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Twitter Privacy Gets Thrust into Spotlight as iOS User Data Is Leaked

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By CCN: If we were given a dollar every time a tech behemoth “inadvertently” shared our data, we’d be as rich as their CEOs. Twitter is the latest to fess up about an oopsie, drawing more attention and questions about this disturbing trend among tech giants.

Before the fix, the bug was collecting and sharing users’ location data. As noted by Engadget, the bug affected people who were logged into more than one account on Twitter’s iOS app.

People who had activated the precise location feature on the app were particularly vulnerable. Worse, if users activated the feature on one account and not the other, Twitter’s bug didn’t discriminate. It allowed Twitter to collect location data from the other account, too.

But for Twitter employees who discovered the bug, it would still be wreaking havoc.

Twitter Ad Partners Cited As Possible Culprit

Twitter tried to kill the bug by pulling location data from the information it sends to one of its advertising partners, but that didn’t work as planned, according to Engadget. It found that precise location data was not revealed. That’s because it was masked by Twitter down to a 5 kilometer-squared area. The social media giant told Engadget that it didn’t receive usernames or other details that could have compromised anyone’s identity.

This doesn’t mean that the company didn’t share location data that it wasn’t supposed to have collected with that partner, according to Engadget.

As if this was something to smile about, Twitter proclaimed that the ad partner only stored the information for a “short time before deleting it as part of the company’s normal data-handling procedures.”

This is the fourth time the company has found a bug on its platform, according to a Fox Business broadcast Tuesday morning.

TWTR shares are down approximately 4% over the last five-day period.

Twitter stock

Twitter shares are up fractionally today. | Source: Yahoo Finance

Folks who were affected by this particular bug may have been contacted. Twitter says it didn’t retain the information. It’s best to contact Twitter if you worry.

However, at the end of the day, does it matter?

Facebook, Amazon, and Google have all come under fire for mishandling user data information. The responses have been lackadaisical and even offensive. CCN reported that these mishaps beg the question of how these companies, supposedly staffed by the brightest tech minds around, can’t shore up their systems to avoid breaches?

If you use any of them, you’re to just know that sh** happens. Either live under a rock, avoiding such technology, or deal with it.

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Game Changer for Bitcoin? VanEck ETF Decision Tomorrow –  All You Need to Know

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One of the events the entire cryptocurrency community has its sights turned to is the VanEck/SolidX Bitcoin ETF proposal. It was published in the Federal Register back on February 20th, giving the SEC a legal timeframe of 90 days to make a further decision. This means that the Commission must come up with a decision tomorrow, May 21st.

May 21st – An Important Date for Bitcoin

The saga around VanEck/SolidX Bitcoin ETF proposal has been going on for quite a while now. Last year, their application was withdrawn after being delayed on multiple occasions by the US Securities and Exchange Commission (SEC). However, shortly after that, the application was submitted again, reigniting hope among those who believe that a Bitcoin ETF would catalyze a further increase in the price of the cryptocurrency, as well as further adoption.

The new application was filed with the Federal Register on February 20th, giving the SEC a binding term of 90 days to come up with a decision to approve, deny, or delay it. Interestingly enough, another Bitcoin ETF application was also filed with the Register on February 15th – that of Bitwise. The SEC delayed its decision on the latter, while even deciding to use the full 90 days term to make up its mind on the application of VanEck and SolidX. This is why May 21st is an important date to expect.

According to famous legal expert among the cryptocurrency community, Jake Chervinsky, however, the chances of a delay or denial are much higher than the chances of approval.

He bases his merit on the fact that the SEC is unlikely to approve the first-ever Bitcoin ETF without taking the full 240 days period that it legally can. Moreover, he also finds it rather unusual that the Commission didn’t delay the VanEck Bitcoin ETF together with that of Bitwise.

The lawyer also cited some of the reasons for the delay of the application of Bitwise, which include:

  • The nature of the market for Bitcoin
  • The efficiency of that market
  • The susceptibility of that market to manipulation
  • How the market is similar to markets for other commodities
  • Reports that a large percentage of reported volume is fake

Chervinsky pointed out that if VanEck has any chance of approval, then the SEC “would need to delay & aks all these same questions to them as well.”

What Does This Mean For Bitcoin?

While it’s anyone’s guess how a potential approval of a Bitcoin ETF would impact Bitcoin’s price and whether it would surge, the majority of the cryptocurrency community is undoubtedly sure of it.

According to Josh Roger, a well-known cryptocurrency trader and investor, the different scenarios will have different impacts on the price.

The upcoming VanEck ETF decision could certainly have a serious impact on BTC price.

Denial = Pull back the current price regardless of how good it looked this weekend.

Approval = push the price to new yearly high and create mass FOMO buying.

Delay = Expected & likely little change.

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PSA: Bitconnect ‘2.0’ Triggers Countdown to Resurrect Greatest Crypto Ponzi Ever

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By CCN: In 2016 a cryptocurrency project named BitConnect came along offering 1% daily compounded interest for those who purchased and staked its token.

When the BitConnect (BCC) bubble inevitably burst, the owners, as expected, made off everyone’s money. The BCC token price sunk by 99.9%, and a previously $2.5 billion valued project became worthless.

Now, the greatest scam ever sold is back. Enter BitConnect 2.0.

Hey, Hey, Hey: BitConnect 2.0 Arrives for a Second Bite at the Cherry

A website and Twitter profile advertising the arrival of BitConnect 2.0 appeared in the last few days. The website shows a countdown to the rebirth of one of the worst cryptocurrency scams of all time.

Bitconnect countdown

The Twitter profile contains just two posts – one is a link to the new website; and the other is a Binance referral link with the directive ‘Buy Now’.

Of course, there are no BitConnect tokens (either 1.0 or 2.0) hosted on Binance. If we take a look at the domain registrar details for the new website – BitConnect.io – we see some strange peculiarities.

Despite the Twitter post promising a July 1st launch, the website’s domain name is set to expire two weeks before that date. The domain, which differs slightly from the original BitConnect.co website, was registered in 2017.

bitconnect domain

Scamception: A Scam Inside a Scam

All of this adds up to what looks like a scam inside a scam. Assuming the site domain isn’t renewed before the expiration on June 19th, then perhaps what we have here isn’t BitConnect 2.0 at all.

Rather, it appears someone with an old domain name is attempting to squeeze as much money out of their Binance referral link as possible before the site expires. The Twitter profile shows almost 1,000 followers already, despite the first post not appearing until one day ago. However, the new website is also registered in the same geographic location as the original – Panama.

One person who was able to see the funny side of the BitConnect revival was former BCC front-man, Carlos Matos. Famous for his exuberant and dramatic on-stage sale pitch, Matos continues to post memes about the BitConnect saga. Recently he revived his infamous ‘Hey, Hey, Hey…’ slogan to comment on BitConnect 2.0; which he apparently has no part in.

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Matos even posted this meme expressing a skeptical take on the project’s revival.

bitconnect grand theft auto meme

Too Late for Skepticism

Ultimately, the same skepticism would have been useful several years ago, before gullible investors were taken for all they had. From the ICO price of $0.17, the value of BCC tokens shot up to $509.99 in one year – marking ridiculous gains of 299,894%.

bitconnect charts

Of course, those gains were never cashed out. When the exit scam hit in January 2018, the value of BCC dropped like a stone. Data for the token price continued to be tracked up until August 2018, when it held a value of just $0.263786, before being removed from all exchanges.

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EOS Price Prediction Today: Daily (EOS) Value Forecast – May 20

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34-Million-EOS-Officially-Burned

34-Million-EOS-Officially-Burned

  • On the upside, if the price is sustained above the EMAs, the bulls are likely to retest or break the $6.60 and $6.80 resistance levels.
  • However, if the bulls fail to break the resistance levels, the crypto’s price is likely to fall back to the range bound zone.

EOS/USD Medium-term Trend: Ranging

  • Resistance levels: $ 6.80, $7.0, $7.20.
  • Support levels: $6.20, $6, $5.80.

Last week the price of EOS was in a bullish trend. On May 16, the crypto’s price tested a high of $6.80 and was resisted. The market fell and was in a downward correction to the support level at $5.80 price level. On May 19, the crypto’s price was in a bullish move but was resisted at the $6.60 price level. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.

On the upside, if the price is sustained above the EMAs, the bulls are likely to retest or break the $6.50 and $6.80 resistance levels. However, if the bulls fail to break the resistance levels, the crypto’s price is likely to fall back to the range bound zone. Meanwhile, the market is at the overbought region of the daily stochastic but below the 80% which indicates that price is in a bearish momentum and a sell signal.

EOS/USD Short-term Trend: Ranging

On the 1-hour chart, the price of EOS is in a bearish trend zone. On May 19, the crypto’s price reached a high of $6.52 but was resisted. The crypto’s price fell and was in a downward correction. The bears have broken the 0.236, 0382 and the 0.50 Fib. retracement levels.

The price is in a downtrend zone but the 0.618 retracement level is likely to hold. In other words, the price may fall to the $6.19 price level. Meanwhile, the market has reached the oversold region of the daily stochastic but below the 40% range. This indicates that the price of EOS is in a bearish momentum and sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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Bitcoin Has Soared Above Intrinsic Value During Latest Rally, JPM Strategists Claim

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Strategists from United States banking giant JPMorgan Chase (JPM) have argued that bitcoin (BTC)’s recent rally has ostensibly soared past what they calculate to be its intrinsic value. Their analysis was reported by Bloomberg on May 20.

The strategists — who reportedly include JPMorgan global market strategist Nikolaos Panigirtzoglou —  judge that the top coin has recently been trading in a way that mirrors its late 2017 rally, which preceded a protracted price slump.

To ascertain the coin’s intrinsic value, the strategists reportedly analyzed bitcoin as a commodity and calculated its cost of production based on parameters such as estimated computational power, electricity costs and hardware energy efficiency, Bloomberg notes. They reportedly stated:

“Over the past few days, the actual price has moved sharply over marginal cost. This divergence between actual and intrinsic values carries some echoes of the spike higher in late 2017, and at the time this divergence was resolved mostly by a reduction in actual prices.”

Bitcoin — which has seen a renewed lease of life since April — has traded as high as almost $8,300 within the last week — having traded sideways below $5,000 throughout February and March. In mid-December 2018, the top coin had traded below the $3,300 mark — with its current price point thus representing a roughly 150% gain over its bear market lows.

Bitcoin’s 3-month chart, Feb. 20 — May 20 2019

Bitcoin’s 3-month chart, Feb. 20 — May 20 2019. Source: CoinMarketCap

In an apparent qualification of their analysis, JPMorgan’s strategist are cited by Bloomberg as having noted that:

“Defining an intrinsic or fair value for any cryptocurrency is clearly challenging. Indeed, views range from some researchers arguing that it has no fundamental value, to others estimating fair values well in excess of current prices.”

As reported, JPMorgan CEO Jamie Dimon has long adopted a sceptical stance toward decentralized cryptocurrencies such as bitcoin, even as he steers the megabank toward launching its own blockchain-powered native settlement digital asset, JPM Coin.

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Ethereum-Based Stock Exchange Plans First Company Listing in June

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SprinkleXchange, a stock exchange built on ethereum, is reportedly listing its first company next month.

Sprinkle Group CEO Alexander Wallin told Bloomberg in an interview published Friday, “We have the luxury of being first with this, but we’re aware that it will become a crowded market.”

The Bahrain-based platform, operating within a regulatory sandbox created by the country’s central bank, uses a decentralized clearing and settlement system that uses automation in order to reduce time and cost. Prices will be set using the Dutch auction method, with SprinkleXchange taking a 1 percent fee.

Wallin told the news source that the cost of listing would be similar to on a Swedish stock exchange, but “you get global access and we can show that you also get better liquidity.”

SprinkleXchange is aiming to attract companies with a market capitalization of $20-$200 million. It expects to list 35 companies over the next 12 months and as many as 1,000 over the next few years. As well as listed stocks, the firm will offer trading in cryptocurrencies and also plans to add exchange-traded funds in the future.

A number of traditional stock exchanges are currently moving to integrate blockchain tech in their platforms. Switzerland’s top stock exchange, SIX, for instance, is expected to roll out a blockchain platform to speed up trading later this year. While the Gibraltar Stock Exchange recently started allowing the listing of tokenized securities.

The Australian Securities Exchange is notably rebuilding its ageing CHESS settlement platform using blockchain tech provided by Digital Asset. And other stock exchanges, including in Jamaica, Thailand and Spain, have also announced initiatives around blockchain and crypto assets.

Bahrain image via Shutterstock 

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