Initial Coin Offering is one of the initial levels of start for launching a cryptocurrency. It will be launched as a token or coin initially to the market, as per the supply and demand it will become so popular and labeled as cryptocurrency. How does this Initial Coin Offering Works? The main purpose of the initial coin offering is fundraising, the user will buy the token/coin and the owner of the website will receive the fund and use it in the project as per the road map of the project. There will be a promised profit for the investor in ICO as per the pre charted road map. The core of the initial coin offering project is token. These tokens will be based on Ethereum, Waves, Bitcoin, etc. Majority Tokens will be based on Ethereum and they will be called ERC20 tokens. Smart contracts are automated address. They are auto-executing with particular instructions written on its code which get executed when specific conditions are made. When someone wants to get a particular task done in Ethereum they initiate a smart contract with one or more people. https://preview.redd.it/5pj7a582y4g51.png?width=806&format=png&auto=webp&s=987498623af1ae77221ba446aaf3d33a4fb89027 The ERC20 standard consists of 3 optional rules and 6 mandatory rules. The mandatory rules are as follows:
On the other hand, the optional rules are:
Decimal (up to 18)
The main purpose of having an ERC20 smart contract inside the ICO website is, it will make the token transfer to users automatic without delay. You can find advanced ICO script with lending and stacking stuffed from KIR HYIP.
Hello newbie! Today, I will write some introduction about HYIP, this is the first article on my blog, it’s basic knowledge, anyone has joined some HYIP or investment program online will know about HYIP, but I want to leave this article to you — Beginner. I hope this article will helpful have some basic knowledge about HYIP industry to win and get receive profit, let start and make money online with HYIP.
What is HYIP?
A high-yield investment program, also known as HYIP, which covers all programs, offline and online, that are used to invest money to receive a higher yield than you would normally get at a bank, from 5% to as much as 250% per month making it the top investment program. HYIPs accept investments that are as small as 10 USD and claims that they can provide high interest rates. To generate a high return, HYIPs often involve investors’ money put into high-risk ventures, such as day-trading stocks or bonds, or sports betting. A Bitcoin HYIP can work the same, except with Bitcoin or another crypto as the investment currency
How do HIYPs work?
Starting off with an HYIP online is simple, since all you have to do is register with them and then deposit some money into your HYIP account using the payment processor that they outline. The profits are paid out to the same processor to streamline the process. All transactions of HYIPs are done over the internet. HYIPs use E- Currency in their transactions because it offers the most convenient payment system. E- Currency suits best HYIPs because it has a feature that allows easy withdrawal of money making it a good option for completing online transactions. Moreover, E- Currency is accepted all over the globe. Another factor that addresses the need of HYIP investors.
What do HYIPs do to make a profit?
The main sources of incomes in HYIP Programs are:
Export Import Trade.
However, very few HYIP projects use Investor’s money to use real business as I listed above. Instead, they use the latter’s money to pay the previous person (Ponzi model), using funds to pay for marketing activities to expand the popularity of the project, attracting participants. If you want to grow your HYIP business online then you need the most trustworthy HYIP website first. And the best quality HYIP template can give the real taste. 'Besthyiptemplate' is the most suitable place for HYIP template design and scripts. Our template design is the most helpful and high-quality product among all templates. website : https://besthyiptemplate.com/buy-hyip-website
Uniex.biz is an HYIP project which provides long term deposit plans. It has been online since 25th Jul 2019, and admin changed website template and investment plans three days ago. So what you see now is a completely new version. When this new version was online three days ago, admin began to promote it with more money on hyip monitors and blogs. Now let's see the details of it. Started: 2019-07-25 Investment Plans You have a chance to earn 3%-7% daily for lifetime, and principal is included. The minimum amount to buy power is 300 GH/s for SHA-256 algorithm, 20 MH/s for Scrypt algorithm and 3 MH/s for Ethash algorithm. Of course, the more power you buy, the more daily profit you will receive. The minimum amount that you can transfer to your balance is set to be 0.001 BTC, 0.015 BCH, 0.03 ETH, 0.5 ETC, 0.1 LTC, 1500 Doge or 5 USD. Please keep in mind that if you send an amount that is less than the specified value, the transfer will not be credited to the balance. So be sure to reach the minimum amount. When replenish work is done, you can choose to "BUY THE POWER". Referral Commissions(7%-1%) Each mining power purchased by your direct partner (level 1 referral) will bring you 7% of its purchase amount. In addition, your tier 2 partners bring another 1% of each purchase. All rewards will be credited to the balance in the currency that was used for the purchase. If you join under my link, then welcome to submit RCB request at the top of my website, I will give 7% of your deposits back to your wallet as soon as I receive the money. Payment Options Uniex.biz accepts Bitcoin, BitcoinCash, Ethereum, Eth Classic, Litecoin, Dogecoin, PerfectMoney and Payeer. You can use all of them to replenish account balance. In order to withdraw profits in USD, Uniex.biz implemented the function of exchanging the obtained cryptocurrency for USD. Enter the "Balance" section in your personal account and select the “Exchange” tab to exchange obtained currency for USD. Please note that the amount you can exchange must be equivalent to 0.10 USD or more. Exchange commission is 8%. Withdrawal Type Uniex has set a minimum withdrawal amount to be 0.001 BTC, 0.015 BCH, 0.03 ETH, 0.5 ETC, 0.1 LTC, 2000 Doge or 2.5 USD. Each user who invested in Uniex can order a withdrawal of profits as soon as the minimum amount reaches on his balance; The time for consideration of requests is up to 48 hours. More Information Uniex.biz now supports 12 languages, so you can choose the one which is suitable for you. For more news about it, you can follow their social media at the bottom of website, including Telegram, Twitter and Youtube. Register:https://uniex.biz/?ref=YpvAG7 Read More: https://www.hyiper.net/blog/154.html
Watfordcorp.com Review: earn 6% weekly for lifetime
Watfordcorp.com is an investment project which started on 03rd Jan 2020. It is different from most HYIPs. It provides long term deposit plans. An investor bought Standard listing on my website two days ago. Now let me write something about it. Investment Plans (1) NMWEnergy：Buy 1 package, which equals to 120.37 dollars currently, earn 7.2 dollars per week, namely 5.98% weekly profit (2) GoldmineBMD：Buy 1 package, which equals to 117.91 dollars currently, earn 7.18 dollars per week, namely 6.1% weekly profit (3) EDVRecycling：Buy 1 package, which equals to 122.83 dollars currently, earn 7.5 dollars per week, namely 6.1% weekly profit (4) MarijuanaDiet：Buy 1 package, which equals to 119.05 dollars currently, earn 7.2 dollars per week, namely 6.04% weekly profit These are the four investment plans Watfordcorp.com provides for investsors. You can buy unlimited packages as you want. Your initial deposit is locked for one year, after one year, you can sell it at any time. Of course, you can also keep it for weekly profit as before. Referral Programs Watfordcorp.com provides 2 tyes of referral rewards: one-time share remuneration and weekly shareholders remuneration. ONE-TIME SHARE REMUNERATION: You can get bonus points from 10 level investors, each level is 5% of the share amounts purchased. For example, if your referrals invest $100, then you will earn 5 bonus points. You can’t withdraw bonus points because they are used to buy Premium stock packages. Once you have 2500 bonus points on your account, you can use them to buy Premium stock packages. For premium stock package, your initial deposit is only locked for 30 days, that is to say, you can withdraw initial deposits anytime after 30 days. WEEKLY SHAREHOLDERS REMUNERATION: This bonus is also for 10 levels. You can earn 8%-5%-3%-3%-3%-2%-2%-2%-1%-1% commissions from your 10 level investors. For example, if your first level investors buy $100 shares, then he/she can earn $6 according to currently profit data, so you can earn 6*8%=0.48 dollars each week from his/her profit. Withdrawal Mode Your withdrawal requests will be processed instantly into personal wallets. Minimum withdrawal amount is 1 dollar. The default fee for withdrawal is 10%, but you can lower it to be 0.5%. First step, you need verify your account with personal photo and identity document, after this step, your fee will be lowered to 1.5%; Second step, replenish 1 dollars with your payment options, for example, if you deposit with BTC, then just replenish 1 dollar through BTC, now your fee will be lowered to 0.5%. If you want to save the withdrawal fee, then you can use the internal transfer function. All you need to know is the receiver’s account number, it contains 16 numbers, like below: Payment Options: PerfectMoney, Payeer, Bitcoin, Ethereum. Other information Watfordcorp.com designs an original and professional template for its website. It also registered EVSSL certificate from Geotrust, together with a US company certificate. This is the initial stage of this project, for more upgrades in the future, I will write in this article and news page again. Welcome to register and learn. Register: https://watfordcorp.com/?ref=hOdmdOgT More: https://hyiper.net/blog/131.html
Eos continues to be a goldmine of comedy gold and madness. I found something amazing by chance. I can't believe this thing went under our radar for so long! We need more EOS deep delvers. I visited dappradar today to check the state of the dapps and obviously most of them were either games, exchanges, gambling or classified as "high-risk" (hot potato games, ponzi schemes and hyips) so only the "other" category is interesting. Eos entered an airdrop mania phase some time ago and new terrible dapp ideas rise every so often (my favorite was selling dna on the blockchain but Karma is even beter) so it's slightly more diverse than eth that consolidated around boring stuff. The innovation is happening on Eos now. Meet Karma.
KARMA is a decentralized application built on EOSIO that rewards people for doing good things in the world via an in-app token.
I couldn't pass up the opportunity to check it out. Can you imagine? A dedicated token for rewarding people for being nice. How could we live without this for sooooooooooooooo long? That's crazy! Their slogans:
Earn KARMA by doing awesome things to help out those who need the help most.
Earn KARMA as a witness validating the good deeds of others. (mother of god)
Give KARMA to friends, family or anyone you feel deserves it for doing good in the world.
Anyway, their rationale is this:
Every single day billions of humans interact with one another. Broadly speaking, the majority of these interactions are positive. Creating a reward system for these actions through tokenization will be the fuel needed for the exponential growth of human good towards one another. KARMA will create a borderless ecosystem incentivizing individuals to take daily actions towards the betterment of society.
Can you imagine? A financial incentive to be DECENT to each other ON A DAILY BASIS, this will change EVERYTHING! The world is not anymore it used to be! Mmm, mmm, no no no! Also how come we didn't monetize basic human interactions yet? So cryptolibertarians are so hellbent on tokenizing everything and micropayments for everything they decided they want to tokenize altruism, helping others and...basic human decency? On the blockchain? Looks like a joke from totallynotrobots but it's serious instead. Remember that time you helped your friend with house renovation but in turn he only picked up your children from school several times when you were busy? If there was such thing as social credit you could evaluate his contribution in quantifiable numbers of tokens and them after he returned the favor substract his contribution from his "debt" and keep the exact change for some other time. This is so fucking revolutionary how come human civilization never thought about it before? Don't be a selfless sucker, help your colleagues only if they accumulated enough karma from helping YOU.
After decades of combined experience in Marketing & Development, our team is focused on creating a world-changing DAPP that will change the way we interact with each other.
Yeah, imagine, we start quantifying every single random act of kindness without missing anything thanks to tokenized human relationship. World changing. Don't leave your home without phone, you don't wanna miss that sweet, sweet karma for helping a stranger asking for directions or something. All it takes is to convince your girlfriend, your pals, your family and friends and coworkers to complete this easy and seamless 20-step (or more, who knows, this is crypto) process of buying crypto, getting verified on exchanges, exchanging their bitcoins for eos on other exchanges, becoming accustomed with eos ecosystem, economy, limited network resources and wallets, paying for eos account, installing extensions and configuring them and finally acquiring the token in question and using it now! Also a quick rundown about private keys, blockchains, immutability and rudimentary opsec. Piece of cake. So simple a child could do it. In fact I'm gonna say it right now, if a parent won't setup a Karma account for their child in the next 5 years they'll be considered out of touch and neglectful. Do you want your kid to be that loser who doesn't accumulate favors on decentralized, transparent, public, append only ledger? Nobody will ever do anything for him/her if they won't acquire trustless proof that they did something good for society and are owed some Karma. Alternatively imagine you did something good for your friend but he died or maybe you're not on good terms anymore. In the old world you'll be shit out of luck but if enough people start using Karma you can start cashing out favors and good deeds done for him using someone else. No value is lost! Cmon, this is new paradigm of human relationships. How could we be this blind for so long? You can own of your own good deed tokens on a public blockchain and use them accordingly! Karma. Being kind, but on a blockchain.
Lost basically my entire investment last night being very stupid. Don't make my mistakes.
Please try to learn from my story. I tried to make it a video, but I am not that great on camera, so I just made a short video just introducing myself here: youtube-link
Right now I am sick to my stomach, I cannot sleep, and can barely function. After losing money left and right, I finally tipped last night and lost the last bit of a big chunk of my savings that I had ‘invested’ in Cryptos. This story is very hard for me to tell, because I am ashamed. Ashamed of how naive I have been, and how I made mistake, after mistake, after mistake. Saving the dumbest mistake for the last.
A bit about me, just so you can see this could happen to anyone. My name is Ryan and I am from Canada, so don’t get too confused if I sometimes talk in CAD and sometimes in USD. I am typically a logical person, I have a degree in Computer Science, and I was always the guy saving his money. Not to the point of being cheap, but I wouldn’t spend money on myself, I would skip going out for lunch, or walk \ take the bus somewhere to save that extra cash. And in the past, I made incredibly risk averse investments, to the point of getting beat out by inflation most of the time.
Story starts about 2 months ago when I hear that Bitcoin was at around $4400, I had heard about it many times before, but as I said, I was never the one to risk investing. Finally I took the plunge, and invested my savings, many thousands into ETH and BTC. My plan was just to buy ‘safe’ coins, and invest long term. I didn’t expect to get rich anytime soon…
Soon after I did this, the crypto markets tanked. Im sure you all remember, everything fell to around the BTC $3000 and lower, I lost a ton. Not being used to this, I started scrambling to figure out how I could make it back, no idea if BTC would rise back up. I started ‘day trading’ cryptos, but I somehow made every mistake. At first I was buying based on if I thought the coin had actual merit, and a real use case (ripple, LTC, WTC, some ICOs etc.). But I just lost money, seemed I bought everything when it was up. My ICOs (like LAT) would end up being worth ½ of what I paid for them or less. Even my ETH, something I thought for sure would hold more value than BTC, was staying below my buy in point of around $340. When BTC started going back up, most of my portfolio was in other coins! I was too slow to react. Losing more money. So then I stepped back and thought, okay if this isn’t working how are other ppl making money? Sounds logical right?
After lurking on reddit, it seemed like rumours were really running most of the markets, they didn’t always pan out, but when they did it was big. This could have just been the small sample size I was looking at, but it felt real to me. So I started looking for rumours, and of course I lost more money. At this point I am starting to get desperate to make my funds back, I had tried scraping the markets volatility a bit before. Just place a sell order a bit above the market and then a buy order a bit below. But it only kinda worked, I would win some, but in general I didn’t have the time or the money to put into it. So I figured maybe there are bots that I can get to do this. Again I wasn’t thinking of getting rich overnight, just slowly making my money back. This is how I lost another big chunk. After googling for some bots I found a site called Carismo.biz that you would just invest your funds with them and they would use bots to make you money. Makes sense, but I was still skeptical of course. I tried with a smallish investment, and it actually started working. Not super fast, but fast enough that it had me hooked. I invested more. Till one day the site just stopped working... It was gone, all gone.
After some searching I found a whole other market of what they call HYIPs, but that’s a very friendly name for them. As should have been obvious to me... they are pyramid or ponzi schemes. The site exists for just long enough to get noticed, paying ppl with funds that others invest, then it vanishes with everyone's money.
So now, I am just emotional, making choices with little or no consequence. Still following rumours cause I figure what the hell, it could work? Late last night I moved a bunch of money onto yobit.net because there was some coin that I was hearing rumours about, who even knows what coin it was now. I noticed they had a Dice Game, with no limit. Just press a button and you have a 48% chance to double your money... I didn’t lose it all at once, that would have been too easy. I knew the basic but seemly ‘foolproof’ Fibonacci or martingale strategy. Add the last 2 or more losses together, and keep betting higher and higher only when you lose sequentially. I would start at 0.0001BTC and that way my limit was high enough that I had to come out ahead… it worked for a few hours, I was up 0.2BTC or so or about $1200. Amazing! But this was no where near the amount I had lost over the last few days \ months, so I kept going. But eventually the streak hit, I bet more and more to recoup it, until I was at 0.64BTC for one roll, but enough lost bets before that to double it. I wasn’t even thinking about this being my last full BTC, and how much it was worth. I don’t know what came over me, I should have stopped long before that number, I should have never even started. It was just so easy to hit ‘Roll’. I was blind. I lost ~$8000 instantly. Might not seem like a lot of money to some of you, but I know to others it’s massive, and I am one of those.
I stayed home from work today to write this, I knew there was no way I could face anything after these mistakes. Hopefully someone else can learn from this. I am sure this story or something similar has happened to others before. But you do not hear it enough. The shame stops you from telling it.
Today my portfolio is about 0.4 of a BTC, a little ETH and a handful of ico coins, who knows what will happen with them. I am not sure what to do. If anyone has any advice or help they could give me, I will listen. Should I exit everything? Or Just step back? Uninstall Blockfolio, and hold what little I have left? Some might even say I should buy back in, borrow against my credit cards and line of credit. I know there is a voice in the back of my head still telling me to do that. What else do I have to lose?
TLDR: Despite being a smart and logical person, I fell prey to the get rich quick hype and lost roughly $18,000CAD of my initial investment by every manner available: badly timed investments, icos, HYIPs, and finally the yobit Dice Game last night. I will be online here for 4 hours or so, feel free to AMA. I have to head out now, but I will be back later to respond.
The premise of cryptocurrency is simple, a new ICO launches, claiming to offer lucrative returns for investors. Investors can’t believe their luck and clamor to buy in. The business runs for some time on the back of the invested capital, but, sooner or later, disaster strikes and the company shuts down, often with no explanation. After a while, it becomes obvious that the company is gone for good, along with the invested funds. The poisoned chalice of crypto’s decentralized nature often means that investors are left in the dark when trying to recoup or trace their pilfered funds.
How to spot an exit scam
Many exit scams have tell-tale signs that investors should look out for. The financial content site Investopedia has a handy list of key characteristics. First, exit scams often have inconsistent or misleading information about the team behind the project. When scouting potential investment opportunities, investors should scour for information on key members of any ICO. It’s important to remember that online credibility can be faked by purchasing likes, profiles and followers on social media. Celebrity endorsements with verified accounts could also ring alarm bells for investors. A fake Twitter account purporting to be Elon Musk, with a supposedly verified twitter account, raised over $155,000 as part of a 2018 Bitcoin scam. Investors should verify the credentials of backers, team leaders and promoters of cryptocurrency projects. Although individuals may seem to be legitimate at first glance, brand new social mediaprofiles and few followers or connections should raise eyebrows. The most significant characteristic unifying exit scams in cryptocurrency is the promise of a huge return on investment (ROI) — chances are that it’s probably too good to be true. Investors should always look through even the smallest details of what they are required to invest and what the company purports to be able to give back to them. ICOs usually come with a white paper, setting out the design details of the project along with a business plan and other information. Investors should pursue all available information for ICOs, as any vagueness in the white papers should signal a big red flag. When investing in an ICO, it’s vital to get an understanding of the business model. Investopdia writes that anything powered by concept alone should be a warning to anyone tempted to buy in. Although cryptocurrency projects can and do launch off the back of technological advances, investors should be wary of projects looking to gather millions of dollars before taking a sober look at the project’s ability to return the investment from the published information. Heavy promotion of an upcoming ICO can also be a sign of an exit scam. Past scams have employed bloggers to promote via numerous forums. Ads both online and in print media could also be suspicious.
$2.9 billion PlusToken scam could be largest exit scam ever
A 2019 report shared with Cointelegraph by the cryptocurrency and blockchain forensics company Ciphertrace dubbed 2019 the year of the exit scam and highlighted the billions of dollars stolen in multiple scams this year alone. The report shines a light on what, if confirmed, could be the biggest crypto scam ever, with an estimated loss of around $2.9 billion after Chinese police uncovered an alleged Ponzi schemeinvolving the South Koreanwallet provider and exchange PlusToken. Although more is being uncovered about PlusToken, mystery still surrounds the key events. Ciphertrace reports that the platform has enshrouded several Chinese nationals, the government of Vanuatu, the Chinese police and the company’s co-founders — a South Korean man operating under the alias of “Kim Jung Un” and a Russian known only as “Leo.” The alleged PlusToken scam centers around an app with which the wallet provider claimed investors could invest in PlusToken (PLUS). According to the report, the firm claimed that the token, based on the Ethereumblockchain, was developed by a major technology company. PlusToken is also said to have falsely stated that it could deliver wallet holders an ROI of between 8% and 16% per month, with a minimum deposit of $500 in crypto assets. Ciphertrace also reported that no verifiable source of revenue existed other than the proceeds from new membership. Those were onboarded per the traditional method of a Ponzi scheme, which require a constant stream of new investment in order to support its semblance of growth. Investors were incentivized to recommend new users with an invitation, which was the only way to join. Although this was enough for some members to dismiss the legitimacy of the project outright, Leo, the company’s co-founder, published a press release that claimed he had met with Prince Charles, the future head of the English royal family, providing photos as proof. Ciphertrust reported that it had contacted the Prince Charles Foundation, which confirmed that Leo had indeed attended the event, but would not provide other information about the individual due to European Union General Data Protection Regulation, or GDPR. PlusToken’s fate was seemingly sealed on June 28, after members of the Chinese police touched down in Vanuatu, detained six people involved with the project and extradited them back to mainland China. Ciphertrace reported that the so-called “PlusToken Six” were either Vanuatu citizens or applying for citizenship at the time of their arrest. Soon after, PlusToken members found that they were unable to withdraw funds from their accounts. Customers were informed that withdrawals via the app were frozen due to “technical difficulties.” By June 20, the PlusToken app had ceased operations due to purported system maintenance. For investors, there seems to be no secure lead on the final resting place of the allegedly billions of dollars of stolen funds. The Chinese government has yet to comment. A July 12 post from PlusToken stated that the six Chinese individuals were simply service users and not actually involved with the running of the company itself, stating that users should ignore the rumors and not try to log in until they receive confirmation that the servers are back online.
On April 9, 2018, two ICOs — iFan and Pincoin — operating under the umbrella of company Modern Tech based in Vietnam, went silent after reports outed them as scams that had scalped 32,000 investors out of an alleged $660 million in tokens, according to Tuoi Tre News. Victims claim that the damages amount to roughly 15 trillion Vietnamese dong ($660 million) in token sales. Angered investors held a demonstration outside Modern Tech’s Ho Chi Minh City headquarters on April 8. One of the initial characteristics that could have alarmed investors was the fact that Pincoin offered service users bonuses for successfully bringing other people on board. Pincoin did initially pay out cash until January 2018, when the company switched to iFan tokens, TechCrunch reported. The owner of Modern Tech’s office building said that the company left its offices in March and that no one knew their current whereabouts. The firm left behind only an incomplete website that is now inactive. Modern Tech initially tried to pass itself off as a mere representative of both coins in Vietnam, prior to media reports confirming that seven of its Vietnamese executives were in fact behind the projects. TechCrunch reported that the ambiguous mission statement from the then-functional site is typical of the vague and jargon-filled copy used by exit scammers:
“The PIN Project is about building an online collaborative consumption platform for global community, base on principles of Sharing Economy, Blockchain Technology, and Crypto Currency”
Financial scam directory Behindmlm released a report in February 2018 that found its buy-in method was typical of an ROI Ponzi scheme. Pincoin’s website is currently down, though iFan’s is still online.
QuadrigaCX — regulators catch on
The death of 30-year old Gerald Cotten shook the crypto world — not only because Cotten was the co-founder and CEO of Canada’s largest cryptocurrency exchange, QuadrigaCX, but also because his control of the passwords and keys to accounts rendered all the assets on the exchange forever inaccessible after his death. Cotten took over $195 million of stolen cryptocurrency with him to the grave. Related:QuadrigaCX Users Lose $190M as Speculations Over Cotten’s Death Swirl Commenting on the May 9 Ernst & Young report, Ciphertrace said Cotten had played fast and loose with customer funds for many years in order to support a lavish lifestyle for both himself and his wife. Cotten allegedly exercised complete control over the exchange and used his position to perform “unsupported deposits” — i.e., fabricated transactions not represented by either fiat or cryptocurrency. Cotten also used significant volumes of customers’ cryptocurrency via transfers from the platform into other exchanges he controlled. As per the EY report, Cotten shifted significant amounts of fiat and cryptocurrency between alias accounts, although less than 1% of these transfers was supported by documentation. Ciphertrace notes that as the admin, Cotten was in a perfect position to hide his fraudulent activities. In a pattern that may now seem familiar, Cotten used customer funds to pay for QuadrigaCX operating costs after the company suffered liquidity issues due to his reported fraudulent use of user deposits. As QuadrigaCX began to struggle to stay afloat, EY reported that Cotten gambled customer funds in off-platform margin accounts to meet margin calls. The report also states that Cotten traded unsupported deposits for legitimate funds thereby generating artificial trading markets, abused his position to override Know Your Customer requirements and hoarded all passwords:
“The Monitor understands passwords were held by a single individual, Mr. Cotten and it appears that Quadriga failed to ensure adequate safeguard procedures were in place to transfer passwords and other critical operating data to other Quadriga representatives should a critical event materialize (such as the death of key management personnel).”
As of April 12, EY estimated that Quadriga held around $20.8 million in assets and around $160 million in liabilities. The debts and assets are spread over three subsidiary companies, 0984750 B.C. LTD. (the “Quadriga Estate”), Quadriga Fintech Solutions and Whiteside Capital Corporation. On July 31, the Supreme Court of Nova Scotia approved over $1.6 million in fees for parties seeking remuneration from the exchange, according to court documents.PDF) seen by Cointelegraph.
CFTC action launched after $147 million BTC scheme
On June 18, 2019, the United States Commodity Futures Trading Commission (CFTC) initiated a civil enforcement action against now-defunct Control-Finance Limited for a scheme involving $147 million worth in Bitcoin. It is alleged that Control-Finance Ltd. defrauded over 1,000 investors by laundering around 22,858 Bitcoin. In mid-September 2017, its website was abruptly taken offline, payments to clients were suspended and advertising content from social media accounts was deleted. The firm initially said that it would reimburse customers by late 2017. However, the company allegedly began transferring laundered Bitcoin by using the crypto wallet service CoinPayments. According to Ciphertrace’s Q2 2019 Anti-Money Laundering (AML) report, the CFTC complaint charges the company and its founder Benjamin Reynolds with:
“Exploiting public enthusiasm for crypto assets by fraudulently obtaining and misappropriating at least 22,858.22 Bitcoin from more than 1,000 customers through a classic high-yield investment (HYIP) Ponzi scheme called the Control-Finance Affiliate Program.”
Per the CFTC, the company claimed that investors who buy Bitcoin through the firm would be guaranteed daily profits thanks to their team of expert cryptocurrency traders. The complaint also stated that the firm falsely claimed market volatility would ensure funds invested through Control-Finance would result in profit. The CFTC also alleged that Control-Finance misleadingly promised that it could earn customers a 1.5% ROI daily and 45% monthly. Control-Finance is also reported to have sent partial amounts of new clients’ BTC deposits to other customers, which were disguised as profit from trading, a tactic typical of Ponzi schemes. The legal action seeking civil monetary penalties and permanent trading bans continues.
Co-owner of Bitmarket found shot dead after alleged exit scam
On July 8, the Poland-based exchange Bitmarket shut down, citing liquidity issues. According to Ciphertrace’s Q2 2019 AML report, the shutdown cost users around 2,300 Bitcoin, approximately $23 million. Users attempting to log on to the site were met with the following message:
“We regret to inform you that due to the loss of liquidity, since 08/07/2019, Bitmarket.pl/net was forced to cease its operations. We will inform you about further steps.”
Ciphertrace reports that Bitmarket had a history of partners pulling out. In 2015, the firm lost payment processors CashBill and BlueMedia after the companies' banks requested they end their working relationship with Bitmarket. PKO Bank Polski, Bitmarket’s own bank, also terminated its relationship with the firm only six months after Bank BPH had done so earlier in 2015. Bitmarket’s two founders, Marcin Aszkiełowicz and Tobiasz Niemiro, have contradicting accounts about the misplaced user funds. Aszkiełowicz claimed that the exchange had been hacked for 600 BTC in 2015, an incident from which the company was unable to recover. Niemiro, however, claimed that he was not responsible for activities on the exchange. Niemiro also purported to have been told that the company was purchased with a deficit of 600 BTC, which he allegedly repaid with his own money. Niemiro said he could not confirm that his partners had indeed used the money to purchase the 600 BTC. Two weeks after the interview, Niemiro was found dead in a forest near his home with a gunshot wound to the head, which the police deemed to be self-inflicted. The District Attorney’s Office stated that it is not looking into the involvement of third parties in Niemiro’s death, but are still actively investigating the misappropriation of funds.
HYIP script is a software package to build a HYIP Site. HYIP scripts are used to handle all the information on the investment site, which deals with registration, login to your account, depositing, charging profits and bonuses, making payments, etc. They must meet certain requirements that are needed for smooth operation. Among them — the implementation of transactions with numerous payment systems, proper security against hackers and constant updates, ease of use, clear interface, the presence of multi-language versions, and so on. So, let’s look at the popular HYIP scripts.
Price: $166 Website:https://www.goldcoders.com user can buy it with PerfectMoney or Bitcoin This software helps you to create and manage your own HYIP with ease. Automatic withdrawal, instant payment and mass payment included. The combination of price, features, performance and security are the best in the current market. Goldcoders is one of the most popular scripts for HYIPs. The script has the simple interface and supports more than 20 payment systems, including Bitcoin. When you purchase the program you get Free installation, free support and 15% discount for other products. By the way, you can pay to GC admin to add new functions if you need.
Price: $149 Website:http://h-script.com/ user can buy it with PerfectMoney, Bitcoin or Yandexmoney Benefits: (1) Unlike Goldcoders, H-script is an open source. This is a big plus for developers, who can adapt the engine to their needs. (2) It is possible to download it for free and make a portable test. (3) The script supports many payment systems (more than Goldcoders) (4) The site has its forum with open threads on many issues that are of interest to both administrators and ordinary users. (5) The script is updated regularly, constantly different options and ideas appear. In general, H-script has good functionality, it is especially suitable for those who love to see into all. Drawbacks: Slow support (if the admin responds, you’re lucky! My advice — use their forum),
Price: $495 Website:https://www.shadowscripts.com/ user can buy it with SolidTrustPay Shadowscript is a competitively capable product of the two above mentioned developers. It is the professional software and support solution to manage HYIP, Private Investment, AutoSurf, Referral Program, Matrix and Re-Cycler programs. The script is quite popular among english-speaking admins. The developer also provides additional services — hosting and design for the HYIP project. Although Shadow has such serious competitors as H-Script and GC, and is perceived by many as “non-standard” script, it is still in demand. Reliability is the key feature of the script. Shadowscript projects, as a rule, run without any problems and even if they come, the technical support solves them fast. The project does not lag behind world trends — ShadowScripts HYIP Manager software are compatible with popular payment processors, including Bitcoin. Another important advantage of the script is its irregularity, that allows the developers to better monitor problems and eliminate them quickly. Read More: https://www.hyiper.net/blog/51.html
What will happen to Telegram if America does not recognize GRAM as a cryptocurrency?
States around the world are in no hurry to legislatively regulate cryptocurrency, so far its place in the legal field on a par with non-state currencies. You can pay with cryptocurrency and buy goods, but what is important, its transfer is free and unlimited. In history, there were cases of creating private currencies, but they were never recognized as legal and soon banned. "Colony" One resident of the village of Kolionovo near Moscow, Mikhail Shlyapnikov, started printing his own currency, calling it "kolion" and setting a fixed rate - 1 kolion is equal to 50 Russian rubles. At the same time, the Issuer of this "money" claimed that the colions were his personal ious. The entrepreneur came up with these banknotes when he realized that it was difficult to get a loan on favorable terms. Soon the farmer and his customers began to share with each other the colony. However, prosecutors considered a substitute for money illegal. Economists point out that in the history of humanity has repeatedly resorted to a system of credit. "The state did not help us in any way, getting a loan was a problem. Then we came up with colions-initially as a fun game, which then turned into a financial instrument that allowed us to resolve a number of issues. Thanks to these receipts, we did not have to take commercial loans. We actually created our own system of" long "loans with a negative ruble rate," Shlyapnikov said. "Free dollars" Bernard von Nothaus-the man who created the so-called "freedom Dollars", which he conceived were to replace the us dollar. Little is known about him (Bernard von NotHaus). Even in the ubiquitous Wikipedia, it is only mentioned in connection with the creation of "free dollars". According to the resource, he is also known as the founder of the Free Marijuana Church of Honolulu. In 2005, U.S. authorities began investigating von Nothaus ' financial activities. In 2006, the U.S. Mint issued a press release warning that "free dollars" are not legal currency. Bernard von Nothaus went on trial for creating the "National organization for the Repeal of the Federal Reserve and the Internal Revenue Code, NORFED". In 1998, NORFED was renamed Liberty Services. Liberty Services was engaged in the production and distribution of currency called "free dollar" (Liberty Dollar). "Free dollars" were minted in silver, gold, platinum and copper, and in design (designed again by von Nothaus) resembled official dollars. Thus, they depicted the dollar sign ( $ ), and were written the words - "dollar", the United States and the phrase Trust in God (instead Of in God We Trust).(Unfortunately we couldn't find an image of "Free dollar" on the Internet) In addition," free dollars " were issued in paper form - in the form of special certificates for gold and silver, which could be exchanged for precious metals in a special warehouse. "Free dollars" were distributed until July 2009. In July 2009, von Nothaus was arrested, and then formal charges were filed against him. And in March 2011, a North Carolina state court found von Nothaus guilty on two counts. No "exciting" trial occurred: the hearing lasted eight days, and the jury took only two hours to reach a verdict. Cryptocurrency GRAM Cryptocurrency Gram from the Creator of the social network Vkontakte and messenger Telegram was the most discussed project of 2018, not only in the digital cash market, but in the world in General. Such excitement among investors, traders, miners and just crypto enthusiasts has not been for a long time. HYIP around the new cryptocurrency Durov lasts for a year, and news about the launch of TON Telegram-a blockchain on which the new coin will work-are waiting for millions of users from all six continents. Crypt is actively discussed on forums, and the request “where to buy Gram?” is one of the most popular in search engines. Why telegram has its own cryptocurrency? In 2010, at the very beginning of the era of digital money, Durov already made an attempt to launch a cryptocurrency in the social network Vkontakte. 9 years ago, this initiative did not cause any interest or trust among users, and the launch did not take place. Since then, the attitude to cryptocurrency has changed dramatically. The news of Durov's creation of his cryptocurrency immediately caused a furore. Investors immediately began to consider Gram as a promising source for investments. The coin is launched not by someone there, but by Durov himself, whose previous projects inspire confidence in the success of the new one. There are opinions that Durov's decision to create TON is connected with the desire to monetize the messenger and gain independence from major advertisers, governments, foundations, etc. Own cryptocurrency will expand Telegram's capabilities and make it even safer. A direct competitor of Ethereum, capable of creating serious problems even for Bitcoin — Gram from the very beginning is considered as a dangerous rival for the leading representatives of the crypto community. Durov announced the monetization of Telegram, which means that users of the messenger will easily be able to use the built-in TON system and use the new currency for internal calculations and not only. The United States is afraid of cryptocurrency GRAM? Why was the US against telegram cryptocurrency and temporarily banned their sale? Us law holds that any issued token that is sold in the US automatically falls under the SEC's control. In fact, the American authorities consider the cryptocurrency, which is issued by various companies, securities. It is known that buyers during the initial coin offering paid $0.37 per token, and the second round - $1.33 per coin. At a time, investors should invest at least $10 million in the platform. At the same time, during the mass launch of the sale of Gram, the coin should have cost $3.65, but now on the black market, Gram tokens are sold from $5 per piece — the profitability for one coin compared to the first round increased 15 times. On this basis, the SEC concluded that Gram is a security, not a currency. For such activities, the company needs to disclose information about its work and investors who invest in the project. The SEC filed a lawsuit against Telegram Inc. and Ton Issuer Inc. and achieved the imposition of an injunction on the distribution of Gram tokens among investors who participated in the presale. 1.7 billion dollars were collected by the project, and the distribution of tokens was planned just now. The decision of the American authorities was extremely brutal and treacherous. Although it is explained by the " care of investors." And the distribution of Gram tokens violates American laws, because, as stated in the lawsuit, it: - Sale of tokens to us investors without prior registration of their offer, as required by US securities legislation. The court decision obliges Telegram to register its cryptocurrency as a security or return the money to American investors in case of refusal. The documents of the regulator indicate that among the $ 1.7 billion raised in 2018 for the launch of the blockchain platform, at least $425 million falls on American investors who bought at least 1 billion Gram tokens. At the same time, the number of American investors may be much higher, since many ICO participants keep in the shadows.
Hello! My name is Mihail Kudryashev, I am a frontend engineer at Platinum. We are a an international STO/IEO/ICO/POST ICO consulting, promotion and fundraising company with huge experience in STO and ICO marketing and best STO blockchain platform in the world! Learn more about it: Platinum.fund Our company gained popularity after launching the world’s number one online university with only practical knowledge on crypto economics. Now you can learn how to create and develop your own ICO and STO, how to market your campaign and make it super successful. Who are cryptocurrency investors? What drives people to invest in cryptocurrency? Read the extract of the UBAI lesson to get all the answers. Introduction to the Investors §2 In 2017, the total cryptocurrency market capitalization was approaching $850B which begs the question: Why are investors turning to cryptocurrencies? A survey by Blockchain Capital indicated that at least 30% of millennials would rather invest in bitcoin than invest in traditional stocks. Cryptocurrency investors, like traditional investors, expect a return at least proportionate to the risk they take. Due to the fundamental lack of regulation, incredible volatility and astronomical relative risk, many cryptocurrency investors expect to earn meteoric returns. Returns in the ranges of multiples from 200% to 1000%. Let us first begin by examining the kinds of people who invest in cryptocurrency, and then let’s see the reasons why each of them is investing in this relatively new market. Types of Investors The “Newbie” Cryptocurrency Investor This investor is just starting out. They probably have not had any significant experience in any form of investing before and bitcoin is their first experience. They have heard about people making incredible returns from cryptocurrency investing, or some aspect of the entire blockchain and crypto revolution attracts them, and they decide they want to invest too. Unfortunately, most of the newbie investors will end up losing their money, primarily because of one specific misconception; they think cryptocurrency investing is an easy way to make huge profits. “ “Types of Investors §2 “Gambler” or “Get Rich Quick” Investor This is the second class of cryptocurrency investor, and is actually not really an investor at all. This type of person is out to make a fortune as fast as possible. They will fall for whatever sweet-sounding scheme they hear. They love ideas that promise to double or triple their investment quickly. Like the Newbie, they do not understand how cryptocurrencies work, and they don’t care. The difference between this kind of investor and the successful individual or professional investor is that the gambler does not care about the management of risk, or about the timing of trades. They place their money on the table, and they hope it will make a good return. They are gambling rather than creating an investment thesis and executing a well-thought out strategy. They might even have an infectious positive attitude, but unfortunately it is not backed by knowledge or the due diligence required to be a successful investor. A good example of this style of thinking, outside of cryptocurrency, is high yield investment plans (HYIPs) that promise to multiply an investors capital by a certain factor. This is not to say that all HYIP programs are scams, but a good number of them are. Most importantly, the investors who flock into such plans have similar characteristics to that of the Get Rich Quick investor in that they will not take the time to learn about the field in which they are investing. They are just looking for fast money and an overnight success. “ “Types of Investors §3 Short Term Traders (Day/Swing Traders) Short term traders must, without a doubt, be the most knowledgeable investors if they are going to succeed at their chosen profession. They have, or they should have, studied the art and science of trading more thoroughly than other people. This is the kind of investor who has taken the time to learn about cryptocurrencies and the markets on which they trade. Short term traders create deliberate and timed strategies in an attempt to profit from fast market movements. Maybe many of the short term traders started off as Newbies, but these are the individuals who took the time and effort to learn about the market. They wanted to know what they were doing. These are the people who survived and thrived to grow into the type of trader that they want to be. Interestingly, the Day Trader does not attach emotion to any given coin. They do not need to believe in the sustainability/whitepapevision/road map, etc. of the project they are buying into at any particular time. They just need to be confident about the direction and timing of the potential price movement of the coin. “ “Types of Investors §4 Long Term Investors/ Hodlers A great majority of successful cryptocurrency investors can be most properly classified as Long Term Investors, or HODLers in true crypto terminology. These are investors who understand quite a bit about cryptocurrency and blockchain technology and believe in the sustainability of the coins in which they are investing. Think of the first few investors who bought bitcoin in the early days and years, when it was still deep under the radar for most people. These are the people who believed in the blockchain and cryptocurrency revolution. They didn’t sell their bitcoin for fast profit, although they had many chances to do so. They knew what they were doing, holding for the long term. These early investors and HODLers enjoyed astronomical growth all the way up to 2016 and 2017. But to be a long-term holder despite all the bad news and negative factors surrounding this brand new asset class, they must have really believed that bitcoin and the blockchain were going to change the world. This belief can only be established through study and research about the blockchain industry and the specific currencies and tokens in which you are going to invest. Follow up and learn more on www.ubai.co!” “Types of Investors §5 Sophisticated/Professional Investors These are experts in cryptocurrency investing. They most likely have a background in other forms of trading and investing, such as in stocks, bonds or options etc. They may also be earning fees by investing or managing money for other people. The Iconomi fund managers are a good example. Each Fund Manager manages an array of digital assets. Investors might choose Iconomi because it offers a platform for the investor to allocate funds to specific fund managers, with the ability to swap between managers instantly if the investor desires to do so. Each fund manager selects a number of coins in which they wish to trade or invest, with specified time horizons, short or long term. Investors can buy into the array of mutually held coins. This allows investors to utilize the knowledge and experience of professional fund managers to trade an allocated pool of capital, hopefully generating returns greater than the individual investor would be able to produce on his own. The fund managers are motivated by the fees and commissions they earn, and perhaps a performance-linked bonus. You can certainly be properly classified as a Sophisticated Investor without any need to be a fund manager for other peoples’ money. But a professional fund manager has the ability to trade with a larger pool of capital, manage complicated risk, and diversify trading strategy to generate various streams of income. “ “Between Countries A particular country’s participation in cryptocurrencies largely has to do with the legal regulations about blockchain projects and crypto currency investment in that jurisdiction. When China banned the use of cryptocurrency, most Chinese nationals had to withdraw their investments. Many other countries have also placed bans on the use or trade of cryptocurrencies. Countries like Japan that have allowed the use of cryptocurrencies have witnessed a significant rise in cryptocurrency investments as a result. Japan and South Korea are home to several high-traffic cryptocurrency exchanges, meaning that a notable proportion of their population is investing in cryptocurrencies. Another way to look at cryptocurrency investment demographics is to look at the bitcoin ATMs present in each country. The United States of America is the leading country, followed by Canada and then the United Kingdom. According to a report by Google trends, the five top countries interested in bitcoin are: South Africa, Slovenia, Nigeria, Colombia and Bolivia. Remember, cryptocurrency demographics can be a little tricky due to the anonymity involved. Many people may be afraid to participate in surveys, especially when their governments have placed legal restrictions on cryptocurrency investing. The main point the research seems to validate is that the demographics of the cryptocurrency investor base is diverse. While the average investor may be a white or Asian male between the ages of 26-30 with at least a university degree, the entire investor base is so much larger than that. Many big investors are likely to be significantly older, and have connections and businesses in the traditional economy as well. “ “Notable Investors in Cryptocurrency While many people have made fortunes from cryptocurrency investing, a handful of them stand out as being particularly remarkable. We will take a more detailed look at some of the biggest investment success stories to see how they did it and learn about their investing strategy. The Winklevoss Twins After being awarded their settlement from the lawsuit against Facebook, the Winklevoss twins decided to invest a significant portion of their money in Bitcoin. They invested $11million of the $65million they received. At that time, the price of a single bitcoin was about $120. This high-risk investment paid off handsomely and they became the first publicly known Bitcoin Billionaires, perhaps owning more than 1% of the total bitcoin in circulation. In an interview with Financial Times in 2016, the twins jointly said that they consider “Bitcoin as potentially the greatest social network because it is designed to transfer value over the internet”. They also pointed out that compared to gold, bitcoin has equal or greater foundational traits of scarcity and portability. “ “Notable Investors in Cryptocurrency §2 Michael Novogratz A self-made billionaire ex-Goldman Sachs investment banker, Novogratz has invested more than 30% of his fortune in cryptocurrency. In 2015, he announced a $500million cryptocurrency hedge fund, including $150million of his own money. Novogratz believes that “the blockchain, the computer code that underpins all cryptocurrencies, will reshape finance, just as the internet reshaped communication”. The investment thesis of Mr. Novogratz is similar to that of the Winklevoss twins. He has taken and maintains a long-term position while he trades in and out of short term moves, based on his fundamental belief in the potential and likely application of the underlying blockchain technology. By starting an investment fund in addition to his other cryptocurrency related ventures, he is demonstrating a strong fundamental grasp of the technology, including its applicability and impact across so many industries. Slide Barry Silbert In December 2014 after the US Marshal’s office seized 50,000 bitcoins from the Silk Road, Barry Silbert purchased just 2,000 of those bitcoins at $350 per coin. A few years later of course, those coins were worth millions of dollars. Barry is the founder and CEO of the Digital Currency Group (DCG) a cryptocurrency investment firm. Barry also made significant profits from Ethereum Classic, purchasing the coin in its very first days. He has invested in over 75 bitcoin related companies, including CoinDesk. As founder of the Digital Currency Group, Barry endeavors to support bitcoin and blockchain companies and accelerate the development of the global financial system. “ “Directly through Exchanges Step One: Register on a reputable cryptocurrency exchange To start investing, you first need to register on a reputable cryptocurrency exchange where you can buy bitcoin and other cryptocurrencies. Binance is a good exchange to use in this lesson. While it may or may not be the best, it is currently the largest, and they provide a very supportive layout and customer service department. You should remember, to buy most altcoins (cryptocurrencies other than bitcoin), you specifically need to use an exchange like Coinbase or Kraken that allows you to convert fiat currency into cryptocurrency. From there, if you want to trade altcoins not listed on that exchange, you will have to transfer your BTC or ETH to a larger exchange like Binance, and buy the altcoin you want, using whichever trading pair that is best suited (BTC and ETH pairs are most common). As we have already explained, if you are buying Bitcoin or any cryptocurrencies, you should invest in a wallet to safely store your coins. It is not advisable to store your BTC or other crypto on the exchanges for too long, due to hacking and other risks. “ “Directly through Exchanges Step Two: Determine your Strategy There are different ways to invest. You need to find a strategy that works for you and your specific set of skills. The value of a cryptocurrency is not defined by a formula or something out a textbook. If everyone was able to calculate the actual value of a share of stock, for example, or a bond, or other tradeable asset, then the price on an open market exchange would never move. Buyers and sellers would know exactly how much the asset is worth, so there would be no reason to sell lower or buy higher than the actual value. You need to come up with your own ideas and strategies to take advantage of market moves. Sometimes you will have a position that is contrary to the general market. Other times you might be trading in agreement with a majority of other market participants. Investors are basically separable into one of two groups of thinkers. Contrarian investors go against the crowd, swimming against the current; Momentum investors ride the wave feeling secure in the majority. Being different can be good or it can be bad. You do not always want to necessarily get caught up in the most crowded trade. “ “Things to keep in Mind Bitcoin Futures We need to mention the bitcoin futures market as another potential way to invest. Toward the close of 2017, Bitcoin started trading on two fully recognized and well-established futures markets; the Chicago Board Options Exchange (CBOE), and the Chicago Mercantile Exchange CME. The key quote from the exchanges was “because the futures can be traded on regulated markets, it will attract investors, making the market liquid, stabilizing prices and it will not suffer from low transaction speeds of Bitcoin Exchanges.” For a risk averse investor, this offers a safer entry into cryptocurrency investing. A futures contract commits its owner to buy or sell the underlying asset, BTC, at a set price, and at a set date in the future. The investor in the futures contract does not actually own the underlying asset, but rather is trading on fluctuations in the price of the asset over a certain timeframe, as specified in the futures contract. “ “Things to keep in Mind §2 Common Pitfalls We cannot conclude this lesson without one more look at the common pitfalls a new cryptocurrency investor should avoid. The problem areas are: -Falling for scams by failing to carry out due diligence. -Relying solely upon self-acclaimed crypto gurus and experts. If you want to trade, you must understand how to read news and charts for yourself. -Too much Greed. Not taking profit when you should. It is better to take a 20% gain, than wait for a 100% gain, only to lose it all in the end. -Lacking an investment strategy or exit plan. -Not sticking to your investment plan or strategy. -Allowing emotions to rule your decisions. Chasing your losses. -Investing what you cannot afford to lose. And finally, some time-tested wisdom from Wall Street: Bulls make money. Bears make money. Pigs get slaughtered every time. (Don’t be greedy!) We cannot overemphasize the risk involved in cryptocurrency investing. The potential to make huge gains over a short period of time does not come without risk. There is no doubt that significant players in the global financial markets are entering the cryptocurrency markets too. We are likely to witness more and more government authorities trying to regulate cryptocurrencies, hopefully to the overall benefit of a healthy market. It seems safe to say we will see cryptocurrencies become more mainstream due to the intense interest from the traditional financial industry and institutional investing community all over the world. What are better ways to successfully invest in cryptocurrencies? Which pitfalls should you avoid? Learn all on successful ICOs and STOs after reading the full lesson: UBAI.co How to start your STO/ICO campaign in 2019? 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Since we've all been goxxed now is the time to buy those $50-60 coins floating around and profit from everybody else's misery. Or you could wait for Gox to come back online and crash down the price even further but good luck trying to do any trading there to buy coins, the trading engine is already broken I don't expect the new one to work flawlessly due to epic 3yr history of GOXXING BTC-E.com To pay into this exchange, you need a BTC-E code, PM or Okpay. Take pics of your ID and utility bill and pay the $10 to Okpay for 'quick verification'. You can pay bitcoins directly into your Okpay account for initial funding or wait and see how long it takes for reg verification. Now either wire money, or instant money transfer (MoneyPolo, Contact-sys, Unistream) to fund your account or find an Okpay exchanger somewhere. Or Ukash/CashU. Just because contact-sys is Russian doesn't mean there aren't sending points in every country in the world. BTC-E codes you buy on #bitcoin-otc from verified gpg authenticated traders with good ratings, or on bitcointalk.org forums in the currency exchange forums. Perfect Money is a shady HYIP digital currency run by Russians much like Liberty Reserve. You sign up for free, and load your account with wires (if verified) or you use an exchanger. This is what talkgold.com is for to find legit exchangers. I use wm-center.com to wire WU/Moneygram and get PM. Click on 'Interkassa' payment method in BTC-E and select Perfect Money. Instant load. You can also obviously dump Litecoins you bought on Vircurex to fund the account, or a gagillion PPcoins Bitfloor.com Fastest way to deposit is through CapitalOne P2P or cash deposit https://bitfloor.com/docs/#funding-deposit Be aware Bitfloor is insolvent due to owing 25k bitcoins that were stolen last year but they have a repayment schedule that may or may not bankrupt them. Use at own risk but most ppl trade there everyday with no problems. Bitstamp.net Great exchange in Slovakia? I think. You have to pay with Euro SEPA wire, then for some stupid reason they convert the money to USD. You can pay in here using transferwise.com if you're from UK, or XEtrade and other Forex online money transfer companies. Google 'free money transfer fx' and review your options. Most don't charge you anything if over a certain amount of money. They take your internet billing or other local payment, convert to EUR and send SEPA for you if you request it. If they don't then check with Bitstamp what a SWIFT wire costs (probably nothing, I think they use Latvian banks that charge no receiving fees). If you want a bank account in Latvia then sign up here: http://www.rietumu.com/ if you have a local corporation or business where you live you can, maybe a personal account too. You can always incorporate a dirt cheap Delaware LLC or Oregon LLC from anywhere in the world and use it to open up worldwide bank accounts. Bitcoin-24.com Takes direct wires, all sorts of other methods: https://bitcoin-24.com/fees You can also use Liqpay if you have a USD or EUR card. Sign up to liqpay.com, then they block a small verification amount you have to sign into internet banking (for the card) to check. It's usually $1.something or less. After that you are verified to load $1-100 or so, but I'd just try $50 at first. Any more than that and Liqpay will seize the funds and ask for your bank to authorize a fax they send which no bank will do because of privacy reasons, so pointless to load anymore money. Liqpay may also call you to verify card details this is normal. Liqpay is meant for Russians and CIS countries to use like Ukraine so due to epic fraud of credit cards don't expect to load too much this way unless you find a Liqpay exchanger, but what's the point when you can just wire money to bitcoin-24 anyways. Vircurex.com Good exchange, had some problems due to DDoS but so did all exchanges. They only accept BTC, altcoins and VouchX for payment. You buy Vouchx here: https://www.aurumxchange.com/ or from somebody on Bitcointalk, or IRC (with rep). You can buy a bunch of litecoins anywhere to fund this exchange such as the bitcointalk forums or IRC. Warning: the so-called official twitter account is fake, don't use it. Cavirtex.com Can only fund if in Canada, they accept cash deposit and internet billing. Price has been steady at ~$90 all day though no panic selling. LibertyBit.com https://www.libertybit.com/funding various easy methods, new exchange in Canada that takes intl wires and shockingly Interac deposits (easily frauded). Bitcoin China https://btcchina.com/ fast growing exchange, you pay in with Alipay or Tenpay both Chinese methods that westerners can't use or figure out due to no translation. You can probably use Alipay if you find and exchanger to load it, they do exist. **Edit they now support Liberty Reserve deposit and withdrawal Check english forums to see if anybody exchanging Alipay or taking wires. CampBX.com Accepts money orders, and CapitalOne P2P payments. Also accepts Dwolla but you need to be verified. Bitcoin-central.net Just had a major outage due to instawallet hack, appears to be back online. You get your own quasi-bank account when you verify here much like how ecardone.com (liberty reserve) does banking so can transfer to other users legally with vouchers. You can buy a voucher p2p on Bitcointalk forums or IRC or send a bankwire. VirWoX.com You can pay with Paypal to get Second Life "Linden Dollars" then convert to BTC, or at least you used to be able to. I have no idea if this is still the case I've never used them. Or course there's all the fixed price exchangers https://en.bitcoin.it/wiki/Trade and https://bitcointalk.org/index.php?board=53.0 for everything from Moneypak to Skrill. You can also risk buying coins on Silk Road with moneypak ==============R U L E S ================================
Learn to use #bitcoin-otc, you'll thank me later. It has the most buying/sell options. Use localbitcoins.com too if you can to avoid bullshit exchange problems
ALWAYS USE 2-FACTOR ID ON EVERY EXCHANGE
Always use 2-factor ID on the email you used to sign up for the exchange
Don't click any links in BTC-E.com chat trollbox!!!
Don't click any links PM'd to you on BTC-E.com from other users
Enjoy buying all the way down the crash once Gox comes back online and the great sell off begins! Hold them for a year and they'll be worth 10x as much just like the 2011 crash. Bonus points if you speculate on Litecoin, rumor has it Gox will be trading them when they come back online but again, this is MtGox we are talking about so the site could implode on the zerg rush of people trying to get into their accounts or trading engine could sell all your coins for $0.0001 again like they did in 2011. Great successez!
UnxBot,which is an Usa Telegram Bot company that started its operations in 2017. We are an proficiented team of professionals that stands at the forefront of Telegram Bot. Understanding that every business has a different set of challenges and unique requirements, we deliver customer Telegram bitcoin investment bot. Bots are third-party applications that run inside Telegram. Users can interlude with bots by sending them messages, commands and inline requests. You can control your bots using HTTPS requests to our bot API. The goal of this telegram bitcoin investment bot of Unxbot is to create a Bitcoin exchange platform. It allows to send and receive Bitcoin via telegram and a Bitcoin wallet on Unxbot. Telegram bitcoin investment bot guarantees a profit on investments. Users can invest, reinvest and withdraw their Bitcoin at any time via the telegram bitcoin investment bot. Unxbot is an automated trading platform that provides users with simple investment tools through the Telegram application to multiply the user’s Bitcoin. The main activities of unxbot are Unxbot do not operate, nor do we have any association with programs that use any of the Investing Bot. We are not associated with, affiliated with or endorsed by any organization other than Investing Bot or Hyip Bot. #TelegramInvestmentBot #TelegramBitcoinInvestmentBot #TelegramBotScript #BuyTelegramGroupMembers #BuyTelegramChannelMember #BuyTelegramPostViews
Cult of Turtle - 38 lessons for safe Bitcoin trading from #bitcoin-otc IRC
#bitcoin-otc is a trading channel on the Freenode IRC server that has existed since 2011 and is still around today. It's been a well known hub among Bitcoin traders, buyers and sellers and the chatroom has helped facilitate tens of thousands of trades across its lifespan. Across its lengthy existence, many important lessons in safe trading have been learned by its members. One of its members has compiled a great deal of wealth into a document known as "Cult of Turtle", which contains 38 of the most valuable tips you could keep in mind when trading. The list has been around for years now, and has been proven time and time again to be extremely accurate. (and tounge-in-cheek partly) I've left all of the tips and original phrasing to preserve the original feeling of the guide - but for Reddit's benefit, I've highlighted the most relevant ones that are also extremely applicable when trading on Reddit or elsewhere. (and omitted several less relevant ones) Hopefully this wealth of knowledge will help improve your resiliency to scams and scammers. :)
Cult of Turtle - 38 lessons for safe Bitcoin trading from #bitcoin-otc IRC
2. Never trade with someone who doesn’t have a long and good AND RECENT trade history (check ;;gettrust, ;;events). 5. Never lend bitcoins. you will probably never see them again. As Coolio- used to say “Loans are a gift”. 8. Don’t talk about your money, worth, or wealth 9. Don’t leave large sums in shared or online wallets (or other online games or services) 11. If someone is scammer tagged, don’t give them the benefit of the doubt. it might feel weird to consider someone guilty until proven innocent, but it will save your coins. 12. High yield investment programs (HYIP) or loans are pretty much always scams. think about it. if it sounds too good to be true… 13. Never let someone control your computer (teamviewer scams). Don’t install anything suspicious on your computer (trojans, viruses). Ideally have a clean dedicated computer for your transactions. Wipe that computer regularly. 14. There are no tricks to avoid chargebacks on paypal, credit cards, moneypak, dwolla, banks, etc. some services might be harder to chargeback, but nothing is immune. 15. People with good reps can turn bad or get in a bad spot. having a good rep does not mean they will never scam. 16. Break up large transactions into smaller ones, preferably with multiple people 18. Don’t trust someone who can’t speak proper English or your language of choice. this may sound classist, but your money is on the line; trade with professionals or reputable people 22. Don’t trust fast talkers, sweet talkers, smooth talkers. don’t be swayed by emotion or inability to think. a good deal is rarely time sensitive. 23. If someone gets agitated when you ask questions, they were probably trying to scam you 25. Many people offer escrow. use it. BUT ONLY IF YOU TRUST THE PERSON OFFERING ESCROW. 27. Don’t trust gamblers, addicts, or people who are constantly broke 30. Someone buying just to build ratings is suspicious. this goes for the OTC, btcjam, or anywhere else. beware. 31. Don’t use paypal. come on. people tell you this all the time. and for a reason. it’s easy to get scammed by people using paypal. and it’s easy for paypal to freeze your assets and hold your money for 180 days. [same applies for ebay] 32. You will eventually hear someone say “come on, it’s not like I’m going to scam someone for just $___”. yes. someone would scam for that amount. don’t fall for it 34. People with non-random X ending their name are highly likely to be a scammer have you ever noticed that everyone with names ending in a random x is highly likely to be a scammer? freefox <– non-random thetruthx <— random also, framing x’s are not so random xFBASTAGEx <– not so random 35. Unsolicited messages/spam/requests to trade are almost always scams. 36. Trust your gut. if someone gives you a bad vibe, there’s probably a reason. be safe rather than sorry 38. Nobody listens to turtle You can find the full source on one of the mirrors: http://pi.littlebird-design.com/bitcoin/cult-of-turtle/ (or http://www.cultofturtle.com but seems like that ones hosting expired) Which tips from this list are your favourite, have helped you prevent scams, or are completely new to you? Comment below and share your insight with others. :) Cheers!
I have been interested in Bitcoin since mid to late 2016 when one Bitcoin was only worth $400. Sadly and very stupidly I did not buy any. I just played little games to earn some and used faucets. But after a while I had built up a good chunk of BTC (0.35). But then I fell right into the trap of those HYIPs. Not realizing what I had done. I lost all of that BTC I had spent months building up. I played my Bitcoin games very little after that and didn't really like faucets that much after words. I then dropped out at about the $800 mark came back for a quick little visit at $1,200 and then left again. (Only if we all could go back in time right). But here I am now with 0.12 BTC and a goal. A quest if you will. To get 1 whole Bitcoin. I just have this fire, this Determination to get 1 Bitcoin to fulfill me. It will be unbelievable hard I know. But I'm still going for it and while I'm at it might as well document my journey here on Reddit. Any tips or advice would be very much appreciated. This is Day 1 over and out.
Check if Bitcoin is still legal in your country. Some countries have already imposed strict regulation and even banned cryptocurrencies trading.
It's never a good idea to invest what you can't afford to lose – Never forget that Bitcoin/ICO's value is not sustained by real economy and right now the price could be overestimated.
Always keep your cryptocurrency safe
4.Never trust one source before buying Bitcoin/Altcoins. 5.Dollar Cost Averaging - Limit your risk - Never buy all at once 6.Investing in Bitcoin mining is a practice that we do not encourage 7.If you get past Bitcoins / HYIPs that will promise to double your Bitcoins in 2 weeks - RUN AS FAST AS YOU CAN 8.Trading Bitcoins/Altcoins for profit 9.Using tools such as Cryptowatch/cryptocompare/coinmarketcap to analyze charts - check price history and determine the right time to invest. 10.Create a portfolio and minimize risk (5-6 Altcoins) Maybe you can add more value and add some extra golden rules to the list.
SYN tokens —the reward for information you create unintentionally and systematically
Reviewing the last months’ ICO projects, I have already written about ICO scam and HYIP, then about the projects that seemed funny (https://www.reddit.com/CryptoCurrency/comments/7ier79/crypto_piggyback_ride/ ). Now it is the turn of projects, which are really useful not only for their developers but also for humanity (in my humble opinion). ;-) The first of them concerned one of the most vital problems for all the humanity — electricity generation (WePower). The token project under scrutiny today is Synapse AI — a kind of a global decentralized blockchain platform or a de facto — brain that anyone can help build and tap into. Everybody knows that AI stands for Artificial Intelligence. A lot of people are waiting for it to come as soon as possible and spare their lives from a lot of everyday problems. There are hundreds of aspects and areas of AI systems implementation. Synapse AI reminds us that people have given their data away to companies in exchange for centralized access to applications and services. Examples include uploading and tagging photos, tracking and sharing one’s location and access to transaction history. This information is of great value to consumer goods manufacturers as it helps them to study consumers’ behaviour and finally satisfy their demand in any area. The Synapse AI team thinks that we must create AI economies where any agent can participate in and receive some reward for doing so to provide a fair and balanced intelligence available to all equally. By opening this data and using machine learning models through decentralized marketplace formats on the blockchain, and by tokenizing contributors, Synapse AI can create syndicates that provide the greatest benefit to users everywhere. Only few people realize that, whether it is a device that connects to media, an app or a web-based service, we consistently create data. Now one can choose which data to share in Synapse decentralized data and AI marketplace, and be compensated for it. https://s19.postimg.org/x8d5kkj1v/Synapse_Mobile.png The data that is available for purchase through Synapse decentralized data and AI marketplace can be used to grow your business or organization no matter the industry you’re in, including but not limited to: Advertising/Marketing, Entertainment/Media, Education and Universities, Pharma, CPC and more... To put it in simple words: Synapse AI lets ordinary users get paid for their data. Users can earn rewards (in SYN tokens) for contributing data to the platform. Users can redeem SYN tokens for services on the Synapse network. Or, they can trade tokens on major exchanges worldwide. Anybody creating data (Synapse AI calls them Agents) which can be human or machine, contributes to data pools within the system. Data pool is a single or correlated piece of data which can be given specific labels by an agent. Data pools help to set a model, which is a characteristic or pattern of behaviour that can be picked up and understood by any agent. This in turn creates a service which is the output created through Synapse AI process which can be offered and negotiated within the marketplace. Apparently, the commercial value for data buyers will bring only the data that can somehow be described and classified by known models of consumer behaviour. That is, the data that will help brand-owners sell as much goods as possible to the same consumers of goods and services. Besides, this data can be used to train machine learning models, and these models, in turn, are used to build intelligent services and applications both internally and externally to help control all manner of resources. Synapse AI tokenizes an agent's work on the Synapse AI market using SYN utility tokens, thus facilitating an economy between participants and transferring value to those participants. Synapse AI for the masses: The sale of SYN utility token ICO features the sale of an ERC-20 Token built from an ethereum smart contract. Token distribution: 33% Token Sale 33% Developer Fund 33% Company 1% Token Sale Costs Token disbursement will happen 60 days after the public auction. Pre-sale and ICO-Tier I closed already. ICO-Tier II starts February 3, 2018 and finishes March 3, 2018. ICO-Tier III planned for Spring 2018. You can buy SYN Tokens with either of: Bitcoin, Ethereum, Lightcoin. I hope SYN tokens will really be helpful first to ordinary users of smartphones and the Internet, like you and me, to be compensated for what we now involuntarily lose. Merry Christmas and Happy Investments in 2018! Author: Dickinson-junior
VIOX token - build the smart home of your dream and control it!
The token we are going to explore today is VIOX or the token of Smart-Home-App under development by Vionex. https://s19.postimg.org/xkoxg2jfn/Vionex_by_Dickinson_junior.jpg For the readers who missed the previous three reviews I dare to remind that I have already written an article about ICO scam and HYIP, then about the projects that seemed funny. Now it is the turn of projects, which are really useful not only for their developers but also for all mankind (in my humble opinion). ;-) The first of them concerned one of the most vital problems of our time — electricity generation (WePower). The second, Synapse AI, is a kind of a global decentralized platform that lets ordinary users get paid for their data. The third is SocialX — a decentralized social media platform allowing users to distribute content seamlessly and monetize it. Decades ago many people dreamed of their own homes. Nowadays the majority of home-owners dream of smart homes. For someone it has already become a reality, for others it is still a dream. To this point, the smart home has not yet become a mass phenomenon for several reasons. Of course, the first reason is financial, and the second one is the apparent complexity of managing its systems. Nevertheless it is a fast-growing market. For examples let us refer to different countries’ statistic data: The UK Revenue in the Smart Home devices market is expected to show annual 23.6% growth rate, bringing the market volume in US$5,562 million in 2022. This year it amounts to US$1,927 million. Germany: Revenue in the Smart Home devices market is expected to show annual 24% growth rate, bringing the market volume in US$5,828 million in 2022. This year it amounts to US$1,988 million. Japan: Revenue in the Smart Home devices market is expected to show annual 28.7% growth rate, bringing the market volume in US$6,976 million in 2022. This year it amounts to US$1,980 m. One of the highest growth rates is expected in Russia — 64.7%, bringing the market volume in US$1,741 million in 2022. This year it amounts to US$144 million. Global comparison shows that most of the income generated in the United States (15,422 million U.S. dollars in 2017, bringing the market volume in US$32,806 million in 2022. Unfortunately to US citizens, Vionex officially announced that it does not sell tokens to them in connection with the well-known events. Let the investors of other countries rejoice: they will have more tokens! :-) Vionex has the team of the ten experienced professionals knowing how to make a smart home control system simple and understandable for any person — offering security, safety and comfort at the same time. Their smart app has many great features. It has access to home camera systems, automation and smoke detection systems, making it easy to shut down a smoke detector using the application. How is this related to the blockchain technology? By means of blockchain technology every order is marked and the intelligent smart home system learns to do this. This ensures maximum automation. Each process is marked and maintained in such a way that automation can only be changed by setting parameters with the Vionex-Smart-Home-App. The user has absolute control over the system and through decentralization no one can access it and change it. Besides, nobody can fake, bribe or hack the data written in the blockchain blocks. Blockchain supports smart contracts. This facilitates, verifies, enforces agreements and the execution of a contract in an automatic and transparent way. According to the team the tokenomics of the project works after ICO this way: “Firstly, the benefits of our token are that you can purchase Vionex products at a lower cost with VIOX, which we want to enable standarization in SmartHome modernization. You can also buy our products with BTC, ETH and fiat currencies, but then you pay the full price. Secondly, our customers get VIOX for promotion and loyalty. Thirdly, we also have offerings where people can get VIOX for feedback rewards. Last but not least, we always do our best to improve ourselves. There are improvements and renewals of Vionex coming. More information will follow in the near future” (https://www.vionex.io ). Details of the comig ICO: Date & time: 1st December 2017 — 28th February 2018 VIOX TOKEN is a smart-contract on the Ethereum platform (ERC20). Soft cap: 2,000,000 USD; hard cap: 10,000,000 USD. Token launch completion: Token sale would be over either when all the tokens are sold or the 90-day period is over. Accepted currencies: during the initial sale for Ether or Bitcoin. Exchange rate: 1 VIOX = 0.50 USD (fifty US cents) Tokens deployed in total: 100,000,000 VIOX The fast-growing smart homes market offers good prospects for everything related to investing in it. Sapienti sat! ;-) Merry Christmas and Happy Investments in 2018! Author: Dickinson-junior
So I wanted to use cex.io for buying bitcoins and so far I have been happy with the service. In an attempt to avoid high comission costs, I have verified my account using the necessary ID with Face and my proof of residency using my latest tax return. Before I can purchase bitcoin I have to make a deposit. Now the bank details that I have received are from some Lithuanian bank. Upon googling the address it returns some. HYIP Forex Trading Website called AlbionUnion. Apparently they are using the same bank account. Everything looks extremely sketchy and I am starting to feel like it was a mistake to have sent them these IDs and my Tax Return. Am I clear ? Is this type of verification common or should I be worried that my personal information may be abused?
Hey, I'm a 20 year old college student (Econ/Fin major) living in a dorm and going to school. I have set aside 1k towards building an income stream (1k can be increased over time Capital isn't an issue). I am debating between a couple ways and just want to get some opinions or suggestions on what a friend and I could do.
Start a website/blog teaching people about the markets (stock/economics) and how the world works. I have learned most people know nothing and I feel it is a good niche. To make money I would use ad's/affiliate links/refferal links and I might review products and services for investing from my experiences.
Build a bitcoin faucet rotator and use referral links to make money from said faucets.
HYIP referral business reviewing and providing my opinion on the safest and most efficient way to make money off of the high risk investments from my experience.
Shopify store selling a low cost high margin product like vape juice or something.
Bitcoin/micro crypto faucet website and make money from ads.
Buying a pre-existing business on Flippo (Shopify/Website/FBA Amazon)
Advice? Thanks in advance btw. I have been spending too much time trying to figure out what to do and just want to start something. I have 3 weeks to build the business before school comes back. LMK
As you may have seen in my post here https://www.reddit.com/HYIP/comments/6eltpb/my_hyip_gambling_experience/, I am trying to make some cash with those HYIP Programs. As you can see, I am not really sucessful with that. Many of the Sites and Bots I used went down, because I got in too late or just had bad luck. There are only two Bots left, that I think, that could last some more weeks so that I will get out with a little profit. That is because of their realistic properties and because of the Support-Chatgroups.
BitStarBot Telegram: DOWN It seems like, that this is the replacement for BetRobot by the providers. Same values as in the beginning (6% daily for 30 days, minimum investment 0.02BTC, withdrawal 0.02BTC), good support and contests. These are the reasons, why I think and hope, that this bot will at least stay online for 1 1/2 month. The users may trust the bot more and also reinvest for a period of time, which will keep the system alive. But my advice is, that if you want to make money with it, you have to get your bitcoins out of it as soon as possible. Plan your investment with this calculator (program values in Link included): http://www.liveefficient.com/en/hyip-investment-calculator?sv=btc;0;0;0.1;0.1;0.02;0.02;0.02;30;1;4;12
If you want to try it with BitStarBot, it is not too late if you get in soon enough. It started just a week ago and if it will continue the BetRobot "success", then it will stay online long enough. But it is of couse still very very risky, because we can't know, when it will go offline. We can just check the properties and hope that it will stay online for some time, like the BetRobot did. You need the Telegram App, before you can click the links above. Also you need to buy Bitcoin. BitPanda is a good site for that. To receive payments from these Bots, I prefer using an offline wallet. But you can also use BitPanda and change your bitcoins to amazon gift cards.
Only invest as much as you can afford to lose in these HYIP/Ponzi Programs.
*What is an ICO? Many has asked (and, quite conveniently, answered) this question in gigabytes of articles. But even those articles had passages that required articles (or asterisks) of their own. There are many people, who are interested in investing, however they are far from the budding cryptocurrency market if not conventional stock market. Many potential investors still bear scars of various Ponzi schemes: Rothstein, Payne, Pearlman — these guys had made piggy bank our go-to investment center year after year. These people (investors, not schemers, duh!) need a healthy dose of information before they feel safe to invest again. One needs to give them a bit of cryptocurrency background. I will read you a sermon on ICO ELI5.* [url=https://postimages.org/][img]https://s19.postimg.org/oz2ihtc03/ICO.svg.png[/img][/url] This article is primarily targeted at the people who have some spare money, would like to put it somewhere, but don't want to approach banks. At the same time everybody wants to be “in”, as only squares invest in stock market. The current New Frontier is cryptocurrencies (bitcoin and altcoins), ICOs and ITOs. Last two terms are really close in their meaning and are both linked to blockchain. Of course blockchain is unthinkable without Internet, but, I guess, if you are reading this article you know how to get online! Well, in the beginning there was blockchain. The significance of its invention analysts compare with the significance of the invention of Internet itself. Blockchain is literally a chain of blocks (crickey!). The chain basically worths ten times its weight in gold. If you put a pre SegWit Bitcoin on a floppy disk that is... I dunno why you would, but someone actually did it (one dude lost his HDD with bitcoins for real)! This information chain, or rather its blocks, is scattered across decentralized PCs all around the world. It handles transactions in cryptocurrency. Cryptocurrency is electronic money. “Crypto” means that they are heavily encrypted. Therefore, it is nigh impossible to forge or otherwise corrupt it for a regular user as well as a team of master hackers. Cryptocurrency is not issued by any state or private bank. Cryptocurrency’s story began in 2008 with Bitcoin. Actually first blockchain was described in the early 1990s and became the basis for Bitcoin as the first (and the most valuable) cryptocurrency. One could describe block chains as a digital ledger — kept by all parties — in the pristine condition. It cannot be edited, changed or redacted by anyone as it is constantly verified by all other parts of the network. This organization of data storage makes the system nigh impossible to crack (it does not protect the person with wallet from some bruisers taking a crack at him IRL though). Apart from Bitcoin there are more than 1,000 types of cryptocurrencies, however Bitcoin takes the lion share of market followed by smaller guys like Ethereum or Ripple. Every day the market is redistributing the market shares between well-established cryptocurrencies and the newcomers. There is a chance of some new cryptocurrencies skyrocketing to the top of the coin chain, albeit a slight one. The main advantages of cryptocurrencies: - Anonymity of the transaction’s participants is protected — only the wallet address is known, - Transaction takes seconds or minutes to transfer (depends on the miners / participants ratio or condition of the network), - Transfer fee is approximately 0.01%. - Decentralized network works without the middlemen, i.e. supported by participants themselves, - Cryptocurrencies show significant growth over fiat currencies. However some pillars of our society (the banking system, the stock market, the state itself) are rather jealous and frown on anonymity, decentralization and high investment attractiveness as it is a rather tempting piece of investment versus the ones, provided by the state. So, it is high time to get some tokens… Token meant "sign" in Old English. In the world of E-currency it serves as a proof of transaction of money to some project. That is, the process of issuing shares, entering exchanges, distribution of shares among investors and even investing the money into the project has been considerably sped up and improved by the blockchain technology. Also it has decreased or eliminated the significance of middlemen like stock exchanges and brokerage firms. Basically token is the equivalent of share, but unlike shareholders token holders do not become co-owners of the company. As the term “coin” was traditionally used in the field of cryptocurrency the launch of a new coin has been called ICO (Initial Coin Offering) — similar to IPO (Initial Public Offering). There is also a separate concept of ITO (Initial Token Offering), as the tokens can act not only as virtual money, but also have other functions like provision of access to different platforms and services. But in practice, ICO and ITO are interchangeable, and if you so desire to specify, you can use other another abbreviation — TGE (Token Generation Event) — an event for the token generation. How can you make money with ICO? The same way you would with old-fashioned stocks. During ICO tokens are sold at the starting price, which is way lower than what it would cost in case of successful implementation of the project. For that reason ICOs are sometimes called “token sale”. Companies, which issue tokens, typically redeem them up at a price significantly higher than the starting price. That is, you buy a thousand tokens for one dollar and a year after sell them for $5. You have just made 400% annually — not so bad, right? Of course it is not a fairytale... If we look back at the stock market state in its early years we will find peculiar similarities: First stock market crash happened in England in 1720 and led to passing of Bubble Act — the name speaks for itself. As you know history repeats itself, but, in my opinion, first is farce... Second is tragedy... Stock market boom that took place two hundred years later in the United States led to the collapse of the entire US economy and plunge of the country into the Great Depression.... But let's look at the brighter side — some people make billions in stocks! One of the richest people in the world — Warren Buffett — made his fortune in stocks! In the XXI century the money lie in cryptocurrencies and tokens! Let us visualize: If you had bought bitcoins in November 2016 for $740 then you would have sold them in November 2017 for $7400 (according to https://charts.bitcoin.com/chart/price) netting 900% annually!!! As for the tokens — there are those, which outdone Bitcoin growth, e.g. Stratis, whose ROI (Return on Investment — another lingo word you are likely to hear) was over twenty two thousand per cent! Apart from that Stratis tokens will yield dividends like proper stocks! Another additional successful ICO project — media blockchain GOLOS. If you still do not know what it is, you can peruse their site, which is a source of peculiar news from IT field: https://golos.blog Its ROI has been 398%. Also if potential investors feel that the project is profitable, its tokens will sell like hotbitcakes! Just imagine: an innovative browser Brave sold more than 35 million dollars in 30 seconds! Apparently the investors were hooked on the idea of receiving cryptocurrency for ad views! To me it looks like a pretty legit idea.... One would think right away: "Where can you get the latest news about ICO?" Special sites cater to those needs — they are called ICO trackers. These websites provide information about issues of new tokens, their stats and information.... Here is a list of ICO trackers: https://www.coinschedule.com https://www.coingecko.com/en https://www.numizmo.com https://icobazaar.com https://www.tokendata.io https://www.tokentops.com https://www.coin-list.com https://urbancrypto.com/ongoing-icos/ http://icochecker.com/ico-coming http://icodaily.net/ You can contact founders of projects, ask experts and gossip with other investors on a dedicated forum https://bitcointalk.org. All decent ICO projects have their YouTube channels, accounts and groups on Facebook, Twitter, Telegram and other social media... If the project is a real deal it will allocate enough resources on PR and ad campaign. You should always be able to find White Paper and Road Map, which will guide you through all stages of the project and useful information for the investors. There should be photos of the project team and links to their social network profiles. From these photos should look people with Prudence and Integrity in their eyes, otherwise you might be in trouble... Pay attention to sections, where it is described how you can reimburse your funds in case the project will turn pear-shaped; will they have unsold tokens burned — in this case tokens, remaining with investors, are going to grow in price. It also looks reassuring if the project has some material base, that is — if it is connected to real economy. For example, Global Metrology Project has a Metrology Lab that is in such high demand that it plans to develop their own network of centers around the world. In the process of choosing of a sound project for investment it is very important not to hit a snag, i.e. give money to scammers. Some ICO trackers actually warn about dishonest or straight away shady enterprises. Actually, it is a topic of a completely different article, and I might preach a sermon on it later. How can you detect a shady enterprise — you can check the project for all the things I have been talking about in the last paragraph: Have the founders got a White Book? Is it a back of the napkin? Are all the conditions of investment stated? Do the rates even look real? All they talk about is "blockchain", but they have no connection to real economy? Shady! Sometimes project with high hype turn out to be HYIP (High Yield Investment Program) — a kind of Ponzi scheme. Its organizers will promise you pie-in-the-sky dividends AND will actually pay them. At first... Then everything will follow the melody of Robbing Peter to pay Paul tune. One of the brand new Ponzi schemes of the XXI century is OneCoin — it has already gathered $250 M among the growing talks about its untrustworthiness and shadiness. Certainly there are projects, which will return investment ten- or hundredfold. They are mostly connected with blockchain technology enhancement or application: starting from crypto stock markets, crypto banks and crypto casinos and all the way to tow truck, taxies and dating agencies. So, as experts would suggest: “Thoushalt not fear to invest — Thou shalt fear shady ICOs!” Firstly, do not sell your kidney to buy some crypto money, Secondly, most experts advice to diversify: “Do not put all of your investment in one ICO.” Lastly: You have to spend time to earn money. Information equals money, so you would have to monitor zounds of sites and channels to increase your profit! Author: Dickinson-Junior
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