Still, good old fashioned methods of separating people from their money have not disappeared.
A new example of this comes from China where a man allegedly made about $15 million by just appealing to people’s greed, promising mining hardware at a huge discount, and simply running away with the money.
Mr. Zhang, a resident of Anhui province in his twenties, has been arrested for allegedly defrauding almost 100 million yuan from fifty victims over a three month period, state media China Central Television (CCTV) reports.
Would you trust anyone that promises a mining rig at a third of the cost?
Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.
The China Center for Information Industry Development (CCID) released the second iteration of its monthly Global Public Chain Technology Evaluation Index. As part of the Ministry of Industry and Technology Information, the CCID is releasing the monthly reports on behalf of the Chinese government.
The beating heart of many major cryptocurrencies is not the developers that help build them, but the community surrounding them that support crypto-brands through each inch of their life. As an overall community, cryptocurrency is full of very passionate people, though this should be no surprise given that people have their money on it being a success.
For a generation brought up on Wall Street, Wall Street: Money Never Sleeps and The Wolf of Wall Street, the world of finance seems very appealing. Sports cars, tailored suits, slicked-back hair are de rigueur; the parties are bacchanalian, plentiful and full of inveterate winners; work and drudgery is a life experience reserved for other people.
Ukrainian police have arrested a group of four men suspected of running six fake cryptocurrency exchanges, Bleeping Computer reported June 21. Four men between ages 20 and 26 allegedly launched at least six digital currency exchanges, where they deceived users, subsequently stealing money from them.
Earlier this week, the Bank of International Settlements (BIS) in Switzerland issued a new document as part of its annual economic report that warns citizens of the dangers of digital currencies.
Chris Briskey, the owner of a shop in Yakima, Washington, purchased a Bitcoin ATM in April this year. Soon, the ATM began attracting those who purchase, or are interested in purchasing, Bitcoin from all over the state.
The first phase of a transition toward a true “money of the people” will be implemented by central banks themselves, striving and competing to remain relevant in a post-crisis, post-trust, digitally connected global economy.
That’s because while they first got noticed when CryptoKitties went viral, NFTs continue to garner attention from entrepreneurs. And it’s not just digital sports cards, just like it wasn’t only about digital kittens, that makes industry stakeholders salivate over NFTs.
All Cypherpunks value privacy; it’s basically the founding principle of the collective of cryptographers, academics, developers and activists grouped around the 1990s mailing list by the same name.
There is substantial controversy surrounding Tether, a cryptocurrency that claims to be pegged to the U. S. dollar. According to Tether, each Tether token is backed by one U.
It enables peer-to-peer transactions where the responsibility for validation of transactions via technology is transferred to a community of users. Bitcoin, at its heart, is the taking-back of the monetary system by people who no longer trust government and financial players.
Western Union Co. CEO Hikmet Ersek said the global money transfer service will not add a cryptocurrency transfer solution to its services anytime soon, MarketWatch reported June 13. People aren’t paying their hospital bills in cryptos.
Money is always on our minds. Even when things are good, most Americans invest a great deal of time worrying about or dealing with their current financial situation. Being financially secure not only grants peace of mind, but is not always easily obtained.
Canada’s government has released draft regulations for “virtual currencies” with a consultation period of 90 days, saying that proposed regulatory changes could mean a loss of $60 million over 10 years for businesses that deal in cryptocurrencies but will improve Canada’s international reputation and make it easier for crypto businesses to deal overseas.
David Schwartz, the Chief Cryptographer at Ripple, spoke at MoneyConf earlier today about the Internet of Value. In a conversation with CNN’s Ivana Kottasova, he spoke about his vision for a world where money moves as fast as information does today.
New York Times bestselling author Christy Whitman (media features include the “TODAY” show, People, Woman’s Day, Seventeen, Teen Vogue and more) picks up where The Secret left off in Quantum Success: 7 Essential Laws for a Thriving, Joyful, and Propserous Relationship with Work & Money (Simon & Schuster’s Atria/Enliven Books; Sept. 2018). While The Secret […]
South Korea just ruled that bitcoin is a legally recognizable asset, which is good news for investors, but not such good news for convicted criminals that had managed to hold onto their cryptocurrency in the past.
With the creation of Bitcoin and its blockchain, Satoshi Nakamoto introduced an entirely new practical application for cryptography, unearthing an unexplored area for computer science and technological development.
A shift in the digital currency environment may occur due to Russia's latest decision to utilize the Chinese yuan instead of the U.S. dollar in trade settlements with nations in Asia, Africa, and South America.
Recent events in China indicate the country’s paradigm shift concerning digital currency. The digital yuan (e-CNY) is gradually forming a significant part of the Chinese currency through its rapid development.
Amid the ongoing global CBDCs adoption, China proposes an Asian-wide digital currency to reduce the continent’s economic reliance on the US dollar. USD is unquestionably the most widely used international currency.
In contrast to many other nations, China has adhered strictly to a zero-COVID policy, resulting in the repeated shutdown and closure of non-essential enterprises in key financial centres such as Shanghai.