The Prometheus League
Breaking News and Updates
- Abolition Of Work
- Ai
- Alt-right
- Alternative Medicine
- Antifa
- Artificial General Intelligence
- Artificial Intelligence
- Artificial Super Intelligence
- Ascension
- Astronomy
- Atheism
- Atheist
- Atlas Shrugged
- Automation
- Ayn Rand
- Bahamas
- Bankruptcy
- Basic Income Guarantee
- Big Tech
- Bitcoin
- Black Lives Matter
- Blackjack
- Boca Chica Texas
- Brexit
- Caribbean
- Casino
- Casino Affiliate
- Cbd Oil
- Censorship
- Cf
- Chess Engines
- Childfree
- Cloning
- Cloud Computing
- Conscious Evolution
- Corona Virus
- Cosmic Heaven
- Covid-19
- Cryonics
- Cryptocurrency
- Cyberpunk
- Darwinism
- Democrat
- Designer Babies
- DNA
- Donald Trump
- Eczema
- Elon Musk
- Entheogens
- Ethical Egoism
- Eugenic Concepts
- Eugenics
- Euthanasia
- Evolution
- Extropian
- Extropianism
- Extropy
- Fake News
- Federalism
- Federalist
- Fifth Amendment
- Fifth Amendment
- Financial Independence
- First Amendment
- Fiscal Freedom
- Food Supplements
- Fourth Amendment
- Fourth Amendment
- Free Speech
- Freedom
- Freedom of Speech
- Futurism
- Futurist
- Gambling
- Gene Medicine
- Genetic Engineering
- Genome
- Germ Warfare
- Golden Rule
- Government Oppression
- Hedonism
- High Seas
- History
- Hubble Telescope
- Human Genetic Engineering
- Human Genetics
- Human Immortality
- Human Longevity
- Illuminati
- Immortality
- Immortality Medicine
- Intentional Communities
- Jacinda Ardern
- Jitsi
- Jordan Peterson
- Las Vegas
- Liberal
- Libertarian
- Libertarianism
- Liberty
- Life Extension
- Macau
- Marie Byrd Land
- Mars
- Mars Colonization
- Mars Colony
- Memetics
- Micronations
- Mind Uploading
- Minerva Reefs
- Modern Satanism
- Moon Colonization
- Nanotech
- National Vanguard
- NATO
- Neo-eugenics
- Neurohacking
- Neurotechnology
- New Utopia
- New Zealand
- Nihilism
- Nootropics
- NSA
- Oceania
- Offshore
- Olympics
- Online Casino
- Online Gambling
- Pantheism
- Personal Empowerment
- Poker
- Political Correctness
- Politically Incorrect
- Polygamy
- Populism
- Post Human
- Post Humanism
- Posthuman
- Posthumanism
- Private Islands
- Progress
- Proud Boys
- Psoriasis
- Psychedelics
- Putin
- Quantum Computing
- Quantum Physics
- Rationalism
- Republican
- Resource Based Economy
- Robotics
- Rockall
- Ron Paul
- Roulette
- Russia
- Sealand
- Seasteading
- Second Amendment
- Second Amendment
- Seychelles
- Singularitarianism
- Singularity
- Socio-economic Collapse
- Space Exploration
- Space Station
- Space Travel
- Spacex
- Sports Betting
- Sportsbook
- Superintelligence
- Survivalism
- Talmud
- Technology
- Teilhard De Charden
- Terraforming Mars
- The Singularity
- Tms
- Tor Browser
- Trance
- Transhuman
- Transhuman News
- Transhumanism
- Transhumanist
- Transtopian
- Transtopianism
- Ukraine
- Uncategorized
- Vaping
- Victimless Crimes
- Virtual Reality
- Wage Slavery
- War On Drugs
- Waveland
- Ww3
- Yahoo
- Zeitgeist Movement
-
Prometheism
-
Forbidden Fruit
-
The Evolutionary Perspective
Monthly Archives: February 2017
US position on Montenegro accession to NATO is early test of Trump willingness to defy Putin’s Russia – MarketWatch
Posted: February 13, 2017 at 9:01 am
The Trump administration is moving to back Montenegros bid to join the North Atlantic Treaty Organization, according to senior U.S. officials, a decision that could both bolster the Western alliance and antagonize Russia.
The likely move would take place in a rapidly evolving political and diplomatic climate, in which President Donald Trump is steadfastly backing improved ties with Moscow but maintaining for now U.S. strictures imposed in recent years against the Kremlin.
The Russian government has vehemently opposed Montenegro joining NATO, keeping with its longstanding opposition to the alliances expansion. Montenegrin officials have publicly accused the Kremlin of trying to deter its membership by instigating an attempted coup against the government in October. Moscow has denied the charge.
Formal U.S. backing for the Balkan nations admission could emerge as the first flashpoint between Washington and Moscow since Trump took office, current and former U.S. officials said. At the same time, they said, the Kremlin may believe that Trump can go only so far in moderating U.S. policies concerning Russia and wouldnt expect him to make a sudden, sharp reversal on a decision made by the Obama administration in 2015.
An expanded version of this report appears at WSJ.com.
Slide show: Montenegros luxe coastal properties
Popular at WSJ.com:
Trump administration begins deportation raids across the U.S.
Mexicans vow to fight Trump by jamming U.S. courts
Yale renames Calhoun College over slavery ties
See the original post here:
US position on Montenegro accession to NATO is early test of Trump willingness to defy Putin's Russia - MarketWatch
Posted in NATO
Comments Off on US position on Montenegro accession to NATO is early test of Trump willingness to defy Putin’s Russia – MarketWatch
NSA so concerned over Donald Trump’s ties to Russia they’ve ‘withheld information from presidential briefings’ – The Independent
Posted: at 9:00 am
A websitethat until very recently waspublished by Donald Trump's son-in-law has claimed thatUS spies are withholding their most sensitive intelligence from the White House.
For the past three weeks, according to a former National Security Agency (NSA) analyst and counter-intelligence officer, some the America's spy agencieshave begun withholdingintelligence from the Oval Officeamid fears"the Kremlin has ears inside" the White House situation room.
The claims follow reports thatNational Security Adviser Michael Flynn discussed lifting sanctions against Moscow with a Russian diplomat before Mr Trump took office.
An NSA official told the New York Observer it was holding back some of the "good stuff" from the White House, while onePentagon worker said: "There's not much the Russians don't know at this point. Since January 20, weve assumed that the Kremlin has ears inside the [situation room]."
The FBI is still investigating Gen Flynn's conversations with Russian Ambassador Sergey Kislyak.
Nine sources told theWashington Postthe pair had discussed sanctions imposed on Russia by outgoing President Barack Obama, despite Gen Flynn twice saying "no" in response to interview questionswhen asked if the sanctions, over Russias interference in the US election, were brought up.
In the past Mr Trump has been criticised for a perceived lack of respect for the intelligence community, while as President-elect he called the storm over Russian hacking of the election a "political witch-hunt".
The New York Observer's website is an amalgamation of several media brands bought by Mr Trump's son-in-law, Jared Kushner.
Mr Kushnerwas the owner of the news website until last month when he was named a senior White House adviser.
He is married to Mr Trump's eldest daughter, Ivanka.
Posted in NSA
Comments Off on NSA so concerned over Donald Trump’s ties to Russia they’ve ‘withheld information from presidential briefings’ – The Independent
Former NSA contractor indicted in stolen data case – CNN
Posted: at 9:00 am
Harold Thomas Martin III, 52, faces 20 counts of willful retention of national defense information.
The indictment alleges Martin removed classified documents from 1996 to 2016. He is accused of keeping documents in his home or car.
The documents include highly classified materials from the National Security Agency, the US Cyber Command, the CIA and the National Reconnaissance Office. Among the documents are ones that reveal US military gaps, capabilities and operations, as well as ones that contained foreign intelligence collection methods, targeting information and technical user materials.
Martin's attorney had no comment when contacted by CNN.
FBI investigators haven't concluded what Martin's motivation was for stealing the documents. At a hearing in late October a public defender representing Martin said his client was a hoarder who was "completely out of control."
Before his arrest in August, Martin worked as a contractor to the National Security Agency through consulting firm Booz Allen Hamilton, which fired him after he was charged. He has a long history working with sensitive government intelligence, and served in the US Navy and Naval Reserves for more than 10 years, reaching the rank of lieutenant.
The information he had digitally in his car, the feds said, was equivalent to approximately 50,000 gigabytes, enough to store 500 million documents containing images and text.
The government said Martin had a document "regarding specific operational plans against a known enemy of the United States and its allies." That document was not only classified but marked need-to-know only, and Martin should not have been privy to that information, prosecutors said in court filings.
Also found were files containing personal information of government employees, and an email chain with "highly sensitive information" on the back of which were handwritten notes "describing the NSA's classified computer infrastructure and detailed descriptions of classified technical operations."
Among the documents the FBI believes Martin stole were some detailing a hacking tool that the NSA developed to break into computer systems in other countries, law enforcement sources said when he was arrested. Documents detailing the tools were posted on the Internet in recent months, though no connection to Martin has been offered.
Martin's attorneys have argued previously in court that he is not a flight risk because he does not have his passport and has a wife and home in Maryland. They noted his military service.
Martin will make his next appearance in court on February 14.
CNN's Steve Almasy contributed to this report.
See the rest here:
Former NSA contractor indicted in stolen data case - CNN
Posted in NSA
Comments Off on Former NSA contractor indicted in stolen data case – CNN
Sheriff Page, NSA leaders, meet with President Trump at White House – Greensboro News & Record
Posted: at 9:00 am
WASHINGTON There is a new sheriff in charge of the United States of America who is more than willing to listen to law enforcement leaders about the issues they face in the communities that span far and wide across the country.
On Tuesday, one of those prominent voices at the nations capital was a man who has dedicated the last 30 years to protecting and serving the residents of North Carolinas North Star.
The invitation was part of a week-longtrip to the nations capital to attend the association's winter conference, where Page also met with fellow members of the NSA Immigration and Border Security Commission for a convened meeting.
Rockingham County Sheriff Sam Page was one of nearly a dozen sheriffs from the executive committee of the National Sheriffs Association on Feb. 7 that joined President Donald Trump in the White House to discuss immigration, border security and the leadership direction of the executive branch of government.
Vice President Mike Pence was also in attendance.
An NSA spokesperson told the Huffington Post on Saturday that the group who spoke with Trump wasa combination of leadership chosen by the association and certain elected officers who were requested by the White House.
The meeting was the first of its kind between the National Sheriffs Association and a sitting president. Members of the meeting were also invited into the Oval Office following the roundtable talk with the president.
Page also presented Trump with a red hat in the president's office, with white lettering that read, Sheriffs for Trump.
We appreciate you being where you are at, said Page to President Trump during the open discussion that focused on several topics, including the opioid epidemic across the nation, border security and illegal immigration.
The first responsibility of government is to protect its people as we are elected by the people and you are elected by the people, we got that. When you said there is a new sheriff in town, we relate to that. You are about the rule of law we haven't seen that in many years and we appreciate that.
Page has been a vocal leader over the last six years in regards to advocating that the U.S. Government enforces existing federal law to protect national borders specifically to help eliminate illegal drug trade.
The Sheriff also shared with the President his appreciation for John F. Kelly, who was named the fifth United States Secretary of Homeland Security on Jan. 20.
He went to the border, Page said. He looked at the assets and he asked the law enforcement down there whats going on and what can we do to help fix this situation down here. Youve got a good team and youre putting together a good team and you have the support of sheriffs from across the country and we appreciate what you are doing.
Page, who was elected as sheriff of Rockingham County in 1998, also served as the President of the North Carolina Sheriffs Association during the 2010-11 term.
The former Eden Police officer planned to stay in Washington DC until Feb. 9.
The sheriff also has scheduled meetings with Rep. Mark Walker and Sen. Richard Burr during his visit to the capital.
Contact Joe Dexter at (336) 349-4311, ext. 6139and follow @DexterJoe_RCN on Twitter.
More:
Sheriff Page, NSA leaders, meet with President Trump at White House - Greensboro News & Record
Posted in NSA
Comments Off on Sheriff Page, NSA leaders, meet with President Trump at White House – Greensboro News & Record
Google Project Zero: How we cracked Samsung’s DoD- and NSA-certified Knox – ZDNet
Posted: at 9:00 am
Google Project Zero's Gal Beniamini details four key errors he used to bypass Knox's kernel protections on a Galaxy S7 edge.
Google's Project Zero hackers have detailed several high-severity flaws that undermined a core defense in Samsung's Knox platform that protects Galaxy handsets in the enterprise.
Since launching Knox in 2013, the platform has been certified for internal use by UK and US government departments, including the US DoD and NSA. Given these certifications, defense-in-depth mechanisms should be rock solid.
But according to Project Zero's Gal Beniamini, who last year tore apart Android's full disk encryption, a Knox hypervisor designed to protect the Linux kernel during runtime can be subverted multiple ways.
Beniamini details four key errors he used to bypass Knox's kernel protections on a Galaxy S7 edge with Samsung's Exynos chipset. They're rather serious given that compromising the kernel would allow an attacker to access system data, hide malware, change system behavior, or take over the system.
While Android's Trusted Boot protects the integrity of the kernel during boot, it doesn't protect the kernel after it's booted and running. This shortcoming was why Samsung introduced its Knox hypervisor, known as Real-time Kernel Protection or RKP, which uses the ARM TrustZone to create a "secure world" walled from the "normal world".
Samsung fixed the six RKP issues reported by Beniamini in its January Android patch and lists them as memory corruption, information disclosure, privilege escalation, and authentication bypass bugs.
As Beniamini explains, since Knox v2.6, Samsung devices implemented an exploit-mitigation feature called Kernel Address Space Layout Randomization (KASLR), which should prevent an attacker predicting the address the kernel is loaded to. However, a simple coding error by Samsung made it possible to calculate the location.
"This security feature introduces a random 'offset', generated each time the device boots, by which the base address of the kernel is shifted. Normally, the kernel is loaded into a fixed physical address, which corresponds to a fixed virtual address in the VAS of the kernel. By introducing KASLR, all the kernel's memory, including its code, is shifted by this randomized offset, also known as a 'slide'," explains Beniamini.
However, as he notes, since all of the kernel is shifted by a single slide value, "leaking any pointer in the kernel which resides at a known offset from the kernel's base address would allow us to easily calculate the slide's value".
Beniamini says most Android devices correctly implement a function known as ktpr_restrict to hide a pointer's value using the anonymizing format specifier %pK, specifically with an upper case K. As Beniamini has previously highlighted, all kernel pointers printed using %pK are hidden. However, Samsung "rather amusingly" used a lowercase k.
"This allows us to simply read the contents of pm_qos, and subtract the pointer's value from its known offset from the kernel's base address, thus giving us the value of the KASLR slide," he explains.
Beniamini details three other RKP mitigations he got around, and several recommended steps Samsung could take to shield it from future attacks.
The rest is here:
Google Project Zero: How we cracked Samsung's DoD- and NSA-certified Knox - ZDNet
Posted in NSA
Comments Off on Google Project Zero: How we cracked Samsung’s DoD- and NSA-certified Knox – ZDNet
Oregon counties’ gun measures spark debate – KTVZ
Posted: at 8:57 am
Proposals involving guns are always controversial (File photo) Proposals involving guns are always controversial (File photo)
LAKEVIEW, Ore. - A measure challenging gun regulations is popping up around the state. Since 2015, four counties have passed a measure known as the Second Amendment Preservation ordinance, and commissioners in Malheur, Union and Lake counties have heard the same measure in the past few weeks.
The ordinance is a reaction to the Oregon Firearms Safety Act, passed by the state Legislature in 2015, which requires background checks for transfers of firearms between private parties. These county ordinances allow sheriffs to ignore this law - which gun advocates see as unconstitutional.
But Ceasefire Oregon Executive Director Penny Okamoto said there's a fatal flaw in the measure.
"There's an Oregon firearms pre-emption law that states that counties, municipalities, cities actually can't make certain laws regarding certain aspects of firearm sales, ownership, storage," Okamoto said. "So these ordinances or resolutions really are largely very symbolic."
The legality of this ordinance is still in question.
Rob Taylor of Coos County is one of the chief petitioners for the Second Amendment Preservation ordinance. He said he wants Oregon to have what he called "sanctuary counties" for the Second Amendment.
"The same way Oregon has become a sanctuary state for immigration," he said.
While Okamoto and Taylor disagree over the measure, they both point to poor mental health services for Oregonians and the importance of addressing those shortfalls to prevent violence.
Taylor said Gov. Kate Brown's proposal to shut down a mental health hospital in Junction City could hurt the people it serves.
"It doesn't matter whether they get a gun or a car or a bomb. If they have those thoughts, they're going to act upon it," he said. "And so the best thing to do is to have places like mental hospitals so we can have people go and get those problems healed or cured."
Okamoto said one of the biggest concerns related to gun violence is suicide, which accounts for most of the violent deaths from guns.
"You can pass all these ordinances you want, but that's not really taking a look at the fact that a lot of people in these rural counties are using their guns to kill themselves," she said. "And that's an issue that really needs to be addressed."
Go here to see the original:
Oregon counties' gun measures spark debate - KTVZ
Posted in Second Amendment
Comments Off on Oregon counties’ gun measures spark debate – KTVZ
Advice on cryptocurrency during divorce – Tropic Now – TropicNow
Posted: at 8:55 am
Cryptocurrencies are quickly becoming a weapon for many divorcees, according to Financial Times contributor Jane Croft.
The relative anonymity of these currencies provides divorcing parties with a clever way to hide assets allowing them to avoid full disclosure of their monetary property. What should you keep in mind about these currencies when heading into divorce conversations?
Remember to specifically ask about cryptocurrencies Knowing that cryptocurrencies can play a part in your divorce settlement is half the battle. Make sure to ask about them specifically from the onset.
Try to trace the money The fact is, divorcees with money in cryptocurrencies will not always be upfront with these assets.
When possible, try to track the money trail. While the movements of actual cryptocurrencies aren't easily traceable, the conversion of regular assets into these online assets will leave clues try to pinpoint them as proof.
Enlist the help of professionals Dealing with the legalities of these currencies is complex at best. You should enlist the help of experienced lawyers to ensure you are dealing with the existence of online assets as effectively as possible.
Bitcoins: What and how?
So what even is cryptocurrency? The most common version comes in the form of Bitcoins. According to the Oxford Dictionary, Bitcoin is:
"A type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank."
Dealing with online currencies and the division of assets in a divorce settlement is a process that should involve the help of experts.
Here at WGC we have a team of lawyers that can help you navigate these murky waters to ensure you are getting your fair share during your divorce settlement cryptocurrencies or not.
Read more:
Advice on cryptocurrency during divorce - Tropic Now - TropicNow
Posted in Cryptocurrency
Comments Off on Advice on cryptocurrency during divorce – Tropic Now – TropicNow
Swiss Company Lykke Offers Forward Contract with 20% Discount on Cryptocurrency – Crowdfund Insider
Posted: at 8:55 am
Lykke, a Zurich-based Fintech firm that wants to become the worlds first regulated marketplace built on cryptographic technology is offering a one-year forward contract on a bespoke cryptocurrency or Lykke Coin with a 20% discount. Announced last week, Lykke basically will provide a 20% discount on the cryptocurrency if you hold it for a whole year.
The forward contract operates pretty much like other forward contracts except Lykke says it will offer settlement at the run instead of only at the settlement date. The limited offer started on February 9th and continues to February 2th if you are interested. Lykke intends on selling up to 50 million coins with an issue price of CHF 0.04 per coin so an estimated raise of CHF 2 million. Lykke Coins are registered on blockchain and 100 Lykke Coins are said to be entitled to 1 Lykke share.
Lykke is the creation of Richard Olsen who first founded OANDA in 1996, a retail broker serving over 100,000 retail trading clients worldwide. Lykke originally raised USD $ 2.8 million in 2015. Lykke says it is applying to the Financial Conduct Authority (FCA) in the UK for an investment firm license to provide a multilateral trading facility and to offer a non-exchange financial trading venue as part of a broader aim of establishing the worlds first crypto-marketplace offering trade execution on a range of financial instruments.
PhotoJohn Cassidy The Headshot Guywww.theheadshotguy.co.uk07768 401009
Lykke Chief Business Development Officer, Demetrios Zamboglou, commented on the announcement that genuine change in financial services can only be achieved via robust technology that serves everyone better;
rather than just its gatekeepers. Lykke is committed to creating a means for anyone to conduct financial transactions and store their assets in secure digital blockchains, secured from any single authority or counterparty, said Zamboglou. Blockchain-powered crypto-currencies are actively demonstrating their superiority over the fiat-paper status-quo, for so long the bastion of big banks. Blockchain technology is here to show financial services as a sector that there is a better way, and theres no turning back.
Lykke believes its selling-point is better security with a centralized matching engine and decentralized immediate settlement, and an open-source approach to typically closed-loop systems that dominate financial services transactions today.
In the history of Financial Services, it has always been a requirement to have deep pockets to operate on a level playing field. With Lykke, the only requirement to enter a level playing field is an internet connection, stated Lykke founder and CEO, Richard Olsen.
Lykke has already gone public on its own exchange and is said to be building enterprise-scale solutions for large financial institutions. Lykke is also a member of the Hyperledger project.
Lykke has also formed a partnership with ChronoBank to allow users to trade ChronoBanks tokens for other currencies frictionlessly. ChronoBank is in the midst of a crowdfunding round having raised over $4 million in Bitcoin. The Australian Fintech firm is creating a decentralized marketplace, named LaborX, where people can sell labor hours to anyone anywhere. ChronoBank.io wants to totally disrupt HR/Recruitment and finance industries just how Uber is crushing taxis.
. Bookmark the
.
See the original post here:
Swiss Company Lykke Offers Forward Contract with 20% Discount on Cryptocurrency - Crowdfund Insider
Posted in Cryptocurrency
Comments Off on Swiss Company Lykke Offers Forward Contract with 20% Discount on Cryptocurrency – Crowdfund Insider
AI and Bitcoin Are Driving the Next Big Hedge Fund Wave – WIRED
Posted: at 8:54 am
Slide: 1 / of 1. Caption: Twelveofour
Jeffrey Tarrant is a Wall Street guy. He spent the last thirty years investing in new hedge funds. As the founder and CEO of a firm called Protege Partners, he compares himself to Sam Altman, the president of Y Combinator. What Altman does for Silicon Valley tech startups, Tarrant does for hedge funds. I help seed them and incubate them, he says.
The analogy has never been more true than right now. Tarrant is beginning to explore hedge funds built on ideas that have sparked so many companies and created so much wealth in Silicon Valleyideas that span artificial intelligence, crowdsourcing, and digital currencies. He believes the hedge fund world is on the verge of a new revolution, a revolution he calls the Third Wave.
Hedge funds are moving beyond the quants.
The 1970s saw the rise of discretionary funds, where iconic investors like George Soros used their very human judgments to find new opportunities in the market. Then came the quants at funds like Renaissance Technologies, who found even greater opportunities through statistics and computer algorithms. Now, Tarrant says hedge funds are moving beyond the quants.
As a prime example, he cites Numerai, a San Francisco hedge fund that makes trades using machine learning models built by thousands of anonymous data scientists paid in bitcoin. Funds such as Quantopian and Quantiacs are tapping the wisdom of the masses in other ways. And then theres Polychain, a fund that invests exclusively in bitcoin and other digital tokens housed on a blockchain, the distributed online ledger that makes cryptocurrencies possible. As its name suggests, Polychain isnt just investing in digital coinsits investing in a radically new breed of businesses owned, funded, and operated entirely by decentralized networks of anonymous online investors.
Such funds arent always easy to wrap your head around. But as Wall Street tries to make sense of them, these new tech-driven approaches to investing are proliferating. In the late `90s, Tarrant helped build an online directory of hedge funds called AltVest. Now, hes building a directory for this new wave of funds. It includes roughly fifty players, many of whom have yet to publicly announce themselvesthough Tarrant admits that only about half have demonstrated real promise so far.
Not surprisingly, some financial vets question how effective Tarrants new wave will be. In a recent Bloomberg story, several fund managers said that recent enthusiasm for machine learning is overblown. In some cases, even the founders of these Third Wave funds urge caution.
Regardless of what method you use in quantitative financebe it machine learning or traditional quant methodsthere are an infinite number of ways to fail, says Martin Froehler, a former quant with Superfund Asset Management GmbH in Switzerland who went on to found Quantiacs. Machine learning models are no superweapon, he says. In his experience, ninety percent of live machine learning tests fail.
But Froehlers fund benefits from machine learning, too. Based in Silicon Valley, Quantiacs attempts to crowdsource the quant model, and many of the quants feeding the fund are using machine learning technologies. Among other things, theyre making use of deep neural networks, complex mathematical systems for recognizing patterns in vast amounts of data. In other words, the Third Wave is not just about using one new technique. Its about combining techniques, from machine learning to crowdsourcing to the blockchain.
Nor is this just a battle of the old guard and the new. The founder of Renaissance has invested in Numerai, and Point72 Asset Management, the fund founded by billionaire Stephen Cohen, has put money into Quantopian. These people who I considered old school really understood what I was getting at, says Numerai founder Richard Craib. And I thought I was going to be ahead of my time.
Even the apparent skeptics are embracing the trend. Im concerned that people may have unrealistic expectations of what is possible with the current state of the art, David Siegel, co-founder of storied quant fund Two Sigma Investments, said last fall. But more recently, his fund ran an online contest through Silicon Valley data scientist marketplace Kaggle, offering a $100,000 prize for the best machine learning model. One company director indicated the contest was more of a recruitment tool than a full embrace of crowdsourcing or machine learning. But whatever the intention, it was yet another example of Silicon Valley and Wall Street drawing closer than ever before.
Read more:
AI and Bitcoin Are Driving the Next Big Hedge Fund Wave - WIRED
Posted in Bitcoin
Comments Off on AI and Bitcoin Are Driving the Next Big Hedge Fund Wave – WIRED
Is Bitcoin Growing Up? – Bloomberg Gadfly – Bloomberg
Posted: at 8:54 am
Bitcoin is showing signs of becoming a serious asset class.
Last week's price swings hardly back up that assertion. The cryptocurrency dropped 7.8 percent on Thursday after newsthat the People's Bank of Chinathreatened to shut exchanges that violate money-laundering rules. The announcement also prompted some of the biggest websites operating bitcoin in the country to haltwithdrawals, limiting them to converting the digital coin to yuan and depositing it in local banks.
Two-day bounce in late 2013
70%
For all the volatility, though, there are indications that bitcoin is acting more grown up. Go back to December 2013, when the PBOC intervened after the cryptocurrency reached a record high of $1,137. It then dropped 51.4 percent in a week, only to bounce back about 70 percent in the next two days and fall below $600 in another week. Bitcoin then settled into a slow descent to $183 by January 2015.
Maturing
Bitcoin's wild swings hardly make it look like a mature market, but it's calmer than it was three years ago
Source: Bloomberg
The latest swings followed a similar pattern. As soon as bitcoin breached $1,000, the Chinese authorities got involved and the price plunged. Last week, once again, that level was pierced, and once more the central bank entered the fray. On Monday, the price was little changed at $1,003.
The difference now is the magnitude of the moves. While the currency did fluctuate by double digits some days, these were nothing like the gyrations the PBOC prompted back in 2013.
Less Fickle
While bitcoin has been volatile, it's nothing like the old days
Source: Bloomberg
Movements deriving from black swan events for the currency are therefore much smaller and shorter-lived than they once were. There are some technical reasons for that: There's greater volume,circulation is broader, and the overall market is deeper.
The relative stability of bitcoin is probably also a result of the variety of instruments associated with it available to investors. People wanting to hedge their positions or even short the asset, for example, can use futures contracts traded through Bitmex.com, a marketplace that specializes in them. Investors can even use the platform to check whether the direction of the currency is changing.
The quarterly contract sold at Bitmex entered backwardation -- the future price fell below the spot price -- in January, shortly after the PBOC started cracking down on the exchanges. In a market with limitedsupply, the fact that most of the big traders are betting prices will go down must be bad news. So it proved, but this time hedging may have limited the downside.
Bitfinex, another site, has created an active marketplace for lending bitcoin to people who want to sell it short. The exchange even publishes an average daily rate for borrowing the currency, which has been going up in the past two weeks.
Bitcoin is still a small market, prone todislocations, but as the variety of instruments around the currency grows, it's starting to look more like the real thing.
This column does not necessarily reflect the opinion of Bloomberg LP and its owners.
To contact the author of this story: Christopher Langner in Singapore at clangner@bloomberg.net
To contact the editor responsible for this story: Paul Sillitoe at psillitoe@bloomberg.net
See more here:
Is Bitcoin Growing Up? - Bloomberg Gadfly - Bloomberg
Posted in Bitcoin
Comments Off on Is Bitcoin Growing Up? – Bloomberg Gadfly – Bloomberg







