CryptoCoinsInfoClub.com

Cryptocurrency

The Rise Of Cryptocurrency Ponzi Schemes

The Rise Of Cryptocurrency Ponzi Schemes

Scammers are making big money off people who want in on the latest digital gold rush but dont understand how the technology works. A Bitcoin ATM at a shopping mall in Sydney, Australia David Gray / Reuters Last month, the technology developer Gnosis sold $12.5 million worth of GNO, its in-house digital currency, in 12 minutes. The April 24 sale, intended to fund development of an advanced prediction market, got admiring coverage from Forbes and The Wall Street Journal . On the same day, in an exurb of Mumbai, a company called OneCoin was in the midst of a sales pitch for its own digital currency when financial enforcement officers raided the meeting , jailing 18 OneCoin representatives and ultimately seizing more than $2 million in investor funds. Multiple national authorities have now described OneCoin, which pitched itself as the next Bitcoin, as a Ponzi scheme; by the time of the Mumbai bust, it had already moved at least $350 million in allegedly scammed funds through a payment processor in Germany. These two projectsone trumpeted as an innovative success, the other targeted as a criminal conspiracyclaimed to be doing essentially the same thing. In the last two months alone, more than two dozen companies building on the blockchain technology pioneered by Bitcoin have launched what are known as Initial Coin Offerings to raise operating capital. The hype around blockchain technology is turning ICOs into the next digital gold rush: According to the research firm Smith and Crown, ICOs raised $27.6 million in the first two weeks of May alone. Unlike IPOs, however, ICOs are catnip for scammers. They are not formally regulated by any financial authority, and exist in an ecosystem with few checks and balances. OneCoin loudly trumpeted its use of blockchain technology, but Continue reading >>

Gdpr: A Game Changer Is Coming For Cryptocurrency

Gdpr: A Game Changer Is Coming For Cryptocurrency

GDPR: A Game Changer Is Coming for Cryptocurrency Join our community of 10 000 traders on Hacked.com for just $39 per month. The EU has finally come out with an approved framework for how corporations should handle user data. Although this are quite good news for people generally, I can also see it as a massive blow for so many altcoins. Trust me when I say there is an enormous storm coming. There are many important rules companies must follow starting from June 2018, that will actively protect customers against corporations data theft and abuse (ie, selling your data without your consent or creating complicated terms and agreements most users do not fully understand). I advise you to read through the whole thing especially if you (like me) work in IT, are responsible for an IT department or have your own startup; but theres one single point I believe to be most destructive for many cryptocurrencies: Yes indeed, each user has the right to be forgotten, meaning, all user data should be able to get permanently deleted. Lets say if I chose to delete my facebook account, anything I have ever posted, commented, liked, etc has to disappear. It does seem simple when you own your own infrastructure, but due to one of the most important properties of blockchain technology being its immutability , you can already see the problem bubbling up. Any platform that uses a distributed ledger to store user data (blockchain, ethereum) is, by all means, screwed. There is absolutely no way around this. What if companies just ignore this new enforcement? Well, the fine is only 4% of your companys revenue, up to 20 Million Euros. So if you have invested in a project, own a project or are generally interested in better understanding how this market will evolve, please do pay attention to the Continue reading >>

The Risks Of Investing In Cryptocurrency | Fortune

The Risks Of Investing In Cryptocurrency | Fortune

2017 Time Inc. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy ( Your California Privacy Rights ). Fortune may receive compensation for some links to products and services on this website. Offers may be subject to change without notice. Quotes delayed at least 15 minutes. Market data provided by Interactive Data . ETF and Mutual Fund data provided by Morningstar , Inc. Dow Jones Terms & Conditions: . S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions . Powered and implemented by Interactive Data Managed Solutions . Continue reading >>

Cryptocurrencies News

Cryptocurrencies News

A cryptocurrency is any kind of peer-to-peer digital money powered by the Blockchain technology. Since Bitcoin's appearance in 2009, hundreds of new cryptocurrencies (often called altcoins) have been created, all of which offer different advantages and disadvantages compared to Bitcoin. The Blockchain itself is based on the principles of cryptography, hence the name "cryptocurrencies". Continue reading >>

Cryptocurrency: How It Will Look In The Future | Money

Cryptocurrency: How It Will Look In The Future | Money

The cryptocurrency market, which trades various digital-based coins, can look exciting, scary, and mysterious all at once to the casual observer. Its pioneer, Bitcoin, dramatically surged in value and steeply dropped (before picking back up) in recent months. ICOs (initial coin offerings for new cryptocurrencies), meanwhile, are emerging at a head-spinning rate. While some financial advisers remain skeptical, its hard to ignore the massive amount of money invested in the field. We talked to two leading futurists, who study and predict technology trends, about where they see cryptocurrency headedand why you should pay attention. Cryptocurrency Will Replace National Currencies by 2030. Cryptocurrency is very much here to stay, said futurist and author Thomas Frey , noting that hes speaking to the Federal Reserve in September on the topic. He predicts that cryptocurrencies are going to displace roughly 25% of national currencies by 2030. Theyre just much more efficient, the way they run. The rise of cryptocurrencies over the past couple years represents the legitimization of a new asset class emerging alongside the traditional global economy, according to Dr. James Canton of the Institute for Global Futures . Id say you can expect an exponential increase of new investment vehicles to come from cryptofinance. Some money will be lost in the cryptocurrency market, to be sure, but Canton believes theres also possibility to earn vast riches. Cryptocurrency is in some ways a misnomer. Tied to a secure blockchain on the internet, a digital coin is free of the relationships to nations that traditional currencies have. Canton likes to call it the blockchain economy. The IRS currently treats cryptocurrencies as property, rather than actual currency. Bitcoin is a lot like selling re Continue reading >>

Cryptocurrency Is Coming To Gaming

Cryptocurrency Is Coming To Gaming

As the resident cryptocurrency nerd at PCG, it fell to me to try and make some sense of what all the blockchain for gaming hype is about. There were a couple of sessions today on cryptocurrency in games , with the subtext that this is a new approach to virtual world economics. I spoke with a few of the people involved, and here's what I learned. One of the difficulties with games on an international level is figuring out how to accept payments from all the various currencies. Platforms like Steam handle most of that for the developers, but what happens if you want to build in ways for players to perform trades with each otherand specifically, trades that have some real financial value? Player one in the US wants to receive dollars, not Euros or Pounds or Yen. Player two in the UK wants to pay in Pounds, not Rubles or Pesos or Won. What if you could facilitate all transactions with a third currency? That's where cryptocurrencies come into the picture. It's not just about trades and transactions, though. Another purpose for using cryptocurrencies built into a gameor a game enginewould be to potentially acquire more players. The difficulties of getting your game noticed in the Steam marketplace might be alleviated by paying people to play your game. It's the next step in free-to-play: get paid to play! You can even create contracts so that players don't just need to install a game, but they need to accomplish certain goals: play for a certain amount of time, reach a certain level, or find some special item. You could incentivize people to keep playing. Obviously there still needs to be a way to monetize things beyond that, but whatever. (Yeah, that's a big whatever.) It's no simple matter to integrate the blockchain technologies into a game, and it needs to be done in a w Continue reading >>

Cryptocurrency - Wikipedia

Cryptocurrency - Wikipedia

HitBTC cryptocurrency exchange terminal window A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions, to control the creation of additional units, and to verify the transfer of assets. [1] [2] [3] Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies . Bitcoin , created in 2009, was the first decentralized cryptocurrency. [4] Since then, numerous cryptocurrencies have been created. [5] These are frequently called altcoins, as a blend of bitcoin alternative. [6] [7] [8] Bitcoin and its derivatives use decentralized control [9] as opposed to centralized electronic money / central banking systems. [10] The decentralized control is related to the use of bitcoin's blockchain transaction database in the role of a distributed ledger . [11] Decentralized cryptocurrency is produced by the entire cryptocurrency system collectively, at a rate which is defined when the system is created and which is publicly known. In centralized banking and economic systems such as the Federal Reserve System , corporate boards or governments control the supply of currency by printing units of fiat money or demanding additions to digital banking ledgers. In case of decentralized cryptocurrency, companies or governments cannot produce new units, and have not so far provided backing for other firms, banks or corporate entities which hold asset value measured in it. The underlying technical system upon which decentralized cryptocurrencies are based was created by the group or individual known as Satoshi Nakamoto . [12] As of September 2017 [update] , over a thousand cryptocurrency specifications exist; most are simil Continue reading >>

Cryptocurrency News And Discussions.

Cryptocurrency News And Discussions.

Lead by example and treat others as you would wish yourself to be treated. No Trolling. Do not make random unsolicited and/or controversial comments with the intent of baiting or provoking unsuspecting readers to engage in hostile arguments. Trolling, in all its forms, will lead to a suspension or permanent ban. Do not waste people's time. It's the most valuable resource we have. See our Expanded Rules wiki page for more details about this rule. To mitigate abuse from throwaway accounts, a minimum of 20 comment karma & 10-days account age is required for participation. Referral links/codes, URL shorteners, or ads for commercial offerings. No low-effort content typically characterized by low character count, all caps, & banal wording. Example: "SELL SELL SELL!!!", "BUY!!", or "MOON!" No more than 2 promotional posts per coin on the top page. See our Expanded Rules page for more details about this rule. No pumping, shilling, or FUD (fear, uncertainty, doubt). Do not use multiple sockpuppet accounts to manipulate votes to achieve a narrative. Do not solicit, complain about, or predict downvotes. Do not post addresses or seek donations without pre-approval from the moderators. Do not incite or encourage illegal activities. Content promoting leaks, buying/selling drugs, tax evasion, etc will be removed. No malware, spyware, phishing, or pharming links. Do not reveal personally identifying information(PII), otherwise known as doxxing yourself. Divulging how many coins you own can make you a target of hackers and identity thieves. By the same token, do not doxx other redditors even if they engaged in an illicit activity. Report them to the mods or admins instead. Do not steal content, also known as scraping or plagiarizing. Submitting links to blogs or news sites which are no Continue reading >>

Is There A Cryptocurrency Bubble? Just Ask Doge.

Is There A Cryptocurrency Bubble? Just Ask Doge.

Business Day |Is There a Cryptocurrency Bubble? Just Ask Doge. Jackson Palmer, creator of Dogecoin, in San Francisco on Friday. He was an early fan of cryptocurrency, but is now one of the loudest voices warning of a crash in the market. Credit Christie Hemm Klok for The New York Times Jackson Palmer no longer thinks its funny to imitate Doge, the internet meme about a Shiba Inu dog whose awe-struck expressions and garbled syntax (e.g. Wow. So pizza. Much delicious.) made him a viral sensation several years ago. But if he did, he might channel Doge to offer a few cautionary words for investors who are falling for cryptocurrency start-ups, Silicon Valleys latest moneymaking craze: Mr. Palmer, the creator of Dogecoin, was an early fan of cryptocurrency, a form of encrypted digital money that is traded from person to person. He saw investors talking about Bitcoin, the oldest and best-known cryptocurrency, and wanted to find a way to poke fun at the hype surrounding the emerging technology. So in 2013, he built his own cryptocurrency, a satirical mash-up that combined Bitcoin with the Doge meme hed seen on social media. Mr. Palmer hoped to use Dogecoin to show the absurdity of wagering huge sums of money on unstable ventures. Norman Valdez (@DigitalNorman) May 7, 2014 But investors didnt get the joke and bought Dogecoin anyway, bringing its market value as high as $400 million. Along the way, the currency became a magnet for greed and attracted a group of scammers and hackers who defrauded investors, hyped fake products, and left many of the currencys original backers empty-handed. Whats happening to crypto now is what happened to Dogecoin, Mr. Palmer told me in a recent interview. Im worried that this time, its on a much grander scale. Already, there are signs of trouble Continue reading >>

Cryptocurrency | Definition Of Cryptocurrency By Merriam-webster

Cryptocurrency | Definition Of Cryptocurrency By Merriam-webster

: any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions Virtual currency bitcoin hit the mainstream in 2014. Bitcoin ATMs started springing up all over the world , allowing people to exchange cash for the cryptocurrency, a secure digital payment outside of conventional financial institutions. Recent Examples of cryptocurrency from the Web While the country was once home to the worlds most active cryptocurrency exchanges, authorities banned the venues last year and have since moved to block access to platforms that offer exchange-like services. Continue reading >>

Investing In Cryptocurrency As A Nest Egg For Your Children

Investing In Cryptocurrency As A Nest Egg For Your Children

Investing In Cryptocurrency As A Nest Egg For Your Children As a father of three, I first started investing in Bitcoin in 2017, after a recommendation from a friend. I decided to invest 3K for my children as a nest egg for the future. This investment is now worth in excess of 5 figures. Here, I explain the reasons for investing and the process I went through when investing for the first time in cryptocurrency. When did you first decide to invest in Bitcoin for your children? In February 2017 a very good friend of mine essentially sat me down and held my hand to purchase 1 bitcoin each for my three children and helped me store them offline on a cold storage device. I originally invested just 3k, but since then my investment has increased into 5 figures. What platforms/process did you use for your initial investment? Initially Coinbase, then GDAX and then Bittrex and Binance exchanges. Did you face any challenges with regards to your initial investment? It can be very confusing when you are new to the area, and I really needed the help of my friend (he has many years experience) as without it, I think I may have given up! What did you expect the investment to produce initially? I was optimistic that the investment into Bitcoin could be beneficial for my childrens future,but this has been exceeded! When did you realise that the investment was starting to grow/was worthwhile? Within 4 weeks I started to read and educate myself and started to understand how much potential the Bitcoin/Crypto market has for the future. How did the 10x Growth Account come into being, at what point in this process with investments etc, did this become a reality? In September 2017, many of my friends and family were asking how I had invested in Bitcoin. Once I told them they really struggled wit Continue reading >>

The Future Of Cryptocurrency

The Future Of Cryptocurrency

A cryptocurrency is a digital currency that is created and managed through the use of advanced encryption techniques known as cryptography. Cryptocurrency made the leap from being an academic concept to (virtual) reality with the creation of Bitcoin in 2009. While Bitcoin attracted a growing following in subsequent years, it captured significant investor and media attention in April 2013 when it peaked at a record $266 per bitcoin after surging 10-fold in the preceding two months. Bitcoin sported a market value of over $2 billion at its peak, but a 50% plunge shortly thereafter sparked a raging debate about the future of cryptocurrencies in general and Bitcoin in particular. So, will these alternative currencies eventually supplant conventional currencies and become as ubiquitous as dollars and euros someday? Or are cryptocurrencies a passing fad that will flame out before long? The answer lies with Bitcoin. Bitcoin is a decentralized currency that uses peer-to-peer technology, which enables all functions such as currency issuance, transaction processing and verification to be carried out collectively by the network. While this decentralization renders Bitcoin free from government manipulation or interference, the flipside is that there is no central authority to ensure that things run smoothly or to back the value of a Bitcoin. Bitcoins are created digitally through a mining process that requires powerful computers to solve complex algorithms and crunch numbers. They are currently created at the rate of 25 Bitcoins every 10 minutes and will be capped at 21 million, a level that is expected to be reached in 2140. These characteristics make Bitcoin fundamentally different from a fiat currency , which is backed by the full faith and credit of its government. Fiat currenc Continue reading >>

Cryptocurrency Definition | Investopedia

Cryptocurrency Definition | Investopedia

The anonymous nature of cryptocurrency transactions makes them well-suited for a host of nefarious activities, such as money laundering and tax evasion . The first cryptocurrency to capture the public imagination was Bitcoin , which was launched in 2009 by an individual or group known under the pseudonym Satoshi Nakamoto. As of September 2015, there were over 14.6 million bitcoins in circulation with a total market value of $3.4 billion. Bitcoin's success has spawned a number of competing cryptocurrencies, such as Litecoin , Namecoin and PPCoin. Cryptocurrencies make it easier to transfer funds between two parties in a transaction; these transfers are facilitated through the use of public and private keys for security purposes. These fund transfers are done with minimal processing fees, allowing users to avoid the steep fees charged by most banks and financial institutions for wire transfers . Central to the genius of Bitcoin is the block chain it uses to store an online ledger of all the transactions that have ever been conducted using bitcoins, providing a data structure for this ledger that is exposed to a limited threat from hackers and can be copied across all computers running Bitcoin software. Many experts see this block chain as having important uses in technologies, such as online voting and crowdfunding, and major financial institutions such as JP Morgan Chase see potential in cryptocurrencies to lower transaction costs by making payment processing more efficient. However, because cryptocurrencies are virtual and do not have a central repository, a digital cryptocurrency balance can be wiped out by a computer crash if a backup copy of the holdings does not exist. Since prices are based on supply and demand, the rate at which a cryptocurrency can be exchanged Continue reading >>

What Is Cryptocurrency And How To Use It: Everything You Need To Know

What Is Cryptocurrency And How To Use It: Everything You Need To Know

Cryptocurrency is a form of digital money that is designed to be secure and, in many cases, anonymous. It is a currency associated with the internet that uses cryptography, the process of converting legible information into an almost uncrackable code, to track purchases and transfers. Cryptography was born out of the need for secure communication in the Second World War. It has evolved in the digital era with elements of mathematical theoryand computer science to become a way to secure communications, information and money online. The first cryptocurrency was bitcoin , which was created in 2009 and is still the best known. There has been a proliferation of cryptocurrencies in the past decade... Register or log in to view this and other Technology Intelligence articles. It's free and easy to do. Access brilliant stories, features and analysis Sign up to our exclusive Technology Intelligence daily newsletter Become part of our ambitious new Tech networking community Continue reading >>

News About #cryptocurrency On Twitter

News About #cryptocurrency On Twitter

This timeline is where youll spend most of your time, getting instant updates about what matters to you. Hover over the profile pic and click the Following button to unfollow any account. When you see a Tweet you love, tap the heart it lets the person who wrote it know you shared the love. The fastest way to share someone elses Tweet with your followers is with a Retweet. Tap the icon to send it instantly. Add your thoughts about any Tweet with a Reply. Find a topic youre passionate about, and jump right in. Get instant insight into what people are talking about now. Follow more accounts to get instant updates about topics you care about. See the latest conversations about any topic instantly. Continue reading >>

More in ethereum