Operation Cryptosweep: Cryptocurrency Scammers Beware…

A joint force, comprised of regulatory bodies from the U.S. and Canada, has announced that they will be facing cryptocurrency scams head-on and will investigate companies which do not practice the best principles.

It all started with the Texas State Securities Board and they have now joined with Canada in an effort to stop fraudulent Crypto Schemes. They say that as many as 20% of all ICO’s are phony schemes to simply accumulate Crypto Currencies and then depart leaving their investors with nothing to show for their investments.

One of the biggest signals that a scheme is fraudulent is the offering of a high rate of return. Another is that they do not offer a product or service to their investors. They simply pay profits to investors from the proceeds of the newest investors. These are called “Ponzi Schemes”.


You can read more here…


More Crypto News provided by Bitcoinist.com…


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What the term “Bitcoin price” really means…

While many people follow Bitcoin’s price, not everyone knows exactly how this price is determined. Bitcoin is unlike traditional assets such as stocks or commodities, so there are some surprising differences in the way its price is calculated.

When talking about Bitcoin’s price, people are usually referring to either the USD price on a leading exchange (such as Bitfinex, Binance, or Bitstamp) or a composite price made from the average of multiple exchanges’ prices (e.g., CoinMarketCap).

When people talk about the price on a certain exchange, they mean the price of the last transaction made on that specific exchange.

So for example, if the price of Bitcoin on Bitstamp is $10,000, this means that the last trade made on Bitstamp was closed at $10,000. Once a new trade is conducted, the price will be updated accordingly. As Bitcoin is a decentralized asset that trades on hundreds of exchanges and between countless individuals around the world, there is, in fact, no singular Bitcoin price. Each exchange has its own price for Bitcoin, although these prices are usually quite similar.

To learn what keeps all these different prices roughly synchronized, read more here…
What Determines the Price of Bitcoin? (Or any Other Cryptocurrency) | 99Bitcoins


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What Do You Own, Really?

“Amazing how people suddenly realize they don’t own their data on Facebook. Let’s see how they react when they find out they don’t own the money in their bank accounts either!”

How embarrassing could it be on the very day the rent is due, to learn that your bank account has been “frozen” due to some circumstance that you weren’t even aware or. Or how about making a minimal purchase at a store and your “debit card” doesn’t work due to insufficient funds by just a few cents, because you forgot about the tax on your last minimal purchase. Really, I’ve been there in both cases.

When you write a post or a comment on Facebook, that information becomes the property or Facebook. (Read the User Agreement if you didn’t when you joined) Because User agreements are so long and written by lawyers, most of us don’t even open the page. We don’t understand most of it, and just knowing that the website is very transparent, we blindly join and start sharing our personal information.

I’m certain you have heard about young girls (and boys) posting suggestive photos on their pages, and years later, being declined a good job because of that “moment of foolishness”. But it seemed like fun at the time, didn’t it?

So you make a deposit to your bank account and think you can retrieve it later anyway you wish. WRONG! Banks can regulate how much and for what purpose your money can be withdrawn. Some have withdrawal limits. Some refuse payments to Crypto companies. Some refuse withdrawals for gambling, either online or actual casinos. And you thought your money was safe.

Right now as I’m writing this, banks are writing policies to stop the use of credit and debit cards for many types of online purchases. I can understand this when it comes to credit cards. Many people might think that a Crypto Currency is “going to the moon’ as they say, and max out their credit limit to purchase these assets. Then, when and if the price falls like it did in January 2018 after a huge increase in December 2017. they are unable to make the payments. Because of Crypto volatility, it is very difficult for anyone but the expert investors to make any predictions.

On the other hand when it comes to “debit cards”, that is my money that I trusted the bank with. It is entirely up to me to regulate my spending so as not to overspend and get a “surprise” later down the way to the next paycheck. But apparently that isn’t the way it really is, when a bank can control my withdrawals of money that I worked for and deposited to a bank for safekeeping until I wanted to use it for whatever I wanted to use it for.

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Why the Sex Industry Thrives on Bitcoin

The Backpage Effect: Why the Sex Industry Thrives on Bitcoin

Sterlin Lujan is a journalist, editor, speaker, anarchist, and essayist. He has been involved with cryptocurrency and Bitcoin since 2012. Sterlin is especially interested in the intersection of psychology and cryptography. He has written on behavioral economics in regards to innovative technology, and was one of the first to write about the emerging field of cryptopsychology on bitcoin.com

sexBackpage.com is a website like Craigslist, although it is more scandalous and provocative. The site was well-known for allowing sex workers to post solicitations. In 2015, the site was alleged to be permitting prostitution and propping up a sex trafficking ring involving youths. These charges were never validated, but the fallout caused a shift in the way the peaceful sex industry uses money and does business. Bitcoin is now one of the main forms of currency fueling this enterprise. So how did this happen?

Read more here…

And if you already haven’t, come back and click on the link above to Backpage.com…

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Bitcoin is “Financial Dynamite”…

Bitcoinist spoke with Saifedean Ammous, assistant professor of economics at Lebanese American University, Bitcoin economist, carnivore grill-master, and author of the new book, The Bitcoin Standard.

He had many positive comments as to the success and some of the failures of Bitcoin.  The article in Bitcoin News is a good read and quite informative.

Saifedean has a very open and analytical mind when it comes to new ideas, and does a great job of delivering his ideas in a way that is easy to understand.

You can read the full article here…

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