Bitcoin surges above $5,000


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Bitcoin surged on Thursday morning, blowing past $5,000 for the first time and setting a new record price above $5,200.

The rise is remarkable because there has been quite a bit of unfavorable news about Bitcoin in recent weeks. China, one of the biggest markets for Bitcoin, is shutting down trading. The Bitcoin community faces ongoing acrimony over how to scale the Bitcoin network. A contentious fork split the Bitcoin network in two in August, and there might be another schism in the Bitcoin community come November.

Finally, many experts believe that the broader blockchain world is in the middle of an unsustainable bubble. If that bubble pops, Bitcoin’s price is likely to fall with it.

So what explains Bitcoin’s rise? One factor may simply be that the blockchain bubble hasn’t run its course. People are continuing to hold “initial coin offerings” of newly invented cryptocurrencies. Despite a falling Bitcoin price last month, ICOs raised more than $600 million in September, according to data from CoinSchedule.

A healthy ICO market creates demand for Bitcoin because Bitcoin is often used as an intermediary currency for token sales. Legal and logistical barriers make it difficult to sell a newly-created cryptocurrency for conventional currencies like dollars or euros. But it’s relatively easy to sell a new cryptocurrency in exchange for Bitcoin. So people wanting to participate in ICOs often need to buy bitcoins first, pushing up Bitcoin’s price.

Another possible reason for Bitcoin’s rise: the market might actually see forks as a good thing. The August fork split the Bitcoin network in half, creating a new cryptocurrency called Bitcoin Cash that was a perfect copy of the original Bitcoin network—including its transaction history. Anyone who owned one Bitcoin before the fork owned one Bitcoin after the fork and one unit of Bitcoin Cash. And surprisingly, the combined value of these two currencies was higher than Bitcoin had been worth prior to the fork.

So the market may be shrugging off the possibility of another fork in November because it doesn’t expect another fork to hurt Bitcoin’s value. In fact, it might make holders of existing Bitcoins richer.

A final factor driving Bitcoin’s growth: increasing interest from mainstream financial institutions. For example, rumors circulated last week that Goldman Sachs was preparing to open a “Bitcoin desk” for trading cryptocurrency. Speculators may be bidding up Bitcoin’s price in anticipation of greater demand from Wall Street in the coming months.

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Equifax website borked again, this time to redirect to fake Flash update

Randy Abrams


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In May credit reporting service Equifax’s website was breached by attackers who eventually made off with Social Security numbers, names, and a dizzying amount of other details for some 145.5 million US consumers. For several hours on Wednesday the site was compromised again, this time to deliver fraudulent Adobe Flash updates, which when clicked, infected visitors’ computers with adware that was detected by only three of 65 antivirus providers.

Randy Abrams, an independent security analyst by day, happened to visit the site Wednesday evening to contest what he said was false information he had just found on his credit report. Eventually, his browser opened up a page on the domain hxxp:centerbluray.info that looked like this:

Randy Abrams

He was understandably incredulous. The site that previously gave up personal data for virtually every US person with a credit history was once again under the control of attackers, this time trying to trick Equifax visitors into installing crapware Symantec calls Adware.Eorezo. Knowing a thing or two about drive-by campaigns, Abrams figured the chances were slim he’d see the download on follow-on visits. To fly under the radar, attackers frequently serve the downloads to only a select number of visitors, and then only once.

Abrams tried anyway, and to his amazement, he encountered the bogus Flash download links on at least three subsequent visits. The picture above this post is the higher-resolution screenshot he captured during one visit. He also provided the video below. It shows an Equifax page redirecting the browser to at least four domains before finally opening the Flash download at the same centerbluray.info page.

VIDEO

Equifax Flash Download

The file that got delivered when Abrams clicked through is called MediaDownloaderIron.exe. This VirusTotal entry shows only Panda, Symantec, and Webroot detecting the file as adware. This separate malware analysis from Packet Security shows the code is highly obfuscated and takes pains to conceal itself from reverse engineering. Malwarebytes flagged the centerbluray.info site as one that pushes malware, while both Eset and Avira provided similar malware warnings for one of the intermediate domains, newcyclevaults.com.

Randy Abrams

Malvertising?

It’s not yet clear precisely how the Flash download page got displayed. It’s possible Equifax was running ads through a third-party network and those are responsible for the redirects. But even if that’s true, the net result is that the site is arguably compromised in some way, since administrators can’t control the pages visitors see when they’re trying to use key functions, some which require visitors to enter Social Security numbers.

Several hours after this post went live, an Ars reader e-mailed to say he recently encountered a sketchy ad when putting a temporary fraud alert on his Equifax file. The reader wrote:

When I clicked it (from Gmail on Android) I was redirected to a spam page shortly after seeing the Equifax credit file form. I thought maybe it was an anomaly because it didn’t happen again. But after reading your article about how sometimes hacks will redirect randomly I tried the link again just now and sure enough I got a spam page again (lucksupply.club saying I won an iPhone X). This is Chrome-in-a-tab from Gmail so i don’t believe there’s any extensions or other malware on my device that could have caused this redirect.


In the hour this post was being reported and written, Abrams was unable to reproduce the redirects leading to the malicious download. It’s possible Equifax has cleaned up its site. It’s also possible the attackers have shut down for the night and have the ability to return at will to visit still worse misfortunes on visitors. Equifax representatives didn’t respond to an e-mail that included a link to the video and sought comment for this post.

Post updated at 6:18 am and 7:10 am 10/12/2017 Pacific time to discuss ad networks and add details of ad served on reader.

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Oculus Announces Oculus Go: Untethered VR For $199 USD

Today, Facebook owned Oculus announced their follow up to the Oculus Rift VR headset, and they’ve decided to make the entry point to Oculus VR much easier to access. At $199, the new Oculus Go is significantly undercutting the $599 launch price of the Rift, which has seen its own price cut to $399 since it launched about a year and a half ago. But the Go is not just a less expensive version of the Rift. It’s a self-contained VR system, providing untethered VR capabilities.

Despite the lower price, the Go has a higher resolution display than the Rift. The Go features a 2560×1440 “Fast-switch” LCD display, which is a bump up from the 2160×1200 combined resolution of the two OLED displays in the Rift. Fast-Switch likely means a higher refresh rate, but no specifications have been announced yet to see how it compared to the 90 Hz of the Rift. Oculus is also promoting the optical lenses are new and improved for the Go, offering a wider field of view and less glare. The LCD display and new lenses should help with the screen door effect that is present on VR headsets, but we’re still a long way from having the processing power to remove this completely.

Oculus Go also includes integrated spatial audio, which is one of the big features Oculus promoted on the Rift when it launched. The speakers are built-in to the sides of the headset, so no extra equipment is necessary. They have had the courage though to add a 3.5mm headphone jack, if you want to listen privately.

Go and Gear are "binary compatible" so any apps that work on Gear, should work on Go. It’s helpful to have an ecosystem when you’re launching a new product.

The new headset is made of a new breathable cloth, for improved comfort, and the Go can be used with glasses.

Unlike the Rift, the untethered nature of the Go means that it won’t have the full tracking capabilities, but that can be a benefit as well since not everyone has a dedicated location they can leverage VR. At the outset, the Go seems like a well priced, capable VR headset, and although it won’t have the gaming potential of a full PC behind it, the capabilities of a smartphone SoC have been improving dramatically over the years. Unfortunately Facebook / Oculus hasn’t announced what is actually powering the Go, so we’ll have to wait and see how much performance they can get for $199. Tomshardware is reporting it’s a Snapdragon 821.

The Oculus Go ships early next year.

Source: Oculus Blog

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Western Digital Stuns Storage Industry with MAMR Breakthrough for Next-Gen HDDs

Yesterday, Western Digital announced a breakthrough in microwave-assisted magnetic recording (MAMR) that completely took the storage industry by surprise. The takeaway was that Western Digital would be using MAMR instead of HAMR for driving up hard drive capacities over the next decade. Before going into the specifics, it is beneficial to have some background on the motivation behind MAMR.

​Hard drives may be on the way out for client computing systems, but, they will continue to be the storage media of choice for datacenters. The Storage Networking Industry Association has the best resources for identifying trends in the hard drive industry. As recently as last year, heat-assisted magnetic recording (HAMR) was expected to be the technology update responsible for increasing hard drive capacities.


Slide Courtesy: Dr.Ed Grochowski’s SNIA 2016 Storage Developer Conference Presentation 
‘The Magnetic Hard Disk Drive: Today’s Technical Status and Its Future’ (Video, PDF)

Mechnanical Hard Drives are Here to Stay

One of the common misconceptions amongst readers focused on consumer technology relates to flash / SSDs rendering HDDs obsolete. While using SSDs over HDDs is definitely true in the client computing ecosystem, it is different for bulk storage. Bulk storage in the data center, as well as the consumer market, will continue to rely on mechanical hard drives for the foreseeable future.

The main reason lies in the ‘Cost per GB’ metric.

Home consumers are currently looking at drives to hold 10 TB+ of data, while datacenters are looking to optimize their ‘Total Cost of Ownership’ (TCO) by cramming as many petabytes as possible in a single rack. This is particularly prevalant for cold storage and archival purposes, but can also expand to content delivery networks. Western Digital had a couple of slides in their launch presentation yesterday that point towards hard drives continuing to enjoy this advantage, thanks to MAMR being cost-effective.

Despite new HDD technology, advancements in solid state memory technology are running at a faster pace. As a result SSD technology and NAND Flash have ensured that performance enterprise HDDs will make up only a very minor part of the total storage capacity each year in the enterprise segment.

The projections presented by any vendor’s internal research team always need to be taken with a grain of salt, but given that SanDisk is now a part of Western Digital the above market share numbers for different storage types seem entirely plausible.

In the next section, we take a look at advancements in hard drive technology over the last couple of decades. This will provide further technical context to the MAMR announcement from Western Digital.

 

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Explosive stories expose mogul’s power

The mounting allegations against Harvey Weinstein — ranging from sexual harassment to rape — have been accompanied by other anecdotes that help explain how the powerful Hollywood producer kept his dark secrets under wraps for so long.

Explosive stories published in the last week reveal the extent to which Weinstein reportedly intimidated his victims into silence, and used his clout to keep negative stories out of the headlines.

Ronan Farrow, the author a bombshell New Yorker story on Tuesday that included rape allegations against Weinstein, said that he was threatened personally with a lawsuit during the course of his reporting.

The New York Times was hit with its own legal threat from Weinstein’s attorney last week after the newspaper brought the sexual misconduct allegations to light for the first time. Weinstein was fired by the board of his company days after the story was published.

The New Yorker declined to comment on whether it also faced the threat of a lawsuit. But whether there were lawsuit threats or not, both stories were published days after one another, bringing an end to the power that Weinstein wields over the media.

“I will say that over many years, many news organizations have circled this story and faced a great deal of pressure in doing so,” Farrow said during an appearance on MSNBC on Tuesday night.

Farrow wrote in his piece that Weinstein and his legal team “have threatened to sue multiple media outlets.”

A representative for Weinstein did not respond to a request for comment.

While Weinstein succeeded for years in keeping many allegations from being reported, one of the women who did speak up found herself dragged in the press.

After Ambra Battilana Gutierrez filed a sexual assault complaint against Weinstein in 2015, the young model’s past was soon the subject of unflattering stories in the New York Post’s Page Six, according to the New Yorker.

A day after she filed the complaint, Gutierrez got Weinstein to admit to groping her on tape as part of a sting operation orchestrated by the New York Police Department, but no charges were brought. Audio of Gutierrez’s interaction with Weinstein was published in Farrow’s story on Tuesday.

Related: How NBC gave up Ronan Farrow’s explosive Harvey Weinstein scoop

NBC News, where Farrow serves as a contributor, has come under scrutiny over its decision to not run the piece that was ultimately published by the New Yorker.

The network has defended its decision by saying the piece wasn’t publishable at the time it was submitted to them, a charge that Farrow disputed.

“I walked into the door at The New Yorker with an explosively reportable piece that should have been public earlier. And immediately, obviously, The New Yorker recognized that,” Farrow said Tuesday night. “And it is not accurate to say that it was not reportable. In fact, there were multiple determinations that it was reportable at NBC.”

The news division’s president Noah Oppenheim said that “we didn’t feel that we had all the elements that we needed to air it,” so Farrow “took it to The New Yorker and did a ton more extraordinary work.”

Unchecked influence over the media

The New York Times has also faced tough questions after a former reporter, Sharon Waxman, claimed last week that the newspaper “gutted” a story she had written in 2004 about sexual harassment allegations against Weinstein. The Times top editors at the time, Bill Keller and Jill Abramson, said they have no recollection of facing pressure over the story.

In his story, Farrow cited multiple sources, who said that “Weinstein frequently bragged about planting items in media outlets about those who spoke against him.”

Media columnist Margaret Sullivan revealed Wednesday that “negative information about one of Weinstein’s accusers” was offered to a reporter at her newspaper, The Washington Post, just as the New York Times readied its story for publication last week.

“The timing could, of course, be coincidental,” wrote Sullivan, “but seems suspicious and tracks with Weinstein’s well-known practices.”

The public is getting a clearer picture of some of those practices thanks to the deluge of reporting on Weinstein this week. The Daily Beast’s Lloyd Grove, a longtime New York City tabloid reporter, recounted in a Daily Beast story published Wednesday how Weinstein once attempted to kill a story about his divorce.

Grove wrote that Weinstein “wheedled that he was my most loyal fan and had advised the paper’s owner to give me a raise.” When Grove — who wrote a gossip column for the New York Daily News at the time — declined, Weinstein threatened to ban the reporter from screenings and premieres.

“I’m the scariest mother—— you’ll ever have as an enemy in this town!” Grove recalled Weinstein saying.

Grove might not have buckled, but other reporters apparently have.

Writing for New York magazine last week, Rebecca Traister recalled her own encounters with Weinstein in 2000.

“Back then, Harvey could spin — or suppress — anything; there were so many journalists on his payroll, working as consultants on movie projects, or as screenwriters, or for his magazine,” Traister wrote.

Traister said that at a book party that year, her boyfriend at the time tried to defend her against Weinstein when the mogul erupted into an expletive-laden outburst over a question she asked about one of his movies.

Tina Brown, the former editor of the New Yorker who founded Talk magazine with Weinstein’s movie company Miramax, wrote in a story published Tuesday that Weinstein had numerous media scribes at his disposal.

“It was startling — and professionally mortifying — to discover how many hacks writing gossip columns or entertainment coverage were on the Miramax payroll with a ‘consultancy’ or a ‘development deal’ (one even at The New York Times),” Brown wrote.

It remains unclear who those “hacks” are, but their names — like the damning allegations that have been brought against Weinstein — may still emerge, bit by bit.

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