Cryptocurrencies, and the next big thing

[pixel]

methinks there is an "i" too many in the name. It's rather a bit of a Bit-Con

 

[Modest]

 

[matty77]

ANY coin that promises to pay you a certain % back on a daily basis I advise you to run from, there are a few new ones out being spruked by the same people that were involved in bitconnect, paying !% daily, or 2% daily etc, get your money back within 200 days if you invest over $10k

DYOR as there are lots of dodgy ICO's going on at the moment.

 

[Logique]

methinks there is an "i" too many in the name. It's rather a bit of a Bit-Con

I'm getting seriously spam emailed about crypto currency platforms

 

[notting]

Not a good look -

Massive Japanese cryptocurrency hack won't be the last, Wall Street analyst says

• The more than $500 million in cryptocurrency stolen by hackers from Coincheck last week was unlikely to be the last such attack, said Nicholas Colas, co-founder of DataTrek Research.
• Coincheck announced Friday that around 523 million of its NEM coins, worth some $534.8 million, had been fraudulently sent to another account.

 

[DB008]

What were they thinking - keeping that amount of money in a hot wallet - absolute madness. They were asking for it. Looks like they are trying to do the right thing now....

Japan cryptocurrency exchange to refund stolen $400m
​

A Japan-based cryptocurrency exchange will refund to customers about $400m (£282m) stolen by hackers two days ago in one of the biggest thefts of digital funds.

Coincheck said it would use its cash to reimburse about 46.3bn yen to the 260,000 people who lost their holdings of NEM, the world’s 10th-biggest cryptocurrency by market capitalisation.

On Friday, the company detected an “unauthorised access” of the exchange and later suspended trading for all cryptocurrencies apart from bitcoin.

Coincheck said its NEM coins were stored in a hot wallet instead of the more secure cold wallet, which is kept offline, because of technical difficulties and a shortage of staff capable of dealing with them.

The resulting 58bn yen loss exceeded the value of bitcoin that disappeared from MtGox in 2014.

https://www.theguardian.com/technol...currency-exchange-coincheck-refund-stolen-nem​

 

[DB008]

As I have said a number of times - whatever you purchase - move to a secure wallet (cold or paper or hardware). Leaving it on an exchange is opening yourself up to these hacks

 

[Indoril]

Was reading up about Bitconnect and came across this gem.
http://ponzicoin.co
The FAQ is brilliant.

Q: This seems like a great investment opportunity! I need to get back all the money I lost in BitConnect, so can I put my entire pension fund/college fund/retirement savings/second home mortgage in?

A: No, this is a joke. Don't put any significant amount of money in this, follow /r/personalfinance's advice and please don't invest more than you can lose in crypto.

Q: Is this a scam?

A: Yes, it's as much a scam as 99% of the ICOs out there, but it's more transparent about it

 

[satanoperca]

It is like Las Vegas in 2008. Were did everyone go, don't you want to be a zillionaire

 

[matty77]

good buying opportunity, im up to my neck in it.. lol well not really but I am having fun thats for sure.

 

[noirua]

This looks to be one way things are likely to go: https://whatscrypto.com/gold-backed...loc-onegram-indexgold-gold-backed-crypto-ico/

https://whatscrypto.com/get-the-latest-upto-date-breaking-crypto-news/

 

[DB008]

This puts it into perspective....

dot.com and crypto

​

 

[Joules MM1]

https://www.reuters.com/article/us-...8f5c&utm_medium=trueAnthem&utm_source=twitter

SEOUL (Reuters) - South Korea said on Monday that North Korea last year stole cryptocurrency from the South worth billions of won and that it was still trying to hack into its exchanges.

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[Joules MM1]

news that fits the trend
https://www.reuters.com/article/us-...f75b&utm_medium=trueAnthem&utm_source=twitter

(Reuters) - Banks in Britain and the United States have banned the use of credit cards to buy Bitcoin and other “crypto currencies”, fearing a plunge in their value will leave customers unable to repay their debts.

 

[Modest]

 

[Joules MM1]

!

and then

 

[Modest]

Sideshow Bob Hair: "If nobody understands it why you getting into it?"
Punter: "no no I totally get it it"

Haha

 

[Joules MM1]

but, wait, there's more

https://www.reuters.com/article/us-...a6c1&utm_medium=trueAnthem&utm_source=twitter

NEW DELHI (Reuters) - India is planning steps to ensure cryptocurrencies are illegal within its payments system, while at the same time appointing a regulator to oversee unregulated exchanges that trade in “crypto assets,” a finance ministry official said on Monday.

 

[sptrawler]

Well I guess the margin calls will be going out.

http://www.smh.com.au/business/mark...d-issuers-tighten-screws-20180205-p4yzgi.html

 

[tech/a]

Those headlines are the Wrong way round!