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clement1668 · 5 years ago

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Crowdsourcing & Crowdfunding

What is Crowdsourcing?

Crowdsourcing includes the aggregation of work, information and opinions from a wide number of individuals who use the Internet , social media and smartphone applications to contribute their data (Hargrave 2019).

What is Crowdfunding?

Crowdfunding has collected a small amount of money from a vast group of people to fund a new venture, according to Smith ( 2019). Crowdfunding offers a high degree of access to social networking and crowdfunding sites for people's networks. Hundreds of thousands of people have been motivated by popular crowdfunding sites like kickstarter to invest in the next important thing. More than 160,000 projects have been funded on-site since 2009 and Kickstarter projects have raised more than $4.2 billion in donations.

Where can Crowdsourcing be applied?

Crowdsourcing is used through both corporate and social experiences. The way people are hiring, working, assembling and selling is changing. In addition, politicians are using crowdsourcing to create a platform for people to voice their views. Parliament & Public, for example, is an online website used in France by politicians and residents for political and legislative discourse. The final report will provide guidance at the end of this time as to when and how public feedback is used in the draught regulations (Opinion 2018). Useful clinical data can also be produced by crowdsourcing in the health and science industries. One example is Harvard's Eliot Van Buskirk Multi-Source Diabetes Project. InnoCentive opened two years ago at the School of Clinical and Translation Sciences, where people can ask questions about diabetes and experts can answer questions. Money prizes give the best responses and questions (Continuum n.d.).

What is the difference between Crowdsourcing and Crowdfunding?

Crowdsourcing is basically a process in which people search information together, while crowdfunding means that people make voluntary contributions to support start-ups, organisations or even individuals (Harvard 2019). (The Harvard 2019).

Let 's find the example of Crowdsourcing and Crowdfunding

'Ushahidi' is a good example in the field of crowdsourcing. Ushahidi is a website that lets users transfer text messages or news items to a Google Map and it means 'testimony' as it is translated to Swahili. This website was set up by David Kobia and 20 other Kenyan entrepreneurs living in the USA to relay news to more than 45.000 Kenyans about death, abduction, theft and other abuses. Many that want to share their stores could post reports through SMS or the site itself, which makes it a valuable tool for people with silenced media voices. The app was successful in alleviating conflict in Kenya, prompting developer teams to invest more money on the initiative and upgrading the software by adding Twitter , Facebook and the most up-to - date on the web to display overtime crowd-sourced images of events on a single map (Ford, 2012).

The Starbucks Cup Design Rivalry is also an example of crowdsourcing. The cups used by Starbucks coffee, rather than the Starbucks white logo, are white in colour. This inspired the Starbucks baristas to qualify for the White Cup award in the spring of 2014. Starbucks consumers had to prepare their cups with their own original designs, take a snapshot of the cup and upload it on social media via the hashtag # white cup competition. There were four thousand separate ideas over the span of a few months, and the selected versions that were won were used for the 2014 recycled limited edition cup. Every year, reusable cups come in different types. Each cup costs $1 and is available 30 times before disposal. For those who have used these recycled cops if they buy Starbucks products, a discount of 10 cents is issued. This is Starbucks' effort to become greener and more eco-friendly and to encourage more creative individuals (Speier 2016).

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Indiegogo is a very good example of crowdfunding. In 2008, Indiegogo started to become more flexible and expansive with the financing of different forms of projects, such as charities and start-ups, as a crowd-sourcing network that raises money to support independent films (Smith, 2019).

Patreon is another example of this. Patreon is a website set up by authors, musicians and others. Artists, dancers, or even others who teach how to make kitchen stuff like chairs and tables. These developers can learn advanced tutorials in which expert and frequent users can pay extra money to access the tools they want while at the same time financing their content creators.

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Effects of fake news on Crowdsourced information

What information is correct online can be difficult to understand. The exponential growth of "false news" and its propensity to spread through traditional news will make a rather confusing distinction between accurate evidence and inaccuracies (Carufel 2019). However, a recent investigation has shown that crowdsourcing is the key to avoiding the danger of misleading news. The approach to combating fake news was based on public opinion polling to assess the level of public trust in 60 news sources, including 'hyper-partisan' networks, as studied by MIT scholars David Rand and Gordon Pennycook. After analysing the results , the researchers concluded that the implementation of classified news coverage scores could help to remove incorrect data (Gaszcz 2019).

List of References

‘What is Crowdsourcing?’ 2019, Crowdsourcing Week, viewed 1 November 2020, <https://crowdsourcingweek.com/what-is-crowdsourcing/>.

Smith, T 2019, ‘Crowdfunding’, Investopedia, viewed 1 November 2020, <https://www.investopedia.com/terms/c/crowdfunding.asp>.

Hargrave, M 2019, ‘Crowdsourcing’, Investopedia, viewed 1 November 2020, <https://www.investopedia.com/terms/c/crowdsourcing.asp>.

Carufel, R 2019, ‘Fighting the spread of fake news- why crowdsourcing is effective’, Agility, viewed 1 November 2020, <https://www.agilitypr.com/pr-news/public-relations/fighting-the-spread-of-fake-news-why-crowdsourcing-is-effective/>.

‘A hundred places where governments are using tech to crowdsource policy’ 2018, Apolitical, viewed 1 November 2020, <https://apolitical.co/solution_article/a-hundred-places-where-governments-are-using-tech-to-crowdsource-policy/>.

Thrope, D 2018, ‘What is crowdfunding?’, Forbes, 26 June, viewed 1 November 2020, <https://www.forbes.com/sites/devinthorpe/2018/06/25/what-is-crowdfunding/#19ad30e965c5>.

Speier, K 2016, ‘4 Examples of Clever Crowdsourcing Campaigns’, Main Street Host Digital Marketing Agency, 7th January, viewed 1 November 2020 <https://www.mainstreethost.com/blog/four-examples-of-clever-crowdsourcing-campaigns/>

Nations, N 2019, ‘What Is Patreon? And How Does It Work?’, Lifewire, 18th November, viewed 1 November 2020 <https://www.lifewire.com/what-is-patreon-4145695>

#mda2009 #week8 #crowdsourcing #crowdfunding #starbucks #patreon

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its-cryptocurrencyblog-blog · 6 years ago

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How cryptocurrency can be used in real life

Cryptocurrency is taking over almost every industry whether we realize that or not. It’s exponential growth over the years has more and more people opt for crypto as an alternative currency. There are several hundred cryptocurrencies and are all listed on Coinmarketcap with the number increasing steadily every day.

Since cryptocurrencies are decentralized, they have umpteen uses, each more exciting then the next. Most people don't even know any cryptocurrencies real world applications. In fact, it comes as a surprise to most people that there are in fact multiple uses for cryptocurrency in everyday life. Not just that, applying cryptocurrency for everyday use also lets users reap multiple benefits

There are a lot of industries that have already started transacting using cryptocurrency. Here's taking a look at some of the numerous examples:

1- Travel Industry

There are so many ways you can use cryptocurrencies and each use case may come as a surprise to you. Surprising because you don't expect to be able to use your coins like that. Travel is one such industry where in cryptocurrency payments are being integrated. Cheapair.com is an example of exactly that.

The company has been accepting Bitcoin as a form of payment when it comes to purchasing flights, hotels, car rentals and cruises since 2013! So, if you want to go on a tour, you can do your travelling around the world with the help of your Bitcoins.

2- Real estate

Yes! You can even buy a house using your cryptocurrency! And blockchain is what made it possible. Propy.com is the world’s first international real estate that accepts cryptocurrency as payment to enable you to buy property.

Many companies have now made cryptocurrency payments a reality for buying property. The first international site which has made this possible is Propy.com, they allow users purchase properties using cryptocurrency.

As per the sources, Multiple transactions have already made here including the purchase of some spectacular villas in Indonesia worth 1000 BTC in 2014, 3 acres of land in Paradise Bay and 157,000 BTC home in Vegas.

3- Education

This one is sure to take you by surprise. Education institutions are also accepting cryptocurrency as a form of payment! Futurism.com gives you a list of universities in Switzerland, Cyprus, United States and Germany too as they now accept Bitcoin payments.

The University of Nicosia which is in Cyprus is the first accredited university in history to accept cryptocurrency for not just tuition but also for any other fees that they may need to pay through Bitpay.

It is great to see that this form of payment is increasing because of its increase in popularity and also since a lot of people now find it easier and more convenient to use.

4- Fast Food Restaurants

Fast food restaurants are also a part of this entire escapade. One of the first known bitcoin transactions happened over food, with someone using their coins to buy themselves some pizza.

Subway, a very popular brand in the fast food industry, has now started accepting cryptocurrency as one of the payment options. Pizzaforcoins is a company that accepts crypto payments and in fact accept around 50 types of crypto coins making it super-convenient for consumers.

5- De Corrupting Charities

Most people want to do charity, people want to help each other out. But the extensive corruption in charities has deterring loads of well-wishers from a part of it. And if the well-wishers stop donating funds then the ones who actually need and deserve them will also be stopped

Blockchain and Cryptocurrency helps to solve this entire problem. It can be used to deter corruption as well as prevent fund leaks that occur within charities. The World Food Program (WFP) has already begun and made an attempt to use blockchain to give cash assistance to the hungry. This cryptocurrency practical use case helps in bringing a positive change in the society.

This content originally posted on Digital Ticks and has been taken from: https://www.digitalticks.com/blogs/How-cryptocurrency-can-be-used-in-real-life.html

#Blockchain #Bitcoins (BTC)#Ethereum (ETH)#Digital Ticks (DTX)#USDM #Cryptocurrency #Digital Currency #Alt Coins #Currency Exchange #Bitcoin Price #Bitcoin Trading #Stablecoin #Virtual Currency Trading #Virtual Currency Exchange #Altcoins Price.#Virtual Currency

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jgkoomey · 7 years ago

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Talking Sense About Bitcoin Electricity Use

There’s been a lot written over the past couple of years about the electricity used to mine Bitcoin, the most prominent of many cryptocurrencies. I can best summarize the credibility and tone of that coverage with the following headline from Newsweek:

Bitcoin Mining On Track To Consume All Of The World’s Energy By 2020

This kind of headline makes me cringe, because it’s

1) an invalid extrapolation of oversimplified calculations that are no better than guesses that may mislead investors into taking rash actions; and (less importantly)

2) Bitcoin mining uses electricity, not (usually) other forms of energy.

I’ve been studying the electricity used by computing equipment for more than two decades, so I have some things to say about this latest outbreak of people taking leave of their critical faculties.

I’m also the author of an award winning book on critical thinking skills (among many other books and articles), recently out in its 3rd edition (Turning Numbers into Knowledge: Mastering the Art of Problem Solving, October 1, 2017).

In this post, I lay out my thoughts about how sensible people can avoid being misled by the hype machine on Bitcoin electricity use. I created a blog page that lists the recent links I’ve been able to find on this topic, which you can find here.

I’m making no judgment here about whether Bitcoin is something that society shouldbe doing, just focusing on the narrow question of what we know about the estimates of electricity used by Bitcoin currently making the rounds.

PRELIMINARIES

Bitcoin is what’s called a “cryptocurrency”, which is a digital medium of exchange and a store of value under decentralized control (unlike traditional currencies that are created and regulated by governments). The technology underlying Bitcoin and other cryptocurrencies is what’s called “block chain”, which is a decentralized way to establish and maintain trust among people interacting with each other.

Bitcoin is a public, permissionless block chain that uses what’s called “proof of work” to establish this trust. There are other types of block chains, and in some cases these can be designed to be less computationally and energy intensive than Bitcoin. I’ll explore the implications of this fact below.

There are at least a couple of credible academic studies of Bitcoin electricity use (O’Dwyer and Malone 2014 and Vrankan 2017), but things change so fast in this field that estimates become outdated in weeks or months.

BRANDOLINI’S LAW GOVERNS

In 2014, and Italian software developer named Alberto Brandolini made the following trenchant observation, which has come to be known as Brandolini’s law, or the BS asymmetry principle (where BS stands for bull manure in polite company):

The amount of energy needed to refute BS is an order of magnitude bigger than to produce it.

This “law” encapsulates one important reality of living in the digital age: it’s easier to create ostensibly accurate but incorrect numbers than it is to demonstrate why such numbers are invalid. That is the nature of careful analysis, but people have come to expect instant answers on new topics, even when there isn’t any real data or research. That’s the case for Bitcoin electricity use, which has emerged as a topic of wide public interest only in the past couple of years.

My corollary to Brandolini’s law is that

In fast changing fields, like information technology, BS refutations lag BS production more strongly than in fields with less rapid change.

This corollary places special obligations on media producers and consumers (Koomey 2014).

KNOW YOUR HISTORY

Information technology changes at a much more rapid pace than many other technologies (Nordhaus 2007, Koomey et al. 2011, Koomey et al. 2013, Koomey and Naffziger 2016). Unfortunately, innumerate observers love to mindlessly extrapolate rapid exponential growth rates to create “clickbait” headlines like the one in Newsweek I cited above. There’s also a tendency to assume that because information technology is economically important that it also must use a lot of electricity, but that’s just not the case.

Here are a couple of historical examples.

In 2003, writing in IEEE Spectrum, I cited an anecdote from Andrew Odlyzko, formerly at AT&T, now at the University of Minnesota (Koomey 2003). Odlyzko documented the genesis of a familiar “factoid” from the mid-1990s (“the Internet doubles every 100 days”) that led to a substantial overinvestment in the fiber optic network. This misconception

was based on data reported by UUNet, the first commercial Internet service provider, in the mid-1990s. In those days, at least for a brief time, such growth rates actually prevailed. But for almost all the rest of the 1990s, data flows were doubling only every year or so, as documented by Kerry Coffman and Andrew Odlyzko of AT&T Corp. and reported by The Wall Street Journal in 2002.

The difference between the two growth rates is huge: because of the magic of compounding, a doubling of traffic every 100 days translates into growth of about 1000 percent a year, rather than the 100 percent-a-year growth represented by an annual doubling.

During the dot-com boom, industry leaders, investment analysts, and the popular press repeated that gross overestimate of the growth of Internet data flow. The bogus figures helped justify dubious investments in network infrastructure and contributed greatly to overcapacity in the telecommunications and networking industries. Only a tiny fraction of this network capacity is now [circa 2003] being used, and billions of dollars [were] squandered because of blind acceptance of flawed conventional wisdom.

Misleading factoids about information technology electricity use emerged from coal-industry funded studies around the year 2000, at the time of the first dot com bubble and the California electricity crisis. They popped up again, from the same authors and funders, in 2005and 2013. The claims were reported in every major newspaper, cited by investment banking reports and politicians of both political parties, and avidly promoted by people and companies who should have known better.

The authors claimed that the Internet used 8% of US electricity in 2000, that all computers (including the Internet) used 13%, and that the total would grow to 50% of US electricity in 10 years. The authors also claimed that a wireless Palm VII used as much electricity as a refrigerator (later updated to an iPhone using as much electricity as TWO refrigerators) for the networking to support its data flows.

All of these claims turned out to be bunk, but it took years of creating peer reviewed research to prove it. We found that the Internet (defined as those authors defined it) used only 1% of US electricity in 2000, all computers used 3%, the total would never grow to half of all electricity use, and that the factoid about the wireless Palm VII overestimated networking electricity by a factor of 2000. In virtually every case, we found that those authors had overestimated electricity used by computing equipment. For a summary of these claims and a review of their effects on investors, see the Epilogue to the 3rd Edition of Turning Numbers into Knowledge.

These examples came to mind when I first heard about recent claims about Bitcoin electricity use, but the Bitcoin issue has some unique features.

BEWARE OF HAND WAVING ESTIMATES

The web site Digiconomist is the source for many media estimates of Bitcoin electricity use. The site is the creation of Alex de Vries, an economist in the Netherlands, and he summarizes his estimates in the form of his “Bitcoin consumption index”. Figure 1 is a screen shot of that index for roughly the past 16 months, showing TWh (terawatt-hours or billion kWh) on the Y-axis and time on the X-axis:

One important feature of cryptocurrency electricity use is that you need to specify the exact day to which your estimate applies. That’s because Bitcoin mining is increasing rapidly over time, so generating a monthly or annual average isn’t accurate enough. Such growth makes estimates from only a couple of years back less useful for estimating current day Bitcoin electricity use than you might expect.

De Vries recently published a commentary article in the journal Joule, in which he summarized the method for generating the Bitcoin consumption index. De Vries is able to create a time series day by day because he generates the index using following data:

1) the price of bitcoin over some time period (it was about $6300 as of today, October 29, 2018);

2) the number of Bitcoins mined over that same time period;

3) an assumption about the percentage of the bitcoin price that is electricity (60%), which would include both direct electrcity use for bitcoin mining rigs and the supporting infrastructure electricity(cooling, fans, pumps, power conversion, etc); and

4) an assumption about the price of electricity (5¢ US/kWh)

Figure 1: Digiconomist Bitcoin Energy Consumption Index

The price of bitcoin over some time period times the number of Bitcoins mined in that period (plus transaction fees) gives total revenues, which are multiplied by 60% to get electricity expenditures. Those expenditures are divided by the assumed electricity price to get electricity consumption of the network in TWh.

The calculation has the advantage of being tractable using available data, but it relies on assumptions about economic parameters and Bitcoin miner behavior (e.g., optimal allocation of mining resources) to estimate physical characteristics of a technological system.

Calculations like these set off alarm bells for me. Economic parameters (like Bitcoin prices) are volatile, and are at best imperfectly correlated with electricity use. In real economic systems, there may be a tendency towards optimality, but they often don’t get close because of transaction costs, cognitive failures, and other imperfections in people and institutions. In addition, the assumptions used by Digiconomist are so simplistic as to make any credible analyst wary.

DOING IT RIGHT

The more direct way to estimate electricity used by equipment is to understand the characteristics of the underlying computing, cooling, and power distribution equipment using field data (as we did for our most recent data center report). Unfortunately, aside from a few anecdotes in the trade and popular press, there’s little information on Bitcoin mining operations.

The servers used for Bitcoin mining are nowadays customized for just that application, and they bear little resemblance to standard server hardware installed in corporate or hyperscale data centers. Because these custom servers have not been tracked by the big data providers (like IDC and Gartner), we have only guesses/estimates as to how many are being built. We know almost nothing about where they’re being installed. And our knowledge of the power systems and cooling equipment in these facilities is virtually nil.

These data issues make it hard to create accurate estimates of electricity used by Bitcoin mining in the aggregate. This is probably why de Vries used his simplified economic approach to generate his index, but that doesn’t mean this method is a reliable indicator of Bitcoin electricity use.

Marc Bevand, an “analyst and crypto[currency] entrepreneur”, critiqued the Digiconomist estimates on February 1, 2017. Most importantly, he expressed concern over the arbitrary choice of 60% of revenues being electricity, and showed a range in his data (based on real equipment) of between 6.3% and 38.6%. Using a more refined approach and more detailed information about the characteristics of Bitcoin mining rigs over time, he estimated Bitcoin electricity use for February 26, 2017, July 28, 2017, and January 11, 2018. Figure 2 compares the Bevand and Digiconomist estimates for those three days.

Bevand did not generate day by day estimates for the intervening periods as Digiconomist does, but these three data points are enough to teach some important lessons. Both sources show growth of about fourfold between February 26, 2017 and January 11th, 2018. That’s rapid growth compared to conventional end-uses, so it’s not surprising that Bitcoin is getting more attention. The big difference is in the absolute electricity consumption. Bevand’s estimates are less than half of the Digiconomist estimates. They also are far more technically detailed and less dependent on high level arbitrary assumptions, which makes them more trustworthy, in my view.

Another important finding from this graph is the relative scale. The world used 21,200 TWh/year in 2016, the latest year for which I could find historical data, and this number increases by only a few percent a year, if history is any guide. This means that on January 11, 2018, Bitcoin accounted for about 0.1% of global electricity if Bevand’s numbers are correct.

Figure 2: Comparison of Digiconomist and Bevand Estimates of Bitcoin Electricity Use

IT’S NOT A CRISIS, BUT MORE RESEARCH IS NEEDED

According to the International Energy Agency, data centers and global networking equipment each accounted for about 1% of global electricity use in 2014, for a total of 2% (IEA 2017). In addition, growth in electricity use for data centers appears to have slowed substantially in recent years, as is also true for the US (Shehabi et al. 2016). Because of inefficiencies in current corporate data centers, little if any growth is expected for electricity use of data centers as a whole over the next couple of years.

Mining Bitcoin accounts for about 0.1% of global electricity use if Bevand’s estimates are correct, implying that total data center electricity use is about 5% bigger than what IEA estimates (Bitcoin isn’t included in those figures). Without better data, it’s hard to be any more precise than that.

Recent growth rates for Bitcoin mining are substantial, and if that growth continues at anywhere near current rates, Bitcoin electricity use will become more important soon. Continued growth in Bitcoin mining electricity use depends on the price of bitcoin, the difficulty of mining Bitcoin (which goes up as mining speed goes up), and the rate of efficency improvements in Bitcoin mining rigs. It also depends on electricity prices, the cost of mining equipment, and the continued laissez-faire attitude many governments have about Bitcoin (which could change quickly, but no one can predict if or when that might happen).

One thing we should NOT do is recklessly extrapolate recent growth rates for Bitcoin into the future, as the Nature Climate Change article coming out today appears to do (Mora et al. 2018). I cannot emphasize enough how dangerous, irresponsible, and misleading such extrapolations can be, and no credible analyst should ever extrapolate in this manner, nor should readers of reports on this topic fall for this well-known mistake.

Another big uncertainty is that we know even less about other cryptocurrencies than about Bitcoin, so more research is clearly needed there. The electricity use for non-Bitcoin cryptocurrencies should be tallied, both because the total is important and because these other cryptocurrencies (which can be MUCH more energy efficient than Bitcoin) may represent competition to Bitcoin if the electricity demands of Bitcoin become unmanageable.

We urgently need measured data about Bitcoin mining facilities in the field, including characteristics of Bitcoin mining rigs and the power and cooling infrastructure needed to support them. The Digiconomist estimate uses very high level assumptions and data to estimate electricity use, while Bevand creates a more detailed technical estimate, but neither includes much if any field data on actual equipment in real facilities. If we’re to get a better handle on Bitcoin electricity use, such field studies and data are vital.

A colleague (Professor Eric Masanet) and I have secured a small amount of funding to investigate the implications of block chains for electricity use, and that project begins in November 2018. To do such analyses properly (as we did in 2007, 2008, 2011, 2013, and again in 2016 for US data center electricity use) takes teams of scientists and hundreds of thousands of dollars, so it’s no surprise this emergent issue hasn’t yet been carefully studied (EPA 2007, Koomey 2008, Masanet et al. 2011, Masanet et al. 2013, Shehabi et al. 2016). Policy makers naturally want answers quickly, but until more research is funded, there’s not a whole lot more we can say about this issue.

OTHER LESSONS

While I encourage everyone in the electricity sector to track Bitcoin as a potential source of new load growth, please use caution and avoid being misled by the hype. Breathless media coverage papers over the uncertainties in the underlying data, and makes it seem like Bitcoin is taking over the world, but in fact it’s likely only 0.1% of global electricity consumption, and it is unlikely to continue growing at recent historical rates.

Because the rate of change in Bitcoin electricity use can be rapid, it is critically important that no estimates of electricity use be cited or reported unless the day to which that estimate applies is also reported. It is not sufficient to report the year in which an estimate applies, because things change so fast.

If there are many mining facilities proposed in a utility service territory, I suggest that they be charged the full cost of transmission and distribution infrastructure investments up front. Bitcoin mining can disappear just as fast as it rose to prominence, and you don’t want ratepayers to be left holding the bag. I’m not predicting that outcome, just pointing it out as a possibility with real risks to utility ratepayers.

If Bitcoin electricity use becomes more important, we’re likely to face questions about whether to allocate limited zero emissions generation resources to power it. If we use it for Bitcoin, we can’t use it elsewhere, so we’ll have to choose. This concern should factor into the needed societal conversation about whether cryptocurrencies are something we should as a society encourage.

The method for ascertaining trust for Bitcoin is needlessly computationally intensive, and other cryptocurrencies have taken a different tack. Resource intensity can be reduced substantially (i.e., by orders of magnitude) with software and protocol redesign, so it’s not just a question of hardware efficiency. As use cases for cryptocurrencies emerge, we’ll need to confront the possibility that more efficient cryptocurrency designs may be a better fit than Bitcoin for a low emissions world.

CONCLUSIONS

It’s still early days for cryptocurrency and the data on its electricity use are still too poor to derive firm conclusions. The issue bears watching, but caution is indicated, particularly when large investments are involved (like for transmission lines and distribution transformers for new bitcoin mining facilities). Media observers should beware of mindless extrapolations of recent trends, as such simpleminded methods can lead to consequential mistakes. At this point (as of January 11, 2018), Bitcoin mining accounts for about 0.1% of global electricity use, but recent growth has been rapid. What happens next is up to us.

ACKNOWLEDGMENTS

Professor Harald Vrankan of the Open University of the Netherlands and Jens Malmodin of Ericsson gave comments on an earlier version of this blog post. The author is responsible for the blog post itself and any errors contained herein.

REFERENCES

IEA. 2017. Digitalization and Energy. Paris, France: International Energy Agency. [https://www.iea.org/digital/]

Koomey, Jonathan. 2003. "Sorry, Wrong Number: Separating Fact from Fiction in the Information Age." In IEEE Spectrum. June. pp. 11-12. [http://ieeexplore.ieee.org/xpls/abs_all.jsp?arnumber=1203076&tag=1]

Koomey, Jonathan. 2008. "Worldwide electricity used in data centers." Environmental Research Letters. vol. 3, no. 034008. September 23. [http://stacks.iop.org/1748-9326/3/034008]

Koomey, Jonathan G., Stephen Berard, Marla Sanchez, and Henry Wong. 2011. "Implications of Historical Trends in The Electrical Efficiency of Computing." IEEE Annals of the History of Computing. vol. 33, no. 3. July-September. pp. 46-54. [http://doi.ieeecomputersociety.org/10.1109/MAHC.2010.28]

Koomey, Jonathan G., H. Scott Matthews, and Eric Williams. 2013. "Smart Everything: Will Intelligent Systems Reduce Resource Use?" The Annual Review of Environment and Resources. vol. 38, October. pp. 311-343. [http://arjournals.annualreviews.org/eprint/wjniAGGzj2i9X7i3kqWx/full/10.1146/annurev-environ-021512-110549]

Koomey, Jonathan. 2014. "Separating Fact from Fiction: A Challenge For The Media." In IEEE Consumer Electronics Magazine. January. pp. 9-11. [http://ieeexplore.ieee.org/xpl/articleDetails.jsp?arnumber=6685864]

Koomey, Jonathan, and Samuel Naffziger. 2016. "Energy efficiency of computing: What's next?" In Electronic Design. November 28. [http://electronicdesign.com/microprocessors/energy-efficiency-computing-what-s-next]

Masanet, Eric R., Richard E. Brown, Arman Shehabi, Jonathan G. Koomey, and Bruce Nordman. 2011. "Estimating the Energy Use and Efficiency Potential of U.S. Data Centers." Proceedings of the IEEE. vol. 99, no. 8. August. [https://eta.lbl.gov/sites/all/files/publications/lbnl_version_procieee_embargoed-1-1.pdf]

Masanet, Eric, Arman Shehabi, and Jonathan Koomey. 2013. "Characteristics of Low-Carbon Data Centers." Nature Climate Change. vol. 3, no. 7. July. pp. 627-630. [http://dx.doi.org/10.1038/nclimate1786]

Mora, Camilo, Randi Rollins, Katie Taladay, Michael B. Kantar, Mason K. Chock, Mio Shimada, and Erik C. Franklin. 2018. "Bitcoin emissions alone could push global warming above 2°C." Nature Climate Change. October 29. [https://doi.org/10.1038/s41558-018-0321-8]

Nordhaus, William D. 2007. "Two Centuries of Productivity Growth in Computing." The Journal of Economic History. vol. 67, no. 1. March. pp. 128-159. [http://www.econ.yale.edu/~nordhaus/homepage/homepage/nordhaus_computers_jeh_2007.pdf]

O’Dwyer, Karl J., and David Malone. 2014. Bitcoin Mining and its Energy Footprint. Proceedings of the ISSC 2014/CIICT 2014 Conference. Limerick, Ireland: June 26-27. [http://eprints.maynoothuniversity.ie/6009/1/DM-Bitcoin.pdf]

Shehabi, Arman, Sarah Josephine Smith, Dale A. Sartor, Richard E. Brown, Magnus Herrlin, Jonathan G. Koomey, Eric R. Masanet, Nathaniel Horner, Inês Lima Azevedo, and William Lintner. 2016. United States Data Center Energy Usage Report. Berkeley, CA: Lawrence Berkeley National Laboratory. LBNL-1005775. June. [https://eta.lbl.gov/publications/united-states-data-center-energy]

US EPA. 2007. Report to Congress on Server and Data Center Energy Efficiency, Public Law 109-431. Prepared for the U.S. Environmental Protection Agency, ENERGY STAR Program, by Lawrence Berkeley National Laboratory. LBNL-363E. August 2. [http://www.energystar.gov/datacenters]

Vranken, Harald. 2017. "Sustainability of bitcoin and blockchains." Current Opinion in Environmental Sustainability. vol. 28, no. Supplement C. 2017/10/01/. pp. 1-9. [http://www.sciencedirect.com/science/article/pii/S1877343517300015]

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polixy · 6 years ago

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5 key takeaways about the state of the news media in 2018

5 key takeaways about the state of the news media in 2018;

Every year since 2004, Pew Research Center has issued an assessment of the state of the news media, tracking key audience and economic indicators for a variety of sectors within the U.S. journalism industry. Here are some key findings about the state of the industry in 2018:

U.S. newspaper circulation reached its lowest level since 1940, the first year with available data. Total daily newspaper circulation (print and digital combined) was an estimated 28.6 million for weekday and 30.8 million for Sunday in 2018. Those numbers were down 8% and 9%, respectively, from the previous year, according to the Center’s analysis of Alliance for Audited Media data. Both figures are now below their lowest recorded levels, though weekday circulation first passed this threshold in 2013.

Digital circulation for daily newspapers is harder to track. It did rise in 2018, though not enough to fully reverse the overall decline in circulation.

Revenue from circulation was steady in 2018, but ad revenue for newspapers fell 13%, according to an analysis of Securities and Exchange Commission filings. Though some national publications have seen growth in revenue and in digital subscriptions over the past few years, the newspaper sector overall continues to face challenges.

Cable news was a bright spot in another down year for the U.S. news media industry’s economic fortunes. Revenue rose 4% over the past year for Fox News, CNN and MSNBC combined, according to estimates from Kagan, a media research group. That made cable news one of the only sectors with a revenue increase in 2018.

Cable news revenue has grown by roughly a third (36%) since 2015, with ad revenue up 58% over the same period. And unlike some other sectors that typically see revenue declines in non-election years, cable news has been on a steady rise since the 2016 election. Some of this revenue has flowed back into newsroom spending, which has risen 22% since 2015. However, employment in cable TV newsrooms has not risen, according to Bureau of Labor Statistics data, and neither have wages.

3Digital ad revenue has grown exponentially, but a majority goes to Facebook and Google rather than to publishers. Revenue from ads placed on digital platforms – counting all platforms, not just news sites – rose by 23% in 2018, and now makes up nearly half (49%) of all ad revenue in the U.S., according to eMarketer estimates. And when it comes to display ad revenue – a form of digital advertising that include banners, videos and other advertisements that news organizations and other websites typically run alongside their content – half of all digital revenue went to just two tech companies: Facebook (40%) and Google (12%). Overall digital ad revenue has tripled since 2011, the earliest year tracked, while digital display revenue has grown by almost five times over the same period.

This growth in digital ad revenue has not been enough to make up for the decline in traditional ad revenue for some sectors. About a third of newspaper ad revenue (35%) now comes from digital, according to an analysis of SEC filings, but total ad revenue continues to fall. And while the digital-native news sector is on the rise – its newsroom workforce has nearly doubled over the past 10 years, according to BLS data – this growth hasn’t replaced the loss of employment at newspapers.

The audience for local TV news has steadily declined. The average audience fell in key time slots in 2018, down 10% for morning news and 14% for late night and evening news, according to Comscore StationView Essentials® data. (This data is based on live viewing on TV sets and does not account for these stations’ websites or social media presences – though some research indicates that most local TV news consumers prefer the TV set to online forms.) This has been a longstanding trend, with declines in 2017 and, using a different data source, from 2007 to 2016.

Over-the-air ad revenue for local TV did rise 12% in 2018, to $19.3 billion, according to a Pew Research Center analysis of MEDIA Access Pro & BIA Advisory Services data, but this is typical for a midterm election year and roughly equal to the amount in 2014.

Local TV’s audience decline was the steepest drop of any sector. Only cable news saw its audience rise in 2018.

5Traffic to news websites seems to have leveled off. Unique visitors to the websites of both newspapers and digital-native news sites showed no growth between the fourth quarters of 2017 and 2018, the second year in which there was no notable growth, according to Comscore, a cross-platform audience measurement company. From 2014 to 2016, traffic rose steadily for both these sectors in the fourth quarter.

Time spent on these websites has declined as well: The average number of minutes per visit for digital-native news sites is down 16% since 2016, falling from nearly two and a half minutes to about two per visit. The decreases in website audience and time spent per visit come as Americans increasingly say they prefer social media as a pathway to news.

To learn more: Explore all eight fact sheets on the state of the news media and the methodologies used to compile them.

; Blog – Pew Research Center; https://www.pewresearch.org/fact-tank/2019/07/23/key-takeaways-state-of-the-news-media-2018/; ; July 23, 2019 at 02:03PM

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cathrynstreich · 5 years ago

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The Rise of Automated Property Valuations

[Note from the editor: Below is a sample special business intelligence report, originally published for members of the GEM. Another example of our work is the property management software category product review series for small landlords. — Drew Meyers]

The Rise of Automated Property Valuations

BY ADAM NAAMANI Originally Published: March 24th, 2020

When Opendoor launched in 2014, it brought about a pivotal question: Can you value a house solely on data? My optimism led me to believe it was an inevitability, given the data infrastructure and technology to support the assumption. Even within a relatively short time-frame, the wave of digital innovation has grown exponentially. The International Data Corporation (IDC) predicts that the global Datasphere will swell to 175 Zettabytes by 2025 (1 ZB = 1 trillion GB for perspective), and global spending on AI and cognitive technologies to exceed $50 billion by 2021. It’s imperative we discover new ways to consolidate disparate processes into single platforms.

As the iBuyer business model reinvents how property is transacted online, it brings to light the many iterations of use cases in predicting home prices — traditional collateral estimation within the lending industry, lead generation for real estate professionals, instant estimates on public-facing portals (Zestimate®), and most recently, informing property transactions at scale to bring certainty and liquidity to an increasingly on-demand economy (Opendoor, Offerpad, RedfinNow, Zillow Offers™).

What then is the distinction between an automated valuation model (AVM), broker price opinion (BPO), and an appraisal? How has one evolved, while others appear stagnant? At what point does an AVM substitute or outperform the accuracy of an appraisal to become a proven single source of truth? How do consumers cut through the noise of various ‘proprietary algorithms’ to not be misled with misinformation?

In answering these questions, it would be useful to look at a brief history as well as the current state of the underlying methods in objectively determining market value. In doing so, we can gain a better understanding of how technology can augment or even replicate human cognition, and bring efficiency to an ageing profession.

An Industry in a State of Flux

The two most recognized professional organizations of real estate appraisers are The Appraisal Institute (17,000+ members) and The Appraisal Institute of Canada (5,400+ members). Appraisers in both the U.S. and Canada follow generally accepted appraisal standards as evidenced by the Uniform Standards of Professional Appraisal Practice (USPAP or CUSPAP). Educational requirements in some instances include possession of a degree, rigorous curriculum, and mentored experience en route to being designated.

According to the Appraisal Institute, the number of active members has been declining 3% per year, with more on the horizon retiring en masse (average age is around 50). With a litany of pain points, the industry at large is ripe for disruption — faced with fragmented, outdated, and unnecessarily burdensome regulations.

Antiquated Systems

Federal regulation led to the proliferation of Appraisal Management Companies (AMCs) — a firewall between the lenders and appraisers. Following a bidding process, files are triaged by a team of administrators — a strenuous function that is becoming modernized by companies like Anow and Reggora.

Appraisers may operate independently, and along with private lenders, don’t necessarily need to engage in business with an AMC. The variety of parties involved led to a market that has reached a level of oversaturation, resulting in varying inconsistencies.

Through a myriad of intermediaries, complicated workflows, lack of standards across web portals, and software that isn’t platform-agnostic, appraisers are at the behest of organizations that suffer from layers of excessively complicated administrative procedures.

Signal for Change

There had been debate in the U.S. over the threshold in which mortgages should require a formal appraisal, with a majority already exempt by virtue of being below $250,000 ( a limit increased from $100,000 in 1994). Effective October 2019, the OCC, Board, and FDIC adopted a final rule for the federal de minimis on residential real estate transactions to be raised from $250,000 to $400,000.

“The final rule defines a residential real estate transaction as a real estate-related financial transaction that is secured by a single 1-to-4 family residential property. For residential real estate transactions exempted from the appraisal requirement as a result of the revised threshold, regulated institutions must obtain an evaluation of the real property collateral that is consistent with safe and sound banking practices.”

Since 2017, Fannie Mae and Freddie Mac have been providing mortgage products with low loan-to-value ratios unbound by traditional reporting requirements, placing greater reliance on their in-house proprietary analytics. According to their policies, they even allow unlicensed or uncertified appraisers or appraiser trainees to complete a property inspection. It’s their prerogative to identify eligible properties and offer waivers at the application stage.

Consequently, brand whitespace has encouraged new incumbents to develop alternative forms of estimating market value through evaluations, bifurcated and hybrid appraisals — products designed to significantly reduce friction, turn around times, and cost for lending institutions as these elements become untenable.

Factors of Value

You Don’t Know What You Don’t Know

Beyond one’s own property, there’s always curiosity surrounding what other homes are worth so that more informed decisions could be made. The challenge then is in justifying property values, which are inherently controversial as there is an emotional aspect stemming from bias or lack of insight. It’s common to see lenders and homeowners push back with their own unsubstantiated opinions of value — for example, comparing property types such as a half-duplex in a quiet suburban neighbourhood to a condominium in the Downtown core, or concrete to wood-frame house. There’s an even greater chance of misinterpretation when valuations are displayed on public-facing websites devoid of any reconciliation, as it’s not a matter of what but why.

External obsolescence (privacy, street noise, crime), topology, flood plains, conformity to neighbouring properties (progression, regression), proximity to schools and amenities, title to land, orientation (exposure), lot dimensions, floor level, view obstructions, physical depreciation, functional obsolescence, government policies, and demographics — representing only a fraction of thorough preliminary research required for a holistic analysis.

Comparables

Sales comparison is easier with properties that are homogenous. A cookie-cutter new construction condominium or rectangular Vancouver Special will often have a wealth of nearly identical sales to compare it to, while a custom-built house in an affluent community might not. If a home falls within typical parameters, the margin of error will generally be lower.

Three or more recent sales of similar properties are collected within 60 to 90 days of exposure in an open market. An appraiser will first attempt to find 1-2 sales in the subject building (if it’s a condo) in accordance with standard lender requirements, moving out to the same street, then to the neighbourhood — expanding the geographical area as necessary.

Conditions of sale, stigmatization, and special assessments are also of concern in the process of elimination to gather arm’s length transactions. After qualitative and quantitative adjustments are made for differences between the subject and comparables, a final estimate of value is weighted towards sales with the least adjustments.

Back to the question at hand…

Is it possible, given the technology at our disposal, to replicate this cognitive process with Neural Networks and derive a property’s fair market value commensurate with its human equivalent?

Data Liberation

With the abundance of property data comes the issue of fragmentation, yet despite its slow adoption curve, is destined for decentralization. Reducing redundancy is akin to the programming principle of DRY (Don’t Repeat Yourself):

“Every piece of knowledge must have a single, unambiguous, authoritative representation within a system.”

– The Pragmatic Programmer

In many an industry, manual filtering, copying and pasting, calculating, and form filling is becoming archaic as more data is made available in a machine-readable format. Performing repetitive, tedious tasks leads to decision fatigue — a most rudimentary use case for offloading to automation. It is not to say the efforts required by human intervention should be undermined, yet its effectiveness is eroded by a high cognitive load and prone to error. Machine Learning correlates large datasets around the clock better than any person ever could, factoring in new data points the moment they are made available with a high degree of granularity.

Open Standards and the API Economy

Open Data portals and RESTful APIs provide necessary access to key datasets like property parcels, tax records, streets, transportation, city services, schools, crime, etc. to facilitate comprehensive research into understanding utility. The City of Vancouver exemplifies how Open Data APIs have evolved, offering a variety of export types according to the JSON Schema vocabulary standard.

As innovation in the vertical flourishes, so too do the need for integration and standardization. Cleaning and labeling big data is no small feat — it’s laborious, expensive, and prohibitively complex. The Real Estate Standards Organization (RESO) created open standards through a Data Dictionary as the industry’s universal language to make access to MLS data easier and more streamlined.

Zillow’s BridgeAPI™ — a combination of their acquisition of Vancouver based Retsly and Bridge Interactive — is platinum-certified by RESO and provides one of the more modern single point of entry solutions. Its API streamlines the transport process for public and transactional records on 148 million properties throughout the U.S.

Turning Point in Canada

Historical property data had been infamously difficult to acquire, compile, and normalize — hidden behind walled gardens of old. Sold prices and cumulative days on market have for too long been a blind spot to consumers in Canada doing their own due diligence.

Between Canada and the U.S., there had been differing levels of access to property data, until the Competition Bureau was successful in their anti-competition case against TREB; a costly 7-year legal battle to end data restrictions.

“It’s time to move forward, embrace policies that align with the law, and open the door to innovation in real estate services.”

– Matthew Boswell, Interim Commissioner of Competition

Ubiquity of Technology

Machine Learning as a Service (MLaaS) platforms from Amazon Web Services and Google Cloud have levelled the playing field, with a pay for what you use business model and entry-level tiers to build and scale any project at a fraction of what it used to cost.

Training ML models has never been more approachable — made simple and accessible by open source libraries like NumPy, SciPy, scikit-learn, and pandas — with d3js and Jupyter notebooks for data-driven visualization. SageMaker, AutoGluon, and Tensorflow are toolkits that provide deep learning solutions with only a few lines of code. The development of Neural Networks opens up many use cases applicable to real estate:

Image classification (qualitative analysis)

Object detection (degree of affixation)

Tabular prediction (comparative analysis)

Regression models (predictive analytics)

The Future of Housing

Beyond advancements in property technology software, is the emergence of Smart Real Estate — technology-based platforms that facilitate the operation of real estate assets. Buildings are being fitted with Internet of Things (IoT) sensors able to monitor interior activity, energy efficiency, or eventually much like smart cars, indication for when renovations are required (settling, moisture, building code).

Building Information Modeling (BIM) — digital representation of physical and functional characteristics — is considered one of the top 3 technologies likely to cause maximum disruption according to a 2019 Altus survey with real estate development firms. It’s well-suited towards property valuation, such that creating a ‘digital twin’ could provide real-time access to the most recent version of a survey or floorplan for pre-construction analysis. In combination with LiDAR for 3D models, or drones for geospatial imagery, the integration of technology into the physical world opens up possibilities previously unthinkable.

Power to the People

While not an exhaustive list, the following companies are the most interesting to watch develop. They have the capital, network effects, and greatest potential to revolutionize AVMs:

Zillow’s Zestimate®

At a 4.5% median error rate, half of all Zestimates are within 4.5% of the selling price. To further their efforts, Zillow held a $1 million global data science competition to improve the home valuation, won by a team that hadn’t even met each other in person — a common occurrence in today’s distributed workforce environment facilitated by tools like Github and Slack.

The winning team developed a system that mimicked the neural circuitry of the brain, leading to the building of accurate predictive models to improve the algorithm that changed the world of real estate.

Opendoor

Every 60 seconds, a homeowner requests an offer from Opendoor. That scale is inconceivable without data science and automation. To improve the accuracy of their valuations, Opendoor uses an ensembling approach — building multiple models and computing a weighted average of their estimates. Through hybrid pricing, they use both automated and human-led valuations to scale rapidly while maintaining accuracy.

HouseCanary’s AgileEvaluation™

With four decades of transaction data on 106.5 million homes throughout the U.S., HouseCanary is pioneering modern end-to-end valuations for investors and real estate professionals alike. Their predictive analytics have a Median Absolute Prediction Error (MdAPE) at 2.8% as of July 2019 on 1,994,203 transactions.

Predicting an Uncertain Future

In an on-demand society, customers are trained to expect speed and efficiency. For a capital intensive industry like real estate, cost and scale are among the biggest barriers in achieving widespread adoption of novel technology. As for the appraisal profession, it’s not a matter of advocating that it become obsolete, but how technology can best be incorporated into the trade at a faster rate. Automated valuations bring the promise of reducing friction from the complexity of property transactions — enabling smarter, faster decision-making with unprecedented levels of access to information. Data transparency is becoming the new norm, and as technology rapidly evolves, businesses must adapt to maintain a competitive edge.

Even since I began writing this article, a certain pandemic occurred. The world changed in an instant. What will happen to professions that require entry into a property? Perhaps the sentiment towards privacy will change, as the data collected digitally is considered less of an infringement than a host of people coming through your home. It has never been more critical to accept innovation as the only way forward — case in point as Fannie and Freddie have already begun to adopt alternative appraisals due to the coronavirus. Nearly every stage of a real estate transaction can now happen virtually. That’s profound to even think about when it comes to the world’s largest asset class. The emotion we have tied to our homes carries a value greater than any number could possibly represent, making it infinitely difficult for intelligence in any form to predict with absolute certainty what tomorrow will bring.

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clarencevancleave · 5 years ago

Text

The Rise of Automated Property Valuations

BY ADAM NAAMANI Originally Published: March 24th, 2020

An Industry in a State of Flux

Antiquated Systems

Signal for Change

Factors of Value

You Don’t Know What You Don’t Know

Comparables

Back to the question at hand…

Is it possible, given the technology at our disposal, to replicate this cognitive process with Neural Networks and derive a property’s fair market value commensurate with its human equivalent?

Data Liberation

“Every piece of knowledge must have a single, unambiguous, authoritative representation within a system.”

– The Pragmatic Programmer

Open Standards and the API Economy

Turning Point in Canada

“It’s time to move forward, embrace policies that align with the law, and open the door to innovation in real estate services.”

– Matthew Boswell, Interim Commissioner of Competition

Ubiquity of Technology

Image classification (qualitative analysis)

Object detection (degree of affixation)

Tabular prediction (comparative analysis)

Regression models (predictive analytics)

The Future of Housing

Power to the People

While not an exhaustive list, the following companies are the most interesting to watch develop. They have the capital, network effects, and greatest potential to revolutionize AVMs:

Zillow’s Zestimate®

Opendoor

HouseCanary’s AgileEvaluation™

Predicting an Uncertain Future

GEEK ESTATE MASTERMIND BRIEFING

A PRIVATE GROUP OF INDEPENDENT THINKERS, FREE FROM SPONSORED MESSAGES, SALES PITCHES AND NOISE

There are four parts to membership:

Long-form articles covering the spectrum from shipping container co-living spaces to the battle for listing acquisition in the first iBuyer world war (Weekly Transmission).

Curated real estate, startups, & built world links & analysis blended with out of the box ideas (Weekly Radar).

Special reports (our first is a category review of Small Landlord Prop Mgmt Software).

Networking opportunities with 235+ innovators from across the globe through the private forum & in-person gatherings.

Membership is $109 / quarter

OUR MEMBER PROMISE

We help you make better, more well-informed decisions to help grow and support people and companies making a difference in real estate.

We enable discovery and meeting others with shared interests online and in-person (whether they live near you or are traveling to the same conference).

With a mission to attract the 1,500 most forward-thinking, and diverse, innovators, we’re looking for the best and brightest in all the land...

READY TO JOIN RIGHT NOW?

Apply for Membership

NOT QUITE READY?

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patrickjones-blog · 6 years ago

Link

In the pre-digital era, a photographer was largely limited by the number of frames on a roll of film — 36 in most cases. Those who took a lot of pictures were good at judging how a given photo would turn out before clicking the button. Often, they would take 3-4 shots of the same subject at varying shutter speeds in the hope that one of those attempts would yield a winner. More serious photographers were usually armed with multiple rolls of film. It was not uncommon to see professional photographers with bandolier holders for their film rolls while on long trips or remote location runs. Fast forward to today and the scene looks a bit different

This kind of measured approach is no longer the norm in photography. A few die-hard film enthusiasts and purists are still attached to the film format, but the average person has moved entirely to digital. In fact, there’s a whole generation now that has never seen or used a film camera. And that has created a different kind of problem for us now. With digital cameras, people can take photos – lots and lots of them. In 2013, 660 billion digital images were produced worldwide, according to some estimates. This figure had grown to 1.2 trillion by 2017. Phones, tablets, digital cameras, laptops and more are used daily to produce more images and contribute to this exponential growth of digital photos. The aggregate number of digital photos stored across various media is now estimated to be over 4.7 trillion. Given this frenzied pace of photo taking, it doesn’t take long for the average person to max out their personal computer disk space, making digital photo storage a hugely in-demand commodity. Digital photo clutter is emerging as one of the biggest technological problems of our times. In our individual lives, it’s hard to recognize the scale of the problem unless we step back and look at where and how our photos are stored. If they are distributed across devices and disk drives in a jumbled assortment of single image files and haphazardly named folders, then we know that we have created a monster that will keep growing unless we do something about it.

Begin by purging

Fortunately, there’s a way to rein in the beast and get your photos into an accessible and organized library of memories. Most experts agree that the very first step in the process is to apply some quality filters and start purging our collection of photos that are not worth saving. This is sometimes difficult since we start attaching emotional importance to photos when they are from the past, however recent or distant this past may be. Still it’s an important part of this whole process and something that cannot be outsourced. Assessing the keepsake value of a photo is a task that we ourselves are best equipped to do.

However, culling based on quality is pretty simple when it comes to photos. Start with anything out of focus or blurry. If you have multiple shots, get rid of the ones that don’t have a clear image and presentation. Just by doing this alone, you will reduce some of the clutter without a lot of effort. And since you most likely have multiple copies of most images, you’re not really in danger of erasing any important memories.

Now it’s time to sort them

Once you have the less-than-stellar images out of the way, you can focus your energies on the ones that remain. You have a couple of choices automatically available to you when it comes to sorting your images. The most obvious one involves the time date stamp on your photos.

If you are working on Windows, for example, you can create multiple folders for specific years and then house all of these in a master folder. You can then move your digital images into this larger folder and sort them based on the time date stamp on them. From here, it will be easy for you to move sets of photos into the appropriate year folder. The time date stamp is not always an accurate indicator of a photo’s vintage but it works in most cases.

There are, of course, other ways to sort your images – based on occasion, place, people and more – but chronology makes for a good starting point. And it’s easier then to find a specific photo that you want to incorporate in an album, a collage or any other keepsake. Make sure you back up this newly organized library to some form of external storage as well.

Develop habits to contain the clutter

On an ongoing basis, apply your quality filters to any new photos you take in order to keep your digital piles from getting out of hand again. This doesn’t mean that you need to stop yourself from taking photos; just that you need to develop a daily or weekly habit of going through and pruning the photo library on your camera device.

While you should continue to transfer your images to your computer and back them up regularly, an online photo management tool is another must-have for digital images. Google Photos works well for this purpose, providing secure cloud storage for your memories as well as options for cataloging and editing your images in new and interesting ways. You can upload photos from your phone to Google Photos after you’ve done a round of purging. Alternatively, the auto-upload feature works well if you feel that you may not remember to do this manually on a regular basis..

Clearly, thanks to the technology and tools now available to us, conquering digital clutter is not as daunting a task as we may initially think.

This brings us to one more aspect of our image archives that most of us are afraid to wade into. Our physical photo piles. Since print photos require hours of manual sorting and handling, we often box them up and put off doing anything with them. But the case for digitizing old photos is very strong. Once digitized, you can add them to the master library on your computer as well as to your online backup to more easily view, curate and share them. As photojournalist and memory evangelist Kevin Gilbert said in a 2014 TED talk: ‘A picture is worthless if you can’t find it.’ We need to make it easy to find photos that have meaning for us. This begins with taking control of our digital archives and eliminating clutter. But it also means rescuing memories from boxes in dark basements and placing them where we can easily retrieve them.

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sevmeyinkimseyifazla-blog · 7 years ago

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Is Essential SEO Copywriting So Important In order to Marketing and sales communications?

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she-willnotfall · 7 years ago

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Is Essential SEO Copywriting So Important In order to Marketing and sales communications?

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Search Blog9T engine optimization (SEO) refers to the procedure of improving the amount plus quality of traffic to a website from search engines via "natural", which may mean either natural or algorithmic, search results. However, because of the particular high marketing value of focused search engine results, there is definitely a potential for an fierce relationship between search engines plus SEOs. In 2005, an yearly conference of the AIRWeb, or even the Adversarial Information Retrieval upon the internet, was formed in order to confer and minimize the dangerous effects of aggressive web content material providers. This particular newsletter provides you with the particular latest Marketing Tips, Trends, plus Best Practices in digital marketing and advertising space. Known for their doable content, they cover a broad range of topics that consist of SEO, blogging, social media, leads generation, email marketing, lead management, analytics, and much more. Above most, you can't mention content advertising without mentioning HubSpot. These men literally wrote the book upon it. The easiest method to have the strong online presence would become to make sure that the particular content on your company's web site is search engine friendly. This particular is attained by 'localizing' your own content. This is the procedure of translating content, but having it one step further in order to ensure that it's readability is definitely perfect and checked against nearby Blog9T Youtube customs, cultural differences and choices. International SEO copywriting is just a procedure for providing local content that is original, not really translated. Be sure to discover content writer has in the particular local market and it will be, in fact, a native-speaker. This particular dramatically increases your chances associated with getting noticed by members associated with the local target market. Now that your site is usually well-constructed and keyword-rich, it demands to achieve the masses! That will means it's time for a person to consider off-site SEO: the variety of content development plus online marketing strategies that might amplify your search engine presence exponentially. Based to Gartner, "Virtual Assistants" have got transformational benefits. Global Intelligent Veterans administration (IVA) will grow at the CAGR of 39. 3% more than 2013-2018, and the total marketplace shall be projected to ascend to more than $2. one billion by 2019. Whenever you are under the assistance of experienced SEO professionals, a person will be familiar with actual need and importance of enhancing visibility of the website by means of seo techniques. You will obtain an opportunity to learn regarding latest trends and new methods that SEO professionals are implementing to rank a website higher in the search engines.

eCommerce website items and services are advertised upon social media and other internet sites on the internet platform, apart from the regular email and TEXT MESSAGE marketing channels. The offline marketing and advertising strategies persist, however, ecommerce product sales from social media alone possess grown by 202% in 2014 and have experienced incremental development since then. Further, though presently there are more mobile internet customers than desktop users, mobile marketing spend is lower at 49% than desktop advertising spend from 51% in overall digital marketing spend. The entire digital marketing spend is likely to grow simply by 72. 54 years old Screen Printer Jewell Spivery from Cold Lake, usually spends time with passions which include house brewing, top seo trends in 2018 and compose music. In the last couple of months has traveled to places like Sacred City of Caral-Supe. 2% by 2019, plus mobile advertising spend will become 60. 4% of all electronic advertising spend. Why is the Search Motors struggle to keep those outcomes pure is the fear that will a few other engine will do the better job and cut straight into their market share. SEO's are usually symbiotic with the Search Motors. Being a good SEO is definitely really being a specialized company marketing consultant. An SEO will take the info about your product or even service and can help a person get noticed by your potential customers on the Search motors like google. Making use of FREE or paid SEO plus e-Marketing tools and services is definitely a great way to produce more exposure, ultimately increasing visitors to your site. It's incredibly important to not only develop Blog9T a "kick-ass" website but to furthermore market and perform SEO upon the consistent basis. I suggest speaking to an expert e-Marketing and SEO Company to assist boost the awareness of your internet site online. We all have been here to supply you extensive practical live tasks during your convenient timings. Considering that more numbers of people are usually required to work on various on the web works like blogging, content advertising, search engine optimization (SEO), PAY PER CLICK Google AdWords, affiliate marketing, email marketing, social media marketing, movie marketing, online reputation management plus customer service, we do teach our students to work plus gain practical knowledge. Expands Your Marketing Impact. SEO allows firms to bring in opportunities outside of their physical footprint. There are a amount of services firms offer which usually can be performed in marketplaces across the country. The marketing and advertising dilemma is one of useful resource allocation. Can it make sense in order to invest marketing dollars in locations where the firm has small brand awareness? Of course not really. Nevertheless, SEO allows your company to market itself in other marketplaces without incurring any additional expenses. Would your firm be fascinated in serving clients in various other markets if the opportunity introduced itself? Through focused SEO your own firm will find these possibilities. One can notice that Search engines, given a query q, seems to rank a page increased if the host element associated with the page's URL contains key phrases from q. To utilize this particular internet search engine optimizers files pages with URLs containing well-known keywords and keyphrases and arranged up DNS servers to resolve these URLs to a individual IP. Generally SEOs generate the large number of host brands to rank for a broad selection of popular queries.

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itsmyrayeraye-blog · 7 years ago

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Choose WordPress As Your Prefered CMS To Avail SEO Advantages

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Search engine optimization (SEO) refers to the procedure of improving the amount plus quality of traffic to a website from search engines via "natural", which may mean either natural or algorithmic, search results. However, because of the particular high marketing value of focused search engine results, there is definitely a potential for an fierce relationship between search engines plus SEOs. In 2005, an yearly conference of the AIRWeb, or even the Adversarial Information Retrieval upon the internet, was formed in order to confer and minimize the dangerous effects of aggressive web articles providers. Once the keywords happen to be established for each page it can very important the translation should be carried out with SEARCH ENGINE OPTIMIZATION in mind. This means that will a certain keyword must show up in certain places on the particular web page without being stated too often that could effect in penalization by search motors (key word stuffing). Some recommend that the keyword should show up in the title, description, proceeding ones, body twice and the particular alt tags. This is within no way a protocol since one also has to create note of that search motors are constantly changing their methods and search criteria. The look of the keyword in specific areas can often lead in order to very cumbersome translations however making a seamless translation that states well with the keyword within position is a skill within itself and the reason the lot of translation services Blog9T Youtube businesses that handle SEO can pay for to charge that little little bit extra for SEO translation. As you go along with the various options discussed beneath, it is necessary for you to understand that SEO will appear in order to become a very nebulous strategy to Internet marketing. A short history of SEO is complicated and you're going to have got a lot of questions. Nevertheless, I've divided the SEO education options into 2 types: Static and Interactive. Now that your site is usually well-constructed and keyword-rich, it wants to achieve the masses! That will means it's time for a person to consider off-site SEO: the variety of content development plus online marketing strategies that might amplify your search engine presence exponentially. Relating to Gartner, "Virtual Assistants" possess transformational benefits. Global Intelligent Veterans administration (IVA) will grow at the CAGR of 39. 3% more than 2013-2018, and the total marketplace shall be projected to rise to more than $2. one billion by 2019. In situation you market correctly customers will certainly come. 36 year old Technical Cable Jointer Murry from Leduc, really likes beachcombing, top seo trends in 2018 and operating in a food pantry. Gains inspiration through travel and just spent 9 months at Archaeological Sites of the Island of Meroe. Or else advertising on-line you will be downsized within this decade. International business will be exploding, people are searching, plus if you are within the moon with your website, you will certainly miss thousands of sales. In case you need someone to the particular actual work for you in order to find those customers, the using is an excellent company that will we recommend gravitateonline. Otherwise discover a good SEO company that will has a solid track report and has built a strong foundation that you can rely on.

eCommerce website items and services are advertised upon social media and other web sites on the internet platform, apart from the regular email and TEXT MESSAGE marketing channels. The offline advertising strategies persist, however, ecommerce product sales from social media alone possess grown by 202% in 2014 and have experienced incremental development since then. Further, though right now there are more mobile internet customers than desktop users, mobile marketing spend is lower at 49% than desktop advertising spend with 51% in overall digital marketing spend. The entire digital marketing spend is anticipated to grow simply by 72. 2% by 2019, plus mobile advertising spend will end up being 60. 4% of all electronic advertising spend. Why is Blog9t the Search Motors struggle to keep those outcomes pure is the fear that will various other engine will do the better job and cut straight into their market share. SEO's are usually symbiotic with the Search Motors. Being a good SEO is definitely really being a specialized company marketing consultant. An SEO requires the data about your product or even service and can help a person get noticed by your potential customers on the Search motors like google. The bilingual or perhaps a multilingual virtual associate can assist you with not only translating your website but furthermore with optimizing it so that will search engines will rank this higher. You can find the particular right person to perform SEARCH ENGINE OPTIMIZATION for the targeted languages in case you look for multilingual digital assistants. A native speaker can Blog9T better know which keywords are usually relevant in their country, therefore the translation could be a lot more accurate and culturally adjusted in the direction of the audience it is designed for. Sites for example Google or even Bing will favor your web site if you have performed Global SEO with your assistant assist. Questions that occur include whether all gaming businesses will be able to use for a license on the particular same terms and how video gaming customers will respond to the particular regulation. An important issue for that players in the industry will be that a decision within the intro of the new rules nicely in advance of January one, 2019 to ensure that businesses have time to apply with regard to a license in time. Expands Your Marketing Impact. SEO allows firms to bring in opportunities outside of their physical footprint. There are a quantity of services firms offer which usually can be performed in marketplaces across the country. The marketing and advertising dilemma is one of source allocation. Would it make sense in order to invest marketing dollars in places where the firm has small brand awareness? Of course not really. Nevertheless, SEO allows your company to advertise itself in other marketplaces without incurring any additional expenses. Would your firm be fascinated in serving clients in various other markets if the opportunity shown itself? Through focused SEO your own firm will find these possibilities. Once you've decided upon a video marketing medium, the particular next step is effective submission. This is the seo component of video marketing. In purchase to be effective, video submission needs to adhere to recognized SEO practices. There are a number of ways in which towards your own video to the top ranks, like including keywords in the particular video title as well because in the summary and label fields. You can also write-up close captioning scripts, which not really only help visually-impaired consumers, yet helps a video be quickly indexed by search engines. Moreover it is in your greatest interest to include a contact to action toward the finish of your video, stimulating users to share with their own friends across various social mass media sites. This can almost definitely extend the reach of the particular videos and boost views along with the number of backlinks that are usually created.

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kivircikedebiyatii · 7 years ago

Text

Choose WordPress As Your Prefered CMS To Avail SEO Advantages

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Search engine optimization (SEO) refers to the procedure of improving the amount plus quality of traffic to an internet site from search engines via "natural", which may mean either natural or algorithmic, search results. However, because of the particular high marketing value of focused search engine results, there is usually a potential for an fierce relationship between search engines plus SEOs. In 2005, an yearly conference of the AIRWeb, or even the Adversarial Information Retrieval upon the internet, was formed in order to confer and minimize the dangerous effects of aggressive web content material providers. Once the keywords happen to be established for each page is actually very important the translation should be carried out with SEARCH ENGINE OPTIMIZATION in mind. This means that will a certain keyword must show up in certain places on the particular web page without being stated too often that could effect in penalization by search motors (key word stuffing). Some recommend that the keyword should show up in the title, description, proceeding ones, body twice and the particular alt tags. This is within no way a protocol since one also has to create note of that search motors are constantly changing their methods and search criteria. 35 year-old Insurance Danger Surveyor Sia from Chatsworth, has hobbies and interests including hunting, top seo trends in 2018 and cloud watching. Will shortly undertake a contiki trip which will cover visiting the Shark Bay. The look of the keyword in particular areas can often lead in order to very cumbersome translations however generating a seamless translation that scans well with the keyword within position is a skill within itself and the reason the lot of translation services businesses that handle SEO can pay for to charge that little little bit extra for SEO translation. As you go along with the various options discussed beneath, you should try for you to recognize that SEO will appear in order to become a very nebulous method to Internet marketing. A short history of SEO is complicated and you're going to have got a lot of questions. Nevertheless, I've divided the SEO teaching options into 2 types: Static and Interactive. Now that your site will be well-constructed and keyword-rich, it wants to achieve the masses! That will means it's time for a person to consider off-site SEO: the variety of content development plus online marketing strategies that might amplify your search engine presence exponentially. Relating to Gartner, "Virtual Assistants" possess transformational benefits. Global Intelligent Virtual assistant (IVA) will grow at the CAGR of 39. 3% more than 2013-2018, and the total marketplace shall be projected to climb up to more than $2. one billion by 2019. Increase your presence in Social Media like Fb, Twitter, Linkedin and other internet sites. You know how people are usually connected to their social system. So it not at just about all a bad idea to utilize a Social Media expert within the market to market your item over social networks. You can even try out Social Media Marketing Services within Fiverr and SeoClerks for Public Media Marketing. eCommerce website items and services are advertised upon social media and other web sites on the internet platform, apart from the regular email and TEXT MESSAGE marketing channels. The offline advertising strategies persist, however, ecommerce product sales from social media alone have got grown by 202% in 2014 and have experienced incremental development since then. Further, though right now there are more mobile internet customers than desktop users, mobile marketing spend is lower at 49% than desktop advertising spend with 51% in overall digital marketing spend. The entire digital marketing spend is anticipated to grow simply by 72. 2% by 2019, plus mobile advertising spend will become 60. 4% of all electronic advertising spend. Why is the Search Motors struggle to keep those outcomes pure is the fear that will various other engine will do the better job and cut in to their market share. SEO's are usually symbiotic with the Search Motors. Being a good SEO will be Blog9T really being a specialized company marketing consultant. An SEO requires the data about your product or even service and can help a person get noticed by your potential customers on the Search motors like google. The bilingual or even a multilingual virtual associate can assist you with not simply translating your website but furthermore with optimizing it so that will search engines will rank this higher. You can find the particular right person to perform SEARCH ENGINE OPTIMIZATION for the targeted languages in the event that you look for multilingual digital assistants. A native speaker will certainly Blog9T better know which keywords are usually relevant in their country, therefore the translation could be a lot more accurate and culturally adjusted toward the audience it is designed for. Sites for example Google or even Bing will favor your site if you have performed Global SEO with your assistant assist. Electronic marketing extends beyond internet marketing and advertising to include channels that perform not require the use associated with the internet. Some digital marketing and advertising channels include websites, social media marketing systems, email marketing, search engine marketing (SEO), blogging, podcasts, and Blog9T Youtube on the web advertising to name several. Past technology gimmicks, businesses ought in order to know their customers and their particular core competencies. Digital marketing is usually not a silver bullet. Electronic marketing is really a device for the savvy business expert. This write-up uses work with a customer. After extensive customer research we all wrote a report about exactly why customers weren't returning. Without heading into too much detail, the particular customers are not satisfied along with their service or organisation. The particular client said they couldn't pay for to fix that problem yet wish to spend some money upon a blog and SEO marketing campaign to potentially pull in a lot more customers. Strange. Surely the answer here would be use their particular budget to fix problems plus get repeat custom - perhaps the best custom you can find. One can notice that Search engines, given a query q, seems to rank a page increased if the host element associated with the page's URL contains key phrases from q. To utilize this particular internet search engine optimizers factors pages with URLs containing well-known keywords and keyphrases and arranged up DNS servers to resolve these URLs to a one IP. Generally SEOs generate the large number of host titles to rank for a broad selection of popular queries.

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gus-the-icreamman · 7 years ago

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Is Essential SEO Copywriting So Important In order to Marketing and sales communications?

youtube

eCommerce website items and services are advertised upon social media and other web sites on the internet platform, apart from the regular email and TEXT MESSAGE marketing channels. The offline advertising strategies persist, however, ecommerce product sales from social media alone have got grown by 202% in 2014 and have experienced incremental development since then. Further, though generally there are more mobile internet customers than desktop users, mobile marketing spend is lower at 49% than desktop advertising spend in 51% in overall digital marketing spend. The entire digital marketing spend is anticipated to grow simply by 72. 2% by 2019, plus mobile advertising spend will become 60. 4% of all electronic advertising spend. Why is the Search Motors struggle to keep those outcomes pure is the fear that will various other engine will do the better job and cut directly into their market share. SEO's are usually symbiotic with the Search Motors. Being a good SEO is usually really being a specialized company marketing consultant. An SEO will take the data about your product or even service and can help a person get noticed by your potential customers on the Search motors like google. The bilingual or even a multilingual virtual associate can assist you with not simply translating your website but furthermore with optimizing it so that will search engines will rank this higher. You can find the particular right person to perform SEARCH ENGINE OPTIMIZATION for the targeted languages in the event that you look for multilingual digital assistants. A native speaker can Blog9T better know which keywords are usually relevant in their country, therefore the translation could be a lot more accurate and culturally adjusted in the direction of the audience it is designed for. Sites for example Google or even Bing will favor your internet site if you have performed Global SEO with your assistant assist. We all have been here to offer you extensive practical live tasks during your convenient timings. Given that more numbers of people are usually required to work on various on the internet works like blogging, content advertising, search engine optimization (SEO), PAY PER CLICK Google AdWords, affiliate marketing, email marketing, social media marketing, video clip marketing, online reputation management plus customer service, we do teach our students to work plus gain practical knowledge. Expands Your Marketing Impact. SEO allows firms to bring in opportunities outside of their physical footprint. There are a quantity of services firms offer which usually can be performed in marketplaces across the country. The advertising dilemma is one of useful resource allocation. Will it make sense in order to invest marketing dollars in locations where the firm has small brand awareness? Of course not really. Nevertheless, SEO allows your company to market itself in other marketplaces without incurring any additional expenses. Would your firm be fascinated in serving clients in additional markets if the opportunity shown itself? Through focused SEO your own firm will find these possibilities. One can notice that Search engines, given a query q, is likely to rank a page increased if the host element associated with the page's URL contains key phrases from q. To utilize this particular internet search engine optimizers factors pages with URLs containing well-known keywords and keyphrases and fixed up DNS servers to resolve these URLs to a one IP. Generally SEOs generate the large number of host brands to rank for a broad selection of popular queries.

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claraoswald81 · 7 years ago

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Is Essential SEO Copywriting So Important In order to Marketing and sales communications?

youtube

Search engine optimization (SEO) refers to the procedure of improving the amount plus quality of traffic to an internet site from search engines via "natural", which may mean either natural or algorithmic, search results. However, because of the particular high marketing value of focused search engine results, there is definitely a potential for an fierce relationship between search engines plus SEOs. In 2005, an yearly conference of the AIRWeb, or even the Adversarial Information Retrieval upon the internet, was formed in order to confer and minimize the dangerous effects of aggressive web content material providers. This particular newsletter provides you with the particular latest Marketing Tips, Trends, plus Best Practices in digital advertising space. Known for their doable content, they cover a broad range of topics that consist of SEO, blogging, social media, leads, email marketing, lead management, analytics, and much more. Above almost all, you can't mention content advertising without mentioning HubSpot. These men literally wrote the book upon it. As you go along with the various options discussed beneath, it is necessary for you to understand that SEO will appear in order to become a very nebulous technique to Internet marketing. A short history of SEO is complicated and you're going to have got a lot of questions. Nevertheless, I've divided the SEO education options into 2 types: Static and Interactive. Now that your site is usually well-constructed and keyword-rich, it wants to achieve the masses! That will means it's time for a person to consider off-site SEO: the variety of content development plus online marketing strategies that might amplify your search engine presence exponentially. Based to Gartner, "Virtual Assistants" possess transformational benefits. Global Intelligent Veterans administration (IVA) will grow at the CAGR of 39. 3% more than 2013-2018, and the total marketplace shall be projected to ascend to more than $2. one billion by 2019. In situation you market correctly customers may come. Or else advertising on the web you will be downsized within this decade. International business is usually exploding, people are searching, plus if you are for the moon with your website, you can miss thousands of sales. In the event that you need someone to the particular actual work for you in order Blog9T Youtube to find those customers, the pursuing is an excellent company that will we recommend gravitateonline. Otherwise discover a good SEO company that will has a solid track report and has built a strong foundation that you can believe in. eCommerce website items and services are advertised upon social media and other internet sites on the internet platform, apart from the regular email and TEXT MESSAGE marketing channels. The offline advertising strategies persist, however, ecommerce product sales from social media alone possess grown by 202% in 2014 and have experienced incremental development since then. Further, though presently there are more mobile internet customers than desktop users, mobile marketing spend is lower at 49% than desktop advertising spend with 51% in overall digital marketing spend. The entire digital marketing spend is likely to grow simply by 72. 2% by 2019, plus mobile advertising spend will become 60. 4% of all electronic advertising spend. • Fresh, Frequent plus with Quality. Majority of the particular publishers make money fast> by keeping their entries seo-friendly. 21 yr old Information and Company Experts Rey Jaimes Blog9T from Trout Lake, enjoys to spend time papermaking, top seo trends in 2018 and films. Gets motivation through travel and just spent 6 weeks at Yin Xu. It's about SEO. The even more quality content you might have got, the frequent the bots might crawl your blog, the larger your visibility on Google or even Yahoo thereby the greater the opportunity to gain impressions. An perfect write-up would be composed associated with 400 to 500 words. Making use of FREE or paid SEO plus e-Marketing tools and services is definitely a great way to create more exposure, ultimately increasing visitors to your site. It's incredibly important to not only create Blog9T a "kick-ass" website but to furthermore market and perform SEO upon the consistent basis. I suggest speaking to an expert e-Marketing and SEO Company to assist boost the awareness of your site online. We all have been here to offer you extensive practical live tasks during your convenient timings. Considering that more numbers of people are usually necessary to work on various on the internet works like blogging, content marketing and advertising, search engine optimization (SEO), PAY PER CLICK Google AdWords, affiliate marketing, email marketing, social media marketing, video clip marketing, online reputation management plus customer service, we do teach our students to work plus gain practical knowledge. Liebe Grüßefüralle Android App Creator! Google has released important notices about app development policies. Plus all these statements should become made from the next yr onwards; So 2018 and 2019. Therefore, read the news, in order to stay abreast of the growth process. And yes, all these main changes are unlikely to improve the particular robustness of app security plus enhance the performance of cellular applications. Plagiarizing in school had been frown upon as well because for good reason. Passing a persons work off as you have is unethical and unoriginal. Individuals visit different blogs to collect varying perspectives not to go through the same identical content under the different name. In addition this particular will only hurt your SEARCH ENGINE OPTIMIZATION efforts by being penalized regarding duplicate content.

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futuristicallyshadycrusade-blog · 7 years ago

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Technology trends for a comprehensive data analysis

Gartner's top ten technology trends reflect a rapidly evolving world of technology, where increasing data volumes and greater analysis needs are playing an increasingly important role. Just think of the Internet of Things , which makes business analytics suitable not just for everyone but for everything.

This trend is likely to continue as the amount of data directly available to humans increases exponentially. That alone is an important message for the leaders of today. It should not be overlooked, however, that the amount of data to be handling calls for a culture of analysis. Only then are companies always one step ahead of the competition.

The following items are expected to be crucial this year:

1. Info apps and self-service: advanced, comprehensive analysis in the form of apps for general access to company data

2. The skilled labor shortage in the digital sector

3. Machine learning

4. Master Data Management (MDM)

Info apps and self-service

As data growth continues, business analytics becomes increasingly important to make smart decisions. Each employee of a company has the role of a decision-maker in one way or another. For this reason, employees should be able to access the data relevant to their job and analyze it for their decision-making so as to become more productive day by day.

According to the analyst firm, Gartner Business Intelligence ( BI ) is currently established in less than 30 percent of the surveyed companies. In addition, their use is often limited to professional analysts who use complex tools and spend most of their time analyzing data, as well as managers who read the reports and dashboards. Most other operational staff - as well as customers and partners - do not have direct access to information that enables more informed decisions.

The right tool for every employee

An important step towards achieving widespread commitment is the recognition that there is no universal solution in BI and analytics. It is very important that the right approach is chosen for different users. For example, analysts need to be provided with more complex and in-depth tools, while frontline staff should be given hands-on apps.

Gartner supports this assessment by saying that one of the keys to disseminating BI and analytics is a new way to deliver information - apps. The correct approach to this access to information is to make the analysis process invisible and integrate it into a user-friendly app.

This should follow the trend of "consumerization" and prepare information according to consumer behavior and user expectations. An app provides users with all the information they need to make informed decisions without the need for extensive analysis. At the same time they can flexibly decide on the use of the data and look at the required information in detail.

Each organization benefits from broad BI and analytics adoption as it translates to corporate culture change, where strategy and operations are fully aligned through a common system of fact-based decision making.

Skills shortage in the digital sector

Despite the benefits of BI and top big data analytics tools across the organization, analysts and data scientists continue to play a significant role. The demand in this area is correspondingly high. On the other hand, there is a Europe-wide shortage of skilled workers in the digital sector. According to a representative study by the high-tech association BITKOM , 41,000 IT specialists are missing in Germany in order to fully exploit the economic potential. Companies should therefore invest more in the promotion of young talent in order to prevail in the fight for the best brains.

This year, the role of the Chief Data Officer (CDO) will grow in importance as data is now recognized as the most important asset of a business today. Accordingly, the number of companies relying on data and needing the help of a CDO is growing. In particular, to find ways to make financial use of this data.

It can also be observed that the role of the Chief Analytics Officer (CAO) is becoming increasingly important due to the need for trend analysis. The challenge here is to find people who not only have the necessary technical skills, but also entrepreneurial acumen.

Machine learning

As with any labor shortage, the solution lies in technology; In this case, machine learning is the answer. In the presentation " Analytics Trends 2014 " Deloitte has already pointed to some interesting points. One example is that managers have so far taken away from machine learning in decision-making processes. This was justified by a flawed basis due to missing hypotheses and human explanations. Managers are using the voice of customer tools to understand the findings from machine learning and make decisions that can help businesses. However, data projects are now too dynamic for conventional hypothesis-based analysis. This explains why companies are increasingly adopting machine learning to handle the large volume of multidimensional data available.

Today, data can have many variables-age, education, income, frequency of purchase, and so on. Visualization without machine assistance is difficult because typically only three variables can be considered. Machines, on the other hand, can use mathematical methods to scour entire data mountains to discover patterns that analysts then use to explore trends. This can be translated into business strategies, such as identifying the right audience for specific marketing campaigns to maximize ROI on ad spending.

Master Data Management (MDM)

As analysts face a growing volume of data, the aspect of master data management will also become more important. Analysts must have the freedom to work with data at will. On the other hand, IT must be able to manage this data to ensure that different analysts draw the same conclusion from the information available. This process becomes more complex when multiple sources are merged and may not be adequately described in the metadata.

It has been pointed to data growth, but it's not just the sheer volume of data, it's also the number of data sources. Areas such as social media today provide businesses with a wealth of information analysts want to see in real-time. The key is data governance, which gives central control to IT while giving analysts the flexibility they need. It also covers the organization-wide extension of this function to a "self-service" model, where employees can access corporate data relevant to their role.

Another interesting aspect of this trend is the importance of integration and real-time data processing and analysis. Due to the particular emphasis on context-based systems, the depth and breadth of the context are highly dependent on data collection, data quality, and data integration from multiple systems. Any gaps in these processes can make the overall picture look incomplete or indistinct, so that the context benefits the decision-making process. These gaps can also be an obstacle to automating the decision support that intelligent machines rely on. As a result, the topic of big data again comes on the scene. Machine data and unstructured data, such as social data from customers, should be a high priority for companies - because they can contribute to growth and increase sales.

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terrormachine88-blog · 7 years ago

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Bitcoin network

The particular bitcoin multilevel is a peer-to-peer payment market that performs on a cryptographic protocol. End users send in addition to receive bitcoins, the sections of foreign money, by displaying digitally closed messages into the network employing bitcoin cryptocurrency wallet application. Transactions usually are recorded in to a distributed, duplicated public databases known as often the blockchain, together with consensus obtained by a proof-of-work system named mining. Typically the protocol has been designed in '08 and for sale since 2009 since open source software by means of Satoshi Nakamoto, the name as well as pseudonym in the original developer/developer group.

Often the network demands minimal design to share orders. An interimistisk decentralized community of volunteers is sufficient. Emails are shown on a finest effort time frame, and clients can get away from and rejoin the networking at will. About reconnection, a new node packages and qualifies new pads from other clients to complete it has the local replicate of the blockchain.[1][2] A bitcoin is characterized by a routine of electronically signed ventures that begun with the bitcoin's creation, as being a block encourage. The owner of your bitcoin transactions it by way of digitally completing it over to a higher owner having a bitcoin financial transaction, much like selling a traditional standard bank check. Any payee can easily examine each one previous exchange to always check the company of property. Unlike regular check honest reviews, bitcoin purchases are irreparable, which eradicates risk of charge-back fraud.[3]

Although it is quite possible to handle bitcoins individually, it may be unwieldy to help require a distinct transaction for any bitcoin inside a transaction. Orders are thus allowed to incorporate multiple terme conseillé and components,[4][better source needed] allowing for bitcoins for being split plus combined. Widespread transactions can have either a sole input originating from a larger preceding transaction or simply multiple plugs combining small amounts, and something or two signals: one for any payment, then one returning the exact change, in the event any, towards sender. Almost any difference between your total insight and production amounts of any transaction would travel to miners being a transaction service charge.[1] Mining or prospecting[edit]

GPU-based mining machine, 2012

Lancelot FPGA-based mining or prospecting board, 2013 To form some sort of distributed timestamp server for a peer-to-peer multilevel, bitcoin works on the proof-of-work process.[2] This do the job is often referred to as bitcoin gold mining. The unsecured personal is identified rather than furnished by knowledge.[5] The process is strength intensive.[6] Energy can take more than much of functioning costs regarding miners.[7] A knowledge center inside China, intended mostly intended for bitcoin mining or prospecting, is required to require around 135 megawatts of electric power.[8]

Requesting a proof work to give the personal unsecured for the blockchain was Satoshi Nakamoto's major innovation.[5] The exact mining practice involves determine a mass that, if hashed 2 times with SHA-256, yields many smaller than the particular given difficulties target. Whilst the average operate required boosts in inverse proportion for the difficulty goal, a hash can remain verified simply by executing there are round regarding double SHA-256.

For the bitcoin timestamp market, a valid evidence work is available by incrementing a non-ce until a worth is found giving the block's hash hidden number of foremost zero portions. Once the hashing has made a valid final result, the prohibit cannot be modified without replacing the work. Seeing that later chunks are chained after the item, the work to modify the obstruct would include things like redoing the effort for each after that block.

The vast majority consensus throughout bitcoin is definitely represented from the longest archipelago, which expected the greatest degree of effort to provide. If a tastes computing electricity is operated by genuine nodes, typically the honest string will raise fastest and also outpace almost any competing places to eat. To modify a new past wedge, an opponent would have to replace the proof-of-work of that mass and all obstructs after them and then get past the work on the honest clients. The chances of a weaker attacker finding and catching up decreases exponentially while subsequent hindrances are included.[2]

Gold mining difficulty has grown significantly To pay for boosting hardware acceleration and changing interest in managing nodes after a while, the difficulty of actually finding a valid hash is fine-tuned roughly just about every two weeks. When blocks will be generated straight away, the difficulty improves and more hashes are required to generate a block in order to generate completely new bitcoins.[2]

Difficulty[edit] Bitcoin gold mining is a reasonably competitive endeavor. The "arms race" has been witnessed through the a variety of hashing engineering that have been accustomed to mine bitcoins: basic Processors, high-end GPUs common in a great many gaming personal computers, FPGAs along with ASICs just about all have been made use of, each lessening the profitability with the less-specialized technological know-how. Bitcoin-specific ASICs are now obtainable.[9] As bitcoins become more hard mine, computer units manufacturing companies have noticed an increase in gross sales of top quality products.[10]

Computing strength is often bundled up together or perhaps "pooled" to cut back variance with miner salary. Individual mining or prospecting rigs will have to wait to get long periods to make sure that a prohibit of deals and obtain payment. In a very pool, most participating miners get paid each time a participating storage space solves your block. That payment is dependent upon the amount of perform an individual miner contributed to support find that obstruct.[11]

Bitcoin data locations prefer to retain a low report, are sent out around the world in addition to tend to area around the option of cheap energy.[7]

Strength consumption[edit]

A gold mining farm around Iceland Inside 2013, Symbol Gimein predicted electricity value to be concerning 40. in search of megawatts (982 megawatt-hours any day).[12] Throughout 2014, Hass McCook believed 80. several megawatts (80, 666 kW).[13] As of 2015, The Economist estimated while all miners used modern day facilities, often the combined power consumption could be 166. 8 megawatts (1. 46 terawatt-hours per year).[14] In March 2017 it turned out estimated the fact that total electrical power use of bitcoin mining ended up being over 634 megawatts (20 TWh/year).[15][better supply needed]

Surgeon Matt O'Brien opined the reason is not noticeable whether bitcoin is bringing down transaction prices, since the expenditures are become pollution fees, which he / she characterizes seeing that "environmental spillovers on the competition, or what exactly economists get in touch with negative externalities. "[16]

To lower the price, bitcoin miners have placed in places including Iceland just where geothermal vitality is low-priced and cooling down Arctic weather is no cost.[16] Chinese bitcoin miners are usually known to work with hydroelectric electrical power in Tibet to reduce electrical energy costs.[17]

Process[edit]

Avalon ASIC-based mining machine

ASICMINER ASIC-based OBTAINABLE mining system A bad overview of doing this to quarry bitcoins can be:[2]

Completely new transactions are generally broadcast for all nodes. Each and every miner computer collects innovative transactions in a block. Every single miner computer works on looking for a proof-of-work computer for its wedge. When a computer finds some sort of proof-of-work, that broadcasts the exact block to all or any nodes. Having nodes verify the orders it supports and agree to only if each is valid. Clients express all their acceptance by simply moving to the office on the future block, adding the hash of the recognized block. Extracted bitcoins[edit]

Diagram featuring how bitcoin transactions usually are verified By means of convention, the primary transaction in the block is actually a special business deal that delivers new bitcoins owned with the creator of your block. This can be a incentive pertaining to nodes to guide the community.[1] It provides the web move fresh bitcoins in circulation. The particular reward regarding mining halves every 210, 000 pads. It commenced at 40 bitcoin, fell to 20 in late this and to 14. 5 bitcoin in 2016.[18] This halving process will be programmed to stay for sixty-four times just before new or maybe creation prevents.[18]

Security and safety[edit] A variety of potential episodes on the bitcoin network and it is use as the payment system, authentic or hypothetical, have been viewed as. The bitcoin protocol comes with several attributes that shield it in opposition to some of those strikes, such as unsanctioned spending, increase spending, forging bitcoins, plus tampering with all the blockchain. Different attacks, including theft of personal keys, involve due health care by end users.[19][20][21][22][23][24][25]

Not authorized spending[edit] Unauthorized shelling out is mitigated by bitcoin's implementation involving public-private critical cryptography. One example is; when Alice sends a new bitcoin that will Bob, Greg becomes the fresh owner in the bitcoin. Event observing the particular transaction might choose to spend the bitcoin Bob just simply received, although she could not sign typically the transaction but without the knowledge of Bob's private important.[20]

Increase spending[edit] A specific challenge that an online payment system ought to solve is usually double-spending, when a user makes sense the same piece to two if not more different receivers. An example of a really problem can be if Event sent your bitcoin to be able to Alice and later it was sent precisely the same bitcoin for you to Bob. Typically the bitcoin networking guards versus double-spending by means of recording all of bitcoin airport transfers in a journal (the blockchain) that is seen to all clients, and making certain for all transported bitcoins they will haven't been recently previously used.[20]: 5

Race strike[edit] In the event that Eve delivers to pay Alice a bitcoin in exchange intended for goods and also signs any corresponding purchase, it is not impossible that the woman also leads to a different financial transaction at the same time transmitting the same bitcoin to Joe. By the policies, the multilevel accepts just one single of the ventures. This is known as race episode, since there is some sort of race which usually transaction will probably be accepted initially. Alice can help to eliminate the risk of battle attack stipulating that she could not offer the goods until finally Eve's monthly payment to Alice appears inside blockchain.[21]

A plan race harm (which is called a Finney attack by way of reference to Rum Finney) calls for the engaging of a miner. Instead of submitting both transactions requests (to pay Robert and Alice with the identical coins) on the network, Event issues simply Alice's repayment request into the network, whilst the accomplice attempts to mine a new block that has the settlement to Chad instead of Alice. There is a constructive probability which the rogue miner will realize success before the market, in which case often the payment to help Alice are going to be rejected. Just as with the simply race encounter, Alice helps to reduce the risk of your Finney strike by anticipating the monthly payment to be in the blockchain.[22]

History adjustment[edit] Each one block that is definitely added to the exact blockchain, you start with the mass containing settled transaction, is termed a affirmation of that exchange. Ideally, suppliers and expert services that acquire payment inside bitcoin really should wait for no less than one confirmation to generally be distributed in the network, ahead of assuming that the particular payment seemed to be done. Cardiovascular disease confirmations the merchant is waiting for, cardiovascular disease difficult it truly is for an adversary to with success reverse typically the transaction in a very blockchain-unless often the attacker manages more than half the sum network electric power, in which case its called a 51% attack.[23]

Deanonymisation connected with clients[edit] Deanonymisation can be a strategy throughout data mining or prospecting in which private data is definitely cross-referenced for some other sources of records to re-identify the confidential data source. In conjunction with transaction data analysis, which could reveal relationships between bitcoin addresses (pseudonyms),[19][24] there is also a possible episode[25] which inbound links a customer's pseudonym that will its Internet protocol address. If the expert is using Tor, the harm includes a solution to separate the exact peer from Tor community, forcing those to use their whole real Internet protocol address for any even more transactions. Often the attack incorporates bitcoin parts of sending peer includes and anti-DoS protection. The buying price of the encounter on the total bitcoin networking is within €1500 every month.[25]

Monthly payment verification[edit] Main document: Online business deal processing Just about every miner may choose which purchases are built into or exempted from a prohibit.[26] A greater number of deals in a obstruct does not mean greater computational power instructed to solve that will block.[26]

Upon finding a new purchase a computer must verify it: for example, verify in which non-e on the transaction's terme conseillé have been recently spent. To that what is node should access the particular blockchain. Anyone who does definitely not trust his / her network friends, should preserve a full neighborhood copy with the blockchain, so any type can be approved.

As believed in Nakamoto's whitepaper, you can verify bitcoin payments not having running a entire network computer (simplified transactions verification, SPV). A user merely needs a backup of the wedge headers of your longest sequence, which are available simply by querying multilevel nodes until it eventually is noticeable that the best chain may be obtained. In that case, get the Merkle branch backlinks the financial transaction to a block. Backlinks the exchange to a set up the company demonstrates that your network computer has acknowledged it, along with blocks extra after the idea further determine the evidence.[1]

Records in the blockchain[edit] As it is possible to maintain any electronic digital file during the blockchain, the more expensive the business deal size, the more expensive any affiliated fees turn into.[27] Various objects have been set, including Web addresses to little one pornography, the ASCII fine art image with Ben He, material with the Wikileaks cables and wires, prayers coming from bitcoin miners, and the unique bitcoin whitepaper.[28]

Lawbreaker activity[edit] The use of bitcoin by scammers has enticed the attention of monetary regulators, intention bodies, police, and the music.[29] The FEDERAL BUREAU prepared a strong intelligence examination,[30] the SECOND has supplied a sharp warning with regards to investment systems using internet currencies,[29] as well as the U. T. Senate organised a ability to hear on exclusive currencies with November 2013.[31]

Various news retailers have declared that that the vogue for bitcoins depends on the ability to employ them to purchase illegitimate goods.[32][33] In 2014, researchers within the University regarding Kentucky located "robust information that education enthusiasts in addition to illegal pastime drive affinity for bitcoin, and start with limited or any support to get political plus investment purposes. "[34]

Black stores[edit] Key article: Darknet market Some sort of CMU science tecnistions estimated this in this, 4. five per cent to 9% of all orders on most of exchanges worldwide were pertaining to drug home-based trades on a single black web medications market, Egypt Road.[35] Little one pornography,[36] murder-for-hire services,[37] and also weapons[38] may also be allegedly found on black sector sites of which sell around bitcoin. A result of the anonymous dynamics and the absence of central management on these kind of markets, it is not easy to know regardless of if the services will be real or merely trying to do the bitcoins.[39]

Several deeply web dark-colored markets have already been shut by simply authorities. With October 2013 Silk Highway was power down by Ough. S. law enforcement officials[40][41][42] leading to any short-term lessing of the value of bitcoin.[43] In 2015, the originator of the internet site was sentenced to life inside prison.[44] Choice sites have been soon offered, and in first 2014 typically the Australian Displaying Corporation noted that the close-up of A silk filled duvet Road got little affect on the number of Australians selling drug treatments online, which often had basically increased.[45] At the begining of 2014, Nederlander authorities shut down Utopia, a web-based illegal things market, along with seized nine hundred bitcoins.[46] At the end of 2014, some sort of joint police force operation discovered European in addition to American professionals seize bitcoins and in close proximity 400 profound web sites like the illicit possessions market Man made fiber Road minimal payments 0.[47] Police officers activity features resulted in various convictions. Keep away from 2014, Steve Shrem appeared to be sentenced to 2 years throughout prison regarding indirectly helping send $1 million towards Silk Path drugs web page,[48] and in January 2015, it is founder, Ross Ulbricht, has been convicted in drugs rates and people a lifetime sentence.[49]

Some african american market web-sites may keep pace with steal bitcoins from shoppers. The bitcoin community labeled one web site, Sheep Souk, as a hoax when it stopped withdrawals plus shut down immediately after an so-called bitcoins fraud.[50] In a independent case, earnest accounts using bitcoins owned by patrons of an different black color market were being hacked at the begining of 2014.[51]

According to the Online Watch Basis, a UK-based charity, bitcoin is used to order child sex sites, and almost 250 such web sites accept this payment. Bitcoin isn't really the only way to invest in child sexually graphic online, like Troels Oertling, head in the cybercrime system at Europol, states, "Ukash and Paysafecard... have [also] been employed to pay for these material. micron However , the online world Watch Groundwork lists close to 30 web pages that entirely accept bitcoins.[36] Some of these internet sites have close, such as a strong web crowdfunding website that will aimed to investment the formation of new boy or girl porn.[52][better origin needed] Furthermore, backlinks to youngster porn internet sites have been added onto the blockchain as dictatorial data is usually included if a transaction is produced.[53][54]

Malware[edit] Malware obtaining[edit] Many malware could steal privately owned keys intended for bitcoin billfolds allowing often the bitcoins their selves to be compromised. The most common style searches pcs for cryptocurrency wallets to be able to upload into a remote hardware where they are often cracked and the coins ripped off.[55] Many of these furthermore log key strokes to file passwords, typically avoiding the desire to crack the exact keys.[55] Some other approach finds when a bitcoin address can be copied to your clipboard and also quickly changes it along with a different deal with, tricking persons into mailing bitcoins for the wrong street address.[56] This method is successful because bitcoin transactions are usually irreversible.[57]: 57

Just one virus, pass on through the Horse botnet, ended up being reported with February 2014 to have taken up to $220, 000 around cryptocurrencies like bitcoins via 85 purses.[58] Security corporation Trustwave, which will tracked the particular malware, studies that their latest version surely could steal one month types of a digital currency.[59]

A type of Macintosh malware dynamic in August 2013, Bitvanity inquired as a vainness wallet handle generator along with stole contact information and private take a moment from other bitcoin client computer software.[60] A different password cracker for macOS, called CoinThief was described in June 2014 to get responsible for many bitcoin thefts.[60] The software seemed to be hidden in variants of several cryptocurrency blog on Acquire. com in addition to MacUpdate.[60]

Ransomware[edit] Many types of ransomware demand repayment in bitcoin.[61][62] A person program identified as CryptoLocker, commonly spread by means of legitimate-looking email address attachments, codes the hard commute of an attacked computer, in that case displays a new countdown contatore and requirements a ransom in bitcoin, to decrypt it.[63] Boston police mentioned they given a 3 bitcoin ransom in December 2013, value more than $1, 300 then, to decrypt one of their particular hard drives.[64] Bitcoin was used as being the ransom medium sized in the WannaCry ransomware.[65] One particular ransomware different disables access to the internet and calls for credit card facts to restore the item, while confidentially mining bitcoins.[63]

Unapproved mining[edit] In July 2011, Symantec warned with regards to the possibility in which botnets can mine discreetly for bitcoins.[66] Malware used parallel control capabilities involving GPUs built in many modern-day video memory cards.[67] Although the normal PC using an integrated artwork processor will be virtually unproductive for bitcoin mining, numerous PCs crammed with gold mining malware could possibly produce a number of results.[68]

In mid-August 2011, bitcoin mining botnets were noticed,[69] and less in comparison with three months in the future, bitcoin mining or prospecting trojans possessed infected Macintosh personal computer OS A.[70]

Around April 2013, electronic activities organization E-Sports Entertainment appeared to be accused connected with hijacking 18, 000 desktops to my verizon prepaid phone bitcoins; the business later completed the case while using State of latest Jersey.[71]

German law arrested a family in December 2013 who tailored existing botnet software to accomplish bitcoin gold mining, which authorities said were definitily used to my very own at least $950, 000 truly worth of bitcoins.[72]

To get four time in December 2013 and The month of january 2014, Aol! Europe visible an offer containing bitcoin mining trojans that afflicted an estimated a couple million laptops.[73] The software, termed Sefnit, has been detected inside mid-2013 and has now been provided with many software systems. Microsoft have been removing typically the malware by way of its Microsoft company Security Basics and other security and safety software.[74]

Several information of staff members or learners using school or exploration computers for you to mine bitcoins have been publicized.[75]

Income laundering[edit] Bitcoins probably are not ideal for income laundering, mainly because all ventures are open.[76] Authorities, such as European Business banking Authority[77] often the FBI,[30] plus the Financial Steps Task Drive of the G7[78] have depicted concerns this bitcoin should be considered for money washing. In early 2014, an agent of a You. S. bitcoin exchange, Steve Shrem, has been arrested for cash laundering.[79] Later, he was sentenced to two several years in imprisonment for "aiding and abetting an unlicensed money sending business".[48] A summary by Britian's Treasury plus Home Office titled "UK state risk review of money washing and terrorist financing" (2015 October) identified that, on the twelve procedures examined inside the report, bitcoin carries this risk of becoming utilized for money washing, with the most widespread money washing method staying the finance institutions.[80]

Ponzi scheme[edit] In a Ponzi scheme of which utilized bitcoins, The Bitcoin Savings and also Trust offers investors approximately 7 per-cent weekly desire, and brought up at least 800, 000 bitcoins from in 2011 to this.[81] In September 2013 the exact U. S i9000. Securities along with Exchange Cost charged the corporation and its president in 2013 "with defrauding investors within the Ponzi plan involving bitcoin".[81] In Sept. 2014 the particular judge fined Bitcoin Enough cash & Confidence and its master $40 zillion for running a bitcoin Ponzi structure.[82]

Thievery[edit] You can find many cases with bitcoin robbery.[83] One way this can be accomplished will involve a third party opening the non-public key to your victim's bitcoin address,[84] or maybe of an on-line wallet.[85] If your private truth is stolen, every one of the bitcoins from your compromised target can be shifted. In that case, typically the network is deficient in any specifications to identify often the thief, mass further purchases of those lost bitcoins, as well as return them how to the reliable owner.[86]

Theft likewise occurs on sites exactly where bitcoins widely-used to purchase questionable goods. At the end of November 2013, an estimated 100 dollar million throughout bitcoins ended up allegedly compromised from the on the web illicit items marketplace Lambs Marketplace, which in turn immediately sealed.[87] Users ed the gold coins as they were definitely processed in addition to converted to funds, but not any funds have been recovered without culprits known to be.[87] A different charcoal market, A silk duvet Road couple of, stated that will during a Feb . 2014 identify, bitcoins highly valued at $2. 7 trillion were extracted from escrow health care data.[51]

Web-sites where consumers exchange bitcoins for dollars or retailer them with "wallets" are targets to get theft. Terme conseillé. io, a great Australian billfold service, ended up being hacked double in August 2013 plus lost in excess of $1 thousand in bitcoins.[88] In late March 2014 Mt. Gox, on the list of largest online currency transactions, filed pertaining to bankruptcy around Tokyo between reports in which bitcoins well worth $350 , 000, 000 had been ripped off.[89] Flexcoin, any bitcoin hard drive specialist within Alberta, Nova scotia, shut down about March 2014 after telling it found out a thievery of about 650 dollar, 000 inside bitcoins.[90] Poloniex, a digital foreign currency exchange, reported with March 2014 that it misplaced bitcoins greatly regarded at all-around $50, 000.[91] In Thinking about receiving 2015 UK-based bitstamp, your third busiest bitcoin exchange around the globe, was hacked and $5 million throughout bitcoins were being stolen.[92] January 2015 did find a Chinese trade named BTER lose bitcoins worth just about $2 zillion to cyber criminals.[93]

An essential bitcoin change, Bitfinex, seemed to be hacked and also nearly 120 watch, 000 bitcoins (around $60m) was taken in 2016. Bitfinex appeared to be forced to help suspend it has the trading. The exact theft is a second major bitcoin heist ever, dwarfed only by means of Mt. Gox theft with 2014. As per Forbes, "All of Bitfinex's customers,... will probably stand to give up money. This company has has announced a haircut regarding 36. 067% across the board. in[94]

Thefts have increased safety fears. Charles Hayter, founder involving digital money comparison web page CryptoCompare explained, "It’s an indication of the flaccidity of the commercial infrastructure in such a nascent industry. inches[95] According to the reading of United. S. Household of Specialists Committee for Small Business around April a couple of, 2014, "these vendors insufficiency regulatory oversight, minimum cash standards , nor provide purchaser protection against decline or thieves. "[96]

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