Cryptocurrency

[MahiMike]

Best bet to learn is by youtube videos. There are quite a bit of them out there. You'll scratch your head a lot but good info.

[Rausch]

Originally Posted by MahiMike

Best bet to learn is by youtube videos. There are quite a bit of them out there. You'll scratch your head a lot but good info.

You say that but most vids are old.

You can't mine like you could 8 years ago...

[Rausch]

Originally Posted by MahiMike

Best bet to learn is by youtube videos.

No...

[MahiMike]

Originally Posted by Rausch

No...

check out 'world crypto network' 'tone vays', 'crypto nick', 'the chart guys'

These guys post daily. There's a lotta good info out there dude.

[Bowser]

Hit up teedubya. Rumor has it he likes to give his crypto away for nothing.

[Ming the Merciless]

I think another thing you are not looking at is valuation....even if we accept that bitcoin is the most stable and least risky of all of the coins, the price is still very high...Ethereum being the second most popular coin with a 30 billion dollar market cap....you can at this moment buy 20 ether coins for the price of 1 bitcoin.....or say 100 ether vs 5 bitcoin. Which will grow more/faster? I am going to guess ether at these prices..(IOW I probably would not rathe BTC as 'buy' at these prices)..but as I said before your best /safest bet would be to buy 50 ether and 2.5 bitcoin....print them out and put them away in a safe deposit box.


For the record, I am putting my money where my mouth is. I recently bought some ether tokens to hold long term.....which are even more risky than actual ether.

[MahiMike]

I think you guys are all mostly correct. It's a gamble. My crypto investments are my poker money. 10% tops. BUT they make the biggest moves of anything.

I prefer to go long in bitcoin and smaller investments in other coins.

You can't compare these investments to retirement savings. Just another diversification.

[Eleazar]

An Ethereum Startup Just Vanished After People Invested $374K



A startup on the Ethereum platform vanished from the internet on Sunday after raising $374,000 USD from investors in an Initial Coin Offering (ICO) fundraiser.

Confido is a startup that pitched itself as a blockchain-based app for making payments and tracking shipments. It sold digital tokens to investors over the Ethereum blockchain in an ICO that ran from November 6 to 8. During the token sale, Confido sold people bespoke digital tokens that represent their investment in exchange for ether, Ethereum’s digital currency.

But on Sunday, the company unceremoniously deleted its Twitter account and took down its website. A company representative posted a brief comment to the company’s now-private subforum on Reddit, citing legal problems that prevent the Confido team from continuing their work. The same message was also posted to Medium but quickly deleted.

“Right now, we are in a tight spot, as we are having legal trouble caused by a contract we signed,” the message stated (a cached version of the Medium post is viewable). “It is likely that we will be able to find a solution to rectify the situation. However, we cannot assure you with 100% certainty that we will get through this.” The message was apparently written by Confido’s founder, one Joost van Doorn, who seems to have no internet presence besides a now-removed LinkedIn profile.

Read More: Ethereum's Biggest Hacking Problem Is Human Greed

Even the Confido representative on Reddit doesn’t seem to know what’s going on, though, posting hours after the initial message, “Look I have absolutely no idea what has happened here. The removal of all of our social media platforms and website has come as a complete surprise to me.” Motherboard reached out to this representative over Reddit, but hasn’t received a response.

Confido tokens had a market cap of $10 million last week, before the company disappeared, but now the tokens are worthless. And investors are crying foul.

“I got scammed big time,” user cioloxl wrote in the Confido thread on popular cryptocurrency forum Bitcointalk. “This was a very valuable lesson for me, in both senses of the word.” Another user, masternode, was more measured, but no less angry. “This is a punch in every single investor's face,” they wrote.

At this point it’s unclear what will happen to the $374,000 that investors put into the Confido project. At the very least, TokenLot, the website that ran the ICO on behalf of Confido (TokenLot does this for many startups), sounds like it’s having a busy day. “We’re the only remnant online right now in terms of people contacting us asking for answers,” said Eli Lewitt, co-founder of TokenLot, over the phone. “These were very good scammers.”

While many cryptocurrencies are still trying to find a useful application in the real world, Ethereum has become a darling among financial types because ICOs allow startups to raise huge investments in lightning-fast funding rounds. But a dark spectre has loomed over the frenzy since the digital gold rush began: What happens if a bad actor is hiding out among the bunch, and simply disappears?

Well, we might be about to find out.

https://motherboard.vice.com/en_us/a...ested-374k-ico

[Eleazar]

A $31 million hack freaked cryptocurrency traders out and sent bitcoin’s price plunging
Joon Ian Wong


News broke that nearly $31 million worth of Tether tokens had been hacked and stolen. Tether is a digital token that pitches itself as being a stable cryptocurrency that’s pegged to the dollar, so each Tether token is worth a US dollar.

But Tether developers froze the loot in place before the hackers could cash out. They did this by writing new software that blacklisted the address where the loot was held, and convinced all the exchanges who use Tether to run the new software. This means that the looted funds can’t be moved or liquidated. The move amounted to a hard fork of the Omni Layer protocol, which Tether is built on. For extra safety, Tether says it won’t honor redemptions of any tokens from the stolen funds.

The Tether incident threw the cryptocurrency world into a frenzy. For a long time, questions have circulated around the relationship between Tether and the Bitfinex exchange, and whether Tether’s claims—that it has the $400 million in US dollar reserves to back its tokens—are true.

One dogged critic of Bitfinex and Tether with a large following among traders is an individual who goes by @Bitfinexed on Twitter. Understanding @Bitfinexed’s theory (explained in detail at Alphaville) explains why the market briefly panicked on the Tether hack news. The argument goes like this: Tethers aren’t backed by dollar assets, therefore they can be issued freely. A large Tether supply is then used to buy up bitcoin on Bitfinex, driving up the price. This practice has created the current cryptocurrency boom, and presumably provided ample opportunities for insiders to profit.

If the alleged Tether-Bitfinex house of cards comes crashing down, it could take the cryptocurrency markets with it, since Bitfinex is the largest bitcoin exchange by some distance. Crypto traders have been traumatized by similar crashes before, that have flattened the bitcoin price for years. Most famously this occurred when Mt. Gox—the then dominant bitcoin exchange—collapsed in 2014. That collapse was pre-dated by fund withdrawal troubles, opaque statements from the exchange operator, hacks—and a rapidly rising bitcoin price.

Bitcoin’s price appears to have recovered—it’s almost back to where it was before the Tether news broke. But the tremors from this breach means traders will be closely watching for signs that @Bitfinexed has been right all along. The account’s possibly prophetic pronouncements has already earned it the moniker of “Bitcoin Moses” in the wake of the hack by one industry personage.

https://qz.com/1134752/bitcoin-price...-million-hack/