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  • Geebo 7:42 am on July 24, 2019 Permalink | Reply
    Tags: , cryptocurrency, , Libra coin,   

    Scammers have gotten out ahead of Libra’s launch! 

    Scammers have gotten out ahead of Libra’s launch!

    If you’re unfamiliar with cryptocurrency it’s essentially a form of digital currency that is not centralized through any bank or nation. Bitcoin is the most notorious of these cryptocurrencies. Since Bitcoin is decentralized its value has wildly fluctuated over the years. While there are those who have made a virtual fortune through trading BitCoin the cryptocurrency craze seems to be on a downswing as many competing cryptocurrencies looking to copy Bitcoin’s relative success have flooded the market. One of those cryptocurrencies is set to be launched by Facebook which they have dubbed Libra. While Libra is some time away from launching, that hasn’t stopped scammers from trying to take advantage of speculators by fraudulently using the Libra name.

    According to reports, a wave of scammers has gotten out ahead of Libra’s launch claiming to be official sellers of Libra. Unfortunately, Facebook’s own platforms such as Instagram, Messenger, and Facebook itself are being used to perpetrate these scams. However, in Facebook’s defense, these scams have also spread to Twitter, YouTube, and the web at large with a number of websites claiming to be affiliated with Libra. Some phony outlets are even claiming to give discounts on millions of Libra coins. As you’ve probably guessed, these scams are designed to only take your money and give you nothing in return.

    Investing in cryptocurrency is like investing in any other financial market. You should only do it if you can afford to lose the money you invest as not all investments turn into profits. That’s not even taking into account that Libra seems more like a way to spend money globally rather than an investment type of cryptocurrency. So if you’re actually interested in using Libra once it launches, you’ll have to wait until 2020 before you can purchase any. No matter what someone online tries to tell you.

  • Geebo 8:00 am on May 14, 2019 Permalink | Reply
    Tags: , cryptocurrency, Flexa, , SPEDN   

    Is cryptocurrency ready for retail? 

    Is cryptocurrency ready for retail?

    Even with its volatile fluctuations in value, it seems that cryptocurrencies such as Bitcoin are here to stay. It seems that cryptocurrency is no longer just the method of transaction on the dark web as it continues to gain more mainstream acceptance. Cryptocurrency enthusiasts have long dreamed of a day where they can use their Bitcoins or any other number of cryptocurrencies, to purchase everyday items such as their morning coffee or a pizza. That dream is now becoming a little bit closer to reality.

    15 retailers in America have signed up for an app called SPEDN that is said to allow users to spend their cryptocurrency in brick and mortar stores. Some of the retailers that will begin accepting cryptocurrency are Bed Bath and Beyond, Ulta, Barnes & Noble, Baskin Robbins, Crate & Barrel, Express, GameStop, Lowe’s, Nordstrom, and Regal Cinemas. SPEDN is attached to the Flexa global payments network.

    However, what remains to be seen is how these retailers will be able to keep their cryptocurrency stockpile secure. Retailers are not the most secure companies as a number of them have been subject to massive data breaches that exposed customers’ information. Since cryptocurrency has been known to be stolen through nefarious electronic means will consumers turn against cryptocurrency once a large amount of it has been stolen from one of these retailers? While a good idea in concept maybe cryptocurrency isn’t ready for retail just yet until the security aspect of it can be addressed.

  • Geebo 10:23 am on March 2, 2018 Permalink | Reply
    Tags: cryptocurrency, LeadInvest, Ruth Bader Ginsburg,   

    Texas cryptocurrency scam creeps up on craigslist 

    Texas cryptocurrency scam creeps up on craigslist

    Supreme Court Justice Ruth Bader Ginsburg

    For years it’s been debated whether or not cryptocurrencies such as Bitcoin are a worthwhile investment. Whether it’s due to the massive amount of power consumption needed to mine for cryptocurrency, its volatility in the current market, or its reputation for being the currency of choice in the trading of illegal goods on the internet, cryptocurrency has a less than stellar reputation among many investors. Now, the lure of easy money in the crypto market is being used to potentially scam investors out of their actual money.

    The Texas State Securities Board recently ordered a cease and desist order against a company called LeadInvest who claim to develop trading software for cryptocurrency. The reason for the C&D is because the company is allegedly misrepresenting itself by falsely claiming a number of famous people are on its management team like Supreme Court Justice Ruth Bader Ginsburg, among others.

    One of the reasons the state of Texas became involved was because LeadInvest was said to have flooded craigslist with ads for their services targeting residents of the Lone Star State. If you see a cryptocurrency ad on a less than reliable website like craigslist, think of it like those ads on daytime TV trying to sell you physical coins as an investment option. They’re usually not telling you something that’s in the fine print that shows you how worthless the investment really is. Even under normal circumstances, cryptocurrencies are a highly risky venture. If you decide to risk money on such an investment, always be aware of the inherent risks involved and never invest money you can’t afford to lose.

  • Geebo 10:00 am on December 12, 2017 Permalink | Reply
    Tags: , cryptocurrency, wallets   

    Beware of fake cryptocurrency wallet apps 

    Beware of fake cryptocurrency wallet apps

    Cryptocurrenices like Bitcoin have been in the news a lot lately. From its volatile increase in value, to people becoming Bitcoin billionaires, to millions being lost in hacks and theft, to people mortgaging their homes in order to buy into Bitcoin have been hogging the headlines for the past few weeks. With cryptocurrency popularity at an all time high, it should come as no surprise that some people are looking to make money off of the cryptocurrency craze in some not so legitimate ways.

    Much like real currency, or analog currency if you will, cryptocurrency needs a place where it can be stored safely and securely. These exchanges or clients are often referred to as wallets.

    Recently, some people have been listing phony wallet apps on the various app stores that appear to be connected to certain cryptocurrencies, but are not official apps. These apps could compromise your personal information including the private keys to your wallet which could result in the loss of your cryptocurrency.

    If you’re looking for a crpytocurrency wallet app don’t go to the app store first. Instead go to the official website of the cryptocurrency exchange of your choice. There, they should have a link to their official app where you then can download it. This goes for many banking and financial apps as well. Don’t trust the app stores to provide the official apps when so many knock off apps exist.

  • Geebo 10:19 am on December 8, 2017 Permalink | Reply
    Tags: , , cryptocurrency   

    Is crytptocurrency the future of classifieds? 

    Is crytptocurrency the future of classifieds?

    Cryptocurrency Bitcoin has been in the news a lot lately. Mostly because since the beginning 2017 it has increased in value from $1,000 to a record high of $17,000 with many people and experts saying that a crash is inevitable. Either way, cryptocurrencies seem like there here to stay. While they haven’t been universally adopted yet as an online payment method one classifieds site has made it easier for their users to accept cryptocurrency.

    Craigslist recently, and quietly, added an option to their ads where sellers can say they’re ok with being paid in cryptocurrency. While many see this as an advance in technology, it can also be seen as yet one more avenue into fraud. Bitcoin exchanges and wallets are susceptible to hacking and there have been several stories in the news where millions of dollars in Bitcoin have been stolen. If these hackers use stolen Bitcoins through craigslist that can almost be seen as a form of money laundering.

    That’s not even taking into account that Bitcoin seems to go against one of craigslist’s core values. Craigslist tries to tout itself as being socially responsible yet the mining of Bitcoins uses so much power that the energy needed to generate one Bitcoin could power nine US homes for a day.

    While it seems craigslist has been bitten by the Bitcoin bug, stick with cash and also use a classifieds site that isn’t filled with a plethora of fraudulent ads.

  • Geebo 9:06 am on September 26, 2017 Permalink | Reply
    Tags: cryptocurrency,   

    Websites may be using your computer to mine for cryptocurrency 

    Websites may be using your computer to mine for cryptocurrency

    Advertising and the internet have a contentious relationship to say the least. While advertising is where the majority of content creators make their money, there are many drawbacks to taking in advertiser money. Many advertising programs, like Google’s Adsense, seem to have arbitrary policies that see some creators penalized while others do not for providing similar content. Not to mention that one only need to look at YouTube’s recent adverting restrictions that users have referred to the as the ‘Adpocalypse’ to see advertisement money can disappear at a moment’s notice. With those dollars disappearing, a number of content creators have turned to cryptocurrency mining.

    It was discovered recently that a number of websites owned by television network CBS, had code injected into their websites that ‘borrowed’ processing power from viewers’ computers in order to help mine concurrency for someone. In this instance, it was reported to be the cryptocurrency Moreno. It’s viewed as a more private alternative to the more popular Bitcoin. While the injection of code into CBS’ websites may have been perpetrated by a bad actor, that hasn’t stopped some websites from using such code on unsuspecting users. Mining cryptocurrencies requires massive amounts of computing power, so it should come as no surprise that some less than legitimate websites have begun using this tactic.

    Not all hope is lost though. There are ways to protect your computer from having its computing power leeched for the benefit of someone else. Many of the popular browsers have extensions that will block mining code. A number of the most used ad blockers already block the coin code and a search for coin blocker should turn up a few more.

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