Advertisements

Bytecoin (BCN): Russian Billionaires and Fabulous Resorts?

Bytecoin (BCN): Russian Billionaires and Fabulous Resorts?

This is your Bytecoin update, minus the hoopla and charts. Cue the music and watch your wallet.

The red flags keep coming. Buy BCN? Please.

If you have perused any of my past blogs (see below), I’ve, on occasion, written about Bytecoin. It’s one of those older cryptocurrencies, that never quite got off the ground. Not like Bitcoin or Ethereum or even Ripple. Sure, people have been interested in it – like me – and then they dropped it. Like me.

Why? Because the answer my friends is blowing in the wind – just like that song. You need only to sniff Al Capone’s cigar.

Bytecoin does not pass the smell test.

Maybe in the deep dark future it will. But not yet. Not when cryptocurrency exchanges dump it or freeze it for months on end. Not when the Bytecoin website goes dead for over a year, then rises from the ashes. Or is that, “sneaks from the shadows?” Not when most exchanges won’t touch it…after years.

Investors have consistently lost money in Bytecoin and it’s happening all over again. It’s called learning the hard way. It’s not like the other altcoins…not by a longshot. And investors need to know this…again.

Fast forward five years. Present day. After all the deception Bytecoin has shoveled out.

Cryptocurrency and blockchain curiosity has now enticed new investors to risk yet more money in Bytecoin…and many other altcoins. The current cryptocurrency (blockchain) environment is a feast for start-ups, with access to easy money and absolutely, it is a boost for innovation and business. It is, unfortunately, a boon for criminals and the mob. Milk money. A fool and his money are soon ruined. It is why governments, in their infinite wisdom, often reach in and “attempt” to pull the plug.

Bytecoin deserves a special mention – again.

And as the years pass, the more often it seemed that mobsters were peeking around the bushes. Did I say there are hints of mobsters – organized crime? Yes. But you be the judge. I know I’m making serious allegations, but hear me out.

Bytecoin is not like any cryptocurrency on the planet. Yes, Monero used the same tech in the beginning, based on the CryptoNote protocol. Arguably, Aeon and Electroneum are born of the same math-cloth. And there are other altcoins that utilize the protocol. Even these others, must be used with caution.

The point is, with Bytecoin, the “rabbit hole” is a game. The mystique is simply there to make everyone chase their tails, whilst the rabbit – the Bytecoin creators – sit back and reap the rewards, in the millions of dollars. It is, like many other altcoins, a money blackhole.


Ask these simple questions:

  • Why do all the Bytecoin/CryptoNote developers hide?
  • Why are all the names associated with CryptoNote and Bytecoin either pseudonyms or “handles?”
  • Why have none of them come forward – not ever?

Here’s the standard answer: to protect them from prosecution. But given the stench, the threat of prosecution is real – for them. Very real. For you? It’s the loss of your money.

Should governments find them, Bytecoin developers would, like Monero and Aeon (but not necessarily Electroneum) suffer. Sure, others could simply copy the code and start over. Dip into the repository and begin again.

“…organized deception.”

To think that they can hide forever is hubris. Monero at least tries to put a good foot forward. Aeon developers are hidden. Bytecoin is off the reservation, however. The outward appearance speaks of organized deception. All of it.

In fact, we do not even know if the current developers of Bytecoin are even the originals. We have no idea if they are (or were) good people and judging by their responses on Reddit and other social networks, they leave a lot to be desired.

As a former law enforcement officer, based upon decades of training and experience – they remind me of the thousands of thugs I have had the pleasure of investigating.

Could I and others, be wrong about the Bytecoin crew? That Jenny is an honest soul, trying to keep our wealth out of the hands of corrupt governments? (I’m sorry Jenny, but you and your friends make it too easy.)

How about this recent tweet on January 5, 2018?

BCN Tweet - Copy

 

Is it Sheldone.store or Sheldon.store? The latter is a brand-new site. Buy with confidence? The former listing seems to be an error, as well.

And Check-coin.com? A new store accepting Bytecoin in a high-risk countryBulgaria? I’m not even going to link to this site. I don’t want to risk your computer, let alone your bank account.

How about this recent glowing report about Bytecoin —  from Decentral Magazine? A brand new, but popular website? If so, why is Decentral Magazine keeping their facts private? I mean I do, as an individual, use a pen name, but my website location is not hidden. I’m in the United States. Any court order can find me. But would not a news magazine want to publish their reputation to the world? And why did the article omit Bytecoin’s negative past? Was this a paid advertisement? Methinks…yes.

How about that fabulous resort in Montenegro? Dukley Hotel and Resort? If you check Scamadviser here, the website is new — and could be on a compromised server. Careful if you visit the website. But you can spend your bytecoin there. Here, try these glowing reviews and don’t forget to expand the “weird” comments. The rest is self-explanatory and telling. Here’s the Google 3-D Map link. Why one reviewer thought of Russian Billionaires is curious.

And there are other new concerns…

Art at Gabo? It’s a new site. You can spend your bytecoin on a nice cell phone cover, a bytecoin t-shirt, even a BCN coffee mug, if you are so inclined. The site appears to be in the United States. Use at your own risk.

Lebytecoin.fr? I’m not linking to it. Scamadviser says it’s on a compromised server. Risky.

Sakama leather goods is an older site, but its owner is hidden. I only buy my leather goods from the “unhidden.” You know, in case I need to return them.

BytecoinMarket.com? Yet another new site. Visit at your own risk. Here’s the Scamadviser on it.

All the above is only to make you think. Yes, in a perfect world, we would all buy our goods in private. No government bureaucrat should watch our every transaction and bytecoin is one offered solution. But pick your solutions wisely. Do not enrich the wrong organization.

The above is not investment advice. It is just information. Take it as you may.

 

Suggested reading:

 

Advertisements

The South Korean Cryptocurrency Panic, Chinese Bitcoin Exit and Potential Market Ramifications

The South Korean Cryptocurrency Panic, Chinese Bitcoin Exit and Potential Market Ramifications

 

***A quick note to readers***

Overnight, Coinmarketcap.com decided to exclude the prices of cryptocurrencies listed on the South Korean Exchanges. There was no apparent warning. And many conspiracy theories have been offered, including foul play.

The fact that one of the most popular crypto-market information websites did this is odd, but may be appropriate. I’ll explain.

Coinmarketcap has always been slow and secretive, sure.

Coinmarketcap.com’s website information is “guarded.” It has Panamanian Administrators according the Scamadviser website. Okay.

These are the excluded exchanges from Coinmarketcap’s calculations.

  • Bithumb
  • Korbit
  • Coinone

Currently, the above exchanges account over 46% of the ripple market alone — according to Coinmarketcap.com. Have you ever asked yourself why?

Always remember to use more than one source for your crypto-pricing. Personally, I focus on the prices from the exchanges I use and ignore the rest.

Reddit and Twitter are also buzzing. Many of the people I trust are indicating that this is not a panic situation, but a potential buying opportunity. And yet, few are pointing to something else. Something obvious? Surely, the sell-off is a major correction.

Here’s another source for crypto-prices: Live Coin Watch. Just to screw your head on straight.

Also, this just came over the wires. South Korean Banks are under a probe for possible money laundering related to cryptocurrency exchanges. Perhaps this is why Coinmarketcap is “distancing” themselves from the exchanges there. This, after a South Korean spike in cryptocurrency prices.

If the authorities in South Korea find criminal connections between banks there and the above listed exchanges, it might put a downward pressure on prices worldwide.

In any event, if cryptocurrency price averages return to a more believable level, stabilization and continued growth of this fintech space seems logical. The only burning question for now, is the survivablity of bitcoin, given all the bad news out of China lately — that the government there is beginning to limit all of that reduced price electricity to the BTC miners.

Add in that Microsoft is ditching bitcoin and you have a nice little panic brewing.

I’m going to buy.


All of the above are my opinions. Not advice. Ask your brain for details.

Cardano (ADA) is the Next Bitcoin?

Cardano (ADA) is the Next Bitcoin?

Dear Crypto-Thinkers,

Keep your brain-caps on. It’s the time that we few long-haul penny investors outdo the professionals, since we have invested the time and sweat. And we can have our chocolate croissants too.

I often research how readers land on my relatively unknown and largely unread newsletter. I do this to both improve my information – I hope – but also to communicate what I think people are thinking. I mean Google Trends are one thing, but reading the fricking tea leaves is for the fools, like me.

I have more time to do this now, because I have spent countless hours, days, months, and now – years – with my nose to the computer screen looking at (investing in) cryptocurrencies. It all started before bitcoin, when I was looking for something like it…and now I’m here…and going slowly blind. (I’m old, what can I say. But I’ll bet I was in crypto before most.)

In some cases, I can pull the search phrases people use when they land on a post of mine. Lately, among a dozen other search phrases, someone asked a very odd question, but maybe it’s not so weird. Maybe I’m missing my own ship…again. And mind you, I’ve sailed a few rough seas and even the lake I live on in Florida.

It’s about Cardano (ADA).

The person who landed on my site, typed simply:

“cardano the next bitcoin”

…and that was it.

I thought, what? Replace bitcoin? Are you kidding me? A crypto that is still wet behind the ears, not fully tested in the crypto battle front and is split into at least three parts, a wallet maker, a marketer, and a coin/system coder?

And all the funny names associated with Cardano (ADA). A dead mathematician and the world’s first algorithm developer. Okay. That’s nice. Nostalgia.

The name of the new algorithm: Ouroboros. A tongue twister for us “ugly Americans.” The serpent eating its own tail. How nice.

And the name of the wallet?  Daedalus. Greek mythology. The skilled craftsman. Maybe a dead wallet?

This is all special, but the proof is in the dog, right? Will he eat it? And the answer is? Yes. Billions of dollars’ worth, in short order. That must be one hell of a shot in the arm. A vote of confidence. Trust. ADA is being consumed in hopes of gains and interest, in the Proof-of-Stake wallet for sure.

Cardano, as I understand it, is a system that is incorporating a new programming language. Like many crypto-projects, development is an ongoing process. With each roll-out, each new improvement, we often see a bump in value. A change in perception – as to what we think this system can accomplish. Then the lull, before the next bit of news. Perhaps a new exchange will list it. Great…then the bump.

I have watched Cardona climb from two cents. Wow. And few dumps. Incredible or telling? I’m pessimistic at present. I think – and I have been wrong – a dump is in the offing. And soon. Why?

Note: After I posted this,  ADA dropped almost 25% by January 6, 2018 — but so did a lot of other altcoins…

In my thinking, it becomes more difficult when your cryptocurrency is separated into parts, like Cardano. And when these parts are separated by borders, it’s even more difficult. Hence the idea of a Maritime Law system to anchor Cardano in the world of regulators, but not necessarily be owned by them. To say that this project is not ambitious, is an understatement.

Still, I was shocked, as I always am, when cryptos climb that first big wall. These days, with institutional investors about, banks going goofy over blockchains, governments seriously considering cryptocurrencies as fiat-replacements, and now “everyone” investing in this space – I am both happy and…worried.

When the dumps come now, they will be mythical in scope. As in, “remember when that altcoin dumped, and the government stepped in and shut down the…”

“…adding XRP…”

Coinsquare CEO Cole Diamond recently said something that made me wonder. Coinsquare is a well-known Canadian cryptocurrency trading platform, that by American standards, is light years ahead – as Diamond seems to imply. They are adding Ripple (XRP) next and there are more altcoins to come.

Diamond implied that they are now seeing a broader interest in the space. No longer are the younger investors about, but older ones – every kind of person and age.

That’s my take. They have arrived. And, they are still arriving.

This is good, but it could spell disaster. As in a Tulip disaster.

Which means what? It means, that there is still time to come aboard, but, as some have suggested, maybe not much time to magnify your investments. Unless you think in a different way.

And, I’m not saying that Coinbase, in the US, is slow on the uptake, given the draconian tax laws and regulations in the United States, not to mention their ongoing fight with the IRS, but they could end up in the doldrums, far from future trade winds, if they don’t act quickly to secure their place in the space.

“…Cardano (ADA), Iota (MIOTA) or Raiblocks (XRB).”

In any event, some refer to what is going on now as a “second tier” catch-up. In other words, as bitcoin, litecoin and ethereum appear to take a breath, there’s thin air up there, the next crew is making its move. Ripple, of course, being a first mover in this, but it is not really a new generation altcoin, like Cardano (ADA), Iota (MIOTA) or Raiblocks (XRB).

If you look, you will see that the old guard, such as Ethereum, are offering grants to help them scale – improve their products. Is this catch-up or forward thinking? A search for new blood? Isn’t it odd that Ethereum is considering a proof-of-stake concept, while Cardona works to implement same?

Seriously, I am enthusiastic about Cardona, but miss the idea behind bitcoin too. I feel that developers should be rewarded for their work, but we must remember how we got here. It was bitcoin. It was Satoshi Nakamoto. No matter how you bake it, split it up, rationalize it, the crucial core of it was bitcoin. And even bitcoin had its predecessors. But it was the proverbial “critical mass” and the saving grace. Almost nobody could control it. It was Pandora’s Money Box. And Pandora left only hope, if you remember your Greek Mythology – after she opened the “jar” of evils.

In the meantime, back here on earth, where Greek Gods are the names of sub sandwiches, let us man the lookouts, shall we? If we see a good target, even if it is moving, we need to take it out, bring it home, skin it, cook it and…eat it. Then think: “Next.” What other foods can we skin, before the big dogs eat?

Finally, as a side note, I have real heartburn with Peter Thiel’s idea that bitcoin, though nearly unmovable – considering the cost of transfers these days – is becoming the new replacement digital gold standard. A 20-million-dollar investment is peanuts for him, but a slight move to the downside wouldn’t hurt the Thiel profit margin, I guess. Is he coming late to the party? I hope so. My bets have been off bitcoin for months and I have profited

And I hope…like those who have contacted me…that you have also made a killing.

 

Sincerely,

 

Jack Shorebird

P.S. The above was advice. It meant: use your head and don’t let the nerds get you down.

The Ghost of Crypto’s Future

The Ghost of Crypto’s Future

Dear Cryptocurrency Investors,

It’s about the money.

Lost in the lull and the bull, the chart readers and the screaming heads; and the comedians and the click beggars, the FUDsters and FOMO-kings, sock-puppets, trolls, you name it…is the truth.

And the hell if I know it, but neither does anyone else.

Two things that are influencing people deserve mention, however. Charlie Lee‘s revelation and Coinbase‘s inadequacy.

You can see bits of the potential future of cryptocurrency all over the net in real-time, but not necessarily in “past” time. The encapsulated version of why we are where we are. The rooting of the space, if you will.

Profits speak louder than purists, however and that answer lays ahead. Predictions that bitcoin will soar into the millions of dollars, seems to go beyond boundaries of common sense. We should not allow profiteers to reach into our collective pockets, as they sell into our greed.

Charlie Lee, who did not divulge the numbers of Litecoins he allegedy sold recently, did so for a reason and if you noticed, near the peak in price. That action speaks volumes, no matter the reasons he might give to the contrary. Even if Litecoin becomes the most popular cryptocurrency, the doubt will linger in the minds of investors.

And this doubt also injects its worry into bitcoin.

What is Charlie seeing that we do not?

If you haven’t made 25% to 50% returns this year (2017) then, I’d be surprised. Many have made far more than that…

What will happen in 2018?

In 2018, we could see a reversal trend. From bitcoin to Ripple. It seems to be on its way now, but this space is notorious for pumps and dumps and even I doubt Ripple XRP’s will climb to $10 each, as some have suggested, by mid-2018.

That bitcoin will drift lower, gradually, as it is polluted by the knock-off clones, Bitcoin Cash, Bitcoin Gold and others is another “theory.”

The cryptocurrencies we have come to rely upon are taking hit after hit and they have not recuperated as of this writing. Many investors are paying an emotional cost, having bought in late. The faith that bitcoin has always recovered, is currently being retested.

What are a few weeks of losses, you say, as bitcoin works out its kinks?

…gamble a little…

These last few weeks of 2017 will embitter some of the newest investors, that’s why. The ones who have been watching and trying to understand and who have, after a time, decided to gamble a little. These are the retirees as well as the professionals, but not necessarily expert investors. They are conservative types and once burned, they may never return. These last few weeks have burned them. And they have lots of money to invest.

After the Thanksgiving chats, they went in. Thousands, if not billions of dollars. And what happened? They were cut off at the knees. Profit takers swept in. Exchanges could not handle the inflow. Bitcoin showed its flaws.

Ripple held the doors open, but few of the newest investors knew how to buy Ripple XRP’s. So, the late comers served to enrich the first comers…not unlike any good Ponzi Scheme, with the exception that the bitcoin scheme seems perpetual. It still has billions left…for now.

Already, I have spoken to those who, in the last few weeks invested thousands in cryptocurrencies and have already cashed out, with losses. This was after I had shown them what they could have made had they listened to me over the last five years.

…Cheap wine…

They were astounded then, but not now? Now they shake their heads at me. Not only do they tell me that they think that bitcoin will crash, because they have seen this sort of thing before and names like Ripple, reminds them of cheap wine.

“Cheap wine?” I ask. “The name bothers you?”

They say it does.

Personally, I can understand that. “Ripple is not a great name, but look at the returns,” I tell them.

“Doesn’t matter,” they say. “We got burned on bitcoin, Ethereum and Litecoin, what the hell difference does it make? They are all the same.”

“Ripple has its pluses,” I tell them. “It’s doubled in value as others have sunk. Ethereum has a lot of pluses as well, but…”

“Just you wait,” they said. “The government is going to shut them all down.”

“Not Ripple,” I said. “It’s playing along with the regulators. It services the banks and now credit card companies and more good news is coming.”

“What about Dragoncoin,” one asked.

“Dragon what?” I replied.

“How about Raiblocks?” another asked.

“It’s too new — risky,” I replied.

“It’s got better tech than bitcoin,” came the rejoinder.

“Okay, but Iota said the same thing and they are struggling. Each coin argues with the other. The test for me has always been “use cases.” And bitcoin used to be used more, now Litecoin seems to be taking up some of the slack,” I said. “And Ripple…”

“Cheap wine?” one replied.

“Never mind,” I said.

Bought gold and silver…

So I wait, but for now, as these old investors have retraced their steps. Bought gold and silver and palladium. Dumped stocks and bonds, like they’re on fire. One was just ripped off when he failed to check out a gold dealer to see if they were legit.

And these conservative types, these investors who have accumulated wealth the hard way, do not like to lose a single dime. Time is far too precious now. I know, because I am one of them — we’ll almost.

This dip in bitcoin price, even if it recovers tomorrow, will, like Charlie Lee’s recent Litecoin cash-out, linger like rotten cheese. It’s like that fake gold dealer where one guy lost thousands dollars last month.

I asked that guy how he lost that money. He said he found the gold guy on the internet and sent him the money from his IRA and that was that. Didn’t check him out because he “trusted” the internet. Didn’t even tell his financial planner he was doing it, because he wanted to save on fees. He trusted that his internet service provider would not allow fake gold dealers to advertise via email. And it was easy to do, he said.

…knowledge gap…

It’s a knowledge gap. In years past, it was nearly impossible to send official looking mail to someone for free. If you received a chain letter of scam bank notice, you were not often fooled. Phone call scams were easier and they still are, but they are labor intensive. Since criminals are naturally lazy, they want the biggest bang for limited effort. Welcome to scam websites and emails. Welcome to webpage Monero miners.

…Coinbase…sucks…

There are legit cryptocurrency sites, however. Coinbase for one.

Now, here’s the thing. For these conservative money types, Coinbase’s newest web page look and feel sucks. Right there, they are losing millions of dollars in business. Why? Why would they intentionally allow their coders and website gurus make the site counterproductive? Counter-intuitive?

I recently sat down with several businessman, some retired folks, a Human Resources Specialist and a two company presidents. I showed them the Coinbase website, which has gone through several alterations over the years. This newest version, I’ll wager, has probably influenced the latest bitcoin losses. Why?

Navigation across the platform is slow and confusing, they said. For example, a lot of the web pages have various tabs you may click on, but no highlighting or help capsule to let you know they even exist. Bad business all the way around.

“And look at this,” one said. “Each tab on the left, Bitcoin, Bitcoin Cash etc., you click on them, the word, and then to the right you see all of your transactions. Why do the jam it all in like that, like those credit card websites now?”

I couldn’t understand why Coinbase would do that. “It was not like that before, but it was not great before either,” I said. I just got the glazed-eye look then.

“Can I just call them?” It was a elderly woman.

“I’m sure you can,” I said.

“Have you ever called them?” she asked then.

“No. I do everything online now.”

I hadn’t been on the Coinbase website for a while and it took me, without reading too many directions, about 30 minutes to see how they had changed it. How did I do this? I started clicking every damned word on the page and behold, it all came together. But newbies and oldies should not be turned off like this. It is clear that the age and knowledge gap is hurting their business.

But seriously, Coinbase, get your heads of out of the sky for a moment and hire some people who understand how to make things idiot-proof. Take a lesson from Amazon or Paypal, but get it together. That is, if you do not want to see competition scream right past you.

…Cryptocurrency Specialist…

But just another short look into future seems to show me that soon, you won’t be able to buy cryptocurrency without a broker. And those of us holding, in the US, will be required to report and then turn over those holdings to licensed crypto-managers. A Cryptocurrency Specialist at your local bank or money house.

Wouldn’t that be just peachy?

 

 

Sincerely,

Jack Shorebird


 

Hashgraph: Potential Ground Floor Opportunity?

This is just a notice.

If you have not heard about Hashgraph, you might want to peruse the videos and sites listed below.

Although, the jury is still out, this protocol seems to be the next big thing in internet and maybe even cryptocurrency.

Blindingly fast, already in use, proven tech, and on the cusp?

There might be an ICO coming.


Videos:

From Bitcoin To Hashgraph: The Crypto Revolution – Hidden Secrets Of Money Ep 8 – Mike Maloney

Hashgraph Youtube Channel


Websites:

Hashgraph Homepage

Whitepaper

Twitter

Facebook


 

Get Educated!

jgs

 

Bytecoin Wins, Electroneum Needs Work.


Unable - Copy


Unable to update balance? Why?

Sometimes you have to really “use” the software to get a good feel for it.

After using Electroneum’s web wallet several times, I had enough. Life is too short for me to sit and stare, as my balance updates over and over. As the spinning circles spin. Not to mention having to click and re-click and start over — when trying to transfer ETN’s.


El - Copy


Enough. Please stop the spinners…

Maybe Electroneum will iron out their kinks and maybe all will be well and maybe it’ll blow past Bytecoin, but not now. Maybe never.

To compare…

I have experimented, over the years, with Bytecoin software wallets. You know the kind. You download them, sync them, wait forever and go from there. I have not used the new web based Bytecoin wallets, so I have no reference there.

For all the allegations against them — and I have brought up a few — one thing was certain: Bytecoin wallets always worked. Never, did I have trouble with them. Not once.

And yes, I’ve seen and read a lot of complaints about the long sync times. But I tell you, from one cryptohead to another, I’ve installed the Bytecoin wallets on many a machine and they always worked.

I’ve been more partial to Monero and even Aeon over the years, but you know what? I had trouble with their systems. They worked, but they were not geared for mass adoption. They are getting better, however.

What does this mean?

It means, that although I might have some indigestion about Bytecoin’s past, if I just need to send some crypto fast and be certain it arrives or is received, I can trust Bytecoin to deliver. I can trust Monero as well. Aeon too.

As for Electroneum? ETN’s. I’m done with them — for now.

After their recently flawed grand opening, their paper wallet holding-pattern, then their web wallet that is slower than a crippled dinosaur?

No thanks. Been their done that.

I’ve waited long enough.

I’ve had my fill of bad service, slow service — even if it works. And the Electroneum online wallet does work. It’s kind of hinky, a bit unprofessional and…did I mention…slow? It’s worse than watching my grass grow.

It will not surprise me if ETN’s learn about gravity very soon. If they moon, and I really can’t imagine they will, it will certainly not be based on their great web wallet.

Watch out for the hype and the marketing.

I wish you well, ETN, but I’m off for greener pastures. For speedy wallets and real privacy.

This is my opinion of course, so don’t take it personally.


jgs

 

Ripple (XRP): Potential Windfall?

News Gem: Not Advice


Household Names?

The rumors are still flying, but in case you haven’t seen this gem, it’s pretty important.

Joel Katz — Chief Cryptographer David Schwartz at Ripple, let this one slip on December 11, 2017:

“Katz” was asked if there were any high-profile partnerships pending.

His answer?

“There are two huge ones I wish I could release. Non-Banks, household names.”

And of course, that is why, given other hints lately, that speculation is flying.

Thanks, Joel, I mean David. We are excited — well, I am.

This month, right?

Non-banks? Got it.

Household names? Why is everyone thinking Coinbase? That is not a household name.

  • Google
  • Microsoft
  • Facebook
  • Amazon
  • UPS
  • Paypal? (Probably Not)

These are huge non-bank, household names. (All trademarked too.)

Of these, which ones are most techy? Youthful? Savvy?

Microsoft already accepts bitcoin, but it’s expensive to use, right? Seems a logical next step to roll in Ripple.

Amazon’s bitcoin rumor has been swirling for a while. If they accepted XRP’s, it would be a boon.

Paypal already accepts bitcoin, but news has it that this revenue stream has slowed. It would be nice, however, if I could buy XRP’s via Paypal.

Google…more rumors.

What do you think and does it matter…if you can profit anyway?


jgs

P.S. As of 12/28/2017 — after publishing this short notice on 12/18/2017 — Ripple has almost doubled in value. Very unusual for Ripple…

Monero (XMR) NEWS ALERT!


THIS IS A MONERO RED ALERT!!!

 

In case you are not aware, Monero, via Reddit has just issued the following:

“…investigating the unusually high number of complaints of theft on MyMonero over the last week. The majority…of theft on MyMonero are related to phishing sites or malware, but there was an uptick in reports and Reddit posts towards the end of last week.

…we are actively investigating…and will update everyone as soon as we’re done. In order to ensure that we don’t miss anything, we are working with the good folk at MWR InfoSecurity.

It would be greatly appreciated if people can be redirected to emailing support@mymonero.com instead of posting things up on Reddit, otherwise it’s difficult to keep track of everything.”

Link to MyMonero.

If you have a balance there, I recommend you check it.

I’m sure that the Monero folks don’t want everyone to panic, but I would expect a pull back in the price now.


jgs

Electroneum to Overtake Bytecoin: Speculation


Taking the deep dive, you will find the black pearl?

This is a second look…

Finally, Electroneum (ETN) appears to have some action. It seems to be drifting off…again. It’s what you might call a long shot, in the semi-private cryptocurrency “industry.”

And it could easily overtake Bytecoin. Personally, and I know a lot of folks love Bytecoin, I think it will eventually shuffle off its mortal coil, however. In any event…diversify.

As you may recall, ETN’s are based on the CryptoNote/Monero protocols. But where Monero tends to stay completely private, leading to accusations of criminal, as well as having privacy and security benefits, Electroneum is gambling that it can eject the criminals — in my view.

How will Electroneum keep your funds private, if they are a known entity? Good question.

If all of your altcoins are stored in the ETN database and/or cell phones, it seems only obvious that investigators chasing drug dealers (and tax evaders) need only serve a search warrant and require Electronueum turn over records.

However, by comparison, that extra layer of protection also keeps everyone else from watching where and how you spend your cryptocurrency.

Bitcoins are far easier to trace. That’s why businesses have not adopted them on a large scale. They seem to be more partial to Ripple XRP. (Hint?)

ETN’s are by nature, untraceable. More cash-like. And people oriented.

Monero XMR’s are even more secure than Electroneum ETN’s. The trade off is customer service and known players. We know who runs the ETN business. And we hope it is easier to use than Monero or Bytecoin — and that it will be accepted by retailers.

So, with ETN’s, we actually have less privacy than XMR’s, but far more than Bitcoin and clan. That goes for Ethereum, Litecoin — you name it — as well.

“…security and privacy…”

It is only when you venture into the CryptoNote coins that you begin to think “security and privacy.” And there are a few other non-CryptoNote altcoins now that attempt to secure your altcoins, but they are not necessarily as time tested.

When they first debuted in November 2017 (when we could buy them on an exchange)  Electroneum came with a tad of hoopla. Starting out at about nine cents (US) each, they spiked to over 23 cents in short order. That seemed to say that they were on the right track.

But what happened? They were attacked.

Somebody hit them with a Denial of Service (DDoS) attack. Why? Was it jealously?

Now, this kind of DDoS attack is the chicken’s way of hitting back. It is a last resort blunt force action by those who simply overload the system. It is a criminal act. However, it can also be used to cover-up and hide the real hack. Hence, the Electroneum action to ensure that there was no long lasting damage by pausing services…in my opinion…was a good one.

“...two cents…”

By the end of November (2017) ETN’s were still trading, but down to two cents each. The attack did have consequences. (I hope that any big short-sellers were scrutinized.)

Then the weeks dragged on. Electroneum sent out news updates and advertisements. Apologies came. Momentum was lost. Dull.

And we waited. In the meantime, trading continued, and you could send or receive your ETN’s very easily — as far as we were aware. I mean, you could, and I did, but I was not sure if they arrived in my wallet. But they did and all was well.

“…40 million…”

A firm (Hackerone) was hired to check the ETN “books” (their code etc.) and they probably crossed their fingers. There was a lot of money riding on ETN’s continued  success. About 40 million, but I’ll wager there was a lot more.

It was a bold move to bring in a top company to essentially clear your name. It told the world that Electroneum was serious. They were not scammers. And that they were willing to stake their millions on it.

By the end of November, ETN trading began to pick up again. Even as the coin lay in a sort of limbo, and as the scam-coin accusations flew, the climb in price continued. Still, the promised web wallets were offline.

By mid-December 2017 ETN’s passed 13 cents and things were looking up. But the ETN’s cracked-up again. It is possible that many investors had had enough and dumped.

ETN was now in the nickel store. A whole five cents in value. It seemed that the DDoS attack had succeeded.

A few more days passed. ETN’s drifted.

The December 13 “relaunch” came and went. It did not look good.

Then yesterday happened, December 17, 2017. ETN’s began to climb again. To six cents, then seven, then nine, then…down…

Currently, you can only buy ETN’s at Cryptopia. And I’m not advising anyone to buy them.

And don’t knock Cryptopia too much, but I hope that other exchanges will soon offer ETN’s. If so, it will help to stabilize the coin as well as prevent it from becoming a captured product — like a monopoly.

As I have mentioned before, Bytecoin was the first privacy altcoin on the market, but it has some allegations against it. The stink of it has floated around the net for years. Clung to it, but it was not so much about the protocol.

In fact, the Bytecoin protocol was later investigated formally, by a Monero hired reviewer and it was generally positive. It was about the alleged 80% premine, that has stuck to Bytecoin like a thorn.

If the premine is true, and there have been alleged denials by Bytecoin Team members, it could be devastating for investors if the original anonymous developers decided to cash out. And that has always been the problem. No identifiable person has ever stepped forward, verified he/she developed the code, and proved otherwise.

And that’s not all the problems Bytecoin has had. There are concerns that the original team is a fraud — a fiction. Not one of them has ever be verified. That the altcoin was sold to other to developers, is another allegation. That Cryptocurrency Exchanges have had problems with it and de-listed it. Cryptopia, for one. Yet another problem.

But the new money is flowing in and Bytecoin has recently soared in value. I think this will be short lived, as investors will once again be fleeced, as BCN’s deflate.

Where will that money go next?

“…Bytecoin’s coming sell-off …”

Monero (XMR) developed from the “ashes” of Bytecoin and they have been very successful. Most of their developers, like those on the Bytecoin Team are unknown, however. So, will Bytecoin’s coming sell-off that I am predicting, go into Monero?

The next choice, in this venue, might be ETN’s. I think they will overtake Bytecoin.

It is not such a crazy idea. That is, after the initial ETN investors (not me) recoup their investment by selling.

This one looks like a HODL, to me.


Note: For the record, this writer does hold a small amount of Electroneum and all of the above words are personal observations, having little to do with fake news.


jgs

%d bloggers like this: