1 00:00:04,400 --> 00:00:07,800 Speaker 1: Welcome to tech Stuff, a production from I Heart Radio. 2 00:00:12,039 --> 00:00:14,920 Speaker 1: Hey there, and welcome to tech Stuff. I'm your host, 3 00:00:15,080 --> 00:00:18,000 Speaker 1: Jonathan Strickland. I'm an executive producer with I Heart Radio 4 00:00:18,079 --> 00:00:20,840 Speaker 1: and I love all things tech. And this is the 5 00:00:20,840 --> 00:00:25,479 Speaker 1: tech news for Tuesday, May eleventh, twenty twenty one, and 6 00:00:25,560 --> 00:00:29,000 Speaker 1: the top story is about last week's ransomware attack on 7 00:00:29,120 --> 00:00:33,520 Speaker 1: Colonial Pipeline, a company that supplies fuel across the eastern 8 00:00:33,600 --> 00:00:36,959 Speaker 1: half of the United States. In fact, according to Colonial, 9 00:00:37,280 --> 00:00:40,760 Speaker 1: it's responsible for about of all fuel delivered to the 10 00:00:40,760 --> 00:00:45,559 Speaker 1: Eastern seaboard yells Now. Details about the extent of the 11 00:00:45,600 --> 00:00:48,239 Speaker 1: attack are a little bit scarce at the time I'm 12 00:00:48,280 --> 00:00:51,720 Speaker 1: recording this, but essentially, hackers were able to lock up 13 00:00:51,760 --> 00:00:55,360 Speaker 1: at least some of Colonial Pipelines computer systems, and the 14 00:00:55,400 --> 00:00:59,120 Speaker 1: company shut down operations, probably as a measure to make 15 00:00:59,160 --> 00:01:03,040 Speaker 1: sure that the mal air wasn't spreading to those operational systems. 16 00:01:04,319 --> 00:01:08,040 Speaker 1: In case you're not familiar with the term, ransomware refers 17 00:01:08,080 --> 00:01:12,520 Speaker 1: to malware that locks up computer systems, and there are 18 00:01:12,520 --> 00:01:15,120 Speaker 1: a few different ways to do this. You might encrypt 19 00:01:15,160 --> 00:01:18,560 Speaker 1: everything on a system so that no one can see 20 00:01:18,560 --> 00:01:20,720 Speaker 1: any of their files or anything anymore, or you might 21 00:01:20,800 --> 00:01:24,959 Speaker 1: just lock it down by getting some sort of administrative access. Typically, 22 00:01:24,959 --> 00:01:28,560 Speaker 1: the attackers will leave messages explaining what their demands are 23 00:01:28,680 --> 00:01:31,920 Speaker 1: and how to meet them, and they promised to return 24 00:01:32,000 --> 00:01:35,320 Speaker 1: the system control over to the owner once those demands 25 00:01:35,319 --> 00:01:39,120 Speaker 1: are met. These days, those demands typically involved paying a 26 00:01:39,240 --> 00:01:43,920 Speaker 1: large sum of money using cryptocurrency like bitcoin, and paying 27 00:01:43,920 --> 00:01:47,440 Speaker 1: off ransomware attackers tends to be a pretty bad idea 28 00:01:47,640 --> 00:01:49,840 Speaker 1: for a couple of reasons. You don't want to pay 29 00:01:49,880 --> 00:01:52,760 Speaker 1: that ransom One reason you don't want to do it 30 00:01:52,800 --> 00:01:55,600 Speaker 1: is because there's no guarantee that the hackers are going 31 00:01:55,600 --> 00:01:58,960 Speaker 1: to make good on their promise to return control. Another 32 00:01:59,160 --> 00:02:03,080 Speaker 1: is that pay off attackers just encourages more attacks because 33 00:02:03,480 --> 00:02:06,680 Speaker 1: it proves that the strategy works. It proves that it's profitable. 34 00:02:07,120 --> 00:02:10,240 Speaker 1: So the shutdown means that colonial can't pump fuel the 35 00:02:10,240 --> 00:02:13,360 Speaker 1: way it normally would, and so US President Joe Biden 36 00:02:13,440 --> 00:02:16,399 Speaker 1: has signed a measure to allow for more fuel transport 37 00:02:16,440 --> 00:02:20,320 Speaker 1: trucks on the highways to help compensate. As I write this, 38 00:02:20,639 --> 00:02:24,040 Speaker 1: we don't have confirmation on the identity of the attackers, 39 00:02:24,320 --> 00:02:27,079 Speaker 1: but according to a former US official and a few 40 00:02:27,080 --> 00:02:31,480 Speaker 1: other unnamed sources in various news reports. The group responsible 41 00:02:32,000 --> 00:02:36,800 Speaker 1: is likely one called Dark Side. It appears that dark 42 00:02:36,840 --> 00:02:41,720 Speaker 1: Side is a relatively new hacker group, having formed perhaps 43 00:02:41,720 --> 00:02:45,760 Speaker 1: in the last year. Circumstantial evidence suggests they are based 44 00:02:45,919 --> 00:02:50,359 Speaker 1: somewhere in the former Soviet Block, as the group doesn't 45 00:02:50,400 --> 00:02:53,320 Speaker 1: target infrastructure in that part of the world, so it's 46 00:02:53,400 --> 00:02:57,720 Speaker 1: quite possible they are part of, you know, or located 47 00:02:57,760 --> 00:03:00,880 Speaker 1: within the one of those countries. We've already seen fuel 48 00:03:00,960 --> 00:03:04,960 Speaker 1: prices rise in several markets, including here in Atlanta, and 49 00:03:05,000 --> 00:03:08,160 Speaker 1: if it takes a few more days to restore operations 50 00:03:08,240 --> 00:03:12,840 Speaker 1: to colonial pipelines infrastructure, things could get worse. The attack 51 00:03:12,960 --> 00:03:17,000 Speaker 1: marks the most extreme cyber attack against US infrastructure to date, 52 00:03:17,400 --> 00:03:20,440 Speaker 1: and it really makes it clear how important cybersecurity is, 53 00:03:20,639 --> 00:03:23,359 Speaker 1: and it also illustrates the companies have to be extremely 54 00:03:23,440 --> 00:03:28,399 Speaker 1: thoughtful when implementing automation and connected systems. Automation can bring 55 00:03:28,440 --> 00:03:31,680 Speaker 1: down costs and it can boost efficiency, and it also 56 00:03:31,760 --> 00:03:34,640 Speaker 1: can mean that some of the more dangerous and dull 57 00:03:34,840 --> 00:03:37,960 Speaker 1: jobs can go to machines rather than people, freeing the 58 00:03:37,960 --> 00:03:40,880 Speaker 1: people up to do you know, more interesting work. But 59 00:03:41,000 --> 00:03:44,480 Speaker 1: it also represents a potential attack point for hackers if 60 00:03:44,560 --> 00:03:49,040 Speaker 1: it is not properly protected. So fuel prices might go up, 61 00:03:49,520 --> 00:03:52,720 Speaker 1: particularly in the short term, but I do have some 62 00:03:52,800 --> 00:03:56,520 Speaker 1: good news. According to Bloomberg, an e F electric cars 63 00:03:56,600 --> 00:03:59,600 Speaker 1: should be cheaper to produce than cars that run on 64 00:03:59,640 --> 00:04:02,680 Speaker 1: gas or diesel in the near future. We just gotta 65 00:04:02,720 --> 00:04:06,200 Speaker 1: wait until about twenty seven for that to happen. Now, 66 00:04:06,200 --> 00:04:10,320 Speaker 1: I should add that other organizations like UBS, which is 67 00:04:10,360 --> 00:04:14,480 Speaker 1: an investment bank, are a bit more optimistic with their predictions. 68 00:04:14,520 --> 00:04:19,400 Speaker 1: They suggest we might see price parody by four. This 69 00:04:19,480 --> 00:04:22,080 Speaker 1: is really big. I think most people see the value 70 00:04:22,080 --> 00:04:25,600 Speaker 1: of electric cars from an environmental standpoint, but more on 71 00:04:25,640 --> 00:04:29,680 Speaker 1: that in a second. Using electricity rather than fossil fuels 72 00:04:30,440 --> 00:04:32,479 Speaker 1: to get around has a lot of benefits, right, But 73 00:04:32,680 --> 00:04:37,080 Speaker 1: so far, electric vehicles come at a pretty hefty premium. 74 00:04:37,680 --> 00:04:41,760 Speaker 1: Sometimes governments might offer incentives like tax breaks and stuff 75 00:04:41,800 --> 00:04:45,080 Speaker 1: to encourage people to buy an electric vehicle, and that 76 00:04:45,120 --> 00:04:48,880 Speaker 1: can help offset the purchase price. But generally speaking, the 77 00:04:48,960 --> 00:04:51,760 Speaker 1: only people who can afford an electric vehicle are in 78 00:04:51,800 --> 00:04:54,520 Speaker 1: a position of relative privilege. And I'm sure there are 79 00:04:54,520 --> 00:04:56,280 Speaker 1: a lot of folks who would love to switch to 80 00:04:56,400 --> 00:04:58,800 Speaker 1: an e V, but they really just can't meet that 81 00:04:58,880 --> 00:05:02,039 Speaker 1: sticker price. Now, the main reason we could see a 82 00:05:02,200 --> 00:05:05,200 Speaker 1: drop in prices for electric vehicles is that the price 83 00:05:05,200 --> 00:05:09,040 Speaker 1: of producing batteries is coming down, Plus companies are making 84 00:05:09,080 --> 00:05:12,800 Speaker 1: dedicated production lines for e vs. The increase in efficiency 85 00:05:12,880 --> 00:05:17,800 Speaker 1: and the drop in manufacturing costs translates to lower vehicle prices. Meanwhile, 86 00:05:18,040 --> 00:05:21,479 Speaker 1: the UK plans to ban the sale of new fossil 87 00:05:21,520 --> 00:05:25,560 Speaker 1: fuel vehicles starting in twenty thirty, with the EU following 88 00:05:25,600 --> 00:05:30,560 Speaker 1: suit by and surely you've heard numerous ads from car 89 00:05:30,600 --> 00:05:34,200 Speaker 1: companies about a growing line of e V options. It's 90 00:05:34,240 --> 00:05:36,279 Speaker 1: the way of the future, which is also kind of 91 00:05:36,279 --> 00:05:39,160 Speaker 1: funny because the electric car has been around about as 92 00:05:39,200 --> 00:05:42,520 Speaker 1: long as the internal combustion automobile. It actually dates all 93 00:05:42,520 --> 00:05:45,960 Speaker 1: the way back to the nineteenth century. Anyway, I did 94 00:05:45,960 --> 00:05:49,840 Speaker 1: say that electric vehicles are more environmentally friendly, but that 95 00:05:49,920 --> 00:05:52,200 Speaker 1: needs to come with an asterisk because there are some 96 00:05:52,279 --> 00:05:55,360 Speaker 1: things that we also have to take into consideration. One 97 00:05:55,400 --> 00:05:59,400 Speaker 1: would be that the electric components, like the battery can 98 00:05:59,480 --> 00:06:04,320 Speaker 1: potentially really have some environmental costs to them, batteries in particular, 99 00:06:04,800 --> 00:06:07,280 Speaker 1: and also how we handle those when it comes time 100 00:06:07,320 --> 00:06:10,360 Speaker 1: to junk a car. That matters a lot too, because 101 00:06:10,440 --> 00:06:12,839 Speaker 1: batteries have some stuff in them that you don't want 102 00:06:12,880 --> 00:06:16,160 Speaker 1: to have leach out into the environment. Another is the 103 00:06:16,200 --> 00:06:19,080 Speaker 1: source of electricity. While more of the world is switching 104 00:06:19,200 --> 00:06:22,640 Speaker 1: over to renewable energy sources, if your area is serviced 105 00:06:22,640 --> 00:06:26,400 Speaker 1: by fossil fuel power plants, then the electricity you depend 106 00:06:26,520 --> 00:06:29,600 Speaker 1: upon is generated at a facility that's still dumping a 107 00:06:29,600 --> 00:06:33,240 Speaker 1: ton of carbon dioxide into the atmosphere, assuming that there 108 00:06:33,279 --> 00:06:36,760 Speaker 1: are not carbon capture measures in place. That is, and 109 00:06:36,839 --> 00:06:40,080 Speaker 1: most of these facilities don't have carbon capture in place 110 00:06:40,080 --> 00:06:44,240 Speaker 1: because it's expensive to put those in and unless they 111 00:06:44,279 --> 00:06:48,960 Speaker 1: are required to do it, facilities typically don't. So as always, 112 00:06:49,040 --> 00:06:51,720 Speaker 1: it is important that we take a wide look at 113 00:06:51,720 --> 00:06:54,800 Speaker 1: these issues to make sure that the solutions we put 114 00:06:54,839 --> 00:06:58,640 Speaker 1: in place actually are solutions, and it's not just shifting 115 00:06:58,720 --> 00:07:02,080 Speaker 1: pollution sources for on one spot to another but not 116 00:07:02,200 --> 00:07:05,560 Speaker 1: making any kind of progress. Now, personally, I'm all in 117 00:07:05,640 --> 00:07:09,279 Speaker 1: favor of evs taking the place of old fossil fuel vehicles, 118 00:07:09,320 --> 00:07:12,840 Speaker 1: and when paired with stuff like renewable energy, I think 119 00:07:12,920 --> 00:07:16,520 Speaker 1: it could be an enormous benefit, particularly in places where 120 00:07:16,520 --> 00:07:19,160 Speaker 1: people drive a lot, like here in Atlanta or in 121 00:07:19,240 --> 00:07:22,560 Speaker 1: Los Angeles, that kind of thing. I also have another 122 00:07:22,680 --> 00:07:25,640 Speaker 1: hacking story, but this one is from a totally different 123 00:07:25,640 --> 00:07:29,040 Speaker 1: point of view. The United States Department of Defense has 124 00:07:29,080 --> 00:07:33,120 Speaker 1: created a bug bounty program. Now, bug bounties are away 125 00:07:33,160 --> 00:07:37,760 Speaker 1: for organizations to identify and then address vulnerabilities and exploits 126 00:07:37,760 --> 00:07:42,720 Speaker 1: in their systems. Essentially, the organization says, hey, we built 127 00:07:42,720 --> 00:07:45,640 Speaker 1: this thing. You shouldn't be able to get into it, 128 00:07:45,880 --> 00:07:48,280 Speaker 1: but if you can, let us know how you did 129 00:07:48,320 --> 00:07:50,720 Speaker 1: it so we can fix it and you'll get a reward. 130 00:07:51,480 --> 00:07:55,280 Speaker 1: Some companies have been known to award really big bounties 131 00:07:55,280 --> 00:07:58,520 Speaker 1: in return for being told about various exploits and bugs. 132 00:07:59,200 --> 00:08:01,880 Speaker 1: With the d o E. The program involves all of 133 00:08:01,920 --> 00:08:04,960 Speaker 1: its publicly facing systems, So in other words, this is 134 00:08:04,960 --> 00:08:07,360 Speaker 1: all the stuff that someone should be able to interface 135 00:08:07,440 --> 00:08:10,920 Speaker 1: with without having to get behind the scenes. Uh. It 136 00:08:11,000 --> 00:08:13,960 Speaker 1: may be that if there is a vulnerability or bug 137 00:08:14,360 --> 00:08:17,720 Speaker 1: that someone could exploit that and get behind the scenes 138 00:08:18,240 --> 00:08:21,320 Speaker 1: access that would be of critical importance to know about. 139 00:08:21,920 --> 00:08:25,240 Speaker 1: So this program is looking for ethical hackers to look 140 00:08:25,240 --> 00:08:28,440 Speaker 1: for these issues. However, when it comes to rewards, it 141 00:08:28,440 --> 00:08:31,240 Speaker 1: turns out the public sector is a little bit miserly 142 00:08:31,360 --> 00:08:34,200 Speaker 1: with the payouts. When the d o D did a 143 00:08:34,360 --> 00:08:38,520 Speaker 1: trial program of this back in it paid out a 144 00:08:38,600 --> 00:08:43,280 Speaker 1: mere fourteen thousand dollars total to one thousand, four hundred 145 00:08:43,360 --> 00:08:48,120 Speaker 1: ethical hackers. Now, I do not condone criminal activity in 146 00:08:48,200 --> 00:08:51,040 Speaker 1: any sense, but I do think there might be a 147 00:08:51,080 --> 00:08:53,720 Speaker 1: lot of people out there who say, huh, well, I 148 00:08:53,800 --> 00:08:58,199 Speaker 1: could turn this bug I found in for ten bucks, 149 00:08:58,960 --> 00:09:03,400 Speaker 1: or I could exploit it or sell my knowledge of 150 00:09:03,440 --> 00:09:07,360 Speaker 1: it to someone else and potentially make way more money. Now, 151 00:09:07,360 --> 00:09:10,040 Speaker 1: of course doing that would put you at a huge risk, 152 00:09:10,679 --> 00:09:13,920 Speaker 1: but finding flaws is work. Sometimes it's a lot of work. 153 00:09:14,520 --> 00:09:17,360 Speaker 1: Ten bucks is hardly compensation for that. So hopefully the 154 00:09:17,400 --> 00:09:21,040 Speaker 1: bug bounty will maybe up the anti a little bit. 155 00:09:21,640 --> 00:09:23,960 Speaker 1: I've got a couple of stories related to Amazon I 156 00:09:24,000 --> 00:09:26,760 Speaker 1: want to cover. I've talked about the issue of fake 157 00:09:26,840 --> 00:09:30,640 Speaker 1: reviews before. Vendors will pay an organization to generate five 158 00:09:30,840 --> 00:09:34,280 Speaker 1: star reviews for their products and give Amazon customers a 159 00:09:34,320 --> 00:09:37,440 Speaker 1: false expectation of quality and value. It's always good to 160 00:09:37,520 --> 00:09:39,959 Speaker 1: dig through reviews a bit and to read them over 161 00:09:40,000 --> 00:09:42,600 Speaker 1: and see if they come across, as you know, genuine 162 00:09:42,679 --> 00:09:46,720 Speaker 1: or not. Earlier this month, a site called Safety Detectives 163 00:09:46,760 --> 00:09:50,840 Speaker 1: discovered a database containing the information of more than two 164 00:09:51,000 --> 00:09:55,960 Speaker 1: hundred thousand fake reviewers and their vendor contacts. So In 165 00:09:55,960 --> 00:09:59,800 Speaker 1: other words, this database showed both who are the people 166 00:09:59,800 --> 00:10:04,920 Speaker 1: who are creating fake five star reviews and which vendors 167 00:10:05,160 --> 00:10:11,000 Speaker 1: are requesting fake reviews. Not cool, huh. Apparently this database 168 00:10:11,080 --> 00:10:14,320 Speaker 1: was just sitting on a server and was completely unencrypted. 169 00:10:14,400 --> 00:10:18,320 Speaker 1: It didn't even have password protection, so this database was 170 00:10:18,360 --> 00:10:21,760 Speaker 1: freely accessible to anyone who had ability to get on 171 00:10:21,760 --> 00:10:25,479 Speaker 1: that server, which is a big old yikes. The scammers 172 00:10:25,480 --> 00:10:28,920 Speaker 1: thus were flying really freaking close to the sun, as 173 00:10:28,960 --> 00:10:31,800 Speaker 1: the information in the database would provide someone else ample 174 00:10:31,840 --> 00:10:35,720 Speaker 1: opportunities to turn them in or even commit identity fraud 175 00:10:35,760 --> 00:10:40,560 Speaker 1: against the scammers. Criminals making crime on other criminals, y'all. 176 00:10:41,280 --> 00:10:44,520 Speaker 1: Also in Amazon News, the company bowed to pressure from 177 00:10:44,600 --> 00:10:48,520 Speaker 1: multiple fronts, including lawmakers and brands, to crack down on 178 00:10:48,720 --> 00:10:53,000 Speaker 1: vendors offering counterfeit goods. The company first announced the development 179 00:10:53,040 --> 00:10:56,760 Speaker 1: of anti counterfeit tools back in two thousand nineteen. Those 180 00:10:56,760 --> 00:11:00,600 Speaker 1: tools got quite the workout, as over the course of 181 00:11:00,640 --> 00:11:03,640 Speaker 1: the pandemic, more customers were turning to online shopping is 182 00:11:03,679 --> 00:11:07,560 Speaker 1: a way to do pretty much everything while sitting at home. 183 00:11:08,040 --> 00:11:13,360 Speaker 1: According to Amazon, the company blocked ten billion listings suspected 184 00:11:13,400 --> 00:11:17,240 Speaker 1: of being counterfeits and phonies over the last year ten 185 00:11:18,200 --> 00:11:22,600 Speaker 1: billion with a B. Apparently, a machine learning system is 186 00:11:22,679 --> 00:11:27,600 Speaker 1: powering Amazon strategy. Now, these systems, if they're created properly, 187 00:11:28,040 --> 00:11:32,280 Speaker 1: get better as they get used. They spot telltale signs 188 00:11:32,320 --> 00:11:35,000 Speaker 1: of counterfeits, and that creates a flag that allows Amazon 189 00:11:35,080 --> 00:11:37,360 Speaker 1: to block the listing before anyone can try and buy 190 00:11:37,400 --> 00:11:41,160 Speaker 1: the bogus product. Typically, the way counterfeiters get stuff on 191 00:11:41,200 --> 00:11:43,840 Speaker 1: Amazon in the first place is to use third party 192 00:11:43,920 --> 00:11:47,360 Speaker 1: vendors who have virtual store fronts on Amazon. The company 193 00:11:47,400 --> 00:11:50,120 Speaker 1: benefits from these relationships, and I think this approach to 194 00:11:50,160 --> 00:11:54,600 Speaker 1: detecting counterfeiters is in many ways a measure to head 195 00:11:54,600 --> 00:11:58,880 Speaker 1: off potential legislation. One proposed bill in the US is 196 00:11:58,920 --> 00:12:03,120 Speaker 1: called In for Consumers Act, which would require third party 197 00:12:03,240 --> 00:12:06,480 Speaker 1: vendors to include their name and address so that shoppers 198 00:12:06,480 --> 00:12:09,000 Speaker 1: could see who they were and where they are, and 199 00:12:09,120 --> 00:12:11,520 Speaker 1: they would also need to go through a verification process 200 00:12:11,559 --> 00:12:16,480 Speaker 1: with Amazon. Now, I'm all for the verification process and accountability, 201 00:12:16,520 --> 00:12:19,400 Speaker 1: but i also think this particular approach has some privacy 202 00:12:19,440 --> 00:12:23,280 Speaker 1: and security risks associated with it. Anyway, it's an interesting 203 00:12:23,360 --> 00:12:27,880 Speaker 1: use of technology to handle an age old scam. You know, hey, kid, 204 00:12:28,360 --> 00:12:31,160 Speaker 1: you want to buy a watch? If you're still trying 205 00:12:31,200 --> 00:12:34,520 Speaker 1: to get a PlayStation five, I've got some discouraging news. 206 00:12:34,960 --> 00:12:40,160 Speaker 1: Sony CFO Hiroki Totoki has said that shortages and components 207 00:12:40,160 --> 00:12:43,560 Speaker 1: have slowed down production, and that he anticipates the demand 208 00:12:43,600 --> 00:12:47,120 Speaker 1: for the PS five will outpace the supply all the 209 00:12:47,120 --> 00:12:50,440 Speaker 1: way into twenty two. The company has sold nearly eight 210 00:12:50,440 --> 00:12:54,199 Speaker 1: million units so far and plans to produce nearly fifteen 211 00:12:54,240 --> 00:12:57,200 Speaker 1: million more by next April. So it's not like there 212 00:12:57,240 --> 00:13:00,200 Speaker 1: won't be any new consoles out there, but rather of that, 213 00:13:00,320 --> 00:13:03,080 Speaker 1: depending on where you are and when you check, you 214 00:13:03,160 --> 00:13:05,440 Speaker 1: might find it difficult to get your hands on one. 215 00:13:05,920 --> 00:13:08,200 Speaker 1: I'm sure a lot of factors came into play here, 216 00:13:08,440 --> 00:13:13,360 Speaker 1: from the pandemic to supply chain problems to semiconductor shortages. Personally, 217 00:13:13,440 --> 00:13:16,520 Speaker 1: I'm still rocking the last gen consoles, and if I'm 218 00:13:16,559 --> 00:13:19,080 Speaker 1: being totally honest, I haven't played anything on them in 219 00:13:19,200 --> 00:13:22,480 Speaker 1: ages because I shifted mostly to PC games. But I 220 00:13:22,480 --> 00:13:28,480 Speaker 1: do plan on getting the next gen consoles, you know, Maybee. 221 00:13:29,040 --> 00:13:32,760 Speaker 1: Sticking with video games, video game developer and publisher Capcom 222 00:13:32,800 --> 00:13:36,400 Speaker 1: has posted its fourth consecutive record breaking year in terms 223 00:13:36,440 --> 00:13:39,679 Speaker 1: of profits. The company has been writing a string of 224 00:13:39,720 --> 00:13:44,280 Speaker 1: big successes, having recently released the eagerly anticipated Resident Evil 225 00:13:44,520 --> 00:13:47,839 Speaker 1: Village title. Now, I can't say anything about Resident Evil 226 00:13:48,000 --> 00:13:50,960 Speaker 1: Village or Resident Evil eight because I haven't played it, 227 00:13:51,320 --> 00:13:54,120 Speaker 1: but I will say it has already had an enormous 228 00:13:54,200 --> 00:13:57,360 Speaker 1: impact on the cosplay community. As it turns out everyone 229 00:13:57,480 --> 00:14:02,840 Speaker 1: wants to dress up as Lady Demotrusk, a tall vampire lady, 230 00:14:02,880 --> 00:14:06,080 Speaker 1: and honestly, who could blame them? Games like the remaster 231 00:14:06,280 --> 00:14:09,839 Speaker 1: of Residentieval three and the release of Monster Hunter Rise 232 00:14:09,880 --> 00:14:13,160 Speaker 1: have been big smash successes for the company. I think 233 00:14:13,200 --> 00:14:16,000 Speaker 1: Capcom's success is due to multiple factors that are all 234 00:14:16,040 --> 00:14:20,400 Speaker 1: converging simultaneously. First, the company has been making some really 235 00:14:20,480 --> 00:14:24,600 Speaker 1: compelling games. Second, Capcom's titles have started to really catch 236 00:14:24,640 --> 00:14:27,479 Speaker 1: on in the West, not that Capcom was a newcomer 237 00:14:27,680 --> 00:14:30,960 Speaker 1: to Western audiences, but rather that titles are starting to 238 00:14:31,040 --> 00:14:33,720 Speaker 1: get more of a following here when in the past 239 00:14:34,040 --> 00:14:37,320 Speaker 1: some of them were more of a niche interest in 240 00:14:37,720 --> 00:14:41,040 Speaker 1: gaming in the West, and the pandemic also saw a 241 00:14:41,080 --> 00:14:45,720 Speaker 1: big boost in people playing video games. Finally, Elon Musk 242 00:14:45,880 --> 00:14:49,040 Speaker 1: hosted Saturday Night Live over the weekend, and during that 243 00:14:49,120 --> 00:14:52,880 Speaker 1: appearance he referred to the cryptocurrency doge coin as a 244 00:14:52,960 --> 00:14:56,800 Speaker 1: quote unquote hustle, and then the value of doge coin 245 00:14:56,920 --> 00:15:01,160 Speaker 1: dropped more than thirty And this is a great time 246 00:15:01,160 --> 00:15:05,680 Speaker 1: for us to talk about how stupid this whole thing is. 247 00:15:06,200 --> 00:15:11,040 Speaker 1: Like all of it is dumb. So here goes grumpy Jonathan. 248 00:15:11,360 --> 00:15:16,960 Speaker 1: Y'all get ready. Doge Coin is a joke cryptocurrency. It 249 00:15:17,160 --> 00:15:20,360 Speaker 1: literally was started as a joke. It was created by 250 00:15:20,440 --> 00:15:23,480 Speaker 1: Jackson Palmer and Billy Marcus. And it doesn't say it's 251 00:15:23,480 --> 00:15:25,800 Speaker 1: a joke if you read the Wikipedia article, but it 252 00:15:25,880 --> 00:15:28,320 Speaker 1: was totally a joke. It started with a supply of 253 00:15:28,440 --> 00:15:32,520 Speaker 1: one hundred billion coins. It was the anti bitcoin. They 254 00:15:32,560 --> 00:15:37,200 Speaker 1: were taking a totally different approach to Bitcoin on purpose. Today, 255 00:15:37,360 --> 00:15:40,240 Speaker 1: doge coins are mined at a rate of around ten 256 00:15:40,440 --> 00:15:44,800 Speaker 1: thousand new coins every minute, which means every single day 257 00:15:45,160 --> 00:15:51,000 Speaker 1: another fourteen point for million doge coins hit circulation. That 258 00:15:51,040 --> 00:15:55,120 Speaker 1: means doge coin miners mine more than five billion coins 259 00:15:55,160 --> 00:15:59,840 Speaker 1: per year. This is fundamentally different from Bitcoin, which has 260 00:15:59,840 --> 00:16:04,240 Speaker 1: a cap of twenty one million total bitcoins. That's it, 261 00:16:04,640 --> 00:16:08,080 Speaker 1: that's all that will ever be mined. Over time, the 262 00:16:08,160 --> 00:16:12,200 Speaker 1: number of coins mind per block on the bitcoin system 263 00:16:12,400 --> 00:16:15,760 Speaker 1: goes down. So right now, if you were to successfully 264 00:16:16,000 --> 00:16:20,640 Speaker 1: mine a block of of the transactions on the bitcoin chain, 265 00:16:21,240 --> 00:16:25,560 Speaker 1: you would be rewarded with six point to five bitcoins 266 00:16:25,760 --> 00:16:29,880 Speaker 1: per block. Every so often, once a certain number of 267 00:16:29,880 --> 00:16:33,840 Speaker 1: bitcoins have been released into circulation, the system will have 268 00:16:34,600 --> 00:16:39,600 Speaker 1: how many coins get released per block mind, So after 269 00:16:39,640 --> 00:16:42,040 Speaker 1: a while it won't be six point to five, it 270 00:16:42,080 --> 00:16:47,320 Speaker 1: will be three and some odd percentage, and then after 271 00:16:47,360 --> 00:16:49,400 Speaker 1: that it will be one and a half or so. 272 00:16:50,080 --> 00:16:55,000 Speaker 1: Eventually it will actually get to all the bitcoins ever released, 273 00:16:55,000 --> 00:16:57,760 Speaker 1: although technically if you just kept having forever, you would 274 00:16:57,880 --> 00:17:00,320 Speaker 1: never you would never get through all the bitcoin, right 275 00:17:00,520 --> 00:17:03,280 Speaker 1: because you could always have it again. Um, except that 276 00:17:03,320 --> 00:17:05,600 Speaker 1: bitcoin does have a limit of how many decimal points 277 00:17:05,600 --> 00:17:07,800 Speaker 1: you can go down to. Anyway, at the rate is 278 00:17:07,840 --> 00:17:10,000 Speaker 1: going right now, we would expect to see the final 279 00:17:10,080 --> 00:17:14,879 Speaker 1: bitcoins inter circulation in twenty so that's the good ways away. However, 280 00:17:14,960 --> 00:17:17,800 Speaker 1: like I said, dogecoin is totally different. It just keeps 281 00:17:17,880 --> 00:17:21,920 Speaker 1: dumping more coins into circulation. So when Musk called it 282 00:17:21,960 --> 00:17:26,440 Speaker 1: a hustle, that's kind of true. Now speculators were driving 283 00:17:26,520 --> 00:17:29,919 Speaker 1: up the value of doge coin, but it requires getting 284 00:17:29,920 --> 00:17:33,320 Speaker 1: more people excited about a resource that is never going 285 00:17:33,359 --> 00:17:36,879 Speaker 1: to run out, it only just increases. That kind of 286 00:17:36,920 --> 00:17:40,240 Speaker 1: thing is unsustainable, Like you can drive up the value 287 00:17:40,280 --> 00:17:43,000 Speaker 1: of it by getting people excited and they're buying into it, 288 00:17:43,080 --> 00:17:45,960 Speaker 1: and that increases the perceived value, which thus increases the 289 00:17:46,000 --> 00:17:48,800 Speaker 1: actual value. And you can try and ride that train 290 00:17:48,840 --> 00:17:52,560 Speaker 1: for as long as you want, but eventually that value 291 00:17:52,640 --> 00:17:55,919 Speaker 1: was gonna take a drop because it's just not something 292 00:17:55,960 --> 00:17:58,919 Speaker 1: you can continue to sustain. And definitely you constantly we 293 00:17:59,000 --> 00:18:02,520 Speaker 1: have to bring more people in to be investing into 294 00:18:02,680 --> 00:18:06,600 Speaker 1: the resource which is constantly growing. So yeah, it was 295 00:18:06,640 --> 00:18:11,320 Speaker 1: a hustle. Also, Elon Musk is a hustler. He's someone 296 00:18:11,400 --> 00:18:14,320 Speaker 1: who has helped drive that price up. He was one 297 00:18:14,359 --> 00:18:16,960 Speaker 1: of the people investing in dogecoin and talking about it, 298 00:18:17,040 --> 00:18:18,879 Speaker 1: and that was what was making the price go up, 299 00:18:19,480 --> 00:18:22,320 Speaker 1: or helping make the price go up, because money is 300 00:18:22,359 --> 00:18:26,280 Speaker 1: like a toy to people like him. It's kind of gross. Anyway, 301 00:18:26,760 --> 00:18:29,639 Speaker 1: if you want an investment that is a sound investment, 302 00:18:29,760 --> 00:18:32,320 Speaker 1: And I am by no means an expert on this, 303 00:18:32,680 --> 00:18:36,000 Speaker 1: but I would say it's probably better to look someplace 304 00:18:36,200 --> 00:18:39,480 Speaker 1: else other than a cryptocurrency that might plunge in value 305 00:18:39,800 --> 00:18:44,480 Speaker 1: after a sketch on Saturday Night Live. Because when you 306 00:18:44,680 --> 00:18:48,040 Speaker 1: do have a resource whose value drops after an s 307 00:18:48,200 --> 00:18:51,960 Speaker 1: n L sketch of all things, that's a real clear 308 00:18:52,160 --> 00:18:56,480 Speaker 1: example of something that is not a stable resource. And yeah, 309 00:18:56,800 --> 00:19:00,359 Speaker 1: I still find cryptocurrencies to be kind of are tating 310 00:19:00,480 --> 00:19:06,119 Speaker 1: because they are totally just a digital asset that people 311 00:19:06,160 --> 00:19:09,440 Speaker 1: are investing in. No one's really using it as currency 312 00:19:09,560 --> 00:19:15,000 Speaker 1: non a regular basis, And it's just frustrating because it 313 00:19:15,520 --> 00:19:19,560 Speaker 1: requires people to buy in to agree that has value. 314 00:19:20,200 --> 00:19:24,280 Speaker 1: If they stopped doing that, it stops having value and 315 00:19:24,400 --> 00:19:26,840 Speaker 1: ultimately the whole thing just crashes in on itself. The 316 00:19:26,920 --> 00:19:29,840 Speaker 1: question is do people get out of it before it 317 00:19:29,880 --> 00:19:34,560 Speaker 1: comes crashing down or are they, you know, covered by 318 00:19:34,680 --> 00:19:39,760 Speaker 1: the collapse and themselves. I mean, it's it's mind boggling. 319 00:19:40,480 --> 00:19:43,720 Speaker 1: But that's it for the news for today, Tuesday, May 320 00:19:43,800 --> 00:19:47,919 Speaker 1: eleven one. If you have suggestions for topics I should 321 00:19:47,920 --> 00:19:50,480 Speaker 1: cover on tech Stuff, reach out to me on Twitter. 322 00:19:50,520 --> 00:19:53,960 Speaker 1: The handle is tech stuff HSW and I'll talk to 323 00:19:53,960 --> 00:20:03,000 Speaker 1: you again really soon. M. Tech Stuff is an I 324 00:20:03,119 --> 00:20:06,600 Speaker 1: Heart Radio production. For more podcasts from I Heart Radio, 325 00:20:06,960 --> 00:20:10,119 Speaker 1: visit the i Heart Radio app, Apple Podcasts, or wherever 326 00:20:10,200 --> 00:20:11,720 Speaker 1: you listen to your favorite shows.