If you don’t follow the often-shady world of Bitcoin , you may not be familiar with Bitcoin Savings and Trust (BTCST), a virtual bitcoin-based hedge fund that many suspected of being a scam. BTCST shut down in August 2012, and on Wednesday the Securities and Exchange Commission (SEC) formally charged its founder, Trendon Shavers, with running a Ponzi scheme. In a statement , the SEC said Shavers “raised at least 700, 000 Bitcoin in BTCST investments, which amounted to more than $4.5 million based on the average price of Bitcoin in 2011 and 2012 when the investments were offered and sold.” The government’s financial regulator alleges that Shavers violated a number of federal financial regulations. In court documents , the SEC wrote: Read 2 remaining paragraphs | Comments
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Texas man raised over $4.5M in Bitcoin Ponzi scheme, feds allege
A great artist can make beauty out of any medium, no matter how limited. 97-year-old Hal Lasko embodies this concept. Instead of painting with dozens of expensive brushes or high-end software suites, Lasko uses a tool most of us have used and abandoned years ago—Microsoft Paint from Windows 95. Read more…
The National Security Agency (NSA) is a ” supercomputing powerhouse ” with machines so powerful their speed is measured in thousands of trillions of operations per second. The agency turns its giant machine brains to the task of sifting through unimaginably large troves of data its surveillance programs capture. But ask the NSA as part of a freedom of information request to do a seemingly simple search of its own employees’ e-mail? The agency says it doesn’t have the technology. “There’s no central method to search an e-mail at this time with the way our records are set up, unfortunately, ” NSA Freedom of Information Act officer Cindy Blacker told me last week. The system is “a little antiquated and archaic, ” she added. Read 7 remaining paragraphs | Comments
The social network has embarked on a new test program that would see ads for mobile games appears as notifications, says AllThingsD. [Read more]