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Malware and HTTPS a growing love affair – Naked Security

If youre a regular Naked Security reader, youll know that weve been fans of HTTPS for years.

In fact, its nearly nine years since we published an open letter to Facebook urging the social networking giant to adopt HTTPS everywhere.

HTTPS is short for HTTP-with-Security, and it means that your browser, which uses HTTP (hypertext transport prototol) for fetching web pages, doesnt simply hook up directly to a web server to exchange data.

Instead, the HTTP information that flows between your browser and the server is wrapped inside a data stream that is encrypted using TLS, which stands for Transport Layer Security.

In other words, your browser first sets up a secure connection to-and-from the server, and only then starts sending requests and receiving replies inside this secure data tunnel.

As a result, anyone in a position to snoop on your connection another user in the coffee shop, for example, or the Wi-Fi router in the coffee shop, or the ISP that the coffee shop is connected to, or indeed almost anyone in the network path between you and the other end just sees shredded cabbage instead of the information youre sending and receiving.

But why HTTPS everywhere?

Nine years ago, Facebook was already using HTTPS at the point where you logged in, thus keeping your username and password unsnoopable, and so were many other online services.

The theory was that it would be too slow to encrypt everything, because HTTPS adds a layer of encryption and decryption at each end, and therefore just encrypting the important stuff would be good enough.

We disagreed.

Even if you didnt have an account on the service you were visiting, and therefore never needed to login, eavesdroppers could track what you looked at, and when.

As a result, theyd end up knowing an awful lot about you just the sort of stuff, in fact, that makes phishing attacks more convincing and identity theft easier.

Even worse, without any encryption, eavesdroppers can not only see what youre looking at, but also tamper with some or all of your traffic, both outbound and inbound.

If you were downloading a new app, for example, they could sneakily modify the download in transit, and thereby infect you with malware.

Anyway, all those years ago, we were pleasantly surprised to find that many of the giant cloud companies of the day including Facebook, and others such as Google seemed to agree with our disagreement.

The big players ended up switching all their web traffic from HTTP to HTTPS, even when you were uploading content that you intended to publish for the whole world to see anyway.

Fast forward to 2020, and youll hardly see any HTTP websites left at all.

Search engines now rate unencrypted sites lower than encrypted equivalents, and browsers do their best to warn you away from sites that wont talk HTTP.

Even the modest costs associated with acquiring the cryptographic certificates needed to convert your webserver from HTTP to HTTPS have dwindled to nothing.

These days, many hosting providers will set up encryption at no extra charge, and services such as Lets Encrypt will issue web certificates for free for web servers youve set up yourself.

HTTP is no longer a good look, even for simple websites that dont have user accounts, logins, passwords or any important secrets to keep.

Of course, HTTPS only applies to the network traffic it doesnt provide any sort of warranty for the truth, accuracy or correctness of what you ultimately see or download. An HTTPS server with malware on it, or with phishing pages, wont be prevented from committing cybercrimes by the presence of HTTPS. Nevertheless, we urge you to avoid websites that dont do HTTPS, if only to reduce the number of danger-points between the server and you. In an HTTP world, any and all downloads could be poisoned after they leave an otherwise safe site, a risk that HTTPS helps to minimise.

Sadly, whats good for the goose is good for the gander.

As you can probably imagine, the crooks are following where Google and Facebook led, by adopting HTTPS for their cybercriminality, too.

In fact, SophosLabs set out to measure just how much the crooks are adopting it, and over the past six months have kept track of the extent to which malware uses HTTPS.

Well, the results are out, and it makes for interesting and useful! reading.

In the paper, we didnt look at how many download sites or phishing pages are now using HTTPS, but instead at how widely malware itself is using HTTPS encryption.

Ironically, perhaps, as fewer and fewer legitimate sites are left behind to talk plain old HTTP (usually done on TCP port 80), the more and more suspicious that traffic starts to look.

Indeed, the time might not be far off where blocking plain HTTP entirely at your firewall will be a reliable and unexceptionable way of improving cybersecurity.

The good news is that by comparing malware traffic via port 80 (usually allowed through firewalls and almost entirely used for HTTP connections) and port 443 (the TCP port thats commonly used for HTTPS traffic), SophosLabs found that the crooks are still behind the curve when it comes to HTTPS adoption

but the bad news is theyre already using HTTPS for nearly one-fourth of their malware-related traffic.

Malware often uses standard-looking web connections for many reasons, including:

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Hardware-based Full Disk Encryption Market To Witness Growth Acceleration During 2020-2026 | Western Digital Corp, Samsung Electronics, Toshiba,…

The Global North America Hardware-based Full Disk Encryption Market Research Report gives an in-depth assessment of the market to provide accurate insights into its expected growth in the forecast duration from 2019 to 2026. The primary applications of the North America Hardware-based Full Disk Encryption have also been discussed in the report. The research study also offers an all-inclusive assessment of the Global North America Hardware-based Full Disk Encryption market demand, implementation, standardization, challenges, threats, growth opportunities, and historical analysis backed by expert opinions.

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The market report evaluates the market size, recent trends, and development status of the North America Hardware-based Full Disk Encryption market, along with the investment opportunities, government policies, regional analysis, market dynamics, drivers, constraints, opportunities, growth trajectory of the North America Hardware-based Full Disk Encryption market, value chain analysis, and a competitive analysis. Technological innovations will boost the output of the product, expanding its downstream applications. Furthermore, Porters Five Forces Analysis, which includes emerging players, suppliers, available alternatives, customers, and leading companies, offers critical data that helps readers get a holistic outlook of the North America Hardware-based Full Disk Encryption market.

In market segmentation by manufacturers, the report covers the following companies-

Seagate Technology PLCWestern Digital CorpSamsung ElectronicsToshibaKingstonMicron Technology IncIntel

In market segmentation by types of North America Hardware-based Full Disk Encryption, the report covers-

Hard Disk Drive (HDD) FDESolid State Drives (SSD) FDE

The evaluation also includes the rates of production and consumption, gross revenue, and average product price and market shares of key players. The information gathered is further broken down by including regional markets, production plants, and product types available in the market. Other key points, like competitive analysis and trends, concentration rate, mergers & acquisitions, expansion tactics, which are vital to establishing a business in the sector, have also been included in the report.

In market segmentation by applications of the North America Hardware-based Full Disk Encryption, the report covers the following uses-

IT & TelecomBFSIGovernment & Public UtilitiesManufacturing EnterpriseOthers

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Geographically, the report includes the research on production, consumption, revenue, market share, CAGR, and forecast (2019-2026) of the following regions:

North America

Europe

Asia Pacific

Latin America

Middle East and Africa

Chapters Covered in this report:

Chapter 1gives an overview of the North America Hardware-based Full Disk Encryption market, along with a global revenue, global production, sales, and CAGR. This chapter provides a forecast and overall assessment of the market based on product types, applications, and regions.

Chapter 2discusses the market landscape and the major players involved. It offers a competitive analysis of the global market while focusing on the essential information pertaining to the leading companies operating in the industry.

Chapter 3gives an extensive analysis of the key companies engaged in the North America Hardware-based Full Disk Encryption industry. The vital information offered in the report includes company profiles, product range, specifications, applications, end uses, and their market standing, along with an elaborate business outlook.

Chapter 4provides a global assessment of the North America Hardware-based Full Disk Encryption sector by evaluating the overall market share, gross revenue, cost structure, production, and CAGR by product types.

Chapter 5includes the applications of North America Hardware-based Full Disk Encryption by looking at the rate of consumption as well as the growth trajectory of each application in recent years.

Chapter 6looks at the rate of production, consumption, export/import status, and the demand-supply dynamics, as observed in the regional markets of the North America Hardware-based Full Disk Encryption sector.

Chapter 7focuses on the revenue generation, production, pricing volatility, cost structure, and profit margin of North America Hardware-based Full Disk Encryption in the leading regions. The analysis of production, revenue, price, and gross margin of the different regions has also been included in this chapter.

Chapter 8performs a production analysis, including raw material analysis, process analysis, and cost analysis, to give an exhaustive assessment of the manufacturing cost.

Chapter 9elaborates on the industrial chain of North America Hardware-based Full Disk Encryption. This chapter gives value chain analysis, raw material availability, and downstream customers.

Chapter 10gives accurate insights into the current and future market dynamics.

Chapter 11gives a 360 view of the North America Hardware-based Full Disk Encryption market, including the inspection of the global production, revenue forecast, and regional landscape. It also predicts the development of the North America Hardware-based Full Disk Encryption market by type and application.

Chapter 12concludes the report with the highlights and detailed findings of the research study.

Chapter 13lists the research methodologies adopted, and the sources of the information referred to in the study.

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In conclusion, the North America Hardware-based Full Disk Encryption Market report is a reliable source for accessing the Market data that will exponentially accelerate your business. The report provides the principal locale, economic scenarios with the item value, benefit, supply, limit, generation, request, Market development rate, and figure and so on. Besides, the report presents a new task SWOT analysis, speculation attainability investigation, and venture return investigation.

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Hardware-based Full Disk Encryption Market To Witness Growth Acceleration During 2020-2026 | Western Digital Corp, Samsung Electronics, Toshiba,...

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Encryption Software Market are anticipated to lucrative growth opportunities in the future by Product Type, Structure, End-user and Geography to 2027…

A leading research firm, Zion Market Research added a latest industry report onGlobal Encryption Software Market Is Set for a Rapid Growth and is Expected to Reach USD 7.17 Billion by 2021, (Sample Copy Here) consisting of 110+ pages during the forecast period and Encryption Software Marketreport offers a comprehensive research updates and information related to market growth, demand, opportunities in the global Encryption Software Market.

The Encryption Software Marketreport provides in-depth analysis and insights into developments impacting businesses and enterprises on global and regional level. The report covers the global Encryption Software Marketperformance in terms of revenue contribution from various segments and includes a detailed analysis of key trends, drivers, restraints, and opportunities influencing revenue growth of the global consumer electronics market.This report studies the global Encryption Software Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the global Encryption Software Market by companies, region, type and end-use industry.

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Our Free Complimentary Sample Report Accommodate a Brief Introduction of the research report, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology

The Encryption Software Market report provides company market size, share analysis in order to give a broader overview of the key players in the market. Additionally, the report also includes key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, product and regional expansion of major participants involved in the market on the global and regional basis.

The Encryption Software Market is widely partitioned reliant on the predictable updates in the enhancement of parameters, for example, quality, trustworthiness, end customer solicitations, applications, and others. The Encryption Software Market report contains general successful parameters, confinements, and besides has in detail illumination of the noteworthy data close by the present and future examples that may concern the advancement. The comprehensive Encryption Software Market report elucidates within and outside representation of current advancements, parameters, and establishments.

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he Leading Market Players Covered in this Report are : BM, Microsoft, Sophos ltd, Gemalto, Net App Inc, Hewlett- Packard, Vormetric, Oracle, Intel and Symantec

The global Encryption Software Market report also delivers the accurately estimated pattern of CAGR to be followed by the market in the future. The numerous highlighted features and enactment of the Encryption Software Market are examined based on the qualitative and quantitative technique to deliver the whole scenario of the current and future evaluation in a more-effective and better understandable way.

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Worldwide Encryption Software Market Report Provides Comprehensive Analysis of:

This report focuses on price, sales, revenue and growth rate of each type, as well as the types and each type price of key manufacturers, through interviewing key manufacturers. Second on basis of segments by manufacturers, this report focuses on the sales, price of each type, average price of Encryption Software Market, revenue and market share, for key manufacturers.

The classification of the global Encryption Software Market is done based on the product type, segments, and end-users. The report provides an analysis of each segment together with the prediction of their development in the upcoming period. Additionally, the latest research report studies various segments of the global Encryption Software Market in the anticipated period.

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

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Zettaset to Participate in Cybersecurity Forum at Annual HIMSS 2020 Conference – Business Wire

ORLANDO, Fla.--(BUSINESS WIRE)--Zettaset, a leading provider of software-defined encryption solutions, today announced that CEO Tim Reilly will be featured as a guest speaker during the HIMSS 2020 Cybersecurity Forum a designated venue where attendees will learn how leading provider organizations are protecting healthcares expanding digital footprint and securing data inside and outside the hospital. Reillys session titled, Breach. Theft. Disaster: Protecting the Digital Transformation from Itself, will be taking place on March 9 at 11:40am ET at the Hyatt/Plaza International Ballroom H.

The healthcare industry continues to be a primary target for cybercriminals looking to capture and expose sensitive information. However, despite healthcare organizations best efforts, sensitive data continues to remain unencrypted and left exposed. Whether its protected health information, medical records, data stored in containers or even wireless IoT medical devices, healthcare leaders continue to struggle with implementing cybersecurity best practices.

For healthcare entities striving for a more comprehensive cybersecurity solution, encryption is an essential element to a data protection strategy. It addresses data privacy and protection needs, and provides scalability within the dynamic, high-volume data environments that exist within this industry. In his session, Reilly will examine why encryption acts as a critical component of any healthcare cybersecurity strategy.

Who:

Tim Reilly, CEO, Zettaset

What:

Breach. Theft. Disaster: Protecting the Digital Transformation from Itself. The rapid adoption of new technologies such as DevOps, IoT and Containers along with the further reliance on cloud infrastructures has created new exposure points for cyberattacks. The digital transformation initiatives being implemented to improve the customer experience leverage these emerging technologies, but comprehensive protection of the sensitive data at the core of these security solutions is lacking. Encryption plays a key role in any security strategy, but lags behind in its application.

The defenses against a cyberattack will continue to be tested and the inevitable will happen. Its not if, but when a data breach or theft occurs. Encryption provides that last line of defense and protects the data in whatever environment a new technology is deployed.

When:

Monday, March 9, 2020 at 11:40 a.m. ET

Where:

HIMSS-CHIME Cybersecurity ForumHyatt Regency Orlando | Plaza International Ballroom H9801 International DriveOrlando, FL

The HIMSS Global Health Conference & Exhibition brings together nearly 45,000 health information and technology professionals, clinicians, executives and market suppliers from around the world. Exceptional education, world-class speakers, cutting-edge products and powerful networking are hallmarks of this industry-leading conference.

Visit the Zettaset team at Booth 400-43 to learn more about its software-based encryption solutions that are optimized for petabyte-scale data center, virtual, and cloud deployments during HIMSS 20.

About ZettasetZettaset is a software-defined encryption solution that can be transparently deployed across all physical and virtual enterprise environments. Unlike traditional solutions that are appliance-based, Zettaset is a cost-effective, software-only solution that is easy to deploy, does not impact performance, and scales with your business from on premise to the cloud. Learn more at zettaset.com.

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Proposed Bill Could Threaten Apple, Facebook Messaging Platforms – MSSP Alert

by DH Kass Feb 22, 2020

A bipartisan bill aimed at preventing online child exploitation could also blunt end-to-end encryption for messaging platforms and potentially strip tech companies of protection from prosecution for publishing certain content.

The Eliminating Abuse and Rampant Neglect of Interactive Technologies Act of 2019 (EARN IT Act) is co-sponsored by Senators Lindsey Graham (R-SC), chairman of the Senate Judiciary Committee, and Richard Blumenthal (D-CT). The senators have reportedly been quietly circulating a draft version of the bill to other lawmakers.

EARN IT would establish a 15-member National Commission on Online Child Exploitation Prevention to include the Chairman of the Federal Trade Commission, the Attorney General and the Secretary of Homeland Security, tasked with determining a set of best practices for providers of online services to battle child exploitation. Tech companies would have to comply with the best practices to retain Section 230 protection that shield them from prosecution for posting controversial content such as crimes, hate speech and extremism. Those that failed to adhere would be stripped of their Section 230 immunity and potentially prosecuted. The measure could affect a wide range of social media platforms and cloud service providers, including Apples iCloud and Facebooks WhatsApp, which together have nearly 2.5 billion users.

Its important to note that while Section 230 protects companies that host third-party content from legal liability for what their users say and do, it doesnt provide immunity against prosecutions under federal criminal law, or liability based on intellectual property law, communications privacy law, or certain sex trafficking laws.

The Electronic Frontier Foundation (EFF) is highly critical of the proposed bills impact, particularly its potential to undermine Section 230, which is widely regarded as a core tenet of Internet free speech. The EARN IT Act grants sweeping powers to the Executive Branch [and] opens the door for the government to require new measures to screen users speech and even backdoors to read your private communications, the EFF wrote in a blog post. Congress must forcefully reject this dangerous bill before it is introduced, the blog said.

In a Senate Judiciary hearing last December, a bipartisan group of senators signaled their intention to press tech companies to design product encryption to comply with court orders mandating access by authorized officials. Graham, in particular, warned Apple and Facebook: My advice to you is to get on with it, because this time next year, if we havent found a way that you can live with, we will impose our will on you.

So far, no solution has emerged that reconciles privacy with national security concerns. In 2016, a skirmish erupted between Apple and the Federal Bureau of Investigation when the iPhone maker refused to comply with a court order to unlock a terrorists device for law enforcement to view. Apple feared that an unlocked iPhone could compromise the security of millions of its users worldwide. In the incidents wake, both lawmakers and tech executives called for new legislation that would protect users privacy and assist law enforcement where none now exist.

EARN IT could be referenced to force providers of end-to-end encrypted messaging services to build in backdoors to their products, the EFF said. These demands would put encryption providers like WhatsApp and Signal in an awful conundrum: either face the possibility of losing everything in a single lawsuit or knowingly undermine their own users security, making all of us more vulnerable to criminals, the blog said.

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Cloud Encryption Technology Market Analysis with Key Players, Applications, Trends and Forecasts to 2025 | Gemalto, Sophos, Symantec – Nyse Nasdaq…

Reports Monitors report on the global Cloud Encryption Technology market studies past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the Cloud Encryption Technology market during the forecast period from 2019 to 2024. The report provides the overall global market statistics of the global Cloud Encryption Technology market for the period of 20192024, with 2018 as the base year and 2024 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global Cloud Encryption Technology market during the forecast period.

SWOT Analysis of Leading Contenders covered in this report:- Gemalto, Sophos, Symantec, SkyHigh Networks, Netskope and more.

Get access to sample report, Click here @https://www.reportsmonitor.com/request_sample/480068

The global Cloud Encryption Technology market was xx million US$ in 2018 and is expected to xx million US$ by the end of 2024, growing at a CAGR of xx% between 2019 and 2024.

This report studies the Cloud Encryption Technology market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2024; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porters Five Forces Analysis.

Product Type Segmentation:-

SolutionServices

Industry Segmentation:-

BFSIHealthcare and LifesciencesMedia and EntertainmentRetail and E commerceAutomotive and ManufacturingIT and Telecom

The Cloud Encryption Technology market report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global Cloud Encryption Technology market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global Cloud Encryption Technology market.

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The report reaches inside into the competitive landscape of the global Cloud Encryption Technology market. Key players operating in the global Cloud Encryption Technology market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of players in the global Cloud Encryption Technology market that have been profiled in this report.

Regional Coverage:-

The report has been prepared after extensive primary and secondary research. Primary research involves the bulk of research efforts wherein, analysts carry out interviews with industry leaders and opinion-makers. Extensive secondary research involves referring to key players product literature, annual reports, press releases, and relevant documents to understand the global Cloud Encryption Technology market.

Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomena in the global Cloud Encryption Technology market.

Key Questions Answered in Cloud Encryption Technology Market Report

View this report with a detailed description and TOC @ https://www.reportsmonitor.com/report/480068/Cloud-Encryption-Technology-Market

Contact UsJay MatthewsDirect: +1 513 549 5911 (U.S.)+44 203 318 2846 (U.K.)Email: [emailprotected]

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Cloud Encryption Technology Market Analysis with Key Players, Applications, Trends and Forecasts to 2025 | Gemalto, Sophos, Symantec - Nyse Nasdaq...

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US legislation to fend off end-to-end encryption of Facebook, Google and others – Financial World

As a number of tech conglomerates including industry Goliaths such as Google LLC. alongside Facebook Inc., had been setting their eyes on an end-to-end encryption of their users messages and data, US congress has been set to introduce a bill over the coming weeks that would prevent the tech tycoons from offering end-to-end encryption as it looks to limit the scale of "children sexually abusive content" distributions through such platforms, at least two people familiar with the matter had unveiled late on Friday, the 21st of February 2020, on condition of anonymity as the sources were not authorized to speak publicly over the issue.

In point of fact, latest move of the US cabinet in effect would dilute impacts of a law called section 230 that had been safeguarding the tech tycoons from lawsuits related to distribution of potentially harmful contents as under the Section 230 law, certain online platforms could not be held liable for the contents posted, published delivered through their online platforms.

Concomitantly, the bill, which would be proposed by the Chair of Senate Judiciary Committee Lindsey Graham alongside a Democratic Senator Richard Blumenthal, would be duelling against the tech tycoons to hold them liable for the contents published and posted on their online platforms and to make them subjects to state prosecution alongside civil lawsuits, said the sources.

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Bitcoin’s Coronavirus Selloff Throws Cold Water on Safe-Haven Argument – CoinDesk – CoinDesk

As U.S. stocks tumbled on Monday by the most in six months amid renewed coronavirus fears, bitcoin barely budged - at least in terms of the notoriously volatile cryptocurrencys trading history.

Bitcoin (BTC) was down 4.6 percent as of 6:17 p.m. UTC (1:17 p.m. ET) to $9,517. But a decline of that magnitude represents merely the biggest drop since last week; already this year, bitcoin has suffered six other single-day losses of 3 percent or greater. And due to a powerful rally in recent months, the cryptocurrencys price is still up about 32 percent in 2020.

Such a performance stands in stark contrast with the Standard & Poors 500 Index of large U.S. stocks, whose 3.6 percent plunge was the most for a single day since early August and wiped out investors gains for the year.

Theres certainly a bit of fear in the bitcoin market, but its not anything close to the panic were seeing on Wall Street today, with the clear flight to safety, said Mati Greenspan, founder of the analysis firm Quantum Economics, which specializes in cryptocurrencies and foreign exchange. Three percent is a very different figure for stocks and for bitcoin.

The episode could renew an ongoing debate among investors over whether bitcoin should trade as a risky asset like stocks and junk bonds, or if its more akin to a safe haven like gold or U.S. Treasury bonds. Theres also the possibility that its neither in a category of its own and largely uncorrelated with traditional asset prices.

Indeed, the coronavirus wasnt the only news potentially affecting bitcoin prices on Monday: Billionaire investor Warren Buffett asserted in a CNBC interview that he doesnt own any cryptocurrency and never will.

The plunge in stocks came as authorities globally struggled to stem the spread of the coronavirus beyond China, raising concerns the global economy will suffer a bigger hit from quarantines and delays in international trade and travel, according to Bloomberg News. The epidemic has now spread to more than 30 countries, including South Korea, Italy and parts of the Middle East.

Traditional safe-haven assets like gold and U.S. government bonds rallied on Monday. Gold rose 1.7 percent to $1,676.50 a troy ounce, the highest in seven years. U.S. Treasuries rose, too, as the yield on the 10-year note declined by 0.11 percentage point to 1.36 percent. Bond prices move in the opposite direction from their yield.

A jump in bitcoin prices in January after the U.S. killing of a top Iranian led to heightened concerns of geopolitical and economic turmoil prompted some traders to speculate that the cryptocurrency might be gaining acceptance among investors as a safe haven.

But in a report last week, the Norwegian analysis firm Arcane Research noted bitcoins correlation with gold had weakened since the start of this year.

Greg Cipolaro, co-founder of the crypto-focused firm Digital Asset Research, said in an interview he recently studied bitcoins price performance over the past nine years on days when U.S. stocks experience big swings, defined as a price move thats statistically two standard deviations away from average.

On the 13 times such daily moves occurred over the period, bitcoins price rose an average of 1.5 percent when stocks rallied. Bitcoin's price fell 0.34 percent when there was an unusually large selloff. Since 2011, bitcoin rose by 0.6 percent per day, on average.

On these kinds of days where you have these risk-off scenarios, bitcoin tends to be down on the day, Cipolaro said. Its not the same as owning Treasuries, and not the same as owning gold.

The takeaway for the bitcoin market might still be positive, he said, since hedge funds and other large investors are often hunting for assets that are mostly uncorrelated with traditional markets but boast a track record of high risk-adjusted returns.

Jeff Dorman, chief investment officer of the crypto-focused firm Arca Funds in Los Angeles, said in a phone interview that cryptocurrencies might be slower to react to global developments than stocks and bonds because theyre still largely disconnected from Wall Street; digital assets like bitcoin arent typically bought via traditional brokerage accounts.

It's irresponsible for anyone to say that bitcoin is truly a safe haven, Dorman said. Look at how gold and Treasuries and equities react instantaneously to global fears. Bitcoin and digital asserts live outside that work flow.

Federal Reserve officials led by Chair Jerome Powell have signaled recently they see the current stance of monetary policy as appropriate, but that the coronavirus could put the health of the global economy at risk. The implication is that the U.S. central bank might need to cut interest rates to stimulate markets and business activity if the contagion leads to a steeper-than-anticipated dropoff in growth.

Such monetary-policy easing might ultimately bolster the case for buying bitcoin, Dorman said, since many analysts believe that limits on the supply of new units of the cryptocurrency make it useful as a hedge against inflation.

I don't expect bitcoin to trade as risk-on or risk-off asset, he said. But over a longer period of time, anything that's inflationary, or said another way devalues other currencies, strengthens the purchasing power of bitcoin.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Binance CEO Makes Rare Price PredictionSays This Is When To Buy Bitcoin – Forbes

Bitcoin, along with the surging wider cryptocurrency market, has had an incredible start to the year.

The bitcoin price has rallied around 50% since January 1, with some smaller cryptocurrencies making surprise triple-digit percentage gains, and many bitcoin bulls think it still has further to gothough problems could be on the horizon.

Now, Changpeng Zhao, the widely-respected founder and chief executive of the world's biggest bitcoin and cryptocurrency exchange Binance, has broken his rule against market forecasting to predict "the bitcoin price will likely increase."

Binance's chief executive is feeling bullish on the bitcoin price ahead of bitcoin's upcoming ... [+] halving event, expected in May.

"I personally believe the halving has not been priced in," Changpeng Zhao, often known simply as CZ, told bitcoin, cryptocurrency and blockchain video news site BlockTV this week, adding he "doesn't usually give market predictions" because he will be wrong "50% of the time."

Bitcoin traders and investors have begun gearing up for the looming May bitcoin halving event, among other positive bitcoin developments expected this year, when the coin reward for mining new bitcoin blocks is scheduled to drop from 12.5 bitcoin to 6.25 bitcoincutting the supply of new bitcoin coming onto the market by half.

There have already been two bitcoin halvings since bitcoin launched in 2009, one in 2012 and another in 2016. Bitcoin halvings are scheduled to continue roughly once every four years until the maximum supply of 21 million bitcoins has been generated by the network, something that won't happen until well into the next century.

Whether the upcoming bitcoin halving has been "priced in" by the market has become a controversial issue among investors. Generally, in well-developed markets, equity, commodities and currencies are priced based on future expectationssuggesting that as bitcoin traders and investors are aware of the May halving, the price will have already made the gains related to it.

CZ disagrees, however, telling BlockTV: "The market is not efficient. Most people don't get information quickly. People need a lot of time to let concepts sink in and adjust."

Many are hoping the 2020 bitcoin halving will see a repeat of the last cut to supply. Bitcoin prices doubled in 2016 and soared 13-fold the following year.

However, CZ warned that "historic events do not predict future events, so don't take that too literally," but explained the bitcoin halving will mean "it costs miners almost double what it does now to produce one bitcoin. Psychologically, those miners won't be willing to sell below that price."

The bitcoin price has soared so far this year but has swung wildly in recent weeks, bouncing around ... [+] the psychological $10,000 per bitcoin mark.

"New bitcoin coming to market will be severely limited and at the same time we're seeing more users and traders coming in."

"Economic theory tells us that the bitcoin price will likely increase but this is just the theory and hard to predict," CZ said, adding he's feeling "pretty positive."

Meanwhile, the number of people searching Google for the term "bitcoin halving" has been steadily rising along with the bitcoin price.

Analysts at Arcane Research found last monththat an increase in searches could be a sign bitcoin's halving will recapture the wider public interest in bitcoin and crypto that catapulted the bitcoin price to around $20,000 in 2017.

Many other bitcoin and cryptocurrency market watchers share CZ's enthusiasm, though some think it could be other factors that push up the bitcoin price.

"I still think that bitcoin will hit $100,000 by end of December 2021," Anthony Pompliano, the cofounder of bitcoin and crypto investment group Morgan Creek Digital, said last month, pointing to bitcoin's "fixed supply" and "increasing demand" as the reason for bitcoin's performance.

Elsewhere, others are not so upbeatwith the the chief executive of China-based investment advisory group RockTree Capital last month forecasting we could see the bitcoin price dip.

Read more from the original source:
Binance CEO Makes Rare Price PredictionSays This Is When To Buy Bitcoin - Forbes

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How to Protect Bitcoin for Your Heirs With the Push of a ‘Dead Man’s Button’ – CoinDesk – Coindesk

What happens to your bitcoin after you die?

This is more than just a philosophical question: It could involve a substantial amount of currency.

The question of crypto and the Great Beyond is what prompted about 20 or so developers to get together in London recently to experiment with repurposing the current lightning protocol to send private messages as a dead man's button, a system that can't be censored and would keep your crypto safe for your heirs.

Lightning Labs infrastructure engineer Joost Jager has been exploring using lightning for messaging over the past year. At the Advancing Bitcoin conference in London, Jager hosted a workshop to explore building a dead man's button with lightning. The mission was to show that lightning can be used as messaging system as well as a payment network.

These buttons are not new. At the workshop, Jager noted Edward Snowden, the National Security Agency whistleblower, used one in case he died before journalists could reveal the contents of the documents he wanted to make public.

The goal of the workshop was to explore one of lightnings relatively new features, "keysend" (formerly known as spontaneous payments). Its so experimental it isn't even described in the lightning specifications yet. But it does offer a way to send data (called "custom records" in LND, the lightning implementation Jager works on) along with a transaction.

Heres how it might work: Imagine a user who wants to pass on a bitcoin (BTC) inheritance. That user would communicate with a "service," pushing a "button" that would send a message every week or so to signify that the user is still alive.

If the button isn't pressed one week, it is assumed the bitcoin user is dead or incapacitated and it's time for the bitcoin to be passed on, at which point the service automatically dispenses a "secret," which can be used to retrieve the crypto.

Beyond that, Jager thought some additional features should be added, even if they could make the program trickier to implement. The program should maintain the privacy of the sender and the receiver, he said, and should allow the sender to get proof the service still has the secret.

Developers split into small groups to think about how to build a service that would meet all of these and other goals. The workshop developers came up with some ideas, which Jager published to GitHub. He included a rough implementation, which puts several of the ideas into practice, though he said the code "is extremely limited and does not implement everything described."

This design isn't necessarily the best way forward, Jager said, but it's a proof of concept he hopes can inspire other implementations.

Imagination versus loss

Jager told CoinDesk the "primary" reason he chose the dead man's button for the workshop was it is complex enough of a use case that it can show off what lightning can do as a messaging system.

But he also thinks a dead man's button could be a real use case for lightning down the road.

"Many people try to arrange their crypto inheritance and need to make up their minds about who they trust. This could be an alternative, assuming that wrinkles are ironed out and the whole process is hidden underneath a user-friendly shell," he said. This is "unlikely to happen short term, but I hope people see the possibilities."

Lawyer Pamela Morgan, an expert on crypto inheritance and author of a book dedicated to helping people develop a plan to pass on their crypto, agrees with Jager the technology is far from ready. But she said she would not encourage users to put any money into any experimental dead man's button systems just yet.

"Dead man's switches are fun projects that excite our imaginations but fail to solve the complex and multidisciplinary challenges of crypto asset inheritance distribution. Relying on such solutions for something as important as inheritance is likely to cause catastrophic loss," she told CoinDesk.

However, she said the technology has promise. Since few crypto enthusiasts have any sort of a plan for what to do with their currencies after they are gone, she's happy to see people exploring ways to make crypto inheritance a more common practice.

"If adding a dead man's switch makes more people actually do inheritance planning for their bitcoin, then I'm all for it because so few people actually do anything," she told CoinDesk.

In the meantime, Jager is pressing on with beefing up lightning's messaging system to make it easier to send messages across the network.

Correction (Feb. 24, 22:52 UTC): This article has been updated to clarify the intent of the workshop.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Link:
How to Protect Bitcoin for Your Heirs With the Push of a 'Dead Man's Button' - CoinDesk - Coindesk

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