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  • 27.05.2019 | Top 5 Ways to Make Money During a Sideways or Bearish Crypto Market Trend




    Despite a pretty decent start to Q2 2019, it seems the cryptocurrency markets are going through some sideways trading momentum. That is not entirely surprising, as the gains sustained in April and May are quite steep. Despite the current sideways and sometimes bearish market trend, there are still good ways to make money with a bit of effort. The following tips are all worth taking into consideration. Shorting the Market at the Right Time Those cryptocurrency enthusiasts and traders who genuinely expect the bearish momentum to continue may want to look at shorting Bitcoin or altcoins. Numerous platforms provide such trading tools in a convenient manner. As this sideways momentum continues, it has become apparent Bitcoin is bouncing between different price ranges on a nearly daily basis. That is both promising and worrisome, depending on what one expects to do under the current market circumstances. Although there is good money to be made by shorting cryptocurrencies, the current market conditions might not necessarily make it too appealing. As the prices continue to hover near the same price points for all currencies, shorting Bitcoin or altcoins may prove to be somewhat difficult. A short-term short at the right time could make users some good money, but from a long-term perspective, it seems unlikely any major price crash will occur. One never knows how the markets will evolve in the coming days and weeks. Swing Trading Anyone with a basic understanding of technical analysis will see the merit of swing trading cryptocurrencies. Regardless of being in a bull or bear market, swing trading can always yield some profits if done correctly. This method relies on buying low, selling high, and repeating the same process over and over. Every market has its ups and downs throughout the day, thus taking advantage of all of those opportunities will require putting in a lot of effort and staring at charts for several hours. Identifying swing trade points is not overly difficult either. Using some basic indicators and looking up YouTube videos on basic trading patterns will get most traders and enthusiasts on their way to making some decent profits. Even when markets are in sideways trading motion, there are always market fluctuations to take advantage of on any given day.  As easy as it may sound on paper, there are still some risks involved with this trading strategy as a whole. Scalping for Small Profits Nearly everyone confronted with financial markets will have come across the term scalping by now. This method of trading tends to occur in every single market, both within and outside of the cryptocurrency industry. Even in a bear market, scalping is a good way to make small profits along the way. In fact, it is a method which can be used every single day, although profits are never guaranteed without putting in some effort and research first. For those who have a lot of free time on their hands, scalping might be worth exploring. It is a tedious process which can grate on one’s nerves quite quickly, however. Scalping with a trading bot might be a more plausible approach, as it takes care of everything on behalf of the user. Even so, these markets are still very volatile, thus a bad hourly candle can easily erode one’s total week’s profits in quick succession. Not a trading method for the faint of heart, for rather obvious reasons. Small-cap Coins can be Lucrative In the cryptocurrency world, there are thousands of different projects and currencies to be traded. A lot of good money can be made from the smaller markets which have not amassed to much as of yet. Small-cap currencies can often see some interesting price swings during a sideways or bearish market trend affecting the top markets. While no big money should be invested in small-cap coins, there is always a chance to make some money on a good day. A bit of a risky play yet traders should never invest money they can’t afford to lose. Explore Airdrops, Giveaways, and IEOs While there is not necessarily too much money to be made with airdrops and giveaways these days, it is still a “free” source of money worth looking into. Most airdrops require some social media interaction, thus setting up a dummy account is never a bad idea. Some projects give away a few dollars worth of tokens per airdrop or giveaway, thus they tend to add up rather nicely over time. Being able to trade these tokens or assets is a different matter altogether. Most of these offerings will not hit a major exchange for quite some time to come. Another option is to look into Initial Exchange Offerings. This business model has become increasingly popular in recent months. Regardless of what the overall market trend may be, there will usually be some sort of “token pump” once the asset gets listed on an exchange after the sale. Since most IEOs always tend to yield a profit for those early investors, there is some decent money to be made in that regard. How popular IEOs will be during a sideways or bear market, has yet to be determined. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency. Image(s): Shutterstock.com     https://quantsalus.com/faq/   ...

    Despite a pretty decent start to Q2 2019, it seems the cryptocurrency markets are going through some sideways trading momentum. That is not entirely surprising, as the gains sustained in April and May are quite steep. Despite the current sideways and sometimes bearish market trend, there are still good ways to make money with a bit of effort. The following tips are all worth taking into consideration.

    Shorting the Market at the Right Time

    Those cryptocurrency enthusiasts and traders who genuinely expect the bearish momentum to continue may want to look at shorting Bitcoin or altcoins. Numerous platforms provide such trading tools in a convenient manner. As this sideways momentum continues, it has become apparent Bitcoin is bouncing between different price ranges on a nearly daily basis. That is both promising and worrisome, depending on what one expects to do under the current market circumstances.

    Although there is good money to be made by shorting cryptocurrencies, the current market conditions might not necessarily make it too appealing. As the prices continue to hover near the same price points for all currencies, shorting Bitcoin or altcoins may prove to be somewhat difficult. A short-term short at the right time could make users some good money, but from a long-term perspective, it seems unlikely any major price crash will occur. One never knows how the markets will evolve in the coming days and weeks.

    Swing Trading

    Anyone with a basic understanding of technical analysis will see the merit of swing trading cryptocurrencies. Regardless of being in a bull or bear market, swing trading can always yield some profits if done correctly. This method relies on buying low, selling high, and repeating the same process over and over. Every market has its ups and downs throughout the day, thus taking advantage of all of those opportunities will require putting in a lot of effort and staring at charts for several hours.

    Identifying swing trade points is not overly difficult either. Using some basic indicators and looking up YouTube videos on basic trading patterns will get most traders and enthusiasts on their way to making some decent profits. Even when markets are in sideways trading motion, there are always market fluctuations to take advantage of on any given day.  As easy as it may sound on paper, there are still some risks involved with this trading strategy as a whole.

    Scalping for Small Profits

    Nearly everyone confronted with financial markets will have come across the term scalping by now. This method of trading tends to occur in every single market, both within and outside of the cryptocurrency industry. Even in a bear market, scalping is a good way to make small profits along the way. In fact, it is a method which can be used every single day, although profits are never guaranteed without putting in some effort and research first.

    For those who have a lot of free time on their hands, scalping might be worth exploring. It is a tedious process which can grate on one’s nerves quite quickly, however. Scalping with a trading bot might be a more plausible approach, as it takes care of everything on behalf of the user. Even so, these markets are still very volatile, thus a bad hourly candle can easily erode one’s total week’s profits in quick succession. Not a trading method for the faint of heart, for rather obvious reasons.

    Small-cap Coins can be Lucrative

    In the cryptocurrency world, there are thousands of different projects and currencies to be traded. A lot of good money can be made from the smaller markets which have not amassed to much as of yet. Small-cap currencies can often see some interesting price swings during a sideways or bearish market trend affecting the top markets. While no big money should be invested in small-cap coins, there is always a chance to make some money on a good day. A bit of a risky play yet traders should never invest money they can’t afford to lose.

    Explore Airdrops, Giveaways, and IEOs

    While there is not necessarily too much money to be made with airdrops and giveaways these days, it is still a “free” source of money worth looking into. Most airdrops require some social media interaction, thus setting up a dummy account is never a bad idea. Some projects give away a few dollars worth of tokens per airdrop or giveaway, thus they tend to add up rather nicely over time. Being able to trade these tokens or assets is a different matter altogether. Most of these offerings will not hit a major exchange for quite some time to come.

    Another option is to look into Initial Exchange Offerings. This business model has become increasingly popular in recent months. Regardless of what the overall market trend may be, there will usually be some sort of “token pump” once the asset gets listed on an exchange after the sale. Since most IEOs always tend to yield a profit for those early investors, there is some decent money to be made in that regard. How popular IEOs will be during a sideways or bear market, has yet to be determined.


    Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.

    Image(s): Shutterstock.com

     

     

    https://quantsalus.com/faq/

     


    27.05.2019 | Russia Prepares for Large-Scale Bitcoin Mining Operation Following Minery Launch




    With digital currency gaining in popularity worldwide, additional mining operations and farms have started to appear despite looming bans on the practice. Understanding The Ban While many see bans on crypto mining as a hindrance to entrepreneurship and the crypto space, in actuality, it’s an effort to protect and enhance cities, states, and countries’ natural, historic, cultural, and electrical resources. Back in March, a moratorium was enacted in Plattsburgh, New York, the first major U.S. city to pause any and all mining operations due to an operation that had nearly drained the city of its electrical resources, at the expense of the residents who were the ones paying for it. Plattsburgh’s ban stated that it would issue a penalty of up to $1,000/day on any firm, person, corporation, or other entity that established or ran a commercial cryptocurrency mining operation once the ban went into effect. Why Is Russia a ‘Hot Spot’ For Mining? For its part, Russia will soon become home to one of the largest legal mining operations in the world, located in Siberia. Earlier this year, the Bank of Russia, Russia’s central bank, offered to allow the mining of cryptocurrencies, but proposed that miners sell their coins outside the country. The first deputy governor of the bank emphasized the need to take a “taxation point of view” and consider how it can be controlled and reported. However, selling cryptocurrencies outside the country doesn’t remove the requirement that miners file and pay their taxes. One company, Minery, recently announced that it intends to establish five mining complexes with a total capacity of 55 megawatts on a 59,000 square foot site within the Irkutsk region. It has partnered with Bratsk Electric Grid Company JSC, a regional power supplier. The company is considered a ‘turnkey’ mining solution, providing all necessary hardware, installation, and configuration. In the event of any service needs or breakdowns, the company makes the necessary repairs on the spot. This type of operation comes in handy when engaging in contracts with cloud mining providers, mining pools, or third-party hosting platforms. Operating at the lowest electricity rates, it’s still considered legal in light of the policies proposed by the Russian Federation and Bank. Russia’s energy resources and climate make for some of the best conditions for crypto mining. Consequently, more than 1.5 million Russians have started to engage in solo mining (home mining). Doing so comes with great risks, as this method of operation tends to cause an annoyance and nuisance to those around, not to mention safety hazards. Oftentimes, these operations are operating illegally, and rather than providing value to communities, they are draining them. For example, many illegal mining farms are closed and those behind them are arrested. Why? Well, you have (1) individuals stealing electricity that belongs to a designated area and those who pay money for it, (2) the land and premises being used for other purposes at the expense of area residents, and (3) equipment being smuggled across state lines and international borders. “Having been mining since 2016, we have encountered restrictions [on] home mining, and came up with a solution in terms of scalability and legal operations,” says Ilya Bruman, co-founder and CEO of Minery. “The idea is to build a comprehensive infrastructure, providing highly-efficient, powerful, and a stable electricity supply for our investors, ensuring smooth operation of their mining businesses.” Under Russia’s proposed regulations, the majority of such businesses will become illegal. Minery is not among them. Staying Within The Volts The biggest issue with many of the mining operations that are later deemed illegal is that the electricity being used is done so without authorization—often draining cities and towns of this highly used and profitable resource. It’s even gone digital, in the case of cryptojacking malware which attacks computers and servers, draining their CPU power and resources. Minery’s mining complexes are located in several cities in the Irkutsk (Siberia) region – Bratsk, Irkutsk and Ust-Ilimsk. The local climate conditions – the average annual temperature is 28.4° Fahrenheit, or -2° Celsius – are optimal for miners’ heat transfer and cooling systems, which reduces hosting expenses. The project relies on renewable electricity from high-pressure hydroelectric power plants – the Bratsk, Irkutsk, and Ust-Ilimsk Hydroelectric Power Stations. The plants are located on the Angara River, which drains Lake Baikal – the largest freshwater lake in the world. To ensure optimal working conditions, any mining operation should reduce energy costs while maintaining the equipment itself. “This goal is achieved by placing mining facilities near the sources of the cheapest and most eco-friendly electricity – hydroelectric power stations,” says Alexei Paikin, co-founder and managing director of Minery. “This approach minimizes the cost of delivering electricity to the point of consumption.” Image(s): Shutterstock.com     ...

    With digital currency gaining in popularity worldwide, additional mining operations and farms have started to appear despite looming bans on the practice.

    Understanding The Ban

    While many see bans on crypto mining as a hindrance to entrepreneurship and the crypto space, in actuality, it’s an effort to protect and enhance cities, states, and countries’ natural, historic, cultural, and electrical resources.

    Back in March, a moratorium was enacted in Plattsburgh, New York, the first major U.S. city to pause any and all mining operations due to an operation that had nearly drained the city of its electrical resources, at the expense of the residents who were the ones paying for it. Plattsburgh’s ban stated that it would issue a penalty of up to $1,000/day on any firm, person, corporation, or other entity that established or ran a commercial cryptocurrency mining operation once the ban went into effect.

    Why Is Russia a ‘Hot Spot’ For Mining?

    For its part, Russia will soon become home to one of the largest legal mining operations in the world, located in Siberia. Earlier this year, the Bank of Russia, Russia’s central bank, offered to allow the mining of cryptocurrencies, but proposed that miners sell their coins outside the country. The first deputy governor of the bank emphasized the need to take a “taxation point of view” and consider how it can be controlled and reported. However, selling cryptocurrencies outside the country doesn’t remove the requirement that miners file and pay their taxes.

    One company, Minery, recently announced that it intends to establish five mining complexes with a total capacity of 55 megawatts on a 59,000 square foot site within the Irkutsk region. It has partnered with Bratsk Electric Grid Company JSC, a regional power supplier.

    The company is considered a ‘turnkey’ mining solution, providing all necessary hardware, installation, and configuration. In the event of any service needs or breakdowns, the company makes the necessary repairs on the spot. This type of operation comes in handy when engaging in contracts with cloud mining providers, mining pools, or third-party hosting platforms. Operating at the lowest electricity rates, it’s still considered legal in light of the policies proposed by the Russian Federation and Bank.

    Russia’s energy resources and climate make for some of the best conditions for crypto mining. Consequently, more than 1.5 million Russians have started to engage in solo mining (home mining). Doing so comes with great risks, as this method of operation tends to cause an annoyance and nuisance to those around, not to mention safety hazards. Oftentimes, these operations are operating illegally, and rather than providing value to communities, they are draining them.

    For example, many illegal mining farms are closed and those behind them are arrested. Why? Well, you have (1) individuals stealing electricity that belongs to a designated area and those who pay money for it, (2) the land and premises being used for other purposes at the expense of area residents, and (3) equipment being smuggled across state lines and international borders.

    “Having been mining since 2016, we have encountered restrictions [on] home mining, and came up with a solution in terms of scalability and legal operations,” says Ilya Bruman, co-founder and CEO of Minery. “The idea is to build a comprehensive infrastructure, providing highly-efficient, powerful, and a stable electricity supply for our investors, ensuring smooth operation of their mining businesses.”

    Under Russia’s proposed regulations, the majority of such businesses will become illegal. Minery is not among them.

    Staying Within The Volts

    The biggest issue with many of the mining operations that are later deemed illegal is that the electricity being used is done so without authorization—often draining cities and towns of this highly used and profitable resource. It’s even gone digital, in the case of cryptojacking malware which attacks computers and servers, draining their CPU power and resources.

    Minery’s mining complexes are located in several cities in the Irkutsk (Siberia) region – Bratsk, Irkutsk and Ust-Ilimsk. The local climate conditions – the average annual temperature is 28.4° Fahrenheit, or -2° Celsius – are optimal for miners’ heat transfer and cooling systems, which reduces hosting expenses. The project relies on renewable electricity from high-pressure hydroelectric power plants – the Bratsk, Irkutsk, and Ust-Ilimsk Hydroelectric Power Stations. The plants are located on the Angara River, which drains Lake Baikal – the largest freshwater lake in the world.

    To ensure optimal working conditions, any mining operation should reduce energy costs while maintaining the equipment itself. “This goal is achieved by placing mining facilities near the sources of the cheapest and most eco-friendly electricity – hydroelectric power stations,” says Alexei Paikin, co-founder and managing director of Minery. “This approach minimizes the cost of delivering electricity to the point of consumption.”

    Image(s): Shutterstock.com

     

     


    27.05.2019 | NSA’s EternalBlue Exploit Cripples US City Infrastructures With Ease




    Not too many people should be surprised to learn the EternalBlue hacking exploit is still making the rounds. After becoming a successful tool to deliver WannaCry and NotPetya ransomware, it now seems the exploit is being used to target major cities’ infrastructure. Criminals are having a field day with this exploit. Considering how it was initially developed by the NSA, one could go as far as claiming how justice is being served. EternalBlue Continues to Make Headlines Over the past few years, the stolen NSA hacking tools have made quite an impact. While most people will know this exploit for its involvement in ransomware delivery, the NSA’s favorite tool is capable of wreaking a lot more havoc. More specifically, it seems the same tool is now being used to successfully cripple American cities and their IT infrastructure. Not the development people had hoped for, but it is evident this trend will not go away automatically either. Ever since the Shadow Brokers offered EternalBlue to everyone with an internet connection, the tool has become a lot more popular. Regardless of how one might feel about the NSA developing powerful hacking tools, it appears the agency has checked a lot of the right boxes regarding this particular exploit. So much even that criminals continue to find new use cases to put the technology to good use. The first major incident – in this regard – linked to EternalBlue comes in the form of what happened in Baltimore. Not only has the city’s IT infrastructure struggled since a ransomware attack three weeks ago, but it also seems getting the systems up and running again is a monumental task. Several of the city’s services have been disrupted in the process, which is only to be expected from such a targeted attack. Whereas the Baltimore story has made a fair few headlines, it is not the only US city struggling at this time. Very similar attacks are targeting vulnerable American cities ranging anywhere from Pennsylvania to Texas. Rest assured this is only the first wave of attacks involving the NSA’s home-grown hacking tool. It seems very likely more and more cities will be targeted in the US, as well as in other countries around the world. As terrible as these attacks may be, one also has to admit it was a matter of time until something like this happened. Surveillance critics and privacy advocates have never been too amused by the tools developed by the NSA, either officially or unofficially. As such, it now seems their own creation has come to cause a lot of havoc in the agency’s own backyard. Karma is a very interesting concept, albeit these attacks will need to be nipped in the bud sooner rather than later. Any tool designed to create or exploit backdoors in a computer system will find its way to the black market sooner or later. While not everyone can steal tools from the NSA by any means, one has to keep in mind there are a lot of crafty developers among cybercriminals as well. Some even build tools just to sell them and rake in profits along the way. EternalBlue is the current proverbial flavor of the month, but there will be other variants for many years to come.     https://quantsalus.com/faq/   ...

    Not too many people should be surprised to learn the EternalBlue hacking exploit is still making the rounds. After becoming a successful tool to deliver WannaCry and NotPetya ransomware, it now seems the exploit is being used to target major cities’ infrastructure. Criminals are having a field day with this exploit. Considering how it was initially developed by the NSA, one could go as far as claiming how justice is being served.

    EternalBlue Continues to Make Headlines

    Over the past few years, the stolen NSA hacking tools have made quite an impact. While most people will know this exploit for its involvement in ransomware delivery, the NSA’s favorite tool is capable of wreaking a lot more havoc. More specifically, it seems the same tool is now being used to successfully cripple American cities and their IT infrastructure. Not the development people had hoped for, but it is evident this trend will not go away automatically either.

    Ever since the Shadow Brokers offered EternalBlue to everyone with an internet connection, the tool has become a lot more popular. Regardless of how one might feel about the NSA developing powerful hacking tools, it appears the agency has checked a lot of the right boxes regarding this particular exploit. So much even that criminals continue to find new use cases to put the technology to good use.

    The first major incident – in this regard – linked to EternalBlue comes in the form of what happened in Baltimore. Not only has the city’s IT infrastructure struggled since a ransomware attack three weeks ago, but it also seems getting the systems up and running again is a monumental task. Several of the city’s services have been disrupted in the process, which is only to be expected from such a targeted attack.

    Whereas the Baltimore story has made a fair few headlines, it is not the only US city struggling at this time. Very similar attacks are targeting vulnerable American cities ranging anywhere from Pennsylvania to Texas. Rest assured this is only the first wave of attacks involving the NSA’s home-grown hacking tool. It seems very likely more and more cities will be targeted in the US, as well as in other countries around the world.

    As terrible as these attacks may be, one also has to admit it was a matter of time until something like this happened. Surveillance critics and privacy advocates have never been too amused by the tools developed by the NSA, either officially or unofficially. As such, it now seems their own creation has come to cause a lot of havoc in the agency’s own backyard. Karma is a very interesting concept, albeit these attacks will need to be nipped in the bud sooner rather than later.

    Any tool designed to create or exploit backdoors in a computer system will find its way to the black market sooner or later. While not everyone can steal tools from the NSA by any means, one has to keep in mind there are a lot of crafty developers among cybercriminals as well. Some even build tools just to sell them and rake in profits along the way. EternalBlue is the current proverbial flavor of the month, but there will be other variants for many years to come.

     

     

    https://quantsalus.com/faq/

     


    27.05.2019 | Cryptopia’s Lack of a Backup Database can Cost Users Another $2 Million




    There is never a shortage of controversy in the cryptocurrency world. Following its hack earlier this year, there have been a lot of questions regarding Cryptopia and how things would move on from there. So far, it seems little to no real progress has been made, and things are even worse than initially assumed. In a recent reveal, it became apparent the company doesn’t even have a backup of its hacked database, as that is controlled by a third party. That third party is owed some money by the exchange as well. Cryptopia Woes Worsen Over TIme It is never good to see any cryptocurrency exchange go through a hack. In the case of New Zealand’s Cryptopia, said hack took place earlier in 2019. It is believed nearly $16m worth of funds has been stolen from the platform and its users. Recovering the funds has proven to be very difficult, if not entirely impossible. An official investigation is still ongoing, albeit the new information coming to the surface casts a dark shadow over the exchange and how it was run. Not a good sign for its customers, albeit it seems unlikely too many people hold out hope of getting their money back. While it is true Cryptopia was not a professional project in 2014 and the first few years after, it seems little has changed ever since. Despite noting major growth in 2017 and beyond, the exchange still had its own odd ways of handling crucial aspects of their core business model. The hack in early 2019 is the direct result of taking a seemingly casual approach to operating a cryptocurrency trading platform. Folding the company was the only logical option in March of 2019, although it did not amuse too many people. Even at this time, the company still allegedly owns tens of millions of dollars worth of assets. Liquidators are trying to gain access to all of the wallets and tally up the funds accordingly. After all, this money has yet to be distributed to the rightful account holders. It is a very tedious and time-consuming process, primarily because it is difficult to attribute the correct balances to its specific owner. This is another example of why Cryptopia was run in such a manner a hack was pretty much inevitable. To put this in perspective, the company itself doesn’t have a proper backup of its accounting database. Instead, that information is managed by a third-party service provider in Arizona. Recovering said information should be a breeze, yet it clearly isn’t. The Arizona company is terminating its services with the exchange and wants $2m in compensation as well. If the company is not paid accordingly, there is a genuine chance all of the necessary data will be lost forever. After all, the third-party is not responsible for maintaining this information if they are not compensated. A very uneasy situation is created which might take some time to resolve. It is evident this New Zealand exchange was run by a team which has made some unusual decisions. Most of those decisions have now come back to haunt the company and its users. Unfortunately, it will be those users who will be the biggest victims due to this mismanagement. Since the information necessary to compensate account holders is not even owned by the company getting hacked, one has to wonder why things were set up this way so many years ago. Letting third parties take care of everything is never a smart idea, especially in the cryptocurrency industry. For the time being, it remains to be seen how things will progress from here on out. After all, it seems unlikely Cryptopia will be of any help in this regard. Using the users’ funds to effectively foot the $2m bill for the Arizona company is not a valid option either. All of the affected users will almost have to hope for a major miracle, as they will not see their funds returned to them without it. While recovery efforts on the wallets are still ongoing, none of these attempts have been successful so far.     https://quantsalus.com/news/   ...

    There is never a shortage of controversy in the cryptocurrency world. Following its hack earlier this year, there have been a lot of questions regarding Cryptopia and how things would move on from there. So far, it seems little to no real progress has been made, and things are even worse than initially assumed. In a recent reveal, it became apparent the company doesn’t even have a backup of its hacked database, as that is controlled by a third party. That third party is owed some money by the exchange as well.

    Cryptopia Woes Worsen Over TIme

    It is never good to see any cryptocurrency exchange go through a hack. In the case of New Zealand’s Cryptopia, said hack took place earlier in 2019. It is believed nearly $16m worth of funds has been stolen from the platform and its users. Recovering the funds has proven to be very difficult, if not entirely impossible. An official investigation is still ongoing, albeit the new information coming to the surface casts a dark shadow over the exchange and how it was run. Not a good sign for its customers, albeit it seems unlikely too many people hold out hope of getting their money back.

    While it is true Cryptopia was not a professional project in 2014 and the first few years after, it seems little has changed ever since. Despite noting major growth in 2017 and beyond, the exchange still had its own odd ways of handling crucial aspects of their core business model. The hack in early 2019 is the direct result of taking a seemingly casual approach to operating a cryptocurrency trading platform. Folding the company was the only logical option in March of 2019, although it did not amuse too many people.

    Even at this time, the company still allegedly owns tens of millions of dollars worth of assets. Liquidators are trying to gain access to all of the wallets and tally up the funds accordingly. After all, this money has yet to be distributed to the rightful account holders. It is a very tedious and time-consuming process, primarily because it is difficult to attribute the correct balances to its specific owner. This is another example of why Cryptopia was run in such a manner a hack was pretty much inevitable.

    To put this in perspective, the company itself doesn’t have a proper backup of its accounting database. Instead, that information is managed by a third-party service provider in Arizona. Recovering said information should be a breeze, yet it clearly isn’t. The Arizona company is terminating its services with the exchange and wants $2m in compensation as well. If the company is not paid accordingly, there is a genuine chance all of the necessary data will be lost forever. After all, the third-party is not responsible for maintaining this information if they are not compensated. A very uneasy situation is created which might take some time to resolve.

    It is evident this New Zealand exchange was run by a team which has made some unusual decisions. Most of those decisions have now come back to haunt the company and its users. Unfortunately, it will be those users who will be the biggest victims due to this mismanagement. Since the information necessary to compensate account holders is not even owned by the company getting hacked, one has to wonder why things were set up this way so many years ago. Letting third parties take care of everything is never a smart idea, especially in the cryptocurrency industry.

    For the time being, it remains to be seen how things will progress from here on out. After all, it seems unlikely Cryptopia will be of any help in this regard. Using the users’ funds to effectively foot the $2m bill for the Arizona company is not a valid option either. All of the affected users will almost have to hope for a major miracle, as they will not see their funds returned to them without it. While recovery efforts on the wallets are still ongoing, none of these attempts have been successful so far.

     

     

    https://quantsalus.com/news/

     


    27.05.2019 | Anti-establishment parties scored big in EU elections since bloc became ‘problem & not solution’




    Nationalist parties sailed to victory in the European Union elections as the bloc increasingly became out-of-touch with ordinary people, analysts and politicians told RT, saying that the EU has now turned into “a problem.” Exit polls show that right-wing and Euroskeptic parties posted significant gains in the European Parliament elections, which ended on Sunday. In France, the UK and Austria, nationalist parties even surged past their pro-EU rivals. The Greens and the Liberals performed well too. As a result, the pro-European bloc EPP and the Social-Democratic alliance S&D have now lost their combined majority. The defeat of the bloc’s business-as-usual parties “is really not surprising when we look at the bigger picture,” Uli Brueckner, a professor of European studies at Stanford University in Berlin, told RT. According to Brueckner, the election results present a serious challenge to Brussels’ narrative of a united, integrated Europe. “In the past, we had one consensus on the general narrative that European integration as such is good, because it brings peace, stability, prosperity, and we only disagree on certain ideological differences – about whether it’s clean enough, is it fair enough, is it pro-business.” Euroskeptic parties have shattered this consensus, Brueckner noted, adding that political movements across the continent now see the bloc “not as the solution [for Europe], but the problem.” The momentum against Europe’s establishment parties was certainly felt in France, where Marine Le Pen’s National Rally party narrowly beat President Emmanuel Macron’s centrist En Marche. Dennis Franceskin, a National Rally representative based in Washington, said that the success of Euroskeptic parties reveals growing dissatisfaction within the bloc. “The structure of the European Union is a failure,” Franceskin told RT. Many countries have realized now that the EU is not a solution, it’s actually a problem. The political rivalry between the growing Euroskeptic movement and the pro-Brussels bloc can be described as “common sense” versus “globalism,” Maximilian Krah, a politician who belongs to the Alternative for Germany (AfD), argued. Speaking about the electoral gains made by his own party, Krah accused his country’s political establishment of being impervious to the needs of ordinary Germans. “We have our roots in rural areas with ordinary people, and they have mass media and the big corporations,” he said. Similar anti-establishment sentiment can be found in the UK, where Nigel Farage’s Brexit Party received 31.6 percent of the votes, defeating the Conservatives by more than 20 points. The party’s electoral success can be attributed to the “highly-polarized” nature of politics in the UK right now, Francesco Rizzuto, a professor of European law at Edge Hill University, told RT. The Brexit Party offered voters an alternative to the traditional status quo, Rizzuto noted. “I think many people were fed up with the mess of the last two or three years. And especially those who want to leave the European Union, they certainly were very disappointed with the conservatives, Labour floundering around in Never-Never Land, and quite clearly Mr. Farage offered a very simple and straightforward message.”     https://quantsalus.com/contacts/   ...

    Nationalist parties sailed to victory in the European Union elections as the bloc increasingly became out-of-touch with ordinary people, analysts and politicians told RT, saying that the EU has now turned into “a problem.”

    Exit polls show that right-wing and Euroskeptic parties posted significant gains in the European Parliament elections, which ended on Sunday. In France, the UK and Austria, nationalist parties even surged past their pro-EU rivals. The Greens and the Liberals performed well too.

    As a result, the pro-European bloc EPP and the Social-Democratic alliance S&D have now lost their combined majority.

    The defeat of the bloc’s business-as-usual parties “is really not surprising when we look at the bigger picture,” Uli Brueckner, a professor of European studies at Stanford University in Berlin, told RT.

    According to Brueckner, the election results present a serious challenge to Brussels’ narrative of a united, integrated Europe.

    “In the past, we had one consensus on the general narrative that European integration as such is good, because it brings peace, stability, prosperity, and we only disagree on certain ideological differences – about whether it’s clean enough, is it fair enough, is it pro-business.”

    Euroskeptic parties have shattered this consensus, Brueckner noted, adding that political movements across the continent now see the bloc “not as the solution [for Europe], but the problem.”

    The momentum against Europe’s establishment parties was certainly felt in France, where Marine Le Pen’s National Rally party narrowly beat President Emmanuel Macron’s centrist En Marche.

    Dennis Franceskin, a National Rally representative based in Washington, said that the success of Euroskeptic parties reveals growing dissatisfaction within the bloc. “The structure of the European Union is a failure,” Franceskin told RT.

    Many countries have realized now that the EU is not a solution, it’s actually a problem.

    The political rivalry between the growing Euroskeptic movement and the pro-Brussels bloc can be described as “common sense” versus “globalism,” Maximilian Krah, a politician who belongs to the Alternative for Germany (AfD), argued.

    Speaking about the electoral gains made by his own party, Krah accused his country’s political establishment of being impervious to the needs of ordinary Germans. “We have our roots in rural areas with ordinary people, and they have mass media and the big corporations,” he said.

    Similar anti-establishment sentiment can be found in the UK, where Nigel Farage’s Brexit Party received 31.6 percent of the votes, defeating the Conservatives by more than 20 points. The party’s electoral success can be attributed to the “highly-polarized” nature of politics in the UK right now, Francesco Rizzuto, a professor of European law at Edge Hill University, told RT. The Brexit Party offered voters an alternative to the traditional status quo, Rizzuto noted.

    “I think many people were fed up with the mess of the last two or three years. And especially those who want to leave the European Union, they certainly were very disappointed with the conservatives, Labour floundering around in Never-Never Land, and quite clearly Mr. Farage offered a very simple and straightforward message.”

     

     

    https://quantsalus.com/contacts/

     



    26.05.2019 | 5 Key Facets of BitOasis Delisting Monero and Zcash




    It is not uncommon for cryptocurrency exchanges to add or remove specific cryptocurrencies. It is their prerogative to do so whenever they see fit. In the case of BitOasis, the company is removed both ZCash and Monero from its platform. That in itself is not the biggest concern, as the company is asking some very odd questions. The bigger question is whether or not this will impact either altcoin. A Surprise Delisting and Withdrawal Scheme Not too many people expected BitOasis to delist not one but two anonymous or privacy-oriented cryptocurrencies in rather quick succession. The decision to remove both ZCash and Monero will undoubtedly spark some big debates. Both currencies are appreciated by their respective communities, yet seemingly struggle to gain major traction in this day and age. Even so, the currencies will be gone as of May 31st. Users will need to exchange their balances to either AED or Bitcoin. For some unknown reason, users cannot withdraw in either ZEC or XMR, which could have a nefast impact on those currencies’ respective prices. A very odd decision, albeit it seems the exchange wants to track where this money is going. The odd Questions are Bothersome As if the delisting of both currencies isn’t strange enough, the company is also asking some very personal questions. They want users to explain the source of their funds, as well as the purpose of the purchased XMR and ZEC. Additionally, the external withdrawals of either currency will need to be explained as well. For some reason. BitOasis expects users to tell who the beneficiary was or why they receive said funds. Last but not least, the company wants to know if anyone purchased either XMR or SEC on behalf of third parties. Even if that were to be the case, there is nothing wrong with doing so. Up until this week, both Monero and ZCash were seemingly fine assets for this cryptocurrency exchange. However, that situation has come to change all of a sudden, without much of an explanation. A Very Short Timeline to Act Whereas most delisted coins can be exchanged or withdrawn for multiple weeks, BitOasis seemingly maintains an entirely different schedule. The company forces users to convert their balances before or on May 31, which is just under a week from today. Interestingly enough, the company never explains to balances which are not converted to either Bitcoin or AED at that time. Regulatory Pressure Could be a Factor Roughly two weeks ago, it became apparent BitOasis was looking to obtain a special license in the United Arab Emirates. In April, the company received preliminary approval, which was widely considered to be a prominent sign. After all, any trading platform which remains unlicensed and unregulated will not be welcomed with open arms by the local or neighboring governments. Keeping that information in mind, it seems plausible the delisting of both XMR and ZEC is part of gaining this license. Anonymous forms of money are a risk to existing financial systems, thus removing them is not an unlikely requirement. It remains to be seen if this angle has any merit, however, As the exchange never explained why both currencies are removed from the platform, any and all explanations remain on the table. The Potential Impact of this Decision In terms of trading volume, it is difficult to determine what role BitOasis plays for both XMR and ZEC. The company does not offer any public information, nor is it listed on the major coin tracking platforms. This seems to confirm the decision will not impact either market all that much in the near future. Additionally, both altcoins are traded on many other platforms, thus this removal should not make a big impact. However, this does create an interesting situation. It is not the first time privacy- and anonymity-oriented cryptocurrencies are removed from exchanges. A similar incident affected ZCash, Dash, and Monero in 2018 when Japan’s Coincheck decided t get rid of all of these markets. This was the result of pressure initiated by Japanese regulators. Other exchanges were quick to follow suit in that part of the world. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.     ...

    It is not uncommon for cryptocurrency exchanges to add or remove specific cryptocurrencies. It is their prerogative to do so whenever they see fit. In the case of BitOasis, the company is removed both ZCash and Monero from its platform. That in itself is not the biggest concern, as the company is asking some very odd questions. The bigger question is whether or not this will impact either altcoin.

    A Surprise Delisting and Withdrawal Scheme

    Not too many people expected BitOasis to delist not one but two anonymous or privacy-oriented cryptocurrencies in rather quick succession. The decision to remove both ZCash and Monero will undoubtedly spark some big debates. Both currencies are appreciated by their respective communities, yet seemingly struggle to gain major traction in this day and age.

    Even so, the currencies will be gone as of May 31st. Users will need to exchange their balances to either AED or Bitcoin. For some unknown reason, users cannot withdraw in either ZEC or XMR, which could have a nefast impact on those currencies’ respective prices. A very odd decision, albeit it seems the exchange wants to track where this money is going.

    The odd Questions are Bothersome

    As if the delisting of both currencies isn’t strange enough, the company is also asking some very personal questions. They want users to explain the source of their funds, as well as the purpose of the purchased XMR and ZEC. Additionally, the external withdrawals of either currency will need to be explained as well. For some reason. BitOasis expects users to tell who the beneficiary was or why they receive said funds.

    Last but not least, the company wants to know if anyone purchased either XMR or SEC on behalf of third parties. Even if that were to be the case, there is nothing wrong with doing so. Up until this week, both Monero and ZCash were seemingly fine assets for this cryptocurrency exchange. However, that situation has come to change all of a sudden, without much of an explanation.

    A Very Short Timeline to Act

    Whereas most delisted coins can be exchanged or withdrawn for multiple weeks, BitOasis seemingly maintains an entirely different schedule. The company forces users to convert their balances before or on May 31, which is just under a week from today. Interestingly enough, the company never explains to balances which are not converted to either Bitcoin or AED at that time.

    Regulatory Pressure Could be a Factor

    Roughly two weeks ago, it became apparent BitOasis was looking to obtain a special license in the United Arab Emirates. In April, the company received preliminary approval, which was widely considered to be a prominent sign. After all, any trading platform which remains unlicensed and unregulated will not be welcomed with open arms by the local or neighboring governments.

    Keeping that information in mind, it seems plausible the delisting of both XMR and ZEC is part of gaining this license. Anonymous forms of money are a risk to existing financial systems, thus removing them is not an unlikely requirement. It remains to be seen if this angle has any merit, however, As the exchange never explained why both currencies are removed from the platform, any and all explanations remain on the table.

    The Potential Impact of this Decision

    In terms of trading volume, it is difficult to determine what role BitOasis plays for both XMR and ZEC. The company does not offer any public information, nor is it listed on the major coin tracking platforms. This seems to confirm the decision will not impact either market all that much in the near future. Additionally, both altcoins are traded on many other platforms, thus this removal should not make a big impact.

    However, this does create an interesting situation. It is not the first time privacy- and anonymity-oriented cryptocurrencies are removed from exchanges. A similar incident affected ZCash, Dash, and Monero in 2018 when Japan’s Coincheck decided t get rid of all of these markets. This was the result of pressure initiated by Japanese regulators. Other exchanges were quick to follow suit in that part of the world.


    Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.

     

     


    26.05.2019 | Till Trump do they part: Top tech firms cut ties with Huawei following US trade blacklisting




    Last week, US President Donald Trump signed an executive order aimed at banning Chinese telecoms like Huawei from selling equipment to the US over an unacceptable risk to national security. Following the order, the US Department of Commerce announced the blacklisting of Huawei along with 70 of its affiliates. The step prevented US-based corporations from selling or transferring technology to Huawei without a license issued by the Bureau of Industry and Security (BIS). READ MORE: Who’s afraid of Huawei? Why Google’s ‘fatal blow’ may actually be a sign of desperation The harsh step has forced both foreign and US technology giants to halt their business transactions with the Chinese corporation to comply with the president’s order. RT looks at the companies that have opted to break up with Huawei. Google The American multinational technology company was the first to suspend its licenses and product-sharing agreements with the blacklisted Chinese corporation. Google, focused on internet-related services and products, cut its business deals with Huawei that involve the transfer of hardware and software. Google’s steps unavoidably deprives Huawei of access to Android operating system updates with its upcoming smartphones to be shut out of some Google apps. Intel, Qualcomm, Xilinx & Broadcom The Silicon Valley chip makers froze their supplies to Huawei following the US government’s announcement. The companies reportedly have told their employees that no new shipments would be made “until further notice.” Lumentum Holdings, which sells components to Huawei, announced plans to halt the deals with the Chinese firm. The company said that it was lowering its quarterly outlook since sales to Huawei totaled 18 percent of overall revenue in the latest quarter. Panasonic Japan's Panasonic has joined US firms in stepping away from Huawei in the wake of the ban. The corporation said it would stop supplying some components to the Chinese firm. Later, the company said it was scrutinizing whether its products break US restrictions on trading with Huawei, causing some confusion, as the latest claims contradict the previous ones. Miñrosoft The US technology company removed Huawei’s products from its retail stores as well as Azure Stack, one of its websites offering cloud gear. Miñrosoft may also cut ties with the Chinese corporation in the sphere of consumer electronics and B2B decisions. Vodafone The UK telecom group Vodafone announced plans to suspend pre-orders of Huawei 5G handsets due to an alleged security controversy involving the Chinese company. The step came shortly after British mobile network operator and internet service provider EE said it had “paused” the launch of Huawei's 5G phones. SoftBank, KDDI and NTT Japanese major mobile carriers SoftBank and KDDI announced plans to postpone sales of new Huawei smartphones. Another telecommunications company, NTT, said it would stop taking orders for the new Huawei handsets, despite previous pledges to launch a new high-end Huawei model in the summer. Amazon Japan The Japanese unit of the US e-commerce titan Amazon suspended direct online sales of Huawei products. The company still allows third-party vendors to sell devices, including smartphones, tablets and PCs produced by the Chinese company. ARM British chip designer ARM ordered its staff to suspend “all active contracts, support entitlements, and any pending engagements” with the Chinese tech firm.     ...

    Last week, US President Donald Trump signed an executive order aimed at banning Chinese telecoms like Huawei from selling equipment to the US over an unacceptable risk to national security.

    Following the order, the US Department of Commerce announced the blacklisting of Huawei along with 70 of its affiliates. The step prevented US-based corporations from selling or transferring technology to Huawei without a license issued by the Bureau of Industry and Security (BIS).

    READ MORE: Who’s afraid of Huawei? Why Google’s ‘fatal blow’ may actually be a sign of desperation

    The harsh step has forced both foreign and US technology giants to halt their business transactions with the Chinese corporation to comply with the president’s order. RT looks at the companies that have opted to break up with Huawei.

    Google

    The American multinational technology company was the first to suspend its licenses and product-sharing agreements with the blacklisted Chinese corporation. Google, focused on internet-related services and products, cut its business deals with Huawei that involve the transfer of hardware and software. Google’s steps unavoidably deprives Huawei of access to Android operating system updates with its upcoming smartphones to be shut out of some Google apps.

    Intel, Qualcomm, Xilinx & Broadcom

    The Silicon Valley chip makers froze their supplies to Huawei following the US government’s announcement. The companies reportedly have told their employees that no new shipments would be made “until further notice.”

    Lumentum Holdings, which sells components to Huawei, announced plans to halt the deals with the Chinese firm. The company said that it was lowering its quarterly outlook since sales to Huawei totaled 18 percent of overall revenue in the latest quarter.

    Panasonic

    Japan's Panasonic has joined US firms in stepping away from Huawei in the wake of the ban. The corporation said it would stop supplying some components to the Chinese firm. Later, the company said it was scrutinizing whether its products break US restrictions on trading with Huawei, causing some confusion, as the latest claims contradict the previous ones.

    Miñrosoft

    The US technology company removed Huawei’s products from its retail stores as well as Azure Stack, one of its websites offering cloud gear. Miñrosoft may also cut ties with the Chinese corporation in the sphere of consumer electronics and B2B decisions.

    Vodafone

    The UK telecom group Vodafone announced plans to suspend pre-orders of Huawei 5G handsets due to an alleged security controversy involving the Chinese company. The step came shortly after British mobile network operator and internet service provider EE said it had “paused” the launch of Huawei's 5G phones.

    SoftBank, KDDI and NTT

    Japanese major mobile carriers SoftBank and KDDI announced plans to postpone sales of new Huawei smartphones. Another telecommunications company, NTT, said it would stop taking orders for the new Huawei handsets, despite previous pledges to launch a new high-end Huawei model in the summer.

    Amazon Japan

    The Japanese unit of the US e-commerce titan Amazon suspended direct online sales of Huawei products. The company still allows third-party vendors to sell devices, including smartphones, tablets and PCs produced by the Chinese company.

    ARM

    British chip designer ARM ordered its staff to suspend “all active contracts, support entitlements, and any pending engagements” with the Chinese tech firm.

     

     


    26.05.2019 | This strange galaxy is defying the universe to travel towards the Milky Way (PHOTO)




    The universe is constantly expanding and stretching further afield, but the Hubble space telescope managed to catch one of the rare galaxies that’s defying the odds and actually moving closer to us. A stunning spiral galaxy called Messier 90, sitting about 60 million light-years away, is part of a huge cluster of around 1,200 star systems in the Virgo constellation. While the cluster in general is moving farther away from us, Messier 90 is heading in our direction, according to NASA. The incredible Hubble image was captured using a special camera on board the space telescope, comprised of four light detectors. Scientists were able to spot that it’s coming towards the Milky Way after studying the compressed wavelengths of light from the galaxy. Messier 90 was first spotted back in 1781 and contains about a trillion stars. The Messier 90 spiral galaxy © NASA, ESA, STScI, and V. Rubin (Carnegie Institution of Washington), D. Maoz (Tel Aviv University/Wise Observatory) and D. Fisher (University of Maryland)     ...

    The universe is constantly expanding and stretching further afield, but the Hubble space telescope managed to catch one of the rare galaxies that’s defying the odds and actually moving closer to us.

    A stunning spiral galaxy called Messier 90, sitting about 60 million light-years away, is part of a huge cluster of around 1,200 star systems in the Virgo constellation. While the cluster in general is moving farther away from us, Messier 90 is heading in our direction, according to NASA.

    The incredible Hubble image was captured using a special camera on board the space telescope, comprised of four light detectors. Scientists were able to spot that it’s coming towards the Milky Way after studying the compressed wavelengths of light from the galaxy.

    Messier 90 was first spotted back in 1781 and contains about a trillion stars.

    The Messier 90 spiral galaxy © NASA, ESA, STScI, and V. Rubin (Carnegie Institution of Washington), D. Maoz (Tel Aviv University/Wise Observatory) and D. Fisher (University of Maryland)

     

     


    26.05.2019 | Fasten your sickbags: Air taxis to fly passengers in many cities across the world by 2025




    Air taxis will offer services in a number of cities over the next six years, according to Oliver Walker-Jones, head of communications of German aviation startup Lilium. “We plan to start operations in several cities around the world by 2025, although in some locations the service will be launched earlier. There is a huge interest in our project from the city authorities, but we have not yet decided exactly where to begin providing our services,” he told RIA Novosti. Last week, the company revealed the design of its five-seat Lilium Jet electric aircraft. The vertical take-off and landing jet completed its maiden flight earlier this month. The price of "flights will be competitive compared to travel by means of other vehicles," according to Walker-Jones. “Our aircrafts are completely electric and do not produce CO2 emissions. When starting, there is noise, like from the engine start of a truck, but you will not hear it during flight,” he said. According to the representative, the air taxis are currently undergoing various certifications. Everything will be organized in such a way as to “not create obstacles for regular air traffic,” Walker-Jones said, noting that at first the jets will be controlled by pilots, but later switched to the unmanned mode. Lilium jets will practically become an alternative to long-distance trains and intercity buses. They are faster and more environmentally friendly than these types of transport and must be available 'on-demand,” said Walker-Jones. READ MORE: Top Russian automaker wants to build flying cars The Lilium Jet has no tail, no rudder, no propellers, no gearbox, and only a single moving part in the electric motors. The full-size prototype is powered by 36 all-electric jet engines. It is capable of traveling up to 300 kilometers per hour.     ...

    Air taxis will offer services in a number of cities over the next six years, according to Oliver Walker-Jones, head of communications of German aviation startup Lilium.

    “We plan to start operations in several cities around the world by 2025, although in some locations the service will be launched earlier. There is a huge interest in our project from the city authorities, but we have not yet decided exactly where to begin providing our services,” he told RIA Novosti.

    Last week, the company revealed the design of its five-seat Lilium Jet electric aircraft. The vertical take-off and landing jet completed its maiden flight earlier this month.

    The price of "flights will be competitive compared to travel by means of other vehicles," according to Walker-Jones.

    “Our aircrafts are completely electric and do not produce CO2 emissions. When starting, there is noise, like from the engine start of a truck, but you will not hear it during flight,” he said.

    According to the representative, the air taxis are currently undergoing various certifications. Everything will be organized in such a way as to “not create obstacles for regular air traffic,” Walker-Jones said, noting that at first the jets will be controlled by pilots, but later switched to the unmanned mode.

    Lilium jets will practically become an alternative to long-distance trains and intercity buses. They are faster and more environmentally friendly than these types of transport and must be available 'on-demand,” said Walker-Jones.

    READ MORE: Top Russian automaker wants to build flying cars

    The Lilium Jet has no tail, no rudder, no propellers, no gearbox, and only a single moving part in the electric motors. The full-size prototype is powered by 36 all-electric jet engines. It is capable of traveling up to 300 kilometers per hour.

     

     


    25.05.2019 | Amazon Files a Patent to Analyze Consumers’ Emotions




    There are always numerous developments in the technology sector to keep an eye on. Now that voice-powered personal assistants have become the new normal, some companies are already looking to the future. Amazon is currently in the process of building a device which will allegedly read human emotions. It also comes with its own mobile application, to make the technology more accessible. Amazon Cares About Your Emotions Even though a lot of people are uncomfortable with sharing personal information with major corporations, the rise in popularity of voice-powered personal assistants confirms the opposite is true. In fact, so many consumers have an Amazon Alexa or similar devices at home which they use on a regular basis. These devices offer tremendous convenience, even though they will also allow companies to harvest even more personal information from consumers. Amazon is now looking to take matters one step further. Their new device will be either great or a complete nightmare, depending on which camp one resides in. This new device is voice-powered and capable of recognizing human emotions. It is a wrist-worn device which will serve as a health and wellness product. Some may even claim it is a smarter “smart wristband” most people seem to own at this time. The bigger question is whether or not Amazon should even know how consumers feel at any given time. Based on the documents submitted to the US Patent Office, this device is a collaboration between Lab126 and the Alexa software team. Lab123 is responsible for building the hardware which powers the Amazon Fire phone and Echo smart speaker. It is expected this wrist-worn device will communicate with a mobile application. Within the wrist-worn device, there are multiple microphones which rely on proprietary software to analyze the user’s emotional state.  This analysis will be made depending on how the user sounds at the time of communicating with the device in question. While the exact purpose of this analysis remains unclear, Amazon clearly sees merit in exploring this angle. Despite the documents being submitted to the US Patent Office, there is no guarantee this device will ever come to market. It is not uncommon for companies to submit filings which will never result in tangible products. Additionally, Amazon allows its R&D teams to explore many different potential products, although there is never a guarantee they will be turned into tangible products. For quite some time now, there has been an interest in building machines which can understand human emotions. Albeit this concept is primarily popular in sci-fi novels, movies, and TV shows, it is not entirely impossible to realize such a feat. How efficient those machines end up being, is always difficult to predict. The first iterations of groundbreaking technology are usually far from perfect. It seems likely to assume this project – assuming it is ever created – will not necessarily impress too many people at first. Whenever an initiative like this comes to light, it is only normal people immediately think the worst. Amazon could certainly use the mental state of its customers for commercial purposes down the line. Whether it is to sell health products or improve targeted advertising, remains to be determined. In the end, it is up to individual consumers as to how much information they share with these mega-corporations. Potential products like these will undoubtedly spark some intriguing debates for the foreseeable future.     ...

    There are always numerous developments in the technology sector to keep an eye on. Now that voice-powered personal assistants have become the new normal, some companies are already looking to the future. Amazon is currently in the process of building a device which will allegedly read human emotions. It also comes with its own mobile application, to make the technology more accessible.

    Amazon Cares About Your Emotions

    Even though a lot of people are uncomfortable with sharing personal information with major corporations, the rise in popularity of voice-powered personal assistants confirms the opposite is true. In fact, so many consumers have an Amazon Alexa or similar devices at home which they use on a regular basis. These devices offer tremendous convenience, even though they will also allow companies to harvest even more personal information from consumers.

    Amazon is now looking to take matters one step further. Their new device will be either great or a complete nightmare, depending on which camp one resides in. This new device is voice-powered and capable of recognizing human emotions. It is a wrist-worn device which will serve as a health and wellness product. Some may even claim it is a smarter “smart wristband” most people seem to own at this time. The bigger question is whether or not Amazon should even know how consumers feel at any given time.

    Based on the documents submitted to the US Patent Office, this device is a collaboration between Lab126 and the Alexa software team. Lab123 is responsible for building the hardware which powers the Amazon Fire phone and Echo smart speaker. It is expected this wrist-worn device will communicate with a mobile application. Within the wrist-worn device, there are multiple microphones which rely on proprietary software to analyze the user’s emotional state.  This analysis will be made depending on how the user sounds at the time of communicating with the device in question.

    While the exact purpose of this analysis remains unclear, Amazon clearly sees merit in exploring this angle. Despite the documents being submitted to the US Patent Office, there is no guarantee this device will ever come to market. It is not uncommon for companies to submit filings which will never result in tangible products. Additionally, Amazon allows its R&D teams to explore many different potential products, although there is never a guarantee they will be turned into tangible products.

    For quite some time now, there has been an interest in building machines which can understand human emotions. Albeit this concept is primarily popular in sci-fi novels, movies, and TV shows, it is not entirely impossible to realize such a feat. How efficient those machines end up being, is always difficult to predict. The first iterations of groundbreaking technology are usually far from perfect. It seems likely to assume this project – assuming it is ever created – will not necessarily impress too many people at first.

    Whenever an initiative like this comes to light, it is only normal people immediately think the worst. Amazon could certainly use the mental state of its customers for commercial purposes down the line. Whether it is to sell health products or improve targeted advertising, remains to be determined. In the end, it is up to individual consumers as to how much information they share with these mega-corporations. Potential products like these will undoubtedly spark some intriguing debates for the foreseeable future.

     

     


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