All about Blockchain, Cryptocurrency, Digital Transformation

Discussion in 'Off Topic' started by Dr. AMK, Jan 7, 2018.

  1. Dr. AMK

    Dr. AMK The Strategist

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  2. hmscott

    hmscott Notebook Nobel Laureate

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    Google's AI Cloud Star Leaves After Pentagon Deal Protests
    https://www.bloomberg.com/news/arti...loud-star-leaves-after-pentagon-deal-protests

    "Fei-Fei Li, chief scientist at Google’s cloud-computing division, is leaving after controversy over the use of the company’s artificial intelligence technology and a deal with the Pentagon.

    Li, a venerated researcher in the field of AI, is returning to Stanford University, where she was a professor before joining Google about two years ago.

    Andrew Moore, dean of the school of computer science at Carnegie Mellon University in Pittsburgh will become head of AI at Google Cloud at the end of 2018, the Alphabet Inc. company said Monday. Moore worked at Google from 2006-2014.

    In early June, Google retreated from a Pentagon cloud contract following employee protests. The program, called Project Maven, used Google’s AI-powered image-recognition software.

    In internal emails, Li praised the contract but cautioned colleagues to avoid mentioning the AI component of the deal for fear that the public would latch onto concern about “weaponized” AI. “This is red meat to the media to find all ways to damage Google,” Li wrote in an email reported by The New York Times.
    Li also led Google’s move to open an AI research lab in Beijing. This is part of a broader effort by the company to return to mainland China since pulling its search service from the country in 2010. These plans have also sparked internal debate, and criticism by some U.S. politicians.

    Li penned an op-ed for The New York Times titled, “How to Make AI That’s Good for People.”

    Li will become an adviser to the company, Diane Greene, chief executive officer of Google’s cloud unit, said in the statement.
    — With assistance by Alistair Barr"
    And, it's not over...

    Google Cloud’s new AI head comes with his own ties to the Pentagon’s Project Maven
    by TRISTAN GREENE — 2 days ago in ARTIFICIAL INTELLIGENCE
    https://thenextweb.com/artificial-i...-his-own-ties-to-the-pentagons-project-maven/

    "Google Cloud’s soon-to-be head of AI will have his work cut out for him if he wants to convince disgruntled employees he won’t follow in his predecessors footsteps and develop AI for the military. He’s the co-chair of a defense and security think-tank alongside one of the people responsible for the creation of Project Maven.

    Google Cloud announced earlier this week that Carnegie Mellon’s Andrew Moore will replace AI head Fei-Fei Li by the end of the year. Moore is returning to Google, having previously been a director with the company from 2007 through 2014.

    In May he was appointed co-chair of the Center for a New American Security’s artificial intelligence task force, a group dedicated to determining how the US government should respond to the threat of AI.
    At the time of his appointment Moore said:

    Central to all of this is ensuring that such systems work with humans in a way which empowers the human, not replaces the human, and which keeps ultimate decision authority with the human. That is why I am so excited by the mission of the task force.

    Proponents of Google’s work on Project Maven were quick to point out the company wasn’t developing weapons systems. According to reports, the company was teaching military developers how to use TensorFlow (an open-source machine learning platform) to analyze drone footage.

    Despite such assurances, hundreds of employees protested and at leasta dozen quit over the company’s involvement. Google eventually announced it wouldn’t seek to renew its contract to work on Project Maven.

    Whether Moore’s commitment to keeping “ultimate decision authority” in humans will be enough to assuage employee concerns over the company’s partnerships with the Pentagon remains to be seen.

    In other Google AI news, a handful of employees, including Senior Google Scientist James Poulson, have shown themselves the door, reports The Intercept. Their departure comes in protest of the company’s efforts to build a censorship engine, code-named Dragonfly, to appease the Chinese government.

    It’s worth noting that state-owned media outlet China Securities Daily, viaReuters, reported that Google and the Chinese government were not working on Dragonfly, citing “relevant departments” as its source — the Chinese government has long maintained it doesn’t engage in censorship.

    Google has a wishy-washy history with Chinese censorship. Back in 2006 it sought inroads into the Chinese economy and agreed to the laws of the land. But, that all changed a few years later when the company had a change of heart. Co-founder Sergey Brin, speaking about Google’s refusal to continue to engage in Chinese censorship in 2010, told Der Speigel:

    Having come from a totalitarian country, the Soviet Union, and having seen the hardships that my family endured–both while there and trying to leave—I certainly am particularly sensitive to the stifling of individual liberties.

    The company didn’t make it a decade before the allure of Chinese money forced it to reconsider its stance on censorship. When The Intercept broke the story, it indicated Google’s Dragonfly project had already been demonstrated as a near-finished app to the Chinese government.

    The demo would seem to show that Google planned to deliver on Dragonfly. But, maybe CEO Sundar Pichai doesn’t mind following projects all the way through to the very point of fruition before stopping to make ethical considerations — the board must love that.
    It looks like we’ll just have to trust the company when it says it’s not involved in developing AI for the military or censorship engines for China.

    We reached out to Google for comment but didn’t immediately receive a response."
     
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  3. Dr. AMK

    Dr. AMK The Strategist

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  4. hmscott

    hmscott Notebook Nobel Laureate

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    Crypto’s 80% Plunge Is Now Worse Than the Dot-Com Crash
    Michael Patterson, September 13 2018, 1:37 AM
    https://www.bloombergquint.com/mark...t-surpassed-dot-com-levels-as-losses-reach-80

    "(Bloomberg) -- The Great Crypto Crash of 2018 looks more and more like one for the record books.

    As virtual currencies plumbed new depths on Wednesday, the MVIS CryptoCompare Digital Assets 10 Index extended its collapse from a January high to 80 percent.

    The tumble has now surpassed the Nasdaq Composite Index’s 78 percent peak-to-trough decline after the dot-com bubble burst in 2000.
    760x-1.png
    Like their predecessors during the Internet-stock boom almost two decades ago, cryptocurrency investors who bet big on a seemingly revolutionary technology are suffering a painful reality check, particularly those in many secondary tokens, so-called alt-coins.

    “It just shows what a massive, speculative bubble the whole crypto thing was -- as many of us at the time warned,” said Neil Wilson, chief market analyst in London for Markets.com, a foreign-exchange trading platform.

    “It’s a very likely a winner takes all market -- Bitcoin currently most likely.”

    Wednesday’s losses were led by Ether, the second-largest virtual currency. It fell 6 percent to $171.15 at 7:50 a.m. in New York, extending this month’s retreat to 40 percent. Bitcoin was little changed, while the MVIS CryptoCompare index fell 3.8 percent. The value of all virtual currencies tracked by CoinMarketCap.com sank to $187 billion, a 10-month low.

    Digital Gold
    The virtual-currency mania of 2017 -- fueled by hopes that Bitcoin would become “digital gold” and that blockchain-powered tokens would reshape industries from finance to food -- has quickly given way to concerns about excessive hype, security flaws, market manipulation, tighter regulation and slower-than-anticipated adoption by Wall Street.

    Crypto bulls dismiss negative comparisons to the dot-com era by pointing to the Nasdaq Composite’s recovery to fresh highs 15 years later, and to the internet’s enormous impact on society. They also note that Bitcoin has rebounded from past crashes of similar magnitude.

    But even if the optimists prove right and cryptocurrencies eventually transform the world, this year’s selloff has underscored that progress is unlikely to be smooth.

    One silver lining of the crypto slump is that ramifications for the global economy are likely to be minimal. While the market has lost more than $640 billion of value since peaking in January, that’s a far cry from the trillions erased from Nasdaq Composite stocks during the dot-com bust.

    The crypto industry’s links with the traditional financial system also remain weak. That’s been a disappointment for bulls, but it’s good news for everyone else at a time when digital assets are tumbling.

    “Until you can pay your taxes in cryptos, it’s just a pointless investment vehicle,” said Markets.com’s Wilson. “Some people will make loads of money but most won’t.”"

    Bloomberg | Bitcoin and Cryptocurrencies lose 640 billion in 2018 | Finance and Crypto
    Finance and Crypto
    Published on Sep 14, 2018
    How much lower do we have to go until its a consnsus on a bottom being reached?
     
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  5. hmscott

    hmscott Notebook Nobel Laureate

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    Bitcoin Mining Profitability September 2018
    Chase 5G
    Published on Sep 18, 2018
     
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  6. Dr. AMK

    Dr. AMK The Strategist

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  7. Dr. AMK

    Dr. AMK The Strategist

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  8. Dr. AMK

    Dr. AMK The Strategist

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  9. hmscott

    hmscott Notebook Nobel Laureate

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    Bitcoin Price Tows the Line Above $6,600; Mining Becomes Unprofitable for the First Time
    By Sam Bourgi, Published 30 mins ago, October 9, 2018
    https://hacked.com/bitcoin-price-to...ning-becomes-unprofitable-for-the-first-time/

    "...According to cryptocurrency publication Diar, there are 54,000 bitcoins up for grabs each month. For miners, rewards and fees represented $4.7 billion in revenue through the first three quarters of 2017, exceeding all of last year’s haul by $1.4 billion. However, record hash rate has contributed to a sharp rise in retail electricity prices, which made mining unprofitable for the first time in September...."

    Bitcoin Miner Revenues Near $5 Billion, But Profitability Dwindles
    https://diar.co/volume-2-issue-40/

    September 2018 mining becomes unprofitable return on investment based on price vs cost to mine.JPG
    September 2018 Profit vs cost crossover.JPG
     
    Last edited: Oct 9, 2018
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  10. hmscott

    hmscott Notebook Nobel Laureate

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    Kuvera Global Stops Crypto Mining ROI Payments and Cites Ethereum’s Poor Profitability
    By Bitcoin Exchange Guide News Team, October 8, 2018
    https://bitcoinexchangeguide.com/ku...ments-and-cites-ethereums-poor-profitability/

    "The unregistered security offerings of Investview are now on shaky grounds following the latest announcement that Kuvera Global would immediately stop all ROI payments. The company shared this unfortunate news with its clients through an email, saying that mining Ethereum was not profitable due to the significant drop in the currency’s value. Here are some of the main reasons why the company claims that Ethereum mining is no longer profitable

    • Increased costs of hardware maintenance and electricity compared to the worth of the Ethereum being mined.

    • Experienced mining partners have recommended that Kuvera Global implement a “mining interruption.’

    • They hope that Ethereum will regain its useful value once again so that they can resume mining.

    • They want to prevent the unnecessary wearing down of the mining equipment during the current unprofitable period.

    With these reasons mentioned above, Kuvera Global says that it cannot continue operating its cloud mining business because Ethereum’s value has tanked. However, what is weird is the fact that besides stopping the ROI payments, the company was also suspending all withdrawals.

    All payouts are temporarily stopped during this pause, and they are expected to resume when Ethereum mining becomes profitable.

    No Withdrawals
    It is very unfair for Kuvera Global to lock the funds that affiliates have earned on the site. The only way that this company would not have the capacity of honouring withdrawal requests on its platform is if it does not have enough money to pay its clients. If all the ROI payments that Kuvera Global was making were made from Ethereum cloud-mining, where is the money that affiliates have earned go?
    ...
    Negative ROI Payments
    For any investor who finds this latest development unacceptable, the company does provide an option to keep on mining. However, you should know that you will get negative ROI payments every day, while Kuvera Global will still bill you for using their service. It is all permissible in the company’s mining agreement.

    The agreement states that if crypto mining becomes unprofitable and remains like that for three consecutive weeks, then the agreement stands suspended until profitability in mining resumes. During that suspension period, payouts are also stopped temporarily and will only return once the suspension is lifted.

    In conclusion, this whole scenario sounds like a typical MLM crypto exit-scam."
     
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