The SEC just handed Bitcoin a huge setback

The Securities and Exchange Commission has denied the application for the Winklevoss Bitcoin Trust ETF, in a stunning defeat for its founders, the Winklevoss Twins. In an order today, the commission found that the proposed fund was too susceptible to fraud, due to the unregulated nature of Bitcoin. The result is a major setback for the fund, and a frustrating false start for the crypto-currency at large.

Source: The SEC just handed Bitcoin a huge setback – The Verge

Facebook’s Filter Bubble Is Getting Worse

It wasn’t only about his News Feed list: He also tried to use the Facebook search function, also to no avail. It wasn’t that there were no posts about how great the Leave victory was. It was that Facebook, having identified him as a Remain voter, just wasn’t allowing him to see them.

Source: Facebook’s Filter Bubble Is Getting Worse

How I Hacked Facebook, and Found Someone’s Backdoor Script

Here I’d like to explain some common security problems found in large corporations during pentesting by giving an example.

Source: How I Hacked Facebook, and Found Someone’s Backdoor Script | DEVCORE 戴夫寇爾

A brief summary, the hacker created a proxy on the credential page to log the credentials of Facebook employees. These logged passwords were stored under web directory for the hacker to use WGET every once in a while

Help, I’m Trapped in Facebook’s Absurd Pseudonym Purgatory

omeone reported my account as pseudonymous, and Facebook kicked me out. To get back in, I must provide various forms of identification proving the authenticity of my username. I’m not going to.

I am one of many casualties of Facebook’s recently rejiggered “authentic name” policy, wherein anonymous users can report a name as fake and trigger a verification process.

Source: Help, I’m Trapped in Facebook’s Absurd Pseudonym Purgatory | WIRED

You get what you pay for.

Why Facebook is stockpiling Blu-ray discs

Facebook is now experimenting with a storage prototype that uses racks of Blu-ray discs instead of hard drives. The discs are held in groups of 12 in locked cartridges and are extracted by a robotic arm whenever they’re needed.

One rack contains 10,000 discs, and is capable of storing a petabyte of data, or one million gigabytes.

via Why Facebook is stockpiling Blu-ray discs – Aug. 21, 2014.

‘What’s Oculus Rift?’ And Other Questions About Facebook’s New Foray Into Virtual Reality

But if Oculus is so great, then why do people seem so surprised that Facebook has acquired it?

Partly it’s that Oculus, despite its popularity among gamers and its buy-in from the tech community, is still a small start-up. (It got its start on Kickstarter, where, in a 2012 campaign that sought $250,000 in funding, it raised more than $2 million. It remains one of Kickstarter’s most successful campaigns.) And, furthermore, Oculus has been focused on what many have seen as a niche technology for a niche demographic—hard-core gamers 

via ‘What’s Oculus Rift?’ And Other Questions About Facebook’s New Foray Into Virtual Reality – Megan Garber – The Atlantic.

A Close Look at the NSA’s Most Powerful Internet Attack Tool

Rather than go through the bureaucratic fight to move the attack logic into “system low” (and co-located on the wiretap), the NSA sought to work around it in the case of QUANTUMHAND. Instead of targeting just any web connection for exploitation, it targeted persistent “push” connections from Facebook, where a user’s browser would leave an idle connection open, waiting for a command from the server.

This way, even the slow, broken, classified architecture could exploit Facebook users. Sadly for NSA and GCHQ (and FSB, and DGSE, and every other spy agency), Facebook turned on encryption a few months ago, which should thwart this attack.

via A Close Look at the NSA’s Most Powerful Internet Attack Tool | Wired Opinion | Wired.com.

The biggest limitation on QUANTUM is location: The attacker must be able to see a request which identifies the target. Since the same techniques can work on a Wi-Fi network, a $50 Raspberry Pi, located in a Foggy Bottom Starbucks, can provide any country, big and small, with a little window of QUANTUM exploitation. A foreign government can perform the QUANTUM attack NSA-style wherever your traffic passes through their country.

WhatsApp, Bought by Facebook for $19 Billion, Promotes a Radical Anti-Corporate Message

The eye-popping price tag—about one-tenth the entire value of Facebook—is the shocker that’s drawn much media notice. But there’s another element to the story that is astounding: Koum and Acton have published a manifesto that radically critiques the foundation of modern capitalism—advertising—and denounces materialism. Facebook’s business model, of course, depends upon both.

via WhatsApp, Bought by Facebook for $19 Billion, Promotes a Radical Anti-Corporate Message | Mother Jones.

Will Koum and Acton become part of the Borg they so eloquently decried? The first rule of Fight Club was “You do not talk about fight club.” The second rule was “You do not talk about fight club.” Now that Koum and Acton are billionaires and über-players on the tech scene, will they continue to spread their anti-consumerism, tech-is-for-the-people gospel? Will they change Facebook, or will Facebook change them?