#there was a real risk of it becoming unrecoverable
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#this had way fewer likes/rts than i thought it did#there was a real risk of it becoming unrecoverable
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Was looking through some older posts of yours and you had answered in an ask about Guardians changing classes and Rezzyl Azir/Dredgen Yor that:
“So while they may be naturally attune more towards some aspect of Light wielding, they still have to train to actually become their class in full.”
Can you elaborate a little more on that. Like how long would that take and how extensive of the training? Has there been any lore going more into detail about that?
Sorry if that’s a lot. Thank you for everything you do for this community it’s Greatly appreciated!!
It's okay!
Unfortunately, we don't really know how that took place. With Rezyl Azzir/Dredgen Yor it's super hard to say because he's very much a mythologised figure. His transformation into Yor was so mysterious and complete that most people never knew it used to be Rezyl and that was by his own design.
So how long it took him to get into the persona of Dredgen Yor and start behaving more like a Hunter? We have no clue. It might have been a gradual transformation as the Thorn corruption was spreading. Also, since we have no information on Dredgen Yor ever using any Light abilities, we don't even know if he only dressed as Hunter or if he started using what we would typically associate with Hunter abilities. So ultimately we don't even know if he actually trained in any Hunter disciplines.
This is especially a problem for Dredgen Yor in particular because he was such a reviled figure that I don't think he would've had the option to actually have a Hunter or Hunters teaching him. He might've learned through observation only and learned what he could. It was also fairly imperfect for him, as you can see on his cloak that the Hunter symbol isn't quite made properly. This maybe hints that without a proper teacher and enough time, one can't really learn these things easily. But that's purely speculative.
Felwinter also doesn't specify how long it took him to learn cross-class abilities (he learned shoulder charge from Titans). He of course didn't switch his class entirely, but learning other abilities surely takes time. However, we don't know how much time.
Outside of simply gameplay reasons, that's a really interesting question. Perhaps Ghosts have something to do with, as well as maybe some intrinsic attunement to the Light. Maybe the way the Light manifests in someone newly rezed is innately more geared towards a specific type of ability. But then in order to truly perfect this ability, one has to train for it. It's very unclear how it works and we have no idea what are all the elements that affect someone becoming a class or choosing a subclass.
There's some information on newly rezed Guardians in lore. For example, this one from Ghost Stories which is a Ghost recounting his experience with rezing his Guardian for the first time and that Guardian being forced to fight the moment she was rezed:
Problem was… my Guardian—the one I'd spent a very long time looking for—was lying dormant in their path: a lifeless husk in need of a wake-up call before her remains were atomized and I was left, for eternity, without my chosen. That I'd found her seconds before the Red Legion's survey team arrived was… unfortunate. But I had to do what I had to do. Some risks, after all, are worth taking. It was now or never. And besides, there's no timing like bad timing. I opened myself up to the Traveler's gift and enveloped her in Light just as the mining rig settled. My new Guardian gasped and sat up, crying out as if waking from a nightmare.
Basically, the Ghost had to rez her before the remain would be permanently destroyed, becoming unrecoverable. After the initial shock, the Guardian immediately started fighting. With her bare hands. No Light was used and there's no real indication of her class or subclass. There's a mention of her charging, but it's not clear if this is a Titan-type charge. Dodging is also mentioned. Nothing about Light is shown. I'm thinking that it's far more likely that new Guardians don't pick any specific class/subclass until a bit later and that us being rezed with a class is just a gameplay feature. Basically, all Guardians have the potential to use Light and to attune to certain abilities, but at the end of the day they still have to be taught and learned.
Osiris also recounts his experience of seeing Aunor being rezed for the first time.
"I remember the day you were raised," Osiris says with hushed strength. "Curled up beneath a ruined bus, screaming for help. Too terrified to listen to your Ghost, too frightened to hold the gun it had nudged under the wreck for you."
It seems getting to a weapon was more important than Light, possibly because newly rezed Guardians aren't really capable of doing anything specific with it. Which means they have to learn it later, possibly through exploring it on their own or with a teacher (or both). There has to be something innate about it, I think; that everyone's spark is inherenty leaning more into some specific way to use the Light, which then turns into a class through training and learning. Osiris himself is shown, very early in the Dark Age, as wielding Dawnblade. We don't know how long it's been since he was rezed here, but Dawnblade is very much defined almost exactly as we know it even that early in the Dark Age. Very curious.
Already mentioned Felwinter, but if you look at his lore book, he is never shown using the Light here. When he's rezed, he's just confused and in danger, mostly shown running away and using weapons. When he fights a Warlord over what would later become Felwinter's Peak, it is only said that Felwinter shot the Warlord's Ghost. On page 4 of the lore book, Felwinter meets another Exo Guardian and they get into a fight against the frames and only the other Exo is shown using the Light, much to his own surprise:
It was Gryphon who saved them in the end, with three bolts of Arc Light that erupted out of his hands. As the frames closest to them disintegrated in a shower of blue light, Gryphon whooped and said, breathlessly, "I've never done that before."
This is super vague as far as Light abilities go. No clue what class Gryphon-11 would be here. He was capable of using the Light, though clearly has not done so before, and his Light isn't defined into any specific class or ability.
Felwinter later became known for being a void user, but it seems that only came to prominence after he joined with the Iron Lords. He probably ended up favouring the Warlock class for a variety of reasons, but he wasn't really rezed as one in the same sense that it happens to us in the game.
This has also been shown with Zavala in his story trailer. He is never shown using his Light in his early fights; the first time we see him wielding it in the trailer is later in the City.
It's a really interesting thing to think about and so far, we've seen a lot of different things, both in lore and gameplay itself. Lore seems to imply that when a Guardian is rezed, they don't immediately know their class and they don't use their Light right away. But then again, in gameplay we get the Light really quickly. Could also be to indicate that the Young Wolf is special! But either way, there's still a lot that's not super well defined and now with Lucent Hive, the'es even more questions. Seems like the reason they mimic our classes and subclasses is probably because that's what Savathun learned while exploring the Light, as well as possibly something tied to Ghosts and how they've learned that Guardians work. I'm hoping for more on the Lucent Hive over this topic, as their experience would be unique and allow us to study the process in a way that we couldn't do back in the Dark Age.
#destiny 2#guardians#subclasses#rezyl azzir#dredgen yor#felwinter#osiris#long post#ask#put these two together since they're somewhat related#but yeah. the questions about guardians and classes and the light are really interesting#feel free to chime in if there's anything anyone would like to add!
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New Post has been published on http://cryptonewsuniverse.com/crypto-adoption-increasing-regardless-self-custody-is-key-markethives-next-move/
Crypto Adoption Increasing Regardless: Self-Custody Is Key: Markethive's Next Move
Crypto Adoption Increasing Regardless: Self-Custody Is Key: Markethive’s Next Move: Checkmate.
It’s been a disturbing year for the crypto community and institutional investors alike as we’ve witnessed the collapse of Celsius, BlockFi, and now FTX. Billions of dollars of client funds have been lost and, in the case of FTX, one of the world’s largest crypto exchanges, are quite possibly unrecoverable. It’s become increasingly clear that relying on centralized entities to hold your crypto is foolish and purported to be a rookie mistake. But it wasn’t only newbies or retail investors affected by FTX’s demise. Very few predicted the depravity and criminality of FTX cohorts led by Sam Bankman-Fried.
Hedge funds, venture capitalists, investment managers, and high-net-worth individuals were all caught off guard. Who would’ve thought a company praised by politicians, regulators, VCs, and the mainstream media would collapse so quickly and spectacularly? Until you realize that fraud and ill-intent are rife in many so-called respected sectors. Some say FTX was worse than Mount Gox and Quadriga, and others say it’s worse than Enron.
Image source: Cointelegraph
Crypto Adoption Increases
Contrary to the FUD about crypto acceptance diminishing due to recent events, crypto adoption is still increasing. As a store of value, Bitcoin is alive and well, and the decentralized public blockchain of Bitcoin remains as secure as ever. The confidence in the protocol is helping assert its role as a store of value and can reinforce its position as the gold standard of crypto.
Bitcoin has proven to be an effective form of decentralized non-government money. TechCrunch reveals that consumers are utilizing BTC for international remittances for many reasons. Its ability to transcend the traditional financial system is valuable and, in some cases, critical to many potential users. The collapse of FTX or any token doesn't change that.
Many are starting to see that FTX and the like are just stories based on misbehavior and lack of compliance, if not lining one’s pockets under the guise of effective altruism, turned moral vanity. There have been many failures in 2022, and the real losers are the ecosystem of centralized actors and cryptocurrency altcoins that have failed to deliver on their hype.
Questionable Alt-coins
Although FTX and its FTT token are the latest to fail, others have fallen this year alone. The Celsius Network exposed the risk of "stablecoins" as the TerraUSD coin and LUNA token crashed. There was also the collapse of crypto lender Voyager Digital, which FTX subsequently purchased for a mere $51 million, down from a peak valuation of $1.5 billion. Hacks and marketing scams have also plagued the broader sector.
Considering there are over 13,000 cryptocurrencies, only a handful of altcoins have legitimacy and a place in the crypto ecosystem with well-defined utility or unique applications. Altcoins like Ethereum, Litecoin, Cardano, Elrond, and Solana have a reason for being, but there are many with questionable structures with no utility created for speculation purposes only. Some are just coin gimmicks with almost unlimited supply caps, which contradicts the supply and demand theory.
The critical distinction is that these questionable alts are not related to Bitcoin or legitimate altcoins with purpose, especially benevolent ones, that are working towards an alternative future monetary system, just like Satoshi envisioned. There will always be nefarious actors in our midst, and with all that’s been happening, the crypto community is much more discerning.
With Markethive about to appear on the global scene as the first blockchain-driven decentralized social media integrated with broadcasting and inbound marketing platforms and its sovereign monetary system using its native crypto, Hivecoin, security, and privacy are paramount. There are various ecosystems in the crypto space, and a parallel economy is on the rise. Markethive is creating an ecosystem for everyone with an entrepreneurial spirit looking for a sanctuary away from the escalating evil in the world.
Security in centralized exchanges will always be a concern, as is the rollout of CBDCs and digital IDs that are making headlines. In a recent interview, Aman Jabbi, a computer scientist, says that if the population accepts these factors of control, it’ll be game over for humanity. He states the easiest way to push against the system is to “starve the beast” by refusing to use technologies that collect and share your data. Notably, in this case, the beast is AI and is used for evil against humanity, not for good.
As with many other factions rejecting the global elite’s plans, Markethive is building an impenetrable fortress to protect its growing community. Cryptocurrency is the key to freedom and financial sovereignty, so how do we protect ourselves and keep control of our crypto?
With the impending release of the Markethive internal wallet and its official listing of Hivecoin, you will need an external wallet connected to the blockchain for transactions. Unlike keeping your crypto on an exchange, there is only one way you can know for sure that your crypto is under your control: to self-custody your funds.
What Is Self-Custody?
Self-custody is when you hold the private keys to your cryptocurrency wallet, so you can only sign transactions from that wallet. Hence, you are the only person who effectively controls your crypto. There is a well-known phrase in the crypto world; not your keys, not your crypto.
Conversely, when you place your funds on an exchange or any centralized platform, you use a wallet to which the platform has the private key, not you. It's a communal wallet; you have to hope and trust that the exchange won't lend or send those funds to anyone else. So what you essentially have from the exchange is an IOU, which is worth nothing if that exchange goes bust. It’s the same with a traditional bank account in that cash only exists as a database entry.
It’s important to note that there is a distinct difference between self-custody and custody services. Companies like Coinbase, Gemini, Bitgo, and the like, operate custody services. Their primary modus operandi is to hold those coins and tokens for you in a supposedly safe manner. They're much safer than an exchange but are still not the gold standard when controlling your crypto. What you need is a self-hosted wallet.
There are various self-hosted wallets, so the wallet you choose will depend on what you want to use it for and the coins and tokens you want to store.
Image source: Exodus
Non-custodial Wallets
Desktop or software wallets are software programs that you install on your PC and to which you can send your crypto. The private keys themselves are stored on your device in an encrypted fashion, and whenever you want to send a transaction out, they are used to decrypt and sign that transaction.
A reputable wallet, and the one I use is the Exodus Wallet. Exodus has wide-ranging coin support and an intuitive, easy-to-use AI. It’s important to note that no exchange integration in any of the self-custody crypto wallets would ever allow an exchange to hold your private keys.
Exodus also has a mobile wallet for smartphone users and a Web3 wallet that connects you to dApps, DeFi, and all of Web3. The Exodus Web3 Wallet is also a self-custody crypto wallet. It allows you to send, receive, and swap crypto and interact with NFTs on all supported networks.
Other multi-coin wallets to consider are the Atomic wallet or Jaxx wallet. Because of the Markethive and Solana Integration, as long as any of these wallets recognize Solana, they will accept Hivecoin going forward.
Forewarned is Forearmed
It’s also notable that Exodus has never been hacked. If you’ve heard of any reports about Exodus users getting hacked, it stems from where they downloaded the software. When downloading these desktop wallets, check that you download them from the official site. There are thousands of phishing sites that try to impersonate official wallet websites.
Sometimes they'll have a dodgy domain that’s easily overlooked. There have been instances of phishing sites paying for Google ads to have their sites placed above those of the official sites. Once you go on these phishing sites, you may accidentally download a wallet jammed with malware that could be used to steal your private keys.
As with desktop wallets, ensure you download the correct mobile wallet app from the Apple or Google Play store. There have been examples where hackers have uploaded malicious apps and wallets with predictably unpleasant results. It’s also critical to keep your crypto wallet a secret, especially if you have any on your phone. The more people know about your holdings, the more of a target you are for the $5 wrench attack.
It’s also essential to distinguish between crypto company mobile apps and mobile wallets. Smartphone apps like Coinbase, Binance, Nexo, and Crypto.com are just mobile versions of exchanges allowing you to access your crypto accounts. You don't hold the keys; the exchange does.
Once you've downloaded and installed any of these wallets, you'll be asked to generate a collection of seed words. These words are the keys to your crypto kingdom, so be sure to keep them in a safe and secure place and make backups. Remember, anyone with the seed words can regenerate your wallet and exfiltrate your crypto.
All the self-custody wallet solutions mentioned above are free to download and use. The next level option is hardware wallets, like Trezor or Ledger. They store your private keys in a cold environment, which means they are never exposed to the internet as they're always kept on the device itself.
Image source: Exodus
In terms of functionality, hardware wallets will be connected to your computer and operated with software that the device manufacturer has produced. Therefore from a simplicity perspective, they should be relatively easy to use as the software wallet. Furthermore, Exodus has a Trezor integration on its desktop wallet, which adds an advanced layer of security.
Not only is your crypto much more secure with self-custody, but you also have complete control of what you do with that crypto. No permission is needed to withdraw, no limits, and no KYC. It's your wallet, keys, crypto, and your financial freedom.
Moving Forward
2022 will arguably go down as one of the worst years in the crypto ecosystem; however, it is a turning point for the industry as we adapt to weed out bad actors. It'll also be the year where nearly everyone, from big money to average retail users, truly appreciates the importance of decentralization and having total control of their crypto assets.
As we enter 2023 and witness the storm of catastrophic events worldwide and the unveiling of unscrupulous entities, the crypto industry is evolving, realizing and addressing issues borne from a nascent technology.
Markethive is in the eye of the storm, where it’s calm and peaceful, diligently working to bring a blockchain-driven multi-media network to the crypto space. People worldwide who have suffered the tyranny of big tech and social media elite or been displaced or scammed by bad actors are being enlightened.
We can consider all these adverse occurrences as blessings in disguise. The time is right for Markethive to distinguish itself and bring to light its purpose of delivering a broadcasting platform, marketing systems, and communication interface foundational to God’s law, the universal spiritual law where truth, freedom, and liberty are upheld for all of humanity.
Come to our Sunday meetings at 10 am MST as we approach massive significant upgrades and the wallet launch. See and hear explanations, ask questions, and witness the ever-evolving technology and concepts of Markethive. The link to the meeting room is located in the Markethive Calendar.
Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech. I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.
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Effective Project Management to Improve Cash Flow in EPC Companies
1.) Where do CEOs of EPC construction companies spend most of their time and energy??? Or Where do captains of large ships spend most of their time and energy for that matter???
2.) And to achieve what???
3.) Why is it that many profit making companies dries out and eventually they have to go for corporate restructuring or bankruptcy even when they have strong balance sheets for long periods??? Or rather metaphorically why is it that a ship which is in good condition and running in good speed, eventually sinks before reaching its destination???
Well I have been looking for these answers for long and diving deep for understanding the real problems<<real solutions and more importantly the implementation of real solutions...Well the answer is simple for 1st question…Profit and Cash!! ….these are the parameters…. And for the captain its moving forward and preventing the ship from sinking…...When everybody is busy in finding ways of making profits, the 2nd control (Cash) is often neglected and usually the result is catastrophic……And to answer the 2nd question… what do they achieve out of it is <<<survival<<<growth<<<move forward<<< do not sink….Now to answer the 3rd question it is important to look into some facts about the construction industry in India….
The Indian Construction Industry valued at $126 billion and employing around 40 million people, accounts for approx. 8% of the country’s GDP. The industry ranks third in terms of direct, indirect and induced effects in all sectors of the economy. However, it has been a bumpy ride for almost all the construction and real estate companies in India in the past decade. As per Insolvency and Bankruptcy Board of India (IBBI), 388 companies from construction and real estate sectors have filed for Corporate Insolvency and Resolution Process (CIRP) between Dec 2016 and Dec 2018 and many more are on the way for either corporate debt restructuring or bankruptcy.
Construction companies are capital-intensive businesses; large amounts of capital are invested in fixed assets like tools, heavy equipment, and vehicles. Not maintaining an adequate level of capital has led to the failure of many a construction company. Not having enough capital to get your company through lean times or to overcome unexpected surprises is a huge risk.
Even the companies doing well in terms of revenue booking, decent order inflow and not-so-bad profit margins have seen distress enough to reach an unrecoverable financial state on account of their poor cash flow management. While many companies fail to manage delays in projects due to poor risk management, others have not been able to control costs due to poor project monitoring and controlling systems.
Now to answer the 3rd question……Overleveraging, tying up working capital and cash in ongoing projects, and overinvesting in fixed assets that are underutilized are some common reasons firms will dip into their rainy day reserves and deplete all available capital. Without that buffer, construction companies face failure when an unexpected need for capital surprises them. As per KPMG’s global construction survey, 82% of Indian companies operating in the construction space in India have one or more underperforming projects during the last financial year. These underperforming projects have consumed too much cash and affected other projects hindering their implementation as well.
While construction companies are mainly project-driven and each project contribute towards all the financial parameter like revenue, profit, cash reserve/deficit etc., tt is most important that we manage our projects not only to generate profit but rather to keep a balance between cash flow and profit margin for growth as well as stability
New Projects: In these times when there is no shortage of opportunities of EPC contracts in India, with GOI budget allocation of INR 5.97 lakh crore for infrastructure sector in FY2018-19 and 100 lakh crore for 5 years in 2019-24, it is very important that companies become selective and choose the right project strategically which is best suited for not only their growth but also for stability. When it comes to choosing which opportunities to take it is like selecting a tetrominoes in the game of tetris and when wrong block is placed at the wrong place, it will consume too much space which in turn will take a lot of time, energy and money to correct the course.
On-going Projects: Projects are controlled using various project monitoring tools and techniques like physical plan versus actual, budget versus actual, earned value analysis etc. It is imperative to use these tools and technique in the proper manner for a company to have control on delivery of their projects and hence the overall performance of the company. Ironically, many Indian construction companies either ignore the benefits of these tools and techniques or use it just for the sake of MIS.
A summary of some realistic solutions or rather a brief from my white paper on “Effective Project Management to Improve Cash Flow in EPC Projects” is attached via link…these are some quick tips for preventing the “ship from sinking” and of course your valuable comments are most welcome…..:)
https://www.slideshare.net/secret/MpNG6u4vVQXL36
#epc#construction#contractor#project management#Project Manager#toc#ccpm#indian companies#construction projects
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Someone asked this question on stackexchange, User Sun Qingyao produced a fantastic response which I reproduce below:
Let's try to do this.
(They told you it can't be done. They're right. Realistically, it can't. So, disclaimer: I'm going to employ industrial quantities of high-grade Improbability).
Notes
I had to play with "realize what this thing is". There's no reasonable way I can hand-wave an alchemist deducing nuclear fission. The best I think we can aim for is strongly suspect this thing was designed for, and capable of, flattening a city.
And I had to conflate alchemical knowledge with sorcery and occult lore, to help explain why someone might decide to do some things in one way or another, or why jump to some very specific conclusions instead of others.
In several places, the actual likely outcome is one dead alchemist. Most parts of a nuclear bomb are toxic, and several of those that aren't all that dangerous will become so once subjected to standard alchemical procedures. During examination of the explosive lens, for example, it's a safe bet that poisoning will happen, or at the very least the alchemist will find himself changed into a canary girl.
And finally, the bomb was almost surely not functional before the examination, and will get messed up beyond all recognition by the disassembly. It may still poison a large area, but no mushroom explosion, ever.
So the High Alchemist gets his hands on this strange object, incredibly heavy. He is scientifically minded, so he starts recording everything on vellum. The runes on the surface of the object, its size, its weight. How the various parts are put together.
After a short time the alchemist concludes, so far, that the device is built up of two parts. One is a jumble of incredibly small components connected by colored wires, and put together every which way. There are several things resembling gems and precious metals in this part of the object, and they are carefully arranged to form what looks like the most complex amulet he's ever seen. Whatever this thing was designed to do, it must do so by channeling ridiculous amounts of magic. He very carefully pries the boards apart and gives them to an apprentice to record every printed circuit, every trace, every wire, and every object and rune on them.
Several components appear to have decayed during the time, and are clearly unrecoverable.
The second part of the object is a heavy sphere armored in steel. With care, the alchemist opens the shell. There are other shells inside. Whatever is inside must be really precious. The wires clearly demonstrate that something was intended to go from somewhere outside, along the precious copper cables, into the sphere. Magic, since the cables are not hollow. An egg? Could this thing be an Alchemical Egg?
The alchemist goes on with bated breath and trembling hands. If this thing is really an Alchemical Egg, its weight has an obvious explanation. It has been already activated somehow, long ago, and a sizeable part of the mass has been transmuted into gold. But more than that, inside the sphere there must still be its key component - the petra philosophorum, the Philosopher's Stone.
Carefully, he removes layer after layer. After a couple days' work, he is again puzzled. What is this thing?
The inside could contain several dangerous elements; a residue of ignis aqua could easily contaminate his whole laboratory, and only a fool handles carelessly a potential alkahest hazard. Spirit of mercury is also a probable component, no less lethal than the first. Then, the apprentice reported a rune structure that's totally unknown; there's a very real possibility that the thing is demonically powered. The alchemist goes even more slowly, aware that one false move and he stands to lose his life, and/or his soul.
So after warding everything twice and operating inside a defensive pentacle, the alchemist removes with some effort one frankincense-smeared wedge with several pounds of Composition B.
Which looks nothing like spirit of mercury. It certainly isn't any sane ingredient an alchemist would recognize. What is it made of?
However, the standard analysis procedure is pretty straightforward. The alchemist scoops a generous dollop of the substance and charges another apprentice with the performing of all the standard tests - acid, fire, crushing, evaporation, washing with oil of vitriol and other acids, incineration and reacting it with known substances.
The following day, much wiser and one apprentice shorter, the alchemist concludes that those wedges are made of a heretofore unknown, and incredibly powerful, explosive substance.
But this does not make sense at all; why armor the sphere? Why manufacture it with such care? Why connect the wedges with those wires? At this point it is obvious that the thing is not an Alchemical Egg. It is a weapon; logically, it must either be directed against something inside - it was designed to destroy the much smaller sphere in the center - or it was, more likely, designed to direct its force outside.
On the other hand, that hellish substance the wedges are made of looks like the weapon to end all weapons all by itself, and it would have been infinitely easier to use alone.
No; if someone wants to kill you, has a knife, and yet uses it to do something apparently not murderous instead of just stabbing you, this indicates that the knife is a means to cause something even more lethal to happen. Like cutting a rope and make the victim fall in a chasm, or wounding a dangerous animal to excite it to a killing frenzy.
Now dreading what he's going to find, the alchemist removes the last layer. His eyes widen in shock. For a moment he thinks that his first theory was spot on: the thing is an Alchemical Egg, as before him there is a perfect sphere of what looks like solid gold, polished to a mirror finish.
Unfortunately, the substance can't be gold. It's too light by a good margin.
(This is delta-phase, gallium-alloyed plutonium, nickel-plated to prevent it from oxidizing and then gold-plated. If the alchemist could remelt it and separate the gallium, the plutonium would cool in the much denser alpha phase, which is a bit denser than gold, and proportionately more likely to go critical with lethal results. Unfortunately for him, removing the gold-plated nickel layer separating the plutonium from air is not a healthy move and he would not survive the melting and its fumes, nor would his apprentices. At this point, actually, he's already a high cancer risk.)
Also, the golden sphere is warm. Noticeably warm.
And he's not so great a fool as to mar the perfection of the mirror - there're many things mirrors can be used for, and inside a sealed sphere, looking at oneself wasn't one of them. All the other uses involve magic, if not Powers that's better not to name. There's a dark spell involving the blood of a virgin and two mirrors facing one another, that can produce infinite reflections of something - like a bag of coins - and make them real and tangible.
After several weeks of careful, careful testing, the alchemist comes to the conclusion that the sphere contains some powerful source of energy, likely magic in nature, that keeps the sphere warm no matter what.
So: a perfect sphere, plated with gold. And finally the purpose of the assembly is clear: should all the wedges explode - which can only be triggered somehow by those mysterious copper wires, going to small devices attached to the powerful explosive - they would do so inward, directing an unimaginable wave of destruction against the mirror-finished sphere.
A concave mirror will concentrate something; a sphere is the exact opposite, a convex mirror that will amplify and spread out the energy it receives.
In the alchemist's mind's eye, the wave of infernal fire reaches the sphere and rebounds, powered by the strange life force imprisoned inside, and expands again -- now multiplied a hundredfold or a thousandfold, destroying everything it encounters for miles around...
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Humans vs Uber: Will Blockchain Help?
Uber managed to gain a remarkable market share in the transport industry by implementing a simple but powerful idea. The company didn’t invest in a technology from scratch, but selected an industry with great demand and built an ecosystem with a broader supply chain. Uber realized that the difference of quality and cost expectation assurance to be competitive depending on the market dynamics.
Many believe that Uber’s surge-price algorithm which adjusts fare price according to demand is a brilliant example of supply and demand at work. It could possibly be the literal realization of every economist’s fantasy that is catalyzed by the mobile Internet. However, is “uberizing” possible for every single sector of the modern economy? While the concept seems attractive to many sectors as a promise for developing a more equitable supply-chain, whether “Uberization” will gain ground as a popular development model for startup enterprises remains a question.
As blockchain is co-opted into the infrastructure of traditional business the world will see how well the concept of “Uberization” fares. In real-world applications, blockchain might be the only technology which can solve the issue of trust and minimizing excessive middlemen costs. Blockchain platforms provide participants with the agency to self-organize, and communities governed by blockchain will need to prove their value and efficacy beyond the mere theoretical premise that there is no need for middlemen in markets that are decentralized and self-regulated.
Currently, many initiatives and projects are trying to grab a slice of the Uberization vertical markets pie. The concept of eliminating the need and cost of a third-party through the use of blockchain technology is very attractive to many corporations and could also help to better protect data against data breaches. Among the key “opponents” of Uberization, is the concept of humanization, a blockchain specific term which can be defined as ‘ensuring the integrity of a supply chain by guaranteeing the integrity and provenance of the transacting community.’ Within this decentralized realm, the conceptual strength and communal belief in ‘humanization’ are essential as everybody is accountable to everyone. While blockchain provides total immutability and security, humanization bolsters each participants’ belief that all interactions also occur within an environment governed by a mutually accepted moral scope.
The Current Mania Surrounding Uberization
Uberization of services is primarily focused on addressing markets that are geographically hyper-local and a fragmented market composed of many small providers tends to be plagued by quality control issues such as unpredictable customer experiences. Uber’s model attacks this issue simply because of its simplicity. By listing all of the available suppliers, or more specifically 3 million drivers across the globe, customers are able to access a database of verified providers and communicate with each other in a safe environment.
Among the highlights of Uber’s tech is the “surge-price” policy – when there is a lack of available cars and the demand for rides is increased, the price is higher than the average. The combination of real-time market dynamics evaluation through the user’s smartphone creates a real case study where the free market wins. The fare calculation process is the sum of the base rate, the rate for the estimated time and distance of the route, and the current demand for rides in the area.
Another economic issue attracting companies to the Uberization concept is the slack hurdle in economic relations. In places dealing with a rising unemployment rate, the high demand for flexible and entrepreneurial jobs is driving more people looking for work into “crowdworking”. Uberization increases the monetization of valuable assets like cars and effectively boosts the productivity of their owners. As the concept of Uberization expands to new vertical markets “personal” assets become commercially productive and there is the opportunity for ‘uberized’ companies to reduce their operating costs as the employees’ private assets are used to deliver products and services.
For these reasons, it’s easy to see why the Uber model is attractive as it combines mobile technology, dynamic pricing, and dynamic supply to develop a disruptive and delightful user experience. Uberization is actually quite similar to Saul Kaplan’s definition of innovation as “a better way to deliver value.”
Successful industries that have been Uberized
A slew of major industries have already adopted Uber’s business model and the question is how long can the trend continue?
Airbnb: Airbnb is one of the most successful Uber-like business model startup, which allows property owners to rent their properties through peer-to-peer contracts brokered over Airbnb’s secure platform. The result of Airbnb’s practice has accepted a lot of criticism all around the world. Deliveroo / Zomato / Uber Eats / Wolt: Food and personal items delivery has grown to be a huge business and sophisticated vehicle fleets utilize complex routing algorithms to arrange efficient delivery schedules that ensure every customer receives their product as quickly as possible. Postmates aims to be the ‘Uber’ of goods and their delivery service sends couriers to deliver local goods to customers in under one hour.
Doctor Anytime / StyleBee / Uber Healthcare: This Uber-like tool allows people who need health-related service to get a provider to visit them, and take care of their health. The same is extended for beauty service providers, making the appointment process less complicated and efficient.
HouseCall / Handy: It is generally proved by experience that finding a good technician or house-related services provider is not such an easy task. Today there are several Uberized startups that are aggregating service providers as an on-demand mobile service and establishing some service standards.
Risks of Uberization
First, it is possible that the Uberization of goods and services introduces a new degree of uncertainty about the amount of slack remaining in the economy and the true potential for above-trend growth. For instance, Uber’s model may increase the potential value of private vehicles but may reduce the necessity of car ownership. The above shows a problematic issue regarding the traditional measures of economic slack.
Secondly, there are several risks to the human side of the Uber model. There are major questions revolving whether Uber-like startups’ workers in the new age have a sense of commitment. In the process of simplifying labour routines companies must question whether potential employees possess the right skills and training to do the job, or even if they have the appropriate level of judgment and discretion to take the lead from the retiring generation Baby Boomers. Third, another important issue that may arise is related to the safety standards stemming from a workforce that might be less committed than professional taxi drivers. There are already a number of examples of drivers mistreating customers during Uber routes despite the grading practice of the company. Fourth, there are concerns about the economic benefits of employees under an Uber-like working schedule and there are some severe drawbacks that may happen if the model expands rapidly. A recent report from the International Labour Organization calculated that an average American crowd worker earns less than $5 per hour. Lastly, rapid Uberization may lead to unsustainable migration to big cities by workers with hopes of better living conditions and job opportunities. Over the long-term, this could result in unrecoverable changes to climate conditions, health, infrastructure, and social stability.
Instances of failure in Uberization
Many competitors have been inspired by Uber and tried adopting their business model over the past couple of years. However, there were a lot of failures among them.
Homejoy
Homejoy is an on-demand cleaning service for homes and offices spaces by making use of independent cleaning contractors. The major problems that faced Homejoy were the following:
Customer Retention – As the only marketing aspect that the company adopted was Groupon deals, the heavy use of sign up promotional codes by the customers led to few monthly purchases. Simultaneously, competitors managed to retain customers and eventually Homejoy failed to corner any portion of the market.
Unsustainable Expansion – In its initial phase, the startup raised around $30M and investors expected a rapid growth rate. To please investors, the company quickly expanded its service to around 30-36 cities in 6-months. Since customer retention was low, the expansion turned out to be very costly for the company.
Lack of Quality Control –: Homejoy was unable to follow up on the quality of services rendered by independent contractors, thus the customer experience was uneven. This led to many customers uninstalling the app and leaving bad rating.
Exec
Exec is an on-demand service for providing workers to do any kind of random work. The major problems with Exec were the following:
High Demand, Limited Supply – Exec aimed to provide workers for all kinds of jobs but struggled to provide enough works skilled in each particular field. Expensive overhead costs and high demand for workers during holidays and weekends meant errand workers were unavailable during this period. This resulted in employees being sent to serve the customers.
Budget issues – Most of the expenses for Exec went to software engineers who were constantly working to improve the quality of the application. The commission they charged was 20% and the costs for customer acquisition, customer service, and recruiting sufficient supply had to be paid from this considerable amount.
Rivet and Sway
Rivet and Sway was an on-demand service for providing fashionable, bespoke eyeglasses to the women. The major problems with the startup were the following:
High Customer Acquisition Cost – Although they were targeting a fashion-conscious audience, they failed to notice that they had to deal with persnickety customers as well. Customers wanted to try the glasses before the purchase, something that increased shipping costs. As a consequence, the company struggled to attract additional capital despite an admirable idea.
Fierce Competition – Warby Parker gave tough competition to Rivet and Sway in terms of investments. If Rivet and Sway had been properly funded they could have supported a system allowing customers to trial the product and return it if it wasn’t satisfactory. Alternatively, the company could have gone hyper-efficient in launching online showrooms.
What’s the alternative: Humanization
Although Uberization brings a lot of benefits to the table, there is still a need for humanization in business. Apart from the first association aroused by the term – acting like a human in business – the term is widely applicable.
Airbnb and Uber customers feel as if they are part of a community of peers, and the model between the service provider and the client has changed drastically. Modern clients desire to interact with a service provider in a trusted relationship similar to the type they would have with a friend or a peer. While current companies’ service is personalized, trust and transparency in the concept of humanization are implanted in business relationships.
Many companies are trying to transition into the era of humanization by making their policies and operations more “human-oriented” instead of turning their workers into algorithmic “masses”. It’s a very challenging situation considering that many companies have used AI to automate processes that were once handled by humans. Within the concept of Humanization, all the procedures of the company are customer-oriented and tied to each other as interacting parties.
Despite the trend being relatively new, with most enthusiasts attempting to approach humanization from a theoretical point of view, its real potential is widely recognized by large companies who view humanization as a game-changing business model. For example, Humans.net – a global game-changer in the freelancing market promises no fee, peer-to-peer marketplace where job seekers can connect with job providers. The company has already run a $10 million initial seed funding round, which lead to participation from more than 200,000 users in four U.S. states. Essentially, Humans aims to solve the majority of problems which are byproducts of the Uberization process.
How Blockchain fits in this scope
The world has witnessed “dehumanizing” technology that seems to diminish people’s ability to communicate with others or to function effectively in the world. This kind of technological progress creates new boundaries between people, rather erasing old ones. Humanizing technologies are those that meet one of three core human needs:
Safety and Security
Human Relationships
Personal Growth
A number of CEOs, researchers, academics and analysts are aware of the dehumanization brought about by technology. The following views attempt to connect the capacity of blockchain with the needs to be addressed by the humanization of businesses.
Decentralization in a blind-trust environment
“Transformative services like Uber and others have evolved into gigantic centralised corporations, keeping around 35% of all transactions at the expense of the people that make the service work. Blockchain as an immutable ledger allowing for the very first time in modern tech revolution the creation of truly decentralized indices to facilitate transaction and business execution in a blind trusted environment rewarding human creativity, without the pains of centralized services.”
— Vlad Dobrynin, Founder and CEO of Humans.net
Durability and Robustness
“As revolutionary as it sounds, Blockchain truly is a mechanism to bring everyone to the highest degree of accountability. No more missed transactions, human or machine errors, or even an exchange that was not done with the consent of the parties involved. Above anything else, the most critical area where Blockchain helps is to guarantee the validity of a transaction by recording it not only on a main register but a connected distributed system of registers, all of which are connected through a secure validation mechanism.”
— Ian Khan, TEDx Speaker, Author, Technology Futurist
Transparent and incorruptible
“Blockchain solves the problem of manipulation. When I speak about it in the West, people say they trust Google, Facebook, or their banks. But the rest of the world doesn’t trust organizations and corporations that much — I mean Africa, India, Eastern Europe, or Russia. It’s not about the places where people are really rich. Blockchain’s opportunities are the highest in the countries that haven’t reached that level yet.”
— Vitalik Buterin, inventor of Ethereum Growth
“2017 will be a pivotal year for Blockchain tech. Many of the startups in the space will either begin generating revenue – via providing products the market demands/values – or vaporize due to running out of cash. In other words, 2017 should be the year where there is more implementation of products utilizing Blockchain tech, and less talk about Blockchain tech being the magical pixie dust that can just be sprinkled atop everything. Of course, from a customers viewpoint, this will not be obvious as Blockchain tech should dominantly be invisible – even as its features and functionality improve people’s’/business’ lives.
I personally am familiar with a number of large-scale Blockchain tech use cases that are launching soon, 2017. This implementation stage, which 2017 should represent, is a crucial step in the larger adoption of Blockchain tech, as it will allow sceptics to see the functionality, rather than just hear of its promise.”
— George Howard, Associate Professor Brown University
It seems that there has been little attention to the human adoption of Blockchain so far. The humanization of Blockchain technology explains how it can create applications and tools which can impact our daily lives positively.
“The humanization of blockchain technology explains how it can create applications and tools which can impact our daily lives positively: catering to consumers needs for rewarding experiences, trust and reliance, convenience, security, belonging, lower costs and instant gratification.”
— Alexander Johnson, co-founder of Everus Technologies
Taking Humanization to the Next Level
Another example of a company taking measures to integrate humanization to uberized business practice is Humans.net. Unlike Google which searches for information, Humans.net searches for people by enabling them to enhance the way they relate to each other in many ways. Humans.net is a truly decentralized platform, run by the people, for the people. There are no middleman, no fees, and a greater share of the platform’s revenue is redistributed to contributors, unlike transformative services like Uber which keep around 35% of all transactions at the expense of the people that make the service work.
As Humans.net CEO Vlad Dobrynin explained, Humans.net gives back to its users, by returning a significant part of its revenue to active users that make the platform possible, unlike large conglomerates such as Facebook that make billions of dollars from selling the data of their users.
Eliminating Uber-like model fees
Some would say that the advent of Uberization was the proletarian response to an unfair supply chain market in endless sectors of the job market. The resulting increase in competition has created new opportunities for workers and improved the quality and variety of services available to customers while also reducing the price. On the other hand, these cost savings were absorbed from the enormous fees of “Uberized markets” which account for nearly 20 percent of the revenue generated by service providers. This producing a cyclical conundrum where providers see their income reduced, while their job is becoming more and more difficult.
Today the Uberization model is being gradually replaced by the concept of humanization and the integration of blockchain and artificial intelligence could eventually lead to markets that are more decentralized. While the Uberization model remains one of the most profitable business models for large businesses, humanization can enhance the application of this model across a wide array of sectors where social interaction between users is the primary driver of transactions.
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Six Tools Used by Hackers to Steal Cryptocurrency: How to Protect Wallets
In the early July, it was reported that Bleeping Computer detected suspicious activity targeted at defrauding 2.3 million Bitcoin wallets, which they found to be under threat of being hacked. The attackers used malware — known as “clipboard hijackers” — which operates in the clipboard and can potentially replace the copied wallet address with one of the attackers.
The threat of hacking attacks of this type has been predicted by Kaspersky Lab as early as November of last year, and they did not take long to become reality. For the time being, this is one of the most widespread types of attacks that is aimed at stealing users’ information or money, with the overall estimated share of attacks to individual accounts and wallets being about 20 percent of the total number of malware attacks. And there’s more. On July 12, Cointelegraph published Kaspersky Lab’s report, which stated that criminals were able to steal more than $9 million in Ethereum (ETH) through social engineering schemes over the past year.
Image source: Carbon Black
Briefly about the problem
The already mentioned Bleeping Computer portal, which works on improving computer literacy, writes about the importance of following at least some basic rules in order to ensure a sufficient level of protection:
“Most technical support problems lie not with the computer, but with the fact that the user does not know the ‘basic concepts’ that underlie all issues of computing. These concepts include hardware, files and folders, operating systems, internet and applications.”
The same point of view is shared by many cryptocurrency experts. One of them, Ouriel Ohayon — an investor and entrepreneur — places the emphasis on the personal responsibility of users in a dedicated Hackernoon blog:
“Yes, you are in control of your own assets, but the price to pay is that you are in charge of your own security. And since most people are not security experts, they are very much often exposed — without knowing. I am always amazed to see around me how many people, even tech savvy ones, don’t take basic security measures.”
According to Lex Sokolin — the fintech strategy director at Autonomous Research — every year, thousands of people become victims of cloned sites and ordinary phishing, voluntarily sending fraudsters $200 million in cryptocurrency, which is never returned.
What could that tell us? Hackers that are attacking crypto wallets use the main vulnerability in the system — human inattention and arrogance. Let’s see how they do it, and how one can protect their funds.
250 million potential victims
A study conducted by the American company Foley & Lardner showed that 71 percent of large cryptocurrency traders and investors attribute theft of cryptocurrency to the strongest risk that negatively affects the market. 31 percent of respondents rate the hackers’ activity threat to the global cryptocurrency industry as very high.
Image source: Foley & Lardner
Experts from Hackernoon analyzed the data about hacking attacks for 2017, which can be conditionally divided into three large segments:
– Attacks on the blockchains, cryptocurrency exchanges and ICOs;
– Distribution of software for hidden mining;
– Attacks directed at users’ wallets.
Surprisingly, the article “Smart hacking tricks” that was published by Hackernoon didn’t appear to get wide popularity and warnings that seem to be obvious for an ordinary cryptocurrency user must be repeated again and again, as the number of cryptocurrency holders is expected to reach 200 million by 2024, according to RT.
According to research conducted by ING Bank NV and Ipsos — which did not consider East Asia in the study — about nine percent of Europeans and eight percent of U.S. residents own cryptocurrencies, with 25 percent of the population planning to buy digital assets in the near future. Thus, almost a quarter of a billion potential victims could soon fall into the field of hacking activity.
Apps on Google Play and the App Store
Tips e – Don’t get carried away with installing mobile applications without much need; -Add Two Factor Authorization-identification to all applications on the smartphone; -Be sure to check the links to applications on the official site of the project.
Victims of hacking are most often smartphone owners with Android operating system, which does not use Two Factor Authentication (2FA) — this requires not only a password and username, but also something that user has on them, i.e., a piece of information only they could know or have on hand immediately, such as a physical token. The thing is that Google Android’s open operating system makes it more open to viruses, and therefore less safe than the iPhone, according to Forbes. Hackers add applications on behalf of certain cryptocurrency resources to the Google Play Store. When the application is launched, the user enters sensitive data to access their accounts and thereby gives hackers access to it.
One of the most famous targets of a hacking attacks of this type were traders of the American cryptocurrency exchange Poloniex, which downloaded mobile applications posted by hackers on Google Play, pretending to be a mobile gateway for the popular crypto exchange. The Poloniex team didn’t develop applications for Android, and its site doesn’t have links to any mobile apps. According to Lukas Stefanko, a malware analyst at ESET, 5,500 traders had been affected by the malware before the software was removed from Google Play.
Users of iOS devices, in turn, more often download App Store applications with hidden miners. Apple was even forced to tighten the rules for admission of applications to its store in order to somehow suspend the distribution of such software. But this is a completely different story, the damage from which is incomparable with the hacking of wallets, since the miner only slows down the computer operation.
Bots in Slack
Tips: -Report Slack-bots to block them; -Ignore bots’ activity; -Protect the Slack-channel, for example, with Metacert or Webroot security bots, Avira antivirus software or even built-in Google Safe Browsing.
Since mid-2017, Slack bots aimed at stealing cryptocurrencies have become the scourge of the fastest-growing corporate messenger. More often, hackers create a bot that notifies users about problems with their cryptos. The goal is to force a person to click the link and enter a private key. With the same speed with which such bots appear, they are blocked by users. Even though the community usually reacts quickly and the hacker has to retire, the latter manages to make some money.
Image source: Steemit @sassal
The largest successful attack by hackers through Slack is considered to be the Enigma group hack. The attackers used Enigma’s name — which was hosting its presale round — to launch a Slack bot, and ended up defrauding a total of $500,000 in Ethereum from credulous users.
Add-ons for crypto trading
Tips -Use a separate browser for operations with cryptocurrencies; -Select an incognito mode; -Do not download any crypto add-ons; -Get a separate PC or smartphone just for crypto trading; -Download an antivirus and install network protection.
Internet browsers offer extensions to customize the user interface for more comfortable work with exchanges and wallets. And the issue is not even that add-ons read everything that you are typing while using the internet, but that extensions are developed on JavaScript, which makes them extremely vulnerable to hacking attacks. The reason is that, in recent times — with the popularity of Web 2.0, Ajax and rich internet applications — JavaScript and its attendant vulnerabilities have become highly prevalent in organizations, especially Indian ones. In addition, many extensions could be used for hidden mining, due to the user’s computing resources.
Authentication by SMS
Tips: -Turn off call forwarding to make an attacker’s access to your data impossible; -Give up 2FA via SMS when the password is sent in the text, and use a two-factor identification software solution.
Many users choose to use mobile authentication because they are used to doing it, and the smartphone is always on hand. Positive Technologies, a company that specializes in cybersecurity, has demonstrated how easy it is to intercept an SMS with a password confirmation, transmitted practically worldwide by the Signaling System 7 (SS7) protocol. Specialists were able to hijack the text messages using their own research tool, which exploits weaknesses in the cellular network to intercept text messages in transit. A demonstration was carried out using the example of Coinbase accounts, which shocked the users of the exchange. At a glance, this looks like a Coinbase vulnerability, but the real weakness is in the cellular system itself, Positive Technologies stated. This proved that any system can be accessed directly via SMS, even if 2FA is used.
Public Wi-Fi
Tips: -Never perform crypto transactions through public Wi-Fi, even if you are using a VPN; -Regularly update the firmware of your own router, as hardware manufacturers are constantly releasing updates aimed at protecting against key substitution.
Back in October last year, in the Wi-Fi Protected Access (WPA) protocol — which uses routers — an unrecoverable vulnerability was found. After carrying out an elementary KRACK attack (an attack with the reinstallation of the key) the user’s device reconnects to the same Wi-Fi network of hackers. All the information downloaded or sent through the network by a user is available to attackers, including the private keys from crypto wallets. This problem is especially urgent for public Wi-Fi networks at railway stations, airports, hotels and places where large groups of people visit.
Sites-clones and phishing
Tips: -Never interact with cryptocurrency-related sites without HTPPS protocol; -When using Chrome, customize the extension — for example, Cryptonite — which shows the addresses of submenus; -When receiving messages from any cryptocurrency-related resources, copy the link to the browser address field and compare it to the address of the original site; -If something seems suspicious, close the window and delete the letter from your inbox.
These good old hacking methods have been known since the “dotcom revolution,” but it seems that they are still working. In the first case, attackers create full copies of the original sites on domains that are off by just one letter. The goal of such a trick — including the substitution of the address in the browser address field — is to lure a user to the site-clone and force them to enter the account’s password or a secret key. In the second case, they send an email that — by design — identically copies the letters of the official project, but — in fact — aims to force you to click the link and enter your personal data. According to Chainalysis, scammers using this method have already stolen $225 million in cryptocurrency.
Cryptojacking, hidden mining and common sense
The good news is that hackers are gradually losing interest in brutal attacks on wallets because of the growing opposition of cryptocurrency services and the increasing level of literacy of users themselves. The focus of hackers is now on hidden mining.
According to McAfee Labs, in the first quarter of 2018, 2.9 million samples of virus software for hidden mining were registered worldwide. This is up by 625 percent more than in the last quarter of 2017. The method is called “cryptojacking” and it has fascinated hackers with its simplicity in such away that they massively took up its implementation, abandoning the traditional extortion programs.
The bad news is that the activity of hacking has not decrease in the least bit. Experts of the company Carbon Black — which works with cybersecurity — revealed that, as of July 2018, there are approximately 12,000 trading platforms on the dark web selling about 34,000 offers for hackers. The average price for malicious attack software sold on such a platform is about $224.
Picture source: Carbon Black
But how does it get on our computers? Let’s return to the news with which we started. On June 27, users began leaving comments on Malwarebytes forum about a program called All-Radio 4.27 Portable that was being unknowingly installed on their devices. The situation was complicated by the impossibility of its removal. Though, in its original form, this software seems to be an innocuous and popular content viewer, its version was modified by hackers to be a whole “suitcase” of unpleasant surprises.
Of course, the package contains a hidden miner, but it only slows down the computer. As for the program for monitoring the clipboard, that replaces the addresses when the user copies and pastes the password, and it has been collecting 2,343,286 Bitcoin wallets of potential victims. This is the first time when hackers demonstrated such a huge database of cryptocurrency owners — so far, such programs have contained a very limited set of addresses for substitution.
After replacing the data, the user voluntarily transfers funds to the attacker’s wallet address. The only way to protect the funds against this is by double-checking the entered address when visiting the website, which is not very pleasant, but reliable and could become a useful habit.
After questioning of victims of All-Radio 4.27 Portable, it was discovered that malicious software got on their computers as a result of unreasonable actions. As the experts from Malwarebytes and Bleeping Computer found out, people used cracks of licensed programs and games, as well as Windows activators like KMSpico, for example. Thus, hackers have chosen as victims those who consciously violated copyright and security rules.
Well-known expert on Mac malware Patrick Wardle often writes in his blog that many viruses addressed to ordinary users are infinitely stupid. It’s equally silly to become a victim of such hacking attacks. Therefore, in conclusion, we’d like to remind you of the advice from Bryan Wallace, Google Small Business Advisor:
“Encryption, anti-virus software, and multi-factor identification will only keep your assets safe to a point; they key is preventive measures and simple common sense.”
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The 7 Inevitable Stages of Pain Before You Succeed
Success is a climb. It’s a journey. It’s lifelong and built with undulating and unpredictable ups and downs. Success is always built upon risk, change, and personal development. The journey teaches you to cope with failure. You learn to get up anyway, and to push onward towards your dreams. Many start their journey with pie-in-the-sky, smooth-road ideals, yet, success is rarely, if ever, that type of journey. If you want to succeed you must have the resilience to face the inevitable.
1. You will feel pain.
Every successful person travels a painful journey. Suffering is an integral and essential part of any real pursuit of success. Nothing about success comes easy, but every painful story has the potential to have a successful ending. You may as well accept suffering as a traveling companion, rather than resist it and create more struggle. See each day as a day that you are blessed with new chances and opportunities to start from the place you find yourself. Uncertainty and stress are inevitable. Both prompt you to make adjustments to mitigate their effects, mentoring you toward further success. A little stress can push you in a positive direction.
2. You will want to give up prematurely.
As you wonder through your more directionless times on your journey, you will experience intense moments of feeling lost and hopeless. It is during these times you must hold tight to your vision and take back control of your motivation. You must prepare yourself mentally to fight that little voice inside your head that becomes a force to reckon with when you have to push yourself to keep going when you don’t feel like it. The quickest way to derail your dreams is to quit when things look bleak. Quitting, when you are on the front lines of these critical moments, keeps you living amongst the average. The successful persevere and rise.
3. You will lose relationships.
As you succeed, there will be a handful of people who will not be willing to support you. Success takes a tremendous amount of effort and sacrifice. The effort and time you need to put into your journey will not be tolerable to some who feel you owe them more of your time, effort or energy. The successful sacrifice an enormous amount to get to where they want to go, trusting that the people meant to travel their journey with them will accept and support the sacrifices which need to be made. You will likely lose relationships with those who do not passionately share in your vision. As you succeed your path will narrow; there are fewer people at the top.
4. People will discourage you.
There is a popular thought that you should keep your dreams close to your chest because if you share them you may pillage them to dream-stealers and naysayers. The human mind is programmed to believe the negative. Negative thoughts are extremely contagious and when you set out on the Road Less Traveled you will have an audience full of small-minded people trying to scare you and discourage you from chasing your dreams. These are the people who want to instill so much fear in you that you shrink. You have to make yourself immune to these influences when you set out on your quest for success. Work quietly and let your success do the talking.
5. You will be hated for no reason.
Reality is, people don’t tend to like other successful people. There is a jealousy that comes along with being different, standing out and humbly chasing your dreams. Small people hate those who have or do everything they lack. Dealing with jealousy can be difficult, especially if you want to maintain your relationships with certain people, or if they are a big part of your life. You may need to let them go. In reality there will always be a certain percentage of people who will not like you no matter who you are or what you do. Use these people and experiences as resiliency training, and reasons to fuel your drive. Success is always the greatest revenge. Learn to let your haters make you greater.
6. You will doubt yourself.
Nine times out of ten, when you start a new venture you will go in and out of feeling utterly paralyzed. It’s because you doubt yourself. Sometimes you may doubt your knowledge, decisions you have already made and you may doubt your instincts. All of this doubt creates an internal conflict over what you need to do to move forward. You doubt because you don’t want to make the wrong decisions and end up in an unrecoverable mistake. Keep in mind there are no unrecoverable mistakes, there are only new directions. You must push through your self-doubt and not allow it to partner up with delay. Doubt and delay, when paired, derail success. On your journey, trust there is no such thing as wrong. The only wrong choice is not making one. You will likely always feel some level of self-doubt, but you can choose not to doubt your choice to stretch yourself and grow. Doubts are an inevitable part of succeeding.The important thing is that you act in spite of them.
7. You will fail.
Risk taking is at the very heart of any quest for success. You must leap into the void of the unknown and see what happens. When striving for success you will consistently face choices which involve risk. Risk is, by nature, scary. You may lose your life savings or lose your reputation. You risk criticism and humiliation. You will likely have to pick up the pieces and start all over again, time and again. On any path towards success you give up what you know for what could be. Hope is your dope. The rewards can be great, but so can the cost. You will fail and you will have to rise. Each risk gone wrong is really a risk gone well because it leads you in a new direction to take a new risk. Failure helps cultivate the virtue of resiliency which you will need for your long-term success. Failure’s purpose is to fine-tune your efforts towards success.
8. It will all be worth it.
To achieve anything you have to think positive about what you are doing. You have to know that what you are doing is right. You have to believe that you will succeed, and you have to trust the process. When the right thoughts and actions are combined there is nothing you cannot achieve. With the right idea, attitude, and thoughts a struggle really is nothing but another essential component of your success. It all starts with you. When you fall in love with a great idea, fate will push you to follow that path. Your vision can impact the world, but you have to really want it. The vision is the prize, not the money or the end results. That is what you are really here for, isn’t it? To have an impact, to make a difference? You can only know your significance through the impact you have upon others. When you see that your success improves and positively influences the lives of others, it will all be worth it. I don’t believe “destination” to be a place. I believe destination is a feeling. It is the experience of what it feels like to deeply move, help, and contribute to the world at large. That type of destination makes the struggle of the journey well worth it.
- Sherrie Campbell
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When to kill (and when to recover) a failed project Admitting project failure is never easy, but sometimes the kill decision turns out to be the best decision. Here's how to know when to scrap and when to save a failing project. By John Edwards CIO | Sep 14, 2017 3:23 AM PT The project is behind schedule. The pilot has failed to meet expectations. Several key team members have already said good-bye. An important vendor has just discontinued an essential component.
The decisive moment has arrived. Is it time to kill the project or press forward in a new direction?
That's a simple question. An equally simple answer, however, can be elusive. As economist Paul Samuelson once remarked, "Good questions outrank easy answers." Alan Zucker, founding principal of Project Management Essentials, a project management consulting firm based in Arlington, Va., notes that a troubled project's fate can be resolved most easily and successfully when all of its participants work cooperatively. The problem is, of course, that failing projects tend to generate the same amount of team harmony as a street riot. The path to project failure
Zucker notes that internal conflicts often keep once-promising projects firmly directed toward failure despite multiple warning signs that the venture requires a major course correction. "It is very difficult for the project leaders and senior executives to review and analyze the state of a failing project without their own biases clouding the decision making process," he explains. Marketing or product development leaders may, for instance, claim that the project is still a great idea, but that engineering or IT has messed up the execution. Engineering and IT staff, meanwhile, may blame the vendors, the concept or various constraints placed on the project. "These discussions usually do not end in a successful outcome," Zucker observes.
Stubborn prejudices and misconceptions can also steer a once promising project into the express lane to disaster. "There is the ostrich bias, where we tend to ignore negative information, or the confirmation bias where we look for information that supports our point of view," Zucker says. "Then there is overconfidence bias, where we are too confident about our abilities."
Unrecoverable costs are yet another reason why many organizations become reluctant to reach a decision on a failing project's future. "The idea is that a significant cost has already been paid and one might as well make further attempts to succeed so that this initial cost is not all for naught," says Erik Gfesser, principal architect at technology consulting firm SPR Consulting. "The problem with this reasoning is that if the direction of the project is unchanged it will continue to fail, leading to even greater incurred costs." All too often, hubris plays a major role in postponing a go/no-go decision. "Organizations are so reluctant to kill doomed projects because the internal team — product owners and their bosses — will have a permanent scar associated with their name," observes Umair Aziz, chief Innovation and technology officer for Creative Chaos, a technology development consulting firm. "They were the champions behind the idea, and probably spent a decent amount of political capital to get the necessary budget and autonomy approvals."
Most projects that get into trouble are plagued by problems and oversights that existed at the very start of planning, says Todd Williams, a project failure consultant and the author of "Rescue the Problem Project, A Complete Guide to Managing, Preventing, and Recovering from Project Failure" (2010, AMACOM). Planners often overlook key issues, he notes. "It could be that there is one person who has done the project before who sees it as simple, [yet] he or she does not consider that the team doing the [current] project is different, and may not have the same experience as the team in the past." Recognizing high risk projects
Organizations embarking on a new project should realize that some types of ventures are more failure prone than others. "There is empirical research that indicates the types of projects that are likely to be successful — or fail," Zucker says.
Zucker says planners should be aware of thee basic project truths:
Small projects are significantly more successful than large ones Projects with engaged executives and stakeholders are more likely to succeed than ones with low engagement Agile projects are more likely to succeed than traditional waterfall projects
"The larger the project the more likely it will fail," Williams states. "Ten million dollar projects fail much more frequently than $100,000 projects — there are more moving parts." Williams notes that incremental deployment is generally a safer approach than undertaking a sweeping multifaceted project.
Michael Coakley, CIO of the City of White Plains, New York, and an adjunct computer science professor at Pace University, says that personal experience has shown him that customer relationship management (CRM) implementations tend to be the most risky projects. "Those systems are only as good as the data that goes into them and sales people and sales managers may not be so forthcoming with that information, fearing it takes away their competitive advantage," he observes.
Coakley observes that enterprise resource planning (ERP) initiatives are another potential minefield since, in most cases, both old and new systems will have concurrently during what might become a lengthy transition period. "That can put a lot of strain on all the players involved," he says. Why IT projects fail
A project's overall trajectory — and its likelihood of success or failure — is typically set on the day it starts. "Projects with clear objectives and strong executive engagement tend to be successful," Zucker says. "Projects with broad objectives, where the finish line is fuzzy, will struggle or fail." He points to the 2017 PMI Pulse of the Profession global management survey, which shows that strong executive involvement increases the likelihood of project success by 43 percent. "Yet only 60 percent of projects get that support," Zucker notes.
The warning signs that indicate a project is in trouble are classic and well known. "The problem is, we tend to discount or ignore these early warning signs—like we do the onset of a cold," Zucker says. A project that's falling behind schedule and continually failing to reach planned milestones is almost certainly in deep distress. "Digging in, you will often find that requirements have not been clearly defined or [the] technology is experiencing high defect rates," he explains.
Coakley notes that falling behind schedule frequently derails traditional waterfall projects. "One of the reasons the Agile approach is so popular now is that organizations feel they can avoid those types of problems via the daily scrum, where issues are brought up to the project team on a daily basis and plans to mitigate those issues are implemented swiftly," he says.
In many cases, a compromised schedule launches the project into an unrecoverable death spiral. "I've never seen a project that was significantly behind [schedule] ever get back on track, but partial success can be met by scaling back the original scope or moving in a different direction than was originally planned," Gfesser says. "Both avenues of which are enabled by Agile methodologies." Is project recovery possible? 5 key questions
1. Have there been any internal or external changes that could be hurting the project?
Recent business, market or technology developments may be adversely affecting the project's framework and goals. The plan may need to be redesigned to accommodate these changes.
2. Should we reduce our goals to a more realistic level?
Initial overly optimistic projections may have to be scaled back to reflect real world conditions.
3. Is our current project team working together as effectively as possible?
Team dissention may be pulling the project down. Now is the time to either resolve these problems or to shake up the team by adding and/or losing members.
4. Why are we falling behind schedule and is there anything we can do about it?
A period of introspection and revised planning can help get a lagging project back on track.
5. Who can we call in to help us?
A project outsider might be able to detect problems that team members are too involved to see. When and how to kill a failed project
Projects can occasionally be rescued by seeking an outside perspective provided by a knowledgeable individual with no personal stake in the project's success or failure. "Some failing projects create massive amounts of acrimony between departments," Coakley says. "Somebody who can be deemed as relatively impartial may be able to offer some fresh perspectives that might be able to identify some issues the in-house players are blind to."
Yet, there eventually comes a time when all the effort an organization can muster can't save what has become a doomed project. That's the day when management and project team members finally agree that pulling the plug is the only logical way of ending the mess.
"The kill decision ... needs to be done by the executive sponsor," Williams says. Some organizations hand the task over to a steering committee, an auditor or even the CIO, but Williams believes that these parties generally lack the accountability and authority necessary to make such an important decision. "The executive sponsor is the only person who can fit those requirements," he says.
Actually shutting down a project is like ripping off an adhesive bandage. "Slowly pulling off the Band-Aid does not make it better, it just prolongs the pain," Zucker says. "It is better to get people to new assignments rather than letting them languish." Learning from IT project failures
The school of hard knocks is renowned for its punishing coursework, yet CIOs and other IT leaders can take heart in the fact that failed projects often generate hard-earned lessons that can be used to help prevent future fiascos. "Failure is not necessarily a bad thing, because it can lead to a more successful project by understanding what doesn't work," Gfesser explains.
"The key is to identify the weak areas, vet why they were problematic, and work on ways to avoid them the next time," Coakley says.
"Small, quick failures should be acceptable," Zucker concludes. "But, when we have huge catastrophic failures it is because we have organizational and cultural issues that prevent us from recognizing, or hearing, what is actually happening on our projects." #ITPro #SoftwareDeveloper #ILoveBusiness #Leadership #Management
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Ways To Create An Efficient And Successful Real Estate Business
A single owner building a successful and lucrative real estate business from the ground up is undoubtedly an impressive accomplishment. Choosing tools to increase your market share can also be quite a challenge. Look at what your most successful competitors are doing to market their products and services. Increase your real estate business by implementing the following general rules we've put together for you.
The best experience you can get with real estate business is real world working experience. If you want to learn the ropes, you may need to work in that industry before starting you own real estate business. You can make use of the knowledge you picked up on the job when you own your real estate company. Even though you can pick up some interesting tips and hints from real estate business books, the foundation of your career in real estate business is built by skills you learn through personal work experience.
Be cautious when you hire someone new to start working at your real estate business. The new candidate being considered ought to be well-versed in all of the duties expected to be performed and have all prerequisites for the job. When new employees are hired into your real estate agency, it becomes your responsibility to be sure that they have received their full training in order to guarantee that they'll have no problems when it comes to finishing the assignments given to them. Happy employees are motivated and can make a real estate business successful and can stimulate growth.
You will need to develop a customer base if you want to win with your real estate business. Employees will as a rule be fulfilled and stay faithful to the real estate agency for quite a very long time to come when it has been passed down from era to era. A single negative review online can damage your real estate company's reputation a lot more than you think. Always address negative customer reviews you may receive and see how you could improve on the situation, possibly with the assistance of a professional reputation management service.
A real estate business is likely to fail if the owner persists in making snap decisions without taking the time to complete a thorough risk analysis. It can be seriously devastating to even the very best managed real estate business to take huge risks. The bigger the risk is, the more likely it's that your real estate business will suffer unrecoverable losses if things do not go your way. Conduct a risk analysis each and every time you are dealing with difficult real estate business decisions; it'll help you protect your real estate company's assets.
Despite this being your first time, or fiftieth time to start a new real estate company, the process is rarely simple. Attempt to learn as much as you can about your industry before you invest too much in that realm. It will be possible to create a lucrative real estate business as long as you carefully plan things out and have the right foundation laid out. The web has endless amounts of resources that you should take advantage of.
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Recommendations To Start And Create A Real Estate Business
The determining factor behind any real estate business' success is a well-designed marketing strategy for the future. When you don't have a workable marketing strategy, trying to boom your real estate business won't work. Heed the following advice to help you plan and launch a successful real estate business.
If you are the owner or a staff, you should still always interact with a positive outlook when engaging the public. Feeling relaxed and appreciated are things your customers should always feel. A very important point of focus in training employees is coaching on how to they'll interact with customers. Happy customers become repeat customers, and they tell their friends to frequent your real estate business.
Move forward with caution when you employee new employees into your real estate business. Before you employee someone, take a look at how they performed tasks in the past and if they've any specialties that set them apart at your real estate business. It's your responsibility to ensure that the new hire gets the training they need to do a great job at your real estate company. Remember, the most successful businesses are formed because employees are working hard and are happy with their overall job.
When risks are taken without the needed research, a real estate business may fail. When it comes to taking big risks, even businesses that have the very best management can be seriously impaired. The bigger the risk is, the more likely it's that your real estate business will suffer unrecoverable losses if things don't go your way. Making risk assessment an integral part of the decision-making process can keep your real estate business from suffering unanticipated financial losses.
Brainstorming tips with your staff can ease the strain of making harder real estate business decisions. One way to definitely ease planning activities is to create a list of pros and cons. Listing pros and cons is a deceptively simple technique that many people find lends great clarity to their thinking. Schedule a meeting with real estate business professionals whenever you realize that you are not positive about future real estate business decisions.
In order to manage a real estate business, you have to be dedicated to devoting enough hours of your life to actually managing it as it constantly takes more time than you would at first expect. In order to own and manage a successful real estate business, you have to be willing to put in a significant amount of personal time, effort, and attention. One major mistake new real estate company owners make is doing many things at once. As a smart real estate business owner, you should delegate some of your responsibilities when things start becoming overwhelming.
Having effective real estate business plans is the most practicable method to grow a successful real estate company. Creating a detailed and extensive real estate business plan with a list of small goals will probably be the key to growing your real estate business. Your goals also ought to be specific, because vague ones will just make your plan unfocused and unclear. Ensure your goals are achievable; achieving one large goal is considerably more stressful than several smaller ones.
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Real Estate Business Marketing Is Easy Once You Follow These Tips
Think about starting your own real estate consulting company if you'd like to support yourself and become your own boss doing what you love. Your hobby or perhaps a leisure activity can be turned into a business; all you need is strong willpower and determination. In addition, you need to have a well-developed real estate services business strategy in order to succeed. To get your new business off the ground, check out some of the great suggestions below in buying a home in Pasadena CA.
If it is your first real estate services business or you have already been down the road before, beginning another real estate and management is constantly troublesome. Before bouncing straight into another endeavor, ensure that you comprehend as much as you could about the field you've picked and the opposition. Meticulously planning and laying a proper foundation is essential when building a prosperous business. You will be smart to choose to use resources you could find online.
Avoid exposing your real estate consulting company to financial disasters by analyzing any possible risks prior to making a major real estate services business decision. Despite a company's management or success, a substantial risk that doesn't pan out can seriously damage that business. The bigger the risk is, the more likely it's that your company will suffer unrecoverable losses if things don't go your way. When you carry out a meticulous risk analysis before every major decision you face, you're protecting your company's assets and its financial future.
Devoted customers are at the heart of any profitable real estate services business. Real estate and managements that have been gone down through a few eras regularly have extremely fulfilled representatives that may stay with the real estate and management for quite a while. A single negative review online can damage your real estate consulting company's reputation a lot more than you think. In the event that you have gotten some negative review, it's insightful to employ an expert notoriety administration to redress the circumstance and redirect any harm that may have been brought about.
You need to stay focused on your real estate services business if you want to have success with it. Although you could be tired and ready for a break, the best time to focus on expanding your business even further is when you're showing some signs of success. You need to keep up your levels of commitment and focus to really ensure success. You ought to be agile during tough times and constantly be seeking to improve.
Outstanding customer service inevitably leads to repeat real estate services business. The old saying "if it isn't broken, don't fix it" offers great advice; in case you have a high customer retention rate, you are doing something right and should resist making a lot of changes. The secret to retaining your loyal customer base is making sure that each new service you roll out is equal in quality to all of the ones your customers already love. Superior service combined with excellent products are certainly the secrets to success in almost any industry.
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+++ Best Forex Signal : Risks of a Martingale Strategy
Best Forex Signal -
A Martingale forex strategy offers a risky way for traders to bet that that long-term statistics will revert to their means. Forex traders use Martingale cost-averaging strategies to average-down in losing trades. These strategies are risky and long-run benefits are non-existant.
Here’s why Martingale strategies are attractive to forex traders:
First, under ideal conditions and including positive carry, Martingale strategies offer what appears to be a predictable profit outcome and a “sure bet” on eventual wins.
https://www.youtube.com/watch?v=cfZ0QHcvYGo
Second, Martingale forex strategies don’t rely on any predictive ability. The gains from these strategies are based on mathematical probabilities over time, instead of relying on skillful forex traders using their own underlying knowledge and experience in particular markets. Novice traders like Martingale strategies because they can work even when the trader’s “trade-picking” skills are no better than pure chance.
Third, currency pairs tend to trade in ranges over fairly long periods of time, so the same price levels are often revisited many times. As with “grid trading,” there are usually multiple entry and exit possibilities in the trading range.
It’s important to understand from the beginning that a Martingale forex strategy doesn’t improve the chances of winning a given trade, and its major benefit is that it delays losses. The hope is that losing trades can be held until they become profitable again.
Martingale strategies are based on cost-averaging. The strategy means doubling the trade size after every loser until a single winning trade occurs. At that point, because of the mathematical power of doubling, the trader hopes to exit the position with a profit.
And by “doubling” the exposure on losing trades, the average entry price is lowered across all entry points.
A simple example of win-lose
The below table shows how a Martingale strategy works with a simple trading game, in which each round has a 50% chance of winning and a 50% chance of losing.
Stake Outcome Profit/Loss Current Balance
$100 Won $100 $100 $100 Won $100 $200 $100 Lost -$100 $100 $200 Lost -$200 -$100 $400 Lost -$400 -$500 $800 Won $800 $300
In this simple example, the forex trader takes a position size worth a standard $100 in account equity. With each winning trade in that same currency pair, the subsequent position size is kept at the same $100.
If the trade is a loser, the trade size is doubled for each successive loser. This is referred to as “doubling down.” If the forex trader is lucky, within a few trades he or she will enjoy a winner.
When the Martingale forex strategy wins, it wins enough to recover all previous losses including the original trade amount, plus additional gains.
In fact, a winning trade always results in a net profit. This occurs because:
2n = ∑ 2n-1 +1
Where n is the number of trades. So, the drawdown from any number of consecutive losses is recovered by the next successful trade, assuming the trader is capitalized well enough to continue doubling each trade until achieving a winner.
The main risk of Martingale strategies is the possibility that the trading account may run out of money through drawdown before a winning trade occurs.
A basic Martingale forex trading system
In real forex trading, there usually isn’t a rigid binary outcome – A trade can close with a variable amount of profit or loss. Still, the Martingale strategy remains the same. The trader simply defines a certain number of pips as the profit target, and a certain number of pips as the stop-loss threshold.
In the following recent EUR/USD example showing averaging-down in a falling market, with both profit target and stop loss levels set at 20 pips.
Rate Order Lots Entry Average Entry Absolute drop Break Even Balance
1.3500 Buy 1 1.3500 1.3500 0.0 0.00 $0 1.3480 Buy 2 1.3480 1.3490 -20.0 10.00 -$2 1.3460 Buy 4 1.3460 1.3475 -40.0 15.00 -$6 1.3440 Buy 8 1.3440 1.3458 -60.0 17.50 -$14 1.3420 Buy 16 1.3420 1.3439 -80.0 18.75 -$30 1.3439 Sell 16 1.3439 1.3439 -61.2 0.00 $0
First, the trader buys 1 lot at a price of 1.3500. The price then moves against the trader, down to 1.3480 which triggers the stop loss.
The trading system accounts 1.3480 as a “theoretical” stop loss, yet it doesn’t liquidate the position. Instead, the system opens a new trade for twice the size of the existing position.
So, the second line of the table above shows one more lot added to the position. This allows an average entry price of 1.3490 for the two lots.
It’s important to note that the unrealized loss is the same, yet now the trader needs a retracement of only 10 pips in order to break even, not the 20 pips envisioned by a loss following the first trade.
“Averaging down” by doubling the trade size reduces the relative amount needed to recover the unrealized losses. By averaging down with even more trades, the break-even value approaches a constant level which comes ever closer to the designated stop-loss level.
Continuing the above example, at the fifth trade the average entry price is 1.3439 so when the price moves upward through that point, the overall averaged holdings reach the break-even level.
In this example, the first four trades were losses, but all were covered by the profit on the fifth trade. A mechanical forex trading system can close out this group of trades at or above the break-even level. Or, the system can hold the currency pair for greater gains.
When a Martingale strategy works successfully, the trader can recover all losses with a single winner. Still, there is always a major risk that the trader may suffer an unrecoverable drawdown while awaiting a winner.
Caveats about the Martingale forex strategy
From a mathematical and theoretical viewpoint, a Martingale forex trading strategy should work, because no long-term sequence of trades will ever lose.
Still, in the real world the perfect Martingale strategy would require unlimited capitalization, since the trader may face a very long string of losses before achieving a single winner. Few traders could withstand the required drawdown.
If there are too many consecutive losing trades, the trade sequence must be closed at a loss before starting the cycle again. Only by keeping the initial position size very small in proportion to the account equity could the trader have any chance for survival.
Ironically, the higher the total drawdown limit, the lower the probability of losing in a trade sequence, yet the bigger that loss will be if or when it occurs. This phenomenon is called a “Taleb distribution.” The more trades, the more likely that a long string of losses will arise.
This issue occurs because during a sequence of losing trades with a Martingale system the risk exposure increases exponentially. In a sequence of n losing trades, the trader’s exposure increases as 2n-1.
So, if the trader is forced to exit a trade sequence prematurely, the losses are very large. On the other hand, the profit from a Martingale forex trade only increases in a linear way. It is proportional to half of the average profit per trade, multiplied by the number of trades.
Regardless of the underlying trading rules used to choose currency pairs and entry points, if the trader is only right 50% of the time (the same as random chance) then the total expected gains from winning trades would be:
Profit ≈ (½ n) x G
When n is the total number of trades and G is the amount of profit on each trade.
However, a single big losing trade will reset this amount to zero. Continuing the example above, if the trader sets a limit of 10 double-down trades, the biggest trade lot size would be 1024. The maximum amount would only be lost if there were 11 losing trades in a row.
According to the above equation, the probability of this occurrence is (½)11. In other words, the trader would expect to lose the maximum amount once every 2048 trades.
After 2048 forex trades:
• Expected gains are (½) x 211 x 1 = 1024
• Expected worst single loss is -1024
• Expected net profit is 0
Assuming the trader’s trade-choosing strategy is no better than simple chance, the Martingale system always offers at least a 50-50 chance of success.
Again, Martingale doesn’t improve the chances of winning a trade, it simply postpones losses or helps the trader potentially avoid losses by staying in the positions long enough. It is risky, and very few traders have been successful with Martingale strategies in the long run.
Martingale forex strategies only work when currency prices are trading in a range
Some trend-following traders use a “reverse Martingale” strategy that involves doubling winning trades, and cutting losses quickly. However, Martingale strategies tend to suffer during trending markets. The only opportunities come from range-trading instead of trend-following.
The challenge is to choose currency pairs with positive carry which are range-bound instead of trending. And, the trading system should be programmed to unwind positions when steep corrections occur.
Martingale forex strategy can enhance yield
One occasional use of Martingale forex strategies is to enhance yield. Some traders use Martingale strategies with positive-carry forex trades of currency pairs with large interest-rate differentials. That way, positive credits accumulate during the open trades.
By limiting drawdown to 5% of the account equity, some traders achieve 0.5 to 0.7% monthly return by using Martingale strategies when EUR/CHF and EUR/GBP are trading in tight ranges over fairly long periods of time.
The trader must keep a watchful eye for the risks that can result when forex prices break out into new trends, especially around support and resistance levels. Again, Martingale only works with range-bound currency pairs, not trending ones.
How to calculate the drawdown limit for a Martingale forex strategy
For traders willing to risk a Martingale forex strategy, the first thing to decide is the position size and risk. To keep this example simple, let’s use powers of 2.
The number of lots traded will determine the number of double-down trade legs that can be placed. For example, if the maximum is 256 lots, this allows 8 double-down legs.
Maximum lots that can be traded = 2number of legs
If the final trade in a sequence is closed when its stop-loss point is reached, then the maximum drawdown will be:
Drawdown < Maximum number of lots x (2 x stop-loss) x lot size
So, with 256 micro lots, and a stop-loss set at 40 pips, the maximum drawdown would be $2048.
To determine the average number of trades that the system can sustain before a loss, use the calculation:
2number of legs + 1
In the current example, that number is 29, or a total of 512 trades. After those 512, the trader would expect to suffer 9 consecutive losing trades.
With a Martingale forex strategy the only survivable way to manage drawdowns is to use a “ratchet” system: As profits are earned, the size of the trading lots and drawdown limits are both increased incrementally.
Trade sequence Equity realized Drawdown allowed Profit
1 $1,000 $1,000 $25 2 $1,025 $1,025 $5 3 $1,030 $1,030 -$10 4 $1,020 $1,020 $5 5 $1,025 $1,025 $20
This ratcheting adjustment should be handled automatically by the mechanical trading system, once the trader sets the drawdown limit as a percentage of the equity realized.
Entry
For entry signals in a Martingale forex strategy, traders sometimes “fade” or trade the false break-outs from the range. For example, when the currency pair’s price moves a certain number of pips above the 15-day moving average (MA), the system places a sell order.
When using this method, it’s important to act only on signals that indicate a high probability that the price will retrace back into the original range instead of breaking out.
Profit targets and stop-losses
It’s also important to set the profit targets and stop-loss points appropriately. On the one hand, if the values used are too small the system will open too many trades. On the other hand, if the values are too large then the system may not be able to sustain enough successive losses to survive.
With Martingale strategies, only the last stop-loss point is actually traded. All the previous stop-loss levels are “theoretical” points since the trades aren’t actually liquidated there, and in fact a new trade with double position size is added at each of those points.
Martingale trades must be consistently treated as a set, not individually. Forex trades using a Martingale strategy should only be closed out when the overall sequence of trades is profitable, that is, when there is a net profit on the open trades.
The Martingale trader hopes that a winning trade will be achieved before the drawdown from successive doubled losses drains the trading account.
The choice of profit targets and stop-loss points also depends on the trading time frame and the market’s volatility. In general, lower volatility means the system can use a small stop-loss value.
Some traders set a profit target of somewhere between 10 to 50 pips and a stop-loss value between 20 to 70 pips. There are several reasons for this.
A small profit target has a greater probability of being achieved sooner, so the trade can be closed while profitable. And, since the profits are compounded due to the exponential increase in position size, a small profit-target value may still be effective.
Using a small profit target doesn’t change the risk-reward ratio. Even though gains are small, the nearer threshold for gaining improves the overall ratio of winning to losing trades.
The benefits and disadvantages of a Martingale forex strategy
A Martingale forex trading strategy offers very limited benefits, such as trading rules that are easy to define and program into an Expert Advisor or other mechanical trading system. And, the outcomes regarding profits and drawdowns appear statistically predictable. As well, Martingale strategies don’t rely on a trader’s ability to predict market direction or choose winning trades.
However, Martingale forex strategies are invariably losers in the long run. They simply postpone or avoid losses instead of creating standalone profits.
And, unless the losses are managed carefully by adjusting the position sizes and drawdown limits when profits are earned, a Martingale strategy may run out of money during a particularly harsh drawdown. This can happen because exposure to risk increases exponentially, yet the profits only increase in a linearly.
In summary, Martingale forex strategies may be helpful when used during limited periods in trading ranges by experienced traders who focus on positive-carry currency pairs. Yet, the risks are overwhelmingly negative.
Have you ever tried a Martingale “double down” strategy in your own forex trading?
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Innovative Ways To Create And Operate A Flourishing Property Buying Business
Economic woes can be challenging to manage, but smart property buying consulting business owners will prepare for them in advance. Flourishing companies succeed due to the owner's passion for the work, as well as a desire to lead a reputable business in his or her industry. Read through our publication to find more tips for implementing new techniques around local San Diego real estate buyers for cash into your marketing strategy.
In order to succeed in the property buying consulting business world, you will need to accumulate a lot of personal work experience. Most experts say that you'll best learn how to manage a business by actually doing it. It can help you to take care of your own fruitful business to have at work experience and comprehension. Certain skills can definitely be acquired through reading specialty books, but others can only be acquired through practical learning.
Draw up a set of goals that, while detailed and precise, can evolve as your property buying consulting business grows; they certainly are a critical part of your business plan. Developing a clear business plan and establishing a set of realistic goals is critical when outlining a framework for a successful property buying company. Goals that are detailed allow you to plan ahead for the ultimate success of your business. It's vital to have a series of goals that are realistic and attainable rather than one overarching goal that can seem so tricky to achieve that people get discouraged and discouraged.
Many customers rely on the feedback and ratings of popular review websites before visiting a property buying consulting business. Positive ratings and stellar reviews from your very best customers are invaluable. As the reviews trickle in, emphasize those that provide exceptional support for your property buying company. Offer incentives like discounts or exclusive promotions for customers who write online reviews of your business.
Keep creating new goals regularly to effectively ensure success. You need to be supremely confident in your property buying company's ability to thrive to operate a profitable property buying consulting business. You cannot realize your dreams if you're not challenging yourself to newer and better heights. Individuals shouldn't open a business if they don't plan to dedicate the right amount of time and effort to making it a success.
It is common for a property buying consulting business to fail when big risks are taken without some very careful risk analysis. Bad investments, particularly large ones, can hurt even the best of businesses. The bigger the risk is, the more likely it's that your business will suffer unrecoverable losses if things don't go your way. You could maintain a lucrative property buying company by holding a careful risk assessment every time you're face to face with an important decision.
Your property buying company isn't likely to become successful immediately. The essential ingredients to realize success are hard work and commitment. While experiencing that first calm period that a ton of agencys experience, stay concentrated on your primary targets and be understanding. If the owner of a company stops trying to market and expand it, in the majority of cases, the property buying consulting business will fold.
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Effective Marketing To Get The Most Out Of Your Search Engine Marketing Business
If you'd like to make a living by doing what you enjoy the most, think about starting your own search engine marketing services company. Rethink your hobbies and leisure activities to find a passion that can be turned into a SEO services business. Before looking for clients or customers, make sure that you have made a solid strategy for success. To get your new business off the ground, check out some of the useful suggestions below.
Ensure you are careful when you have someone new start working with you. In addition to making sure that potential employees understand what the job involves and have the right skill sets, check to find out if they have any necessary certifications. All new hires should receive optimal training to effectively ensure they can be the very best of the very best right out of the gate. Happy employees are motivated and can make a SEO services business successful and can stimulate growth.
Repeat customers are almost always due to a combination of good products and excellent customer service. People do not like change; if your SEO services business alters too many things, loyal customers will become frustrated and shop elsewhere. By setting and sticking to high standards of customer service, you can be sure that when you bring on new products/services, your customers will keep coming. The very best businesses in your industry often stand out from the rest because they have both excellent products and fantastic customer service.
Avoid legal issues by learning the requirements before you get started. Hiring a SEO services business law attorney is definitely an acceptable option if you do not have knowledge of it yourself - they can help you go over all of the formalities and paperwork surrounding opening a business. Going to court will cost you a lot more than consulting with a legal representative to start. Should you ever come face to face with a legal issue, building a sturdy relationship with a good business attorney can help you immensely.
Keep your SEO services business moving forward by establishing goals that stretch your abilities, and be sure to review and revise them on a predetermined schedule. Believing in the business yourself can help ensure its success. Setting your goals progressively higher is an excellent way to reach for your wildest dreams. If you are not willing to give your all to the development of your search engine marketing services company and to establish significant milestones for its growth, you shouldn't be in business.
When risks are taken without the benefit of a careful risk analysis, one of the things that can happen is SEO services business failure. Unanticipated risks can do real damage to even the best managed search engine marketing services company. The bigger the risk is, the more likely it is that your company will suffer unrecoverable losses if things don't go your way. Making it your practice to assess the risks in advance of each and every major business decision may help ensure your company's continued profitability.
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Six Tools Used by Hackers to Steal Cryptocurrency: How to Protect Wallets
In the early July, it was reported that Bleeping Computer detected suspicious activity targeted at defrauding 2.3 million Bitcoin wallets, which they found to be under threat of being hacked. The attackers used malware — known as “clipboard hijackers” — which operates in the clipboard and can potentially replace the copied wallet address with one of the attackers.
The threat of hacking attacks of this type has been predicted by Kaspersky Lab as early as November of last year, and they did not take long to become reality. For the time being, this is one of the most widespread types of attacks that is aimed at stealing users’ information or money, with the overall estimated share of attacks to individual accounts and wallets being about 20 percent of the total number of malware attacks. And there’s more. On July 12, Cointelegraph published Kaspersky Lab’s report, which stated that criminals were able to steal more than $9 million in Ethereum (ETH) through social engineering schemes over the past year.
Image source: Carbon Black
Briefly about the problem
The already mentioned Bleeping Computer portal, which works on improving computer literacy, writes about the importance of following at least some basic rules in order to ensure a sufficient level of protection:
“Most technical support problems lie not with the computer, but with the fact that the user does not know the ‘basic concepts’ that underlie all issues of computing. These concepts include hardware, files and folders, operating systems, internet and applications.”
The same point of view is shared by many cryptocurrency experts. One of them, Ouriel Ohayon — an investor and entrepreneur — places the emphasis on the personal responsibility of users in a dedicated Hackernoon blog:
“Yes, you are in control of your own assets, but the price to pay is that you are in charge of your own security. And since most people are not security experts, they are very much often exposed — without knowing. I am always amazed to see around me how many people, even tech savvy ones, don’t take basic security measures.”
According to Lex Sokolin — the fintech strategy director at Autonomous Research — every year, thousands of people become victims of cloned sites and ordinary phishing, voluntarily sending fraudsters $200 million in cryptocurrency, which is never returned.
What could that tell us? Hackers that are attacking crypto wallets use the main vulnerability in the system — human inattention and arrogance. Let’s see how they do it, and how one can protect their funds.
250 million potential victims
A study conducted by the American company Foley & Lardner showed that 71 percent of large cryptocurrency traders and investors attribute theft of cryptocurrency to the strongest risk that negatively affects the market. 31 percent of respondents rate the hackers’ activity threat to the global cryptocurrency industry as very high.
Image source: Foley & Lardner
Experts from Hackernoon analyzed the data about hacking attacks for 2017, which can be conditionally divided into three large segments:
– Attacks on the blockchains, cryptocurrency exchanges and ICOs;
– Distribution of software for hidden mining;
– Attacks directed at users’ wallets.
Surprisingly, the article “Smart hacking tricks” that was published by Hackernoon didn’t appear to get wide popularity and warnings that seem to be obvious for an ordinary cryptocurrency user must be repeated again and again, as the number of cryptocurrency holders is expected to reach 200 million by 2024, according to RT.
According to research conducted by ING Bank NV and Ipsos — which did not consider East Asia in the study — about nine percent of Europeans and eight percent of U.S. residents own cryptocurrencies, with 25 percent of the population planning to buy digital assets in the near future. Thus, almost a quarter of a billion potential victims could soon fall into the field of hacking activity.
Apps on Google Play and the App Store
Tips e – Don’t get carried away with installing mobile applications without much need; -Add Two Factor Authorization-identification to all applications on the smartphone; -Be sure to check the links to applications on the official site of the project.
Victims of hacking are most often smartphone owners with Android operating system, which does not use Two Factor Authentication (2FA) — this requires not only a password and username, but also something that user has on them, i.e., a piece of information only they could know or have on hand immediately, such as a physical token. The thing is that Google Android’s open operating system makes it more open to viruses, and therefore less safe than the iPhone, according to Forbes. Hackers add applications on behalf of certain cryptocurrency resources to the Google Play Store. When the application is launched, the user enters sensitive data to access their accounts and thereby gives hackers access to it.
One of the most famous targets of a hacking attacks of this type were traders of the American cryptocurrency exchange Poloniex, which downloaded mobile applications posted by hackers on Google Play, pretending to be a mobile gateway for the popular crypto exchange. The Poloniex team didn’t develop applications for Android, and its site doesn’t have links to any mobile apps. According to Lukas Stefanko, a malware analyst at ESET, 5,500 traders had been affected by the malware before the software was removed from Google Play.
Users of iOS devices, in turn, more often download App Store applications with hidden miners. Apple was even forced to tighten the rules for admission of applications to its store in order to somehow suspend the distribution of such software. But this is a completely different story, the damage from which is incomparable with the hacking of wallets, since the miner only slows down the computer operation.
Bots in Slack
Tips: -Report Slack-bots to block them; -Ignore bots’ activity; -Protect the Slack-channel, for example, with Metacert or Webroot security bots, Avira antivirus software or even built-in Google Safe Browsing.
Since mid-2017, Slack bots aimed at stealing cryptocurrencies have become the scourge of the fastest-growing corporate messenger. More often, hackers create a bot that notifies users about problems with their cryptos. The goal is to force a person to click the link and enter a private key. With the same speed with which such bots appear, they are blocked by users. Even though the community usually reacts quickly and the hacker has to retire, the latter manages to make some money.
Image source: Steemit @sassal
The largest successful attack by hackers through Slack is considered to be the Enigma group hack. The attackers used Enigma’s name — which was hosting its presale round — to launch a Slack bot, and ended up defrauding a total of $500,000 in Ethereum from credulous users.
Add-ons for crypto trading
Tips -Use a separate browser for operations with cryptocurrencies; -Select an incognito mode; -Do not download any crypto add-ons; -Get a separate PC or smartphone just for crypto trading; -Download an antivirus and install network protection.
Internet browsers offer extensions to customize the user interface for more comfortable work with exchanges and wallets. And the issue is not even that add-ons read everything that you are typing while using the internet, but that extensions are developed on JavaScript, which makes them extremely vulnerable to hacking attacks. The reason is that, in recent times — with the popularity of Web 2.0, Ajax and rich internet applications — JavaScript and its attendant vulnerabilities have become highly prevalent in organizations, especially Indian ones. In addition, many extensions could be used for hidden mining, due to the user’s computing resources.
Authentication by SMS
Tips: -Turn off call forwarding to make an attacker’s access to your data impossible; -Give up 2FA via SMS when the password is sent in the text, and use a two-factor identification software solution.
Many users choose to use mobile authentication because they are used to doing it, and the smartphone is always on hand. Positive Technologies, a company that specializes in cybersecurity, has demonstrated how easy it is to intercept an SMS with a password confirmation, transmitted practically worldwide by the Signaling System 7 (SS7) protocol. Specialists were able to hijack the text messages using their own research tool, which exploits weaknesses in the cellular network to intercept text messages in transit. A demonstration was carried out using the example of Coinbase accounts, which shocked the users of the exchange. At a glance, this looks like a Coinbase vulnerability, but the real weakness is in the cellular system itself, Positive Technologies stated. This proved that any system can be accessed directly via SMS, even if 2FA is used.
Public Wi-Fi
Tips: -Never perform crypto transactions through public Wi-Fi, even if you are using a VPN; -Regularly update the firmware of your own router, as hardware manufacturers are constantly releasing updates aimed at protecting against key substitution.
Back in October last year, in the Wi-Fi Protected Access (WPA) protocol — which uses routers — an unrecoverable vulnerability was found. After carrying out an elementary KRACK attack (an attack with the reinstallation of the key) the user’s device reconnects to the same Wi-Fi network of hackers. All the information downloaded or sent through the network by a user is available to attackers, including the private keys from crypto wallets. This problem is especially urgent for public Wi-Fi networks at railway stations, airports, hotels and places where large groups of people visit.
Sites-clones and phishing
Tips: -Never interact with cryptocurrency-related sites without HTPPS protocol; -When using Chrome, customize the extension — for example, Cryptonite — which shows the addresses of submenus; -When receiving messages from any cryptocurrency-related resources, copy the link to the browser address field and compare it to the address of the original site; -If something seems suspicious, close the window and delete the letter from your inbox.
These good old hacking methods have been known since the “dotcom revolution,” but it seems that they are still working. In the first case, attackers create full copies of the original sites on domains that are off by just one letter. The goal of such a trick — including the substitution of the address in the browser address field — is to lure a user to the site-clone and force them to enter the account’s password or a secret key. In the second case, they send an email that — by design — identically copies the letters of the official project, but — in fact — aims to force you to click the link and enter your personal data. According to Chainalysis, scammers using this method have already stolen $225 million in cryptocurrency.
Cryptojacking, hidden mining and common sense
The good news is that hackers are gradually losing interest in brutal attacks on wallets because of the growing opposition of cryptocurrency services and the increasing level of literacy of users themselves. The focus of hackers is now on hidden mining.
According to McAfee Labs, in the first quarter of 2018, 2.9 million samples of virus software for hidden mining were registered worldwide. This is up by 625 percent more than in the last quarter of 2017. The method is called “cryptojacking” and it has fascinated hackers with its simplicity in such away that they massively took up its implementation, abandoning the traditional extortion programs.
The bad news is that the activity of hacking has not decrease in the least bit. Experts of the company Carbon Black — which works with cybersecurity — revealed that, as of July 2018, there are approximately 12,000 trading platforms on the dark web selling about 34,000 offers for hackers. The average price for malicious attack software sold on such a platform is about $224.
Picture source: Carbon Black
But how does it get on our computers? Let’s return to the news with which we started. On June 27, users began leaving comments on Malwarebytes forum about a program called All-Radio 4.27 Portable that was being unknowingly installed on their devices. The situation was complicated by the impossibility of its removal. Though, in its original form, this software seems to be an innocuous and popular content viewer, its version was modified by hackers to be a whole “suitcase” of unpleasant surprises.
Of course, the package contains a hidden miner, but it only slows down the computer. As for the program for monitoring the clipboard, that replaces the addresses when the user copies and pastes the password, and it has been collecting 2,343,286 Bitcoin wallets of potential victims. This is the first time when hackers demonstrated such a huge database of cryptocurrency owners — so far, such programs have contained a very limited set of addresses for substitution.
After replacing the data, the user voluntarily transfers funds to the attacker’s wallet address. The only way to protect the funds against this is by double-checking the entered address when visiting the website, which is not very pleasant, but reliable and could become a useful habit.
After questioning of victims of All-Radio 4.27 Portable, it was discovered that malicious software got on their computers as a result of unreasonable actions. As the experts from Malwarebytes and Bleeping Computer found out, people used cracks of licensed programs and games, as well as Windows activators like KMSpico, for example. Thus, hackers have chosen as victims those who consciously violated copyright and security rules.
Well-known expert on Mac malware Patrick Wardle often writes in his blog that many viruses addressed to ordinary users are infinitely stupid. It’s equally silly to become a victim of such hacking attacks. Therefore, in conclusion, we’d like to remind you of the advice from Bryan Wallace, Google Small Business Advisor:
“Encryption, anti-virus software, and multi-factor identification will only keep your assets safe to a point; they key is preventive measures and simple common sense.”
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