- As far as online scams designed to steal money and information go, a site called darknetmarkets.org is very impressive and equally scary—not least because Google is currently serving it as a top search result for Bitcoin for all intents and purposes, is a “real” website.
- A sidebar contains links to the “top” sites to buy drugs on the darknet.
- CompariTech, a site that reviews and compares information security products, spotted the scam first and wrote up a blog post laying out their findings on Wednesday.
- Motherboard independently verified that several links on the site take users to sites that appear legitimate but have different URLs than the real versions and are stylistically out of date.
- Munson speculated that the site may be getting linked to by legitimate sites that don’t realize it’s a phishing scam, which may lead to the site being valued by Google’s search algorithm.
“This is probably the best phishing scam I’ve ever seen.”
Continue reading “An Elaborate Darknet Phishing Scam Is the Top Google Result for Basic Bitcoin Tutorials”
- There is an equilibrium value for bitcoin which is zero, like all fiat currencies,” he said.
- Buiter thinks bitcoin is purely speculative and “not something that ordinary mortals should get anywhere near” and contrasted it to fiat money and gold, which he previously said he would own as part of a diversified portfolio.
- “Gold has some intrinsic uses, fiat currencies issued by the government have at least a central bank that attempts to stabilize their value in terms of goods and services,” he said.
- And despite his opposition to bitcoin, Buiter is a fan of blockchain technology and thinks it may be used by central banks in the future to settle cross-border transactions.
- “We don’t know how well it will scale, but it could be very useful for transactions between central banks, for cross border transactions, for entities that currently use centralized ledgers to make such transactions,” he said, calling bitcoin an “unfortunate start” to the whole blockchain revolution.
Despite working for the biggest bank in the world, Willem Buiter is not a fan of money. He called gold a 6,000-year bubble and thinks fiat currencie
Continue reading “Citigroup Chief Economist on Bitcoin: Equilibrium Value Is Zero”
- Accounting and consulting firm EY, part of Ernst & Young Global Ltd, said on Wednesday it was launching a blockchain based system that will enable companies or groups of individuals to more easily share ownership of vehicles and access to cars and trucks.
- The concept of sharing the use of vehicles is not new to the auto industry, but the use of blockchain technology to record vehicle ownership, log the use of vehicles, and apportion insurance costs and other transactions is in its infancy.
- T>, for example, said in May that its Toyota Research Institute would work with researchers at MIT and technology partners including BigchainDB of Berlin, Oaken Innovations of Dallas and Toronto and Commuterz, an Israeli startup, to develop blockchain based applications.
- Toyota said it was also working with partners to develop usage-based insurance products using blockchain systems.
- EY’s Simlett said blockchain systems could enable shared use and shared ownership of large fleets of vehicles, such as a group of cars parked in a high-rise building that residents could use as needed, gaining access using a smartphone app.
The technology underpinning the cryptocurrency bitcoin is migrating to the auto industry and vehicle sharing. Accounting and consulting firm EY, part of Ernst & Young Global Ltd, said on Wednesday it was launching a blockchain based system that will enable companies or groups of individuals to more
Continue reading “Blockchain technology moves into car sharing, mobility services”
- Instead I will make a few observations about how an investor might think about the impact of ICOs / token launches on the venture capital industry, in particular, and some of the downstream ramifications that need to wrestled with.
- The ICO generates excitement and valuable incentives to contribute to the ecosystem which accelerates its growth and, as the ecosystem grows, the company has a cash flow formula that allows value to accrue to the equity holders of the corporation not just the tokens.
- If a portfolio company can raise money in an ICO and retain tokens that then rise in value, it dramatically reduces the company’s incentive to seek an exit.
- If the management team and employees receive tokens as part of their compensation plan and those tokens are highly liquid — as they should be after an ICO thanks to the meteoric rise of exchanges and crypto hedge funds — then the value of their compensation may be more through token value than equity value.
- Are investors and management as aligned as they are in a company that does not raise money in an ICO or do token sales create more opportunities for misalignment—which gets back to the issue of governance.
Goldman Sachs and CB Insights recently reported that startups have raised over $1 billion in Initial Coin Offerings (ICOs) this summer — more than the to…
Continue reading “The Summer of ICOs”
- Burger King has waded into the cryptocurrency market with the launch of its own virtual coin called “WhopperCoin” in Russia.
- With each purchase of the burger chain’s signature Whopper sandwich, customers can receive WhopperCoin tokens via a digital wallet.
- Bitcoin traders have previously gotten a lot of flak in Russia, with reports last year suggesting users could even face jail time under proposed legislation.
- However Russia’s First Deputy Prime Minister Igor Shuvalov has since shown support for cryptocurrencies.
Burger King has waded into the cryptocurrency market with the launch of its own virtual coin called “WhopperCoin” in Russia.
Continue reading “Burger King has launched its own version of bitcoin in Russia called ‘WhopperCoin’”
- Canadian securities regulators are taking a closer look at technology companies that offer digital currencies such as bitcoin to raise funds, to make sure they abide by the right set of rules.
- Similar to an initial public offering, or IPO, of a stock, a flurry of Canadian technology companies have recently raised money via ICO — initial coin offerings — in which digital tokens or coins are given to early investors in exchange for money, which the tech companies use to create their product.
- But while the digital coins being exchanged are often established cryptocurrencies like bitcoin or ethereum, sometimes they are something else entirely, which is why regulators are looking to clarify the rules to determine whether such fundraising deals should be treated similarly to equity investments, or more like conventional money — on a case-by-case basis.
- The Securities and Exchange Commission recently ruled that a major cryptocurrency offering known as the Decentralized Autonomous Organization, or DAO, which raised $150 million US last year, was in fact a securities offering, and as such breached the rules it should have been bound to.
- While broadly receptive to more clarity on the rules, many in the cryptocurrency world are wary of an over-reach by regulators that would see them treat all such fundraising plans as securities offerings when, in fact, they should be treated the same way other private currencies are.
Canadian securities regulators are taking a closer look at technology companies that offer digital currencies such as bitcoin to raise funds, to make sure they abide by the right set of rules.
Continue reading “Canadian regulators taking a closer look at murky world of cryptocurrency ICOs”
- For anyone wanting to begin their foray into this form of peer-to-peer transaction, which offers anonymity while simultaneously cutting out banks and other traditional third party financial entities, the first step is getting a Bitcoin wallet.
- Bitcoins are stored in a digital wallet, stored in the cloud or on your personal computer, which act like a bank account, letting you pay or exchange Bitcoins.
- It allows for cold-storage integrations with hardware Bitcoin wallets like Trezor or KeepKey, and has a unique feature to help manage your private keys as well as a secret number that allows Bitcoins to be spent.
- This multi-signature technology allows Bitcoin wallets to be controlled by multiple private keys and users.
- Bitcoin Wallet is the first mobile Bitcoin app.
If you’re into the future of digital payment, you’ve probably already heard of the cryptocurrency, Bitcoin. While Bitcoin is now incredibly difficult to …
Continue reading “10 Bitcoin Wallet Apps You Should Consider Using Today”