Thursday Afternoon Coin Clarity Check Up: Late Friday Edition
You can probably take a couple cracks at why this edition is running a little late – not only in observance of our great day dedicated to turkey cutting, known as Thanksgiving, but then the 12-16 hours of bloat (or “itis” in some circles) that has to run its course, before the human being has digested enough of its overtaken caloric stores in order for stomach acid levels and such can return to more-or-less regular cycles. So anyway, enough about why our celebrations of over-eating and the excessive consumption of alcohol are great – let’s talk about what is making America truly great again: bitcoin!
So, Let’s Get Down to Brass Tacks: BTC Likely to Rest Above $8000.
The price of bitcoin remains steadily above $8000, helping to establish credence to earlier predictions by well-known financial analysts that predicted the coin “flooring” around $8000, perhaps even surpassing that in the near future. Bitcoin enthusiasm continues to remain at all-time highs; Wall Street can’t help but to lure itself into what it has frequently has been referred to as a “Ponzi Scheme” by major financial players, for a number of years. The gain in jobs in the blockchain sector for even mid-level ($100 million – $1,000,000 dollars) corporations can’t keep their eyes away from it; wondering what all the buzz is about. A new poll demonstrated that a mere 14% of mid-size business managers had no plans to adopt blockchain technology at all – a clear swing in bitcoin’s favor as to only a year ago, when the majority of such business managers flatly rejected the idea as a whole.
Beware the Botnets, for They Shall/Might Inherit the Earth
There are reports of rapid growth in a sector that we at Coin Clarity are excited to hear more about in the future, which is the collaboration or synthesis of artificial intelligence with blockchain technology. There are already rogue bots (more commonly referred to as “botnets”), that freely roam the internet doing thing: from the biological equivalent of acting like a prokaryotic cell that doesn’t have much on an effect on anything, to advanced “data-jacking” malware that can encrypt your hard drive and demand payment (sometimes in bitcoin, sometimes in credit cards) to the address of a hacker (who may or may not exist in the first place). For example, one particular fraud bot net has been reported to make over a million dollars daily.
The one thing that botnets all share is common in that they have something of an ability to control their own behavior, and if this feature were combined with breakthroughs in artificial intelligence and blockchain technology, well, then the world might be turned into one of those Terminator-type scenarios and at that point, we will have to make those final coding instructions to determine if such great powers are ultimately used for good or evil. Before that point, which may or may not happen after the minting of the last bitcoin, cybersecurity expects warn about a more likely scenario: your computer’s resources being unknowingly harvest by botnet use. It is its not a bad idea to give your computer a complete scan with a well-trusted virus checker. Somebody could use your CPUs to mine Dogecoin right now (though that is highly, highly unlikely)!
Also in the News
- File under, “Doh!” Some hacker made off with over $30-million in the USD-backed currency Tether, or more specifically USDT. The company responsible for the bungle has already issued a press release admitting that even at the hands of unscrupulous, malicious actors, the fault was indeed their own due to slight (yet highly exploitable bugs) in the USDT “treasury wallet.” Will the USDT still be pegged to the dollar? Its captains will have to absorb any such loss incurred by the hack in order for it to remain so. Bitcoin even managed to crash a short-lived $31 million due to the incident. Long story short: now may not be the best time to invest in Tether.
- In a story to be filed under “bizarre,” the director of the Blockchain Technology Laboratory of Edinburgh, Scotland, recently announced plans to launch his own coin, PressCoin, directed at having an effect of reducing the amount of “fake news” spread across the internet. The idea sounds all and well if you are in the business of shuttering fake news, but the problem remains, which news is actually fake, and which people are actually real? Perhaps the blockchain can be a revolutionary mechanism to somehow keep track of the “truthiness” of reporters and/or news agencies. In any case, the recently-opened ICO has the ultimate hopes of connecting news organizations with reporters and investigative journalists around the world, which can be a great leap forward for the transmission of sensitive and/or inter-global reporting.
- Want a Forbes-approved way to measure the potential scamminess of an ICO you are considering investing in? Head Start hopes to achieve exactly that using a novel system of crowd wisdom to help predict whether an ICO is going to succeed. We have several questions: like what are their definitions of success, how long of a time frame are they talking about, etc., but until now the concept sounds much more useful than that of sports betting or event prediction, as they are dealing with the ICO market directly (in which there are millions of more dollars at stake).