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Encrypted doesn’t mean hack proof, even for cryptocurrency

(TECH NEWS) There is no such thing as un-hackable, even in cryptocurrency. Yes, it can be hacked, BUT it can also be prevented.

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What if cryptocurrency… wasn’t?

Sounds like a terribly clever Black Mirror episode, I realize, but it’s a serious question that’s come up more and more in conversations about cryptocurrency: is it really safe? Security has always been the core offer of bitcoin, Ethereum and their digital kindred. It’s right there in the name. Cryptocurrency equals currency, encrypted. It’s supposed to be so good it can be bad, as in, the security is so tight bad people can do bad things and nobody knows about it.

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But despite the rep for felon-worthy security, the plain fact is that blockchain isn’t invincible. When it comes to secure exchange of funds, blockchain-based cryptocurrency is still probably your best bet, but as with all things “best” does not equal “perfect.” Blockchain’s advantages over conventional cash are clear: there’s no hard currency to steal or lose, no middleman to get up to nefarious doings, and the records are cozy behind the apex of information security. That’s great, but it’s not everything.

How to keep the crypt part of cryptocurrency

That being the case, in my self-appointed role as AG Crypto Guy (Pulitzers, call me) here follow several ways nefarious folks can eff with your fat digital stacks, and what you can do about them.

1. Malware

It’s a classic. Early on, cryptocurrency was spared the plague of Russian threats and Nigerian princes for the same reason as Linux: not enough there to steal. After Mt. Gox and other frankly spectacular bits of fraud (the word “trillion” occurs in the Mt. Gox story, and it’s not hyperbole) that is, to say the least, no longer the case. Bad folks are writing programs based on the same tricks they’d use to swipe normal cash – Trojans that skulk in the guts of your programs, scooping up secure data, phishing attempts to get you to hand that data over voluntarily – aimed at your digital dollars.

Solution: Operational security. Sounds fancy when I put it like that, but for our purposes “operational security” just means “stuff that you do” as distinct from “stuff your computer does.” If you keep a substantial portion of your value in cryptocurrency, protect it as tightly as you would anything else worth having. Have strong, single-use passwords for each service you use your coins of choice with. Keep offline backups of your cryptographic credentials. Use a good VPN. Think of it as the equivalent of keeping your bank password out of your Smart Lock list, and not putting your PIN on a Post-It.

2. Botnet

The scourge of the new digital order. Seriously, who figured the robot apocalypse would come, not in the form of a deceptively soft-voiced computer overlord, but a houseful of mechanical morons? Well, except XKCD. And us. Anyway. The aforementioned bad folks are by no means especially bright, so they tend to be in favor of having other things do their thinking for them. As we put more and more computers into things, generally with less and less security, those people can make those computerized things do the thinking, and the hacking, for them. Hundreds, thousands or hundreds of thousands of dumb little computer brains can thus be put to work, crashing sites with overwhelming numbers of requests or brute forcing security information by inputting every possible option at the speed of Internet.

Solution: Get offline. Not entirely, obviously. That would rather defeat the purpose of digital currency. But the Mt. Gox folks got shafted because they kept their bitcoins in an online wallet, and through mismanagement, fraud or a combination thereof, they found themselves suddenly bereft of same. To avoid their fate, go with what cryptocurrency types call “cold storage”: keep your stash offline. No amount of digital malfeasance can reach data that isn’t connected to anything. When buying or selling on an exchange, restrict what you transfer to what you’ll use for that particular transaction, and use a wallet where you and only you have the public and private key. It’s only a little less convenient, and it’s safe as houses.

3. Scams

If the information revolution of the last four decades could be reduced to a single transcendent lesson, it is as follows: no digital solution, however elegant, fixes stupid. With something as new and deliberately opaque as cryptocurrency, it’s horribly easy to be stupid, and even easier for folks versed in the art of the steal to exploit same.

Solution:
Learn. At least until we get a proper robot apocalypse going, this is something we h. sapiens can do that, as yet, our machine overlords can’t. Do the reading. Research different currencies and different exchanges before you lay out funds. Talk to people about their experiences before you invest. Nothing replaces legwork, digital or otherwise.

4. Hacking

Proper hacking this time, none of this faffing about with turncoat toasters or email con games. No code is perfect. Some bad folks, alas, are exceptionally bright, and will from time to time find holes they can exploit.

Solution: Zen. Or “s$%t happens,” depending on your cultural framework. Cryptocurrency isn’t perfectly secure. Perfect security isn’t a thing. It’s just more secure than normal currency, especially if you have a philosophical problem with banks, nations or both. People have been scamming people through the medium of exchange since the medium of exchange was barter. Cash is safer than barter. Cryptocurrency is safer than cash. That doesn’t mean it’s perfect, just that it’s as good as it gets. Execute on the solutions above, and with any luck your Robot Future Money should stay where it belongs.

#KeepItCrypt

Matt Salter is a writer and former fundraising and communications officer for nonprofit organizations, including Volunteers of America and PICO National Network. He’s excited to put his knowledge of fundraising, marketing, and all things digital to work for your reading enjoyment. When not writing about himself in the third person, Matt enjoys horror movies and tabletop gaming, and can usually be found somewhere in the DFW Metroplex with WiFi and a good all-day breakfast.

Tech News

For meetings that should be an email? There’s an app for that

(TECH NEWS) If you’re tired of having your precious work time taken up by useless meetings, there may be a solution.

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Have you ever attended a meeting that turned out to be a waste of time and set you back on your work? I’m going to go out on a limb here and assume that every person reading this article is nodding in agreement.

Meetings, if executed appropriately (and sporadically,) can be effective. However, having weekly (or even daily) meetings that are designed to catch-up or give reports can add up to a ton of wasted time.

Across the board, meetings are generally geared towards productivity, and oftentimes they are counterproductive. So, how can you still get that need for touching-base with employees while still being productive? StandupMeet might just have the answer for that.

StandupMeet is a tool designed to make meetings more productive and agile. According to their statistics, more than $37 billion per year are being spent on unproductive meetings.

The main features include: the digitization of meetings, the instantaneous sharing of minutes, and the ability to assign actions and keep track of progress.

By making the meetings digital, you organize meeting points in one place. Decisions, actions, and key points can be logged in real time and accessed before the meeting.

This makes projects more agile and helps to increase critical success factors.

With instantaneous sharing of minutes, you can collaborate and share minutes of the meeting, key result areas, and action points. This is also done in real time and is shared with colleagues to make sure that each person is on the same page.

Finally, by assigning actions and keeping track of projects helps to ensure data integrity and provides accountability to each team member. Automated reminders are available so that you can spend your time on the more valuable tasks first.

In addition, StandupMeet also offers: project wised meeting, customized meeting types, organized agendas, shareable meeting minutes, accountability, reminders to ensure time is being appropriately applied, recurring meetings, conflict-free meeting scheduling, locations, automated follow ups, automatically tracked action points, and flexibility across time zones.

This can save time and increase productivity for on-site workers and can also be beneficial for teams that are remote.

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Business Finance

Personal finance steps every freelancer must take to avoid ruin

(FINANCE) The government shutdown showcased financial instability, but what do people that have no paycheck guarantee need to do to be secure?

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In light of the recent government shutdown, there has been a lot of attention in regards to how missing paychecks impacts the average American. Most Americans don’t have a regular savings account and could not handle a $1,000 emergency, let alone miss practically a month of pay.

While things look positive for the backpay of those government workers, we all could benefit from some careful reflection about the precarious nature of our personal finances.

Particularly those of us who don’t receive a regular paycheck.

Entrepreneurs and those invested in the gig economy have volatile incomes, and literally no promise of a paycheck ever – that can impact your personal finances in a number of ways.

Variable incomes are normal for this group and can impact entrepreneurs in ways as simple as handling debt.

If this is you – here a few things to keep in mind that can help you deal with the volatility of living on a variable income and handling your personal finances.  

  • Set up an emergency fund. Start with 500 if you have too, and remember this an emergency fund for your personal expenses, not your business. If you have an emergency fund, make sure you identify what an emergency is and also be prepared to put money back when it comes out. If you have a hard time not spending money in front of you, put your money in a local bank or CU that you don’t have immediate access too.
  • Stick to a budget. when you can’t forecast your income appropriately, controlling expenses is so critical it’s the few things that are in your control.
  • Don’t mix business with personal. While you may be pouring your personal energy and time into your start up or gig, be careful about mixing expenses for two reasons: First, it messes up your budget. You need to have separate budgets for personal and business. Second, there could be tax challenges – consult a tax professional for more information. Here’s a little primer to get you started.
  • Save for retirement. There are tax benefits and come on, don’t wait till you can’t work anymore. Also, an IRA IS NOT AN EMERGENCY FUND.
  • Practice good financial behaviors. Automate bill pay. Online statements. Digital receipt tracking. The more you can automate your life, the better you are. You already have so many demands on your time, reduce that so you can spend more time doing what you love and what matters.
  • Consider diversifying your income. Either ensure you have multiple strings or a backup gig (even if it’s just uber driving); or be prepared to do temporary or contract labor during your slow seasons.

The path to entrepreneurship is rough. What we can learn from the very struggles of the federal employees and the government shutdown is that if the government can be unstable, those of you who work in the world of startups, gigs, and entrepreneurship, need to be even more on our toes. The “normal recommendation” for saving is 10% of your income, but normal may not be enough for you. Be prepared and save (more).

Disclaimer: I am neither a tax or investment professional. This is personal financial advice and I encourage you to visit a professional if you need more specific plans of action.

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Business Finance

Delivery startups skim customer tips to pay employees #wth

(FINANCE) Grocery delivery startups are flourishing, but stealing from employees isn’t a sustainable move…

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Popular grocery app Instacart has been using customers’ tips to pay its guaranteed $10/hour rate to employees, rather than using the tips as, you know, bonus money paid to workers on top of their normal pay. The way that you’d expect something called a “tip” to work.

According to the report, “Instacart confirmed that when its payment algorithm determines a driver should be paid below that guaranteed $10, the company uses the customer’s predelivery, ‘up front’ tip to cover the difference. The ‘up front’ tip is automatically set to 5% on the Instacart app; if the customer removes the tip, and the payout would be below $10, Instacart itself covers the cost.”

In this system, the customer’s tip for the deliverer subsidizes the company’s commitment to its employees. Once the change to the tipping policy was announced in workers began complaining about how it affected their earnings in 2017.

Even though the app’s customers have taken to social media to compare the policy to wage theft, the practice is actually legal. Because Instacart and other apps in the gig economy classify their workers as contractors instead of employees, they do technically still get 100 percent of the tips in their wages (even if the company doesn’t supply the same percentage of the wage they’d give the worker without the customer throwing in).

This kind of payment structure may be familiar to you if you’ve ever working in restaurants, bars, or another establishment that uses subminimum wages.

Sadly, Instacart is not the only grocery app that uses a dodgy tipping system. Shipt, DoorDash, and others have similar tipping policies. And they aren’t interested in changing them after all this week’s backlash.

If you’re concerned about making sure that you’re supporting the contractors for these grocery delivery services, some of the contracted workers have requested that you provide the tip in cash instead of tipping through the app and activating its algorithm.

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