The domain is registered fairly recently in February, and I couldn't find any reviews or any info on their site that would indicate that they are legit.

Since their payment method requires you to send money first to them with an irreversible payment method, I would defintiely recommend against using them. It's an unknown compary with an unknown reputation, and even if there is nothing to indicate that they are a scam yet, you'd have to be extremely cautious.

I would personally stay away from them altogether. Their registration info for their domain is masked as well. There has been a ton of mining rig seller scams in the past and they are only geting more sophisticated in their ways of scamming people. The risk isn't worth it imo.


we're not saying that it's guaranteed to be a scam, but it's certainly very shady and a lot is unknown. In those scenarios, better safe than sorry.

Bitcoin is not an interest bearing loan.

Colletaral is only used when you've got someone who wants a loan, and it is filled with some sort of item with equal or more value held by the lender to liquidate in case the borrower defaults on the loan. That's what a collateral is.

Bitcoin is not based on debt. Bitcoin is a currency, and currencies don't need collateral to back it. For example, precious metals don't have collateral backing, nor do fiat currencies.

Though of course, bitcoin is much better as "money" and store of wealth compared to fiat because its supply isn't centralised.

There are two main reasons, in my opinion.

Firstly, the $6k support held up well despite the bearish sentiments, which prompted this rebound in the markets. I don't think that this will be the absolute bottom of this bear market, however, because there is no momentum right now to say that we're heading into completely bullish territory.

Secondly, Blackrock seems to be interested in entering the bitcoin sphere. I really doubt that it's going to have a long lasting effect on the crypto market, but the market certainly responded strongly to it.

To me, I think that this is most likely just going to be a short term rebound instead of a major trend reversal. The bear market doesn't seem to be over yet. Though, I'd definitely suggest for investors with spare funds to start buying on a regular basis regardless of the price, as we are very close to the bottom if not already there, and prices are extremely low even after this small pump.

People don't realise that bitcoin is in no way directly a path for money laundering. In fact, acquiring bitcoin without KYC and even proof of funds now is incredibly difficult. But centralised services are definitely facilitating money laundering, like this article suggests.

Anything that can benefit every day people, also has the potential to be abused by criminals. It's really as simple as that. In game gold/gems, app purchases, etc. are no different.

I never really understood the argument against bitcoin about it being used for money laundering. Obviously, there are a select few who use bitcoin for the wrong reasons. But there are way more criminals using centralised services to launder money or whatnot to their bank accounts, using fiat currency.

There were previous accusations of Spectrocoin's shady behaviour: https://archive.is/QUAuc. And if you take a look at the trust history of VytautasK (https://bitcointalk.org/index.php?action=profile;u=317543), you'll find that it's filled with negative trust.

So you've had this problem with Spectrocoin since last year? Why are you only coming out now and saying this? You should have complained in public a lot earlier.

Do you know the reason why they rejected your verification? The whole thing doesn't really make sense to me since your account was apparently already verified beforehand, but they are asking you to verify again? If you've done everything right, then it just seems to be excuses that they're making about compliance in order to hold customer funds for a longer time. But as far as i know, spectrocoin is definitely not some business that I would want to deal with.

BTW, please provide as much screenshots of the convos you had with support as possible. Them ignoring your tickets and taknig such a long time si definitely unacceptable under any circumstances.

Sorry for the loss, man.

Even if you did get the Amazon gift card from him, it's very unlikely that he obtained it from legitimate sources. If he's able to offer you such steep discounts, it certainly would mean that the sources of the cards are probably fraudulent at worst, questionable at best.

Never buy stuff without escrow, and never buy gift cards without receipts from an untrusted source. Make sure that your deals stay on forum. Also, this person is a known scammer, always do a quick search for the person's trust history and reputation before you make a deal.


Probably because OP didn't have an account, so he couldn't see the trust. That's the dangerous part of autobuy links and telegram sellers with locked threads, they primarily target newbies without an account to see their history.

There is a real possibility for bitcoin to serve as a global reserve currency, or the de facto alternative to fiat for global online payments. In that regard, bitcoin definitely has a global reach, and it is already benefiting workers and traders who are working internationally, as payments are just so much simpler with bitcoin.

Bitcoin essentially provides a better medium of exchange for those who need to transact internationally. Unlike fiat, you don't have to worry about exchange rates. Bitcoin is the same everywhere - as long as you have an internet connection, you can use it. This is also the reason why people believe that bitcoin can help the unbanked, which is 100% true.

But countries are going to exist, still. Bitcoin won't magically turn the world into one state. But certainly, it's going to make commercial activities internationally a whole lot easier.

What risks are you talking about here?

As long as you use bitcoin for legitimate purposes, and comply with laws (this applies to fiat as well), there is virtually no legal risk. If you're talking about volatility of bitcoin, then I think it's really a non-issue. Bitcoin may be volatile in the short term, but this volatility has gone down a lot in recent years because of the markets maturing. Besides, I'd rather hold bitcoin than fiat because bitcoin has a decentralized and limited supply, unlike fiat which can be debased easily.


So? If bitcoin was controlled by a state or government then it would be no different from all the fiat. The whole point of BTC is decentralisation.

They're 'exploring'. Nothing is guaranteed at this stage, I don't think. They might not add all of these coins either, they could consider only adding a portion of the coins that are listed on the blog post.

Personally I think it's a rather poor waste of resources and will further diminish their customers trust in them.

They are not working to resolve existing issues but rather trying to add more coins, most likely for profits, instead of working on bettering their support system which has been proven to be terribly slow, or trying to address ongoing problems with account suspensions or whatnot. Besides, with such a tarnished history with holding customer funds and being unresponsive, I don't really see a point in using their hosted wallet service rather than having a trustless wallet (even Exodus) for these coins that they are integrating, unless you want to exchange them with fiat.

Unknown reasons indeed.

Nobody ever knows it seems what's happening with the site. Even though they've changed their name from BTC-e to WEX, I think that they are still not a single bit more transparent than they were and just still an extremely shady site at best.

I don't know why people are still using them, and storing money with them after all the problems that the ran into with the US regulators and government. There seems to be no reason to be utilising their services anymore. Storing your money on WEX essentially means that you're subject to such kind of 'maintenance' which leaves your account essentially frozen, unable to withdraw, alongside a useless support. 1Referee puts this perfectly. It's insanity if you keep using WEX, tbh.

With adoption continuing to grow, and hence demand, along with bitcoin's limited supply and slow, disinflationary emission curve, it's really not a surprise that prices have continued to go up in the long term despite some rough patches here and there.

Dollar cost averaging in my opinion is definitely the best strategy for managing your investments right now.

This is just another bear market which presents a great buying opportunity as in my opinion, we are still extremely early as adopters. With prices this low, you can't really time your buys at the absolute bottom, which is why dollar cost averaging is such a great strategy. Prices are unlikely to fall much lower anyways, even though I don't think that $6k will be the absolute bottom.

Global trades can be indeed facilitated much more easily with bitcoin as a currency, since it exists without any borders.

And also since that bitcoin is independent of any fiat currency system, it is able to store its value, even in the short term, much better collapsed fiat currencies such as the Venezuelan Bolivar.

We'll really see p2p trades and even employment accelerate due to the global nature of bitcoin, in the future imo. No longer is it a hassle to send payments to a foreign worker that lives in another country and uses another currency altogether with bitcoin. BTC allows for a lot more opportunities in my opinion for trade to happen internationally between individuals without any third party, and cheaply.

To me, there is really no point in following mainstream media regarding speculation anymore. There are always going to be individuals that are trying to make outrageous predictions that will very obviously not come true by any means.


This part just made absolutely no sense.

Notice that most predictions that these people make have absolutely no basis whatsoever. I really am starting to think that these predictions are solely for the purpose of sensationalist headlines, self promotion and nothing else. With the current bearish sentiment, and the fact that there is virtually 0 momentum upwards, there is virtually no chance that we'll see an all time high this year.

It's not really up to the exchanges.

Regulators in countries are pushing these changes, and if centralised exchanges want to exist within a jurisdiction, then they're pretty much forced to comply with all of these rules. And with the tightening of regulations on many anonymous trading platforms such as Localbitcoins, restrictions on privacy coins on exchanges in the future is very plausible, and even probable.

I dont' think that a lot of people care for or even know much of privacy coins, at the moment. But if there was to be a speculative trend in the future with that, we may see regulators move to try restrict access to it faster. That's why I think that decentralised exchanges that potentially operate without fiat altogether are going to be inevitable.

We're seeing the $6k support currently being pretty steady.

There are two main possibilities - either the $6k support will hold for the rest of the bear market, and a recovery starts soon; or we may see $6k support being broken, and bitcoin moving further down beneath that level.

I think that the second option is more likely right now considering that we're not yet close to the time that it took for prices to recover in 2014. And given the extent of the overheating of the market that happened last year, I think that prices will correct further down and see more bearishness before stabilising, even though currently prices are quite stable at the $6-7k mark.

Good job as always, OP.

Interesting to note that, as suchmoon predicted, their site is currently down, and bitcointalk ANN thread is obviously removed as well. Thankfully there are still archives to prove that this scam existed, and people have been scammed.

Seriously, doing just a bit of research does wonders when investing in anything, especially in regards to the team that a project claims to have. The pictures that they took off stock images constitutes as identity theft, and sure enough, they also plagiarised Monaco's whitepaper. Hopefully less and less people get scammed by these ICOs, but that comes with community awareness. I tend to avoid ICOs altogether, since the space have become so saturated.

What's the difference of recgonising it as a commodity? I don't really understand that part.

If they're truly looking to lift the restrictions put in place by the central bank of India then I think it's going to be awesome. There are obviously no guarantees this is going to come through, so don't get your hopes up too high yet.

If they are going to lift the ban but put in an outrageously expensive GST then I don't think it'll do any good anyways. I'm not sure if this is the case with bitcoin apparently being treated as a "commodity" instead of a good, but it was certainly in the rumours previously.

Unfortunately, a legendary account means nothing when you don't have a reputation.

There are hundreds if not thousands of hero members and legendary accounts that are owned by scammers. Rank really means nothing if you don't a reputation, and in this case, he even got tagged before all of this happened.

Check the trust ratings of someone next time before you conduct business deals with them. Always use escrow, unless the amount is low ($150 is still a lot, and scammers will have their eyes set on you even if their ranks are high), or the person you're dealing with is extremely trusted.

Hopefully you learned your lesson. Don't assume anyone as legit before you do research here.

Is the user in question (https://bitcointalk.org/index.php?action=profile;u=2089831) the bounty manager or the owner of the project as well? I couldn't find anything that indicated that he's the actual owner of the project.

This is pretty obvious as a scam as they come, honestly. It's even called RubyCON.

After digging through their site for around 5 minutes I still don't understand what problem they are trying to address or what their purpose is. That's the first warning sign. Then, their team just didn't look like a professional team at all, and no surprises at the fact that they're all stolen identities.

Stop investing in these ICO scams. It's honestly so easy to just do a little bit of research, and if it doesn't seem professional at first glance, it's worth staying away from.

I don't really see how blockchain will necessarily "transform" the economy per se. It might be implemented on a large scale in numerous institutions, and cryptocurrency might see increasing amounts of adoption, but I don't believe that the way the economy is run is really going to change much.

Fiat currency is still going to exist, and central banks will continue to exist as well as long as there is a centralised government in place.

Bitcoin will be an alternative medium of exchange that will hold its value over time, unlike fiat currency. And when there is a true financial collapse across the board, bitcoin may even become the single dominant global currency. But for now, I think that it's much more plausible to say that blockchain and bitcoin will serve as an alternative that is much better and more immutable than the current infrastructure, which will see increased adoption in the future; instead of saying that it'll "radically transform the economy".