Daily Archives: April 2, 2017

Trackers could unmask dark web users who think they’re … – New Scientist

Posted: April 2, 2017 at 7:39 am

Taking a Tor of the dark web isnt so anonymous

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By Edd Gent

Dark web users may not be as anonymous as they think.

There are a high number of potentially privacy-busting connections between the dark web hidden online networks that require special software to access and the regular surface web, say privacy researchers.

The dark web is maybe not as dark as it seems, says Iskander Sanchez-Rola at the University of Deusto, Spain, who led the investigation into the Tor network, a dark web network that uses encryption to conceal users identity.

The group found close links between the dark web and surface web. More than 20 per cent of the 1.5 million dark web pages they analysed imported resources like pictures, documents and Javascript files from surface websites.

This raises potential privacy concerns, as owners of these resources can track when they are loaded by a user, giving them a window into the hidden domain. For example, Google could monitor traffic to 13 per cent of the domains in the studys dataset this way, the researchers say.

They also found tracking scripts, designed to analyse users browsing behaviour, on 27 per cent of the hidden pages they looked at. Nearly a third of these originated from the surface web, and 43 per cent of those were from Google.

Thats a problem, says Sanchez-Rola, because if a dark web service uses the same script as a site on the surface web, anyone using it could start tracking a users activity and potentially identify them when they visit less private sites. The researchers will present their work at the World Wide Web Conference in Perth, Australia, next week.

Those using Tor proxies services on the surface web that act as gateways to the dark web, like the popular Tor2Web are most at risk. These services can already see users IP addresses, but the links between the dark web and surface web mean that third parties could also access that information. If a user opens a dark web page that features a surface web resource through a proxy, their browser fetches this resource in the normal way, bypassing the anonymisation network. Using the Tor Browser to access the dark web offers better privacy protection, says Sanchez-Rola.

It is also better at protecting against web tracking, but only if users switch on script blocking, which can cause sites to malfunction.

This research has demonstrated for the first time how much of the dark web is intrinsically linked to the surface or clear web, says security researcher Sarah Jamie Lewis.

Her OnionScan tool, which probes dark web services for vulnerabilities, has found security issues that can de-anonymise up to 35 per cent of dark web servers, but she says there has been little action from site operators. The new research is a wake-up call for hosts to stop relying on third-party trackers and scripts that can put both users and themselves at risk, she says.

Read more: Why the dark net is more resilient to attack than the internet

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Cryptocurrency Certification Consortium to Standardize Security across Crypto-Platforms – newsBTC

Posted: at 7:38 am

Cryptocurrency Certification Consortium has recently released Cryptocurrency Standard Security guidelines for the entire crypto-industry. Read more...

The number of hacking incidents involving cryptocurrency exchanges until now shows that the security features implemented by many platforms arent enough and are in need of an overhaul. If it is indeed true, then the recent initiative of the Cryptocurrency Certification Consortium is a welcome development for many community members.

The consortium has recently introduced a security guidance Cryptocurrency Security Standard, suggesting the implementation of best security practices by Bitcoin and other crypto-exchange platforms across the world. The guidance draft is designed to introduce new security features while augmenting the existing standards adopted by many exchanges and trading platforms. Some of the features presented by the Cryptocurrency Certification Consortium includes advanced authentication procedures, multiple signature techniques, and decentralized storage methods.

The proposed Cryptocurrency Security Standard will be a one-size-fits-all solution that can be followed by any digital currency platform to secure user funds irrespective of the business nature. Many cryptocurrency platforms have already adopted multi-factor authentication systems for additional security, and few make it compulsory for the users to enable 2FA to operate their accounts.

Also, the multi-signature feature, which requires two or more users/devices to confirm transactions is offered by many wallet service providers. While multi-signature wallets are prevalent, it is yet to be implemented by a majority of Bitcoin exchanges and trade platforms. The draft also suggests wallets on cryptocurrency platforms to be encrypted and frequently backed up to ensure that the access to cryptocurrency deposits is not lost in the case of hardware or software failure.

Since the hacking incidents, cryptocurrency platforms are increasingly using cold storage/wallets to store a majority of the user funds, while maintaining a minimum required liquidity in hot wallets. The adoption of such practices has limited the risk of exposure to external attacks, cutting down losses in the event of hacking incidents.

The security standard also makes allowance for certain procedures to be invoked in the instance where the keys are compromised or lost. The consortium has also given consideration to policies for access control involving cryptographic keys. These policies are put in place to help organizations in the eventuality of the security compromised by either an insider or a hacker who might have gained access to the keys.

A combination of security features, contingencies and regular security audits makes the new Cryptocurrency Security Standard useful for crypto-platforms. The wider adoption of these security practices will help exchange platforms, both big and small to operate without compromising the safety of both users and platforms cryptocurrency deposits.

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Bill making cryptocurrencies legal way of payment comes into force … – RT

Posted: at 7:38 am

Published time: 1 Apr, 2017 21:17Edited time: 1 Apr, 2017 21:18

New legislation authorizing digital currency as a legal payment method has come into force in Japan.

The text of the law was releasedby Japans Financial Services Agency on March, 24.

Read more

Earlier this week, the Accounting Standards Board of Japan said that it would begin work on the creation of a framework to help understand how digital currency would be dealt with in the accounting sector. The process is expected to take six months, according to Nikkei.

Big business is especially concerned; since the country has failed to provide guidelines regarding the accounting process when dealing with cryptocurrencies.

There is a risk that companies that hold virtual currency could turn out to have distorted valuations or that huge losses surface suddenly, Chikako Suzuki, partner at PricewaterhouseCoopers Aarata, told Nikkei Asian Review.

Around $1.7 billion of cryptocurrency, including bitcoin, Ripple, Litecoin and others, was in circulation across Japan two years ago. The 2020 projection is set to be at $9 billion, according to a Fuji Chimera Research Institute study.

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The set of measures, that now has come into force, was drafted as far back as 2015 and passed in 2016 after a year of negotiations. Uncertainty over the legal status of virtual currency was stirred after a multi-million dollar embezzlement scandal and the collapse of the Tokyo-based Mt.Gox Bitcoin exchange.

Mt.Gox, once largest exchange service for the cryptocurrency, collapsed in 2014 when 850,000 coins ($480 million at the time) went off its digital vaults.

The company, which dealt with around 80 percent of global bitcoin transactions, admitted that there was a bug in their system that allowed hackers to steal the coins.

The new law outlines that all virtual currency exchanges are to be regulated by the Japanese Financial Services Agency. They must be registered with the financial watchdog and verify the identity of customers opening accounts.

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Indian Bitcoin Community Signs Petition Demanding Legal Status for Cryptocurrencies – newsBTC

Posted: at 7:38 am

The Indian cryptocurrency ecosystem recently woke up to a shocking news on leading media outlets. It was reported that the use of Bitcoin in the country is illegal and could attract penalties under anti-money laundering laws. However, the report was not entirely accurate, and the news platforms were quoting a Member of Parliament seeking the implementation of cryptocurrency regulations by calling Bitcoin a Ponzi scheme.

While the confusion was eventually cleared, the incident has sown the seeds of mistrust about the governments stance on the digital currency. Going by the example of few drastic decisions taken by the government in the past, they have come together to demand some clarity from the government regarding its stance on cryptocurrency. They have started an online signature campaign, petitioning the government to award a legal status for Bitcoin and other cryptocurrencies in the country.

The petition is probably the first strong public campaign organized by the recently formed Digital Asset and Blockchain Foundation of India. Addressed to Arun Jaitley Indias Finance Minister, Urjit Patel Governor of the Reserve Bank of India and S Selvakumar the Joint Secretary of the Department of Economics Affairs Room, the petition makes a mention of various benefits offered by Bitcoin and cryptocurrencies and how it can be used for the betterment of the country. Also, it asks the government to take steps towards stopping bad actors who misuse the cryptocurrency than banning the technology and its use.

The petition on Change.org also says,

Cryptocurrencies will be available irrespective and the illegal users do not care about its legal status. Please do not take hasty steps and prevent innovation, economic activity and jobs. This will only stop good uses of cryptocurrencies.

In a country which has a considerable percentage of the unbanked population and ranks at the top for receiving the highest remittance, Bitcoin can offer an efficient and inexpensive solution. The use of cryptocurrencies and their underlying technology will not only speed up the financial services sector but also a range of other industries. With the adoption of distributed ledger technology, the government can also combat rampant corruption and red tape. But strict cryptocurrency regulations will stifle progress in this regard, preventing the country from keeping up with the global trend.

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Can Cryptocurrency Be Stable Without Inflation? – CoinTelegraph

Posted: at 7:38 am


CoinTelegraph
Can Cryptocurrency Be Stable Without Inflation?
CoinTelegraph
There are strong reasons for why cryptocurrencies haven't tried tackling the problem of stability, mainly because it is not only difficult, it takes a really long time. This gets in the way of speculators who seek immediate gratification by selling ...

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Ethbits.com developing ‘Alternative Exchange’ for cryptocurrencies – Brave New Coin

Posted: at 7:38 am

Ethbits.com is raising funds to develop a platform designed to take LocalBitcoins style trading to the next level. The UK registered company has already developed a platform called Ethbits Local, which facilitates peer to peer online trades as well as face to face trades for a range of Cryptocurrencies.

LocalBitcoins was founded in June 2012 by Jeremias Kangas. The platform connects bitcoin buyers and sellers in an over-the-counter trading environment. Users request or offer the cryptocurrency for a fixed amount, and settle trades in person for cash, or online with bank transfers. By August 2016, LocalBitcoins had 1.35 million people from 249 countries using the platform, and trading in excess of US$14 million per week.

- Pravjit Singh, Ethbits.com Director, Founder & CEO

Ethbits Local will launch immediately after a Token Crowd Sale running from April 15th through to May 13th. The platforms token will be used by customers to pay site fees, while a planned integration with the payment cards like mycelium will allow the tokens to be spent around the world. The funds will help Ethbits.com enter the second phase of development, a trading exchange called iTrade.

Ethbits iTrade will launch in 2018, covering the top 15 cryptocurrencies. The trading platform revolves around a system known as copy trading, which enables traders in the financial markets to automatically copy positions opened and managed by a selected investor.

New traders benefit from the expertise and knowledge of experienced market gamers, who can amplify their profits based on their number of followers. Traders who work in our platform have the opportunity of earning a percentage of their followers profit and obtain power-ups to gain certain privileges, such as reduced fees, explains Ethbit.com Director, Founder & CEO Pravjit Singh.

ETHBITS iTrade will provide new users with all the information needed to decide whom to follow, including a full profile outlining profit and loss in different time frames and historical graphs of performance. Users can choose to be notified every time they copy a trade and can check the overall profit ratio for a certain period.

- Ethbits.com

Copy trading has led to the development of a new type of investment portfolio, which some industry insiders call "people-based" portfolios. People-based portfolios differ from traditional investment portfolios in that funds are invested in other traders, rather than traditional market-based instruments. The system has become increasingly popular in recent years.

Prominent copy trading providers include eToro, ZuluTrade, Cmstrader, and many more. eToro was founded in 2007, and is domiciled in Limassol, Cyprus. The platform is currently used by more than 5,000,000 traders. It is regulated by NFA, CySEC, ASIC, CFTC, MiFID, FCA and has been the recipient of several awards.

ZuluTrade was also founded in 2007, enables traders to share their knowledge with people interested in their strategies. In the strictest sense, ZuluTrade is considered a Forex autotrading platform, as it allows traders to automatically copy the trades of others into their own trading platform. Many also consider it a social trading platform, however, because traders can leave comments and feedback and see live feeds of other traders' activities.

Cmstrader is a relative newcomer to the Forex scene. Since opening its doors in 2013, it has won several international awards including one for being the leading Forex broker and for having best customer service in 2013. Cmstrader is headquartered in the UK and has service offices in Cyprus, Hong Kong, France and the Kingdom of Bahrain. It offers a host of features but most outstanding is its customer support which is provided in a number of ways including by remote control through team viewer, a high tech and timely system not offered by any other broker.

While there are many more platforms offering copy trade style trading, very few offer a variety of cryptocurrencies. Zulutrade and eToro offer trades on bitcoin, eToro recently added Ethereum. Ethbits aims to launch with the top 15 cryptocurrencies.

There will also be the option to Auto Trade, a feature that automatically follows the top traders based on their performance. Auto Trade will be implemented alongside a separate feature, the Ehtbits Investment Fund, which is managed by the company and will invest in leading cryptocurrencies.

While developers get to work, the CEO plans to move headquarters to Gibraltar, with a services office in the UK. Ethbits.com also has agreements to open offices in UK, France, Spain, China, USA and Australia. A full legal team will be hired to assist with expansion and legal compliance. The end goal is 20 offices across the globe.

- Ethbits.com

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Japan Officially Recognises Bitcoin as Currency Starting April 2017 … – newsBTC

Posted: at 7:37 am

Starting April 2017, Bitcoin in Japan receives the recognition of being a form of money. Read more...

Bitcoin has finally gained the recognition of a mainstream currency along the lines of other fiat currencies. The privilege follows the implementation of a new law in Japan which categorizes Bitcoin as a legal payment option within the country. The much-awaited law went into effect on April 1, 2017 (beginning of a new fiscal year in many countries).

With the new laws implementation, Bitcoin exchanges will also come under additional regulatory scrutiny. The recognition of cryptocurrency as a legal tender also means the applicability of regulations governing banks and financial institutions to cryptocurrency exchange platforms. They will be required to comply with strict anti-money laundering (AML) and Know Your Customer (KYC) requirements, along with annual audits. Other requirements include meeting the stated capital and cyber security requirements to ensure consumer protection.

The recognition of Bitcoin and other cryptocurrencies as legal payment instruments is good news for the global cryptocurrency ecosystem. Adoption of cryptocurrency is expected to increase among people, which will, in turn, drive demand and price.

However, reports indicate that the cryptocurrency platforms are still trying to figure out ways to achieve compliance with the new regulations. Recognizing the exchanges needs, the Accounting Standards Board of Japan has announced that it has started working on creating an accounting framework for both user and businesses dealing with cryptocurrencies.

It might take a while before companies and individuals get acquainted with the accounting practices, which has raised concerns about legal implications of inaccurate reportings/filings due to lack of understanding. Also, few publications have raised concerns about the volatility of Bitcoin and other cryptocurrencies and how it might impact those making cryptocurrency transactions.

The new developments are expected to drive the cryptocurrency usage in Japan to over $9 billion in the next three years (2020), which is more than five times the 2015s $1.7 billion worth of cryptocurrencies in circulation.

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Bitcoin: Coinbase Is Like Goldman Sachs, VC Fred Wilson Says … – Fortune

Posted: at 7:37 am

Fred Wilson , the venture capitalist known for backing Twitter ( twtr ) and Tumblr, has made a big bet on blockchain cryptocurrencies including Bitcoinand he thinks regular investors should buy some too.

Speaking Thursday at a conference hosted by StockTwits , the social network for stock traders, Wilson said the equivalent of a Wall Street bank now exists for the digital currencies, in what is otherwise a Wild West: Coinbase, the Bitcoin and Ethereum brokerage that has recently come under fire for the apparent failure of its investors to disclose their profits to the IRS .

Coinbase was Wilson's very first investment in Bitcoin and now has a reported valuation of more than $400 million . "They're like J.P. Morgan or Goldman Sachs for blockchain," he said at the event, called Stocktoberfest East.

Not only has Wilson's Union Square Ventures backed several blockchain companies, but the VC has also personally bought cryptocurrencies including Bitcoin and Ethereum as well as a bit of Litecoin, representing "some small percentage of my net worth," he said.

If I were a trader, a stock trader or hedge fund person, I might think of having 5% of my assets in something like this, Wilson added. Its still early days; I dont think you want to go all in on it, but I think you want to be in it.

Earlier that day, he said, a retail investor had emailed him wanting to invest in private startups, wondering how to put money into Union Square Ventures. But Wilson had to inform the man, who made $50,000 a year, that he was not wealthy or experienced enough to qualify as an accredited investor and was therefore prohibited by law from investing in startup companies before they went public.

Wilson was able to give him an alternative recommendation: Buy Bitcoin instead. The cool thing, Wilson said about Coinbase, is that anybody can buyaccredited or not.

The accessibility of Bitcoin and other cryptocurrencies, however, has also raised questions as to whether the average investor should own the assets, which are not only unusually volatile but vulnerable to risks including theft via cyberattack, leaving many Bitcoin buyers burned.

Yet that's where Coinbase has an advantage, and why blockchain investors will see it as a safe haven akin to Goldman Sachs ( gs ) or J.P. Morgan ( jpm ) in a world of robber barons, Wilson said.

"If you look at what they are world class at, it's security, trust, safety, fraudall these things that frankly banks are good at," he said. "If you go back to the 19th century, banks got robbed a lot, and the truth of the matter is, most companies like Coinbase have gotten robbed, because it's pretty easy to rob these companiesyou hack in, you take the Bitcoin, and you get in the car and you drive away."

That's not to say that other problems won't arise among Bitcoin traders on Coinbase, just as they did in the early days of Wall Street, and still continue to a lesser extent. "Were going to have all the same things that happenedwere going to have pump and dump, front-running, all the things that people did," Wilson acknowledged. "There are some people who are going to use it as a way to defraud people. But I think a lot of people should do it for the right reasons."

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Bitcoin Price Weekly Analysis BTC/USD Breaks Higher – newsBTC

Posted: at 7:37 am

Bitcoin price after a sharp correction against the US Dollar found support near $960, and now BTC/USD is trading above $1000 with a positive bias.

Bitcoin price after a sharp correction against the US Dollar found support near $960, and now BTC/USD is trading above $1000 with a positive bias.

This past week, we saw a dive in BTC price towards $980 against the US Dollar. Later, the price found support and managed to recover above $1000. However, there was a major hurdle near $1040, as highlighted in this past weeks analysis. The same level represented the 61.8% Fib retracement level of the last decline from the $1120 high to $889 low. Moreover, the 100 simple moving average (4H) was aligned at $1030. The price was able to break these hurdles for an upside move.

The most important break was above two bearish trend lines with resistance near $1010-1030 on the 4-hours chart (data feed from SimpleFX) of BTC/USD. It has opened the doors for more gains in the near term. The price is lacking momentum at this moment above $1100. So, there is a chance of a minor dip towards the 23.6% Fib retracement level of the last wave from the $889 low to $1104 high.

The same broken resistance near $1040-20 might now act as a support and prevent losses. Buying dips may be a good idea as long as the price is above the 100 simple moving average (4H) and $1020.

Looking at the technical indicators:

4-hours MACD The MACD is now well placed into the bullish slope.

4-hours RSI (Relative Strength Index) The RSI is comfortably moving above the 50 level.

Major Support Level $1020

Major Resistance Level $1100

Charts courtesy SimpleFX

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Photo Studio MAGNET Director Stanislav Beloglazov Sees Merit in Bitcoin – The Merkle

Posted: at 7:37 am

Bitcoin allows anyone in the world to pursue their dreams. Some people prefer to do graphic design for companies all around the world and get paid in bitcoin, whereas others will take the photography route. Stanislav Beloglazov is the director and photographer of photo studio MAGNET, and he started accepting bitcoin payments not too long ago.

People all over the world are starting to pay close attention to bitcoin. Slowly but surely, the masses start to realize cryptocurrency has unlimited potential, especially when it comes to dealing with international clients and payments. Moreover, bitcoin allows people to create a budget for tasks they need to have completed, regardless of where their employee is located. Using traditional finance for international payments is expensive and time-consuming, whereas bitcoin solves all of these problems.

Keeping all of that in mind, it makes sense for photographers to look into bitcoin and even accept it as a payment method. That is exactly what Stanislav Beloglazov has done, as he saw the potential presented by bitcoin payments. It allows Beloglazov to attract more clients from all over the world, as photography is not limited to operating in ones native region by any means.

Moreover, Beloglazov no longer has to deal with converting foreign currencies and so forth. Bitcoin is a global form of transferring value, regardless of country borders. For anyone who ventures into the world of photography and art, bitcoin opens up a whole new world of potential clients. Stanislav accepts bitcoin for his photo shoots, photo art, and skills learning services. It is refreshing to see artists do what they love without being bogged down by the traditional financial ecosystem.

It has to be said, Beloglazov takes photography to a whole new level. His work can be found on Instagram and Facebook, where he shares some very beautiful photographs with the rest of the world. He also has over 4,450 followers on Instagram, indicating he is quite the upcoming talent in the photography world. A picture says more than a thousand words, and truer words have never been spoken.

It is also worth nothing Beloglazov is the director of photo studio MAGNET. This goes to show a full-fledged professional photo studio has seen the benefits provided by bitcoin, which is a significant nod of approval for cryptocurrency in general. Even though bitcoin has been off to a somewhat rocky start, this new form of conducting finance continues to gain traction on a global scale.

In the end, it is good to see professionals and freelancers give bitcoin credit where credit is due. Combining ones passion with a limitless payment solution creates an invaluable experience. Whether it is photography, art, or any other type of business activity, exploring the bitcoin option is more than worth it. Stanislav Beloglazov is leading the charge in this regard, and we can only hope more creative people see things from his point of view moving forward.

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