Monthly Archives: February 2017

US trial set over bitcoin exchange linked to JPMorgan hack probe – Reuters

Posted: February 13, 2017 at 8:54 am

By Nate Raymond | NEW YORK

NEW YORK A Florida software engineer and a New Jersey pastor are expected on Monday to face trial in a case stemming from an investigation into a bitcoin exchange and a data breach at JPMorgan Chase & Co (JPM.N).

Jury selection is set to begin in Manhattan federal court in the case of Yuri Lebedev, who authorities call the architect of bitcoin exchange Coin.mx's electronic platform, and Trevon Gross, a pastor and ex-chairman of a now-defunct credit union.

Prosecutors contend Lebedev schemed to deceive financial institutions into processing transactions for the unlicensed Coin.mx. They say he also participated in bribing Gross to gain control over the credit union to facilitate the virtual currency business.

Both men have pleaded not guilty. Eric Creizman, Lebedev's lawyer, said he was "looking forward to his day in court." Gross' attorneys did not respond to requests for comment.

They are among nine people who have faced charges following an investigation connected to a breach JPMorgan disclosed in 2014 that exposed more than 83 million accounts.

Gross, 52, and Lebedev, 39, were not accused of hacking.

But they came under scrutiny in connection with Coin.mx, which authorities said was operated by Anthony Murgio, who attended Florida State University with Lebedev, and was owned by an Israeli behind the JPMorgan breach, Gery Shalon.

Prosecutors say Shalon, together with Maryland-born Joshua Samuel Aaron, orchestrated cyber attacks that resulted in the theft of over 100 million peoples' information.

Prosecutors said they carried out the cyber crimes to further other schemes with another Israeli, Ziv Orenstein, including pumping up stock prices with promotional emails. Shalon, Aaron and Orenstein have pleaded not guilty.

Prosecutors said Coin.mx operated through a front called "Collectables Club" to trick financial institutions into believing it was a memorabilia club while it converted, with no license, millions of dollars into bitcoin.

To further evade scrutiny, in 2014, Murgio, with Lebedev's help, tried to take over Helping Other People Excel Federal Credit Union of Jackson, New Jersey, which was linked to HOPE Cathedral.

To do so, they and others paid $150,000 in bribes via the church to Gross, its pastor, in exchange for facilitating Murgio's takeover and arranging for Lebedev and others to be put on the credit union's board, prosecutors said.

Gross' lawyers deny he was lining his pockets with what they call a church donation and say Collectables Club victimized the board.

Federal regulators took the credit union into conservatorship in 2015. Murgio pleaded guilty in January.

(Reporting by Nate Raymond in New York; Editing by Tom Brown)

Trump-branded consumer products have suffered new blows, with U.S. retailers Sears Holdings Corp and Kmart Corp discontinuing online sales of 31 Trump Home items, while new details emerged showing sales of Ivanka Trump's brand fell in the weeks before Nordstrom Inc stopped carrying her products.

WASHINGTON The new chairman of the U.S. Federal Communications Commission under President Donald Trump is keeping under wraps his strategy to revise or reverse the Obama administration's "net neutrality" rules, but emphasized he is committed to ensuring an open internet.

Amazon.com Inc warned on Friday that government actions to bolster domestic companies against foreign competition could hurt its business, in a possible reference to U.S. President Donald Trump's "America First" agenda.

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Bitcoin Or Bust: Taking British Banking Out Of Exchanges – Forbes – Forbes

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Forbes
Bitcoin Or Bust: Taking British Banking Out Of Exchanges - Forbes
Forbes
With a host of bitcoin exchanges in the UK having gone out of business from pressure exerted by commercial banks - through denying or withdrawing facilities ...
Is It Time To Remove UK Banks From the Bitcoin Ecosystem?newsBTC
Austria gets first dedicated 'Bitcoin Bank' - EconoTimesEconoTimes
Blockchain and Bitcoin round-up: 13 February 2017 Banking ...Banking Technology

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‘Untapped potential’: Bitcoin poised to profit from Iran’s ban on US … – RT

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As Iran moves away from using the US dollar, bitcoin has emerged as a potential replacement. The cryptocurrency could thrive in a country where more than 50 million people are connected to the internet, financial experts claim.

In the wake of US President Donald Trumps travel restrictions on seven countries including Iran, the governor of the Central Bank of Iran announced last month that the US dollar will be replaced with a stable reserve currency more frequently used in foreign trades.

READ MORE: Iran to dump the US dollar in response to Trump's travel ban

Two possible replacements are being explored such as using one currency, potentially the euro, or allowing Iranians to select from multiple currencies, reported the Coin Telegraph.

The announcement has caught the attention of the countrys first bitcoin exchange, BTXCapital, which sees Iran as a market with potential to grow. The market is massive. A large population with a high proportion connected to the internet means there is a lot of completely untapped market potential, Ganesh Jung, CEO of Draglet who develop an exchange platform used by BTXCapital, told IBTimes UK.

India recently saw a surge in bitcoin usage following the countrys demonetization of high-value paper notes, pushing people towards cashless transactions.

However, last week the Reserve Bank of India issued a warning to bitcoin users saying it is not licensed in the country.

Any user, holder, investor, trader, etc. dealing with virtual currencies will be doing so at their own risk, they said in a statement.

The cryptocurrency faces similar challenges in Iran where, according to the central bank, Article 2 of the states Money and Banking Act states that The Currency of Iran shall be in the form of money and coins, which were either in circulation at the time the legislation was passed or which are issued under the Act.

However, the restriction does not prevent bitcoin being used for other purposes including money transfers overseas.

READ MORE:Bitcoin keeps popping with prices at 2016 highs

Jung claims Iran will be supportive of bitcoin and use it as a way to signal that the country is hoping to reintegrate with the West and bitcoin is one way to do this."

Bitcoin more than doubled its value in 2016, becoming the years best-performing currency. It rallied at 126 percent on the back of strong demand in China, where the yuan saw its worst year on record, weakening 6.5 percent.

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See International Space Station Tonight In Western Washington … – Patch.com

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See International Space Station Tonight In Western Washington ...
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Seattle, WA - Clear skies tonight will give Puget Sound residents two chances to catch a glimpse of the International Space Station.
International Space Station visible tonight - MyDaytonDailyNews.comMyDaytonDailyNews

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Eerie space footage from ISS captures ‘blue jets’ bursting from alien … – Express.co.uk

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A Danish astronaut recorded the creepy moment "elusive blue jets" burst from a distant cloud in footage which has raised more questions than answers.

The unexplained phenomenon, filmed two years ago from onboard the International Space Station (ISS), appears to be a terrifying thunderstorm unfolding in space.

Despite using the station's most sensitive camera, the strange "activity" recorded over the Bay of Bengal remains a mystery.

It was perplexed scientists so much that the European Space Agency (ESA) are set to launch several experiments this year to "monitor the pulsating blue jets" shooting up out of clouds.

For years, the existence of the gigantic blue discharges has been debated, with the scientific community largely dismissing them - despite contrary reports from astronauts in space.

ESA

ESA astronaut Andreas Mogensen, who captured the footage, said: "It is not every day that you get to capture a new weather phenomenon on film, so I am very pleased with the result but even more so that researchers will be able to investigate these intriguing thunderstorms in more detail soon."

But for now, Mr Mogensen reiterated that "it's something that we know very little about".

The ESA added: "The blue discharges and jets are examples of a little-understood part of our atmosphere.

"Electrical storms reach into the stratosphere and have implications for how our atmosphere protects us from radiation."

ESA

ESA

It's something that we know very little about

Andreas Mogensen

The Danish-led investigation, named the Thor Experiment, into the "astonishing blue jets" confirmed that the beams grew to 25 miles out of the cloud before fading away.

The beams can move at speeds of up to 360,000kph (220,000mph) and without a high speed camera can be easily missed by the human eye.

Further studies into the strange phenomenon are planned for later this year, as part of a project to monitor the "transient luminious events".

ESA

Olivier Chanrion of the Danish National Space Institute in Lyngby: "We wanted to see what happens above a thunderstorm.

"What we see is that at the top of the cloud in what we call the 'turrets', there is incredible activity.

"They were dancing over the top of the cloud, and we called them glimpses.

"But it's only a first step and we need to find out more."

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An algae that survived two years in outer space may hold the secret to growing food on Mars – Quartz

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Humans wont survive on Mars for very long if they dont learn to grow their own food. Thats why we need to answer the question: What, if anything, can grow on the red planet?

A two-year experiment on the International Space Station (ISS) gives us some hints. A species of green algae and photosynthesizing bacteria have survived their 450-day stay in outer space. All but one of the algae samples started growing after being returned to Earth.

The experiment was part of the Biology and Mars Experiment (BIOMEX) to understand to what extent terrestrial life can survive in space. It involved a series of pockets where hundreds of specimens of bacteria, fungi, lichens, algae, and mosses were exposed to conditions of near vacuum, temperatures between -4 F (-20 C) and 116 F (47 C), and a continuous blast of ultraviolet radiation.

The BIOMEX lab was sent back to Earth in June 2016, and we are starting to get the results. Researchers are now analyzing the DNA of what survived to look for what kind of damage it may have suffered.

The surviving algae belonged to the Sphaerocystis species, found in Svalbard, a Norwegian archipelago, and the cyanobacteria to the Nostoc species, found in Antarctica. The species were selected because they are known to withstand extreme cold. The algae species protects itself by entering a dormant state, forming thick walls and orange cysts rich in cartenoids, which is the chemical that gives carrots its color and is known to be protective against radiation. These species is now being added to the small but growing list of terrestrial organisms that can survive space, which include lichens, bacteria, and water bears (tardigrades).

A practical lesson from these survivalists could help us farm on Mars. Algae produce proteins and oxygen, both key ingredients for surviving once humans leave the blue planet.

The survivors could also help us understand how life on Earth began. The leading hypothesis is that life emerged spontaneously from just the right mix of chemicals and environmental conditions, but there is also the possibility that it may have been delivered to Earth by meteorites or comets. Such life would have needed to survive harsh conditions of space en route, which is why the BIOMEX results support the hypothesis.

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First Privately Funded Commercial Airlock for Space Station Planned – Occupational Health and Safety

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First Privately Funded Commercial Airlock for Space Station Planned

"The installation of NanoRacks' commercial airlock will help us keep up with demand," said Boeing International Space Station program Manager Mark Mulqueen. "This is a big step in facilitating commercial business on the ISS."

Boeing and NanoRacks LLC, a company based in Webster, Texas, announced Feb. 6 they will partner to develop the first privately funded commercial airlock for the International Space Station. The airlock would allow for potentially tripling the number of small satellites that can be deploy from the station during a single airlock cycle, they reported.

They hope to attach the NanoRacks Airlock Module to the U.S. station segment in 2019. Boeing will build and install the airlock's Passive Common Berthing Mechanism, the hardware used to connect the pressurized modules of the space station, which currently uses the airlock on the station's Japanese Experiment Module.

The new, commercial airlock will be larger. "The installation of NanoRacks' commercial airlock will help us keep up with demand," said Boeing International Space Station program Manager Mark Mulqueen. "This is a big step in facilitating commercial business on the ISS."

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5 Things We Learned From The Wall Street Journal’s Exclusive … – Madison.com

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It's what you may not have heard, though, that will really shock you: SpaceX never planned to earn much profit from launching rockets in the first place. Instead, SpaceX is placing its faith in a megaproject, partially backed by Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), to create a satellite broadband internet constellation, which will encircle the globe, and (as the Journal puts it) "eventually dwarf [SpaceX's] rocket division."

Now, here are five more things you need to know about SpaceX's secret plan for satellite dominance.

Look! Up in the sky! It's not a bird or a plane -- it's how SpaceX hopes to turn profitable. Image source: Getty Images.

While most famous today for its rocket launches (and soon to become famous for launching reused rockets, perhaps as soon as this month), SpaceX sees rockets as only a small part of its plans for future profits.

That year, revenue from satellites will be minuscule -- a few hundred million dollars at most, and probably contributing nothing to profits. Just one year later, however, in 2020, SpaceX expects to get roughly equal amounts of revenue from rocket launches and from satellite internet, about $3 billion each. Profits are expected to leap to $2 billion -- 33% of revenue.

And this is just the beginning. SpaceX expects its revenue from satellite internet to grow by leaps and bounds from 2020 on, eclipsing revenue from rocket launches in 2021. SpaceX expects that by 2022, satellite revenue will account for roughly 75% of all revenue the company collects, then grow to more than 80% in 2023, and to 85% or more in 2024 and 2025-- by which time SpaceX expects to be regularly landing astronauts on Mars.

You might expect that once SpaceX has begun its Mars colonization project, the company would lose interest in the workaday business of merely lofting satellites into Earth orbit -- and you'd be right.

SpaceX's rocket launch plans got knocked off track by its twin SpaceXplosions in 2015 and 2016. But before those plans went askew, the company had mapped out a surprising future for its rocket launch program. Starting off from a base of zero launches in 2011, SpaceX planned to steadily increase the pace of launches through 2019. SpaceX had 27 launches slated for this year, for example. That number would grow to 44 launches in 2018, and then 52 in 2019. But in 2020, satellite launch activity would suddenly reverse course, and fall to just 41 launches.

At the same time, SpaceX projects modest increases in launch revenue even after 2020. The logical conclusion is that by 2020, what few rockets SpaceX is still launching will be bigger, and more expensive, and will carry bigger, more expensive satellites, too -- just not as many of them.

As we explained last week, SpaceX's internal documents show that even in the best of years, it has been only marginally profitable, and is not profitable at all at present. Introducing reusable rocket launches, as the company plans to do this month, holds the potential to put SpaceX back in the black. But significant profits -- the kind that can finance the colonization of Mars -- will depend on the company's successful deployment and operation of a constellation of broadband internet satellites.

Based on the numbers laid out above, SpaceX appears to be targeting operating profit margins of 33% once its satellites begin operating in 2020. Operating profits could total $4 billion by 2021 (a profit margin of more than 40% on projected revenue of about $9.5 billion). Margins will top 50% by 2022 -- then soar into the mid-50s range in 2023, and finally top out at better than 60% by 2025. At that point, SpaceX expects to be collecting $36 billion in annual revenue -- almost all of it from satellites -- and earning roughly $22 billion in operating profit. To put that final goal in context, $22 billion in profit is 11 times more than the $1 billion in revenue that SpaceX collected in 2014, its best revenue year ever.

Logical conclusion: If SpaceX can bring its broadband satellite internet project to fruition, SpaceX stock could turn out to be a very profitable investment. But if you're planning to invest in SpaceX, you need to do it for the satellite business (which doesn't exist yet), and not for the rocket launch business that does exist.

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Bohemia’s Take On Mars leaves Steam Early Access, gets launch trailer – DSOGaming (blog)

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Bohemia Interactive has announced the official release of Take On Mars. In order to celebrate this announcement, Bohemia released the games launch trailer, highlighting the many benefits of playing Take On Mars over alternative options of space exploration.

Take On Mars places you right in the middle of mankinds most exciting undertaking. Start out in the seat of a rover operator, finish as the first human to have ever set foot on Mars. With a scientific arsenal at your disposal, you will pioneer the exploration, and colonization, of the Red Planet.

Starting out as mod for Carrier Command: Gaea Mission, Take On Mars began life as a passion project by Project Lead Martin Melichrek, who was already working at Bohemia Interactive at the time.

Take On Mars Project Lead Martin Melichrek said:

For as long as I can remember Ive been fascinated with space exploration, and particularly Mars. Being able to make this game has been like a dream come true. It took a bit longer than anticipated, and its been wild ride thats tested the patience of both us and our Early Access subscribers, but, it was a ride worth taking. We, as a team, thank all of our loyal fans, those who have never doubted us, in helping us make this dream a reality!

Here are the games key features:

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DNA repaira new letter in the cell alphabet – Phys.Org

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February 13, 2017 by Dr. Maren Berghoff A complex tag for DNA-repair: 3D cartoon showing the linkage of ADP-ribose to the amino acid serine in a protein (turquoise). Credit: Max Planck Institute for Biology of Ageing

Cells need to repair damaged DNA in our genes to prevent the development of cancer and other diseases. Our cells therefore activate and send "repair-proteins" to the damaged parts within the DNA. To do this, an elaborate protein language has evolved. Now scientists from the Max Planck Institute for Biology of Ageing in Cologne have discovered the way a new letter of this alphabet is used in cells. This novel protein modification, called serine ADP-ribosylation, has been overlooked by scientists for decades. This finding reveals how important discoveries may be hidden in scientific "blind spots."

In basic science, one often starts a new research project by trying to reproduce, confirm and build upon what others have shown before. This was exactly what a young team of scientists did, led by Ivan Matic, research group leader at the Max Planck Institute for Biology of Ageing, in collaboration with the group of Ivan Ahel at the University of Oxford. The end result was that the team found a new mechanism, turning some old discoveries upside down.

The research group investigates how the cell determines the fate of specific proteins using tags, so called "post-translational modifications." These are small chemical flags, added to proteins in order to activate them and make them functional. They function as letters of a coding alphabet that the cell can use to determine what to do with a specific protein, for instance sending it off to the cell nucleus to repair damage to our genes. "We were investigating one of the most complex tags, which is known as adenosine diphosphate ribosylation (ADPr). Researchers in the field have thought for many years that this tag is added to particular parts of proteins - the amino acids glutamate, aspartate, arginine and lysine. However, when we looked deeply into the data, we always saw the amino acid serine very close by, which made us very suspicious. After a long time of struggling we could show, that actually the amino acid serine is tagged," explains Matic.

The devil is in the details

For non-scientists this may seem like a small detail. But in the cell "factory" this is an important mechanism. It is like discovering a new letter to an alphabet you thought you knew namely the alphabet the cell uses for sending internal messages. The research team could show that this modification plays a crucial role for repairing DNA damage a process that they can now start to decode. Damage in our DNA can cause mutations that lead to a variety of diseases, such as cancer or neurodegeneration. This damage is inevitable, and repairing it is essential for any organism, including humans. Having discovered this new letter in the cell's alphabet, the research team has now also described its molecular mechanism and shown that its usage is widespread. "We found that this modification is particularly utilized by processes important for genome stability. This research opens up new possibilities to improve and increase the efficiency of the DNA repair machinery," comments Juan Jos Bonfiglio, a researcher in the group of Ivan Matic

The blind spot

But how can it happen that this modification has been overlooked for so many years? Tom Colby, a scientist working in the Matic group tries to explain: "Scientists today are supposed to produce and analyse large amounts of data. That means that you rely on pre-developed tools and apply them to biological systems. But the problem is that these tools are sometimes built on assumptions that can cause blind spots. The most interesting results are sometimes hidden in the blind spots nobody thinks of." Matic adds to this: "I am old-fashioned. I like to step back and look at the original data in detail. Without this we would have overlooked this new modification as people did in the years before."

Explore further: Plant regulatory proteins 'tagged' with sugar

More information: Juan Jos Bonfiglio et al. Serine ADP-Ribosylation Depends on HPF1, Molecular Cell (2017). DOI: 10.1016/j.molcel.2017.01.003

Orsolya Leidecker et al. Serine is a new target residue for endogenous ADP-ribosylation on histones, Nature Chemical Biology (2016). DOI: 10.1038/nchembio.2180

New work from Carnegie's Shouling Xu and Zhiyong Wang reveals that the process of synthesizing many important master proteins in plants involves extensive modification, or "tagging" by sugars after the protein is assembled. ...

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Cells need to repair damaged DNA in our genes to prevent the development of cancer and other diseases. Our cells therefore activate and send "repair-proteins" to the damaged parts within the DNA. To do this, an elaborate ...

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