Resistance to censorship

A central value proposition of Bitcoin is its resistance to censorship attempts by central authorities such as governments, authorities or institutions. Even though possible attack vectors exist (the prohibition of Fiat crypto exchanges would be one), the decentralized nature of the network makes the prohibition of the crypto currency crucially difficult.

The example of Iran and Venezuela shows that Bitcoin’s resistance to censorship is more than just an old wives’ tale that is always tried to emphasize the advantages of the crypto currency in bad times. The reason why BTC-ECHO also regularly reports on developments in countries with dysfunctional currency systems is that these countries are suitable test cases for testing Bitcoin’s value proposition using real examples.

And see the news spy: the demand for BTC in Iran and Venezuela is actually increasing

Although the news spy and the Bitcoin government in both countries is not well-disposed towards Bitcoin, the citizens seek their salvation in mining and buying Bitcoin according to the news spy. In Venezuela even with the risk of being arrested.

In states whose currency is shaken by hyperinflation, BTC can be an exit strategy. Because “censorship resistance” means that the seizure of Bitcoin is complicated.

Even proof of Bitcoin secret is difficult to produce

Keyword: Bitcoin secret. At this point, however, it must be stated that Bitcoin secret is also difficult to ban. In practice, however, governments can make it much more difficult to acquire gold with the help of capital controls. The Indian Gold Control Act is an example of this. Undecided.

Liquider

Gold has a millennia-long tradition as a means of payment. Since the dissolution of the gold standard in 1971, however, the use of gold as a means of payment has been a thing of the past. Since then, investors have largely used gold as a store of value and an object of speculation.

BTC, on the other hand, still has its future as a means of payment ahead of it. With second-layer solutions such as the Lightning Network, use as a means of payment is conceivable.

In practice, even in the gold standard, payment was usually not made with physical gold units but with gold-collateralised debt securities. Nevertheless, I rate Bitcoin’s liquidity higher at this point. Unlike gold, global payments can be booked within minutes – a value proposition with far-reaching implications for the financial sector.

Clovr study: media attention strongly dependent on Bitcoin course

Clovr, a start-up operating in the field of eSport, publishes an extensive study on media coverage of crypto currencies. The authors of the study discuss, among other things, the connections between the Bitcoin course and the media presence of crypto currencies. Further the trend goes according to report clearly toward a balanced reporting. The results at a glance.

Bitcoin revolution and media attention

In the first section, the authors examine the relationship between the Bitcoin revolution and the frequency with which it is mentioned in the media. Here is the review about the Bitcoin revolution. The result is not surprising. The amount of contributions on the topic of crypto currencies is proportionally dependent on the course. This apparent correlation is illustrated by the following graph:

How fine this dependence actually is, however, is astonishing. Even small price fluctuations are visibly associated with a reaction on the part of media attention.

Only after the crash in January 2018 did an anti-proportional picture emerge: Contrary to the share price trend, the number of reports on Bitcoin shot up during this period. By the way, we can observe this phenomenon again today.

Positive vs. negative reporting of the Bitcoin loophole

In this section, the authors compare the proportion of positive and negative reporting of the Bitcoin loophole. The result: https://www.forexaktuell.com/en/bitcoin-loophole-scam/As can be seen in the graph, a decreasing polarization has been observed since 2013. While the reporting at the beginning of the study in 2013 was either positive or negative, this trend gave way to a more balanced media attention.

The authors explain this with a growing technical understanding of the media: “If the technology becomes known, fluctuations in praise and criticism could become less frequent.

According to the study, how the media houses have set their focus depends first and foremost on the target group. Magazines such as Forbes or the Business Insider appeal to a young, technology-oriented audience and tend to report positively about Bitcoin & Co.

CNBC, however, has shown a quite balanced relationship between positive and negative reporting: About 53 percent of the articles were positive, while 47 percent were negative.

On the other hand, according to the study, there are media houses that are extremely critical of Bitcoin:

“Still other media tended to report with greater scepticism (‘The Wall Street Journal’, ‘Gizmodo’) or open criticism: ‘Breitbart News’ and ‘Raw Story’, targeting polarising opposites within the American political spectrum and together making only one positive contribution to 91 negative articles’, the study says.

Conclusion: Who you believe in, you decide for yourself
In the end, the authors point out that the study shows one thing above all else: Each phenomenon can be viewed from different angles. The attitude you adopt depends not least on the media you consume. A critical reflection of media reporting is therefore indispensable.

Responsible media consumption is important in order to develop a balanced stance on the subject of crypto currencies. BTC-ECHO is a good start.

Monero Mining via Word document possible

HOME PAGE CRYPTO ALTCOINS MONERO MINING BY WORD DOCUMENT POSSIBLE
According to security researchers, even cryptojacking using a Microsoft Word document is now possible. The latest version of Word allows the embedding of code that can access web pages. Due to a lack of security measures by Microsoft, cybercriminals are now able to open the door to their plans.

Cybercriminals are constantly looking for new ways to maximize their revenues at the expense of third parties. If they can even abuse a frequently used program for their own purposes, it’s a stroke of luck for them. The latest version of MS Word allows the embedding of code which, for example, can independently open its own browser window or tab to access a given Internet address. Amit Dori from the security company Votiro was the first to draw attention to this problem on his blog.

Countermeasures would require little effort on the part of Bitcoin revolution

The effort that Microsoft would have to put into countermeasures would be small. The Bitcoin revolution programmers would only have to integrate a so-called whitelist into Word. This is a list of the websites allowed by default, such as YouTube or Vimeo, which can be called via the word processor. If the URL to be called in the embedded code differs, Word would simply block the visit automatically. But there are even more tricks: If you want to disguise your intentions as a hacker, you could simply place the called website below the visible window. Only if you close the larger window or the entire browser would you discover or leave the hidden website. This principle of hidden advertising windows is often used by less serious online marketers.

Amit Dori has informed Microsoft about the dangers of the new “feature”, but the manufacturer classifies the problem as harmless. The same code can also be inserted in PowerPoint presentations or in the OneNote notepad. However, Microsoft has already taken the necessary precautions with these programs. The implemented code can only be used to visit pages that are on Microsoft’s whitelist and are therefore unproblematic to visit.

There are various scenarios for exploiting the gap. The most likely scenario is that the recipient of the Word document visits a prepared website based on the code, via which a drive-by Trojan is smuggled into his device. Depending on the functionality of the Trojan, the hacker now has full control over the hijacked PC. For example, he can view all bank transfers, intercept user names and passwords, drive DDoS attacks, save credit card details, send spam mails from there and much more. Of course, it would also be possible to dig for a crypto currency like Monero on the transferred device. In the second threat scenario, the computer is not taken over. The code only visits a website where, for example, CoinHive Monero is used to mine. This process continues until the visit to the website is finished. Since a particularly long stay leads to the maximum result, the display of a film on its own streaming website would be a good idea. Amit Dori lists the third possibility as being to direct users to websites of PayPal, Amazon, their house bank, the credit card provider etc. that look deceptively real, where their usernames and passwords are to be tapped using phishing.

How do I get Bitcoin loophole Word documents on my PC?

By spam mail, which gives the messages a trustworthy impression. Or, as is often the case with other malware, the hackers distribute them via Usenet or P2P networks on the Internet. Commercial documents are not uncommon there. Alternatively, cybercriminals can add specially prepared Word documents to current films, programs or games, the title of which will arouse the interest of downloaders. This would be particularly effective with the mass of Bitcoin loophole.

What can I do about it?
The use of a proxy or VPN is pointless because it only obscures your own IP address. For the JavaScript on the website or the Drive-by-Trojan it is also irrelevant whether the data is always transmitted encrypted. The antivirus software of most providers is unlikely to work with such prepared documents. Nevertheless, it should be kept up to date in order to prevent infection by drive-by malware. Monero can be prevented from browsing a website using an advertising blocker or other browser extensions. Simply search the browser manufacturer of your choice for the extensions for

Study in Ireland: Government to promote blockchain technology

A study by the National University of Ireland in Galway (NUI) and the Blockchain Association of Ireland (BAI) has looked at the introduction of the blockchain in Ireland. According to the authors of the study, far too few Irish companies use the technology so far. Now they are demanding targeted support from the government.

The Irish Times reported on 11th May that the National University of Ireland in Galway (NUI) together with the Blockchain Association of Ireland (BAI) carried out a study on the subject of block groves. The title of the study also illustrates the motivation behind it: “The Introduction of the Blockchain in Ireland: Investigation of the Influence of Organizational Factors”. Although the blockchain is celebrated “since the Internet as the most revolutionary technology”, the acceptance is too low with only 40 percent of Irish companies that have opted for the technology so far. The authors of the study therefore now call on the government to promote blockchain technology more strongly in Ireland.

Details of the Bitcoin loophole

So far, there are hardly any research results of onlinebetrug in Ireland. Therefore, the results of the NUI Galway and BAI study will meet with great interest. Although only 20 companies were included, the data should shed light on the situation. Eight of these companies are already using the Bitcoin loophole, while the remaining twelve are not yet doing so or have no such plans for the next two years. Five of the 20 company representatives surveyed had a basic awareness of the blockchain, six had a medium level of knowledge and nine had extensive knowledge of the technology. This shows that at least everyone knows the blockchain, but the depth of knowledge is still too superficial.

The key factors identified for the introduction of the blockchain were support from top management and organizational readiness. On the other hand, legal uncertainties, a lack of business cases and internal expertise would act as a deterrent. The study also found that ICOs and crypto currencies are perceived as negative. In association with the blockchain, they therefore also make it difficult to introduce them.

Government to promote knowledge about the news spy

An important factor for the introduction of the blockchain is therefore an extensive knowledge of the technology. Dr. Trevor Clohessy of the NUI Galway therefore calls on the government to promote the news spy acquisition of knowledge about the blockchain. To this end, a national initiative should be launched. Dr. Clohessy highlighted the possible uses of the blockchain:

“One of the advantages of the blockchain is that transaction data is immutable after it is entered into the digital ledger, which means that it is not possible to change or remove the entered data, thereby ensuring the integrity of all transaction records. And its shared ownership makes it less vulnerable to cyber attacks. Beyond the economy, other helpful uses of this technology would include voting machines and ballot boxes to combat electoral fraud and possibly enable a blockchainable, technology-driven border identification system that could provide a solution to the current challenges of the North-South Brexit border area.”

The J. E. Cairnes School of Business and Economics at the NUI Galway is already taking a step towards blockchain funding. The University has recently introduced Blockchain as a module for students studying for master’s degrees in Business Analytics and Information Systems Management.

BTC price analysis KW45 – annual high reached!

Even though the price fell briefly to EUR 633.75 (USD 675.28), the price overshot the week and is currently at an annual high of EUR 693.90 (USD 739.37).

After a rather quiet trading session, the price dropped to 633.75 EUR (675.28 USD) – to be exact on the EMA100 of the 240min chart (see below).

The price bounced on it and has been rising ever since

Since the day before yesterday the price has experienced a massive push and with currently 693.90 EUR (739.37 USD) has surpassed the previous annual high of mid-June.

My goodness – those were a few inspiring days! In general, with the exception of the price fall between 12 November and 13 November, there was an increase. Even this price fall was rather small compared to the dump two weeks ago. Since this drop on the EMA100 on the 240min chart, the price has risen steadily to gain another number on the 16th. Possible reasons for this “joy jump” have already been discussed elsewhere. With this rise, the maximum that the BTC reached within the scope of the entire DAO upswing was made more than competition: On June 18th, the Bitcoin was worth as much as 687.21 EUR (732.24 USD) – now we are at 693.90 EUR (739.37 USD) and have thus left the then value – albeit just – behind us!

The MACD (second panel from above) is naturally positive after this pump. But beware: the current value stagnation led to the signal (orange) falling below the MACD line (blue) – as we know, a bearish sign for short-term developments. It remains to be seen whether this will be sufficient for a dramatic price correction.

The RSI (third panel from above) dropped a bit – yesterday it was overbought of course – but with 57 it is still in the bullish zone.

The Chaikin Oszillator Chart (lower panel) is currently bobbing around zero. This is of course a cause for concern – if this falls low into negative territory it would suggest that the price will fall again.

Nevertheless – on the whole the signs are rather bullish. Caution is of course called for – even though we have passed the high for the year, we are still in the regime. Ultimately, this year’s Resistance will be tested. It could be that many people think “I’ll take my sheep to the dry” and sell them first – I couldn’t blame them! On the other hand, the developments around the yuan etc. can still drive the exchange rate. What do the other time scales say about these scenarios?

A new high for the year

The 240min chart is also clearly bullish, ultimately clearer than the 60min chart: price, trend and indicators speak the same language. We have been following a stable bullish trend since late October. Unlike the 60min chart, the MACD and Chaikin oscillator are completely bullish. The RSI was clearly oversold for a short time and is currently struggling with it. Of course, experience teaches us that caution is always advised here, but it is bullish in any case.

Here we feel a bit reminded of the 240 min chart: Everything is clearly bullish, even if currently MACD line and signal are fighting for the upper hand it looks very rosy overall.

On the one hand I have shown the trend since August and (the lower blue line) the long-term trend since the end of last year. We see that the current situation is not as dramatic as in June. At that time, one had really moved dramatically far away from the long-term trend, in general the price peak was a result of a development of a few weeks, maybe a month.

The current situation seems calmer – which reassures me: the share price peak is the result of a longer stable upward trend, which finally began in August and took off at the beginning of October.

That still makes me accept worried that we haven’t finally left June’s former year-end peak behind us – a year-end sale could still take place – but I’m cautiously bullish: The development doesn’t look like a short pump. You should keep an eye on Bitcoin for the time being and see if he breaks through the resistance sustainably.