Bitcoin: speculative hysteria or technological revolution?


The crazy rise of Bitcoin continues. The price of the virtual currency, whose name arouses a fever in the media and on the stock markets, continues to rise, surpassing the symbolic threshold of $8,000 on November 21 while it was still worth $3,000 last June.

If we recall that the e-money was trading for $1 in 2010, the increase is impressive, but we must also remember that the price of Bitcoin also fell sharply in 2011 and 2013 and has experienced very rapid fluctuations since then.

However, the mad race for growth that has been going on since the beginning of the year 2017 and the symbolic passage of the $8,000 suggests to all those who profess an unshakeable faith in the new digital god that it will make them millionaires. On the contrary, other observers predict the imminent bursting of this new speculative bubble or insist on the fact that changes in the price of Bitcoin are decided by a small number of players, some 70 investment funds that make and break the prices as they wish. You can even buy Bitcoin with Paypal like explained here

This new technology opens up vivid and fascinating perspectives and a speculative fury that bodes well for a crash.

The current situation is not so far removed from the hysteria triggered in the 1990s by the beginnings of the Internet. In both cases, a new technology that few still understand, vagueness and fascination, and speculative fury that bodes well for a crash.

The bursting of the first “Internet bubble” in March 2000 left many investors on the back burner, fewer who had managed to preserve the considerable fortunes built on sand in such a short time.

fsojgnsgnepanirueourtuuttuytyyyuProfits from 1995 to 2000 totaled $145 billion, and losses in 2000-2001 totaled $148 billion.

Without throwing into the extreme gloom of the last-minute modernists who swear by the “tablet revolution” at school or want to connect everything, from the teacher to the entrepreneur to the fridge, it remains true that in two decades, a few significant innovations have forever changed our lives and our societies.

The same type of technological leap is taking place behind the highly mediatic Bitcoin, a virtual tree that hides the forest from the real applications of the block chine principle to the economy and everyday life. What hides behind these still little-known concepts of digital currencies whose stock market adventures excite investors’ imagination? The answer is simple: an algorithm. The explanation is much less so.

The Bitcoin is an encrypted currency that allows for online peer-to-peer transactions without the intervention of a third party as an audit authority.

Android: Google collects your location continuously and sneakily

The computer giant registers the GSM cell addresses of users, even if geolocation services are disabled. This collection is expected to cease by the end of this month.

It’s not just OnePlus or Wiko that are collecting strange user data. The giant Google itself has just been caught in the bag. Quartz reporters have just revealed that Mountain View’s servers are constantly recording the GSM cell numbers of all Android smartphones. This identifier, which is specific to each operator, is automatically distributed to terminals as soon as they enter the radius of a base station. The problem is that it makes it possible to locate the user in a more or less fine way, especially if triangulation techniques are used.

Google has confirmed to Quartz the collection of this data by stating that it has never been stored. GSM cell addresses have been effectively transmitted since January 2017 to apparently “improve the speed and performance of message routing.” But in reality, this data would never have been used. Google promised he’d stop collecting it by the end of the month.

General terms of services of use are not clear.

According to a Quartz source, this collection started with the update of Firebase Cloud Messaging, a mail and notification service that has been owned by Google since 2014 and is integrated by default in all Android smartphones. It is not clear how the GSM cell number can help Google to route these messages and notifications. Quartz has found that this collection is carried out on all terminals at all times, even if the user deactivates geolocation, and even in the absence of a SIM card.

In Google’s terms of use, this collection is not specifically stated. Google only explains how to use “different technologies to locate you, including IP address, GPS signals and other sensors that allow us to identify devices, WiFi access points, and nearby relay antennas.” It would be nice if Google would abandon this vague wording and finally give more details about what it collects.