Are the TikTok deepfake videos of Tom Cruise doing magic and playing golf a threat to global democracy? Not exactly. “[T]he reality is that they took a lot of time, technical expertise, and the skilled performance of a real actor,” reports VICE News. “Rather than predicting a dark future of disinformation for the masses, they’re simply another example of what can…
Tag: Money
How a 10-Second Video Clip Sold For $6.6 Million
In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million. Reuters reports: The video by digital artist Beeple, whose real name is Mike Winkelmann, was authenticated by blockchain, which serves as a digital signature to certify who owns it…
Popular LA Restaurant Closes After High-Tech ‘Dine and Dash’ Scheme
quonset writes: “The Korean Fusion Cafe ‘Spoon by H’ had the ingredients to become an L.A. success story but is the epitome of a small business, with owner and chef Yoonjin Hwang working 15-hour days to run the restaurant with her mother and brother,” reports CBS News. “‘We have no staff. We have no cooks. I have to do everything by…
China Charges Ahead With a National Digital Currency
The electronic Chinese yuan is now being tested in cities such as Shenzhen, Shanghai and Beijing. No other major power is as far along with a homegrown digital currency. From a report: Annabelle Huang recently won a government lottery to try China’s latest economics experiment: a national digital currency. After joining the lottery through the social media app WeChat, Ms. Huang,…
Banks in Germany Tell Customers To Take Deposits Elsewhere
Interest rates have been negative in Europe for years. But it took the flood of savings unleashed in the pandemic for banks finally to charge depositors in earnest. From a report: Germany’s biggest lenders, Deutsche Bank and Commerzbank, have told new customers since last year to pay a 0.5% annual rate to keep large sums of money with them. The banks…
Bill Gates, Elon Musk Both Warn ‘Don’t Go Too Far with Crypto Speculation’
From a report:
Microsoft CEO Bill Gates has an interesting take on who should buy Bitcoins. He being the third richest man in the world said that Bitcoins are not for him because he has less money than Tesla CEO Elon Musk. So basically anybody who has less money than Musk should not invest in Bitcoin… Gates during an interview with Bloomberg…
Vast Energy Use of Bitcoin Criticized
The University of Cambridge Centre for Alternative Finance has calculated that Bitcoin’s total energy consumption is somewhere between 40 and 445 terawatt hours (TWh) a year, with a central estimate of about 130 terawatt hours, reports the BBC: The UK’s electricity consumption is a little over 300 TWh a year, while Argentina uses around the same amount of power as the…
Why an Animated Flying Cat With a Pop-Tart Body Sold for Almost $600,000
In the 10 years since Chris Torres created Nyan Cat, an animated flying cat with a Pop-Tart body leaving a rainbow trail, the meme has been viewed and shared across the web hundreds of millions of times. On Thursday, he put a one-of-a-kind version of it up for sale on Foundation, a website for buying and selling digital goods. In the…
Amazon Gives Code.org $15 Million To ‘Reimagine’ Advanced Placement CSA
theodp writes: Amazon on Wednesday announced it has lined up the support of Governors and State School Superintendents from five ‘key states’ for a pilot that aims to reimagine the Java-based Advanced Placement Computer Science A (AP CS A) course taken by high school students for college credit. By doing so, Amazon indicated it hopes to address “the diversity gaps in…
Lawmaker Proposing ‘Grand Theft Auto’ Ban Says Video Game Contributes To Carjackings
Koreantoast writes: With the number of carjackings more than doubling in the city of Chicago during 2020, one lawmaker knows who to blame: the video game “Grand Theft Auto.” According to Chicago ABC 7, Democratic State Representative Marcus Williams believes the video game is causing the rise in carjackings, stating that “Grand Theft Auto’ and other violent video games are getting…