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The Almighty Buck

Employment Rose Among Those in Free Money Experiment (apnews.com) 177

After getting $500 per month for two years without rules on how to spend it, 125 people in California paid off debt, got full-time jobs and reported lower rates of anxiety and depression, according to a study released this week. From a report: The program in the Northern California city of Stockton was the highest-profile experiment in the U.S. of a universal basic income, where everyone gets a guaranteed amount per month for free. Announced by former Mayor Michael Tubbs with great fanfare in 2017, the idea quickly gained momentum once it became a major part of Andrew Yang's 2020 campaign for president.

Supporters say a guaranteed income can alleviate the stress and anxiety of people living in poverty while giving them the financial security needed to find good jobs and avoid debt. But critics argue free money would eliminate the incentive to work, creating a society dependent on the state. Tubbs, who at 26 was elected Stockton's first Black mayor in 2016 after endorsements from Oprah Winfrey and Barack Obama, wanted to put those claims to the test. Stockton was an ideal place, given its proximity to Silicon Valley and the eagerness of the state's tech titans to fund the experiment as they grapple with how to prepare for job losses that could come with automation and artificial intelligence. The Stockton Economic Empowerment Demonstration launched in February 2019, selecting a group of 125 people who lived in census tracts at or below the city's median household income of $46,033. The program did not use tax dollars, but was financed by private donations, including a nonprofit led by Facebook co-founder Chris Hughes.

Power

Turntide Technologies Rethinks Electric Motors To Slash Energy Consumption In Buildings (techcrunch.com) 145

FrankOVD shares a report from TechCrunch: [F]irms backed by Robert Downey Jr. and Bill Gates are joining investors like Amazon and iPod inventor Tony Fadell to pour money into a company called Turntide Technologies that believes it has the next great innovation in the world's efforts to slow global climate change -- a better electric motor. The operation of buildings is responsible for 40% of CO2 emissions worldwide, Turntide noted in a statement. And, according to the U.S. Department of Energy (DOE), one-third of energy used in commercial buildings is wasted. Smart building technology adds an intelligent layer to eliminate this waste and inefficiency by automatically controlling lighting, air conditioning, heating, ventilation and other essential systems and Turntide's electric motors can add additional savings.

Turntide's basic innovation is a software-controlled motor, or switch reluctance motor, that uses precise pulses of energy instead of a constant flow of electricity. "In a conventional motor you are continuously driving current into the motor whatever speed you want to run it at," [CEO Ryan Morris] said. "We're pulsing in precise amounts of current just at the times when you need the torque... It's software-defined hardware."

He estimates that the technology is applicable to 95% of where electric motors are used today, but the initial focus will be on smart buildings because it's the easiest place to start and can have some of the largest immediate impact on energy usage. "The carbon impact of what we're doing is pretty massive," Morris told me last year. "The average energy reduction [in buildings] has been a 64% reduction. If we can replace all the motors in buildings in the U.S. that's the carbon equivalent of adding over 300 million tons of carbon sequestration per year."

Media

How Worried Should You Be About Those Tom Cruise Deepfakes? (vice.com) 81

Are the TikTok deepfake videos of Tom Cruise doing magic and playing golf a threat to global democracy? Not exactly. "[T]he reality is that they took a lot of time, technical expertise, and the skilled performance of a real actor," reports VICE News. "Rather than predicting a dark future of disinformation for the masses, they're simply another example of what can be done with significant time and resources." From the report: The Tom Cruise videos, posted on the @deeptomcruise TikTok account, have been viewed over 11 million times on the app and millions more times on other platforms. The videos were suddenly deleted from the TikTok account on Wednesday morning, shortly after VICE News contacted the people who produced them. They show the fake Cruise playing golf, falling over while telling a story about former Soviet leader Mikhail Gorbachev, and finally, doing a close-up magic trick with a coin.

There's no question the videos are really good. When scanned through several of the best publicly available deepfake detection tools, they avoided discovery. That led many to claim that a new threshold had been reached in deepfake sophistication, and that social media would soon be overwhelmed with similar videos. But that kind of analysis fails to take into account the amount of time, money, and skill it took to produce these videos.

They are the work of Belgian visual effects artist Chris Ume, who is part of a group known as Deep Voodoo Studio, a team of the world's best deepfake artists assembled by the creators of the hit TV show "South Park," Trey Parker and Matt Stone. The team worked with English actor Peter Serafinowicz to produce a 2020 YouTube show called "Sassy Justice," which featured multiple deepfakes of celebrities and politicians. The Tom Cruise TikTok videos required not only the expertise of Ume and his team but also the cooperation of Miles Fisher, a well-known Tom Cruise impersonator who was behind a viral video in 2019 that purported to show Cruise announcing his candidacy for the 2020 election. Ume has even detailed some of the highly complex and involved technical processes he had to go through to produce previous deepfakes.

Piracy

ICANN Refuses To Accredit Pirate Bay Founder Peter Sunde Due To His 'Background' (torrentfreak.com) 134

An anonymous reader quotes a report from TorrentFreak: Peter Sunde is one of the original Pirate Bay founders, but in recent years he's mostly known for his role in various Internet-related startups. This includes domain registrar Sarek, for which Sunde tried to get ICANN accreditation. However, this request was denied, apparently due to Sunde's "uncomfortable" background. Needless to say, Sunde was disappointed with the decision and he took his frustration to Twitter a few days ago. Initially, he assumed that the application was denied because ICANN concluded that he 'lied' about his background.

The accreditation form requires applicants to tick a box if they have been convicted for fraud or something similar. Sunde didn't tick this box, as he was convicted for criminal copyright infringement. This 'error' was swiftly noticed by ICANN, which is also uneasy with other parts of the Pirate Bay founder's history. "After the background check I get a reply that I've checked the wrong boxes," Sunde wrote. "Not only that, but they're also upset I was wanted by Interpol." The Twitter thread didn't go unnoticed by ICANN who contacted Sunde over the phone to offer clarification. As it turns out, the 'wrong box' issue isn't the main problem, as he explains in a follow-up Twitter thread.

"I got some sort of semi-excuse regarding their claim that I lied on my application. They also said that they agreed it wasn't fraud or similar really. So both of the points they made regarding the denial were not really the reason," Sunde clarifies. Over the phone, ICANN explained that the matter was discussed internally. This unnamed group of people concluded that the organization is 'not comfortable' doing business with him. "They basically admitted that they don't like me. They've banned me for nothing else than my political views. This is typical discrimination. Considering I have no one to appeal to except them, it's concerning, since they control the actual fucking center of the internet." Making matters worse, ICANN will also keep the registration fee, so this whole ordeal is costing money as well.

Japan

Japan Billionaire Seeks 'Crew' For Moon Trip (reuters.com) 44

Japanese billionaire Yusaku Maezawa on Wednesday launched a search for eight people to join him as the first private passenger on a trip around the moon with Elon Musk's SpaceX. He had originally planned to invite artists for the weeklong voyage slated for 2023. Reuters reports: The rejigged project will "give more people from around the globe the chance to join this journey. If you see yourself as an artist, then you are an artist," Maezawa said. The first stage of the application process runs to March 14. The entrepreneur, who sold his online fashion business Zozo Inc to SoftBank in 2019, is paying the entire cost of the voyage on SpaceX's next-generation reusable launch vehicle, dubbed the Starship.
Bitcoin

PayPal In Talks To Buy Crypto Custody Firm Curv, Reports Say (coindesk.com) 29

PayPal is said to be in the process of buying Curv, a technology firm that powers the secure storage of cryptocurrency, news outlet CoinDesk reported Tuesday, citing three sources familiar with the situation. From the report: Israeli news outlet Calcalist reported Tuesday that Curv was being sold for between $200 million and $300 million, without naming the buyer. "PayPal is buying Curv for $500 million," a source from within the digital asset custody space told CoinDesk on Monday. "From where I'm hearing it, I'm pretty sure it's true." Several people in the cryptocurrency space have said PayPal, which made an entrance to the crypto space last year, turned its attention to Curv after talks to buy crypto custody and trading firm BitGo fell through last year. PayPal offered $750 million in cash for BitGo, two sources familiar with the deal told CoinDesk. Bloomberg has corroborated the talks.
Media

How a 10-Second Video Clip Sold For $6.6 Million (reuters.com) 47

In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million. Reuters reports: The video by digital artist Beeple, whose real name is Mike Winkelmann, was authenticated by blockchain, which serves as a digital signature to certify who owns it and that it is the original work. It's a new type of digital asset - known as a non-fungible token (NFT) - that has exploded in popularity during the pandemic as enthusiasts and investors scramble to spend enormous sums of money on items that only exist online. Blockchain technology allows the items to be publicly authenticated as one-of-a-kind, unlike traditional online objects which can be endlessly reproduced. The computer-generated video sold by Rodriguez-Fraile shows what appears to be a giant Donald Trump collapsed on the ground, his body covered in slogans, in an otherwise idyllic setting.
Businesses

Popular LA Restaurant Closes After High-Tech 'Dine and Dash' Scheme (cbsnews.com) 195

quonset writes: "The Korean Fusion Cafe 'Spoon by H' had the ingredients to become an L.A. success story but is the epitome of a small business, with owner and chef Yoonjin Hwang working 15-hour days to run the restaurant with her mother and brother," reports CBS News. "'We have no staff. We have no cooks. I have to do everything by myself,' said Hwang. 'Like so many other small businesses we were hit hard by the pandemic. All we could do was just like take it day by day and do whatever we could to stay afloat.'" One day she received an order for $700. The person came in and picked up the order. A week later the same person disputed the charge. Hwang had to pay back the money, and this same situation kept occurring time and again. Hwang was the victim of "friendly fraud" or "chargebacks."

"In the scam, a customer orders food, often through a delivery service, then receives their meal, but disputes the charge with their credit card company to get a refund," reports CBS News. "According to the Los Angeles Times, a growing number of the city's restaurants have struggled as scammers take advantage of internet ordering to use fraudulent credit cards or request refunds, claiming they never received part or all of an order."
"I just felt so incredibly helpless and frustrated. We just couldn't keep running our business like this," Hwang said. As a result, she decided to close the restaurant for good.

Patrons helped raise more than $60,000 on a GoFundMe page, which Hwang plans to use to pay off her debt. She says she may consider opening a new business someday with the earnings, but she doesn't know when, or what type of business.
Bitcoin

Bitcoin Could Either Become Preferred Currency For International Trade Or Face a 'Speculative Implosion,' Citi Says (reuters.com) 114

An anonymous reader quotes a report from Reuters: Bitcoin rose nearly 7% on Monday as risk assets rallied after last week's bond rout cooled, with Citi saying the most popular cryptocurrency was at a "tipping point" and could become the preferred currency for international trade. With the recent embrace of the likes of Tesla and Mastercard, bitcoin could be at the start of a "massive transformation" into the mainstream, the investment bank said. Goldman Sachs, meanwhile, has restarted its cryptocurrency trading desk and will begin dealing bitcoin futures and non-deliverable forwards for clients next week, a person familiar with the matter told Reuters.

Bitcoin, which hit a record high of $58,354 in February, could in the future become the preferred currency for international trade or face a "speculative implosion," Citi said. "There are a host of risks and obstacles that stand in the way of bitcoin progress," Citi's analysts wrote. "But weighing these potential hurdles against the opportunities leads to the conclusion that bitcoin is at a tipping point."

Bitcoin's recent performance has come with the growing involvement of institutional investors in recent years, contrasting with its heavy retail investor focus for most of the past decade, Citi said. If businesses and individuals gain access via digital wallets to planned central bank digital cash and so-called stablecoins, bitcoin's global reach, traceability and potential for quick payments would see it "optimally positioned" to become the preferred currency for international trade, Citi added. Such a dramatic transformation to the de facto currency of world trade -- a status currently held by the dollar -- would depend on changes to bitcoin's market to allow wider institutional participation and closer oversight by financial regulators, Citi said. Still, shifts in the macroeconomic environment could also make the demand for bitcoin less pressing, it added.

China

China Charges Ahead With a National Digital Currency (nytimes.com) 38

The electronic Chinese yuan is now being tested in cities such as Shenzhen, Shanghai and Beijing. No other major power is as far along with a homegrown digital currency. From a report: Annabelle Huang recently won a government lottery to try China's latest economics experiment: a national digital currency. After joining the lottery through the social media app WeChat, Ms. Huang, 28, a business strategist in Shenzhen, received a digital envelope with 200 electronic Chinese yuan, or eCNY, worth around $30. To spend it, she went to a convenience store near her office and picked out some nuts and yogurt. Then she pulled up a QR code for the digital currency from inside her bank app, which the store scanned for payment. "The journey of how you pay, it's very similar" to that of other Chinese payments apps, Ms. Huang said of the eCNY experience, though she added that it wasn't quite as smooth.

China has charged ahead with a bold effort to remake the way that government-backed money works, rolling out its own digital currency with different qualities than cash or digital deposits. The country's central bank, which began testing eCNY last year in four cities, recently expanded those trials to bigger cities such as Beijing and Shanghai, according to government presentations. The effort is one of several by central banks around the world to try new forms of digital money that can move faster and give even the most disadvantaged people access to online financial tools. Many countries have taken action as cryptocurrencies such as Bitcoin, which has recently soared in value, have become more popular. But while Bitcoin was designed to be decentralized so that no company or government could control it, digital currencies created by central banks give governments more of a financial grip.

The Almighty Buck

Banks in Germany Tell Customers To Take Deposits Elsewhere (wsj.com) 193

Interest rates have been negative in Europe for years. But it took the flood of savings unleashed in the pandemic for banks finally to charge depositors in earnest. From a report: Germany's biggest lenders, Deutsche Bank and Commerzbank, have told new customers since last year to pay a 0.5% annual rate to keep large sums of money with them. The banks say they can no longer absorb the negative interest rates the European Central Bank charges them. The more customer deposits banks have, the more they have to park with the central bank. That is creating an unusual incentive, where banks that usually want deposits as an inexpensive form of financing, are essentially telling customers to go away. Banks are even providing new online tools to help customers take their deposits elsewhere.

Banks in Europe resisted passing negative rates on to customers when the ECB first introduced them in 2014, fearing backlash. Some did it only with corporate depositors, who were less likely to complain to local politicians. The banks resorted to other ways to pass on the costs of negative rates, charging higher fees, for instance. The pandemic has changed the equation. Savings rates skyrocketed with consumers at home. And huge relief programs from the ECB have flooded banks with excess deposits. Banks also have used the economic dislocation of the pandemic to make operational changes they have long resisted.

The Almighty Buck

Bill Gates, Elon Musk Both Warn 'Don't Go Too Far with Crypto Speculation' (msn.com) 154

From a report: Microsoft CEO Bill Gates has an interesting take on who should buy Bitcoins. He being the third richest man in the world said that Bitcoins are not for him because he has less money than Tesla CEO Elon Musk. So basically anybody who has less money than Musk should not invest in Bitcoin...

Gates during an interview with Bloomberg TV had said that Bitcoin is not for everyone and only the richest person in the world should consider investing in it. "Elon has tons of money and he's very sophisticated, so I don't worry that his Bitcoin will sort of randomly go up or down.I do think people get bought into these manias who may not have as much money to spare. My general thought would be that if you have less money than Elon, you should probably watch out," Gates said in the interview.

Last week Australia's national broadcast reported that even Elon Musk "has made it clear that he views cryptocurrency as 'speculation.'" On February 7 (the night before Tesla revealed its massive bet on crypto), Mr Musk was on his way to have dinner with his children at an upmarket steakhouse in West Hollywood. Before he reached its front door, he was intercepted by a legion of adoring fans — who demanded autographs, while peppering him with questions about the cryptocurrency market.

The world's richest man had been talking up bitcoin, along with a "joke" currency called "dogecoin", which has surged about 900 per cent since the year began. There were signs that Mr Musk was worried that some of his fans might be taking his recent crypto jokes as genuine investment advice.

"People should not invest their life savings in cryptocurrency, to be clear — that's unwise," Mr Musk said, in his clearest warning yet.

"There's a good chance that crypto is the future currency of Earth, and it's like... which one's it going to be? Maybe it'll be multiple. It should be considered speculation at this point.

"So don't go too far with the crypto speculation front."

Later in the video Musk adds, "Don't bet the farm on crypto."
The Almighty Buck

Credit Card Payment Systems Crashed Friday at Stores and Restaurants Across America (businessinsider.com) 88

On Friday credit-card payment systems went down for major businesses scattered across the U.S. Business Insider reports: Fiserv, one of the leading payments providers in the US, told Insider, "A widespread internet service provider outage has impacted multiple businesses today." Ann Cave, a company spokesperson, added in an email: "Some Fiserv services that rely on internet connectivity were interrupted. The majority have been restored and we are fully focused on restoring the remainder...."

Customers on Twitter reported outages at Ikea, Forever 21, McDonald's, and Popeyes, as well as at local places like a car wash and the New Jersey Motor Vehicle Commission. Representatives from the businesses weren't immediately available for comment on Friday.

A Chick-fil-A representative confirmed to the site that their systems were unable to process payments for about one hour. "But for some customers, there was a silver lining. Many Chick-fil-A restaurants started handing out free meals during the outage." Miami International Airport also announced warned customers on Twitter about a county-wide outage with credit-card machines "in all taxis."

Long-time Slashdot reader phalse phace sees a lesson. "You know that cashless society that payment network operators, banks and businesses want? It doesn't work when your payment processor can't process those digital payments."
Businesses

Did 'Tens of Thousands' of Bot Accounts Hype GameStop's Stock and Dogecoin? (reuters.com) 45

Reuters reports: Bots on major social media platforms have been hyping up GameStop Corp and other "meme" stocks, according to an analysis by Massachusetts-based cyber security company PiiQ Media, suggesting organized economic or foreign actors may have played a role in the Reddit-driven trading frenzy... it is unclear how influential they were in the overall saga...

PiiQ said it identified very similar daily "start and stop patterns" in the GameStop-related posts, with activity starting at the beginning of the trading day, followed by a large spike at the end of the trading day. Such patterns are indicative of bots, said Aaron Barr, co-founder and chief technology officer of PiiQ. "We saw clear patterns of artificial behavior across the other four social media platforms. When you think of organic content, it's variable in the day, variable day-to-day. It doesn't have the exact same pattern every day for a month," he said... The company did not analyze Reddit data, but Barr said he would expect to see a similar pattern of activity on Reddit, indicating bot-like or coordinated management of conversations...

Based on its authenticity scoring system, PiiQ estimates there are tens of thousands of bot accounts hyping GameStop, the meme stocks, and Dogecoin, a cryptocurrency swept up in the frenzy. Thousands of fake accounts can be purchased for as little as $200, it said.

Reuters also reports that Friday America's Securities and Exchange Commission "suspended trading in 15 companies due to unusual trading activity and apparent attempts on social media to artificially inflate their stock prices. That is in addition to six stocks it recently suspended due to suspicious social media activity."
Bitcoin

Vast Energy Use of Bitcoin Criticized (bbc.com) 312

The University of Cambridge Centre for Alternative Finance has calculated that Bitcoin's total energy consumption is somewhere between 40 and 445 terawatt hours (TWh) a year, with a central estimate of about 130 terawatt hours, reports the BBC: The UK's electricity consumption is a little over 300 TWh a year, while Argentina uses around the same amount of power as the CCAF's best guess for Bitcoin. And the electricity the Bitcoin miners use overwhelmingly comes from polluting sources. The CCAF team surveys the people who manage the Bitcoin network around the world on their energy use and found that about two-thirds of it is from fossil fuels....

We can track how much effort miners are making to create the currency. They are currently reckoned to be making 160 quintillion calculations every second — that's 160,000,000,000,000,000,000, in case you were wondering. And this vast computational effort is the cryptocurrency's Achilles heel, says Alex de Vries, the founder of the Digiconomist website and an expert on Bitcoin. All the millions of trillions of calculations it takes to keep the system running aren't really doing any useful work. "They're computations that serve no other purpose," says de Vries, "they're just immediately discarded again. Right now we're using a whole lot of energy to produce those calculations, but also the majority of that is sourced from fossil energy."

The vast effort it requires also makes Bitcoin inherently difficult to scale, he argues. "If Bitcoin were to be adopted as a global reserve currency," he speculates, "the Bitcoin price will probably be in the millions, and those miners will have more money than the entire [U.S.] Federal budget to spend on electricity."

"We'd have to double our global energy production," he says with a laugh. "For Bitcoin."

Ken Rogoff, a professor of economics at Harvard and a former chief economist at the IMF, tells the BBC that Bitcoin exists almost solely as a vehicle for speculation, rather than as a stable store of value that can be easily exchanged.

When asked if the Bitcoin bubble is about to burst, he answers, "That's my guess." Then pauses and adds, "But I really couldn't tell you when."
Bitcoin

Dropping Nearly 20%, Bitcoin Suffers Worst Weekly Drop in a Year (fortune.com) 140

"Bitcoin's rally this year has hit a speed bump, putting it on track for the worst weekly slide in almost a year amid wider losses in risk assets," reports Fortune: The largest cryptocurrency slumped as much as 20% this week, the most since March, and was holding at about $46,925 as of 10:22 a.m. in Hong Kong. The wider Bloomberg Galaxy Crypto Index, tracking Bitcoin, Ether and three other cryptocurrencies, is down 22% this week...

Bitcoin's weakness in the face of market gyrations raises questions about its efficacy as a store of value and hedge against inflation, a key argument among proponents of its stunning fivefold rally over the past year. Detractors have maintained the digital asset's surge is a speculative bubble and it's destined for a repeat of the 2017 boom and bust.

While Bitcoin is often touted as the new "digital gold," the yellow metal is winning out at the moment with spot gold holding at $1,768 per ounce, down less than 1% for the week.

Mars

The Mars Perseverance Rover's Parachute Contained a Secret Message (apnews.com) 14

"The huge parachute used by NASA's Perseverance rover to land on Mars contained a secret message," reports the Associated Press — thanks to the rover's puzzle-loving systems engineer Ian Clark.

"During a live stream discussing the landing, one Nasa commentator said: 'Sometimes we leave messages in our work for others to find. So we invite you all to give it a shot and show your work,'" reports the Guardian.

One Reddit user actually deciphered the message using Python code.

Long-time Slashdot reader rufey writes that "Decoded the slogan is 'Dare Mighty Things' — a line from President Theodore Roosevelt — which is a mantra at JPL and adorns many of the center's walls." The orange sections of the 70-foot (21-meter) parachute represented ones in binary code, while the yellow sections represented zeroes. (So the letter "A" becomes yellow-yellow-yellow-yellow-yellow-yellow-orange...) The Associated Press reports: Clark also included the GPS coordinates for the mission's headquarters at the Jet Propulsion Laboratory in Pasadena, California. Clark, a crossword hobbyist, came up with the idea two years ago. Engineers wanted an unusual pattern in the nylon fabric to know how the parachute was oriented during descent. Turning it into a secret message was "super fun," he said Tuesday. Only about six people knew about the encoded message before Thursday's landing, according to Clark. They waited until the parachute images came back before putting out a teaser during a televised news conference Monday...

Another added touch not widely known until touchdown: Perseverance bears a plaque depicting all five of NASA's Mars rovers in increasing size over the years — similar to the family car decals seen on Earth.

Deputy project manager Matt Wallace promises more so-called hidden Easter eggs...

The official Twitter feed for the rover has already revealed that it's carrying another message hidden in a plaque with a logo of the sun — "Explore as One," written in Morse code.

Some other interesting facts about the rover:
The Almighty Buck

Why an Animated Flying Cat With a Pop-Tart Body Sold for Almost $600,000 (nytimes.com) 90

In the 10 years since Chris Torres created Nyan Cat, an animated flying cat with a Pop-Tart body leaving a rainbow trail, the meme has been viewed and shared across the web hundreds of millions of times. On Thursday, he put a one-of-a-kind version of it up for sale on Foundation, a website for buying and selling digital goods. In the final hour of the auction, there was a bidding war. Nyan Cat was sold to a user identified only by a cryptocurrency wallet number. The price? Roughly $580,000. From a report: Mr. Torres was left breathless. "I feel like I've opened the floodgates," he said in an interview on Friday. The sale was a new high point in a fast-growing market for ownership rights to digital art, ephemera and media called NFTs, or "nonfungible tokens." The buyers are usually not acquiring copyrights, trademarks or even the sole ownership of whatever it is they purchase. They're buying bragging rights and the knowledge that their copy is the "authentic" one.

Other digital tokens recently sold include a clip of LeBron James blocking a shot in a Lakers basketball game that went for $100,000 in January and a Twitter post by Mark Cuban, the investor and Dallas Mavericks owner, that went for $952. This month, the actress Lindsay Lohan sold an image of her face for over $17,000 and, in a nod to cryptocurrencies like Bitcoin, declared, "I believe in a world which is financially decentralized." It was quickly resold for $57,000. People have long attached emotional and aesthetic value to physical goods, like fine art or baseball cards, and have been willing to pay a lot of money for them. But digital media has not had the same value because it can be easily copied, shared and stolen.

Blockchain technology, which is most often associated with Bitcoin, is changing that. NFTs rely on the technology to designate an official copy of a piece of digital media, allowing artists, musicians, influencers and sports franchises to make money selling digital goods that would otherwise be cheap or free. In an NFT sale, all the computers hooked into a cryptocurrency network record the transaction on a shared ledger, a blockchain, making it part of a permanent public record and serving as a sort of certification of authenticity that cannot be altered or erased. The nascent market for these items reflects a notable, technologically savvy move by creators of digital content to connect financially with their audience and eliminate middlemen. Some NFT buyers are collectors and fans who show off what they have bought on social media or screens around their homes. Others are trying to make a quick buck as cryptocurrency prices surge. Many see it as a form of entertainment that mixes gambling, sports card collecting, investing and day trading. Eye-popping NFT sale prices have attracted some of the same confusion and derision that have long haunted the cryptocurrency world, which has struggled to find a good use for its technology beyond currency trading.

Programming

Amazon Gives Code.org $15 Million To 'Reimagine' Advanced Placement CSA 65

theodp writes: Amazon on Wednesday announced it has lined up the support of Governors and State School Superintendents from five 'key states' for a pilot that aims to reimagine the Java-based Advanced Placement Computer Science A (AP CS A) course taken by high school students for college credit. By doing so, Amazon indicated it hopes to address "the diversity gaps in today's technology workforce."

From the press release: "Amazon's signature computer science education program, Amazon Future Engineer, is trying to help close those gaps by donating $15 million to Code.org over three years. The money will support the creation of the new equity-minded curriculum and other initiatives designed to reach more students from underrepresented groups. The initiatives aim to increase student awareness of academic and career pathways in computer science as well as equip them to be successful in college-level computer science and beyond. Working together, we have our eyes set on an ambitious goal of doubling the participation of students from underrepresented groups in AP CSA within five years of the course's launch."

After CEO Jeff Bezos came under fire [PDF] last summer for the company's continued resistance to making its EEO-1 diversity regulatory filing public, Amazon finally agreed to publicly disclose its race, gender and ethnicity workforce data sometime in 2021.
Twitter

Twitter Announces Paid Super Follows To Let You Charge For Tweets (theverge.com) 72

Twitter announced a pair of big upcoming features today: the ability for users to charge their followers for access to additional content, and the ability to create and join groups based around specific interests. From a report: They're two of the more substantial changes to Twitter in a while, but they also fit snugly into models that have been popular and successful on other social platforms. The payment feature, called Super Follows, will allow Twitter users to charge followers and give them access to extra content. That could be bonus tweets, access to a community group, subscription to a newsletter, or a badge indicating your support. In a mockup screenshot, Twitter showed an example where a user charges $4.99 per month to receive a series of perks. Twitter sees it as a way to let creators and publishers get paid directly by their fans.

[...] Twitter also announced a new feature called Communities, which appear to be its take on something like Facebook Groups. People can create and join groups around specific interests -- like cats or plants, Twitter suggests -- allowing them to see more tweets focused on those topics. Groups have been a huge success for Facebook (and a huge moderation problem, too), and they could be a particularly helpful tool on Twitter, since the service's open-ended nature can make it difficult for new users to get started on the platform.

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