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How to Avoid Phishing Scams in the Crypto Space. 

Category Archives: Crypto Education

Introducing The Crypto University

Rohith Salim is excited to announce the launch of The Crypto University [www.thecryptouniversity.io] — an online school to learn about all things crypto & blockchain.

He and his buddy Ryan (Ryan Chadha) have been looking closely at the crypto space (and no —not just Bitcoin) for quite some time now and they are fascinated by the potential some of these cryptos have to solving the inefficiencies that exist in industries such as accounting, real estate and finance.

Be sure to continue to read at the source: The Crypto University Hackernoon

Scams In the Crypto Space

By Anabel Cooper 

Are you trying to avoid cryptocurrency scams? If so the best option for you would be to stay at home and not to play with your hard earned money. However, if you are determined to invest in the world of cryptocurrency which is full of risks you should be aware there are a few common scams out there which you should be careful about.

Scams are always shady and when you get caught you are going to be hit hard. Given below are some common scams with information about how you can avoid getting trapped in them.

Shady Exchanges

The popularity of Bitcoin and V of other types have witnessed a huge rise in exchanges dealing in cryptocurrency. They are all looking to grab your attention along with the transaction fees that you will be liable to pay when they handle your purchases. If you are a fresh entrant into the market of cryptocurrency it is unlikely that you may have heard about Mount Gox which was an early exchange dealing in cryptocurrencies and was accounting for nearly 70% of the total cryptocurrency transactions throughout the globe. Mount Gox was suspended from trading in February 2014 when it was disclosed that nearly 850,000 Bitcoins had been stolen and were worth $450 million at that time. About 200,000 of the stolen Bitcoins were recovered and returned to some users but the point we are trying to make is that it is difficult to trust people in the digital world simply because you don’t have the ability to audit or verify what is happening behind the scenes.

Pyramid And Ponzi Schemes

A Mumbai based company named OneCoin was delivering a sales pitch to a group of investors in the spring of 2017. Officers from the Indian enforcement directorate raided the meeting and eventually jailed 18 representatives of OneCoin for operating a cryptocurrency Ponzi scheme. Investors had been duped by a combination of enthusiastic selling along with plenty of positive media coverage giving information about the project and the rising prices of cryptocurrencies. A number of people lost a huge sum of money simply because they weren’t able to comprehend the information created by the scam artists that for using jargon and technology which had not been heard of by most people. It was perhaps fortunate that the officials from the enforcement directorate were able to raid the meeting because the representatives of onecoin had already moved out $350 million with the help of a payment processor.

Pump and Dump

Crypto Currency has been described as a scam by a number of prominent financial experts while some have even compared Bitcoin’s to investments in gold. Many financial experts still hold the view that the market for cryptocurrencies is just a haven for speculators and is ripe for pumping and dumping. Bitcoin presently has a market capitalization of over $70 billion and it can be extremely difficult directly to manipulate the prices. However smaller altcoins which have also been used are vulnerable to the standard pump and dump tactics. Altcoins have now replaced penny stocks with a technological edge and several groups are in the market to promote altcoins as best possible by them.

The thrill of making some quick money can be exciting for a newcomer in the market of cryptocurrencies. However, they are required to understand that the market is still unregulated and unless people are careful about the type of cryptocurrencies they decide to invest in they are likely to get into trouble with government agencies and end up in jail just as the representatives of OneCoin realized after they were raided. Extreme caution needs to be exercised by people who decide to invest in crypto space because of the proliferance of scams.

Bitcoin & Blockchain & Why You Should Care: NY Alternative Investment Roundtable

Bitcoin & Blockchain & Why You Should Care: NY Alternative Investment Roundtable

Source: Reggie Middleton

Why Bitcoin Cash is the Real Bitcoin at this Stage: Different Systems (Bitcoin vs SegWit vs Lightning)

What are the differences between Bitcoin system, SegWit system and Lightning system and which one is true P2P, decentralised and which one is real Bitcoin system?

Which system should be called Bitcoin?

Please note that coin of every system is called by the system name, and note that Bitcoin coin name has been hi-jacked by Core & Blockstream as they count on exploiting lack of higher knowledge of users and the users not knowing how system works. Most users know the brand name only, as this is how mentality of consumers works, and Core & Blockstream count on this to trick you thinking you hold Bitcoin but you are not.

Answer is inside…

To all the Core advocates: You can bite me… I will keep calling you out

To all the Core shills: Stop being a moron and allow these liars to brainwash you. Temporal price of the coin is not determining factor of what Bitcoin is… THE WORKING PRINCIPLES is that what determines this. So stop being sheeple.

In addition, “I meant to say, with small block size, miners need higher fees , with large block size they can have lower fees as there is much more space for more transactions in the block, to get equal amount of reward from fees.

I also forgot to mention that user sending coins signs his transaction and this signature goes into the Bitcoin block also (but in SegWit system signature is not included in the Bitcoin block).

Opening a payment channel is equivalent to opening an account with a bank.

Oh and how could I forget this… ask Wikileaks what happens when government want to lock you out… all banks lock you out, Lighting hubs will act the same way, but miners don’t.”

Source of Text and Video: Ed

Bitcoin Cash Misunderstood and Underestimated | The Real Bitcoin? | Censorship Resistant

Bitcoin Cash Misunderstood and Underestimated | The Real Bitcoin? | Censorship Resistant

Source: Cryptobud

Tommy World Power: Why I don’t Day Trade Cryptocurrencies

Tommy World Power: Why I don’t Day Trade Cryptocurrencies

Source: Tommy World Power

South African Supermarket Trials Bitcoin, Jamie Foxx into Crypto?

South African Supermarket Trials Bitcoin, Jamie Foxx into Crypto?

Source: Boxmining

TECHNICAL ANALYSIS 101 for Bitcoin Beginners – Spinning Tops and Doji

TECHNICAL ANALYSIS 101 for Bitcoin Beginners – Spinning Tops and Doji

Source: BiteSizeBitcoin

The Crypto Sniper: Does Bitcoin have any Shortcomings What are the Advantages of Bitcoin

The Crypto Sniper: Does Bitcoin have any Shortcomings What are the Advantages of Bitcoin

Source: The Crypto Sniper