MAY 26 DIGEST: Adult FriendFinder Data Selling for 70 BTC, 1959 IBM Mainframe Can Mine Bitcoin
Unredacted Adult FriendFinder hacked Data is on offer for 70 Bitcoin, a 1959 IBM Model 1401 mainframe can mine bitcoin, and more news.
Unredacted Adult FriendFinder hacked Data is on offer for 70 Bitcoin, a 1959 IBM Model 1401 mainframe can mine bitcoin, and more top stories for May 26.
Adult FriendFinder hacked, sensitive data on offer for 70 BTC
A hacker going by the username of ROR[RG] has revealed to be in possession of confidential data from Adult FriendFinder, a dating site that helps users find partners who meet their sexual fetishes.
The data is up for sale at the price of 70 bitcoins. Given that the information on the site is extremely personal in nature, many of its users have reasons to worry as it becomes accessible to the public.
In a statement Friendfinder Network, Inc. said:
"We cannot speculate further about this issue, but rest assured, we pledge to take the appropriate steps needed to protect our customers if they are affected.”
1959 IBM Model 1401 mainframe can mine bitcoin
Ken Shirriff, a vintage hardware enthusiast, has tested and confirmed that a1959 IBM Model 1401 mainframe can mine Bitcoin. However, the speed of the machine and energy make it practically impossible to have it join the bitcoin network.
The IBM 1401 hashes at a rate of one every 80 seconds, which will take it about 5x1014 years and US$1018 in the cost of electricity to get 25 bitcoins.
"Unfortunately, the IBM 1401 doesn't have 32-bit words or even bytes. It uses 6-bit characters and doesn't provide bit operations. It doesn't even handle binary arithmetic, using decimal arithmetic instead. Thus, implementing the algorithm on 1401 is slow and inconvenient."
Nasdaq is stepping up blockchain trials
Nasdaq, the US exchanges operator, plans to do three or four trials on the blockchain’s application in trade processing. If successful, the technology will radically change how the entity handles its markets.
Mr. Greifeld, Nasdaq Group Chief Executive, told the FT:
“I am a big believer in the ability of blockchain technology to effect fundamental change in the infrastructure of the financial services industry. Clearing houses are a wonderful invention, but if you have a public ledger that is trusted, you can evolve back to a bilateral (trading) world but proceed with instantaneous settlement. We currently settle at T+3. Why not settle in 5-10 minutes?”
Updates to Streamium announced
Streamium, the decentralized video streaming platform that also ensures owners of content get payment in bitcoin per views, has announced changes to its platform.
The platform now confirms that a client's transaction is included in a block to avoid double spends. This feature has been made possible with the help of BlockCypher.
It is also now possible to automatically detect a change of address using the funding transaction. Other changes include the addition of legal disclaimer, mentions on media, typos & HTTP links as well as overall improvements in error handling.
New Zealanders can now buy BTC with the NZ dollar
The Bitcoin exchange Independent Reserve has announced that Bitcoins can now be purchases with NZD on its platform, marking another step in the Australian exchange’s strategy to become a multi-currency bitcoin market.
Other currencies that buyers of bitcoin can use on Independent Reserve are US and Australian dollars.
CEO Adrian Przelozny:
“The big advantage for New Zealanders is that there is now a reputable and proven exchange that they can trade on using their local currency. Having access to Independent Reserve’s multi-currency exchange provides a safe and reliable connection to the global Bitcoin ecosystem for New Zealanders.”
North Carolina's banking commissioner pushes for Bitcoin regulation
North Carolina's banking commissioner has called on the legislative authority to put a law in place that requires companies circulating ‘digital IOUs’ to meet consumer protection and anti-money laundering standards.
The legislation has already passed the state House of Representative and is awaiting debate in the state's Senate.
The state Banking Commissioner Ray Grace:
“There’s two sides to the Bitcoin. One side is the clear potential value of the innovation, and what that could portent for the payment system. Since we’re a business friendly state, we want to facilitate that.”
Airbitz & Darkwallet respond to OBPP report
The report on digital wallets by Open Bitcoin Privacy Project (OBPP) has motivated at least two wallets — Darkwallet (which ranked first) and Airbitz — to improve their privacy features and overall functionality. Airbitz CEO Paul Puey told Cointelegraph:
“[With Airbitz,] Grandma thinks she’s just using a PayPal for Bitcoin. Yet at the same time, we’re [on our way to] being at the Darkwallet level.”
Ugandan Fintech company to compete in the Innotribe Startup Challenge Finale
The startup develops mobile solutions on top of existing mobile wallets. Their target clients are banks and merchants who want to make it easier for customers to transact using mobile devices.