This is extremely untrustworthy.

You promised a date to your investors, therefore, you should deliver before that date. It's not just a day or two worth of delay either. It's been 4 days so far and there is still no trace of your team on your official website thus far.

And yet, you guys have started to ask for investments from investors already, even though apparently you guys aren't on the same page yet. This is very irresponsible to do, and raises suspicions over your intentions.

I'd suggest anyone wanting to invest to be extremely careful as the team have already failed to deliver on their first promise. Personally, I don't find their Ethereum 3.0 idea any bit interesting anyways. But at least wait until they release their team info, and that info also gets cross checked, before investing.

There are some pretty shady promises put out.

An insurance fund of $1 million that apparently is able to be afforded by a newly started up company, with some guarantees of high profits, as well as a structure which involves various investment plans that are HYIP like.

There are no solid proof that they are actually mining. Even if they have this twitch livestream that would allegedly prove that they are actually mining, it is only showing a few racks of miners - definitely not a guarantee that they are backing every contract that people buy with actual miners. They could have well bought just a few miners to make it seem legit.

There's just nothing legit about the site. There is way too much risk, and it's very unlikely they'll turn a profit in the long run even if they are actually mining. Otherwise, they'd keep this investment opportunity private.

Yep, I'd say that since you're verified already, it's very likely that they are suspecting you of suspicious trading activity, or a breach of the terms and conditions. It makes no sense why they would ask you to verify your account again, though, as you'd simply provide the same docs that you previously gave them.

You should definitely clarify with support why they are continuously freezing our account, and demand an explanation on their part. Otherwise, they may continue to freeze your account without any explanation. As many others have said, I can also testify personally that poloniex since last year has been always consistently one of the worst exchanges available, based on their site functionality, constant deposit/withdrawal issues, and slow support.

The amount that you have in there is definitely a lot. In future, don't store significant amounts above $1k on exchanges, as there is just too much counter party risk. Any exchange can have issues, just like poloniex right now.

The silver standard is definitely a think of a past now.

Previously, money was literally associated with silver as an element, and it has always performed a similar function to gold.

I do think that bitcoin is going to take over, or replace many of the functions of precious metals as a currency. In the future, people seeking a hedge against the continued depreciation of government issued currencies will most likely favor bitcoin as a store of value instead of silver, or gold.

That doesn't mean that silver can't be a viable long term investment - it is probably still culturally significant to a lot of people around teh world, and will likely hold its value much better than fiat come a inflation crisis somewhere. Its industrial uses are obviously there as well, and it's unlikely they will be replaced, with silver being one of the best conductors of electricity. But bitcoin will be seen as a safe haven, just like silver, in the future, and silver's role as that may be diminished.

I doubt that it would rise if the markets continue to see alts and ICOs as a more volatile, faster way to make gains on investments.

When there is a bull market, usually investors tend to favor alts. Bitcoin obviously still rises, but the altcoin rush that happens within bull markets will pretty much outpace the growth of bitcoin, leading to an overall decline of bitcoin's market cap in relation to the rest of the cryptos.

I do think that bitcoin is going to be the best investment in terms of crypto in the long run, and in the long run, we'll see a gradual increase of BTC dominance back to the 70-80% region at least. However, this will only happen after the hype surrounding other cryptos dies down, and people realize that most of these are completely useless.

Is it that now you have to provide all your ID on registration?

Last time I checked, you were still able to hold an anonymous account on localbitcoins to start with, and as long as you don't exceed an unknown threshold amount of trading volume, you'd be able to use the platform (apart from creating adverts) without issues. At least I'm still using my account anonymously.

Don't worry about abuse of documents. Though, it is strange that they say they can't match your ID to a valid one in their verification system. Request for your info to be deleted if you want. In the meanwhile, try some other p2p platforms which don't require this ID verification, or even trading on the forum on the currency exchange subforum/board. Make sure you're always protected by escrow, whatever platform you choose.


Agreed completely. LBC has gone to crap after having overly strict verification rules, even though it may be the result of regulatory pressure more than their own choice.

Exactly. I think that ultimately, it's up to people themselves to figure out that cloud mining is not going to turn them even just a return on their investment, let alone any profits, and most of them could be classified as scams that is probably very questionable when it comes to actual mining.

And what is a change.org petition going to do? Pretty much nothing. It's not legally binding. People who are misled by youtube channels into investing aren't going to even see these petitions. Hashflare has gone scam ages ago when contracts were tampered with without consent from the users, yet, people still continue to invest for some reason.

Besides, it's just one company out of the sea of hundreds of the same structured schemes flying around at the moment. You really think that getting HF to pay out will mean that all of the other cloud mining scams will suddenly cease to exist, and give an ROI on everyone's investments? Hell no.

I'd say that yes, the crash this year seems to be relatively resemblant of the 2014 scenario.

If your father is suggesting that bitcoin would not be able to make a recovery from the bear market and establish a new all time high in the coming years, then I think that he is wrong. BTC is in its infancy still, and we're nowhere near the level of adoption and institutional investment in my opinion that we'll going to see in the next decade as bitcoin's user base continues to grow.

I think that prices will most likely start emerging out of the bear market by 2020, when the historically bullish halving event will be able to increase the level of bullish sentiment within the market. We're actually not seeing a decline in institutional interest, but rather the opposite. Despite the bear market, there is a general increase in institutional investment and development plans relating to bitcoin. That's why I believe buying now, at a level below $7k, is a good investment decision.

With all the regulations that are here at the moment within the crypto space, whether on ICO investments, exchanges, even on P2P trading platforms, it's no surprise that this is the case.

We have here a case where the media is always trying to portray bitcoin as some kind of underworld currency, which it really isn't. Bitcoin is used by mostly just average Joes sitting behind their laptops and transacting or investing in the currency. Sure, it does have some illegal uses, but that's with every currency - including fiat itself, issued by the government. You can't blame the currency for people's actions using it.

It's very interesting news, though. Even though this clears up a lot of the misconceptions people had about BTC, it shows another issue of over speculation on bitcoin. More adoption is definitely needed for bitcoin to be considered widely to actually be a viable global currency, and i have full belief that it's only a matter of time this happens.

I have no idea when the next economic crisis is going to come, nor what the root causes of the potential crisis is going to be, or what would happen within that crisis. All I know is that it's going to come sooner or later, and it's only a matter of time.

With a debt based system like this, it is clearly unsustainable. We've already seen a near-depression in 2008, and we could see one in the next decade (not saying that it'll happen for certain). We could even see hyperinflation happen in some more countries where the government mismanages their respective economy, that's a possibility as well in which gold and bitcoin could be seen as hedges.

Bitcoin, being an independent asset would definitely be considered a safe haven within times of economic crisis, imo. I expect it to even outperform gold, come a hyperinflation like we're seeing in Venezuela right now. It will definitely hold its value as well during a recession, at least much better than certain currencies and properties/stocks, if those collapse as a result.

Zero doubt that this is a scam then. Even the seattleheadshot site has verified this (even though they can't identify who this really is, they've still stated that this person is not what Digithoth claims it to be (their CEO), which is more than enough evidence.

Overall, the site is very sketchy even without knowing the fact that their members are false. Like realistically, who needs a payment gateway for the book industry specifically. Seems a very far fetched idea that will never be able to generate any interest, even if it was legit. Rather, it's just a poorly thought out mission statement that is used by the founders to lure in unknowing investors.

I think that since fake linkedin profiles have been created, this can safely be classified as identity theft. have you tried reporting this info to seattleheadshotpro so that they can notify all the people who got their photoshoots ripped off? They have the right to know that someone is exploiting their pics for purposes of ID theft.

I fail to see how insurance is able to solve the basic economic problems around the world.

For example, there is a large population of unbanked population and I'd say that that is one of the most crucial economic issues that needs to be addressed. Having private insurance for them would be a luxury, yes. But even if they had insurance, but no access to basic banking services to allow them to save money, take out loans for their business, or connect with international businesses, is insurance alone going to change all of that?

Also, you have to understand that insurance is offered by companies that make a profit. It's not some massive charity that they're having here. I'm sure that insurance is nice to have, but that's probably the least of anyone's concerns if they their country's economy is collapsing, and they need to protect their wealth from a collapsing fiat.

On a side note, bitcoin addresses a lot of the problems that I've mentioned above. Especially providing economic services to the unbanked, and helping them to connect with international employers.

Exchanges could argue the opposite - when you deposit, their only obligation is to keep whatever amount of whatever crypto safe for you and facilitate withdrawals. There are nothing that states that they have to give you something that isn't even in the initial terms of the deposit.

It seems industry practice anyways for exchanges to not give customers forked coins. The costs of extracting all the small forks is probably too large anyways for just a measly few bucks on average for each customer.

If an exchange doesn't pay up for a major fork, e.g. BCH, that's a different question altogether. In that case, I think that suing them could be a viable option for sure. The legal pressure could potentially mean that exchanges will comply with customer requests to avoid legal trouble, like in the case of Coinbase and BCH.

It's a phishing site for sure.

The site logo design is definitely copied from the actual burncoin.io site. So is the team, which is the exact same as the burncoin.io's. It's no coincidence that the site in question has similar names, it's solely for the purpose of phishing.

Also, while the Burncoin.io ICO has not even started yet it seems, the phishing ICO has already started its own public sale. The figures on the phishing site regarding the amount raised for the public sale is obviously completely false as well.

Burncoin.io even has an announcement and warning against these types of phishing sites when you visit their site.

Never heard of it before.

There has been a ton of scams selling mining equipment in the past, and I think that the probabilities of this one being just another incarnation of these previous scams is extremely high. Site was registered in Jan this year, and there has been no reviews that I could find.

Paired with the fact that apparently 3 newbies were shilling for the site, and now all their posts have been deleted is extremely suspicious.

It's too much risk to take. Don't buy mining equipment from people or sites that you don't know. If you do, use escrow. But escrow isn't available in this case, so it's much better to just avoid them altogether.

It is very likely that you've just been mass-mailed by a spammer/phisher with emails that are designed to look like Coinbase has sent them, but in reality, contain phishing links to a fake Coinbase account in hopes that you'll fall for their scam and send funds to their address and/or reveal your private keys to them.

Either way, Coinbase doesn't randomly register users and send them a email. That would cause a public outrage of breach of privacy, as no one ever consented them to send emails to random addresses.

Your email probably got leaked somehow when you signed up for a site and their email databases got leaked, or they sold your email to other people. It's quite common. Just ignore any email that does not seem normal, and ask the bitcointalk community if you need to.

No legit business, including localbitcoins, would ever call you and ask for your recovery phrase. Remember to never give it out (it's good that you didn't), as it is pretty much the private key that grants anyone access to your coins.

Either your email, localbitcoins, or computer is probably infiltrated by a hacker, as it definitely isn't Localbitcoins itself doing this.

I don't know how the caller managed to pull this off to this extent of co-ordination, but you should certainly be wary now that something is exposed to a hacker remotely. As designbuyers said, your priority now should be securing all your accounts and computer.

They have some pretty ambiguous rules.

Back in January there were reports of them saying that bitcoin mining is perfectly legal. However, fast forward to May, there were also reports of that the importation of mining equipment into the country is now banned.

So yeah, it's theoretically legal, but unless you know your way around Venezuela and understand the legality of bitcoin mining fully, I'd stay away from trying to mine there even with the cheap electricity. The government has shown that they don't really support any crypto activities other than their own Petro.

Another random ICO claiming that they have a major mining farm idea that will make investors huge profits.

You really don't need to look any further than this table:



The promise here is that if you invest $10k into Dunemining today, after 3 years, you'll receive $54k in return. Essentially a 440% net profit. That is completely unsustainable and a telltale sign that they are either a ponzi, or just some random scammer on the internet posing as someone knowledgeable about crypto mining to lure in investors, before pulling an exact scam.

The correlation between this site and veritas mining doesn't really matter. Plagiarism is something that is expected of ponzi scammers that have no intention of starting their own business model. Not to mention the fact that Dunemining lies about their partnerships with Nicehash, bitmain, antpool etc. It's certain that they are a scam, not even an "extreme chance".

Positive news does have an impact on prices. Even in bear markets, in my opinion.

However, the impact that positive news has on prices are probably significantly reduced in bear market scenarios simply because of the psychological nature of bearish sentiment circulating around the market. A single piece of news indicating that institutional investors may be interested in something bitcoin related simply isn't enough to spark major increases in prices in a bear market.

This can be observed right now, in this exact bear market. Prices aren't moving despite multiple news coverages that would be considered to be extremely positive within a bull market.

You can also see the opposite to be true in bull markets, negative news individually don't disrupt a bull market. Worst case scenario is that a temporary correction comes, but as the sentiment within the market is bullish, nothing major changes.