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okosh
09-15-2017, 07:59 PM
The price is falling...has the ponzi imploded or does this somehow prove that bitcoin is the real deal??...

Whip
09-15-2017, 08:20 PM
I have always thought it to be a farce myself.

Bestbud
09-15-2017, 09:52 PM
The price of Bitcoin is definitely crashing...

China's bitcoin crackdown forces exchanges to close - Sep. 15, 2017 (http://money.cnn.com/2017/09/15/technology/china-bitcoin-exchanges-prices-crash/index.html)

Jamie Dimon calls bitcoin a 'fraud' - Sep. 12, 2017 (http://money.cnn.com/2017/09/12/investing/jamie-dimon-bitcoin/?iid=EL)

littleroundman
09-15-2017, 10:55 PM
"Those who cannot learn from history are doomed to repeat it."

"History repeats itself because no one was listening the first time."

"That men do not learn very much from the lessons of history is the most important of all the lessons of history."

http://imageshack.com/a/img923/7125/7J6Pwo.png

http://imageshack.com/a/img923/4671/3rPfmV.png

http://imageshack.com/a/img924/7451/xP4aSF.png

http://imageshack.com/a/img922/7716/eROqzk.png

Joe_Shmoe
09-16-2017, 04:28 AM
Bitcoin: financial revolution or modern day tulipmania? - BBC Newsnighthttps://www.youtube.com/watch?v=hjxdOdVCDI8

littleroundman
09-16-2017, 06:55 AM
Given what we know:

* Bubbles of this size simply cannot be sustained for any length of time

* The number of supposed Bitcoin "miners" which are being used by investors.

* The number of supposed "wallets" being used to store Bitcoin

* The number of supposed "altcoins" opening almost daily

* The complete lack of oversight and regulation in, on and around the "altcoin" phenomenon

* The number of known fraudsters e.g. Lawson, Dotson / Bigg, Danny Turner / Doede Khan, Ade Hibbert etc, etc, etc pimping Bitcoin and altcoin related schemes

* The number of completely and utterly unsophisticated investor / purchasers entering the market.

* Governments of all persuasions are highly unlikely to sit back and allow "altcoins" to continue to be used to blatantly fund criminal activities

This is shaping up to be a massive crisis in the not too distant future.

Bestbud
09-16-2017, 12:29 PM
"Complicating all that is the use of cryptocurrencies in the "dark web" for a wide variety of illicit activities, from money laundering to drug dealing to prostitution, among others."

https://www.cnbc.com/2017/09/13/bitcoin-is-in-a-bubble-and-heres-how-its-going-to-crash-ron-insana.html

nuk_1
09-16-2017, 08:17 PM
Bitcoin is not a ponzi. It has a finite supply that is being way out-stripped by demand this year and about 80% of existing mining is controlled by Chinese companies(think DeBeers and diamonds), not mining machines in some dude's basement because mining Bitcoin is pointless for hobbyists due to energy costs and hardware requirements. Now day-trading Bitcoin up/down can certainly be profitable, sometimes extremely so. You can also lose your ass just like any other day trading of anything though if you're not careful. You suddenly have every wanna-be guru selling courses, plans similar to forex trading, etc. and most have no clue what they are doing with cryptocurrency except they know it has been booming this year.

There isn't a shortage of other altcoins that are indeed ponzis. Most Proof-of-Stake coins like Ripple are definitely so. The POS crypto's generally pay an annual return on the amount your staking of a few percent annually. Now, where is that return coming from if the crypto price goes down in value during the year? Hmmmm.

Yes, these are investments but some like Bitcoin are not a ponzi setup at all. It comes down to the same thing with anything else....it's value is what someone else willingly will give you for it. No different than physical gold, diamonds, fiat money, etc.

NUK

okosh
09-19-2017, 09:31 PM
"Complicating all that is the use of cryptocurrencies in the "dark web" for a wide variety of illicit activities, from money laundering to drug dealing to prostitution, among others."

https://www.cnbc.com/2017/09/13/bitcoin-is-in-a-bubble-and-heres-how-its-going-to-crash-ron-insana.html

And that's what gets them done every time....The feds didn't care about E-gold or Liberty Reserve being used for scams...Being used for the sale of kiddy porn and on carders forums etc is why they got shut down...same will happen to bitcoin IMHO....

ribshaw
09-19-2017, 09:52 PM
Being used for the sale of kiddy porn and on carders forums etc is why they got shut down...same will happen to bitcoin IMHO....

I'm at a loss as to the value of Bitcoin over say a credit card for any non illicit transaction. It's price is not very stable and virtually impossible to hedge which makes it impractical to use on any large scale.

The consumer protections with Bitcoin are non existent which benefits who? Recently I paid 3% more on a transaction where I wanted to make certain the other party delivered, easy peasy. I also had two product returns this month, no sweat but if there was a problem the credit cards make it simple enough to dispute. End of the month what the hell difference does it make if I write a check or send BC?

As a merchant the lack of chargebacks "might" be a good thing, still I'm betting most consumers would rather be protected.

Blockchain provides instant funding in contrast to the antiquated check/deposit clearing metrics employed by banks. That however has little to do with BC itself and is a technology easily poached.
Maybe BC remains a store of value like gold, but seems to have the same property in that the only value/use is what the next guy is willing to pay.

nuk_1
09-20-2017, 11:50 AM
Maybe BC remains a store of value like gold, but seems to have the same property in that the only value/use is what the next guy is willing to pay.

That's exactly what Bitcoin is worth....what someone else will give you for it. No different than physical gold, though if you tell a goldbug that they have a heart attack as they assign magical properties to gold that exist about as much as unicorns.

littleroundman
09-25-2017, 11:14 AM
YAHOO Finance (https://au.finance.yahoo.com/news/bitcoin-bubble-10-brilliant-investing-194327593.html) is reporting:

http://imageshack.com/a/img923/3333/Xsebj1.png

You can read the original article here at au.finance.yahoo.com (https://au.finance.yahoo.com/news/bitcoin-bubble-10-brilliant-investing-194327593.html)

Bestbud
09-26-2017, 03:58 PM
The SEC will need to be technically savvy if it wants to keep up with criminals....

https://finance.yahoo.com/news/sec-getting-serious-bitcoin-fraud-150100532.html

Bestbud
09-29-2017, 08:21 PM
The Security and Exchange Commission today has charged both a diamond and a real estate initial coin offering scheme with defrauding investors.

https://finance.yahoo.com/news/sec-charged-two-initial-coin-003107769.html

littleroundman
09-29-2017, 08:42 PM
http://imageshack.com/a/img922/6879/2HCSGQ.png

SEC press release (https://www.sec.gov/news/press-release/2017-185-0)

Bestbud
10-10-2017, 04:15 PM
"Russia looked poised for a crackdown on cryptocurrencies Tuesday, after Russian Prime Minister Vladimir Putin called cryptocurrencies risky and the country’s central bank said it would block websites selling bitcoin and other cryptocurrencies."

Russia says it will crack down on bitcoin | TheHill (http://thehill.com/policy/technology/354780-russia-says-it-will-crack-down-on-bitcoin)

NikSam
10-10-2017, 06:07 PM
"... Russian Prime Minister Vladimir Putin called cryptocurrencies risky and the country’s central bank said it would block websites selling bitcoin and other cryptocurrencies."

Russia says it will crack down on bitcoin | TheHill (http://thehill.com/policy/technology/354780-russia-says-it-will-crack-down-on-bitcoin)

hmm, you meant to say President :)

I know, it is confusing when he is trying to switch between prime minister and president posts every 8 years not to break the Constitution laws. :)

nuk_1
10-12-2017, 09:54 AM
Wonder how many Russian $$$ have been in the latest huge buying surge of Bitcoin since that announcement by Putin and the central bank. It is now at $5200 as I type this. Bitcoin investors say "thanks Putin!"

NUK

Bestbud
10-13-2017, 05:48 PM
“Bitcoin just shows you how much demand for money laundering there is in the world."

BlackRock CEO: Bitcoin is an index of money laundering | TheHill (http://thehill.com/policy/technology/355386-blackrock-ceo-bitcoin-is-an-index-of-money-laundering)

nuk_1
10-13-2017, 10:42 PM
“Bitcoin just shows you how much demand for money laundering there is in the world."

BlackRock CEO: Bitcoin is an index of money laundering | TheHill (http://thehill.com/policy/technology/355386-blackrock-ceo-bitcoin-is-an-index-of-money-laundering)

Seems like a rather flippant remark with nothing backing up the statement. While I'm hesitant to argue with a guy who is CEO over a company that manages about 30 trillion in assets and is the largest de facto bank in the world that is 10x bigger than the largest banks in the world, the USD and other fiat money is a helluva lot more widely used and far, far easier way to launder money. Bitcoin might be an option for laundering some small amounts and converting coin to cash through face-to-face(local bitcoin) or ATM transactions(limited to about 2K/day), but on a large-scale or big money? Need banks that are dirty and can process very big bucks.

Now-defunct Silk Road and Alphabay darknet markets both used the globally regulated existing banking system to launder hundreds of millions of Bitcoin and Monero into cash. How? All it takes a few dirty banks looking the other way. A couple even issued fake tax information for the owners to file and pay taxes on, so viola, clean money there too.

Only problem with Bitcoin right now is when to cash-out. I did about 70% of mine when it crossed 4000. Now, I'm hesitant to sell the other 30% as crazy as it's booming upward.

NUK

littleroundman
10-14-2017, 12:29 AM
Only problem with Bitcoin right now is when to cash-out.

NUK

That's no where near the "only problem" facing Bitcoin, or cryptocurrency, for that matter.

Putting aside any advantages cryptocurrency may have, Bitcoin is right in the middle of a speculative "bubble" at the minute.

Search "Tulip mania" for an example of what happens during and after a speculative bubble, whether it involves tulips, fiat, cryptocurrency or Fibrollated Sigglestats.

All it will take is one example of a terrorist organization using Bitcoin to fund or finance its' operations and government will move in, quicker than you can say "but cryptocurrency has many advantages"

There are currently over a thousand "cryptocurrencies" listed on exchanges. How many of them are legitimate enough and will last long enough that Joe and Joanne Citizen will use, and more importantly, trust cryptocurrency ???

IM(very)HO, cryptocurrency is an excellent concept.

Execution in the real world is a totally different thing, ESPECIALLY when the criminal classes recognized its' potential before the man in the street.

nuk_1
10-14-2017, 05:19 AM
That's no where near the "only problem" facing Bitcoin, or cryptocurrency, for that matter.

Maybe I should have said "my problem with Bitcoin." I could care less whether it ever becomes widely accepted and a viable alternative to fiat money.
Same with any cryptocurrency. It's like any other investment to me, not some revolution in the world of finance.


Putting aside any advantages cryptocurrency may have, Bitcoin is right in the middle of a speculative "bubble" at the minute.

All it will take is one example of a terrorist organization using Bitcoin to fund or finance its' operations and government will move in, quicker than you can say "but cryptocurrency has many advantages"
Some crypto has advantages, but 99% of them will never be adopted as anything other than on the fringe. All the gazillion ICO's right now are pure ponzi. You'll have Bitcoin, Ether,Litecoin and a few others left standing, along with Monero since it has the most anonymity of any crypto out there, maybe a handful of others like Dash and Zcash. Crypto not using the blockchain,

As far as governments sweeping-in, the decentralized nature makes it a little more difficult than stopping old fashioned money laundering with fiat currency, and why would terrorists use crypto to launder big money when it's exceedingly difficult to do and regular fiat is much easier? small-time laundering that still has an exit point right back into the banking system. The close-to-anonymity of Bitcoin is heavily out-weighed by the logistical and technical headaches of trying to convert large amounts of it into something usable. It can only be done if you have mainstream banks helping you launder. Liberty Reserve showed what happens when you try to create a financial enterprise based around money laundering, you eventually end up getting completely cut-off to the global banking system, killing the money laundering aspect, as well as busted. LR had its own ecurrency but by far the vast amounts being laundered were good 'ol mainstream fiat sources.


There are currently over a thousand "cryptocurrencies" listed on exchanges. How many of them are legitimate enough and will last long enough that Joe and Joanne Citizen will use, and more importantly, trust cryptocurrency ???

Hardly any and most will disappear.


IM(very)HO, cryptocurrency is an excellent concept.

Execution in the real world is a totally different thing, ESPECIALLY when the criminal classes recognized its' potential before the man in the street.
[/B]
Crypto has it's pro's, but the biggest of not being controlled by governments, financial juggernauts, and monetary policy or regulations is a major con for wide acceptance because those same institutions don't like competition at all. For folks wanting to buy some drugs, very useful. For those wanting to buy a house? Yeah, good luck with that.Launder a lot of dirty money without using the existing, regulated financial systems? Yeah, good luck with that too.

NUK

Bestbud
10-15-2017, 03:07 PM
"Russia will issue its own official cryptocurrency, the CryptoRuble, capping months of speculation about the country’s approach to the technology. While in a way it indicates an embrace of the likes of Bitcoin and Ethereum, the CryptoRuble is unlikely to share the truly decentralized nature of other coins."

https://techcrunch.com/2017/10/15/russia-may-soon-issue-its-own-official-blockchain-based-currency-the-cryptoruble

petergreen
10-18-2017, 09:16 AM
While in theory Bitcoin and blockchain technologies do look promising and all that, in practice there are quite a few things that may prevent wide use of Bitcoin like absence of regulation, high conversion costs, KYC https://tranio.com/world/analytics/how-the-blockchain-and-distributed-ledgers-will-transform-the-real-estate-market_5405/

Bestbud
11-07-2017, 07:34 PM
This could happen to Bitcoin wallets, too...

A crypto user deleted some code in a popular cryptocurrency wallet Parity - Business Insider (http://www.businessinsider.com/ethereum-parity-wallet-hack-freeze-missing-code-2017-11)

surfer
11-13-2017, 07:32 AM
Bitcoin is not a ponzi. It has a finite supply that is being way out-stripped by demand this year and about 80% of existing mining is controlled by Chinese companies(think DeBeers and diamonds), not mining machines in some dude's basement because mining Bitcoin is pointless for hobbyists due to energy costs and hardware requirements. Now day-trading Bitcoin up/down can certainly be profitable, sometimes extremely so. You can also lose your ass just like any other day trading of anything though if you're not careful. You suddenly have every wanna-be guru selling courses, plans similar to forex trading, etc. and most have no clue what they are doing with cryptocurrency except they know it has been booming this year.

There isn't a shortage of other altcoins that are indeed ponzis. Most Proof-of-Stake coins like Ripple are definitely so. The POS crypto's generally pay an annual return on the amount your staking of a few percent annually. Now, where is that return coming from if the crypto price goes down in value during the year? Hmmmm.

Yes, these are investments but some like Bitcoin are not a ponzi setup at all. It comes down to the same thing with anything else....it's value is what someone else willingly will give you for it. No different than physical gold, diamonds, fiat money, etc.

NUK

Based on my own very microscopic amount of knowledge and understanding about cryptocurrencies, I'd concur with NUK's post, at least up to the comments on proof-of-stake part, at which point I'm lost, lol.

I don't view bitcoin as being a ponzi. To me, it's pretty much just what the last paragraph in NUK's post said.

I've never been a big stock market guy. Your investments go up and down based on highly manipulated profit/loss statements and "consumer confidence", WTF.

Bitcoin and the legit altcoins seem to be a bit of the same thing with a new twist.

That's just this ignorant fella's take. :pou2:

surfer
11-13-2017, 07:45 AM
[/I]There are currently over a thousand "cryptocurrencies" listed on exchanges. How many of them are legitimate enough and will last long enough that Joe and Joanne Citizen will use, and more importantly, trust cryptocurrency ???

IM(very)HO, cryptocurrency is an excellent concept.

Execution in the real world is a totally different thing, ESPECIALLY when the criminal classes recognized its' potential before the man in the street.
[/B]

What LRM said.

Sincerely,

Joe Citizen



There's so much hype about these things being the currency of the future, but I don't see it being the very near future, if ever.

Again, from my extremely uneducated position, it seems more likely that somehow, someway, the current or similar monetary system will implement the technology behind these currencies.

That would leave these cryptocurrencies as something like digital beaver pelts being traded in the backwoods of the internet.

Whip
11-13-2017, 08:14 AM
digital beaver pelts

if I start a cryptocurrency, that's what I'm naming it. :RpS_laugh:

ribshaw
11-13-2017, 08:52 AM
That would leave these cryptocurrencies as something like digital beaver pelts being traded in the backwoods of the internet.

Digital Beaver Pelts, DBP. I think you need to launch an ICO you'll make a mint. Despite all the hype, I think you probably nailed it. If the price stabilizes BTC could become more of a currency, but would lose many of the speculators. Right now folks are doing what they always do, buying because it "always" goes up. Once that appreciation stops people will either leave by choice or force if they levered too heavily.

As a "currency" it doesn't make a lot of sense since its smarter to fix a transaction price in dollar terms rather than bitcoin #. As long as that's the case, why use BTC at all? If I agreed to sell a car for 1 BTC on Thursday at $7500 and at Sunday's low realized 1 BTC was now $5500 I might not want to sell my car. The reverse is true for a buyer that may no longer want to trade appreciated BTC.

The addition of futures gives BTC more of an air of credibility with the money crowd, but might push out the "cowgirls" that love the wild west keep the man out of my life aspect of BTC. The futures allow people to hedge transactions, arbitrage markets, and bet against BTC.
If nothing else futures should get us much closer to a true market value for BTC.


https://www.ft.com/content/1c9f468a-be53-11e7-9836-b25f8adaa111
CME Group Announces Launch of Bitcoin Futures (http://www.cmegroup.com/media-room/press-releases/2017/10/31/cme_group_announceslaunchofbitcoinfutures.html)

Bestbud
11-23-2017, 05:48 PM
Bitcoin has performed amazingly well, so it’s tempting to buy. Don’t bother, says Rogers. “It looks and smells like all the bubbles I have seen throughout history.” True, bubbly assets can continue to march higher than any rational person imagines possible. So there could be further gains. But messing around with bubbles is risky. Better to just stay away. “I have missed it, whatever it is,” Rogers says.

https://www.marketwatch.com/story/jim-rogers-says-bitcoin-looks-and-smells-like-all-other-investment-bubbles-2017-11-21

Bestbud
11-29-2017, 11:08 PM
Joseph Stiglitz, Nobel Laureate and Columbia University Professor, discusses Bitcoin and explains why the digital currency "ought to be outlawed."

https://www.bloomberg.com/news/videos/2017-11-29/joseph-stiglitz-bitcoin-ought-to-be-outlawed-video

Bestbud
12-06-2017, 10:23 PM
The contents of a digital wallet belonging to cryptocurrency company NiceHash, which included potentially millions of dollars worth of customers' bitcoin, was stolen in a major security breach early Wednesday.

Entire contents of NiceHash's digital wallet stolen in security breach - Business Insider (http://www.businessinsider.com/nicehash-bitcoin-wallet-hacked-contents-stolen-in-security-breach-2017-12)

Bestbud
12-07-2017, 09:22 AM
"Bitcoin is a pure gamble, and those interested in the cryptocurrency should just go to Vegas"...

https://www.cnbc.com/2017/12/06/cramer-bitcoin-like-monopoly-money-better-off-gambling-in-vegas.html

Bestbud
12-07-2017, 10:30 AM
Given its rapidly growing climate footprint, bitcoin is a malignant development, and it's getting worse. A bitcoin transaction requires the same amount of electricty that it takes to power 9 homes in the United States for 24 hours.

Bitcoin is ruining the planet - Business Insider (http://www.businessinsider.com/bitcoin-is-ruining-the-planet-2017-12)

nuk_1
12-07-2017, 11:26 AM
"Bitcoin is a pure gamble, and those interested in the cryptocurrency should just go to Vegas"...

https://www.cnbc.com/2017/12/06/cramer-bitcoin-like-monopoly-money-better-off-gambling-in-vegas.html

No matter whether it is sportsbetting or table games, the house in Vegas always has an advantage. In other words, for most gamblers, it's a losing proposition, especially in the short term. Bitcoin is a gamble for sure, but one that is winning tremendously in comparison to other gambling activities all year and, oh yeah, just crossed 16K up another 25% or so in 24hrs as I was typing this. Get that kind of return at Vegas. Cramer's idea that Vegas is "fabulous" must make up for the reality of not being the best gamble around.

Wait until the futures market starts cranking up next week and people wanting to short the hell out of Bitcoin. That will be interesting.

Bestbud
12-08-2017, 12:28 PM
Bitcoin has given investors whiplash yet again...

Bitcoin plunges more than $3,000 after hitting new record - Dec. 8, 2017 (http://money.cnn.com/2017/12/08/investing/bitcoin-latest-price/index.html)

cloudchecker
12-09-2017, 07:35 PM
Hi guys I have been in the crypto world since 2012 so I am well versed in the topic.
So, is Bitcoin a Ponzi?
Nope. It is decentralized meaning it has no sole owner or man behind the curtain. It is an infrastructure that meant to cut out the middle man a.k.a. The Bankers (They're wankers!). It is essentially a massive bot if you will, that can replace the friendly bank teller and the whole brick and mortar aspect of banking with just one piece of software. It is a deflationary currency which is the opposite of the USD or any other fiat. With a hard cap of 21M BTC, the buying power of one has to rise over time. But fret not, because it is divisible pretty much ad infinitum so every person can own some BTC if they choose to.
The bad press is there to manipulate people and scare them away from this world but NOT with your safety in mind. Articles about BTC being dead are everyday things that technically literate people read to have a good laugh :)
The old school economists can't wrap their heads around it because they are indoctrinated with the "inflation is good" nonsense. Yeah I love making essentially less money than I made with the same work last year and provide the elite even bigger tax cuts by paying their share into the system...Who does not like inflation?

Fact is, if you're simple dude in a basement Bitcoin and crypto in general is your best bet to make money online. I started mining with a used Radeon 5870 in 2012 that burned out but I did ROI on that beast of a card!
Also the PTC world is much more generous if they use BTC.
BUT, since the transactions are irreversible in nature the scammers love it. So, if someone is promising 1% daily gains in BTC they are more bogus than those who promise 1% daily in fiat.

There is so much more to write here so I will address other questions later.

littleroundman
12-09-2017, 08:42 PM
Hiya, cloudchecker and welcome to REALSCAM.com (www.realscam.com)

IM(very)HO, more relevant questions to ask would be:

* Is the current Bitcoin bubble sustainable ??

* Are governments going to continue to allow Bitcoin to be used as the preferred currency of fraudsters, criminals, terrorists, tax avoiders and the dark web ???

ribshaw
12-09-2017, 10:33 PM
It is an infrastructure that meant to cut out the middle man a.k.a. The Bankers (They're wankers!).

Ridiculous, I set up a Bitpay wallet and wanted to purchase some BTC. The two options I was given to make a purchase indicated the transactions would take days to complete. BTC is terribly inefficient and expensive, you are living in fantasy land to claim otherwise.

Better off letting the merchant pay the middleman.




It is a deflationary currency which is the opposite of the USD or any other fiat.

BTC is the very definition of FIAT, more so than things like the USD since the government has the ability to tax and owns assets. The gold coin hucksters love to toss around "fiat" as well, such an ominous sounding word.

https://www.investopedia.com/terms/f/fiatmoney.asp





Fact is, if you're simple dude in a basement Bitcoin and crypto in general is your best bet to make money online.

Yeah, just like dot.com stocks, statements like this are a sure sign of a bubble.





BUT, since the transactions are irreversible in nature the scammers love it. So, if someone is promising 1% daily gains in BTC they are more bogus than those who promise 1% daily in fiat.


Nope, they're both bogus just one is playing off the hysteria which is what any self respecting scammer should do.

surfer
12-09-2017, 10:56 PM
It is decentralized meaning it has no sole owner or man behind the curtain. It is an infrastructure that meant to cut out the middle man a.k.a. The Bankers (They're wankers!). It is essentially a massive bot if you will, that can replace the friendly bank teller and the whole brick and mortar aspect of banking with just one piece of software.

Fees are charged by cryptocurrency wallets and exchanges. It's just a virtual middleman instead of a physical one.


It is a deflationary currency which is the opposite of the USD or any other fiat. With a hard cap of 21M BTC, the buying power of one has to rise over time. But fret not, because it is divisible pretty much ad infinitum so every person can own some BTC if they choose to.

This is one thing that has stumped me. With the divisibility and/or the potential for a hard fork increasing the supply, it really doesn't seem like much of a "hard cap".


The bad press is there to manipulate people and scare them away from this world but NOT with your safety in mind. Articles about BTC being dead are everyday things that technically literate people read to have a good laugh :)

Manipulation runs both ways. Or do you think that everyone singing bitcoin's praises is altruistic?


The old school economists can't wrap their heads around it because they are indoctrinated with the "inflation is good" nonsense. Yeah I love making essentially less money than I made with the same work last year and provide the elite even bigger tax cuts by paying their share into the system...Who does not like inflation?

From what I've seen, some can and some can't. Some warnings seem to be from those stuck in the past with a closed mind and some seem to be showing concerns that make sense.

As I mentioned earlier, it seems a bit too volatile at this point to be taken seriously as a currency.

And since any scammer on the planet can launch their own, do you think that regulators won't eventually clamp down in some way?

Bestbud
12-09-2017, 11:17 PM
“Bitcoin is volatile enough as a stand-alone investment. I don’t think the retail investor needs to be adding to leverage through a futures contract on top of bitcoin,” Osborne said. “So buyer be very much beware when it comes to retail investors and futures contracts.”

https://www.marketwatch.com/story/bitcoin-futures-heres-what-you-need-to-know-2017-12-09


Wall Street banks are warning about the dangers of bitcoin futures.

Bitcoin: Big banks say futures could be dangerous - Dec. 7, 2017 (http://money.cnn.com/2017/12/07/investing/banks-bitcoin-futures-trading-cftc/index.html)

Bestbud
12-23-2017, 10:20 AM
"Bitcoin plunged by 30 percent to below $12,000 on Friday as investors dumped the cryptocurrency after its sharp rise to a peak close to $20,000 prompted warnings by experts of a bubble."

https://www.reuters.com/article/uk-global-bitcoin/bitcoin-plunges-below-13000-heads-for-worst-week-since-2013-idUSKBN1EG0A8

ribshaw
12-23-2017, 11:17 AM
“Bitcoin is volatile enough as a stand-alone investment. I don’t think the retail investor needs to be adding to leverage through a futures contract on top of bitcoin,” Osborne said. “So buyer be very much beware when it comes to retail investors and futures contracts.”

https://www.marketwatch.com/story/bitcoin-futures-heres-what-you-need-to-know-2017-12-09





When BTC and the other cryptos blow up and/or enter a significant bear market over-leveraged investors will get carried out as always. While I don't have any hard data my spidey senses tell me too many folks have geared up using credit cards and similar to invest.


If I was going to buy BTC I would use the futures contracts as opposed to the currency. The contracts settle in cash and there is zero counterparty risk so the money will be there. Also no concern of having a wallet or exchange (allegedly) hacked and having your futures contract ending up at a bazaar in Russia. With that said, I would only buy the contracts outright employing no margin. I think exchange requirements are around 40-50% so a $15K contract could be purchased for $7.5K, recipe for disaster IMHO.

On the sell side, the futures contracts allow someone to bet on the price of BTC falling. Since theoretically there is no limit to how high BTC price could go, this gambit could easily wipe out an undercapitalized investor.

Bestbud
12-23-2017, 11:22 AM
"Buys and sells on Coinbase, the largest cryptocurrency exchange in the US, were disabled for a little over two hours Friday amid a massive cryptocurrency sell-off."

Coinbase halts buying and selling as crypto market plunges - Business Insider (http://www.businessinsider.com/coinbase-halts-buying-and-selling-as-crypto-market-plunges-2017-12)

surfer
12-23-2017, 12:05 PM
"Buys and sells on Coinbase, the largest cryptocurrency exchange in the US, were disabled for a little over two hours Friday amid a massive cryptocurrency sell-off."

Coinbase halts buying and selling as crypto market plunges - Business Insider (http://www.businessinsider.com/coinbase-halts-buying-and-selling-as-crypto-market-plunges-2017-12)

Maybe it's the time of year, but I can't help but think about the bank run scene from "It's a Wonderful Life".

Bestbud
12-26-2017, 08:22 PM
The real value of Bitcoin might be ... $0

Morgan Stanley on bitcoin: 'the value would be 0' - Business Insider (http://www.businessinsider.com/morgan-stanley-on-bitcoin-value-2017-12)

nuk_1
12-27-2017, 06:11 PM
When BTC and the other cryptos blow up and/or enter a significant bear market over-leveraged investors will get carried out as always. While I don't have any hard data my spidey senses tell me too many folks have geared up using credit cards and similar to invest.

Some fools are even making Bitcoin part of their IRA's and telling others what a grand idea it is.


If I was going to buy BTC I would use the futures contracts as opposed to the currency. The contracts settle in cash and there is zero counterparty risk so the money will be there. Also no concern of having a wallet or exchange (allegedly) hacked and having your futures contract ending up at a bazaar in Russia. With that said, I would only buy the contracts outright employing no margin. I think exchange requirements are around 40-50% so a $15K contract could be purchased for $7.5K, recipe for disaster IMHO.

YES!


On the sell side, the futures contracts allow someone to bet on the price of BTC falling. Since theoretically there is no limit to how high BTC price could go, this gambit could easily wipe out an undercapitalized investor.
YES x1000.

NUK

nuk_1
12-27-2017, 06:17 PM
The real value of Bitcoin might be ... $0

Morgan Stanley on bitcoin: 'the value would be 0' - Business Insider (http://www.businessinsider.com/morgan-stanley-on-bitcoin-value-2017-12)

The analyst from Morgan Stanley also should have mentioned that as a private investor who majorly screws-up by ignoring basic facts and even minimal common sense, you won't have available to you 100bil+ from the US Fed Reserve to keep you afloat. Nope, no bailout for your blunders and you're just broke instead because you're not too big to fail.

NUK

Bestbud
12-28-2017, 11:06 AM
Bitcoin Tumbles Over Exchange-Closure Fears...

https://www.bloomberg.com/news/articles/2017-12-28/bitcoin-drops-as-south-korea-says-exchange-closures-are-possible

cloudchecker
01-13-2019, 01:53 PM
There are a lot more options than two to buy bitcoins. Here are the exchanges where you can buy, some allow instant credit/debit card payments too.

https://coinmarketcap.com/currencies/bitcoin/#markets

You can buy from people too. On the street, with just scanning a QR code on the phone.

Fiat is debt based currency. That's why inflation -and hyperinflation- exists because the printed money is borrowed from the issuing bank at interest, using the existing money supply as collateral.
Bitcoin is just software and it has a hard cap on the supply. Also the dot com is still making money to those who were in early and for those who host websites with dot com domains.
The fees are there for the miners - the owners of the rigs that secure the blockchain. They verify the transactions that go to the network and put them in blocks.
Actually banks are starting their own blockchains while advising everyone else to avoid them.
About the volatility: it is decreasing as adoption rises. Right now you can find students in pretty much every classroom who own crypto.
With the rise of ETH the market has been given a new tool to secure and verify contracts. Smart contracts only execute transactions when all conditions are met. Bitcoin can also be used for this purpose with the use of colored coins.
About the taxability: the wallets themselves can only be accessed by their owners but since the blockchain is a public ledger everyone can see what's in it. The tax man can come after you so it's not really good for tax evasion. The difference is the issuer: Only the US is authorised to print or issue new US Dollars but since bitcoin is a global network anyone can participate in generating bitcoins if they have enough computing power.

As you can see it's a lot more than just money, it creates new technologies and removes politics from transactions. If I was in North Korea (which I don't intend to visit, EVER) and I somehow had access to the internet I could still transact to anyone in Venezuela. Highly unlikely but doable.

I actually mined bitcoins back in 2012 and I still have some. This is cloud computing which is essentially what my nick refers to.

To end my entry here's a reputable math geek's explanation on how it works

https://www.youtube.com/watch?v=bBC-nXj3Ng4

cloudchecker
01-13-2019, 03:36 PM
Here are some resources with no referrals that I regularly use

Charts and other technical info
https://coinmarketcap.com

News
https://bitcoinist.com
https://www.ccn.com

Forum
https://bitcointalk.org

To check something if seems dodgy
https://badbitcoin.org

Mining profitability and such
https://www.coinwarz.com/cryptocurrency

If you guys decide to trade well I trade too with more or less success. Don't use leverage and try not to lose everything. Find info about exchanges on the forum, don't hold all eggs in one basket and learn to use and move every currency.
I use exchanges like kucoin, bittrex, cryptopia and yobit, however my holdings on yobit are very tiny. I obviously don't hold everyhing in exchange wallets. Only what I use to trade.

ribshaw
01-13-2019, 09:16 PM
Fiat is debt based currency. That's why inflation -and hyperinflation- exists because the printed money is borrowed from the issuing bank at interest, using the existing money supply as collateral.

Not entirely, governments have the ability to tax and often own assets. Even in places where hyperinflation has occurred few escaped the wrath by holding the right assets, most have no money at all including in the US. Russia defaulted on it's debt in 1998 and for all intents and purposes not much changed, things soon when back to normal. Can you show an industrialized or emerging nation where hyperinflation never ended?

It takes more dollars to buy an equal item today than it did 100 years ago, but most of us are paid more dollars. History has shown the best way to counteract this is to hold assets that throw off cash flow. Holding metals for years on end has cost people in both real and opportunity metrics. Why will crypto be any different?



Bitcoin is just software and it has a hard cap on the supply.


It has a limited supply backed by nothing more than the next purchaser willing to pay something over what the last guy paid. As a means of exchange with few exceptions it is a throwback to 1907.



Right now you can find students in pretty much every classroom who own crypto.

I wouldn't base my future on kids just out of puberty.

cloudchecker
01-24-2021, 03:33 AM
I'm back to see how much this thread evolved. Not much action even though Bitcoin and the crypto world is literally the easiest and most legit way of making money online.
I don't have an affiliate network, no email lists to send spam to. Only an ever deeper understanding of this stuff.
This is the number one dream gig for antisocial types. No need to lick the customers' asses just to sell some bullshit weight loss cream or pill.
If you get fatigued by too much human interaction this thing can be done solo.
Lots of people are unable to make a buck in even legit MLMs because they lack the people skills.
Doing the same lengthy sales pitch like a parrot over and over with less than 1 percent conversion rate is exhausting.
This is for those people who can't be bothered with the magic cures and plastic nonsense only fools would buy.
Or the sect like climate of MLM groups. I have been to numerous MLM seminars and the brainwashing is always the same. Like, "we are a family" and such while it's always a den of snakes.
I guess snakes have families too.
No need to dress up like Jehova's witnesses to preach about the best apple peeler.
The smarter and luckier ones have already made a life changing amount of money just by knowing trends and taking action in time.
The adoption curve is exponential just like in the case of the internet or any other disruptive technology.
This is nothing more than technology and you cannot go wrong by investing in relevant tech.
Bitcoin alone went up by 1000% since my last visit. Read the writing on the wall!
Corporate is going mad about buying, volume and therefore liquidity is through the roof.
Wall street has entered the game.
It was indeed foolish to miss a 1000% return. I mean do you guys hate money or what?
Don't make the same mistake twice.
At least get some Bitcoin and ETH.

Do yourself a favor and read the whitepaper.

ribshaw
01-25-2021, 01:30 PM
I'm back

Congrats on your gains. I never would have guessed BTC would have soared like this; hell I even suspected it would be at zero by now.




Bitcoin alone went up by 1000% since my last visit. Read the writing on the wall!

So have GameStop, Tesla, and a slew of other stocks. Some people will get out in time, many will get in too late and/or stay too long.



Wall street has entered the game.

Wall Street is also floating a lot of IPOs these days. History indicates most of these will decline in value. Personally, I see good and bad in Wall Street entering. I like the idea of trading on organized exchanges with zero counterparty risk and protection against fraud. I dislike how they routinely have foisted so much woo on the public near market tops.




It was indeed foolish to miss a 1000% return. I mean do you guys hate money or what?

There was a young bull and an old bull standing on a hill. The young bull says "lets run down there and screw one of those cows" to which the old bull replies "lets walk down and screw them all!"

Everyone knows the name of lottery winners, and winners that blew it all. Few stories of the millions of lottery losers. On balance the people that invest sensibly and consistently in a balanced portfolio will come out ahead in the long term.



Don't make the same mistake twice

Would that include thinking a 1000% gain will turn into 2000% only to watch it evaporate?



Not much action even though Bitcoin and the crypto world is literally the easiest and most legit way of making money online.

A lot of Robinhooders are saying the same thing about buying stocks and options. Beyond it's gone up and people say it's going to keep going up; what makes BTC any more "legit" than gold, diamonds, art, trading cards, or collector coins?

cloudchecker
01-26-2021, 05:11 PM
It's clear you don't have any insight on the software and how it does its job. Or the true technical implications of ETH smart contracts and automation protocols. Your arguments are just as valid as if you said "TCP/IP is a scam don't get fooled".
I mean there are resources to get informed and you just TL;DR the whole thing.
There is due diligence and there is luddism.
MLM truly sucks. A waste of time.
This is legit.
Sure, I'm the moron. See you at $100,000

ribshaw
01-27-2021, 12:34 PM
This is legit.


I asked you a simple question Sally, what makes it "legit" beyond it's going up in price?

As of the moment it seems to be playing a role as a store of value/capital gains; as a means of exchange on any massive scale I'm not seeing it. Further I suspect most of the recent small and probably many large scale buyers have as much insight on the software as I.

People are buying because others are buying.



It's clear you don't have any insight on the software and how it does its job

See you at $100,000

You're leading with price appreciation in both posts yourself, not software.



Sure, I'm the moron

You're a moron for getting huffy when asked to splain all this wizbang to a simple artisan like ribshaw. Is there come reason "X" crypto the price can't and won't be separated from "Y" crypto the technology?

cloudchecker
01-27-2021, 02:08 PM
See my older posts. Every link to get someone started is there. Every piece of relevant literature.
TL;DR syndrome at its best.
If you cannot google "Bitcoin whitepaper" or "ETH whitepaper" nobody in the world can possibly help you.
The price represents its assumed value. It's so high because it has a ton of uses. It is useful unlike your endless ad hominems.
But here it is in case you are unable to use a search engine on your own:
Bitcoin - Open source P2P money (https://bitcoin.org/en/)
Home | ethereum.org (https://ethereum.org/en/)
Cryptocurrency Prices, Charts And Market Capitalizations | CoinMarketCap (https://coinmarketcap.com/)

This feels like explaining gravity to a flat earther.
To understand all this wizbang you actually must be computer literate which you obviously aren't. Do you expect me to lead everyone with baby steps through years of IT basics?
All the HaaS and IaaS and stuff like that. Servers, networks and all that stuff.
You must be computer literate. There is no way around it. You must understand protocols and how things are validated. If the fundamentals are not there you're a waste of time.
Read the whitepapers. I can't just beam IT into your head.

ribshaw
01-28-2021, 12:30 PM
It is useful unlike your endless ad hominems.

Oh Sally, I don't know which I find more enjoyable your pouting, market timing skills, or the irony.




It's clear you don't have any insight on the software and how it does its job.
Your arguments are just as valid as if you said "TCP/IP is a scam don't get fooled"
I mean there are resources to get informed and you just TL;DR the whole thing.
There is due diligence and there is luddism.
TL;DR syndrome at its best.
If you cannot google "Bitcoin whitepaper" or "ETH whitepaper" nobody in the world can possibly help you.
But here it is in case you are unable to use a search engine on your own:
This feels like explaining gravity to a flat earther.
To understand all this wizbang you actually must be computer literate which you obviously aren't.
Do you expect me to lead everyone with baby steps through years of IT basics?
If the fundamentals are not there you're a waste of time.
Read the whitepapers. I can't just beam IT into your head.


I would like to point out for the class you showed up in this thread 12/09/2017 two short days before Bitcoin's then peak of $19,140.80 interactive bitcoin chart - Yahoo Search Results (https://search.yahoo.com/search?p=interactive+bitcoin+chart&fr=yfp-t-s&ei=UTF-8&fp=1) regaling us with your wisdom-ness. For the next two years people were puking on their shoes getting out of Bitcoin yet no Cloudchecker buy signals. Now near record highs for quite a few asset classes you show up. How impressive is that?



See my older posts.

Check...

This thread would have been a tad more engaging if you protested my endless homilies. One day I only wish to be half as clever as you are wise.

cloudchecker
01-28-2021, 02:10 PM
Address your complete lack of computer literacy or enrcyption knowledge and then we can discuss things like adults. In the meantime you can make some pasta art or something.
I won't give you free buy signals. I paid for my knowledge; why would I exchange all of it for your kind words?
Markets are cyclical. Up and down. Bitcoin is crashing and you would puke into your shoes in panic.
It has been crashing all its lifetime but it appears to be tumbling upwards.
You can't grasp the logarithmic graphs, can you?
Recently it crashed all the way up to $42000.

We really can't speak the same language if you have no knowledge of how cryptography and crypto coins work.
Not only you are not miner material, you are not investor material either.
https://www.youtube.com/watch?v=6OXAkf0tGLM

cloudchecker
01-28-2021, 06:33 PM
According to your logic people must chew your food and spit it in your mouth or it must be a scam.
Have fun missing out on the biggest profit.
You don't even read the technical descriptions linked in my posts.
I mean ETH is entering a new band on the logarithmic scale but that is too much math for you to understand.
If that is not a definite buy signal I don't know what is.

ribshaw
01-29-2021, 01:54 PM
Not only you are not miner material, you are not investor material either.


TL;DR Sally

https://realscam.com/f12/investing-eye-fraud-prevention-4217/

https://realscam.com/f12/optionsellers-com-implodes-5421/

https://realscam.com/f12/evolution-investment-agency-5258/

https://realscam.com/f12/short-volatility-funds-implode-5146/

https://realscam.com/f12/steve-sitkowski-pro-trader-institute-3092/

https://realscam.com/f8/elevation-investment-intelligence-corporation-dba-prophetmax-managed-fx-senen-pousa-joel-friant-michael-dillard-3445/

ribshaw
01-29-2021, 02:10 PM
I won't give you free buy signals.

Pay the man folks #SallytheTout @Zelle



It was indeed foolish to miss a 1000% return. I mean do you guys hate money or what?
Don't make the same mistake twice.
At least get some Bitcoin and ETH.



Sure, I'm the moron. See you at $100,000



Have fun missing out on the biggest profit.



If that is not a definite buy signal I don't know what is.

ribshaw
01-29-2021, 03:20 PM
According to your logic people must chew your food and spit it in your mouth or it must be a scam.

I'm here to play the foil and make people rethink investing with this sort of logic.



Hello people,
I was scanning for reviews of this specific program when I stumbled upon this forum thread. I am in this kind of business so I will check it out.
The valid questions regarding such programs as this one are:
-Does it pay?

My only red flag might be the "too good to be true" price.

I'll give it a try

https://realscam.com/f8/coingeneration-com-opportunity-scam-2387/



Peter Lynch once said something to the effect of "most people spend more time planning their vacations than they do investigating investments" and "never invest in anything you can't explain with a crayon." I find both of those maxims very valuable.


Colloquially I may have referred to Bitcoin as a scam, although I don't even know if I said that. What I have been very consistent about Sally Strawman are my concerns about it as an investment divorced from the technology. Too many people are willing to send their money to a promoter of "X" opportunity as opposed to having an audited, perhaps even insured third party hold the money. The result in the former is almost always predictable, the promoter has been faking returns and the money is gone.



I use exchanges like kucoin, bittrex, cryptopia, however my holdings on yobit are very tiny. I obviously don't hold everyhing in exchange wallets. Only what I use to trade


Any number of people have woke up to find their Bitcoin wallet has been drained; this was and is an unacceptable and unnecessary risk to me. Now that Wall Street has entered the game things on the risk(avoiding scams) front are more appealing as I posted earlier. Enjoyably though you were too busy throwing a temper tantrum about making train noises and having to spoon feed me to notice.

cloudchecker
01-29-2021, 11:37 PM
Drained wallets are not bitcoins fault. It's user error. It is sloppy security practices on your side.
Your wallet is only as secure as you make it.
Losing your wallet to bad actors is a common thing. Not more or less common than other money handling accounts.
Which I would not doubt in your case as you are a complete moron. Maybe JesusSaves777 is not a really good password.

As I have said you are completely clueless about crypto. I mean I linked the sources for you. All the literature, directly from the authors.
All in vain when it's a retard like you.

In case you missed it, I don't even give a referral link to my whatever business you assume I do. I don't need one and I'm not here to build a downline.
A computer literate person would actually read the whitepapers and make sense of them. "Oh maybe I can run this on my machine and see how it works"
Not you though because everything is a scam for you.
It's easy money but you need to know a thing or two about computers. On the Bitcoin network you run them to execute a cryptographic function and verify transactions.
You would know that by now if you could read the bloody whitepapers.
There is nothing shady about running computers and providing a function for money. It's only bullshit when there are people like behind that coingeneration nonsense.
Address your complete lack of IT knowledge and we can talk.
Jesus Christ what an imbecile.

cloudchecker
01-29-2021, 11:45 PM
Read the bloody whitepapers.

ribshaw
01-30-2021, 02:59 PM
Ribshaw is torn between the joy he gets exacerbating Sally's mouth breathing and the satisfaction of providing useful content. Every time he thinks of those chubby little cheeks getting all flush, well let's just say content suffers.


Wall Street putting out stuff like this that people wildly overpay for...


“The people who are buying into crypto are saying I don’t understand Bitcoin, just give me a reasonably constructed index,” said Kyle Samani, co-founder and managing partner at Multicoin Capital. “I don’t think they can justify the premium, I just think they don’t know what they’re buying. That’s not justifiable, that’s just ignorance.” Bloomberg - Are you a robot? (https://www.bloomberg.com/news/articles/2020-12-16/new-crypto-fund-is-trading-at-369-premium-over-assets-it-holds)


People still willing to pay 74% more than the sum of the parts???

Market Price yesterday's close $55 / Net Asset Value $31.52
Bitwise - Cryptocurrency Index and Beta Fund Provider (https://www.bitwiseinvestments.com/funds/Bitwise-10)

Message board still littered with people that have not a clue what they are buying???

BITWISE 10 CRYPTO INDEX FD UNIT (BITW) Stock Forum & Discussion - Yahoo Finance (https://finance.yahoo.com/quote/BITW/community/)

Sally's return???

ribshaw
01-31-2021, 06:45 PM
The only people that buy the bottom and sell the top are the liars.

However, when funds in certain sectors start to blow up and liquidate; when Wall Street loses interest sometimes opportunity is a knocking. The West Texas May Oil Futures Contract closed negative on April 20, 2020. Bloomberg - Are you a robot? (https://www.bloomberg.com/opinion/articles/2020-08-04/some-people-made-money-on-negative-oil-prices) Something like this happens every few years. Some energy funds were and have been liquidating since that time. What return could have been realized if an investor bought a large basket of energy stocks during the mayhem?

What happened if an investor bought when Wall Street lost interest in Bitcoin?



Published Mon, Mar 18 2019 when Bitcoin was around $4,000.

Cboe to stop listing bitcoin futures as interest in crypto trading cools (https://www.cnbc.com/2019/03/18/cboe-to-stop-listing-bitcoin-futures-as-interest-in-crypto-trading-cools.html)





His technique was the essence of simplicity.

When he saw that the newspapers and TV were full of dire predictions about the market and warnings of doom and gloom were everywhere, he jumped in his truck, drove to town and bought a bunch of stocks that had fallen a lot and paid dividends. He then drove home and went back to doing whatever it is farmers do with their time.

When he saw a few years later that the news was now full of confident forecasts of continually rising stock prices and bold headlines of the massive profit potential of stocks, he drove back to town and sold them. He went back to farming until the news once again turned dark and ugly and repeated the process.

How Investing Is Like Farming - Doubling Dollars (http://www.doublingdollars.com/how-investing-is-like-farming/)

Two other Crypto products GBTC (holds Bitcoin) and has traded for some time. ETHE (holds Ethereum) and started trading June 2019. As with BITW above some people that bought during the second week of trading may have to wait years just to break even. As far as I know both trade at a slight premium to their net asset value. Personally I like to see Wall Street's involvement for reasons I have previously stated, but haven't seen anything yet excites me about reaching in my piggy bank.

Of course this isn't an investment site so people have to make their own buy/sell decisions.

ribshaw
02-01-2021, 04:27 PM
Read the bloody whitepapers.

What's black and white and read all over???

My neighbor's newspaper when I get up before he does.



Juxtaposed with your incessant prattling I found something interesting in today's paper.

A few tidbits...




In November 2018, New York state Attorney General Letitia James invoked the Martin Act to begin an investigation into iFinex, which owns Tether and the Bitfinex cryptocurrency exchange, “in connection with ongoing activities that may have defrauded New York investors.”

All that glitters is not gold. In 2019 Tether subtly updated its claim to say reserves “may include other assets and receivables from loans made by Tether to third parties.” Tether has even admitted it only has 74% of the cash or cash equivalents to back its stablecoin. Hmmm. Basically unbacked.

On Medium a few weeks ago, a poster named Crypto Anonymous (for what it’s worth, know your customer) did some digging and found that as much as two-thirds of bitcoin buys on any given day were purchased with tether, though crypto bulls insist that Chinese crypto investors use tether as a way to buy bitcoin. Try verifying that! The chart of bitcoin vs. tether issuance sure looks correlated, but a study published at the Center for Economic and Policy Research found no correlation. And I should note that wallet provider Coinbase, the largest holder of Bitcoin, says it “does not support USDT.” Do they know something?

So all crypto eyes are on mid-February. The power of the subpoena is strong. I have no insight into what New York’s attorney general will find. She might close the investigation and go on her merry way because there’s no crime, or uncover a fraud that could make Bernie Madoff look like he was stealing from a lemonade stand.


Behind the Bitcoin Bubble - WSJ (https://www.wsj.com/articles/behind-the-bitcoin-bubble-11612125537)


The Bit Short: Inside Crypto’s Doomsday Machine | by Crypto Anonymous | Jan, 2021 | Medium (https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3)

ribshaw
02-01-2021, 05:46 PM
Virtually every scam blog of any significance has some dupe or pimp with a version of "you guys call everything a scam".


https://realscam.com/f8/bit-billions-bitbillions-com-2083/#post47443

USI-tech claims its' sale of unregistered securities in US "legal" (https://realscam.com/f9/usi-tech-claims-its-sale-unregistered-securities-us-legal-4873/)

DIGITEX "Bitcoin Futures Trading" (https://realscam.com/f8/digitex-bitcoin-futures-trading-5095-post119219/#post119219)

Bit Club Network - bitclubnetwork.com (https://realscam.com/f9/bit-club-network-bitclubnetwork-com-3436-post76297/#post76297)




Not you though because everything is a scam for you.


I've been posting here for eight years this month; If I've called something a scam you believe not to be a scam please quote me in full and in context.

ribshaw
02-01-2021, 06:13 PM
In case you missed it, I don't even give a referral link to my whatever business you assume I do.

In case you missed it I could not care less what you do. You own Bitcoin and showed up telling people to buy Bitcoin. That's no different than posting a referral link now is it?




A computer literate person would actually read the whitepapers and make sense of them. "Oh maybe I can run this on my machine and see how it works"

There is nothing shady about running computers and providing a function for money.


If someone wants to mine crypto they should research it and do it. I've never said there was anything shady about it as long as the miner is in control of their machines. Personally, I don't want to mine crypto anymore than I want to own rental real estate or a snow cone franchise. For all your FIGJAM-ing you sure do tilt easily and miss major points.

The problem with "mining" lies in all the plug and pay being sold as passive income such as Dunamis Mining, The likes of https://realscam.com/f11/ari-maccabi-ponzi-pimp-his-brand-4844/index5.html#post126736 make all sound so easy. Too many people get sucked into a hot market with the promise of turning an apple into an orchard. FFS the same mining scam was run three times out of the same address Dunamis listed. Probably a dozen or more mining threads on RealScam that all ended the same way.




It's easy money

No such thing for the masses.

ribshaw
02-02-2021, 12:48 PM
One of my favorite sites for reviewing business opportunities is BehindMLM: The latest MLM news and reviews (https://behindmlm.com/). Of course plenty of people scream "Oz calls everything a scam", yet more often than not he's been proven correct. Product based pyramid type schemes can drag on for years. This has led some to claim see he got such and such wrong. Independently audited proof the 70% rule is being follwed https://realscam.com/f21/case-law-mlm-recruiting-scams-2848-post111455/#post111455 might be more well founded than the I told you so often bleated by pyramid promoters as the exception to the rule.

All Ponzi schemes end when requested withdrawals surpass new funds and/or the odd situation where regulators move in.

Dec.22, 2017 in MLM Reviews





Dir Team, how do you check your facts???

Gerrit

Start Options Review: A crypto mining & trading billion dollar company? (https://behindmlm.com/mlm-reviews/start-options-review-a-crypto-mining-trading-billion-dollar-company/)

Today...




Bitcoiin insider and top promoter John DeMarr has been arrested ‘for his alleged participation in a coordinated cryptocurrency and securities fraud scheme’

Bitcoiin had previously done business under different corporate names, including the name “Start Options” in or about the fall of 2017.

Bitcoiin's John DeMarr arrested on securities fraud charge (https://behindmlm.com/companies/bitcoiins-john-demarr-arrested-on-securities-fraud-charge/#comments)

To my knowledge it's proven more profitable to invest directly in some crypto coins and/or mining than most of the gives us a few and we'll passively return you many opportunities floating about. Just because a mining/trading pool has been running and paying for years doesn't mean it's on the up and up.


Anything that slightly smells like this if sold to US citizens en masse must be registered with the SEC. This is true if it is registered offshore, pretending to be a lease, or whatever protests the guy pretending to be a girl on Instagram might give.

Under the Howey Test, a transaction is an investment contract if:

It is an investment of money
There is an expectation of profits from the investment
The investment of money is in a common enterprise
Any profit comes from the efforts of a promoter or third party

What Is the Howey Test? - FindLaw (https://www.findlaw.com/consumer/securities-law/what-is-the-howey-test.html)




https://www.investor.gov/introduction-investing/investing-basics/glossary/registration-under-securities-act-1933

ribshaw
02-03-2021, 01:12 PM
This makes premium no sense to me. As I read the underlying value as of yesterday's close for Grayscale Litecoin Trust (LTCN) is $13 but the market price is $233. So a few people are willing to pay almost 18X the underlying value??? Put another way, someone could by almost 18 Lightcoin for the price of 1 LTCN share that holds 1 Lightcoin??

Maybe don't be that guy???

Market Price per Share*
At close as of 02/02/2021
$233.00

LTC Holdings per Share**
At close as of 02/02/2021
$13.00

https://grayscale.co/litecoin-trust/

GRAYSCALE LITECOIN TR LTC (LTCN) Interactive Stock Chart - Yahoo Finance (https://finance.yahoo.com/quote/LTCN/chart?p=LTCN)

Many of their offerings appear to be open to accredited investors. I briefly read a message board post that the accredited investors are able to buy at NAV and I believe I read somewhere else they must hold from 6 to 12 months before being able to sell. Sorry as everyone knows I hate to read so somebody would have to actually read the offering documents to clarify.

In theory if someone could buy at NAV and short the shares of the same product in the open market they could lock in a significant risk free profit. Of course they would have to be able to hold the trade until the lock up expires and cover any short interest costs. Assuming they could even find the shares to borrow and sell short. Again this is something I have not explored beyond one message board so do your own due diligence.

The above is crazy and I have to think at some point all of these products will have to trade much closer to Net Asset Value.

https://grayscale.co/wp-content/uploads/2021/01/Grayscale-One-Pager-January-2021-Final.pdf

ribshaw
02-03-2021, 02:46 PM
I have no idea if Gamestop will hit $1000 anymore than if Bitcoin will hit $100,000. I also don't know if the Yahoo GME message board posters have much different reasons than some posters on Crypto boards for buying/selling and posting.

Ultimately unless people are just gambling they should have a sound decision method including proper position sizing before making wagers. Too many speculate in a manner that will wipe them out with message boards being a source of confirmation bias rather than a tool or entertainment.

The Gamestop story has fascinated me for the past few days. First of all I have no idea if this poster is sincere, but I'll take them at face value. They lost buying other highly shorted stocks, but know GME is the real deal.




Guys, I was sceptical about this whole thing too. I bought AMC NOK and BB since I expected that they go sky high since it will be hyped as well. I sold all of it with loss. But today I bought GME. WHY? Because I did research and saw this is unique for sure. Since this whole thing was shorted over 100% they haven't bought back all the shares they need. They still paying millions on interest for the borrowed share. They really try to lower the price artificially. No Robin Hood isn't an evil part of the game, they just caught up by margin problems. But it helps to keep the price low. The users shifting to other platforms now to buy. In this constellation and with enough buyers (only a few knowing what they are doing) this actually really could make history as the biggest short squeeze since Volkswagen. Check it out, the path there was similar. But this could be Volkswagen on steroids. I went in with 1000 shares, knowing it can be a total loss but there is a real chance of taking part in this unique happening. It's not over. BTW I'm not angry on hedge funds I just see a unique set up which want to play ;) GameStop Corporation (GME) Stock Forum & Discussion - Yahoo Finance (https://finance.yahoo.com/quote/GME/community?p=GME)


According to this article the short interest in GME is nothing close to 100% anymore. Since shorting (selling shares you don't own in hopes of buying them back later at a lower price) requires the short seller to buy shares at some future point the pool of buyers the above poster is counting on appears to be greatly diminished. Could GME still go to $1000, didn't I just say I have no idea?


Short interest in the video-game retailer plummeted to 39% of free-floating shares, from 114% in mid-January, according to IHS Markit Ltd. data. Data from S3 Partners, another market intelligence firm, showed a similar pattern, with GameStop’s short sales having fallen to about 50% of its total stock available to trade, down from a high of roughly 140% reached earlier this year. Bloomberg - Are you a robot? (https://www.bloomberg.com/news/articles/2021-02-01/gamestop-short-interest-plummets-in-a-sign-traders-are-covering)

I don't see the above as much different than people buying LTCN above at a massive premium to the underlying value. With GME as with some of the "crypto" stocks there are limited risk ways to trade using options. They are far from being free money and the risk reward isn't all that compelling IMO, but also beat blowing up a trading account if something does go wrong. I would love to see liquid options trading for Crypto on major US exchanges for risk management reasons alone.

ribshaw
02-04-2021, 12:55 PM
Christopher Mitchell magic water MLM days.


Let's see how real businessman promote their product:

24579

But, wait is there a legitimate product? I think he is just recruiting suckers for his downline by waving piles of play money. Go play Monopoly son, that is the only time smart people will have anything to do with clowns waving bills around!

Soapboxmom

https://realscam.com/f9/trey-whites-evolv-water-vs-world-renowned-md-anderson-cancer-center-86/

https://realscam.com/f9/trey-whites-evolv-water-vs-world-renowned-md-anderson-cancer-center-86/index9.html#post4077



Christopher Mitchell I'll teach you how to play professional Baccarat days.



24580

Blatant YouTube Baccarat Scammer Christopher Mitchell “Professional Gambler” (https://pokerfraudalert.com/forum/showthread.php?20297-Blatant-YouTube-Baccarat-Scammer-Christopher-Mitchell-%93Professional-Gambler%94)

Because casinos love skilled Baccarat players so much they wage years long court battles...

Poker Legend Phil Ivey Settles $10.1 Million Lawsuit With Borgata (https://www.cardplayer.com/poker-news/25107-poker-legend-phil-ivey-settles-10-1-million-lawsuit-with-borgata)

Now Crypto Christopher Mitchell...

24581


$1,000 becomes $1M from the guy that probably turned $1M into $1000 Martingale wagering. In all sincerity I would read Sally's whitepapers mouthing each word before sending this guy one dime.

cloudchecker
02-05-2021, 03:26 AM
Maybe if you weren't a complete imbecile you would not call a man Sally.
That and your assumption that someone is dumber than you sounds kind of misogynist. It might hurt your feelings but plenty of women are smarter than you. Not that it's a hard task anyway.
A whitepaper is the technical description of the entire bitcoin and ethereum protocol respectively.
It has all the Math you could ever wrap your dumb head around.
Maybe read from the original source every once in a while. It is right there in my links I posted. Don't worry it's not a virus because I'm not a hack like you.
Use a sandbox browser for all I care.
But be on the safe side and put all your money in the bank in a savings account. They offer a generous 1% per year. A $1000 investment so later you can afford a haircut.

The difference between us is that I've actually put the price of a good pair of shoes into ETH right after my last reply.
Coinmarketcap is actual real time data with charts and numbers.
Somehow I trust raw data more than your incoherent drunk Santa blabbering.

I'm gonna have so much fun when I return to serve a tall glass of "I told you so".

cloudchecker
02-05-2021, 03:47 AM
Read from the source.
Bitcoin - Open source P2P money (https://bitcoin.org/en/)
Home | ethereum.org (https://ethereum.org/en/)

The rise in value is not a coincidence. It's booming because crypto is carrying a lot of infrastructure on its back. Movement and governance of huge data loads. Inventory tracking and such. IoT projects and vast game universes.
Automated smart contracts and quick transfer of ownership.

This is not an MLM with all promise and no actual value.

PS. I would totally look better as a Sally than you could ever dream of becoming because I'm not a gargantuan soggy couch potato like you.

ribshaw
02-05-2021, 01:19 PM
Drained wallets are not bitcoins fault. It's user error. It is sloppy security practices on your side.
Your wallet is only as secure as you make it.
Which I would not doubt in your case as you are a complete moron. Maybe JesusSaves777 is not a really good password.


My password is Moses-Invest$419, hopefully the addition of a random symbol will be up to snuff.



German authorities who seized a convicted hacker’s wallet containing over 1,700 bitcoin (BTC) – worth at least $64.7 million at today’s prices – have hit a brick wall when trying to access the coins.

Hacker Refuses to Hand Police Password for Seized Wallet With $6.5M in Bitcoin (https://finance.yahoo.com/news/hacker-refuses-hand-police-password-132051515.html)




Losing your wallet to bad actors is a common thing. Not more or less common than other money handling accounts.

Yes, and when your money is held by many custodians there is protection against hacking.




However, most brokerage firms do have policies stating that they will reimburse you for any amounts lost to “unauthorized activity” as long as you take some basic precautionary steps. These steps vary from firm to firm, but generally include the following:

Creating strong passwords and security questions
Keeping your login and account information private
Keeping contact information up to date
Monitoring your accounts, statements, and transaction confirmations on a regular basis
Notifying the brokerage firm promptly of any suspicious activity
Cooperating with the brokerage firm during any investigation of suspicious activity

For example, you can see Vanguard’s policy here, Schwab’s policy here, and TD Ameritrade’s policy here. You should also be able to look up your current custodian’s “fraud policy” by Googling it.



As we'll see in our next post there's are valid reasons to have your money held with traditional custodians. While I don't know the details, I'll bet there will be protections built in for some portion of the above.



If approved by FINRA, shares in the Bitwise fund would be available for trading in traditional brokerage accounts and could be held with traditional custodians, according to the release.

Bitwise Files for Approval to Publicly Trade Its Bitcoin Fund (https://finance.yahoo.com/news/bitwise-files-approval-publicly-trade-160003309.html)

ribshaw
02-05-2021, 01:36 PM
This is exactly why you don't hand money over to an investment guru and instead use an independently audited third party custodian.





Between 2017 and 2020, Qin operated two funds, Virgil Sigma Fund LP of New York and VQR Multistrategy Fund LP of the Cayman Islands. During that time Qin lied to investors and siphoned off the roughly $90 million from Sigma to fund a lavish lifestyle, per the release.

He further lied about the performance of the Sigma fund and the whereabouts of investors’ money, as well as attempting to cover his fraud by paying back Sigma investors by dipping into VQR funds.

Crypto Hedge Fund Founder Pleads Guilty to $90M Fraud (https://finance.yahoo.com/news/crypto-hedge-fund-founder-pleads-090708454.html)

That OZ, he calls everything a scam.



If Swag was actually generating ROI revenue via mining, there’d be no need for Estonian shell companies and corporate secrecy. Swag would also be registered with CONSOB, Italy’s SEC equivalent.

Swag is also not registered with the CNMV in Spain, meaning at a minimum it is committing securities fraud in its two primary investor markets.

As with all MLM Ponzi schemes, once affiliate recruitment dries up, so too will new investment

Swag Review: Bitcoin mining Ponzi scheme (https://behindmlm.com/mlm-reviews/swag-review-bitcoin-mining-ponzi-scheme/)

ribshaw
02-05-2021, 02:03 PM
Maybe if you weren't a complete imbecile you would not call a man Sally.

That and your assumption that someone is dumber than you sounds kind of misogynist.

It might hurt your feelings but plenty of women are smarter than you.

Not that it's a hard task anyway.

PS. I would totally look better as a Sally than you could ever dream of becoming because I'm not a gargantuan soggy couch potato like you









What does it mean to call someone a Sensitive Sally?




Sensitive sallies get emotional very quickly, they don't take critisism very well

What does "if you are a sensitive sally" mean? - Question about English (US) | HiNative (https://hinative.com/en-US/questions/5415827)

Urban Dictionary: sensitive sally (https://www.urbandictionary.com/define.php?term=sensitive%20sally)

An overly emotional and easily deflated male who cries a lot.








Could you use Sensitive Sally in a sentence.



Cloudchecker is a Sensitive Sally.




You can't use the definition in the sentence.




Shut up Ribbie you elementary school educated slovenly obese imbecilic man child that thinks whitepaper is the roll hanging in his outhouse!




Use a sandbox browser for all I care.


Like where I play mash-up with my Tonka trucks? Feels so good to finally get one.:RpS_thumbsup:


I would suggest that you google the Dunning Kruger Effect as I think you are a little less clever than you believe. You may be the only person not in on the joke that I'm trolling for your petulant reactions.

On that note, over the weekend I will decide a new pet name for you...

The first being Petulant Percy.
The second being Dunning Invest Crypto Kruger which I will shorten only if a clever acronym exists.

ribshaw
02-08-2021, 01:49 PM
Sadly both of these articles require a subscription to read beyond the first paragraph or getting up before I get up to get dibs on my neighbor's paper.


Elon Musk’s Dogecoin Tweeting Has Believers Barking for More
Cryptocurrency that started in 2013 as a joke is suddenly worth a total of more than $6 billion

Elon Musk’s Dogecoin Tweeting Has Believers Barking for More - WSJ (https://www.wsj.com/articles/elon-musks-dogecoin-tweeting-has-believers-barking-for-more-11612607401)

Is GameStop a Bubble? History’s Spectacular Crashes, From Tulips to Beanie Babies. - WSJ (https://www.wsj.com/articles/is-gamestop-a-bubble-historys-spectacular-crashes-from-tulips-to-beanie-babies-11612607400)


Tesla buying $1.5 billion in bitcoin

Inline XBRL Viewer (https://www.sec.gov/ix?doc=/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm)




The cryptocurrency has more than tripled in value since the CME announced plans to list futures contracts on Dec. 16, mimicking bitcoin’s surge from $6,000 to $19,783 seen in the weeks leading up to Dec. 17, 2017, when the exchange began trading bitcoin futures. Ethereum Futures Are Now Trading on CME (https://finance.yahoo.com/news/ethereum-futures-now-trading-cme-100422811.html)

ribshaw
02-08-2021, 01:54 PM
What's another $70M based on fake statements?



Serbia has extradited a man to the U.S. after he was indicted by a Dallas-based federal grand jury on allegations that he duped investors around the globe – several of whom are in northern Texas – out of more than $70 million.

The scheme involved soliciting investments in binary options and cryptocurrency mining, the U.S. Department of Justice alleged.

Serbian Man Extradited to US After Being Indicted in $70M Crypto Fraud (https://finance.yahoo.com/news/serbian-man-extradited-us-being-173517039.html)

ribshaw
02-08-2021, 03:14 PM
Yeah, I'm sort of fond of the Sally moniker.



Coinmarketcap is actual real time data with charts and numbers.
Somehow I trust raw data more than your incoherent drunk Santa blabbering.

A big problem Sally is virtually all of your comments other than blubbering about how dull-witted I am have nothing to do with anything I've said. Nowhere have I ever said someone can't get real time data or charts. There's is a wittle bitty button on the bottom of the page that says "Reply with Quote" try using it sometime so as not to continually misrepresent my statements.




Straw man - Wikipedia (https://en.wikipedia.org/wiki/Straw_man)

A straw man (sometimes written as strawman) is a form of argument and an informal fallacy of having the impression of refuting an argument, whereas the proper idea of argument under discussion was not addressed or properly refuted.[1] One who engages in this fallacy is said to be "attacking a straw man".

The typical straw man argument creates the illusion of having completely refuted or defeated an opponent's proposition through the covert replacement of it with a different proposition (i.e., "stand up a straw man") and the subsequent refutation of that false argument ("knock down a straw man") instead of the opponent's proposition.




The difference between us is that I've actually put the price of a good pair of shoes into ETH right after my last reply.

I'm sure Buster Brown is all weepy about $39.95 in lost revenue.

The differences between us are much more significant than that. Unfortunately you seem to not comprehend that not everyone should be investing; especially if they are doing it based on message boards. Lost in the handful of success stories of the Gamestop squeeze will be bankruptcies and suicides from people that were too ill informed to play the game. I could give two shits if some rich assholes lose their money, but not so much for a family that just lost it all based on naivete and a few tweets.





But be on the safe side and put all your money in the bank in a savings account. They offer a generous 1% per year. A $1000 investment so later you can afford a haircut.

Yet another Strawman.

Let's say a retiree has $1M in a stock portfolio yielding 3% that 9 months ago was worth $500K and they were scared to death. Another 50% drop would wipe out 10 years worth of income factoring in dividend increases (if any) with no guarantee of a recovery.

What of all the people that lost their jobs due to a once in a century pandemic that were forced to sell 401ks at the bottom? Did your precious BTC during the depths of the last panic not crash from $10k to $3.5K? Did it not rise with everything else? Someone must have sold at the bottom.

For many people the safety of a bank account is exactly where they should be.



I'm gonna have so much fun when I return to serve a tall glass of "I told you so".

To recap your timing at RealScam:

You joined a Ponzi Scam

You first showed up in this thread two days before BTC peaked and proceeded to lose around 80% of its value peak to trough

When BTC represented a good long term HODL here you are talking trading.




01-13-2019

If you guys decide to trade well I trade too with more or less success.

24588

After a 100% or more rise from the March 2020 lows in many asset classes here you are again. Maybe Crypto has suddenly become decoupled from other asset classes? When the next panic hits people will dive deeper into BTC driving the price even higher? Or will they need to sell BTC to meet margin calls and general living expenses as they did in the last panic?

Most assets in general look very much to me like a debt infused bubble; when it ends is anyone's guess. If you were here addressing position sizing and risk management with more than a trite egg comment this would be a much more useful conversation. Little is truly one size fits all Sally. However, considering your timing thus far I hope you get the W on this one.

ribshaw
02-09-2021, 01:46 PM
This is not much different than GreenDot card scams of yore.


The caller falsely identified himself as a police officer and told the female her bank account was about to be frozen and she should go and withdraw all the money,” police said.
Story continues below advertisement

“She was also warned not to discuss this with anyone as it would jeopardize an ongoing investigation.”

Police said the woman withdrew $6,200 from her account and then deposited it into a Bitcoin machine at a downtown business.
Another Guelph resident falls victim to Bitcoin scam: police | Globalnews.ca (https://globalnews.ca/news/7627439/another-guelph-bitcoin-scam/)


Gamestonk price day of Elon's tweet $148, price the next day $348. $48.43 as I type.:pao:

https://twitter.com/elonmusk/status/1354174279894642703?lang=en
gme interactive chart - Google Search (https://www.google.com/search?client=firefox-b-1-d&q=gme+interactive+chart)



I mixed on Elon's responsibility to educate his followers. Many people don't care, are oblivious, or self-servingly time their comments. As with GME investors by default ultimately must take ownership for better or worse.

Ethical quandaries aside this link has some tips on wallet security.


said Musk should be taking the time to educate his followers on everything there is to know about crypto and the risks around fraud.

“Any of these celebrities getting involved in this tend to give [bitcoin] greater credence and more respectability; that does persuade people who are on the sidelines to join it,” he said.

“Unfortunately, Mr. Musk is not living up to his responsibility. As a very influential person, he’s failing to ensure that he does protect people against loss.”

Growing interest in cryptocurrency is leading to more scams (https://sports.yahoo.com/growing-interest-in-cryptocurrency-is-leading-to-more-scams-195512957.html)

ribshaw
02-10-2021, 02:07 PM
But I saw the guy on TV and the newpaper; Shirley the reporters fact checked.




The 24-year-old Qin managed and ran Virgil Capital, his crypto fund since 2016, supposedly handling millions of dollars worth of client investments. His falsely marketed profits landed him a spot on CNBC as a financial whizkid and even a feature on the reputed financial publication WSJ.

24-Year-Old Trader Convicted After $90 Million Crypto Scam - Decrypt (https://decrypt.co/56670/24-year-old-trader-convicted-after-90-million-crypto-scam)

This sounds a little more sophisticated than a weak password and why I still insist on a rotary phone.



In a SIM-swapping attack, criminals can gain control over a SIM - the small computer chip that carries a phone number used to identify a customer on a telecommunication network. Usually a phone company is tricked into deactivating a working SIM and transferring its functions to one controlled by the hackers.

"This enabled (hackers) to steal money, cryptocurrencies and personal information, including contacts synced with online accounts," Europol said in a press statement detailing the operation.

Europol: 10 held for alleged $100m cryptocurrency theft from celebs, others (https://finance.yahoo.com/finance/news/europol-10-held-alleged-100m-102430501.html)

ribshaw
02-10-2021, 02:13 PM
Like the time Mrs. Ribshaw took the keys to my El Camino.



Saying Freewallet’s app “sucks,” Musk stated Wednesday his belief that crypto users should avoid wallets that do not give them access to their private keys.

The sentiment has given rise to the popular expression, “Not your keys, not your coins.”

Elon Musk Bites Back at Freewallet After Dogecoin Tweet (https://finance.yahoo.com/news/elon-musk-bites-back-freewallet-120742968.html)

ribshaw
02-11-2021, 01:00 PM
If memory serves this exchange had insurance to protect users against this sort of thing and users will be made whole. It pays to call the insurance company directly and verify there is in fact insurance and follow up periodically that premiums are current. We've seen plenty of scams claiming deposits and or investment losses are fully insured by Lloyds or some other nonsense.



"A best practice is not to store and hold large amounts of funds in hot wallets on exchanges but rather transfer to either a cold hardware wallet (that has appropriate recovery codes set and stored securely) or to a standard bank account as the case may be on completion of the exchange transaction,” Brad Mackenzie, CEO of IT security firm Clear Skies

Yet another crypto exchange has fallen victim to a massive hack | TechRadar (https://www.techradar.com/news/yet-another-crypto-exchange-has-fallen-victim-to-a-massive-hack)

Lot's of opportunities abound to invest your crypto...



Yearn.finance allows its users to deposit funds in collective digital pools called "vaults." The vaults are then handled like actively managed mutual funds, with the funds used in other "decentralized finance" or "DeFi" offerings with the goal of generating additional earnings.
Hacker Steals $2.8 Million from Cryptocurrency 'Vault' Despite 'Unhackable' Blockchain Security (https://www.newsweek.com/hacker-steals-28-million-cryptocurrency-vault-despite-unhackable-blockchain-security-1567022)

Or steal your keys...



Yearn Finance doppelganger scam tries to trick visitors out of their keys

Users who are new to crypto and are not aware of the importance of keeping their private keys “private” may easily fall for these scams and give the scammers easy access to their funds.
Yearn Finance doppelganger scam tries to trick visitors out of their keys (https://cointelegraph.com/news/yearn-finance-doppelganger-scam-tries-to-trick-visitors-out-of-their-keys)

Money Printing solves everything until the day it doesn't.



Yearn announced Tuesday that they opened a Maker vault with YFI tokens from the treasury and minted 9.7 million DAI tokens from the vault to keep the yDAI vault intact. Using borrowed money allows the project to reimburse users without taking a hit to the treasury, either due to possible YFI appreciation or by gradually repaying the debt with protocol revenue. The team said that this is a one-off occurrence, as they expect users to hedge their own risks by purchasing coverage from Yearn ecosystem member Cover, which also got hacked recently.Yearn.Finance puts expanded treasury to use by repaying victims of $11M hack (https://cointelegraph.com/news/yearn-finance-puts-expanded-treasury-to-use-by-repaying-victims-of-11m-hack)

ribshaw
02-12-2021, 12:43 PM
Before we get to the good news...




Bitcoin mining provides a way to get new coins without exchanging or buying them. However, mining is a resource-intensive activity. New Bitcoins mining is a unique process that requires massive amounts of electricity and processing power. As such, you need a lot of money to mine Bitcoins.

But, regular users can rent server space and start to mine Bitcoins. You will come across companies that provide lifetime contracts to ensure the same costs. These promise investors outstanding returns. But, as Bitcoin mining becomes more complicated, the investment returns continue to decline.

What’s more, some companies are not transparent when making claims about their diminishing returns and actual costs. Some will even run Ponzi schemes with massive losses. Investors should consider the available opportunities carefully and analyze the associated costs and risks before investing.

Common Bitcoin Scams to Avoid - Tech Guide (https://www.techguide.com.au/news/cryptocurrency/common-bitcoin-scams-to-avoid/)




In the SMS, the scammer told him that there were suspicious activities in his T-Mobile account.

In fact, the fake mobile provider representative claimed there were attempts to change his account’s password. The scammer asked him to call a phone number, claiming it was an official phone line of T-Mobile.

However, the impersonator just used such an instance to elaborate on the scam. In fact, he received a new passcode to an old email address he used for a bitcoin wallet he held. Police believe that scammers also managed to hack the email account of the victim.

California Man Loses $27,000 in Bitcoin After Falling Prey to Crypto Scammers – Security Bitcoin News (https://news.bitcoin.com/california-man-loses-27000-in-bitcoin-after-falling-prey-to-crypto-scammers/)




Sioux Falls Police Department spokesman Sam Clemens said a 67-year-old woman struck up a friendship with someone on Facebook. After a few months, the suspect asked the woman to send Bitcoin.

67-year-old woman scammed out $7,000 worth of Bitcoin | KELOLAND.com (https://www.keloland.com/news/local-news/67-year-old-woman-scammed-out-7000-worth-of-bitcoin/)



According to Kaspersky researcher Mikhail Sytnik, scam artists are now entering Discord servers and are sending private messages to users that appear to be from new, up-and-coming cryptocurrency exchanges.

As new projects and ones that want to "support traders in difficult times," these 'exchanges' try to attract users with promises of free cryptocurrency. And, of course, the recipient is the lucky one chosen for free BTC or ETH.

ribshaw
02-12-2021, 02:17 PM
$400,000 easy peasy lemon squeezy!!!



According to Ark’s Big Ideas for 2021, if all S&P 500 companies were to allocate 1% of their cash to bitcoin, its price could increase by approximately $40,000. If those companies moved 10% of their cash to bitcoin, Ark sees the cryptocurrency climbing by $400,000. Ark's Cathie Wood explains how bitcoin could increase by $400,000 (https://finance.yahoo.com/news/ark-cathie-wood-bitcoin-400000-000053537.html)

Back to our normal dour programming! :RpS_wink:ther than dumping a long time spouse to date a stripper there's hardly anything more concerning to me than a ton of press for a hot money manager.




By any measure, Ark Invest is having a spectacular run. With tens of billions of dollars flowing into her thematic ETFs and returns that easily surpassed 100% last year, Cathie Wood has gone from being a relatively unknown investor to one of the world’s best known money managers. Cathie Wood: A typical day for Ark Invest's star stock picker (https://finance.yahoo.com/news/ark-invest-cathie-wood-typical-day-142448727.html)

After massive gains people plow money in.



Total assets under management are now at nearly $27 billion, up from $17 billion at the end of 2020. The ETF closed down 1.2% on Wednesday.

ARK Innovation has taken in the most new assets in 2021 among almost all ETFs, behind only the Vanguard S&P 500 ETF (VOO).
Red-Hot ARK ETFs Add $12.5 Billion in New Cash in 2021 | Barron's (https://www.barrons.com/articles/red-hot-ark-etfs-add-12-5-billion-in-new-cash-in-2021-51612995946?siteid=yhoof2)

TSLA is the top holding ARKK - Innovation ETF by ARK Invest (https://ark-funds.com/arkk#holdings). There's a bit of a tickle fight brewing with people who saw TSLA as an Alt-Energy play and their opposition to Bitcoin's use of energy. A few other smart Alecs have chortled TSLA made more on it's BTC purchase than during it's entire history as a public company.

None of the above constitutes a scam in my opinion, just an observation on how many people make investing decisions. Often it proves a hard lesson on easy cash.

This on the other hand circa 2018 No, ”Elon Musk” on Twitter Is Not Giving Away Any Cryptocurrency – Bitcoin News (https://news.bitcoin.com/elon-musk-on-twitter-is-not-giving-away-cryptocurrency/)

ribshaw
02-16-2021, 01:12 PM
Any % daily return offered prospectively is all you need to smell a rat.




MTI had taken in $589 million from more than 471,000 deposits.

MTI succeeded in luring unsuspecting victims by promising consistent daily returns of 0.5%.

Mirror Trading International Named Biggest Crypto Scam of the Year After Raking in $589 Million – Regulation Bitcoin News (https://news.bitcoin.com/mirror-trading-international-named-biggest-crypto-scam-of-the-year-after-raking-in-589-million/)


Every Ponzi works something like this...

You put in a little and the promoter pays you back with your own money. Some promoters initially might even reach into their pocket to really set the hook.

Oh I'm (or others on Facebook) getting paid, this must be legit.

You put in a lot and decide to compound your profits.

The promoter makes fake statements showing your "earnings" and initially promptly pays withdrawal requests.

You get your (former) friends and family involved.

Major promoters move to the next big thing.

Recruiting dries up.

Excuses like: moving to new servers, Know Your Customer requests, hackers, paralysis of all but one finger, Dengue Fever, growing pains, ETC.

Withdrawals are paused, fresh money still welcome.

ribshaw
02-16-2021, 01:25 PM
If you can't meet someone in person you're chatting with online don't send them money. You're no more in a relationship than you are in the graces of an oil contractor, soldier stationed overseas, Nigerian Barrister, or trading wizard.

Probably don't send money after you've met either, but not my place to nag.





One victim reported to BBB Scam Tracker that after talking to a woman on Tinder, she persuaded him to invest on a fake trading cryptocurrency platform. When he tried to withdraw his money, the funds were automatically reversed back into his account. The feature was allegedly a “system security” to help prevent money laundering. The victim was then told the account needed to have a minimum balance of $3,000 before he could withdraw funds. After trying several times, the victim was unable to recoup his money.

BBB scam alert: Swiping right on Tinder? Watch out for cryptocurrency scams | Business | marshallnewsmessenger.com (https://www.marshallnewsmessenger.com/business/bbb-scam-alert-swiping-right-on-tinder-watch-out-for-cryptocurrency-scams/article_da118766-6d67-11eb-bb65-97ea00c94fa4.html)



He persuaded Vivian to 'invest' a total of £100,000 trading cryptocurrencies

How looking for love robbed Vivian of PS100,000 | This is Money (https://www.thisismoney.co.uk/money/beatthescammers/article-9231463/How-looking-love-robbed-Vivian-100-000.html)


https://realscam.com/f44/sweetheart-scammer-did-really-hot-person-pick-me-above-all-others-2300/

ribshaw
02-17-2021, 02:49 PM
Whether this hack is "real" is immaterial if it's your money in flux.





Another hack rocks the decentralized finance (DeFi) space. This time CREAM Finance has allegedly lost about 13,000 ETH, valued at about $24 million, to hackers.

CREAM Finance Hack Causes Price To Tumble 30%! - Finance and Funding - Altcoin Buzz (https://www.altcoinbuzz.io/cryptocurrency-news/finance-and-funding/cream-finance-hack-causes-price-to-tumble-30/)

Position sizing and risk of ruin matter when speculative investing. While risk tolerance varies from person to person it needs to be a consideration for those that don't want to get knocked out of the game.

ribshaw
02-18-2021, 02:09 PM
Markets showed Zero Pity buying Kitty.

To sell naked options you need to sign a financial disclosure that says something to the effect of: I have a ton of assets, make a ton of money, have detailed knowledge of trading, and years of market experience.

Even more ironic is this cat was betting against Roaring Kitty's postings about GME going up.

and Zero Pity fading Kitty.





The plaintiff, utilized $200,000 in collateral to sell call option contracts for GameStop shares on January 26, when the stock was below $100, the suit says; shares more than doubled the next day, prompting Iovin to buy back his options at sky-high prices of $300 and $315 and therefore triggering "substantial" losses.

Roaring Kitty Accused Of Fraud In The Latest Wild Lawsuit Coming Out Of GameStop Saga (https://www.forbes.com/sites/jonathanponciano/2021/02/17/gamestop-saga-roaring-kitty-accused-of-fraud-in-the-latest-wild-lawsuit/?sh=2dd4d8c6624f)


I'm not sure how this author knows that many speculators aren't using under-collateralized money to buy BTC. To Wit 0% inconvertible notes: UPDATE 3-MicroStrategy to borrow $600 million to buy more bitcoin (https://finance.yahoo.com/news/1-microstrategy-borrow-600-million-140526021.html)

The author makes some interesting points and this article is worth a read...




Bitcoins aren’t purchased on a partially paid payment plan where investors put down 10% or 20% of issuing price with the rest payable in equal installments every three or four months – essentially transforming the stock into a levered derivative product. If anything, bitcoin is purchased with investor equity or with over-collateralized loans

No, Bitcoin Is Nothing Like the South Sea Bubble (https://finance.yahoo.com/news/no-bitcoin-nothing-south-sea-132519345.html)


Grumpy then, grumpy now.





12-19-2017

Unlike regulated markets I'd wager there are a lot of people levered up on credit cards and title loans in their quest for crypto riches. I've said this before, and way too early apparently but I hope people have a good sell strategy in place. Much like today's stock market there are people invested that have never experienced a bear market. Every dip in price has been an excellent buying opportunity and will remain so until it doesn't.

People always chase performance and a story, don't sully their minds with facts.

Beanie Babies had limited supply too.

https://realscam.com/f45/bitcoin-com-founder-sells-all-his-bitcoins-extremely-high-risk-5062/?highlight=limited+risk

ribshaw
02-19-2021, 12:42 PM
What could possibly go wrong?



The site promotes itself as a “networking company” that invests in sports betting, specifically soccer.
Allegedly based in Costa Rica, the platform offers investment packages that promise high yield returns of 20% monthly and 240% yearly.
Argentinean Prosecutor Investigates Alleged Bitcoin Scam Ganancias Deportivas – News Bitcoin News (https://news.bitcoin.com/argentinean-prosecutor-investigates-an-alleged-bitcoin-scam-ganancias-deportivas/)

Some people seek to have it both ways. They want the gubment off their back and do the heavy lifting when they get scammed.



Austria’s Financial Market Authority has revealed that more than 60% of all reported financial fraud in the country involve crypto trading products.

Austrian regulators call for stricter crypto regulations amid rising fraud (https://cointelegraph.com/news/austrian-regulators-call-for-stricter-crypto-regulations-amid-rising-fraud)

ribshaw
02-19-2021, 12:57 PM
Egads! Some of the comments to this tweet are (insert adjective here).




Replying to@elonmusk and @business

To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla.

However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.

Bitcoin is almost as bs as fiat money. The key word is “almost”.

7:11 PM · Feb 18, 2021

https://twitter.com/elonmusk/status/1362600676174557186

ribshaw
02-22-2021, 04:12 PM
I thought the Pong update for my Atari 2600 felt a little sketch.



“It appears that this malware is very sophisticated, in the sense in that it is impersonating a legitimate piece of software...which is a powerful concept,” says Yehuda Lindell CEO & Co-founder of Unbound Tech, which provides cryptographic infrastructure, including key management and protection.

While crypto asset holders may avoid clicking on an unfamiliar link, Lindell said, they might be more inclined to install an update that appears to come from a trading platform.

Crypto price surge invites torrent in crypto crime (https://finance.yahoo.com/news/crypto-price-surge-invites-torrent-in-crypto-crime-123656659.html)


FI warns consumers of risks connected to crypto-asset products | Finansinspektionen (https://www.fi.se/en/published/press-releases/2021/fi-warns-consumers-of-risks-connected-to-crypto-asset-products/)

Australian Man Arrested for Trying to Launder $4.3M With Bitcoin (https://finance.yahoo.com/news/australian-man-arrested-trying-launder-104034021.html)

ribshaw
02-23-2021, 12:59 PM
The irony of a fine for maybe/maybe not creating money out of thin air.





NY AG’s $850M Probe of Bitfinex, Tether Ends in an $18.5M Settlement (https://finance.yahoo.com/news/ny-ag-850m-probe-bitfinex-125251612.html)

As Donnie Iris once said:

You can't depend on your teacher
You can't depend on your preacher
You can't depend on politicians
You can't depend on superstitions

ShieldSquare Captcha (https://www.songfacts.com/lyrics/donnie-iris/love-is-like-a-rock)

ribshaw
02-24-2021, 12:27 PM
A similar argument is made between people that want to hold physical metal versus mining stock. One thing is for sure the price swings are much greater in the stocks. Weeeeeeeeeee!!!!



It is, without question, the worst way to try to make money off of the Bitcoin craze. I'm talking about buying cryptocurrency mining stocks

The Absolute Worst Way to Invest in Bitcoin | The Motley Fool (https://www.fool.com/investing/2021/02/24/the-absolute-worst-way-to-invest-in-bitcoin/)

ribshaw
02-24-2021, 12:39 PM
Straight up I think the kid next to me in the Cafe wrote this....




Q: bitcoin Scam victims exchange fall for different Ponzi Scheme

externalize the charge-back downside inherent with act currency – that is the matter wherever somebody sends an act to the exchange, reciprocally for bitcoin, then claims the cash was purloined or the dealing was. somehow illegitimate, and therefore the bank takes the cash backtrack the exchange deed the user having paid nothing for his or her bitcoins.

Electronic Ways To Recover Scammed Bitcoin IQ Options Investment Scam (https://bmmagazine.co.uk/business/electronic-ways-to-recover-scammed-bitcoin-iq-options-investment-scam/)

I can't know for sure but it looks like some version of an Advance Fee Recovery Scam found it's way into the site linked above.





An advance fee scheme occurs when the victim pays money to someone in anticipation of receiving something of greater value—such as a loan, contract, investment, or gift—and then receives little or nothing in return.

Advance Fee Schemes — FBI (https://www.fbi.gov/scams-and-safety/common-scams-and-crimes/advance-fee-schemes)



Seeing Through a Recovery Scam

Here are some tips to help you avoid losing money to a recovery scam:

Don't giver money or your bank or credit card account number to anyone who calls offering to recover money, merchandise, or prizes you never received if the caller says you have to pay a fee in advance. Under the Telemarketing Sales Rule, it's against the law for someone to request or receive payment from you until seven business days after you have the money or other item in hand.

Refund and Recovery Scams | FTC Consumer Information (https://www.consumer.ftc.gov/articles/0102-refund-and-recovery-scams)




The website's owner is hiding his identity on WHOIS using a paid service

This website has only been registered recently.

This website does not have many visitors
We found many low rated websites on the same server
We detected cryptocurrency services which can be high risk

We detected services around money recovery which are often scams

This site is actively preventing credit card chargebacks

efundsrecovery.com Reviews | scam, legit or safe check | Scamadviser (https://www.scamadviser.com/check-website/EfundsRecovery.com)

ribshaw
02-25-2021, 10:23 AM
Listed stock and option exchanges have a way to deal with trades like this that need to be broken. None to my knowledge involve locking people out of their accounts like a spurned lover changing the keys.




Rafael Padilla, an attorney representing the affected users who are currently locked out of their accounts, commented on the issue on Facebook. “Our client’s trade transaction was legitimate under applicable laws, decided cases, and of course according to PDAX’s very own terms and conditions/user agreement.” According to Padilla, PDAX has opted to lock users out of their accounts because it cannot unilaterally reverse the transactions.

“It’s very understandable that a lot of users will feel upset they were able to buy what they thought an order was there for Bitcoin at very low prices. But unfortunately, the underlying Bitcoins were never in the possession of the exchange, so there’s never really anything there to be bought or sold, unfortunately.”, said PDAX CEO Nichel Gaba in a press conference earlier today.

Crypto Exchange Asks Customers To Return Bitcoin After Selling It At 88% Discount (https://finance.yahoo.com/news/crypto-exchange-asks-customers-return-063545374.html)

ribshaw
02-25-2021, 11:10 AM
About a year ago a well known scammer flashed his BTC wallet address during a Youtube video. I saved the address thinking it might come in handy some day; yesterday was that day.

I wanted to see what our friends at Retrieve Scammed Bitcoin | Scam and Stolen Funds Recovery | Recover Lost Funds | (https://www.efundsrecovery.com/) had to offer what with me losing 42 BTC and all. Notably USI Tech collapsed probably two years ago. If someone in the recovery industry didn't already have knowledge; I would expect them to get some before agreeing to take my case. It wasn't even discussed. From the wallet above I sent them fairly recent transactions totaling around 42 BTC.

Wonder of all wonders they're willing to take my case; and looks like it will be all wrapped up in two weeks or less.





Hi, I lost 42 Bitcoin in a scam USI Technology. Can you tell me how I> might go about trying to recover them.
>
> Bless You
Jack



Hello Jack,
Ok, There a few issues to getting digital assets recovered. The process
is usually within 2 / 3 weeks but you must have access to a few
information before the recovery of digital cryptocurrencies can be
certified recoverable.
Do you still have access to the Bitcoin account you used to send the
funds out to USI Technology ?



Yes I do



Ok, That is an important part for the process. How many Bitcoin accounts
was used by you to pay them during the period of investment ? How long
ago was the very first transaction and last transaction respectively ?
How many phases were the payments made and how much were the payments
made ?
Do you have all generated hashtag numbers generated from each
transaction ?



Yes I do



Ok, Send the details on those transactions for analysis going forward.
If the information checks out complete we will commence on giving you
detailed action plan required for the recovery process while we put you
on a real time monitoring platform to follow up with the repossession
process.




Random transaction data from some scammers wallet



The information seems comprehensive enough. We will run an analysis on
all transactions and revert to you within the next 30 / 45 minutes after
which you will be updated on service terms and conditions going forward.




Hello Jack,
Attached herein is a copy of the action plan for your perusal. The
forensic analysis will soon be complete and we will discuss further
details on terms and conditions of service thereafter.

NOTE: The attached action plan is a comprehensive plan, in some cases,
the recovery may take faster than 2 weeks depending on the information
provided by the client. Yours might be probably be faster than what
obtains in the action plan because of the detailed information provided.
24600
24601
24602
24603
24604




This looks good to me. What do your costs are for this project?



Hello Jack,
Ok. The analysis from the forensic team has just been concluded and they have agreed to take on your recovery request. Once we confirm your initial payment to commence the process, the forensic team will start your btc repossession request according to the action plan and within 30 minutes upon initial deposit confirmation, a login username and password to our repossession monitoring platform will be forwarded to your email which will enable you login to our real time monitoring platform where you would have direct access to begin the recovery process carried out by the forensic team. We charge 20% payment of the total funds to be recovered, 10% charges to start the process and the other 10% would be required upon the completion of the repossession process.



Can I send it to you in BTC, and if so do you have a wallet address? Also if you aren't able to recover my funds is there a money back promise?




Hello Jack,
Yes we take BTC payments into the wallet address below;
16PJ6W3MgGbgQBGE7MDygCHFQFqfuuM9qb

There is a money back guarantee for the service if we are unable to recover funds, However, recovery is certain if the information you provided are accurate. Kindly send an email confirmation as soon as the BTC has been sent to the address provided above.

ribshaw
02-25-2021, 11:27 AM
The recovery claims above in the case of General Sani Abacha are simply amazing. It appears eFundsRecovery was able to get the Swiss Government to return twice as much as what Nigeria was owed. While no time frame was mentioned, probably less than two weeks.



He was never charged with corruption during his life and Nigeria has been fighting for years to recover the money.

The Swiss government in 2017 said it would return to Nigeria about $321 million in assets seized from Abacha’s family via a deal signed with the World Bank.
U.S., Jersey sign $300 million Abacha loot repatriation deal with Nigeria | Reuters (https://www.reuters.com/article/us-usa-nigeria/u-s-jersey-sign-300-million-abacha-loot-repatriation-deal-with-nigeria-idUSKBN1ZY1W0)

ribshaw
02-25-2021, 11:41 AM
So far the wallet they gave me is empty.

Address: 16PJ6W3MgGbgQBGE7MDygCHFQFqfuuM9qb | Blockchain Explorer (https://www.blockchain.com/btc/address/16PJ6W3MgGbgQBGE7MDygCHFQFqfuuM9qb)

If these folks were recovering Billion$ stolen by the worlds dictators what are the chances they have time for little old me?

ribshaw
02-26-2021, 12:00 PM
I was hoping to get the bank account of a money mule - Google Search (https://www.google.com/search?client=firefox-b-1-d&q=money+mule) with this next question. There are no legit jobs where people use your bank account/crypto wallet to receive and forward money anymore than having packages randomly shipped to your house.

Money Mules — FBI (https://www.fbi.gov/scams-and-safety/common-scams-and-crimes/money-mules)


With all due respect to my dear mother a company allegedly based in New York doesn't have a bank account.



to eFunds
I have talked this over with my mother and it's a go.

Due to the size of the transaction she thinks it best that I wire the funds into your bank account. Can you please provide me with wiring instructions so that we may get started.

Blessings on you.

Jack




Hello Jack,
With all due respect to your Mother. We have our structured way of doing things, considering the fact that we will have a 3 man team working on the forensic analysis and recovery, the payments to be made are not only going to the forensic team, the server would also be monitored by 2 technicians to ensure there is no interruption and overheating with adequate cooling system all through the process. There is no way the Bank Transfer would work for services like ours with the traditional bureaucratic processes which negates the swift arrangement for payment distribution to all the personnels involved. Traditionally, We have been a digital economy compliant firm and it is enshrined in our processes. kindly let us know if we can be of further assistance. I will have to hold the team back till we agree on a favorable payment option.

I called the number which was being forwarded and some kid answered the phone with the worst NY accent I've ever heard.



Bank Of America Tower. 1111 Avenue of the Americas, New York, NY 10036.
+18159230458
service@efundsrecovery.com

Probably just don't send your money offshore hoping to score big.





what is the best way to recover your money from a bad binary options broker?

People who have lost a lot of money trading binary options can recover their lost funds. The best choice for a victim of binary options fraud trying to get his money back is to hire a recovery company. It is estimated that a substantial percentage of binary options traders lose a lot or even all of their money.

Binary Options Fraud | CFTC (https://www.cftc.gov/BinaryOptionsFraud/index.htm)

Binary Options Fraud | Investor.gov (https://www.investor.gov/protect-your-investments/fraud/types-fraud/binary-options-fraud)


For the Lolz...




eFundsrecovery.com has helped In the past 21 years on debt recovery solutions more than US$1 billion of money, mostly from Switzerland, stolen by Ferdinand Marcos.
By 2007 eFundsrecovery.com helped to recover over US$174 million, from jurisdictions such as Switzerland, Cayman Islands and the United States, stolen by Vladimiro Montesinos.
To date, eFundsrecovery.com was the lead service provider in asset recovery of Over US$700 million of money stolen by Sani Abacha, by Swiss authorities and has been returned to Nigeria.
In the recent past, eFundsrecovery.com Private investment asset recovery of US$17.7 million of the illicit gains obtained by a fraudster in Nigeria was recovered and returned within a period of 3 months.

ribshaw
02-26-2021, 01:12 PM
Some people don't want Crypto to be mainstream or the government in their business.



Coinbase also cited anti-money laundering (AML) rules being imposed on crypto exchanges by the Financial Action Task Force, namely the so-called “travel rule” that is being skirted by certain firms in far-flung jurisdictions.

Coinbase Calls Out Binance as It Bemoans Compliance Burden (https://www.yahoo.com/finance/news/coinbase-calls-binance-bemoans-compliance-110524098.html)



Although it's hard to imagine when stuff like this happens governments won't be involved.




Federal authorities said that three North Korean computer programmers have been indicted for conducting a series of cyberattacks to steal and extort more than $1.3 billion in cash and cryptocurrency from financial institutions and companies.

North Korean hackers charged in cryptocurrency theft scheme (https://www.cnbc.com/2021/02/17/north-korean-hackers-charged-in-massive-cryptocurrency-theft-scheme.html)


From a scam perspective, if you send your money offshore to unlicensed actors you'd better expect to drown while you're swimming to recover it. Many firms don't accept US investors, wink wink. In these pages we've seen Ponzi Pimps telling people to use VPNs to skirt IP blocks. File that under a fool and his money.

laidback
02-26-2021, 03:08 PM
A lot of people in the crypto space use vpn's to be able to go to exchanges offshore because they can't get the products and services they need due to stifling US regulations. While those regulations are supposedly set up to protect US consumers, they also throttle many opportunities available to non-US speculators. (Face the fact that mucking around in the crypto space is speculation, as is a lot of stock/bond/future/commodity "investing")

ribshaw
03-01-2021, 11:08 AM
(Face the fact that mucking around in the crypto space is speculation, as is a lot of stock/bond/future/commodity "investing")

I found quotes in this story rather timely.




Nobody wants to be told that the best strategy is simply to save more and spend less.

The same pattern of purportedly low-risk strategies leading to a jolt heartbreak has often repeated over the years, especially among investors who should know better

Investors Piled Into This Magical Money Machine. Now They’re Stuck. - WSJ (https://www.wsj.com/articles/investors-piled-into-the-infinity-q-magical-money-machine-now-theyre-stuck-11614354037)

Investment Firm Halts Redemptions on $1.8 Billion Fund - WSJ (https://www.wsj.com/articles/investment-firm-halts-redemptions-on-1-8-billion-fund-11614090454)

ribshaw
03-01-2021, 11:17 AM
Much of this reminds me of offshore gambling and trading sites. Most people end up losing on their own so one way pockets seldom matter.




Only invest an amount you are willing to lose

Are Crypto Trading Brokers Scam? (https://bmmagazine.co.uk/business/are-crypto-trading-brokers-scam/)




Furucombo’s hack is another reminder for DeFi users to seriously consider contract security and not use money in new protocols that they can’t afford to lose.

DeFi Transaction Bundler Furucombo Hacked for $14 Million | Crypto Briefing (https://cryptobriefing.com/defi-tx-bundler-furucombo-hacked-14-million/)

ribshaw
03-01-2021, 11:20 AM
From there, the suspect posing as the landlord said that he would not need to meet them face to face. He also would not need any background information, nor would he have to engage in a credit check of any kind. All he would need was a $2,000 bitcoin payment. This would be enough to get them into the house quickly.

Bitcoin Scam Leads to a Family's False Relocation | Live Bitcoin News (https://www.livebitcoinnews.com/bitcoin-scam-leads-to-a-familys-false-relocation/)

Rental Scams: How to Spot Them & What To Do | Avail (https://www.avail.co/education/guides/a-tenants-guide-to-finding-an-apartment/how-to-spot-a-rental-scam)

Keys to avoiding home rental scams | FTC Consumer Information (https://www.consumer.ftc.gov/blog/2019/06/keys-avoiding-home-rental-scams)

ribshaw
03-02-2021, 12:31 PM
A lot of people in the crypto space use vpn's to be able to go to exchanges offshore because they can't get the products and services they need due to stifling US regulations. While those regulations are supposedly set up to protect US consumers, they also throttle many opportunities available to non-US speculators.

I'm wonder sometimes what it would look like if the SEC only served in an educational capacity rather than a regulatory one. It's safe to say that if an investment is mass marketed to US citizens is not registered it is being offered illegally; but just because it is registered doesn't mean it's hanky panky free. The SEC missed Madoff for better than a decade, and plenty of scammers claim the SEC would have shut them down if they were breaking the law. Even public accounting firms seldom do more than resign after a scam has become painfully apparent.

There's been a decades long push by the US Government to perpetuate moral hazard using tax dollars and unlimited debt to back stop losses. The S&L Crisis of the late 80s and the Housing Crisis of the 2000s come to mind. It's hard to conclude this coupled with ZIRP hasn't created endless scams and shady investments that the SEC is ill equipped to pursue.

It's easy enough to say if you send your money offshore you can expect to lose it, and we aint helping. Probably wouldn't cost the taxpayer more than a few million for the government to pay some contractor to post that on a website somewhere. Onshore it's a bit more nuanced, and I'm mixed other than to say the current model of light for owners and no sentences for promoters doesn't seem to make a dent.

ribshaw
03-02-2021, 12:43 PM
Democracy is the theory that the common people know what they want, and deserve to get it good and hard.

H. L. Mencken - Democracy is the theory that the common... (https://www.brainyquote.com/quotes/h_l_mencken_163179)




The draft plan had suggested new crypto investors should have a 1 million baht ($33,000) minimum annual income, a minimum age limit and proven trading experience. However, the proposal was heavily criticized for effectively barring investors with low or middle incomes and those wanting to get involved in trading, per the report.

Thai SEC Backtracks on Unpopular Proposal for New Crypto Investor Qualifications (https://www.yahoo.com/finance/news/thai-sec-backtracks-unpopular-proposal-095828759.html)

ribshaw
03-02-2021, 12:55 PM
This sounds like the kind of crap https://realscam.com/f11/simon-stepsys-3342/ peddles.




British Bitcoin Profits appears to run under multiple different names. Websites for British Bitcoin Winners and Bitcoin Revolution are identical to the British Bitcoin Profits website, with slightly adjusted logos.

British Bitcoin Profit isn't authorized to operate in the U.K.

In 2020, the FCA (Financial Conduct Authority) in the U.K. warned investors against using British Bitcoin Profit. The FCA stated that the company was providing financial services without authorization. "Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us," the FCA wrote. "This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation."

Investors who use unauthorized firms don't have access to compensation schemes designed to protect consumers. "If you use an unauthorised firm, you won’t have access to the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) so you’re unlikely to get your money back if things go wrong," the FCA explains.

Is British Bitcoin Profit a Scam? The Company Has Run Fake News Ads (https://marketrealist.com/p/is-british-bitcoin-profit-a-scam/)

ribshaw
03-02-2021, 01:07 PM
Such a pleasant and reassuring lad.



Could you please provide me ID of members on my team



Hi Jack,
This is a kind of confusion because the last conversation I could recall you needed the company's Bank details earlier and now you need members I.D ? I believe we have diligently walked you through the process as much as possible. When and if you decide to proceed kindly let us know, Otherwise I wish you all the best of luck.



Piss off scammer.



Highly disappointed in your remarks.



Your attitude might not lead to a speedy recovery of the funds. Are you aware that the longer it takes the more difficult it is to retrieve BTC ? Simply because the BTC might have been sent to several other addresses and the process takes a few more hectic issues.



Our company and it's mother company FIS eAccess (http://www.efunds.com) have unprecedented integrity in this line of work and we deliver as promised

Hackers shifting from exchanges to DeFi projects
Cryptocurrency theft on the rise (https://www.finextra.com/pressarticle/86413/cryptocurrency-theft-on-the-rise)

ribshaw
03-02-2021, 01:11 PM
Why bother working?



Cryptocurrency scammers have made at least $145,000 this week by promoting fake giveaways through hacked verified Twitter accounts

Twitter scammers earned over $145k this week in Bitcoin, Ethereum, Doge (https://www.bleepingcomputer.com/news/security/twitter-scammers-earned-over-145k-this-week-in-bitcoin-ethereum-doge/)

https://twitter.com/ripple/status/1332762751287091201?lang=en

ribshaw
03-03-2021, 12:33 PM
I'm not sure why this has to be a "greater challenge" for the government/taxpayer to undertake. People want a free market solution and should be allowed to create one. There is no reason private insurance couldn't cover the cost of crypto losses.
If people willingly wire crypto to Cameroon what do they suppose will happen?

A common trope is that Bitcoin is an alternative to the fiat currency printed by governments around the world. Bitcoin Is Trading at a 46% Premium on Luno Nigeria - CoinDesk (https://www.coindesk.com/bitcoin-is-trading-at-a-46-premium-on-luno-nigeria-after-central-bank-ban) Some percentage of crypto investors seem not want Uncle Sam's brand of help.



President Joe Biden’s pick to head the Securities and Exchange Commission (SEC), told Congress Tuesday that the “greater challenge” in bitcoin and cryptocurrencies is protecting investors.

“Some markets have been really rife with fraud and scams,” Gensler told the Senate Banking Committee in his nomination hearing.

24606

Biden’s SEC pick: Some crypto markets ‘rife with fraud and scams’ (https://finance.yahoo.com/news/gensler-cryptocurrencies-rife-with-fraud-and-scams-in-some-markets-195434133.html)

Personally I like the risk mitigation of trading on regulated exchanges, protection paying with a credit card, and having insurance against being hacked. Certainly they come with a price, but my only risk is that of making stupid purchases/investments of which there are many.





A separate report by the blockchain investigations firm Chainalysis revealed that cybercriminals concentrate their cryptocurrency money laundering activities on a few online services. The company revealed that 55 percent of money laundering activating involving cryptocurrencies was coursed through only 270 crypto addresses in 2020. Cybercriminals usually use online gambling platforms, high-risk (low-reputation) digital currency exchanges, financial services located in high-risk jurisdictions, and cryptocurrency mixing services for money laundering purposes.
More than two-thirds of crypto crimes in 2020 come from scams and frauds - TokenPost (https://tokenpost.com/More-than-two-thirds-of-crypto-crimes-in-2020-come-from-scams-and-frauds-7122)

ribshaw
03-03-2021, 12:40 PM
Greater Challenge = Impossible Boondoggle.



On March 1, a Bitcoin address sent 5 BTC to a verified scam address. The address, 1EMuskYdgB3BtwxpEP46txN5EAN8KnA7dE, is associated with a fake Elon Musk website, Tesla Promotion (https://elon2x.com/tesla.htm) that promises to return double any amount of Bitcoin it receives between 0.1 and 10 BTC.

While it’s unclear whether the sender is a victim of the scammer or in cahoots with them (e.g., the scammer transferring money between wallets), it’s a gentle reminder that the Tesla CEO isn’t here to make you rich.

Someone Sent $243K in Bitcoin to an '''Elon Musk''' Scam Wallet Address - Decrypt (https://decrypt.co/59998/someone-sent-243k-in-bitcoin-to-an-elon-musk-scam-wallet-address)




Transactions 19
Total Received 9.07427213 BTC
Total Sent 9.07427213 BTC
Final Balance 0.00000000 BTC

Address: 1EMuskYdgB3BtwxpEP46txN5EAN8KnA7dE | Blockchain Explorer (https://www.blockchain.com/btc/address/1EMuskYdgB3BtwxpEP46txN5EAN8KnA7dE)

ribshaw
03-04-2021, 12:35 PM
Much of this quote is taken from Ponzi Scheme | Investor.gov (https://www.investor.gov/protect-your-investments/fraud/types-fraud/ponzi-scheme). Unfortunately too many people wrongly assume that because they are being paid that the deal is legit. By the time difficultly receiving payments come to pass you've been had.




Scam firms are known to suddenly close consumers’ online accounts and refuse to transfer the funds to them or ask for more money to cover ‘fees’ or ‘taxes’ before the funds can be transferred.

Ponzi schemes continue to make up a high proportion of crypto asset scams. They are a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. There are several markers which can be used to identify a potential Ponzi scheme, including:

High returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any “guaranteed” investment opportunity.

Overly consistent returns. Investments tend to go up and down over time. Be sceptical about an investment that regularly generates positive returns regardless of overall market conditions.

Unregistered investments. Ponzi schemes typically involve financial services firms and individuals not authorised by the FCA (or respective regulator in the country in which they are based).

Secretive, complex strategies. Avoid investments if you don’t understand them or can’t get complete information about them.

Issues with paperwork. Account statement errors may be a sign that funds are not being invested as promised.

Difficulty receiving payments.

Another common scam is to present a new crypto asset as an alternative to Bitcoin. The idea is that it’s too late to cash in on Bitcoin and that you need to invest in one of these up-and-coming crypto assets.

Current trends in fraud: Crypto scams - Lexology (https://www.lexology.com/library/detail.aspx?g=0a3c21a9-9773-4fc0-95fe-7d49d118a748)

ribshaw
03-04-2021, 12:49 PM
I'm shocked.



Most of these scams are originating on the popular social media platform Instagram, where the scammers create a persona of luxurious life achieved from the wealth created with cryptocurrency investments. These profiles try to emulate profiles in the United States or Europe, but in reality, they were created in Nigeria.

Crypto Scams Are Going Rampant in Nigeria | Finance Magnates (https://www.financemagnates.com/cryptocurrency/news/crypto-scams-are-going-rampant-in-nigeria/)


The social media platforms are at a minimum morally complicit in allowing these scams to flourish. You can report posts violating TOS until your fingers bleed with no results, but let a scammer whine about someone using their image under "Fair Use" and all of these platforms piss on themselves like scared puppies to scrub those posts.




Instagram's role

Altogether these scams are raking in tens of thousands of dollars’ worth of crypto a month, Whitestream determined.

“The Instagram platform creates fake reality for young investors who are bored during the COVID-19 situation, and they are losing their savings because of these fake, imaginary accounts,” Levy told CoinDesk.
Read more: ‘Crypto Instagram’ Is Becoming a Thing, Scams and All

Whitestream CEO Itsik Levy argues that Instagram and its parent company, Facebook, have a duty to stop these scams. The accounts have already been flagged as scams – but there’s nowhere to turn to get them taken down.

Whitestream Identifies Multiple Crypto Scams in Nigeria - CoinDesk (https://www.coindesk.com/blockchain-sleuthing-firm-calls-nigeria-focal-point-for-africas-crypto-scams)

ribshaw
03-04-2021, 12:53 PM
Hard to Pin Down= Your $$$ has flown the coup.




What follows is a story in which Beaumont claims she invested “almost $40k” with Brown in 2019 for cryptocurrency trading,after meeting him several times at the Vegas poker tables.

However, a few months later, Brown became hard to pin down, and with her investment having fallen to $27k Beaumont tried to cash out, and that’s where the problems began.

Poker Pro Accused of $170,000 Bitcoin Scam - PokerTube (https://www.pokertube.com/article/poker-pro-accused-of-170-000-bitcoin-scam)

ribshaw
03-04-2021, 01:18 PM
Advertorials for advance fee scams offer such a quaint touch to losing twice.

101 Reviews How to Recover Lost Bitcoin [Scammed/Stolen Funds]: The Most Effective & Exclusive Lost Funds Recovery Agency. - (https://ventsmagazine.com/2021/03/04/101-reviews-how-to-recover-lost-bitcoin-scammed-stolen-funds-the-most-effective-exclusive-lost-funds-recovery-agency/)




All our services are available based on an a retainer model. When we onboard you as a new client, we charge an initial retainer, which is almost always sufficient for a successful resolution of the case.
In addition to a retainer, we charge a percentage contingency fee on funds recovered.
Our Services- Lost Money Recovery Services | Recover Money Lost to Binary Options (https://www.fundsrecoverysociete.com/our-services/)




Address

17 Cours Valmy, 92987 Puteaux, France.


We have fought against Binary Options and cryptocurrency giants in federal courts using orthodox and unorthodox solely to be able to help crypto, binary options and forex scam victims like you.

About Us- Fund Recovery Services | Find Lost Money | Lost Funds (https://www.fundsrecoverysociete.com/about-us/)




The website's owner is hiding his identity on WHOIS using a paid service

This website has only been registered recently.

This website does not have many visitors
We found many low rated websites on the same server
We detected cryptocurrency services which can be high risk

We detected services around money recovery which are often scams

https://www.scamadviser.com/check-website/www.fundsrecoverysociete.com


How to Avoid Being Scammed by Asset Recovery Companies (https://www.investopedia.com/articles/personal-finance/022916/dont-get-cheated-twice.asp)

ribshaw
03-05-2021, 12:50 PM
If I was going to trade Crypto it would be Polkadot, the name makes me giggle. Market orders in all but the most liquid vehicles...




A user, who held a large position, put a single stop market order in the market, which triggered this needle,” a Binance representative told CoinDesk in an email

Binance Pledges New Controls After 99% ‘Flash Crash’ in Polkadot Futures (https://www.yahoo.com/finance/news/binance-pledges-controls-99-flash-135330816.html)

ribshaw
03-05-2021, 02:02 PM
Random Musing Post

I most closely align myself with the Libertarian philosophy, although some of the extreme thinking I find a tad whimsical. The free market is the best system for allocation of investment capital, meting out justice maybe not so much.
Bitcoin (technology aside) is a throwback to a less efficient time as a means of exchange. Bank Runs effectively no longer exist, although the FDIC program is a mess. Stock Manipulation still occurs, but some practices like watering stock are virtually non-existent.

Anyhow, some interesting points in this article...

Bitcoin could prevent society from functioning and is an ‘extreme form of libertarian anarchism,’ warns this fund manager - MarketWatch (https://www.marketwatch.com/story/bitcoin-could-prevent-society-from-functioning-and-is-an-extreme-form-of-libertarian-anarchism-warns-this-fund-manager-11614937228?siteid=yhoof2)


Who could see this coming?



McAfee and Watson allegedly engaged in a scheme to exploit the "broad reach" of McAfee's Twitter account by buying cryptocurrency assets, concealing a plan to liquidate them and then selling most quickly after his endorsements boosted prices, the CFTC said in a court document filed on Friday. Antivirus software pioneer John McAfee indicted for cryptocurrency fraud - U.S. officials (https://www.yahoo.com/finance/news/u-says-john-mcafee-indicted-164633306.html)

Or this?



The 29-year-old founder of a defunct Florida cryptocurrency firm will spend eight years behind bars for duping investors out of more than $36 million with the help of celebrities including boxer Floyd Mayweather and music producer DJ Khaled, whom he paid to promote the business.Bloomberg - Are you a robot? (https://www.bloomberg.com/news/articles/2021-03-04/crypto-fraudster-sentenced-to-8-years-in-token-offering-scheme)

A reversed pension is your greeter job at Walmart?



"Pre Funded Reversed Pension Plan" (PFRPP)
$100 in crypto for a kilo of gold: Scammer pleads guilty to investor fraud | ZDNet (https://www.zdnet.com/article/100-in-crypto-for-a-kilo-of-gold-scammer-pleads-guilty-to-investor-fraud/)

Haven't heard this before.



According to the new indictment, Start Options claimed to provide cryptocurrency mining and digital-asset trading services, including trading in cryptocurrencies, commodities, stocks, and indexes.
Cryptocurrency Firm Founder Indicted in Alleged Multimillion Dollar Scam | Chief Investment Officer (https://www.ai-cio.com/news/cryptocurrency-firm-founder-indicted-alleged-multimillion-dollar-scam/)

All of the above are mostly consenting adults making poor choices.


Here not so much...




However, in the case of CSEM-(child sexual exploitation material)related crypto, Sanders is conducting his investigation on a pro bono basis, that is to say, not on anyone’s behalf.

In regards to this investigation, he’s publicly calling out Huobi, OKEx, both high-ranking exchanges, and a smaller outfit called MorphToken for being unresponsive and unhelpful when presented with evidence of CSEM flowing in from the dark web.
https://finance.yahoo.com/news/blockchain-sleuth-says-okex-huobi-195505482.html

A cogent argument can be made governments around the world have failed miserably to protect children. Has the free market proved any better, what would a free market solution look like? A free market solution might be for people to stop dealing with these exchanges, although with people like Jeffery Epstein it's hard to think a regulated Wall Street is any less complicit.

ribshaw
03-05-2021, 02:16 PM
I mean why not?




There are signs the hack was in fact an exit scam, according to reports.
DeFi Project Meerkat Raises Eyebrows With Claimed $31M Hack a Day After Launch - CoinDesk (https://www.coindesk.com/defi-project-meerkat-raises-eyebrows-with-claimed-31m-hack-a-day-after-launch)

ribshaw
03-08-2021, 01:06 PM
Conflicting information from the IRS, say it isn't so.




The IRS has sent conflicting messages to U.S. crypto holders several times in the past. Most recently, an updated FAQ page indicated that investors who simply bought “virtual currency with real currency” would not have to report that transaction on this year’s tax returns.

Still, cashing out crypto or making every-day purchases is typically seen as a taxable event. Operation Hidden Treasure is designed to find, trace, and attribute such transactions to taxpayers, Schenck said.

IRS Initiates ‘Operation Hidden Treasure’ to Root Out Unreported Crypto Income (https://www.yahoo.com/finance/news/irs-initiates-operation-hidden-treasure-202249994.html)



The IRS won’t call or email you

Keep in mind, the IRS will only notify a taxpayer of any issues via U.S. mail after Tax Day (April 17) and never by email or phone. If someone receives an email or call from someone claiming they owe more in taxes, that person is likely a scammer, but don’t hang up on them. You’ll want to try to find out if they have sensitive information about you, like your Social Security number.

In that case, the taxpayer should alert the IRS that he or she is a victim of identity theft. They should never follow through with instructions by phone or email to wire money to another bank account. This year, taxpayers should be extra vigilant because last year’s Equifax EFX, 2.77% security breach revealed sensitive information of more than 145 million U.S. adults, which could be used to file returns and siphon refunds.

What to do if the IRS makes a mistake - MarketWatch (https://www.marketwatch.com/story/what-to-do-if-the-irs-makes-a-mistake-2018-03-15)

ribshaw
03-08-2021, 01:15 PM
Somewhere in these two sites is a guy that lost his entire life savings. Unfortunately both seem more interested in explaining their cookie policy than educating the public.

Gardai warn of 120% increase in investment fraud scams during pandemic (https://www.irishexaminer.com/news/courtandcrime/arid-40239956.html)

Cork victim of €30k Bitcoin scam as Gardai issue warning on Lockdown fraud boom - Cork Beo (https://www.corkbeo.ie/news/local-news/cork-victim-30k-bitcoin-scam-19990178)






While several scams involve the use of Bitcoin, the following examples involve fraudsters making telephone calls and posing as agencies like Service Canada, Service Ontario, Canada Revenue Agency (CRA), and/or law enforcement agencies. In recent reports, fraudsters posed as the Canadian Immigration Office.

In several instances, victims reported that the fraudster requested they provide a local police Service number so they could share details of the investigation. Victims then reported that they received a call from what appeared to be the Waterloo Regional Police non-emergency phone number (519-570-9777). This is a form of spoofing- fraudsters will attempt to disguise a phone number from an unknown source as being from a known, trusted source, in efforts to make a financial gain.

Police issue warning about Bitcoin scams - KitchenerToday.com (https://www.kitchenertoday.com/police-beat/police-issue-warning-about-bitcoin-scams-3517622)

ribshaw
03-08-2021, 02:36 PM
I'll reiterate this isn't an investment site and my focus has always been to crap on people's dreams with a little wit for my enjoyment.

With that said if you are going to speculate; options(at a legitimate broker) can be a way to limit the risk of ruin. Especially if you're trading on borrow money. If nothing else options are slightly less dumb than trusting your life savings to someone telling you they're a genius trader/miner.

If someone was going to buy 1 BTC for $50,000 with BORROWED MONEY they could instead buy a single Call or Call spread matching their time frame for a fraction of the price. This would limit their risk and depending on structure of the trade their potential gain. If BTC went to 0 they would only lose the cost of the option. (!)If someone were to take $50,000 and load up on options consider the Vanuatu spread. This is a gigantic one way bet coupled with a ticket to Vanuatu. If you win stay and collect, if you lose go catch your flight.(!)

There are of course drawbacks to options, namely the cost of the premiums eat into any gains, the spreads to buy and sell can be very wide, and they expire on a set date.





The world’s largest crypto options platform, Deribit, settles crypto options contracts in cash, while the second-largest crypto options exchange, OKEx, physically delivers crypto assets to investors upon exiting a trade. For example, when a trader successfully exits a bitcoin option trade on OKEx, they receive their profits in bitcoin at settlement.

Crypto Options Trading, Explained (https://finance.yahoo.com/news/crypto-options-trading-explained-191830152.html)



Deribit appears to be taking extra caution with its upcoming mandatory verification plan, although the Panama-based exchange does not allow U.S. residents to trade on its platform.

"Over the years, we have been quite vigilant in blocking account openings by U.S. persons," Jansen told The Block. "We perform IP access checks on a regular basis, and, actually, we continue to do this as we speak."

Indeed, earlier today, some users highlighted that they received a notice from Deribit, saying that they could be located in the U.S., and thus aren't allowed to access the platform. "These users could be from the U.S., or at least from an IP known to us as a U.S. IP," said Jansen.Deribit to mandate ID verification for all traders before the end of the year (https://www.theblockcrypto.com/post/81874/deribit-crypto-derivatives-verification-2020)




does not offer its services to citizens of the United States.

Cryptocurrency Exchange | Buy Bitcoin | Bitcoin Exchange | Crypto Exchange | OKEx (https://www.okex.com/)


Back to your regularly scheduled scam warnings.

Broker Scams: The '3 Rs' To Follow Before Departing With Your Cash - Commodity.com (https://commodity.com/brokers/avoid-scams/)

Options and trading in general (along with gambling sites) set up the perfect scam. Most people will lose on their own and if they do win too much simply refuse to pay long enough to set up a new website.
Of course most speculators lose even in legitimate ventures because their timing is wrong and/or they lever up and are forced to sell at the worst possible time. Again, I'm in no way telling anyone what they should do with their money. Although one can surmise there are plenty of things they shouldn't be doing with it.

ribshaw
03-09-2021, 11:21 AM
How often have we heard the website and guy posing as a girl on Facebook said they were complaint?




The Seychelles regulator believes the entity is linked to cryptocurrency exchange Huobi Global and is operating in the country despite never being licensed to do so.

The International Business Company (IBC) Huobi Global Limited “appears to be affiliated” with the online trading platform of the same name, the Monday notice states.

The FSA is encouraging investors to exercise caution when dealing with the company.

Talking to CoinDesk, a Huobi representative said: “Huobi Global Limited is a Seychelles-registered company that is part of Huobi Group. It provides services to global customers in accordance with applicable laws.”

The person said the firm’s legal team is drafting a detailed response to the FSA’s notice.

Huobi Global’s legal statement on its exchange platform, last updated two years ago, makes multiple references to the laws and regulations of the Republic of Seychelles.

Seychelles Regulator Issues Investor Alert Over Crypto Exchange Huobi Global (https://finance.yahoo.com/news/seychelles-regulator-issues-investor-alert-133638624.html)


Internet fraud and scams on the rise - Seychelles Nation (http://www.nation.sc//articles/3379/internet-fraud-and-scams-on-the-rise)

Sun and Shadows: How an Island Paradise Became a Haven for Dirty Money - ICIJ (https://www.icij.org/investigations/offshore/sun-and-shadows-how-island-paradise-became-haven-dirty-money/)

ribshaw
03-09-2021, 11:26 AM
5. Yield Farming Incentives

Yield farming is a decentralized finance innovation that makes it possible to earn returns from staking cryptocurrencies. Yield farming software built on top of the Ethereum blockchain automates lending processes, allowing for people to earn interest from providing liquidity. Some yield farming projects also use Bitcoin.

There are many legitimate yield farming projects made by top developers in the decentralized finance ecosystem but there are also many crypto scammers who may simply copy the code of existing projects and add their malicious code in order to steal funds. Other scammers have gone as far as to pretend to be legitimate for long periods of time before pulling the rug from investors and fleeing with all the funds.

6 Crypto Scams You Need to Know Before Buying Bitcoin (https://www.makeuseof.com/crypto-scams/)

You Can Earn 6%, 8%, Even 12% on a Bitcoin ‘Savings Account’—Yeah, Right - WSJ (https://www.wsj.com/articles/you-can-earn-6-8-even-12-percent-on-a-bitcoin-savings-account-yeah-right-11614959768)

ribshaw
03-09-2021, 11:49 AM
I guess it's useful to some to watch a hack unfold, I'm not sure where most would go with it from there.




Decentralized Exchange DODO Hacked for $2.1 Million | Crypto Briefing (https://cryptobriefing.com/decentralized-exchange-dodo-hacked-for-2-1-million/)

The hack is available for all to see on Etherscan.
Ethereum Transaction Hash (Txhash) Details | Etherscan (https://etherscan.io/tx/0x395675b56370a9f5fe8b32badfa80043f5291443bd6c8273 900476880fb5221e)

ribshaw
03-10-2021, 12:20 PM
When I had more energy for this nonsense I would join Facebook groups for the scam du jour. It was very typical to be offered other opportunities and to a lesser extent recovery assistance.

Beware scam sites offering fake refunds for Mirror Trading International clients, says lawyer | Fin24 (https://www.news24.com/fin24/companies/ict/beware-scam-sites-offering-fake-refunds-for-mirror-trading-international-clients-says-lawyer-20210310)

ribshaw
03-10-2021, 12:31 PM
I should hope so. We got hacked for something created to compensate we'll create IOUs?



The market has reacted negatively to this announcement. Furucombo’s native COMBO token price is trading at $2.39, down 18.7% in the past 24 hours.
Furucombo Will Issue IOU Tokens to Compensate Hack Victims | Crypto Briefing (https://cryptobriefing.com/furucombo-will-issue-iou-tokens-compensate-hack-victims/)

Sounds like a big Rug pull.

What's a ‘Rug Pull’? Here's Kenny Schachter's Handy Glossary of NFT Terms for Newbie Crypto-Art Converts | Artnet News (https://news.artnet.com/market/whats-a-rug-pull-kenny-schachters-handy-glossary-of-nft-terms-for-newbie-crypto-art-converts-1950502)


In security news.

Supposedly unhackable RTX 3060 allegedly hacked to improve crypto mining | Windows Central (https://www.windowscentral.com/it-appears-someone-hacked-supposedly-unhackable-rtx-3060-hash-rate-limiter)

ribshaw
03-10-2021, 12:37 PM
Shocking...




The indictments relate to two schemes allegedly orchestrated by McAfee and Watson. The first involved McAfee using Twitter to promote multiple ICOs while publicly claiming that he was impartial: in reality, he was paid over US$23 million worth of digital assets for his endorsements. The second was the pump-and-dump scheme, where the two would buy digital assets right before promoting them to McAfee’s one million plus followers and then selling the assets once the endorsements led to a price increase. The indictments also accuse McAfee of laundering the proceeds of this scheme via an unnamed exchange operating in the Southern District of New York.

The allegations were already somewhat of an open issue after the Securities and Exchange Commission (SEC) brought civil charges against McAfee and Watson in 2020 in relation to the same two schemes.

McAfee is also already under arrest in Spain awaiting extradition to the U.S. on tax evasion charges, having allegedly not filed any tax returns for four years despite earning millions from speaking engagements, international consulting work, to name only a few. On this charge, one can assume that prosecutors are confident in the veracity of their evidence:

Crypto Crime Cartel: John McAfee, Arthur Hayes arrested and more Mt Gox deflection - CoinGeek (https://coingeek.com/crypto-crime-cartel-john-mcafee-arthur-hayes-arrested-and-more-mt-gox-deflection/)

ribshaw
03-10-2021, 12:41 PM
It's about time.



In a complaint filed with the US district court in Norther California in April last year, Ripple said the scam had caused "irreparable harm" to its public image, brand, and reputation as a "direct consequence of YouTube’s deliberate and inexplicable failure to address a pervasive and injurious fraud occurring on its platform".

Ripple settles with Youtube over XRP scam suit (https://www.finextra.com/newsarticle/37648/ripple-settles-with-youtube-over-xrp-scam-suit)

All the major platforms let people pump illegal crap with abandon and reporting functions are a joke.

ribshaw
03-11-2021, 12:03 PM
Cryptocurrency scam warning issued as investors expect Bitcoin to hit $60k this month | Personal Finance | Finance | Express.co.uk (https://www.express.co.uk/finance/personalfinance/1408043/cryptocurrency-scam-warning-investors-bitcoin)



It’s not just an Apple problem. CoinDesk also identified multiple fake wallet apps that were stealing users’ data and keys in the Google Play store.
Crypto Wallet Scams Are on the Rise in Google, Apple App Stores (https://www.coindesk.com/crypto-scam-apps-in-app-stores)

ribshaw
03-11-2021, 12:20 PM
Bash one opportunity or 10 as scams only to steer people into other opportunities claiming they are the real deal?

Hard hitting puffery...





Is Crypterium legit? Yes! It is legit because this website is working fairly with people, and there are no negative reviews or any complaints registered for this website. It is a highly recommended website.
Top 10 Bitcoin Scams To Avoid In 2021 And How To Spot Them - (https://ventsmagazine.com/2021/03/11/top-10-bitcoin-scams-to-avoid-in-2021-and-how-to-spot-them/)

RJ also claims Imarkets Live IM Mastery Academy is legit. Why not if a working website is one of your top criteria.

https://realscam.com/f8/imarketslive-banners-broker-redux-2880/?highlight=imarkets+live

iMarketsLive "scammers" warning issued by FCA (https://behindmlm.com/companies/imarketslive/imarketslive-scammers-warning-issued-by-fca/)

iMarketsLive investment warning issued in Colombia (https://behindmlm.com/companies/imarketslive-investment-warning-issued-in-colombia/)

The Autorite des marches financiers (AMF) warns the public against the company International Markets Live LTD (IMarketsLive) | AMF (https://www.amf-france.org/en/news-publications/news-releases/amf-news-releases/autorite-des-marches-financiers-amf-warns-public-against-company-international-markets-live-ltd)




UPDATES

9/25/20: The Direct Selling Self-Regulatory Council (DSSRC) has issued a case decision based on a TINA.org complaint finding that iMarketsLive and its distributors were making inappropriate income claims to promote the company’s business opportunity. The DSSRC recommended that the company “engage in effective training and monitoring of its IBOs (distributors) and use appropriate enforcement procedures to provide reasonable assurance that earnings claims made by its IBOs are substantiated, contain appropriate disclosures and are not misleading.”

1/10/20: iMarketsLive has a new website and a new name: IM Mastery Academy

https://www.truthinadvertising.org/what-you-should-know-about-imarketslive/

ribshaw
03-11-2021, 12:52 PM
It's your money people.

I find claims of 21% annually on a perspective basis ludicrous. As I do claims of insurance without mentioning a carrier. As I do people operating financial websites hiding their identity and operating from high risk countries.



deposit crpt & earn up to 21% annually

100% insured
Store your digital assets in a fully insured Crypterium account.

The Crypto Wallet with Unlimited Features | Home Page | Crypterium (https://crypterium.com/)




Negative highlights

The identity of the owner of the website is hidden on WHOIS
The website is located in a high risk country.

crypterium.com Reviews | check if site is scam or legit| Scamadviser (https://www.scamadviser.com/check-website/crypterium.com)

To RJ's point of "no complaints" I found one on Twitter. Probably just a jelly hater.




Exposing SCAMs
@FightingFrauds
·
Mar 7
@crypterium
claims they have partnered with @jumio
for KYC however this has never been confirmed by Jumio and their KYC takes weeks. They sold user database to at least three companies and there is a high probability they trade users indentity.

Exposing SCAMs
@FightingFrauds
·
Mar 7
@crypterium
has now a 3 years history of proven lies, they run fraudulent ponzi scheme, constanly block users accounts not allowing them to acces funds and they are also trying to steal money from in-app linked payment cards.

Exposing SCAMs
@FightingFrauds
·
Mar 7
@crypterium
intentionally lied during their ICO about "cryptobank" and services they are going to deliver. All of these were nothing but lies, they never planned to deliver any cryptobank and they run ICO solely for stealing money.

https://twitter.com/fightingfrauds?lang=en

The coin was floated in 2018 and hit $3 Crypterium price today, CRPT live marketcap, chart, and info | CoinMarketCap (https://coinmarketcap.com/currencies/crpt/) now it's trading at $.30 There should be a full independently audited accounting of where the funds from the IPO went available to investors.


Reviews for all manner of schemes are initially positive because people are being paid and/or seeing their accounts grow virtually. It stands to reason if you raise $50M in an ICO and the coin is now worth $25M that you could feed the fish with their own money for quite a while. Once problems occur getting actual cash the one star reviews flow like wine. Personally I have no idea if this is a scheme, but red flags are waving.

ribshaw
03-12-2021, 12:05 PM
It never ceases to amaze how many threatening to sue don't know the meaning of slander.

NRGY Review: DeFi + MLM = same old Ponzi schemes (https://behindmlm.com/mlm-reviews/nrgy-review-defi-mlm-same-old-ponzi-schemes/#more-62400)

ribshaw
03-12-2021, 12:29 PM
Financial Adviser is a generic term as opposed to CPA, CFP, PFS. and RIA that actually require qualification and testing. The regulatory system is a hodge podge of state and federal reporting of transgressions and lack there of so multiple checks are needed before entrusting your money to someone.

Back of the envelope a financial professional will make 1% of assets under management per year. If someone has $7M under management they're making $70,000 per year, enough for a modest house, car, and small wedding.

Consistent gains of 50% per month have never happened in the history of the world, so there's always that.




According to a document filed March 5, since October 2017 defendant Shawn Cutting represented himself as an experienced financial adviser to raise funds from over 450 investors.

Having no such experience, in fact, Cutting used the $6.9 million to purchase cars, improve his home and pay for his daughter’s wedding.

He also paid hundreds of thousands of dollars in “Ponzi-like payments” while communicating false updates to investors, often describing gains of over 50% in a single month.

SEC Brings Enforcement Action Against Alleged $6.9M Ponzi Scheme (https://finance.yahoo.com/news/sec-brings-enforcement-action-against-171632875.html)

A Guide to Financial Designations (https://www.investopedia.com/articles/financialcareers/07/different_designations.asp)

Becoming A Registered Investment Advisor (https://www.investopedia.com/articles/professionals/041013/becoming-registered-investment-advisor.asp)

Personal Financial Specialist (PFS) Definition (https://www.investopedia.com/terms/p/personal-financial-specialist-pfs.asp)

ribshaw
03-12-2021, 12:44 PM
The debate rages on...

Is Bitcoin a Ponzi scheme? Pick your side in the latest Cointelegraph Crypto Duel! (https://cointelegraph.com/news/is-bitcoin-a-ponzi-scheme-pick-your-side-in-the-latest-cointelegraph-crypto-duel)

Is Bitcoin really a 'Ponzi scheme'? Lyn Alden explains true value | Kitco News (https://www.kitco.com/news/2021-02-16/Is-Bitcoin-really-a-Ponzi-scheme-Lyn-Alden-explains-true-value.html)

Bitcoin ponzi generates ponzi research - MacroBusiness (https://www.macrobusiness.com.au/2021/03/bitcoin-ponzi-generates-ponzi-research/)

ribshaw
03-15-2021, 12:41 PM
It's bad enough when journalists give targeted investing advice, much less people paying to play journalist.

If an article is titled Scam or Legit, who exactly are they targeting?

How does this person know Bitcoin is going to keep going up and if it is going to keep going up why would anyone need to know anything beyond buying and holding?




Bitcoin Breakthrough 2021 Reviews: Scam or Legit Strategies?

Investing in Bitcoin now is a very good idea seeing how much the price of a Bitcoin has risen, and it will continue to do the same. But in order to understand how the greatest returns from Bitcoin investments can be made, one has to know more about Bitcoin and Bitcoin investment strategies, which is exactly what the Bitcoin Breakthrough 2021 program is teaching.


Bitcoin Breakthrough 2021 Reviews: Scam or Legit Strategies? | Bainbridge Island Review (https://www.bainbridgereview.com/marketplace/bitcoin-breakthrough-2021-reviews-scam-or-legit-strategies/)


A program for people bad at the maths?

23 monthly installments of $10 ($230) or 12 monthly installments of $20.99 ($251.88).

Always know your audience.

ribshaw
03-15-2021, 12:53 PM
If you're going to speculate maybe don't try to be too cute, too greedy, or too gullible.




Bitcoin Revolution is an automated trading system that claims to use sophisticated trading algorithms to generate extraordinary gains. These supposed algorithms and trading bots are, according to the website, capable of beating out the most sophisticated hedge funds on the market. Bitcoin Revolution also says that, with only a $250 minimum investment upfront

Bitcoin Revolution Scam—Stay Away From This Investment Scheme (https://marketrealist.com/p/bitcoin-revolution-scam/)


Things generally don’t turn out well when a social media ad from a company you’ve never heard of invites you to “make money fast.”
’Double your money’ Bitcoin scams are appearing as social media ads | The Star (https://www.thestar.com.my/tech/tech-news/2021/03/13/double-your-money-bitcoin-scams-are-appearing-as-social-media-ads)


The technique includes the breakup of URLs in a way that the Twitter‘s advertisement fraud detection algorithms cannot distinguish them.
Bad actors are leveraging social media ads to promote cryptocurrency scams and giveaways / Digital Information World (https://www.digitalinformationworld.com/2021/03/bad-actors-are-leveraging-social-media.html)

ribshaw
03-15-2021, 01:02 PM
It's never nice when you lose twice.

4 Guaranteed Ways to Recover Scammed Bitcoin Stolen Cryptocurrency Funds Lost to Binary Options Forex (https://bmmagazine.co.uk/business/4-guaranteed-ways-to-recover-scammed-bitcoin-stolen-cryptocurrency-funds-lost-to-binary-options-forex/)




The identity of the owner of the website is hidden on WHOIS

The age of this site is (very) young

The Alexa rank (how much traffic) is rather low

This website has a lot of reviews while being very young

brokercomplaintalert.com Reviews | scam or legit check (https://www.scamadviser.com/check-website/brokercomplaintalert.com)




Negative highlights
The contact email address used is free
The technical contact email address used is free
The contact email for the administrator is free

This website does not have many visitors
We detected cryptocurrency services which can be high risk

Anonymous payment methods were identified on this site

https://www.scamadviser.com/check-website/atriumforensics.com

ribshaw
03-15-2021, 01:39 PM
Both are interesting articles.

I question the immunity to inflation trope often trotted out about Bitcoin only to say that remains to be seen. Free money perverts supply/demand for assets and many people chase what's going up simply because it's going up. Except where they can substitute. The steaks I had normally been buying 4 for $50 were suddenly 4 for $70 last week, or as I told Mrs. Ribshaw enjoy your chicken.





No wonder investors are running to it. It's not only a store-of-value asset with immunity to inflation - the current volatility is producing high returns for those who are more risk-tolerant.

The report makes a note that despite incredible excitement and investment in the space, half of the investors we surveyed still believe Bitcoin is a Ponzi scheme.

Access Denied (https://www.nasdaq.com/articles/why-accredited-investors-are-coming-for-crypto-2021-03-15)



So, my question today is, is a new high for BTC signaling a turn in Fed posture even though gold is not? Or, is BTC ignoring all market signals and simply inflating because it can, as the first-ever global ponzi scheme might?
Bitcoin signalling dovish Fed turn or noisy ponzi blow-off? - MacroBusiness (https://www.macrobusiness.com.au/2021/03/bitcoin-signalling-dovish-fed-turn-or-noisy-ponzi-blow-off/)

ribshaw
03-15-2021, 01:49 PM
From a scam standpoint I find the crypto space fascinating, if for no other reason than the names alone.



According to MyCrypto.com, the malicious entity that executed the Roll hack is now sending hundreds of ether (ETH, -4.96%) to Tornado Cash, an Ethereum-based privacy tool used by hackers to cover tracks and withdrawn funds.
Social Tokens Crash After Reported Hack at Roll - CoinDesk (https://www.coindesk.com/social-tokens-crash-after-a-reported-hack-at-tryroll-wallet)

"A number of DeFi projects are under DNS hijack attack. Pancake, Cream, etc. Please be VERY VERY careful and not use them until they recover the situation," Binance CEO Changpeng Zhao warned.
Another DeFi Hack: PancakeSwap, Cream Finance Websites Compromised (https://cryptonews.com/news/another-defi-hack-pancakeswap-cream-finance-websites-comprom-9548.htm)

ribshaw
03-16-2021, 11:12 AM
Gadzooks!

Man lost $560,000 worth of bitcoin in '''Elon Musk''' scam: BBC (https://www.businessinsider.com/man-lost-560000-worth-of-bitcoin-elon-musk-scam-bbc-2021-3)

ribshaw
03-16-2021, 11:18 AM
This makes buying a cup of coffee nonsensical.

5 Legal Considerations When Dealing in NFTs (https://finance.yahoo.com/news/5-legal-considerations-dealing-nfts-202719889.html)


Pulled from the article above. Scam promoters often use wordplay to claim why something isn't a security and doesn't have to be registered.




The "Howey Test" is a test created by the Supreme Court for determining whether certain transactions qualify as "investment contracts." If so, then under the Securities Act of 1933 and the Securities Exchange Act of 1934, those transactions are considered securities and therefore subject to certain disclosure and registration requirements.

It is an investment of money
There is an expectation of profits from the investment
The investment of money is in a common enterprise
Any profit comes from the efforts of a promoter or third party


What Is the Howey Test? - FindLaw (https://www.findlaw.com/consumer/securities-law/what-is-the-howey-test.html)

ribshaw
03-17-2021, 11:08 AM
Why a 17 year old with seemingly mad computer skills would have chosen this path or haircut is beyond me.

Tampa Twitter hacker agrees to three years in prison (https://www.tampabay.com/news/crime/2021/03/16/tampa-twitter-hacker-agrees-to-three-years-in-prison-in-plea-deal/)

ribshaw
03-18-2021, 12:46 PM
Discrepancies??? Seriously??? Half a century balancing a checkbook and the only discrepancies I've ever found have been transposition errors on my part.

iCE3 Exchange Halts Bitcoin, Litecoin Withdrawals After ‘Discrepancies’ Found (https://finance.yahoo.com/news/ice3-exchange-halts-bitcoin-litecoin-130923305.html)

Just another sourpuss.

BofA Slams Bitcoin: 'Impractical As A Store Of Wealth Or Payments Mechanism' (https://finance.yahoo.com/news/bofa-slams-bitcoin-impractical-store-151515649.html)

It's hard to say what if anything this means. One conclusion I have drawn from all this is if I held a significant amount of crypto I would spread it among about 20 wallets. Discrepancies FFS!!!

Bitcoin’s ‘Rich List’ Shrinks Amid Continued Price Rally (https://finance.yahoo.com/news/bitcoin-rich-list-shrinks-amid-143908559.html)

More sourpusses.

Investopedia Survey Suggests Investor Concerns of Bitcoin Bubble, Says Editor-in-Chief (https://finance.yahoo.com/news/investopedia-survey-suggests-investor-concerns-103807772.html)

A volatility index of 100 implies the market thinks BTC can double or go to zero, should be a wild year.

Bitcoin Volatility Index ‘BitVol’ Makes First Trade (https://finance.yahoo.com/news/bitcoin-volatility-index-bitvol-makes-170830397.html)

Wall Street articles convenient timing or coincidence, you decide.

Morgan Stanley Sees Cryptocurrencies on Path to Investable Asset Class
https://finance.yahoo.com/news/morgan-stanley-sees-cryptocurrencies-path-164014093.html

Morgan Stanley to Offer Clients Exposure to Bitcoin Funds:
https://finance.yahoo.com/news/morgan-stanley-offer-clients-exposure-151636040.html

ribshaw
03-19-2021, 10:58 AM
Can anyone in the government do the maths anymore?




In this week’s auction, the winning bidder got the bitcoin for $53,104.

According to CoinDesk’s Bitcoin Price Index, the cryptocurrency never fell below $54,200 on Wednesday, and it has since jumped to about $59,000.

:shocked:The government told the newspaper the auction commanded a premium relative to the market price:shocked:.

The US Government Sold Some Bitcoin – And the Winning Bidder Got a Bargain (https://www.yahoo.com/finance/news/us-government-sold-bitcoin-winning-200924933.html)

ribshaw
03-19-2021, 11:09 AM
I had not thought about Check kiting - Wikipedia (https://en.wikipedia.org/wiki/Check_kiting) in years.




However, he added, the process Filecoin developers gave to exchanges to verify deposits includes a critical flaw that allows users to deposit the same coins repeatedly.

$4.6M in Filecoin ‘Double Deposited’ on Binance; Exploit Open on Other Exchanges (https://finance.yahoo.com/news/4-6m-filecoin-double-deposited-192305213.html)

ribshaw
03-21-2021, 01:25 PM
There are of course plenty of crap investments promoted by licensed individuals. That said, if unlicensed Uncle Fred is trying to get you into an investment he heard about on Facebook pass on it just like his cat hair laced mashed taters.



According to the complaint, Reynolds, the director of defunct trading firm Control-Finance Ltd., convinced over 1,000 clients (at least 169 of them US residents) to cumulatively deposit 22,858 Bitcoins between May and October 2017. At the time, those tokens were worth $143 million (hence the $143 million in restitution) but are now worth closer to $1.3 billion.

Customers transferred Bitcoin to Control-Finance, believing that its “experts” would trade it. In addition to profits, they were also promised rewards for referring other clients.

Bitcoin Fraudster Ordered to Pay $572 Million for Ponzi Scheme - Decrypt (https://decrypt.co/62073/bitcoin-fraudster-ordered-pay-572-million-ponzi-scheme)

Reynolds has not been in touch with US authorities, who even resorted to placing ads in a British newspaper in 2019 asking him to appear. His current whereabouts is unclear.




At Bail Hearing In Bitcoin Fraud Case, Prosecutors Say N.H. Libertarian Activist Poses Flight Risk | New Hampshire Public Radio (https://www.nhpr.org/post/bail-hearing-bitcoin-fraud-case-prosecutors-say-nh-libertarian-activist-poses-flight-risk#stream/0)

ribshaw
03-21-2021, 01:32 PM
Bitcoin ATMs for can't miss deals and romance = #You'vebeenwarned.




More specifically, they have called Bitcoin ATMs “an ideal money-laundering vehicle” that take advantage of the anonymity related to digital currencies.

In a new twist on online investment fraud, NASAA was concerned that scammers have immediate access to potential victims through their online profiles, which may contain sensitive personal information. As such, con artists can easily lure people and promote fraudulent investment products using a highly targeted pitch.

“Predators will often exploit two powerful human emotions – greed and love. Victims are typically lured in with the idea that they will be a part of an opportunity to make money or in other cases, they will be doing a friend or romantic interest a favour,” she added.

Vancouver Residents Lost $2 Million to Crypto Scams in One Week (https://www.financemagnates.com/cryptocurrency/news/vancouver-residents-lost-2-million-to-crypto-scams-in-one-week/)


Atlanta-Based Bitcoin ATM Provider Launches Over 100 New Machines Across 24 States in the US – News Bitcoin News (https://news.bitcoin.com/atlanta-based-bitcoin-atm-provider-launches-over-100-new-machines-across-24-states-in-the-us/)

ribshaw
03-22-2021, 10:37 AM
Way to use a Stimmy...

NYC man sells fart for $85, cashing in on NFT craze (https://nypost.com/2021/03/18/nyc-man-sells-fart-for-85-cashing-in-on-nft-craze/)

Then again I reckon at least the fart gives someone something to laugh about.




But at present, the project doesn't let you withdraw the funds you put into it.
BitClout Has Reaped $160M for Tokens Pegged to Celebs. Is It All a Scam? - Decrypt (https://decrypt.co/62162/bitclout-reaped-160m-tokens-pegged-celebs-followed-money)

ribshaw
03-22-2021, 10:43 AM
South Australia Police advise to community to:

* Be wary of advertisements found on social media sites offering investment opportunities. Scammers use these platforms to lure potential victims and direct them to fraudulent websites.

* Never allow anyone access to your device to assist with creating accounts. Remote access apps give scammers full access to your phone, your identity, and your newly created cryptocurrency account.

* Do not send copies of identification such as your Driver’s Licence, Passport or Medicare Card to people or businesses that you are unfamiliar with.

* If you have an existing account, protect it by using a unique password, implementing two-factor authentication and keeping Recovery Seeds secure and off your device.

For further information on scams affecting South Australians, please visit SAPOL -
Scams and cybercrime (http://www.police.sa.gov.au/scams)



Cryptocurrency scam - don't become a victim, South Australia | Mirage News (https://www.miragenews.com/cryptocurrency-scam-dont-become-a-victim-south-531824/)

ribshaw
03-22-2021, 10:56 AM
onecoin.eu ponzi scam (https://www.realscam.com/f9/onecoin-eu-ponzi-scam-3368/) was correctly identified for what it was with the very first post in 2014. The stories may change a little, but the structure by design always has to be the same.




Of the 136 projects we found, criminal charges have been filed against the only 71 of the teams. Additionally, only 15 projects have had members of their team convicted and sentenced for fraud, money laundering, or other investment scheme charges. The rest of the crypto projects on our list have had no recourse taken against them.

Avoiding Crypto Investment Scams: The Most Definitive Guide | Hacker Noon (https://hackernoon.com/avoiding-crypto-investment-scams-the-most-definitive-guide-mkt339u)

ribshaw
03-22-2021, 11:01 AM
Bitforex you can decide.

BitForex Review - Is BitForex Scam or Legit? (https://tokenhell.com/bitforex/)

Bitforex is Scam! (https://bitcointalk.org/index.php?topic=5238266.0)

ribshaw
03-22-2021, 11:05 AM
Risk of 100% losses with 100% certainty of zero recovery!



According to BaFin, retail investors need to be aware of the risks of incurring 100% losses from their crypto investments.

Crypto custody providers, exchanges and other businesses can only operate in Germany under license from BaFin.

Germany's financial regulator issues retail crypto investment warning By Cointelegraph (https://www.investing.com/news/cryptocurrency-news/germanys-financial-regulator-issues-retail-crypto-investment-warning-2452757)

ribshaw
03-22-2021, 04:45 PM
Pesty lil lads.

If you're thinking about sending these folks more more to recover what you've already lost:






to me
Hello

As part of our ongoing effort to mitigate the consistently increasing number of fraudulent cryptocurrency transactions on the blockchain network, Some of your transactions dated;

1. 2021-01-04 09:42
-22.84480000 BTC

2. 2020-10-21 15:21
-17.000000000 BTC

3. 2020-09-08 07:55
-4.58445172 BTC

The above listed Transactions to a flagged address have been approved for reversal.

Click the link below and input the hashes generated from the transactions listed above and verify.


Blockchain.com - The Most Trusted Crypto Company (http://www.blockchain.com)

Consider they already have the hashes, and these are nothing more than random transactions I've gave them from someone's wallet. Who exactly approved the reversals, three random wallet addressees?
Why not just use their magic powers to reverse the transactions and send me what's left, after all they have "my" wallet.

ribshaw
03-23-2021, 10:27 AM
A lot of people promoting scams seem to love Wolf of Wall Street memes.

Judge Forces Bitcoin Basher Jordan Belfort to Pay More Restitution to Victims He Scammed | CCN.com (https://www.ccn.com/judge-forces-bitcoin-basher-jordan-belfort-to-pay-more-restitution-to-victims-he-scammed/)



Jordan Belfort, the author and former stockbroker known as “The Wolf of Wall Street,”

‘Wolf of Wall Street’ Jordan Belfort Predicts Bitcoin Hitting $100K (https://finance.yahoo.com/news/wolf-wall-street-jordan-belfort-135855864.html)





Jordan Belfort Wasn’t Really Called “The Wolf Of Wall Street”

This is another outlandish claim that Danny Porush claims was made up or embellished for the book and subsequently the movie. No one at the firm or anywhere else ever called him that, as far as Porush knew, until Jordan Belfort made it up for the title of his memoir.
The Wolf Of Wall Street: How Accurate Was The Film's Depiction Of Jordan Belfort's Life? - CINEMABLEND (https://www.cinemablend.com/news/2475773/the-wolf-of-wall-street-how-accurate-was-the-films-depiction-of-jordan-belforts-life)

Guys Who Worship the Wolf Of Wall Street - YouTube (https://www.youtube.com/watch?v=MkCBdIahUH0)

ribshaw
03-23-2021, 11:00 AM
As if the restaurants haven't had enough to deal with.




Joe Marazzito, owner of Sweetwater Bar and Grill in Agua Dulce, said he was preparing for the restaurant’s St. Patrick’s Day crowd Wednesday when he received a call from someone claiming to be from Southern California Edison.

Marazzito said the voice on the other end of the line claimed to be the power company and that unless he paid an outstanding balance of $800 immediately, he’d lose power at his restaurant

Agua Dulce restaurant owner loses thousands to scam, offers warning (https://signalscv.com/2021/03/agua-dulce-restaurant-owner-loses-thousands-to-scam-offers-warning/)

ribshaw
03-23-2021, 11:04 AM
What will they think of next?




Pharming:

Scammers threaten the websites you view, close to malware, so instead of giving you a text, they attack the webpage you are viewing. You type in the right website address, but you are redirected to a bogus edition, where you unintentionally enter your login credentials and sensitive data. It would help if you remained acutely aware of what is going on around you. You will automatically presume you’ve arrived at the right website when you typed in the right address bar. These bogus sites have even been dressed up to look much like the real stuff. Have a look just at the blog’s URL. It will appear as a sequence of blocks or as anything identical to the actual name except with keys swapped around or a new spelling, rather than what you think. When you’re signing into domains, keep an eye out for any suspicious website addresses. Updating the processor and anti-virus protection is also necessary.

Cryptocurrency Scams You Should Know About - LoveBelfast (https://lovebelfast.co.uk/cryptocurrency-scams/)

ribshaw
03-24-2021, 11:19 AM
Several financial institutions offer "trusted contacts" or similar which could provide valuable protection for elderly family members. It may also make sense to structure limits around transactions. For instance anything more than $10K requires two signatures plus a pinky swear.

Although theft from seniors this often comes at hands of family and acquaintances so choose wisely.




These tax-related calls are only one form of fraudulent activity of which citizens – particularly the elderly – should be aware. Local police have reported a number of startling scams in recent weeks. The most egregious was recorded last month, when a local resident was convinced to give computer access to someone who stole nearly $300,000 from their bank account.

http://www.towntopics.com/wordpress/2021/03/24/phone-scams-are-on-the-rise-especially-involving-seniors/

ribshaw
03-24-2021, 11:20 AM
Seems legit.





"The money was counted in the shop, before one of the two ‘sellers’ left the shop with the money to carry out some document procedure," a person familiar with the matter said.

Read more at Nearly $500K Stolen for Bitcoin Investment, Say Hong Kong Police | News | ihodl.com (https://ihodl.com/topnews/2021-03-23/nearly-500k-stolen-bitcoin-investment-say-hong-kong-police/)

ribshaw
03-24-2021, 11:30 AM
If you're overpaid money up front for a supplies or to wrap your car it's a scam. If you have to put up money for a starter kit it's MLM. Both "job offers" likely to be found in a Craig's List or Gumtree near you.



Police say the majority of employment scams saw the victim accept a form of payment before being asked to transfer it to another account of convert the funds to Bitcoin. In the end, the cheque they got would bounce, leaving the victim out of funds.

Other victims were asked to provide banking and personal information, for the stated purposes of direct deposit of wages or ‘HR records’. That information could be collected and then sold to commit more fraudulent activity with the victim’s identification.

LPS issues warning on employment scams | Lethbridge News Now (https://lethbridgenewsnow.com/2021/03/24/lps-issues-warning-on-employment-scams/)

ribshaw
03-24-2021, 11:39 AM
I still see Cryto as a store of value or speculation, as a means of exchange on a broad scale I'm remain at a loss.


A worthwhile read.




One of the biggest false prophets of Bitcoin promote the notion that ‘Code is Law’. Those who repeat this mantra are basically saying that due to the potential monetary applications or the ‘decentralized’ nature of Bitcoin, that we somehow no longer need to rely on the existing legal and financial systems of the world in order to do business! Code isn’t law—law is law - CoinGeek (https://coingeek.com/code-isnt-law-law-is-law/)

ribshaw
03-24-2021, 11:55 AM
A few pages back I mentioned every ponzi thread of significance has some pimp or peacock https://realscam.com/f8/banners-broker-hyip-ponzi-scam-897-post13842/#post13842 claiming some variation of it's the real deal. Banners Broker was one of the first treads I remember participating in, and BB was gloriously called to task for the ole fake CEO ruse.

If you find the descriptor "alleged" for founder/creator/CEO/Head Trader/GURU/Project Manager of something you've invested in; as a general rule your money is long gone.



BitClout and its alleged founder

BitClout Receives a Cease-and-Desist Order Over Unauthorized Profile Usage (https://cryptopotato.com/bitclout-receives-a-cease-and-desist-order-over-unauthorized-profile-usage/)

24628
24629

TARA TALKS: Banners Broker SCAM (https://taratalkstoday.blogspot.com/p/breaking-news.html)

ribshaw
03-25-2021, 12:04 PM
This makes premium no sense to me. As I read the underlying value as of yesterday's close for Grayscale Litecoin Trust (LTCN) is $13 but the market price is $233. So a few people are willing to pay almost 18X the underlying value??? Put another way, someone could by almost 18 Lightcoin for the price of 1 LTCN share that holds 1 Lightcoin??

Maybe don't be that guy???

The above is crazy and I have to think at some point all of these products will have to trade much closer to Net Asset Value.


LTCN opened yesterday at $286 and traded as low as $143 today, down 46.84% for the week as I type. Would be bargain hunters grab a crayon; this is still 8X yesterday's holdings per share.



LTC Holdings per Share**
At close as of 03/24/2021
$17.57
Day Change 1.33%
https://grayscale.co/litecoin-trust/


The flagship product GBTC as of yesterday is at a discount of about 16% to holdings per share. Some people are screaming it's a bargain, only hindsight will tell.


Market Price per Share*
At close as of 03/24/2021
$44.98

Bitcoin Holdings per Share**
At close as of 03/24/2021
$52.51

Grayscale'''s Sonnenshein Addresses GBTC'''s Collapsing Premium - CoinDesk (https://www.coindesk.com/grayscale-sonnenshein-gbtc-collapsing-premium-coindesktv)

1. Bitcoin could rise and the discount could close.
2. Bitcoin could fall and the discount could widen.
3. Bitcoin could rise and the discount could widen.
4. Bitcoin could fall and the discount could close.
5 The discount could remain steady despite what the price does.

In theory one could short BTC and buy GBTC locking in a profit of 16%. However, as we saw with LTCN there is no reason these products can't trade for exorbitant premiums. Bitcoin could swoon and GBTC could boom causing this seemingly risk free trade to blow up one's account ala Long Term Capital Management.


*It pays to know what and why you're getting into an investment. Don't ever let Wall Street hype, message board tripe, or drunk Santa babbling guide your investment decisions.

ribshaw
03-25-2021, 12:30 PM
Every good Ponzi scam needs a somewhat believable but hard to verify story. With BTC 24hTrading Volume at $83,463,193,333.05 Bitcoin price today, BTC live marketcap, chart, and info | CoinMarketCap (https://coinmarketcap.com/currencies/bitcoin/) this is neither.




According to DoJ documents, the influencer offered to pay followers between 3.5% to 5% over market value for Bitcoin, claiming traditional crypto exchanges had capped how much Bitcoin he could purchase.

Instagram influencer charged over duping followers out of $2.5M BTC (https://cointelegraph.com/news/instagram-influencer-charged-over-duping-followers-out-of-2-5m-btc)

ribshaw
03-25-2021, 12:34 PM
Grammy I got arrested Spring Breaking.



Ask the caller a few personal questions that a real grandchild could answer but a scammer could not.
After you hang up, verify the story by calling the parents or other relatives of the “grandchild”.
Never wire money, sent gifts, or bitcoin to someone under uncertain conditions.

Drayton Valley RCMP warning public about the grandparents scam | rdnewsnow.com (https://rdnewsnow.com/2021/03/25/drayton-valley-rcmp-warning-public-about-the-grandparents-scam/)

ribshaw
03-25-2021, 12:38 PM
In this case the caller overrode her credit card company's warning.




After revealing that she first spotted the scheme on an online advert, MoneySavingExpert.com founder Martin immediately interrupted her, warning people not to get tricked by online commercials claiming to be selling Bitcoin.

Read more: Martin Lewis tells caller she’s likely lost PS8,000 in online scam | Metro News (https://metro.co.uk/2021/03/25/martin-lewis-tells-caller-shes-likely-lost-8000-in-online-scam-14303947/?ito=cbshare)

ribshaw
03-25-2021, 01:02 PM
Here we go again.




Who is Action Refund?

Action Refund is an Israeli-based company that is helping victims of online fraud. They are specialized for clients that lost money due to scams on the financial market – in binary options, Forex trading, CFDs, and cryptocurrency trading.

Action Refund Reviews – 2021 - Legal Reader (https://www.legalreader.com/action-refund-reviews-2021/)




The owner of the website is using a service to hide their identity om WHOIS

According to Alexa this site has a low Alexa rank

This website is not optimized for search engines
High number of suspicious websites on this server

We found a negative association on Social Media


actionrefund.com Reviews | scam, legit or safe check | Scamadviser (https://www.scamadviser.com/check-website/actionrefund.com)

This is her only article on this website as far as I can see and a very brief Google search yielded nothing more than a similarly named stylish ladies skirt/jacket combo.



Samona Tweed is an online legal advocate providing legal advice to online users who have been victims of online scams. She works for a reputable company that aims to help online users get their money back due to all sorts of scams over the web, such as unscrupulous online purchases. Her passion for protecting fellow Millennial consumers prompted her to provide expert advice through guest posts. Samona has also been invited to do virtual counseling to online scam victims.

Samona Tweed, Author at Legal Reader (https://www.legalreader.com/author/samonatweed/)

Guest Posting - Legal Reader (https://www.legalreader.com/guest-posting/)


We only accept articles that are non-promotional (no “advertorials”), related to:

Consumer protection
Legal issues in business

Or not.

ribshaw
03-26-2021, 10:53 AM
Broadly there are four types of cryptocurrency scams that are proliferating:

• Fake prizes, giveaways, or sweepstakes
• Investment related scams
• Advance fee schemes
• Celebrity impersonations

403 Forbidden (https://securityboulevard.com/2021/03/cryptocurrency-is-going-mainstream-so-are-the-scams/)

Study Finds Cryptocurrency Scams Surged 40% in 2020, Forecasts an Increase of 75% in 2021 – Security Bitcoin News (https://news.bitcoin.com/study-finds-cryptocurrency-scams-surged-40-in-2020-forecasts-an-increase-of-75-in-2021/)





The fake article is entitled: “BREAKING NEWS: Adrian Orr Reveals How to Profit from Coronavirus”.

Scam warning after suspected Bitcoin fraudsters post fake Stuff story | Stuff.co.nz (https://www.stuff.co.nz/business/124671802/scam-warning-after-suspected-bitcoin-fraudsters-post-fake-stuff-story)

ribshaw
03-26-2021, 11:29 AM
This article was sprinkled with enough gloom dust to pique my interest.



Up to 125x leverage on an already highly volatile Bitcoin or insanely volatile Dogecoin. What can go wrong, after all?

Chernobyl Market Crash - Inside Paradeplatz (https://insideparadeplatz.ch/2021/03/25/chernobyl-market-crash/)

What has gone wrong when this sort of leverage has been employed is the more apropos query.



In fact, FXCM said it has a negative equity balance of $225 million. That's money that customers owe to the company.

The FXCM situation raises questions about the assets clients have at the troubled broker. Since FXCM is a currency broker, most of those assets are futures, options and swaps contracts -- none of which are protected by insurance if a broker collapses.

Swiss shock crushes US currency broker (https://money.cnn.com/2015/01/16/investing/swiss-currency-fxcm/index.html)


This is insane. A relatively small intraday move against you will wipe out your position. The other issue is one of counterparty risk assuming you're on the right side of the trade when all those at 125X just blowed up. Where are the reserves coming from to pay you?

US exchanges offering margin on Crypto products are requiring about 50% put up on each trade. Fuddy Duddies that just don't get the new paradigm All.



For instance, a 10,000 USDT position would only require 80 USDT of initial margin.

https://www.binance.com/en/blog/393707200802271232/5-Things-You-Need-to-Know-About-Binance-Futures-125x-Leverage

The charts in this article show and interesting picture of forced selling when the unforeseen hits.



Margin Debt and the Market: Up Another 1.9% in February, Continues Record Trend
https://www.advisorperspectives.com/dshort/updates/2021/03/17/margin-debt-and-the-market-up-another-1-9-in-february-continues-record-trend

ribshaw
03-26-2021, 11:36 AM
I love me some irony.


24630

24631

Site Issue TLS certificate expired

Sucuri SiteCheck - Free Website Security Check & Malware Scanner (https://sitecheck.sucuri.net/results/blocktribune.com)

ribshaw
03-27-2021, 01:06 PM
Of all the crypto scams this site has covered one thing remained clear, it virtually always ended better for people that simply bought crypto on their own. If they wanted to trade, again did so on their own. Buying Bots, plug and play mining stories, funding super traders, or any number of other schemes has proved a mug's game. Proceed at your own peril regardless of what you choose, crypto isn't your nanna's insured xmas club.

As I've previously alluded to in this thread I find the pricing discrepancies in crypto very compelling. For further reading:

Riskless arbitrage financial definition of Riskless arbitrage (https://financial-dictionary.thefreedictionary.com/Riskless+arbitrage)
Risk Arbitrage Definition (https://www.investopedia.com/terms/r/riskarbitrage.asp)





A swathe of shadow banks in the $1.6 trillion cryptocurrency market have figured out how to generate returns of 12% with minimal risk:
In this case, they’re lending to hedge funds that need cash to buy Bitcoin for a trade that is almost guaranteed to pay out at annualized returns that have recently hit 20% to 40%

While those willing to lend cash are being paid well for the risk they are taking, the shadow banks in crypto lack FDIC insurance and other customer protections. There is also little transparency in this part of the financial world, Dorman said. “All these guys are just hedge funds playing a bank on TV,” he said. “Counterparty risk is real.”

On March 15, Bitcoin traded for $56,089 while the July future contract on CME Group Inc. was at $60,385.
A hedge fund could buy Bitcoin at that spot price and sell the July futures, meaning the derivatives would gain value if Bitcoin fell. Doing so on March 15 locked in a 7.7% spread between the cash and futures price.

Crypto Shadow Banking Explained and Why 12% Yields Are Common (https://finance.yahoo.com/news/crypto-shadow-banking-explained-why-113000231.html)

From a scam standpoint, most people have no way of knowing if a lender allegedly paying 12% is really lending or a trader claiming to make a similar trade to the above is trading.


"Minimal Risk" and "Almost Guaranteed" are not the same as No Risk and Guaranteed. Even if the fund is actually trading; Long-Term Capital Management - Wikipedia (https://en.wikipedia.org/wiki/Long-Term_Capital_Management) provides a classic example of a strategy margined to the max. Just because virtually identical assets were being traded didn't mean prices couldn't massively diverge. Years of steady profits wiped out in the blink of an eye. This again can provide a scammer a prefect blow off, sorry bad markets have to shutter the fund. Better luck next time.

ribshaw
03-27-2021, 01:16 PM
Better this than sending your money to some Instagram Guru.



Traders who boast about their own cluelessness are upending the traditional investing hierarchy. It probably won’t last
Robinhood Trader’s Battle Cry: ‘It’s All Just a Game to Me’ - WSJ (https://www.wsj.com/articles/robinhood-traders-battle-cry-its-all-just-a-game-to-me-11616770807)

Like many scam victims, some of these people will learn lessons they can build on for the rest of their lives. Far too many will end up like the same mopes that continue to fall for one empty promise after the next.

ribshaw
03-29-2021, 11:08 AM
Ermahgerd, it's more ridiculous than I imagined.



Tesla will give users about 30 minutes to make a payment in Bitcoin from placing the order, a representative of the electric vehicle maker for the Northeast region said

As per the automaker's terms, it is the responsibility of the customer to input the alphanumeric code provided to make the payment accurately in the recipient field

The terms also contain a section on underpayments and overpayments ad make it clear that if "you transmit more than the Bitcoin Price, you will not be entitled to reimbursement of the excess amount."

Adding to the uncertainty of buying a vehicle in BTC from Tesla are the tax implications. The apex cryptocurrency is taxed as property instead of like currency.

Why Buying A Tesla With Bitcoin Isn't Really A Good Idea — For Now (https://www.yahoo.com/lifestyle/why-buying-tesla-bitcoin-isnt-090423856.html)



Unfortunately, the way that Tesla has specified this long-term relationship privileges people who pay with fiat over those who pay with bitcoin. To see why, look at the last page of Tesla’s three-page “Bitcoin Payment Terms & Conditions” below.

In short, if your $50,000 Tesla is a dud and your state’s lemon law entitles you to a refund or buyback, Tesla says it will pay you back in one of two ways. It will return the exact amount of bitcoins from the time of purchase. Or it will pay back the $50,000 in U.S. dollars. It reserves the right to choose which, bitcoin or dollars.

And that’s the danger. If the price of bitcoin has plunged by 50%, there’s a good chance Tesla will refund your lemon with $25,000 worth of bitcoins, not a $50,000 check. Congrats, you’re $25,000 poorer.

Buy a Tesla with regular U.S. dollars and you’re guaranteed a full $50,000 refund.

What if bitcoin’s price has doubled? If you qualify for a lemon law buyback, you’re probably not going to get $100,000 in bitcoin back from Tesla. Tesla reserves the right to pay the refund in fiat, so it’ll probably just send you a check for $50,000.

You’re a Lemon if You Buy a Tesla With Bitcoin (https://finance.yahoo.com/news/lemon-buy-tesla-bitcoin-115941786.html)

ribshaw
03-29-2021, 05:19 PM
Could have Forsage this coming.





Montana's securities regulator ordered the operator of Forsage, an investment scheme built on Ethereum and widely viewed as a pyramid scam, to stop its work within the state.

Montana regulator calls out Forsage for running a pyramid scheme on Ethereum (https://www.theblockcrypto.com/linked/99723/montana-forsage-pyramid-ethereum)

https://behindmlm.com/mlm-reviews/forsage-review-ethereum-based-cash-gifting-scheme/

https://behindmlm.com/mlm-reviews/forsage-xgold-review-lado-okhotnikovs-4th-forsage-ponzi/

ribshaw
03-30-2021, 10:39 AM
“To me sounded very legitimate,” Walton said.

The trading platform was sleek, professional, and chock-full of testimonials.

“The whole thing looked real,” Walton said.

Bitcoin Investor ‘Sick To My Stomach’ After Being Scammed Out Of $7,000 – CBS Chicago (https://chicago.cbslocal.com/2021/03/30/bitcoin-investor-scam-cynthia-marshall-auto-virtual-options/)

ribshaw
03-30-2021, 10:53 AM
Stomach turning.




In less than a second, nearly all of his life savings — 17.1 bitcoin worth $600,000 at the time — was gone

Trezor, based in the Czech Republic and owned by a company called Satoshi Labs, is a well-known maker of hardware wallets. Trezor doesn't have a mobile app, but crypto thieves created a fake one and put it on Apple's App Store in January and the Google Play Store in December, according to those companies, tricking some unsuspecting Trezor customers into entering their seed phrases

Amongst many fake five-star reviews

iPhone user loses $600,000 in Bitcoin to scam app, blames Apple | iMore (https://www.imore.com/iphone-user-loses-600000-bitcoin-scam-app-blames-apple)

Maybe 17 wallets, 17 passwords, and 17 hidy holes are what it takes to keep your crypto safe?

ribshaw
03-30-2021, 11:20 AM
Continued from Bitcoin Investor ‘Sick To My Stomach’ After Being Scammed Out Of $7,000 – CBS Chicago (https://chicago.cbslocal.com/2021/03/30/bitcoin-investor-scam-cynthia-marshall-auto-virtual-options/) above.

Cynthia Marshall hucking crypto trading had her credentials hijacked by the Dallas Mavericks CE:RpS_wink:???



Cue Cynthia Marshall; per Facebook an entrepreneur, crypto-consultant, binary trader, and account manager. Her pitch? She can earn you $50,000 weekly by trading your Bitcoin.

Marshall reached out to Walton via Facebook Messenger. She convinced him whatever Bitcoin he invested would be safe, because it would be kept in a password-protected account on her company’s website – Auto Virtual Options.


24638

Cynthia Marshall (https://www.facebook.com/cynthia.marshall.96387)

24639

Home - Annual Meeting 2021 (https://www.nboaannualmeeting.org/home)



This website has been identified by Fake Website Buster as a scam.


Negative highlights

The age of this site is (very) young

The Alexa rank (how much traffic) is rather low
The server of the site has several low reviewed other websites
Cryptocurrency services detected, these can be high risk
High risk financial services or content seems to be offered

A risk/high return financial services are offered

Payment methods support anonymous transactions were found


autovirtualoptions.online Reviews | scam or legit check (https://www.scamadviser.com/check-website/autovirtualoptions.online)

I quit after a few, there are a lot of websites linked to the same photos touting all sorts of trading. Sometimes they even keep the CEO's name consistent.

Marc Smith CEO
24640
autovirtualoptions - Forex, Stocks, ETFs & Options Trading (https://www.autovirtualoptions.online/)

Richard McCain CEO
24641
https://bitcoinsanalytica.com/en/

Marc Smith CEO Again
https://cpayments.eu/
https://bullioncenter.ca/
https://btcnakitboz.com/index-2.html
http://www.cryptosheart.com/index.php

ribshaw
03-30-2021, 11:36 AM
This Cynthia Marshal Crypto Consultant used to be Faith Alfred (facebook.com/faith.alfred.756).

Cynthia Marshall
��Entrepreneur
��Crypto-Consultant
��️Binary Trader & account manager
��Earn $50,000 Weekly
��DM Me

Cynthia Marshall (https://www.facebook.com/faith.alfred.756)

The image she's using comes back to this twitter account.

https://twitter.com/flyliberty1922?lang=en

ribshaw
03-31-2021, 11:46 AM
This number seems high to me other than saying "depending on the cost of electricity" why mine when you could buy cheaper?





Mining equipment is also very power-hungry. Depending on the cost of electricity in a miner’s area, it could potentially cost $73,000 to process one bitcoin in a month’s time.(2)

One way to reduce this cost is to join a mining pool that harnesses the computational power of hardware owned by multiple miners.

The Best Bitcoin Mining Software for 2021 (https://www.investopedia.com/best-bitcoin-mining-software-5095403#citation-2)

Mining pools have been a recipe for fraud ala USI Technology and Dunamis which claimed to be renting computers. One oft cited criticism of Dunamis was the facility was located in Arizona where cooling costs would have been through the roof, no pun intended. Dumamis claimed to have discounted rates but offered no proof and the Pinetop facility was hooked to Abe Lincoln dated power lines. Unlikely story proved certain losses.



Bitcoin consumes '''more electricity than Argentina''' - BBC News (https://www.bbc.com/news/technology-56012952)

Bitcoin uses as much energy as Sweden and is on course to use even more. Experts say that's a 'major problem' for its future. (https://www.yahoo.com/news/bitcoin-uses-much-energy-sweden-132520400.html?.tsrc=fp_deeplink)

ribshaw
03-31-2021, 11:53 AM
Great that a little money was recovered, might be doled out minus the vig in a few years. Perhaps better is a deep dive into people's history of getting your riches you rich before sending money at all.




~1200 BTC recovered from Mirror Trading International (https://behindmlm.com/companies/mirror-trading-international/1200-btc-recovered-from-mirror-trading-international/)

Despite raiding MTI’s offices and the Marks’ residence, likely gaining more than enough to charge them in the process, no further action has been taken by South African authorities.

The Marks’ cryptocurrency related fraud in South Africa dates back to BTC Global Review: Five tier subscription-based bitcoin gifting (https://behindmlm.com/mlm-reviews/btc-global-review-five-tier-subscription-based-bitcoin-gifting/)

Despite a still-open criminal investigation being launched as early as March 2018, again South African authorities have refused to hold the Marks accountable.

ribshaw
03-31-2021, 12:04 PM
It's exasperating talking some people out of getting themselves scammed. I get that listening to some aging online hillbilly might not get it for some, but when the bank and police try to warn you?



At least one bank is said to have raised concerns over a batch of transactions, in the region of €500,000 ($586,500) each, initiated from an account that had lain dormant for a number of years.

Despite being briefed by gardaí about the dangers of losing their money, it is understood the customer believed they were making an investment and initially insisted on going ahead with their plans. Eventually, after accepting police advice and with the bank’s cooperation, another planned transfer of about €500,000 was blocked. Millions of Euros Invested in Alleged Bitcoin Fraud in Ireland - Decrypt (https://decrypt.co/63408/millions-of-euros-invested-in-alleged-bitcoin-fraud-in-ireland)

ribshaw
03-31-2021, 12:56 PM
‘This has to be one of the single greatest losses of personal wealth in history,’ says stock-market pro of Archegos margin call (https://www.yahoo.com/finance/m/af88262e-3d01-3fdc-b28c-99209841123a/%E2%80%98this-has-to-be-one-of-the.html) interests me more when juxtaposed with the below. The easiest way to end up with a small fortune is to leverage a large one.

I don't find fault with this author's sentiment.




In an early 2020 article for Yahoo! Finance, economist Tendayi Kapfidze definitively highlighted Bitcoin as a Ponzi scheme; Kapfidze’s rationale can be applied, as well, to Dogecoin. Besides bluntly contending that cryptocurrency is a hoax, Kapfidze affirms, “you only make money based on people who enter after you.”

Furthermore, Kapfidze proclaims that with these currencies presently existing for more than ten years, “it [Bitcoin] has no real utility in the world… It’s a solution in search of a problem and it still hasn’t found a problem to solve.”

Although Bitcoin’s future appears adequate, both Bitcoin and Dogecoin suffer from intense manipulation from “captains” wielding their influence — namely Elon Musk. Succeeding these flagrant persuasions, the impressionable buyer is intimidated into purchasing a commodity that is a sham and destructive to their economics.

Opinion | Billionaires exploit consumers for Dogecoin Ponzi | The Daily Illini (https://dailyillini.com/opinions/2021/03/31/opinion-billionaires-exploit-consumers-for-dogecoin-ponzi/)

I said something similar in 2013.


03-06-2013
In the second order of importance in my mind it seems you would need vendors who accept bit coins and not founders to adopt the technology. The only application I see other than a few Sovereign Citizens who don't trust the government and a few techies would be for industries where customers may want discretion like porn or shells who want to launder money. Other than discretion, why bother? Unless of course it is speculation.

I found a chart in Wired magazine of the value of bit coins converted to real currency and it looks like any other speculative bubble, from Tulip Mania to the DotCom. It peaked and crashed in 2011 and now appears to be on the rise again according to an online calculator. If people want to speculate, fine, but it never ends well for the (m)asses.

https://realscam.com/f8/bit-billions-bitbillions-com-2083/index2.html#post47653



Tesla and a few companies accepting Bitcoin tastes like a nothing burger ala 1999 when every company was adding .COM to their name. Crypto remains a ridiculous way to buy stuff for virtually everyone. As a speculation/store of value sure as long as you aren't positioned like or invested with someone like Bill Hwang when the tide rushes out.

ribshaw
04-01-2021, 12:20 PM
I've seen the light on Crypto!!!


Today I'm going all in on Hater Coin, got my stake right here: lajojrnfkmdoijn1u23u94h9ufvn83h49biv9ge9bvd!!! They have an 8 day old website, a yellow paper, pictures of Superman, and they're blasting this NFT all the way up Uranus.


A lame April Fools post on my part, but how far from reality have I really strayed?







Matt Lorion, a 17-year-old TikTok influencer known for promoting cryptocurrencies online, has released a new video apologizing for a Star Wars-themed scam he promoted.

Lorion claims in the video that he lost $10,000 of his own money in the scam, but that could not be verified independently on Thursday.

The website for the Mando cryptocurrency was registered a week ago today on March 25 and featured plenty of images from the hit Disney+ show “The Mandalorian”—images all used without permission, of course.

Lorion’s latest video is about a new cryptocurrency called Elongate, which he acknowledges that people think is yet another scam.

TikTok Teen Apologizes for Promoting 'Mando' Cryptocurrency (https://gizmodo.com/tiktok-influencer-apologizes-after-promoting-scam-mando-1846596562)





“SpaceX is going to put a literal dogecoin on the literal moon,” Musk tweeted at around 10:25 UTC (6:25 a.m. ET) today. Musk’s tweet did not explain how this seemingly impossible feat would be accomplished, as by definition digital currencies have no physical structures and therefore aren’t literal anythings. Perhaps the tweet being sent on April Fool’s may have had something to do with it.

April Fool’s Day joke or not, the tweet by the noted DOGE whisperer sent the cryptocurrency bounding from roughly $0.053 to $0.070, according to data provider CoinGecko

DOGE Jumps After Tesla’s Musk Promises ‘Literal’ Moonshot (https://finance.yahoo.com/news/doge-jumps-tesla-musk-promises-135441936.html?.tsrc=fp_deeplink)

ribshaw
04-02-2021, 10:59 AM
Skeptical.



“Owning any digital content can be a financial investment, hold sentimental value, and create a relationship between collector and creator. Like an autograph on a baseball card, the NFT itself is the creator’s autograph on the content, making it scarce, unique, and valuable,” Valuables stated.

Why Twitter CEO Jack Dorsey’s first tweet is worth $3.26 million (https://au.finance.yahoo.com/news/jack-dorsey-tweet-010318816.html)

Not skeptical.



Since digital ownership of Jack Dorsey's first tweet sold for $2.9 million, expect fraudsters to focus more on non-fungible token aficionados.


Open for debate: Whether NFTs are a bubble that's set to burst. Similar criticism has been leveled at the likes of bitcoin and other cryptocurrencies, with proponents saying they are the future of financial systems and critics deriding them as being little more than a Ponzi scheme in digital form.

Likely NFT Scams

Doppelgänger stores
Counterfeits or knockoffs
Fake giveaways or "airdrops
Fake apps

Non-Fungible Tokens: Of Course They're Attracting Scammers (https://www.bankinfosecurity.com/blogs/non-fungible-tokens-course-theyre-attracting-scammers-p-3011)




There is one guy who got rich off of Beanie Babies
His name is Ty


https://www.youtube.com/watch?v=PgDsyj5eLmo



Momentum Investing is similar to game of Musical Chairs. As excitement builds the market hands out more and more bags for people to hold. And just in case you be thinkin about turning your empty bag into an NFT:

Token description

Bag holder - Rarible - Price $ 44.47 | Coinranking (https://coinranking.com/nft/f42be412f4-rarible-bag-holder)

Are you still holding a bag of flaming dog **** from 2018?

ribshaw
04-02-2021, 01:05 PM
One thing about most insurance companies is they understand how to price risk. If they're going to write a pool of insurance they expect premiums to exceed losses. In some instances insurers wrote polices their purses couldn't cover. It's very important to know what's backing your insurer, or if in the case of many scams there is any insurance at all.





If Elon Musk's Tesla wanted to insure all of its recent $1.5 billion bitcoin investment against the myriad of pitfalls it could encounter, like hacks, theft and fraud, it would be out of luck.

The high risk of hacking means smaller companies seeking protection for their 'hot wallets' - digital assets stored online - can typically get just about $10 million covered, with the largest limits rarely exceeding the $100-200 million range, insurers and brokers said.

HEADS IN THE SAND

Many find the concept of 'minting' NTFs - to make them part of a blockchain - and the prices that can reach millions of dollars, perplexing, but Davis said it would be a mistake for insurers to dismiss this new market.

"More companies are going to start tokenizing parts of their business. And if you just say, well, we're not covering it, because it's represented as a token, it doesn't make any logical sense," he said.

"They can't just bury their heads in the sand and hope that it all goes away, because it's not and it is here to stay."

As Tesla takes the plunge, wary insurers watch crypto craze from the sidelines (https://www.yahoo.com/news/tesla-takes-plunge-wary-insurers-131110672.html)


If they can't model for it a profit, it they'll steer clear. I don't know that I would describe this as heads in the sand from the perspective of an insurer and more that of too many buyers of what will prove to be worthless stings of characters.

ribshaw
04-03-2021, 11:45 AM
Ponzis always "work" at first. Just like finding the queen is easy on any street corner until you lay down some real cash.




Locating an online cryptocurrency agency, an initial US$4,000 investment netted a quick and tidy profit.

“I was like, ‘Wow … this really works,'” he recalled.

As his profits piled up, so did the excuses when he tried to cash out.

WhatsApp conversations with the scammers show excuses piled upon excuses — promises of a PayPal transaction turned into boxes of cash delivered to his home.

“He came in contact with the custom police who interrupted package and demanded insurance paperwork,” came one message, requesting $10,000 to free the money from impoundment.

“In order to get my money back, it cost me money,” Glen told me.

Words of warning from man bilked out of $200K by Bitcoin scam | Toronto Sun (https://torontosun.com/news/local-news/i-lost-everything-words-of-warning-from-man-bilked-out-of-200k-by-bitcoin-scam)

A few years back I chatted with a guy that was to finally meet a woman he met online. On the day she was to arrive an accident occurred and she ended up in the hospital. Send cash he was told.

Easy love/Easy Cash
Hook is set :fishing_can:
Problem(s) that only cash can solve

ribshaw
04-03-2021, 11:59 AM
Easy Peasy...

Meet a guy who made millions on Bitcoin — then millions more on NFTs (https://thehustle.co/meet-a-guy-who-made-millions-on-bitcoin-then-millions-more-on-nfts/)

Unless...

RIP cryptocurrencies: Number of 'dead' coins up 35% over last year; tally nears 2,000-mark - The Financial Express (https://www.financialexpress.com/market/rip-cryptocurrencies-number-of-dead-coins-up-35-over-last-year-tally-nears-2000-mark/2226169/)


“Remember, things are never clear until it’s too late.”
― Peter Lynch, One Up On Wall Street:

Peter Lynch Quotes (Author of One Up On Wall Street) (https://www.goodreads.com/author/quotes/18237.Peter_Lynch?page=1)

Watch your six...

Scams and Fraud Bubble Up as NFT Mania Takes Hold - CoinDesk (https://www.coindesk.com/scams-fraud-bubble-up-nft-mania-takes-hold)

There was another Lynch quote I was looking for something like this, "rather than investing in the next Microsoft-invest in Microsoft."

ribshaw
04-03-2021, 12:13 PM
“Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. [The Blockchain Recovery Association] is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm.”

The fake firm has listed its address and phone number as: Cambridge Court 210, Shepherds Bush Rd, Hammersmith, London; +44 555-183-726. CoinDesk reached out to this number and received a “this call cannot be completed as dialed” message (555 numbers, traditionally used for directory assistance, often indicate fake numbers).

Access Denied (https://www.nasdaq.com/articles/blockchain-recovery-scam-is-posing-as-a-legit-firm-uk-fca-warns-2021-04-02)

ribshaw
04-05-2021, 11:19 AM
Why would an "journalist" ask if a broker is a scam and then rate it 4.8 stars????.8


US Traders Allowed No

super1investments Review (FULL) ✅ - Is it a scam?⚠️ | CryptoVevo (https://cryptovevo.com/2021/04/05/super1investments-review/)

All my other sniveling aside, what legitimate broker hides ownership and doesn't run on it's own independent server?






Negative highlights

The website's owner is hiding his identity on WHOIS using a paid service

This website has only been registered recently.

This website does not have many visitors

This website is not optimized for search engines
We found many low rated websites on the same server

Anonymous payment methods were identified on this site


super1investments.com Reviews | scam, legit or safe check | Scamadviser (https://www.scamadviser.com/check-website/super1investments.com)

ribshaw
04-05-2021, 11:25 AM
Here's a little different take on the "is it a scam." Oh this broker is a scam, but here are some links to broker we like:RpS_wink:.



Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

Astro Trade Review 2021 – Are They Safe? (https://www.chainbits.com/scam-brokers/astro-trade/)

I have no idea if the brokers they like are any good, or what methods they are using to vet them. If referral links are involved the tactic of pan one promote an alternative is smarmy IMHO.

ribshaw
04-06-2021, 11:06 AM
While scrolling through Facebook late one night a happy investor said he stumbled across a site offering him the chance to make millions of dollars on bitcoin said no one ever.




A simple Google search reveals Veritex is based in Estonia and is commonly suspected to be linked to internet scams.

The same applies for Bluesnow, Simplex-Elastum and Simplex-Bitstamp.

Bitcoin scam sees man lose nearly half a million dollars, calling banks and exchanges to account - ABC News (https://www.abc.net.au/news/2021-04-06/bitcoin-scam-brother-says-westpac-has-explaining-to-do/100041316)



“Remote access scams are sadly common these days. Scammers posing as IT departments, network providers or online shopping companies to trick victims into relinquishing control of their devices to hack into their accounts and steal sensitive data.

“Never allow remote access to any of your devices. You may get asked to type something into a web browser, this can allow the caller to make it look like you are being hacked or to gain remote access to your devices.

“Don’t download anything an unknown caller has asked you to. Please warn friends, family and neighbours as these scams are a particular issue within Nottinghamshire.”

Nottinghamshire man loses PS80,000 in Bitcoin scheme scam | West Bridgford Wire (https://westbridgfordwire.com/nottinghamshire-man-loses-80000-in-bitcoin-scheme/)

ribshaw
04-07-2021, 10:51 AM
It starts something like this...

CopyProTraders Review: Crypto trading securities fraud (https://behindmlm.com/mlm-reviews/copyprotraders-review-crypto-trading-securities-fraud/#comments)

And ends something like this...

iQuandex collapses, pulls "technical error" exit-scam (https://behindmlm.com/companies/iquandex-collapses-pulls-technical-error-exit-scam/)

ribshaw
04-07-2021, 10:58 AM
This money is loong gone.




The Singaporean prime minister, Lee Hsien Loong was recently subject to a scam that involuntarily had him involved. A member of the BitClout platform had reportedly used the name of the prime minister in order to pocket some easy money. The user sold fake tokens worth over $10,000. The official revealed that the scammer had made use of the information available on his Twitter account to sell tokens on BitClout. Loong went on to asset that he had nothing to do with BitClout and the entire activity was reportedly done without his permission. "Singaporeans Remain Vigilant While Dealing With Crypto," Alerts PM Lee Hsien Loong (https://www.tronweekly.com/singaporeans-remain-vigilant/)

ribshaw
04-07-2021, 11:05 AM
A century later and this simple scam still works like a charm.




TJ connected with Mason on Facebook.

In November last year, TJ purchased R3 000 worth of bitcoin through the Luno crypto exchange and sent it off to the address supplied by Chris.

Sure enough, a few weeks later she had R11 000 deposited into her Luno account.

Satisfied that her first investment worked out so well, she was game for another round.

How South Africans lost money in a bitcoin scam on Facebook – The Citizen (https://citizen.co.za/business/business-news/2468474/how-south-africans-lost-money-in-a-bitcoin-scam-on-facebook/)

ribshaw
04-07-2021, 11:11 AM
Several variations of this scam...

'Horrible new scam' warns pet owners to send PS450 or their dog 'will be killed or sold' - Hull Live (https://www.hulldailymail.co.uk/news/hull-east-yorkshire-news/horrible-new-scam-warns-pet-5268114)

Pet Scam #1. If you have placed an ad in a local paper about your lost pet, and particularly if you offered a reward, you may get a call from someone claiming to have found your pet.

The caller wants the reward in advance, though, and if you refuse to pay, they'll threaten to harm your pet to put the pressure on so you'll pay up.

Pet Scams To Watch Out For.html (https://scambusters.org/petscams.html)

6. If you've found a pet and someone claims it belongs to them, before you return the pet, ask for some kind of documentation that the pet actually belongs to them -- ownership or breeding papers, records from the vet, or even family photos.

ribshaw
04-08-2021, 10:07 AM
They advised the public to adopt precautionary measures such as not clicking on suspicious URL links, not sending money to people they do not know or have not met in person before, and not sharing bank account login credentials with anyone.

Police also urged the public to decline job offers that require the use of their personal bank accounts to perform money transfer for others, purchase cryptocurrency on behalf of someone else or open new bank accounts.

“The police would like to remind the public that your bank account(s) will be ‘frozen’ if it is used to assist in laundering money from criminal activities, and you will be subjected to criminal investigations,” they said.


They also urged individuals not to withdraw or transfer any suspicious funds they may receive in their bank accounts and report the matter to the bank and the police.

Police warn public against unknowingly becoming money mules through scam job advertisements - CNA (https://www.channelnewsasia.com/news/singapore/police-warn-public-money-mule-job-advertisement-scams-14581246)

Avoid payment scams while rebuilding your finances | FTC Consumer Information (https://www.consumer.ftc.gov/blog/2021/04/avoid-payment-scams-while-rebuilding-your-finances)

ribshaw
04-08-2021, 10:13 AM
Hope sharing your pancake photos was worth it.



Now in 2021, the tech juggernaut has once again been hit with a fresh wave of data leaks, however, this time around, the number of users whose records were exposed was not 50 million but a staggering 500 million
Crypto at risk after Facebook leak: Here’s how hackers can exploit data (https://cointelegraph.com/news/crypto-at-risk-after-facebook-leak-here-s-how-hackers-can-exploit-data)

If you haven't already considered it now might be the time.

Credit Freeze FAQs | FTC Consumer Information (https://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs)

Currently the credit reporting agencies (who are a huge part of the problem IMHO) are offering free weekly reports due to a heightened level of fraud surrounding Covid.

Annual Credit Report.com - Home Page (https://www.annualcreditreport.com/index.action)

And I guess do whatever you have tu-tu protect your crytpo!

ribshaw
04-12-2021, 12:28 PM
MTI’s fraud: a case study

Regulating cryptocurrencies necessary for mass adoption (https://www.iol.co.za/business-report/opinion/regulating-cryptocurrencies-necessary-for-mass-adoption-44aeb700-e033-4384-9858-c721fc237147)




Additional Scams

Other scams include building an entire fake exchange, which is what happened with BitKRX in South Korea. Investors poured millions into the exchange because the promises of profit were so great. In reality, they were simply stealing money from their clients. South Korean authorities eventually shut down the unethical exchange, but not before investors lost millions upon millions in capital.

Some scams don’t even involve stealing any crypto. A popular Bitcoin scam involves fake mining hardware, which is often expensive and difficult to find. Mining Bitcoin requires tremendous energy and computational power, so prospective miners often jump at the chance for cheap equipment. But after purchasing a supposedly state-of-the-art Bitcoin mining machine, the buyer often finds the power and efficiency have been vastly overstated — if the darn thing even works at all. Be cautious of anyone offering cheap mining equipment on eBay or Amazon.Top 5 Bitcoin and Crypto Scams in 2021 • Benzinga (https://www.benzinga.com/money/top-5-bitcoin-and-crypto-scams/)

ribshaw
04-12-2021, 01:25 PM
TokenHell broker reviews, scam or legit?

I can't say they're all scam/legit or some combination thereof as much as I will say this is smarmy "journalism" IMHO. More to the point why they recommend 20+ in what seems like the last month? Why not five best of breed like every other financial publication?

Maybe something like this...

1. Is the broker run on it's own server or a sever shared with hippies selling apples? If apples then NO
2. Is the broker SIPC insured and insured against hacking losses? If NO then NO (SIPC won't cover cryto losses)
3. Has the technology been reliable when I needed it. IF NO then NO.
4. Do I know who owns and or runs the business? If NO the NO.
5. Is the broker registered in the country where I do business? If NO then NO.


All of the below reviews are rated 9 or better on presumably a 10 point scale? All that I clicked on had what looked like affiliate links.

Coinbit Review - Is Coinbit Scam or Legit? (https://tokenhell.com/coinbit/)

Bitrue Review - Is Bitrue Scam or Legit? (https://tokenhell.com/bitrue/)

CoinEx Review - Is CoinEx Scam or Legit? (https://tokenhell.com/coinex/)

itBit Review - Is itBit Scam or Legit? (https://tokenhell.com/itbit/)

eToroX Review - Is eToroX Scam or Legit? (https://tokenhell.com/etorox/)

https://tokenhell.com/coinbase-pro/

https://tokenhell.com/itrustcapital/

https://tokenhell.com/author/shelly-melancon/

https://tokenhell.com/catex/

https://tokenhell.com/nicehash/

https://tokenhell.com/coinfield/

https://tokenhell.com/crex24/

https://tokenhell.com/coinbene/

https://tokenhell.com/bitkub/

https://tokenhell.com/bitbuy/

https://tokenhell.com/nominex/

https://tokenhell.com/bitvast/

https://tokenhell.com/indodax/

https://tokenhell.com/gokumarket/

https://tokenhell.com/ecomarkets/

https://tokenhell.com/ezdsk/

https://tokenhell.com/author/adebayo-owotunse/

https://tokenhell.com/jcmfx/

https://tokenhell.com/xchangebit-io/

https://tokenhell.com/author/bentley-kapoor/

A loser in the lot???

DISCLAIMER
This website may have financial affiliations with some (not all) of the brands and companies mentioned on this website

https://tokenhell.com/exchange-broker/

ribshaw
04-13-2021, 12:22 PM
There's an old saying among scoundrels that you can't cheat an honest man. While plenty of honest people do get the shaft, many scams are designed to prey on people's greed and larceny.




Other users on the Lightshot platform are seeing the images with the ostensibly sensitive info, and if they take the bait, they will follow the URL shown to grab the unfortunate user’s assets.

Taking the scammers’ bait is certainly a matter of being greedy, as these users are victimized while trying to victimize someone else. As such, they had it coming, and it served them right, but it’s still a good lesson for the rest.

Scammers Tricking Rapacious Crypto-Investors With the Help of Lightshot | TechNadu (https://www.technadu.com/scammers-tricking-rapacious-crypto-investors-lightshot/264612/)

ribshaw
04-13-2021, 12:24 PM
Juicy...

Hugh Austin and Brandon Austin, con artists in numerous law suits? - Lending Times (https://lending-times.com/2021/04/13/hugh-austin-and-brandon-austin-con-artists-in-numerous-law-suits/)

ribshaw
04-15-2021, 11:38 AM
You could statistically set up trades to be 99% winners with one small and one big problem. The amount you win 99% of the time will be very small and the amount you lose on the 1% will be big. Enough to wipe out all your previous gains and then some. For many years 90% winners has been a common hook among woo peddlers touting option selling courses. Everyone seems to love teaching and selling bots more than they do profitable trading.

I just modeled a 90% trade expiring next week, risk $49 to make $1. I'll pass.






9Winz Reviews

The robot appraises that its trade algorithms perform well at a 99 percent of accuracy rate.

The base subsidizing sum is $200.

9Winz Reviews 2021 - Scam App Or Legit in India? (https://www.bignewsnetwork.com/news/268725168/9winz-reviews-2021---scam-app-or-legit-in-india)




Positive Highlights= None

9winz.xyz Reviews | check if the site is a scam or legit| Scamadviser (https://www.scamadviser.com/check-website/9winz.xyz)

Even in massive bull markets this stuff happens all the time.

XRP price - $420M in leveraged long traders liquidated after XRP rallies to $1.96 | Fintech Zoom - World Finance (https://fintechzoom.com/fintech_news_cryptocurrency-news/xrp-price-420m-in-leveraged-long-traders-liquidated-after-xrp-rallies-to-1-96/)

As does this...



According to a 2020 report, over a 15-year period, nearly 90% of actively managed investment funds failed to beat the market.

Investment Pros Can't Beat the Stock Market, and It's Not Worth Trying (https://www.businessinsider.com/personal-finance/investment-pros-cant-beat-the-stock-market-2020-7)

It's your subsidizing sum, choose wisely.

ribshaw
04-16-2021, 12:40 PM
What has the world come to when you can't trust people offering hacking software?

HackBoss malware is using Telegram to steal cryptocurrency from other hackers | IT PRO (https://www.itpro.co.uk/technology/cryptocurrencies/359242/hackboss-malware-is-using-telegram-to-steal-cryptocurrency-from)

Altcoin Scam #1: The Classic Pump and Dump
Top 5 Altcoin Scams to Watch Out for in 2021 • Benzinga (https://www.benzinga.com/money/altcoin-scams/)

These are Coinbase's biggest concerns about crypto-risks - AMBCrypto (https://ambcrypto.com/these-are-coinbases-biggest-concerns-about-crypto-risks/)

Madoff had this to say: "Everybody was greedy, everybody wanted to go on and I just went along with it.”

Bernie Madoff fathered the mother of Ponzi schemes - The Week (https://www.theweek.in/news/biz-tech/2021/04/16/bernie-madoff-fathered-the-mother-of-ponzi-schemes.html)

ribshaw
04-20-2021, 12:37 PM
Yeah, who does this?



Commentators on social media criticized EasyFi for using a hot MetaMask wallet for managing its smart contract.

EasyFi Hacked for Over $80 Million in MetaMask Attack | Crypto Briefing (https://cryptobriefing.com/easyfi-hacked-over-80-million-metamask-attack/)

Smells like vapor and fiat.



The team is planning to implement an EASY token hard fork to recover the lost funds.

ribshaw
04-22-2021, 11:28 AM
Certainly one explanation, albeit we've heard similar a thousand times before.




“Globally renowned banks and funds, whose names we are going to announce when the agreement process is completed, have been wanting to invest in our company and proposed a partnership for a long time. For this process to be completed, transactions need to be halted and the sale process needs to be completed.” Possible $2 Billion Scam By Turkish Crypto Exchange Thodex: Users Cry Out | Coinfomania (https://coinfomania.com/possible-2-billion-scam-by-thodex-users-cry-out/)

ribshaw
04-22-2021, 11:49 AM
What's not to like :RpS_wink:

#SAFEMOON

:mooning:



In selling shares of SafeMoon, the user, as well as other SafeMoon sellers, are reporting losses of over 50% upon withdrawals of the coin. Is the SafeMoon Crypto a Scam? 3 Insiders Weigh In on the Controversy | InvestorPlace (https://investorplace.com/2021/04/is-the-safemoon-crypto-a-scam-3-insiders-weigh-in-on-the-controversy/)




“So the developers just held AMA where nothing was answered except they had a rapper there who talked about Porsches.”

MoonSafe Code Audit Shows Suspicious Anomalies, Scam Confirmed? (https://www.newsbtc.com/news/moonsafe-code-audit-shows-suspicious-anomalies-scam-confirmed/)

As always the comments astound. I guess it will be a scam when the masses lose, as opposed to something created out of thin air to allegedly serve some higher albeit unnecessary function.

https://twitter.com/TheCryptoLark/status/1384664527229231107


The space seems like a house of cards with too much money chasing too many crappy coins.



more than 4,000 cryptocurrencies in existence as of January 2021
The 10 Most Important Cryptocurrencies Other Than Bitcoin (https://www.investopedia.com/tech/most-important-cryptocurrencies-other-than-bitcoin/)

ribshaw
04-23-2021, 12:04 PM
Wonder where he got this idea?




“But bitcoin, there’s no connection and, of course, the best strategy for investors is to own things that produce yields in the future. In other words, you can fall back on real dollars coming out of the company,” he said
Bitcoin a '''gimmick''' and resembles a Ponzi scheme: '''Black Swan''' author (https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html)



History has shown the best way to counteract this is to hold assets that throw off cash flow.
Is Bitcoin an imploding ponzi??... (https://realscam.com/f45/bitcoin-imploding-ponzi-4878/)

ribshaw
04-23-2021, 12:16 PM
Wow factor!!!



and which promised yields of approximately 28%.

But suddenly, the firm announced the freezing of accounts belonging to over 120,000 investors on September 12, 2020, due to an alleged “failure” in one of its crypto trading bots.

National Court of Spain Takes the Investigation of the Alleged Ponzi Crypto Scheme Arbistar – News Bitcoin News (https://news.bitcoin.com/national-court-of-spain-takes-the-investigation-of-the-alleged-ponzi-crypto-scheme-arbistar/)

Turkey detains dozens over alleged cryptocurrency fraud | New Straits Times (https://www.nst.com.my/world/world/2021/04/684774/turkey-detains-dozens-over-alleged-cryptocurrency-fraud)

Family reports Wentworth ‘Bitcoin trader’ missing | Witness (https://www.news24.com/witness/News/KZN/family-reports-wentworth-bitcoin-trader-missing-20210423)


Versus simple ways to invest where your CEO or Head Trader never take a runner???

ribshaw
04-23-2021, 12:31 PM
One thing is clear, anyone too levered up in the past week was wiped out.




BTC is below its 50-day moving average because of massive selling in BTC as a result of margin calls,” he stated.

“Once the hangover from the leveraged selling wears off, we expect BTC to recover back above the 50-dma and pull in buyers of all types,” said Noble.

“Bitcoin trending under the 50-day moving average is cause for concern since it has not traded beneath it since October 2020, but more context is needed,” he stated.

“If Bitcoin does not break upwards within the next few days we are likely headed down to the 100-day moving average

“In the past six months, the 50-day MA has been fairly reliable as an area of support. Recently, we saw BTC fail to sustain a breakout upwards, and then subsequently falling through the 50-day MA - a bearish set up.”

However, over the past four days, markets seem to be consolidating around this price level,” he noted.

“If there is a large further move down, I am looking at the 100-day MA (~$50k) as the next potential area of support,”

Bitcoin Recently Fell Through A Key Support Level—What's Next? (https://www.forbes.com/sites/cbovaird/2021/04/21/bitcoin-recently-fell-through-a-key-support-level-whats-next/?sh=c4aeebf44765)


Beyond that my takeaway from the article. If the price goes up it will go up, if the price goes down it will go down. Unless of course price stays flat, in which case it won't budge.

24658

Bitcoin (BTC) investors: You should know the story of the Hunt brothers and the silver market | Fortune (https://fortune.com/2021/04/15/bitcoin-btc-investment-silver-market-hunt-brothers-what-to-know-slv/)

ribshaw
04-26-2021, 01:05 PM
It's difficult for me to reconcile the title of this article without being a smart ass.




In four minutes, cyber looters pilfered $34,123 worth of virtual currency from a Virginia resident’s Coinbase (COIN) account, the 38-year-old told Yahoo Finance.

Ben notified Coinbase, which he said prompted a series of frustrating reply emails that appeared to have the hallmarks of bot

Still, two legal experts say the U.S. legal and regulatory system does little to compel Coinbase as well as other exchanges to adopt even stronger safeguards for consumer accounts or to refund stolen account assets. These practices stem from “absolutely horrible” laws, arbitration clauses, and virtually zero law enforcement, according to Max Dilendorf, a lawyer who represents cryptocurrency investors. “They don’t work. It’s just so frustrating,” he said. “I see cases where people lost life savings, then they knock on every possible door.”

Coinbase customers with hacked accounts get no justice from 'horrible' US laws: Fintech lawyer - Report Door (https://www.reportdoor.com/coinbase-customers-with-hacked-accounts-get-no-justice-from-horrible-us-laws-fintech-lawyer/)


Crypto is the free market solution to government fiat or so the story goes. Why then run to Big Brother when it gets gone?


https://www.youtube.com/watch?v=cx2Sps9aMcY

If you're going to play the game you need expect no help if rooked and therefore best spread your loot among many coffee cans as it were.






Last week, the SEC also issued warnings against the following: WONKACASH or WONKA Cash App Financial Consultancy Services, Investrade Marketing or Investrade Digital Marketing Services, Learn and Earn Online, CryptoTrading FX, 247 Cryptotrade Online, ExchangeStock, Binary Options Trading, Wolves Options, and IX Trade. SEC readies investor education unit as scam cases rise - BusinessWorld (https://www.bworldonline.com/sec-readies-investor-education-unit-as-scam-cases-rise/)



What crypto regulations does the U.S. already have?

Cryptocurrency CEO Sounds a Warning for Investors (https://www.fool.com/the-ascent/buying-stocks/articles/cryptocurrency-ceo-sounds-a-warning-for-investors/)

SEC.gov | Investor Alert: Watch Out for Fraudulent Digital Asset and “Crypto” Trading Websites (https://www.sec.gov/oiea/investor-alerts-and-bulletins/ia_fraudulentdigitalasset)

SEC.gov | Investor Alert: Watch Out For False Claims About SEC And CFTC Endorsements Used To Promote Digital Asset Investments (https://www.sec.gov/oiea/investor-alerts-and-bulletins/ia_secendorsements)

ribshaw
04-26-2021, 01:26 PM
Interesting story but I am having a hard time getting this journalist's numbers to add up. The way I read this is he's plowing 7% of his salary into BTC. A reasonably aggressive bet for a high income earner and hopefully not all he's investing.




Kansas City Chiefs player Sean Culkin will take the entirety of his 2021 base salary – $920,000 – in bitcoin.

The fifth-year tight end is the first National Football League player to be paid entirely in bitcoin. Offensive tackle Russell Okung, who famously followed through on his declaration to “pay me in bitcoin,” still takes half of his $13 million salary in fiat.

Chiefs Tight End Sean Culkin to Convert Entire NFL Salary Into Bitcoin (https://finance.yahoo.com/news/chiefs-tight-end-sean-culkin-124611612.html)





According to Sports Illustrated, nearly 4 out of 5 former NFL players either go bankrupt or suffer severe financial distress within two years of retirement.
https://www.gobankingrates.com/net-worth/sports/nfl-players-lost-millions/

ribshaw
04-27-2021, 01:00 PM
Good job Disaster Girl.



The account @3fmusic officially purchased the token for 180 Ether — worth about $430,000.
After years as a meme, ‘Disaster Girl’ takes control of her image — with a hefty payoff (https://www.yahoo.com/news/years-meme-disaster-girl-takes-094500082.html)




Someone is trying to prove that despite all the media frenzy about NFTs, they’re not as unique or secure as people think.

The Art of the Prank: How a Hacker Tried to Fake the World'''s Most Expensive NFT - CoinDesk (https://www.coindesk.com/digital-art-beeple-nfts-seizure)

ribshaw
04-27-2021, 01:12 PM
If you read about Michael Crawford in Forbes you probably don't read Forbes...




In a half-hour pitch video with more than 4 million views on Facebook, the graying Oregon-based actor plays “Michael Crawford,” CEO of a company called Quantum Code, who tells the audience he’s known as the “Wall Street Wizard” and the “Nicest Rich Guy in the World.”

Scam Theater: Inside an Online Trading Crime Ring That Grifted Millions from Mom-and-Pop Investors (https://gizmodo.com/scam-theater-inside-an-online-trading-crime-ring-that-1846761863)


https://www.youtube.com/watch?v=Uzw5_vR2l7s

ribshaw
05-05-2021, 12:36 PM
BCHG up 39% this week, ETCG up 132%, even LTCN up 54% and joke coins are raising millions from willing participants.




Founded as a joke

A $1000 bet on Dogecoin to start 2021 now tops the average US income (https://www.yahoo.com/finance/news/a-1000-bet-on-dogecoin-to-start-2021-now-tops-the-average-us-income-205203719.html)




Dre thought of creating a cryptocurrency called SCAM, its acronym is Simple Cool Automatic Money (Simply Cool Automatic Money). Even being such an obvious joke, the cryptoasset, which is worthless, has seen how its capitalization rose to 70 million dollars to quickly drop to 2.5 million dollars with 1,600 active wallets, as of this writing. The creator declared to be incredulous that this project got off the ground in this way and frankly admitted:

“I don’t know how to do any of this ****, I just made the coin as a joke”
Tiktoker creates joke cryptocurrency SCAM and raises millions of dollars – Explica .co (https://www.explica.co/tiktoker-creates-joke-cryptocurrency-scam-and-raises-millions-of-dollars.html)

The scammers could probably garner bigger stakes with something quasi honest like IDI:RpS_wink:T Coin.



Users were encouraged to buy a new token called WSB Finance on an account called “WallStreetBets – Crypto Pumps” on messaging service Telegram.
WallStreetBets Members May Have Lost Over $2M to Telegram Crypto Scam: Report - CoinDesk (https://www.coindesk.com/wallstreetbets-members-may-have-lost-over-2m-to-telegram-crypto-scam-report)




24662



It's better to be on the ground wishing you were the air, than in the air wishing you were on the ground.

11 Aviation Quotes That Could Save Your Life | Boldmethod (https://www.boldmethod.com/blog/lists/2018/12/11-aviation-quotes-that-could-save-your-life/)

ribshaw
05-06-2021, 12:11 PM
Made me chuckle...




By contrast, crypto is ‘just Easter bunny cartoon cash. I’ve read articles about it. I’ve had it explained to me. I still don’t get it, and neither do you’.

But the American dollar increasingly resembles Easter bunny cartoon cash. I’ve read articles about Modern Monetary Theory. I’ve had it explained to me. I still don’t get it, and neither do you.

https://www.spectator.co.uk/article/the-true-cost-of-make-believe-money

Sound familiar?



He was initially sceptical so, in late 2017, he sent $50 in Bitcoin as a test. A month later, he was sent back his $50 along with another $30 of so-called profit.

So, he sent hundreds of dollars. Then thousands. Then he started telling friends and family, who sent even more money.

"One of my best mates sold his car for $10,000, and put all that money in, and it disappeared," Jonathan says.

The crypto scam on Instagram that cost Jonathan and his friends $20k - ABC Everyday (https://www.abc.net.au/everyday/crypto-bitcoin-mining-scam-on-instagram/100016720)

ribshaw
05-06-2021, 01:15 PM
This blows me away...

Grayscale's bitcoin and Ethereum funds now generate as much revenue as Vanguard's 82 ETFs | Currency News | Financial and Business News | Markets Insider (https://markets.businessinsider.com/currencies/news/bitcoin-ethereum-grayscale-fund-same-revenue-vanguard-etfs-btc-eth-2021-5-1030386255)

April 10, 2021 $50 Billion AUM
Grayscale’s Net Assets Under Management Closes in on $50 Billion (https://finance.yahoo.com/news/grayscale-net-assets-under-management-165323766.html)

January 31, 2021 $7.2 Trillion AUM
Fast facts about Vanguard (https://about.vanguard.com/who-we-are/fast-facts/)

Huge fan of Index Investing Definition (https://www.investopedia.com/terms/i/index-investing.asp) and if you're going to HODL fees matter.



Here's why this is so important. Let's say you invest $10,000 per year, and that your investments earn an average total return of 7% each year, before expenses. If you pay total fees of 1% (advisory plus fund expenses), you can expect to have a nest egg of about $1,114,000 after 30 years. On the other hand, if you pay total fees of 2%, your investments would build up to $903,000 -- a full $211,000 less. Paying higher fees can literally cost you hundreds of thousands of dollars.
Don't Let Fees Destroy Your Investment Returns | The Motley Fool (https://www.fool.com/retirement/2017/11/13/dont-let-fees-destroy-your-investment-returns.aspx)

As more participants enter the game, fees should plummet. Of course if investments go up 100% give or take in a week, what's a piddling 2-3% management fee?

Slightly under-priced priced based on NAV.

Holdings per share 5/5/2021 $79.05 Market Price $67.15

https://grayscale.com/products/grayscale-ethereum-classic-trust/

3X holding per share.

Holdings per share 5/5/2021 $10.87 Market Price $38.38
https://grayscale.com/products/grayscale-bitcoin-cash-trust/

10X-Crazy Town.
Holdings per share 5/5/2021 $30.97 Market Price $374.99

https://grayscale.com/products/grayscale-litecoin-trust/



Recently there have been some significant divergences in % decreases/ increases between crypto stocks and crypto coins. I know which way this dinosaur dances when this happens with liquid option-able assets. Will have to remain glued to my chair on the sidelines waiting for them to resolve in the crypto space.




Only buy cryptocurrencies if you're prepared to lose all your money, Bank of England governor says
https://markets.businessinsider.com/currencies/news/cryptocurrencies-bitcoin-dogecoin-risks-lose-money-bank-of-england-andrew-bailey-1030396958

ribshaw
05-10-2021, 04:39 PM
Reminds me of Bre-X - Wikipedia (https://en.wikipedia.org/wiki/Bre-X).




And in fact, that the wallets had empty for about eight months, before Gotten even left on his honeymoon.
He took $180 million in crypto to the grave. Or did he? A Q&A with the host of 'Exit Scam.' (https://mashable.com/article/quadrigacx-exit-scam-podcast-interview/)


$215,000,000 missing: Mysterious death of the CEO of Canada’s largest cryptocurrency firm explored in documentary (https://sg.news.yahoo.com/dead-man-switch-cryptocurrency-quadrigacx-gerald-cotten-crime-233308013.html)

ribshaw
05-10-2021, 05:31 PM
�� The Second Mouse Gets the Cheese �� [Idiom] - MyEnglishTeacher.eu - MyEnglishTeacher.eu Blog (https://www.myenglishteacher.eu/blog/the-second-mouse-gets-the-cheese/)

I must confess over the weekend I was temped to make my first crypto speculation.

On Friday https://grayscale.com/products/grayscale-ethereum-classic-trust/ reported holdings per share of $115.40 but closed at a price of $56.59. It was like a bag of money sitting in the corner just waiting to be scooped up, or was it?

Two things held me back:

First I still don't get the investment/asset side of Crypto. Oh the block chains are remarkable for this and that, or so everyone says. What stops me from crtl-c on my keyboard and taking all the blocks I need??? Well not me personally, but someone a wee bit more savvy.

No easy way to hedge the NAV difference. Nor on my brief review do I believe Grayscale exchanges trust units for Ethereum.


So that left me with chasing momentum!

Ethereum is going up so I'll hop on for the ride. Something I'm loathe to do with things I don't get and don't really want to get. And really only the notion of buying a buck for fifty cents caught my eye. With a hedge in place I could sit on that trade for a while. If I had a way to sell Ethereum and buy ETCH I probably would to lock in the "risk free profit" not really caring what it does. Without a hedge it's little more than a crap shoot.


Of course I wasn't the only one that noticed the bag of money just laying there GRAYSCALE ETHEREUM CLASSIC TR E (ETCG) Stock Forum & Discussion - Yahoo Finance (https://finance.yahoo.com/quote/ETCG/community?p=ETCG) .


While Ethereum the coin traded up; ETCH opened at $89 Friday and closed around $56 and today it opened at $64 and closed around $47. Bag alright.

This article might explain what is going on Ethereum Classic Demand Steady as Traders Cover Positions - CoinDesk (https://www.coindesk.com/ethereum-classic-fundstrat-demand).



24663

I'll reiterate this is not an investment but a scam site. I'll also reiterate what I said previously; Wall Street dumps a lot of garbage on the public often at the worst possible time. Don't rely on internet savants to read you in...



Can anyone explain to me why the stock is dropping so much when ETH is going up?

This should be investigated by the SEC. 40 % loss on Friday and 15% loss today (so far). This trust has no correlation to ETC's daily percentage changes.

? OK guys I just sold my long for a big #$%$ loss. If I?m an indicator it would probably be time to buy it?

ribshaw
05-13-2021, 11:30 AM
Let's party like it's 1933.




Binance Global exchange halted withdrawals Monday in a “temporary suspension” that affects all its users, as did other exchanges such as Coinbase. It’s not uncommon for exchanges to have downtime or freeze withdrawals at times of hot market activity.

Many of the affected Binance users flagged for “risk management” and anti-money laundering (AML) hold accounts that are fully verified; given that know-your-customer (KYC) verification process is a risk management process to prevent money laundering, Binance’s stated purpose for freezing these accounts leaves unanswered questions.
‘So many people locked out’

Binance declined an interview with CoinDesk to discuss these issues, but the CEO issued a statement that chalked the problem up to “compliance issues” and anti-money laundering risk factors.

‘So Many Locked Out’: Binance Users Say Their Accounts Have Been Frozen for Months (https://finance.yahoo.com/news/many-locked-binance-users-accounts-200452740.html?.tsrc=fp_deeplink)


Banking Crisis of 1933 | Encyclopedia.com (https://www.encyclopedia.com/history/encyclopedias-almanacs-transcripts-and-maps/banking-crisis-1933)

ribshaw
05-13-2021, 11:50 AM
It's hard to fathom something like this effecting the nation's infrastructure doesn't raise some eyebrows.

Colonial Pipeline Paid Almost $5M Crypto Ransom Soon After Attack: Report (https://finance.yahoo.com/news/colonial-pipeline-paid-almost-5m-151208676.html)

Then again these idiots lost control of 143M files...

Equifax Says Cyberattack May Have Affected 143 Million in the U.S. - The New York Times (https://www.nytimes.com/2017/09/07/business/equifax-cyberattack.html)

While these idiots awarded them a contract to fix fraud their negligence helped create.



IRS awards multimillion-dollar fraud-prevention contract to Equifax

The no-bid contract was issued last week, as the company continued facing fallout from its massive security breach.
IRS awards multimillion-dollar fraud-prevention contract to Equifax - POLITICO (https://www.politico.com/story/2017/10/03/equifax-irs-fraud-protection-contract-243419)

ribshaw
05-13-2021, 12:35 PM
BTC $46,375.90 the day this story printed.
Tesla buys $1.5 billion in bitcoin, plans to accept it as payment (https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html)

BTC $48,335.98 as I type.
Tesla Halts Use of Bitcoin for Purchases, CEO Elon Musk Tweets | Technology News (https://gadgets.ndtv.com/transportation/news/tesla-bitcoin-payment-stop-halt-elon-musk-tweet-twitter-cryptocurrency-mining-environment-dogecoin-2440682)

Meanwhile instead of approving transparent liquid products that might protect consumer the SEC pontificates what everyone should know by now.

SEC Staff Calls Bitcoin ‘Highly Speculative,’ Hints at ETF Skepticism (https://finance.yahoo.com/news/sec-staff-calls-bitcoin-highly-225614519.html)

ribshaw
05-14-2021, 10:39 AM
Trading on tweets is pure speculation, holding on the hope of just the right tweet gambling. Play accordingly.

Musk's comments on Bitcoin were a "four-dimensional chess move" (https://finance.yahoo.com/video/musks-comments-bitcoin-were-four-010125429.html)


“Never play chess with a pigeon

The pigeon knocks over all the pieces

Shits all over the board

Then struts around like it won.”

ribshaw
05-14-2021, 11:36 AM
The stock/option markets are fairly but not perfectly efficient. Occasionally option traders will think they have found free money with various spreads. One of three things usually will happen:

1. The order won't get filled.
2. They will be assigned on the short leg of the trade and the cost to borrow will eat up that free money.
3. They will be assigned on the short leg of the trade and have to pay a dividend that will eat up that free money.

Sometimes you can't afford free.

But this is crypto which is still a young and more inefficient market.




Accredited investors (usually big institutional players or wealthy people) could profit from buying into GBTC at the trust’s net asset value (NAV). They were subject to a lockup period of six months, but after that, they could then sell their shares for a profit in the open market – locking in any gains from bitcoin as well as capturing the premium as an extra kicker. The 20%-50% GBTC premium also could offset the risk from any potential declines in bitcoin’s price.

Of course, this “Grayscale trade” wasn’t available to retail traders.

Another short-term or medium-term risk is that the GBTC discount widens from current levels.

Record ‘Grayscale Discount’ Might Mean Bargain Bitcoin for Retail Traders (https://finance.yahoo.com/news/record-grayscale-discount-might-mean-130730647.html)

One thing that's often talked about by some in SLV and GLD which are structured like GBTC but hold physical metals sliver and gold is that there really isn't any metal backing them. Or they are only partially backed by metal. DUNNO???

A short medium and long term risk in GBTC is that the coins don't really exist in full or that they go missing. Another risk is the price collapses and the discount to NAV discount closes that way. DUNNO???

LTCN thus far remains the opposite. I'm sure there are people that bankrupted themselves waiting for this premium to close.

LTCUSD | Litecoin USD Advanced Charts | MarketWatch (https://www.marketwatch.com/investing/cryptocurrency/ltcusd/charts?mod=mw_quote_advanced)


Do your own homework; and as always relying on tweets, talking heads, or influencers usually ends up a hard way to make a quick buck.

ribshaw
05-17-2021, 11:38 AM
Some days you da windshield other days the bug.




STOPELON, an altcoin created yesterday, has broken records in the past few hours as the crypto world seems to have turned en masse against Elon Musk, the CEO of Tesla (NASDAQ:TSLA) and a novice influence in the crypto sphere.

STOPELON Coin Explodes Through the Roof as It Aims To Wrest Control of Tesla (TSLA) Away From Elon Musk (https://wccftech.com/stopelon-coin-explodes-through-the-roof-as-it-aims-to-wrest-control-of-tesla-tsla-away-from-elon-musk/)

Market Cap: $2,750,157
Just a moment... (https://poocoin.app/tokens/0xd83cec69ed9d8044597a793445c86a5e763b0e3d)




Slightly more civil than the F-Elon coin with a Market Cap of $6,470,129 as I type.
Just a moment... (https://poocoin.app/tokens/0xd2602dbb063627b80d5ae671007900f558c49e35)

ribshaw
05-17-2021, 11:52 AM
I'm still not seeing taking the risk of stealing when you can just create a catchy coin and have people willingly send you millions.




“Compared to the same period a year earlier, that’s about 12 times the number of reports and nearly 1,000% more in reported losses,” the FTC wrote in a separate blog post

FTC to Consumers: Be Careful, Cryptocurrency Scams Are Booming | PCMag (https://www.pcmag.com/news/ftc-to-consumers-be-careful-cryptocurrency-scams-are-booming)


Scammers are stealing funds from crypto-newbs (https://www.computing.co.uk/news/4031419/scammers-funds-crypto-newbs)

ribshaw
05-18-2021, 11:26 AM
It could happen to anyone...

traders buying ethan allen instead of etherum - Google ፍለጋ (https://www.google.com/search?client=firefox-b-1-d&q=traders+buying+ethan+allen+instead+of+etherum)

Stimmy bucks hard at work.

Ethan Allen Interiors Inc. (ETH) Stock Forum & Discussion - Yahoo Finance (https://finance.yahoo.com/quote/ETH/community?p=ETH)

ribshaw
05-19-2021, 11:45 AM
I sincerely hope people made plans for routs like today beyond a Musk tweet. About that...



Musk says Tesla has 'diamond hands'
Cryptocurrency prices continue to tumble as bitcoin falls below $35,000 (https://finance.yahoo.com/news/bitcoin-price-19-may-dogecoin-ethereum-elon-musk-cryptocurrency-080343749.html)



“To clarify speculation, Tesla has not sold any Bitcoin,” Musk said in a tweet.

Elon Musk clarifies that '''Tesla has not sold any Bitcoin''' (https://www.cnbc.com/2021/05/16/elon-musk-suggests-tesla-is-dumping-bitcoin.html)



Tesla Sold Some of Its Bitcoin for $272M in Q1, Still Holds $2.48B of BTC - The Street Crypto: Bitcoin and cryptocurrency news, advice, analysis and more (https://www.thestreet.com/crypto/bitcoin/tesla-sells-some-bitcoin)

ribshaw
05-19-2021, 12:03 PM
I'd wager $2M in Elon impersonator scam losses pales in comparison to the amount people blindly following Musk's tweets on BTC and DOGE have lost. With some probably choking on a slug of the $272M BTC Tesla was selling.

Over $2 Million Crypto Currencies Stolen By Elon Musk’s Impersonators - TechStory (https://techstory.in/over-2-million-crypto-currencies-stolen-by-elon-musks-impersonators/)

Even $80M feels light with the money some people eagerly gave up in coins they couldn't explain beyond it's going up.

Cryptocurrency Scams Bilk Victims Out Of $80 Million (https://finance.yahoo.com/news/cryptocurrency-scams-bilk-victims-80-161959078.html)

ribshaw
05-20-2021, 01:31 PM
A young bull and an old bull are standing on a hill when the young bull says...



Amid the market-wide risk aversion, exchanges offering crypto futures have liquidated $8 billion worth of positions, according to data source bybt.com. Bitcoin futures account for almost 50% of the total market-wide liquidations.

Total liquidations seen in the past 24 hours, however, are still short of the record $10 billion worth of forced closures observed on April 17, when bitcoin fell sharply from $60,000. Since then, the market has mostly seen daily liquidations of less than $4 billion, barring today’s brief spike. Bitcoin Drops Below $31K Before Rebounding; $8B in Liquidations Triggered (https://finance.yahoo.com/news/bitcoin-drop-below-40k-triggers-121931719.html?.tsrc=fp_deeplink)

Where might something like this happen again when some news hits that scares the buy the F-dip crowd into pulling their bids? Golly that's a tough one.

Margin debt hit another record high in March to top $822 billion, according to FINRA data | Markets Insider (https://markets.businessinsider.com/news/stocks/finra-margin-debt-hit-another-record-march-topping-822-billion-2021-4-1030330216)

ribshaw
05-25-2021, 12:09 PM
Herein lies a major problem too many people put themselves in when speculating...

Scam That Wasn’t: DeFi100 $32 Million Cryptocurrency Scam Was Fake News And Website Was Hacked (https://www.news18.com/news/tech/scam-that-wasnt-defi100-32-million-cryptocurrency-scam-was-fake-news-and-website-was-hacked-3770117.html)

If you have to turn to a random maybe even anonymous website, Facebook type group, or your good horseshoeing buddy Bill to find out about your investment you have put your money in jeopardy.


People making sound investing decisions don't ever have to be told what or how much they bought.



@DEFI100
·
May 23
1/2 Firstly, Total supply of D100 at present is less than 4 million tokens. At the beginning of the project, total supply was 2.5 million Tokens.
Secondly, D100 was never a yield farming protocol which was holding investors funds with TVL over 32 million.

https://twitter.com/DEFI100

What is the truth in this case I can't say.

ribshaw
05-28-2021, 12:51 PM
Bitcoin price news LIVE - New DubaiCoin rises 1,000% in just 24hrs defying cryptocurrency market slump and Ethereum fall (https://www.the-sun.com/lifestyle/tech/2961652/bitcoin-price-news-live-dubaicoin-ethereum-cryptocurrency-dogecoin-updates/)

And it's gone.

Fake DubaiCoin Cryptocurrency Tanks After Government Denies Official Approval - UNILAD (https://www.unilad.co.uk/technology/fake-dubaicoin-cryptocurrency-tanks-after-government-denies-official-approval/)

ribshaw
05-28-2021, 01:02 PM
Two Three things about this:

1. It was registered with the SEC
2. They aren't taking lunch money and couch change from 500,000 little investors.
3. It wasn't solicited on social media by unlicensed cryto specialists and ladies in your cross stitching clique.



Some 83 investors pooled their bets (at a minimum of $50,000 each) for a total raise of $102,350,437, the Securities and Exchange Commission (SEC) filings show.

Fidelity Bitcoin Fund Attracts $102M in First 9 Months (https://www.yahoo.com/entertainment/fidelity-bitcoin-fund-attracts-102m-200345900.html)

As always just because Wall Street is pitching it doesn't mean you should invest, nor however do you have to be a dupe with your money.

ribshaw
06-01-2021, 11:53 AM
Has anyone in history been quoted so much while saying so little?




“Bitcoin crashing. Great news,” tweeted “Rich Dad, Poor Dad” author Robert Kiyosaki on Sunday, saying it provides a good buying opportunity. “When price hits $27,000 I may start buying again. Lot will depend upon global-macro environment. Remember the problem is not gold, silver, or Bitcoin. Problem are the incompetents in government, Fed & Wall Street. Remember gold was $300 in 2000.”

In April, Kiyosaki predicted in an interview that bitcoin’s price would top $1 million in the next five years. Still, he said he prefers gold and silver as an investment, calling it “God’s money.”

Bitcoin is headed toward its worst month since 2011; ‘Rich Dad, Poor Dad’ author says that’s ‘great news’ - MarketWatch (https://www.marketwatch.com/story/bitcoin-is-headed-toward-its-worst-month-since-2011-rich-dad-poor-dad-author-says-thats-great-news-11622416485?siteid=yhoof2)

Why buy Bitcoin on a maybe at $27k if it's going to hit $1M in five years??? Why buy BTC at all if Kiyosaki prefers gold and silver as an investment? I remember years back when people went hunting for Rich Dad, and then they went looking for Kiyosakis real estate, the only thing I think anyone ever found was his apparent failure in Amway. And by failure I mean as a distributor not a book peddler.




Bill Galvin, found Kiyosaki's book, Rich Dad, Poor Dad, at a car wash before it was published. In fact, Kiyosaki had trouble getting published. ... In addition to the above, Kiyosaki joined Amway under Bill Gavin, but it appears he was a failure at it.

Robert Kiyosaki and Multi-Level Marketing Exposed! - Lazy Man and Money (https://www.lazymanandmoney.com/robert-kiyosaki-and-multi-level-marketing-exposed/)

https://realscam.com/f11/robert-kiyosaki-rich-dad-secrets-109/?highlight=robert+kiyosaki

https://realscam.com/f37/author-rich-dad-poor-dad-files-bankruptcy-1667/?highlight=robert+kiyosaki

https://realscam.com/f34/stupid-theories-robert-kiyosaki-643/?highlight=robert+kiyosaki

ribshaw
06-07-2021, 12:46 PM
Speculation based on news, tweets, or a deal you were pitched on Facebook isn't investing. More like a game of musical chairs at your friend's birthday party, only not a party not your friends and your wallet gets pulled when the music stops.




“Millions of retail investors were really counting on their crypto gains to improve their lives,” a Guy Fawkes-masked figure said in the video. “Of course, they took the risk upon themselves when they invested, and everyone knows to be prepared for volatility in crypto, but your tweets this week show a clear disregard for the average working person.”

Elon Musk’s crypto tweets have ‘destroyed lives,’ says video purportedly from Anonymous - MarketWatch (https://www.marketwatch.com/story/elon-musks-crypto-tweets-have-destroyed-lives-says-video-purportedly-from-anonymous-11623019100?siteid=yhoof2)

ribshaw
06-08-2021, 12:12 PM
How sensible is it to put yourself in a heads they win, tails you lose but they still win investing situation?

Maybe Saylor walks away from his BTC purchases looking like a genius, maybe he slinks away a fool. According to Just a moment... (https://fintel.io/so/us/mstr/saylor-michael-j) he owns 23.7% of MSTR shares which aint nothing. If he's so pot committed to BTC I ask myself why not pledge his shares and take a loan to buy BTC for his own account? Too much money chasing Senior Secured Sorta Kinda Secured-ish Debt may prove a viable answer.



MicroStrategy, a $4.6bn bitcoin asset gatherer masquerading as a tech company, is doing what every gambler is warned against doing: doubling down. After chief executive and large boat enthusiast Michael Saylor spent the weekend at the bitcoin conference in Miami not being a bro, the company announced Monday that it was, you guessed it, raising $400m of senior secured debt to add to its stash of 92,079 bitcoins. The debt will be secured against MicroStrategy’s assets, excluding its current bitcoins and digital assets, which have been parked in a vehicle named MacroStrategy LLC (somewhat ironically, given the seeming lack of macro strategy, or of any strategy at all).
https://finance.yahoo.com/m/4a6e0cb3-e902-3ef0-93ff-68d2094999ed/microstrategy-doubles-down.html]



I do know this. If I wanted to invest in Bitcoin, I would buy Bitcoin. If I wanted to invest in software stocks, I would find one or two with growing sales and invest in them. I would not invest in MicroStrategy with my money and I could not recommend that you do so with yours. I Have Rarely Wanted to Buy a Stock Any Less Than MicroStrategy - RealMoney (https://realmoney.thestreet.com/investing/i-have-rarely-wanted-to-buy-a-stock-any-less-than-microstrategy-15678518?puc=yahoo&cm_ven=YAHOO)




Back of the envelope

Yet, it should be noted that while MicroStrategy bought bitcoin at $24,063, which now looks like a bargain, it’s a different story for anyone buying MSTR stock now.

The company’s market cap is now about $7.2 billion. As of March 2, $4.4 billion of its assets were in bitcoin. Around the time it first announced its bitcoin buys, MicroStrategy’s market cap was just $1.3 billion. To buy all that bitcoin it now owns, the company at first used some cash, somewhere to the tune of around $425 million. In recent months, it has issued a total of $1.7 billion in convertible notes that, if turned to equity, could add a couple million shares to the nearly 10 million already outstanding (that’s another discussion).

How to Buy Bitcoin at an 80% Premium From Michael Saylor - CoinDesk (https://www.coindesk.com/microstrategy-bitcoin-michael-saylor-valuation)

ribshaw
06-08-2021, 12:21 PM
I wonder who they might have been selling to?

Wealth manager Ruffer exited $1.1 bitcoin bet amid worries over risk (https://finance.yahoo.com/news/wealth-manager-ruffer-exited-1-115905734.html)

Cryptocurrency trading is stopping people from looking for full-time jobs: CareerBuilder CEO (https://finance.yahoo.com/news/crypto-side-money-keeping-workers-from-seeking-full-time-gigs-career-builder-ceo-152104326.html)

ribshaw
06-09-2021, 10:42 AM
Followers of RealScam missed out on all this fun...



Consumers reported losing nearly $82 million to crypto scams during the fourth quarter of 2020 and first quarter of 2021, more than 10 times the amount from the same six-month period a year earlier, according to the Federal Trade Commission.

Crypto Frauds Target Investors Hoping to Cash In on Bitcoin Boom - WSJ (https://www.wsj.com/articles/crypto-frauds-target-investors-hoping-to-cash-in-on-bitcoin-boom-11623058380)

ribshaw
06-09-2021, 10:54 AM
A kindred spirit.




If you’d like to invest, you have to accept that it’s not a get-rich-fast but a get-rich-slow activity. Once she heard “slow,” I think she lost interest in whatever advice I had to offer.

Opinion | Investing in Cryptocurrency Is No Better Than Gambling | Barron's (https://www.barrons.com/articles/why-i-am-a-crypto-curmudgeon-51623184688?siteid=yhoof2)

ribshaw
06-09-2021, 10:55 AM
Who could have seen the vanishing act coming? It's not as if these days you can just parrot meaningless tripe and people will willingly cough up millions.



LUB token, a new cryptocurrency that is currently shaking up the market

The LUB token is the first cryptocurrency that can be traded directly on the increasingly popular Telegram messenger service. LUB is conquering this 500,000-million-member marketplace, making it a pioneer in an industry already full of innovation.

LUB is an ERC-20 token that is generated via the well-known and secure Ethereum blockchain

LUB - First Crypto Exchange Inside Telegram (https://www.newsbtc.com/news/company/lub-first-crypto-exchange-inside-telegram/)

ribshaw
06-25-2021, 10:46 AM
If you give a bunch of money to a bunch of kids a bunch of times...



However, shortly after the so-called hack, Africrypt’s founders – 20-year-old Ameer Cajee and 17-year-old Raees Cajee – allegedly transferred the pooled investor funds from an account at Johannesburg-based First National Bank (FNB) and disappeared to the U.K. Founders of South African Crypto Investment Firm – and $3.6B in Bitcoin – Are Missing - CoinDesk (https://www.coindesk.com/founders-of-south-african-crypto-investment-firm-along-with-3-6b-in-bitcoin-are-missing)

However, the government’s ability to investigate the matter is constrained by the lack of regulatory framework on digital assets in South Africa, which does not consider cryptocurrencies a financial product.



Less sweaty than robbing stagecoaches this new paradigm in money.



Here I lay me down to sleep
To wait the coming morrow,
Perhaps success, perhaps defeat,
And everlasting sorrow.
Let come what will, I'll try it on,
My condition can't be worse;
And if there's money in that box
'Tis munny in my purse.
Black Bart (outlaw) - Wikipedia (https://en.wikipedia.org/wiki/Black_Bart_(outlaw))

ribshaw
06-25-2021, 11:29 AM
Corporate is going mad about buying, volume and therefore liquidity is through the roof.
Wall street has entered the game.


The fund below comprising a basket of "crypto" stocks reached it's high current high print of $37 on the first day it was dumped sold publicly. Right now it's at $24.




Fund Description

VanEck Vectors Digital Transformation ETF (the “Fund”) seeks to track as closely as possible, before fees and expenses, the price and yield performance of the MVIS Global Digital Assets Equity Index (the “Index”), which is intended to track the performance of companies that are participating in the digital assets economies. https://www.vaneck.com/us/en/investments/digital-transformation-etf-dapp/




It was indeed foolish to miss a 1000% return. I mean do you guys hate money or what?
Don't make the same mistake twice.
At least get some Bitcoin and ETH.

ETH Price $1368.90 1/24/2021
ETH Price $1829.95 Today

BTC Price $32,285.73 1/24/2021
BTC Price $32,641.88 Today



Sure, I'm the moron. See you at $100,0000

I'm going to give Sally a lot of credit since ETH rose to $4K and BTC $64K after his insult filled tirade-ical homecoming. If people had bought Sally's witty return and sold shortly thereafter they would have netted a tidy return. Now prices are back to a tittle more than when he briefly drove by to regale us with wisdom. What now brown cow? Buy, Sell, Hold? Sally?

A major problem it can become investmenting/trading on advice absent one's own well constructed plan.



I'm gonna have so much fun when I return to serve a tall glass of "I told you so".

Will this be served with one of those F*&KING cardboard straws?