* Posts by Jonathan 29

223 publicly visible posts • joined 10 Nov 2009


Apple Pay's Brit biz bashed by banks planning to Zapp it out

Jonathan 29

Zapp could be great

Zapp is owned and run by Vocalink which manages Faster Payments and all your wages and bank transactions. Zapp just makes it possible to pay in real time a shop directly from your bank just as if you had setup a payment online. That means no fees for you and no fees for the merchant. Apple Pay obviously has lots of fees that have to be paid and lots of potential chargeback issues.

The only downside to Zapp as I can see is that are relying on banks to roll it out using ther own apps which may be highly inconsistent and confusing for consumers.

Jonathan 29

Re: Pingit and Zapp

I am not sure Zapp will be the consumer name. The current branding logo is Pay By Bank.

Don't pay for the BBC? Then no Doctor Who for you, I'm afraid

Jonathan 29

Re: Telly Tax exit stage right!!

Even if nothing else changes, it is an absolute certainty that the license will be amended to include anyone who watches catch up tv services online.

What kind of generation doesn't stick it to the Man, but to Taylor Swift instead?

Jonathan 29

market value

For hundreds of years musicians have survived by touring the country and playing for tips. If they were lucky and talented they could get patronage from a wealthy supporter of the arts. All that is happening is that we are returning to this tried and tested model.

The generation that screwed this system up was once again the baby boomers who funded the creation of giant music companies and fuelled the egos of self entitled singers and musicians who believe that because they can write 2 catchy songs per album and sing in tune should be excessively compensated for life. Fuck em.

Scientists skeptical of Lockheed Martin's truck-sized fusion reactor breakthrough boast

Jonathan 29

Re: 10 years

Nuclear fusion has always been 50 years away not 10. The reason isn't so much science though as politics. There have been funding issues and politicians spent years just arguing about where they were going to build the test reactor. 50 years until commercial reactors are online as long as the project is sufficiently funded and committed to.

Beardie Branson backs Blockchain's Bitcoin bandwagon

Jonathan 29


He invests in lots of businesses that provide alternatives to traditional bank services such as TransferWise. Given he owns a bank as well I guess you would call that effective hedging or indecisive gambling.

Microsoft's nightmare DEEPENS: Windows 8 market share falling fast

Jonathan 29

Sticking with 7

I have had a quick look over Windows 10, but I can't see any compelling reason to upgrade. Maybe if it was free, but otherwise I probably won't bother. I keep looking at Chromebooks and think it might be time to take them seriously.

Scrapping the Human Rights Act: What about privacy and freedom of expression?

Jonathan 29


I doubt there is another country in the world where removing a person's rights to life, liberty and security would be a vote winner.

PayPal goes crypto-currency with Bitcoin

Jonathan 29

Investing in bitcoin

If you put your money into bitcoin or other non income-producing assets that are dependent on what someone else values them in the future, you are in speculation, not investing

Picture the world’s entire gold supply melted together into a cube 68 feet (21 meters) on each side valued at $8 trillion. For the same amount, an investor could purchase all the farmland in the US, 11 replicas of Apple Inc or 20 Googles, and still have about $1 trillion of walking around money.

A century later, the farmland will be producing valuable crops no matter the currency, and dividends from the companies would probably add up to trillions of dollars. The 170,000 metric tons of gold will be unchanged in size and still incapable of producing anything. You can fondle the cube, but it will not respond.

Apologies to Warren Buffett

Troll or thief? User claims Bitcoin founder Satoshi Nakamoto dox sabotage

Jonathan 29

Re: Un-Unknown hacker

Every single day Bitcoin reminds me why markets need regulation. Scam after scam after scam.

Jonathan 29

Un-Unknown hacker

Rival hackers posted the identity and contact information of the hacker and the hacker's entire family on pastebin yesterday. Bitcoin really brings the scum to the surface.

Payment security bods: Nice pay-by-bonk (hint: NO ONE uses it) on iPhone 6, Apple

Jonathan 29

Re: Obvious question.

As with most things in Android land it is a mess of competing carriers, handset manufacturers and os versions. Everyone wants to cream money off of mobile payments, but they can't agree on how. Apple should help them come together.

Scared of brute force password attacks? Just 'GIVE UP' says Microsoft

Jonathan 29

Password harvesting

There must be hundreds of websites that are setup purely for the means of attracting users and harvesting passwords. It is such an obvious scam. A completely different password for each site is a minimum in my book.

Brainboxes caught opening Bitcoin fraud emails. Seriously, guys?

Jonathan 29

Re: Huh ?

I am guessing the people who click on spam are also probably the least likely to have 2fa set up on their account. It isn't mandatory.

Top money men face up to 2 YEARS in slammer for neglecting to spot crim-cash activity

Jonathan 29

Re: @Jonathan 29

I am confused that you are confused. Kraken and Cryptsy do the selfie thing. Bitstamp has a fairly long AML procedure. I wouldn't use BTC-E if you paid me. Any exchange that wants to operate within the law should have stringent Anti Money Laundering/Know Your Customer rules in place.

Jonathan 29

Re: In other news

Firstly, it is bitcoins not BitCoins.

Secondly, the price has been falling pretty consistently since December.

Thirdly, there is no easy way of acquiring bitcoins anonymously. All the exchanges require you to upload identification and some want selfies of you with your id. You might be able to mine or find a trusted source on localbitcoins, but mining is barely profitable and there have been charges filed against localbitcoin sellers for money laundering.

Amazon takes swipe at PayPal, Square with card reader for mobes

Jonathan 29

Swiper no swiping

I happened to be in line behind a bunch of American tourists the other day trying to pay by credit card. The shop only had an EMV (chip and pin) reader, so the poor girl had to go to the back to get an old card imprinter and be taught how to use it.

I dare say that by the time American banks have rolled out their new fangled dangled cards, the US will be the market leaders in contactless biometric secured mobile wallets, just as they were behind in mobile phone technology, but eventually bought and destroyed Europe's best known phone manufacturer.

Computing student jailed after failing to hand over crypto keys

Jonathan 29

Re: Are there any defenses to this law?

The maximum in a national security case or child abuse case is 5 years. I would advise not forgetting your keys.

The defence would have had to show that the person to whom the disclosure notice was given was not in possession of the keys at the time.

Jonathan 29

Failure to hand over the password is an offence in and of itself. They don't have to prove anything else.

Jonathan 29

Re: Hang on a minute ...

Forgetting a password can't be a valid excuse or what's the point. Sending something illegal that can be tracked back to you sounds like an odd thing to do, but go ahead if you want to see Rolf's wobble board.

Euro banks warned off Bitcoin as Canada regulates it

Jonathan 29

Re: Er, isn't this like...

Shares can be manipulated, especially small caps, which is why there are usually a lot of regulations about what you can and can't do. Sensible regulation and rules that make it clear who the lead developers are should be welcomed.

Banks, like people can get pulled in by hype and risk more than they ought on very risky investments. Since they have recently shown themselves incapable of self restraint, it seems like a very good idea to warn banks against bitcoin investments.

Jonathan 29

Re: @ Jonathan 29 Cash... ?

Bank accounts are insured by the Government for up to £85,000. Boring, but about as safe as it gets. If you are worried about societal collapse, I guess gold and chickens.

Jonathan 29

Bitcoin is more stable and less crooked - are you kidding?

Nitroglycerin is more stable than bitcoin and to be honest I would sooner do business in Mos Eisley.

Jonathan 29

Re: Cash... ?

The banks would dearly love to get rid of grubby cash from their nice banks and preferably grubby people too. It is also somewhat harder to steal cash from my wallet over the Internet, but I would think the same advice applies. It is not a good idea to store more than a few hundred pounds in cash or bitcoin.

MIT and CERN's secure webmail plan stumped by PayPal freeze

Jonathan 29

Re: WTF is anyone still using PayPal for?

Many companies are entering this space. Most recently Amazon announced they were going to be expanding Amazon payments for 3rd parties. There are no monthly fees.

VIDEO SELFIE DRONE: 'AirDog' UAV follows you everywhere you go

Jonathan 29

Cheaper alternative

Also using the GoPro3 is the possibly better and cheaper hexo.


PoW! Academics KO Bitcoin mining mammoths

Jonathan 29


I believe a singular ASIC operation will most likely come to dominate this proposed system. Individuals and smaller enterprises can currently make some profits providing they are members of the big successful pools. As the article states, time is everything with depreciating hardware and smaller pools make less money. This is one of the reasons GHash has grown so big and why miners are reluctant to leave. Take away the pools and there won't be many people left who can profit.

If ASIC manufacturers can't sell hardware to pools or individuals they will either stop making the stuff or focus on becoming a manufacturer/miner. The most successful companies will come together through mergers to take a greater share of profits until we are left with 1 or maybe 2 organisations responsible for the security of Bitcoin.

US Marshals seek buyer for Silk Road's Bitcoin

Jonathan 29

Re: Um, what?

Dumping that many coins on an exchange would cause bitcoin to implode and you would never get their current value. Besides which the biggest exchanges operate out of Bulgaria and Slovenia and are barely legitimate themselves.

Jonathan 29

Re: Doing it wrong.

Getting 80% of their value in one transaction is better than the time wasted administering multiple auctions.

Jonathan 29

Re: Why is it ironic?

These are Silk Road coins. The coins found in possession of Ross William Ulbricht will be dealt with after trial.

Dogevault praying backups work after confirming attack

Jonathan 29


Getting the data from the backup will not magically restore the coins, but it will help identify which users lost money and how much. This will be important if the operator or the community chooses to reimburse those who lost out as they did after another online dogecoin wallet site was hacked at Christmas time.

In the future we will probably move towards mandatory multi-signature transactions. That means that an attacker will have to compromise several servers and offline key storage areas to move coins. Please remember that all crypto currency is an experiment in progress. Bitcoin and dogecoin are in beta at the very least and serious money should not be invested unless you can afford to lose it.

Most sites do store the bulk of their coins in offline storage. We will have to wait to see why this wasn't the case with dogevault if the coins have indeed been stolen.

Jonathan 29

Re: Cheezburger

The Cheezburger connection is more accurate than you know. The co-founder of the successful web meme company I Can Has Cheezburger, Eric Nakagawa, is a prominent supporter of dogecoin and spearheaded one of the charity initiatives there to build water wells in Kenya using dogecoin donations.

Morons is a little unfair, but 'morons' is a large demographic.

Whaddaya mean, No refund? But I paid in Bitcoins! Oh I see...

Jonathan 29

Re: Bitcoin - the new Second Life

I ain't Spartacus

I am interested in all crypto not just bitcoin. New coins are experimenting with ways to limit expensive mining operations. Hull City council for example are experimenting with a new Crypto that will be centrally mined and distributed for community work. They will be doing all the mining on a couple of gaming machines. Other coins are experimenting with different algorithms or community funded mining operations which may run at a loss. Even in bitcoin the miners are essentially a utility rather than a 3rd party. I don't think any coin has found the right balance yet, but give it time.

Jonathan 29

Re: Bitcoin - the new Second Life

Beenz and every other digital currency pre-bitcoin used a central infrastructure to manage it. Bitcoin-like currencies do not need a 3rd party, do not need central servers, employees, HR, customer service reps or anything else that inflates the cost of the transaction. It is pure peer to peer and you absolutely can maintain an entire global transaction payment system on very low end hardware. Innovative solutions to a 51% attack are being worked on.

Bitcoin and all crypto has an acquisition problem in that you currently need to use exchanges or invest in mining hardware in order to acquire coins. My hope is that as this technology progresses you will be able to acquire coins as you would acquire traditional money - by exchanging goods and services for them. The crypto Ebays and Craigslists are all a little primitive at the moment, but it seems like these would be a good entrance route for many.

Jonathan 29

Re: Bitcoin - the new Second Life

There are things that we can do with digital crypto money that we cannot do with traditional payment methods. We can monetise comments on a forum or allow individuals to tip a video or a picture on a website. We can open up a whole layer of nano payments below £1 that would be uneconomic to do in any other way. Whether internet tipping becomes popular remains to be seen, but it is a unique selling point.

Jonathan 29

Re: Bitcoin is strongly deflationary

There are other crypto currencies that agree that deflation is a bad way to grow a currency. Dogecoin is adopting a 5% annual inflation after its initial mining run comes to an end in January and then gradually tapering it back.

MtGox remedy worse than the disease says Kaspersky researcher

Jonathan 29

Re: Who the hell leaves their wallet without encryption?

You could write your password down or even your private key, but personally I would have to write my wife detailed instructions which I am sure a burglar could follow too. I am however inclined to rate burglars with more intelligence than they usually have - the last one posed for my security camera.

Jonathan 29

Re: Who the hell leaves their wallet without encryption?

I obviously understand what you are saying, but there are a few good reasons. You might want to leave an unencrypted wallet as a canary to detect whether someone had planted something on your computer. If funds from the open wallet disappear you know you have to take immediate action to protect the other. Secondly, have you given any though to what happens to your wallet in the event of your death or a head trauma that causes you to forget your passwords? An unencrypted wallet in cold storage might be better for your family than a heavily encrypted one.

I read a lot of these stories about coins being stolen and I am very impressed with the level of skilled manipulation and hacks. I am on the fence about bitcoin banks, but when people are breaking through 2 factor security to get at wallets it is a little worrisome.

Bitcoin or bust: MtGox files for bankruptcy protection

Jonathan 29

Re: News just in

Transaction malleability is not a million miles away from credit derivative swaps though is it? Take something, call it something else, sell it on and leave the original holder with the bad debt.

MtGox accepted new customers JUST DAYS before collapse

Jonathan 29

Sinking boat

i understand all the schadenfreude surrounding MtGox and the feelings of superiority that even bitcoiners feel because they were too sensible to use it, but lets be clear - all the crypto exchanges are operating on very shaky ground.

There isn't a country in the world that has welcomed bitcoin and several look like being 2 steps away from outright bans. The US is using the same tactic it used against the poker sites and accusing everyone within reach of money laundering and scaring people into submission.

It is unsafe to leave large amounts online anywhere currently and pretty risky leaving it on a PC that is connected to the Internet. So other than not being able to use it safely, bitcoin is great.

Russian cybercrooks shun real currencies, develop private altcoins

Jonathan 29

'criminals don't trust Bitcoin'

Of all the damning things I have heard about Bitcoin this has to be one of the worst. It was a good run, but I think it is time to pack up and go home now.

THOUSANDS of Tesco.com logins and passwords leaked online

Jonathan 29


The data is well worth a quick skim through. Quite impressive how many people think disney and tigger are acceptable passwords. Stop it.

Jonathan 29

parallel lives

I checked the data and just found out that someone who has the same name as me also has a dog with the same name as my dog. It took me 10 minutes to work out whether it was me and I had been drunkenly creating accounts or not.

Samsung leaps out of volume PC game as UK market crashes

Jonathan 29

Re: Surprised/Not Surprised....

I suspect most manufacturers were waiting to see if there would be a sudden surge of interest in new Windows PCs over Christmas and New Year. As this clearly failed to materialize now is the perfect time to shutter things up.

Woz he talking about? Apple co-founder wants iPhones to run Android

Jonathan 29

As I recall probably incorrectly Woz championed putting iTunes on Windows when others at Apple thought the iPod would be best served by keeping it OS exclusive. That one decision setup Apple for the next decade.

I am also pretty sure Microsoft do support Linux on Azure.

Apple ticks off trigger-happy Bitcoiners with App Store snub

Jonathan 29

Re: Suck it, fanbois

Apple have just removed an app from the store, they are not deleting all copies of it. This isn't quite as bad as Amazon who actively erased books from people's kindles without warning. There's all sorts of things I would like on the app store including XBMC and the nudey ladies, but you pay your money and make your choice.

I don' understand all the violence though. Haven't they already given Apple their money. I would just jailbreak it, though I suppose the video of this would be less dramatic.

BSkyB sees first half pre-tax profit tumble as sales climb

Jonathan 29

Re: if only they would offer

I was paying £10 a month through the Sky HD sub last year just so I could get F1. This has been changed now and I think the only way to watch F1 is through a sports subscription or the £10 a race fee. Not good.

Altcoins will DESTROY the IT industry and spawn an infosec NIGHTMARE

Jonathan 29

Re: Popular delusions and the madness of crowds

Please bear in mind that Mackay's book is extremely biased overall, uses a plagiarized account of the tulip bubble and the book itself was written to help pump up a bubble in railway stocks which Mackay was invested in. The best way to explain why railway stocks weren't a bubble was to discuss previous bubbles and why this time was apparently different.

Cryptocurrencies now being pooped out by cartoon cat

Jonathan 29

Re: Many coin, very whimsy

"I'm sticking with a pile of gold."

I might buy some gold when the price stops dropping. Maybe when it hits £300 oz.