Today's Outcome

Wednesday, 26 February 2014

Bitcoin exchange's collapse is probed by US and Japanese regulators - Los Angeles Times

U.S. and Japanese regulators are investigating the collapse of the world's largest exchange for trading bitcoins, the virtual currency that has grown in popularity among technophiles for buying products and services online.

The separate investigations were launched Wednesday as supporters of the virtual currency insisted that the shutdown of Mt. Gox was only a temporary setback for the novel monetary system.

The failure of the Tokyo exchange, which may have included the theft of almost 750,000 bitcoins worth more than $300 million, was seen by critics as derailing prospects for the virtual currency.

But several high-profile bitcoin investors came forward in its defense Wednesday.

"Mt. Gox had to die for bitcoin to thrive. Its former role from early bitcoin days has been supplanted by better, stronger entities," said Marc Andreessen, a Web browser pioneer whose venture firm Andreessen Horowitz has invested about $50 million in bitcoin start-ups. "Every important new technology has birthing pains. PC did, Web did, bitcoin does."

Still, the shutdown of Mt. Gox came as a shock to many. According to an unverified document that purports to be from Mt. Gox, thieves have hijacked hundreds of thousands of bitcoins, about 6% of all bitcoins in circulation, which probably can't be recovered.

On Wednesday, Mt. Gox Chief Executive Mark Karpeles posted a new statement on the company's website.

"As there is a lot of speculation regarding Mt. Gox and its future, I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues," he wrote.

He did not say what those issues were.

Meanwhile, a Japanese government spokesman confirmed at a news conference that an investigation of Mt. Gox was underway.

There were also reports that the office of Preet Bharara, the U.S. attorney in Manhattan, and the FBI had launched investigations into Mt. Gox and other related bitcoin businesses. Bloomberg cited sources that said the agencies have requested documents from companies that offer bitcoin services.

Banking regulators stepped up calls for greater scrutiny of virtual currencies.

"While all the facts surrounding the situation at Mt. Gox in Japan are not yet clear, these developments underscore that smart, tailored regulation could play an important role in protecting consumers and the security of the money that they entrust to virtual currency firms," Ben Lawsky, New York state's first superintendent of financial services, said in a statement this week.

Sen. Joe Manchin III (D-W.Va.) went one step further and called for a ban. Manchin made his case in a letter to several agencies, including the Treasury Department, the Federal Reserve and the Securities and Exchange Commission.

"This virtual currency is currently unregulated and has allowed users to participate in illicit activity, while also being highly unstable and disruptive to our economy," he wrote. "I urge regulators to take appropriate action to limit the abilities of this highly unstable currency."

Bitcoin was created in 2009 by a programmer using the pseudonym Satoshi Nakamoto. Bitcoin is a set of Internet protocols that run across a wide number of servers around the world for regulating the creation and trading of bitcoins. It is not controlled by any nation, governing body or business.

Mt. Gox was, until recently, one of the first and largest bitcoin exchanges, a place where people could buy and sell bitcoins. As the company experienced glitches and legal issues over the last year, bitcoin traders began migrating to other exchanges that seemed more stable.

Despite the hit to bitcoin's credibility this week, many of its boosters are rallying to show that their support for it hasn't wavered. Indeed, many argue that the Mt. Gox collapse is a welcome development.

"There have been red flags around Mt. Gox for some time, which in part led to it losing its role as the dominant bitcoin exchange," said Jeremy Liew of Lightspeed Venture Partners. "Hopefully now there will be an opportunity for a U.S.-based regulatory compliant exchange to build meaningful liquidity."

Others argued the $300-million loss and the ensuing bad publicity would be a short-term issue. Indeed, they noted that after declining for a couple of weeks, the price of bitcoins has begun to rise again.

"Bitcoin is already very volatile, and the negative PR from the experience is definitely a setback for the ecosystem," said Adam Draper, who founded the start-up accelerator Boost. "But the community is rallying behind bitcoin very heavily in response, and I think it will have limited impact."

Fred Wilson, a partner at Union Square Ventures, which has invested in Coinbase, a digital wallet for using bitcoins, said on his blog that he went out and bought some bitcoins because he feels "good buying when there is blood in the streets in any market. It is my favorite time to buy."

chris.obrien@latimes

Twitter: @obrien

Blake Bortles girlfriend

Kings working on buyout for Jimmer Fredette - Sacramento Bee

The Kings are in talks to complete a buyout with guard Jimmer Fredette. Fredette would be waived and become a free agent after clearing waivers.

The third-year guard was a first-round draft pick in 2011, but never came close to matching the stardom he attained at Brigham Young University, where he was the consensus Player of the Year as a senior and one of the best scorers in the country.

The reasons Fredette never flourished with the Kings are numerous. Of his three head coaches, only Paul Westphal was committed to playing him a lot.

Then there was Isaiah Thomas, who outplayed Fredette almost immediately during their rookie year, eventually claiming the starting point guard job.

Concerns about Fredette’s defense, ballhandling and inability to create his own shot also kept him from playing consistent minutes and trumped his shooting ability.

Fredette’s time in Sacramento was set to end once the Kings declined to pick up the option on his contract for next season.

The Kings looked to find trade partners to move Fredette before last week’s trading deadline, but were unsuccessful. That was a disappointment to Fredette and the Kings, who like Fredette and wanted to give him a chance to play elsewhere.

The Kings had already begun planning for next season, playing rookie Ray McCallum as the backup point guard behind Isaiah Thomas and taking Fredette out of the rotation.

Fredette is averaging 5.9 points and 1.5 assists this season. He averages 7.0 points for his career.

Fredette’s release would leave four players left from last season’s roster.

Follow The Bee’s Jason Jones on Twitter @mr_jasonjones and read more about the team at www.sacbee.com/kings.

• Read more articles by Jason Jones

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Tuesday, 25 February 2014

Kid Cudi releases surprise album, 'Satellite Flight' - Los Angeles Times

Offering just a few hours' notice, Kid Cudi surprised fans by issuing a new album at midnight.

Late Monday, the alt-rapper began dropping hints via Twitter that his latest, “Satellite Flight: The Journey to Mother Moon,” would soon arrive.

Keeping with his trippy, outer-space motifs, Cudi told his followers (or “fellow galaxy travelers”) that “Tickets to Copernicus Landing will be available for purchase via iTunes in the next 2 hours.” “Copernicus Landing,” is one of the 10 tracks featured on the new album.

“Time to make the world stand still,” the rapper tweeted before issuing a one-hour warning and finally calling his travelers to “board” with a link to purchase the album on iTunes.

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Sound familiar? Cudi joins a growing list of artists tightening the gap between pre-album hype and release.

Jay Z used a commercial during the NBA finals last year to give fans a two-week notice that he was dropping “Magna Carta Holy Grail” for free via Samsung smartphones. Kanye West tweeted a cryptic date for what turned out to be “Yeezus.” The oft-polarizing rapper then drummed up a ton of pre-album hype.

And barely two weeks will pass between the time Pharrell casually announced his first record in nearly eight years and when fans will be able to purchase it.

Cudi’s move also calls to mind Beyoncé’s game-changing stunt when she stealthily unleashed a 14-track/17-video opus at the tail end of 2013.

But unlike Bey, Cudi didn’t keep fans completely in the dark about his project.

INTERACTIVE: Discover songs of L.A.

The rapper had been prepping the album since wrapping a tour in support of last year’s “Indicud.” While touring, he announced that “Satellite Flight” would be an EP prelude to the forthcoming third installment of his “Man on the Moon” series.

By late January, the EP had morphed into a full-length album, and Cudi announced it would be released in February (“thats what u get for being so patient w me. Ur gonna love it,” he tweeted last month).

“Satellite Flight: The Journey to Mother Moon” is currently available only through digital retailers and for the next week can be purchased only in its entirety.

A physical copy is expected to contain extra tracks. No release date for the physical copy has been announced, but Cudi pointed out that “Satellite Flight’s” release date was originally listed on iTunes as April 29, "but that's a glitch. Or is it," he tweeted with a wink.

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Gun Control Misfire, Sinking Ratings: Why Piers Morgan flopped - Fox News

CNN's Piers Morgan in Pasadena, Calif.AP

Also...

Baldwin vs. MSNBC

Gun Control Misfire, Sinking Ratings: Why Piers Morgan flopped

Piers Morgan believes he shot himself in the foot by crusading for gun control, with his CNN show as the final casualty.

But the self-inflicted damage was far deeper than that.

The British journalist undoubtedly alienated many in the audience (and perhaps delighted others) with his crusade against guns. But when he would bring on gun advocates and rail against them as “stupid,” well, it was hard to watch.

Morgan’s political advocacy sliced at the heart of CNN’s brand, which helps explain why the network has decided to cancel his show. That, and anemic ratings, of course. (Last Wednesday, for instance, Morgan drew 345,000 viewers, compared with 860,000 for MSNBC’s Rachel Maddow and 2.06 million for Fox’s Megyn Kelly.)

But it was his manner as much as anything else that was hard to swallow. Morgan is a talented broadcaster and has a certain rogue charm, but he also radiates smugness and condescension. I have no doubt he is sincere in his deep-seated belief in gun control, but it would have been a whole lot easier to take if he wasn’t berating the other side as a bunch of idiots. The notion of a Brit lecturing Americans about their laws, as David Carr observed in breaking the story, was a bit much.

It’s easy to forget now, but when Piers was tapped to replace Larry King in 2011, he cast himself as a celebrity interviewer who would occasionally do news. The show would drag as he held hourlong chats with the famous and not-so-famous, which seemed out of sync with CNN’s news-first approach. (King talked to plenty of celebs, but he was comfortable to watch, and he never made his show mainly about him.)

When breaking stories forced him to adapt, Morgan’s show became newsier and more relevant. But he still struggled, and while his post-Aurora advocacy raised his profile, it also turned him into a partisan. And he was often engaging in stunts, such as challenging an Australian cricket team and winding up with a broken rib as a player hurled balls at him.

The New Republic recently put it this way: “He is a mastermind at the game of cheap provocation. This is what made him a star in the tabloid world, where shock value is news value and blatancy is currency. The trouble is that he has channeled the very same sensibility into his anti-gun campaign. You might call it tabloidism as activism, sensationally and recklessly applied.”

The fact is, if you’re going to carry a prime-time show five nights a week, people have to like you. Or at least view you as their surrogate, someone who’s fighting for you.

Time’s James Poniewozik blames “simple matters of personality: his abrasive superiority had him clashing not just with gun owners but recently with a transgender interview subject. His brash, tabloid-y air of self-promotion didn’t really fit with the rest of CNN’s vibe. His preference for longform personality interviews didn’t make him the best fit for breaking-news periods or the long slogs of campaign coverage. Meanwhile, his links as a former newspaper editor to the British phone hacking investigation didn’t do him in, but they didn’t argue in favor of keeping him.”

Morgan’s own assessment, to the New York Times: “Look, I am a British guy debating American cultural issues, including guns, which has been very polarizing, and there is no doubt that there are many in the audience who are tired of me banging on about it. That’s run its course and Jeff and I have been talking for some time about different ways of using me.”

Jeff Zucker inherited Morgan when he took over CNN, and rumors swirled for months as it became obvious that the show’s ship was sinking. Now Zucker has to find a replacement at 9 p.m.

Who will it be? Ex-ABCer Bill Weir? Larry King, at 81, says he’s available for a Leno-reclaims-throne-from-Conan move. But the chances of a King return are exceedingly slim.

There’s been a bit too much gloating online about the show’s demise. But Piers himself took it in stride, tweeting: “Humbling to bring such happiness to so many people today. Coming 3rd, as I've always said, is not a trophy. #MorganOut #CNN”

Baldwin vs. MSNBC

Alec Baldwin really unloads on the network where he briefly had a weekly show. But as you read the as-told-to piece in New York magazine, it’s worth keeping in mind that the actor got fired—after an incident in which he shouted at a photographer and was said, though he denies it, to have used an anti-gay slur—so there’s a little bit of sour grapes here.

“I like Lawrence O’Donnell, but he’s too smart to be doing that show. Rachel Maddow is Rachel Maddow, the ultimate wonk/dweeb who got a show, polished it, made it her own. She’s talented. The problem with everybody on MSNBC is none of them are funny, although that doesn’t prevent them from trying to be…

“Phil Griffin is the head of MSNBC, and when I saw that Griffin didn’t have a single piece of paper on his desk, meeting after meeting after meeting, that should have been my first indication there was going to be a problem. Phil is a veteran programmer who knows well the corridors and chambers of television programming—and couldn’t give a flying [blank] about content…

“Once they fired me, a former MSNBC employee I knew emailed me. He said, ‘You watch now, Phil is going to start leaking left and right to bury you.’ When I left, ‘Page Six’ was flooded with lies about me. Another told me, regarding [an earlier] ‘toxic little queen’ comment, that Rachel Maddow was the prime mover in my firing, as she was aghast that I had been hired and viewed me as equivalent to Mel Gibson. Another source told me, ‘You know who’s going to get you fired, don’t you? Rachel. Phil will do whatever Rachel tells him to do.’ I think Rachel Maddow is quite good at what she does. I also think she’s a phony who doesn’t have the same passion for the truth off-camera that she seems to have on the air.”

Maddow has denied playing any role, and from what I know, while she’s certainly an important voice, Griffin runs the network and Rachel doesn’t meddle in management.

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Howard Kurtz is a Fox News analyst and the host of "MediaBuzz" (Sundays 11 a.m. and 5 p.m. ET). He is the author of five books and is based in Washington.

Seth Meyers' 'Late Night' debut: What's the verdict? - CNN

By Lisa Respers France, CNN

updated 10:50 AM EST, Tue February 25, 2014

STORY HIGHLIGHTS

Seth Meyers took over from Jimmy Fallon on "Late Night"
Meyers got off to a slow start
One writer says Meyers will get better

(CNN) -- Seth Meyers had big shoes to fill on Monday night.

Meyers took over the "Late Night" chair from former "Saturday Night Live" alum Jimmy Fallon, who arguably had a great run as that show's host as he crafted now-pop culture favorites like "Slow-jamming the News" and "The History of Rap."

So how did Meyers do with his debut? The reviews are in, and they range from "meh" to middling.

The Daily Beast, which thought Meyers got "off to a rocky start on 'Late Night,'" noted that the newcomer "had a few missions to accomplish when we ran into him on Monday night."

From 'Saturday Night' to 'Late Night'

"He had to prove that Fallon's reign isn't a fluke, that late night really can be a home for the affable and good-natured," the Daily Beast's Kevin Fallon wrote. "And, most importantly, he had to show that the acute and observant brand of humor he displayed for 12 and a half years on 'Saturday Night Live,' many of those years spent as head writer and host of 'Weekend Update,' translates to the late-night talk show format."

Fallon (we are assuming no relation to Jimmy) said it was "mission only sort of accomplished."

Jimmy Fallon's debut on "The Tonight Show" last week was as big as his personality. It featured a performance by the band U2 and plenty of laughs with guest Will Smith and some of Fallon's famous friends, including Stephen Colbert and Tina Fey. Meyers also got a little help from his friend Amy Poehler, who was one of his first guests along with Vice President Joe Biden. Poehler, and Meyer's former "SNL" castmate, Fred Armisen was also part of the show as the leader of "Late Night's" band.

Meyers even paid homage to Fallon in the form of a letter he wrote to his predecessor, and which he read during the opening of the show. So many nods to his "SNL" past seemed to make sense to The Los Angeles Times, which observed that Meyers' "monologue was reminiscent in style and cadence to his 'Weekend Update' segments, full of rapid-fire one-liners about the day's headlines."

"Though he lacked the giddy enthusiasm that marked Fallon's first 'Tonight' outing last week, Meyers frequently acknowledged the show as a work in progress, noting that a monologue joke about UPS had bombed with the studio audience and making fun of his low-budget graphics," the L.A. Times' Meredith Blake wrote.

Entertainment Weekly's Darren Franich gave the debut a grade of "B."

"I laughed at the premiere of 'Late Night with Seth Meyers' less than I laughed at 'The Tonight Show starring Jimmy Fallon,'" Franich wrote. "But I laughed more at Seth Meyers than I did at Jimmy Fallon."

Music critic Ken Tucker was impressed, tweeting, "Jeez, @sethmeyers @LateNightSeth makes eye contact, subtly refers to cards, responds to what guests say ... he's, like, an actual TALK show host!" Others, too, seem willing to give Meyers some time to find his footing.

Michael Starr of the New York Post wrote that Meyers "eventually found his sea legs and drove his new 12:35 p.m. show to a solid, if unspectacular, debut. ... He's charming with a certain 'aw shucks' demeanor that doesn't seem forced or contrived, and he'll have plenty of time to grow into his new role as a late-night host," Starr said.

'The Voice' Recap: Usher Pulls The Bieber Card... And It Works - MTV.com

The blind auditions were well underway on "The Voice" Tuesday night (February 25), and the talent, entertainment and humorous banter between Adam Levine, Shakira, Usher, and Blake Shelton showed no signs of slowing down any time soon.

There was surely no shortage of bribery, mockery, and downright ruthless jabs by the four coaches as they continued to vie for the contestants they want.

The 'Bieber' Card Comes Out
16-year-old Madilyn Paige's stripped-down rendition of David Guetta's "Titanium" allowed for her angelic and smooth voice to power through, and immediately got the attention of Usher and Shakira. The two coaches got into a heated battle as they tried to prove why they would be the best choice for Paige. It got so intense that Levine ran to be by Shelton's side to watch the match — all that was missing was the popcorn. In the end, it was Usher and perhaps his sly remark about working with a well-known teenager that got the young contestant's attention.

Down To The Last Second
When Massachusetts native Noah Lis, 22, stepped on stage to sing "Me and Mrs. Jones," it was clear that he would be a unique contestant. Inspired by his grandfather and Frank Sinatra, the old-soul-trapped-in-a-young-body showed off his smooth and soothing voice, but it was starting to look grim for him as his 90-second audition came to a close. As Lis hit the last note of his song, undoubtedly fearing the worst, both Levine and Shelton hit their buttons and turned their chairs. He landed himself a spot on team Blake.

True Colors Of A Young Rising Star
16-year-old Texas native Deja Hall said she was used to the odds being stacked against her, and she was ready to prove the people who underestimate her wrong. Her smooth voice got three of the four judges to turn their chairs; Shakira was so excited, in fact, she missed her button the first time. Although Shelton reminded the teen that he had previously won with a 16-year-old, Hall chose to be on Team Shakira.

Big, Red, Musical Chairs
The last contestant to hit the blind audition stage was 28-year-old country girl Cary Laine. The Alabama native crooned an energetic and passionate rendition of The Band Perry's "Better Dig Two" that resonated with all four of the coaches — and that's when the ruthlessness began. "Have a seat in my big, red, leather chair," Adam charmingly offered the hopeful as a jealous Usher looked on. As the other coaches started a Goldilocks-style chair movement with Laine, and Usher seduced her with a "Look at my lips," it seemed as though Levine's plan may have backfired. But in the end, Laine chose to take a chance with her country-at-heart style, and landed herself on Team Adam.

The end of night two saw Levine fill another two slots on his team, while the other three coaches bagged one.

'Godzilla' trailer: Bryan Cranston panics, destruction rains down - Los Angeles Times

Official trailer for the film "Godzilla."

By Oliver Gettell

February 25, 2014, 2:08 p.m.

Bryan Cranston is not a happy camper in the newly released trailer for the upcoming "Godzilla" reboot, and given the widespread destruction all around him, it's easy to see why.

As the video surveys downed planes, terrified crowds, smoldering wreckage and hovering military helicopters, a desperate Cranston, playing scientist Joe Brody, seethes. "You are not fooling anybody when you say that what happened was a natural disaster," he says. "You're lying. It was not an earthquake, it wasn't a typhoon. Because what's really happening is that you're hiding something out there — and it is going to send us back to the Stone Age!"

That something, of course, is Godzilla himself, the King of All Monsters, of whom the trailer gradually offers glimpses — first obscured by water and veiled by plumes of smoke, then seemingly too large to even fit in frame — as a scaly source of annihilation.

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The trailer, which you can watch above, also hints at how the new "Godzilla" film, directed by Gareth Edwards, will connect to the mythology of the 1954 Japanese original. The U.S. military's nuclear tests in the Pacific in the 1950s weren't actually tests, we learn.

"They were trying to kill it," says Ken Watanabe's character, who is rumored to have the same name as the protagonist of the original film, Daisuke Serizawa.

"Godzilla" also stars Elizabeth Olsen and Aaron Taylor-Johnson. The movie marks Edwards' second outing in the kaiju genre, after his 2010 independent film "Monsters," which earned praise for its deft mix of eye-catching effects and arty atmospherics.

"Godzilla" is scheduled for release May 16 from Warner Bros. and Legendary Pictures.

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