white paper that 95% of CoinMarketCap’s bitcoin trading volume was fake and/or non-economic.”

Their article includes some other interesting findings, including an observation that Tether “continues to be a dominant player in the crypto trading economy, especially when it comes to trades against bitcoin. Its current market capitalization is $68 billion, despite questions about its reserves.”

Thanks to Slashdot reader rrconan for sharing the article…

Read more of this story at Slashdot.

29 Aug

Are Plants ‘Intelligent’?

Long-time Slashdot reader Dr_Ish writes: It is not too common for the world of academic philosophy to be changed by a new discovery, or innovation. Perhaps the last time this happened in a major way can be traced back to Turing’s famous (1950) “Computational Machinery and Intelligence” paper “Mind,” where Turing proposed that computational systems could exhibit mind-like properties. However, it appears to be in the process of happening again.

In a series of recent papers and a book that was published last week, philosopher Prof. Paco Calvo from the University of Murcia, has made a compelling case that plants exhibit cognitive properties, such as memory, planning, intelligence and perhaps even numerical abilities… His book, Calvo, P. with Lawrence, N. “Planta Sapiens: The New Science of Plant Intelligence was published in the UK last week. It will appear in North America in March next year.

From the Guardian’s review of the book:
Calvo writes that intelligence is “not quite as special as we like to think”. He argues that it’s time to accept that other organisms, even drastically different ones, may be capable of it….

In the course of his book, Calvo describes many experiments that reveal plants’ remarkable range, including the way they communicate with others nearby using “chemical talk”, a language encoded in about 1,700 volatile organic compounds…. Other studies show that some plants retain a memory of where the sun will rise, in order to turn their leaves towards the first rays. They store this knowledge — an internal model of what the sun is going to do — for several days, even when kept in total darkness. The conclusion must be that they constantly collect information, processing and retaining it in order to “make predictions, learn, and even plan ahead”.

Read more of this story at Slashdot.

29 Aug

Soon Electric Vehicles Could Charge Faster Than Your iPhone

The Washington Post shares a little-acknowledged downside to electric cars: recharging takes “upward of 15 to 30 minutes.”

But scientists are already working on improvements:

In a report released this week, government researchers said they have found a way to charge electric car batteries up to 90 percent in just 10 minutes. The method is likely five years away from making its way into the market, scientists said, but would mark a fundamental shift. “The goal is to get very, very close to [times] you would see at the gas pump,” said Eric Dufek, a lead author of the study and scientist at the Idaho National Laboratory, a research center run by the Department of Energy….

At issue is the delicate balance of trying to charge an electric vehicle battery quicker, but not doing it so fast that a rapid charge does long-term damage to the battery or plays a role in causing them to explode. Charging electric batteries fast can cause damage, reducing the battery’s life span and performance, scientists said. “You’ve had batteries when you first got it, they were great, but after a couple years or a few hundred charge cycles, they don’t perform as well,” said Eric D. Wachsman, director of the Maryland Energy Innovation Institute, an energy research organization at the University of Maryland. To try to solve this, Dufek and his team used machine learning to figure out how batteries age when charging fast. Their algorithm was trained to analyze 20,000 to 30,000 data points which indicated how well the battery was charging and whether it was aging or degrading….

Wachsman said the new research is helpful for the field. “Not too fast, not too slow,” he said of Dufek’s charging approach. “It’s just right in that Goldilocks [zone].” But the bigger benefit, he said, would be if this method spurs car companies to make electric vehicles with smaller batteries, since they’d now have batteries that could be charged quicker and allow consumers to feel less worried about stopping periodically to get a quick recharge.

“Smaller batteries are cheaper cars,” he said.

Read more of this story at Slashdot.

28 Aug

DOJ in Early Stages of Drafting Possible Antitrust Suit Against Apple

Justice Department lawyers are in the early stages of drafting a potential antitrust complaint against Apple, Politico reported Friday, citing a person with direct knowledge of the matter — a sign that a long-running investigation may be nearing a decision point and a suit could be coming soon. From the report: Various groups of prosecutors inside DOJ are assembling the pieces for a potential lawsuit, the individual said, adding that the department’s antitrust division hopes to file suit by the end of the year. Still, the Justice Department has made no decisions whether or when to sue Apple, the world’s most valuable public company, cautioned that person and one other familiar with the probe — and it’s still possible no case will be filed. Both were granted anonymity to discuss a confidential investigation.

Read more of this story at Slashdot.

27 Aug

Psilocybin Therapy Sharply Reduces Excessive Drinking, Small Study Shows

A small study on the therapeutic effects of using psychedelics to treat alcohol use disorder found that just two doses of psilocybin magic mushrooms paired with psychotherapy led to an 83 percent decline in heavy drinking among the participants. Those given a placebo reduced their alcohol intake by 51 percent. From a report: By the end of the eight-month trial, nearly half of those who received psilocybin had stopped drinking entirely compared with about a quarter of those given the placebo, according to the researchers. The study, published Wednesday in JAMA Psychiatry, is the latest in a cascade of new research exploring the benefits of mind-altering compounds to treat a range of mental health problems, from depression, anxiety and post-traumatic stress disorder to the existential dread experienced by the terminally ill.

Although most psychedelics remain illegal under federal law, the Food and Drug Administration is weighing potential therapeutic uses for compounds like psilocybin, LSD and MDMA, the drug better known as Ecstasy. Dr. Michael Bogenschutz, director at NYU Langone Center for Psychedelic Medicine and the study’s lead investigator, said the findings offered hope for the nearly 15 million Americans who struggle with excessive drinking — roughly 5 percent of all adults. Excessive alcohol use kills an estimated 140,000 people each year.

Read more of this story at Slashdot.

27 Aug

Twilio Hackers Breached Over 130 Organizations During Months-Long Hacking Spree

The hackers that breached Twilio earlier this month also compromised more than 130 other organizations during their hacking spree that netted the credentials of close to 10,000 employees. TechCrunch: Twilio’s recent network intrusion allowed the hackers to access the data of 125 Twilio customers and companies — including end-to-end encrypted messaging app Signal — after tricking employees into handing over their corporate login credentials and two-factor codes from SMS phishing messages that purported to come from Twilio’s IT department. At the time, TechCrunch learned of phishing pages impersonating other companies, including a U.S. internet company, an IT outsourcing company and a customer service provider, but the scale of the campaign remained unclear.

Now, cybersecurity company Group-IB says the attack on Twilio was part of a wider campaign by the hacking group it’s calling “0ktapus,” a reference to how the hackers predominantly target organizations that use Okta as a single sign-on provider. Group-IB, which launched an investigation after one of its customers was targeted by a linked phishing attack, said in findings shared with TechCrunch that the vast majority of the targeted companies are headquartered in the U.S. or have U.S.-based staff. The attackers have stolen at least 9,931 user credentials since March, according to Group-IB’s findings, with more than half containing captured multi-factor authentication codes used to access a company’s network.

Read more of this story at Slashdot.

27 Aug

China Deploys Rain-Seeding Drones To End Drought in Sichuan

China is using two massive drones to seed rainclouds in Sichuan province to try to end a devastating drought that has choked power output and disrupted supply chains of global giants like Apple and Tesla. From a report: The China Meteorological Administration launched drones in northern and southeastern Sichuan on Thursday morning, and the aircraft will eventually cover an area of 6,000 square kilometers in operations lasting through Monday, state-owned CCTV reported. Seeding works by dropping an ice-forming agent like silver iodide into a cloud that already contains ample moisture. Rain droplets gather around the agent, gaining weight until they begin to fall. China has a long history of using the technology to water crop fields, cool blistering cities and make sure skies are clear for events like the Olympics.

Read more of this story at Slashdot.

26 Aug

Google Tracks 39 Types of Personal Data, Apple Tracks 12

New research claims that of five major Big Tech firms, Google tracks more private data about users than any other — and Apple tracks the least. AppleInsider reports: Apple has previously introduced App Tracking Transparency specifically to protect the privacy of users from other companies. However, a new report says that Apple is also avoiding doing any more tracking itself than is needed to run its services. According to StockApps.com, Apple “is the most privacy-conscious firm out there.” “Apple only stores the information that is necessary to maintain users’ accounts,” it continues. “This is because their website is not as reliant on advertising revenue as are Google, Twitter, and Facebook.”

The StockApps.com report does not list what it describes as the “data points” that Big Tech firms collect for every user. However, it says they include location details, browser history, activity on third-party websites, and in Google’s case, also emails in Gmail. It also doesn’t detail its methodology, but does say that it used marketing firm digitalinformationworld to investigate Apple, Amazon, Facebook, Google, and Twitter. Of these five, Google reportedly tracks 39 separate data points per user, while Apple tracks only 12. Unexpectedly, Facebook is stated as tracking only 14 data points, while Amazon tracks 23, and Twitter tracks 24.

Read more of this story at Slashdot.

26 Aug

MyFitnessPal Paywalls Barcode Scanner That Made Counting Calories Easy

“MyFitnessPal is obviously looking to maximize profits, but if the popular r/loseit subreddit is any indication, many users may consider switching to competing apps like Cronometer, Loseit, or Macros over this loss.”