Dear Readers,

It has come to our attention that a cryptocurrency exchange, under the name of BiteBTC.com, has been FRAUDULENTLY using our name to operate and promote their exchange, cheating investors of their hard earn money through investments in cryptocurrencies on their platform. The footer of BiteBTC's website previously claimed to be operated by FinanceFirst Pte. Ltd and was located in Singapore with our rightful UEN identifier. After being alerted by various users, BiteBTC.com have since changed the footer of their website where it claims to be operated by a company named 'First Finance LLC', located in Seychelles (East Africa).

Investment Stab is a blog under the company, FinanceFirst Pte Ltd. We are not involved in any cryptocurrency exchange activities or stored value facility. Any activities by BiteBTC.com are not associated with or carried by us. As to reasons why our details and UEN identifier were listed and misappropriated by BiteBTC.com, this information can be easily obtained from ACRA (Accounting and Corporate Regulatory Authority) of Singapore by doing a search in BizFile. More details can also be easily purchased from BizFile at SGD 11.

When we searched for 'First Finance LLC', this company came up, and it is based in the United States of America (USA). It is evident that BiteBTC.com is probably using another company or is a non-existent company to continue their fraudulent business practice. No other information on its operating team or members were found on its website.

We have since lodged a police report against BiteBTC.com for theft of our identity and we trust that the police will investigate the matter. In addition, we were also told that there have already been several reports lodged against the BiteBTC.com for fraud.

In addition, we would also like to use this to educate our fellow readers on the issues surrounding cryptocurrency as an investment or trading instrument. Cryptocurrency currently operates in the legal grey area of many countries and is often not regulated. Due to the nature of technology, ambiguity and opaqueness are usually inherent where investors often do not fully understand its capabilities and promises. With such characteristics, combined with the promised hype of riches, it is a superior tool for scams and other illegal activities. We hope to warn readers and potential investors of any cryptocurrencies to carry out extensive research and exercise judgement on the accuracy of the information presented.

Investment Stab is a financial education platform. We aim to be the site where people can reach out to learn about personal finance, and we are committed to continuing towards that goal.
Thank you for your support.
We will keep you updated should there be any new findings from the police.

Thank you.

From:
The team at Investment Stab

Copyright © 2018 FINANCEFIRST PTE. LTD. All rights reserved. Consumer advisory - FINANCEFIRST PTE. LTD. (UEN 201706635G) the holder of FINANCEFIRST stored value facility, does not require the approval of the Monetary Authority of Singapore.

Copyright © 2019 First Finance LLC, Seychelles. All rights reserved. Consumer advisory - First Finance LLC the holder of BITEBTC stored value facility, does not require the approval of the Seychelles Financial Services Authority.

Is this information accurate?

These kids?

Here's the assholes that stole our money, including myself
I'll be doing more research to what else I can find on them, pursuing legal action etc. Most of the information I found of them I've screenshoted before it disappears

If these two want to resolve the situation you can start by returning all the money that you've stolen from your customers

REMOVED

Hi Subwoofer, sorry for bumping an old thread.

I’m looking to get into a p&d group.

Are you still recruiting members?

Get back to me ASAP please.

Regards

c

Of course that bitcoin and ethereum are the major cryptos and it will always be like this, but you should know that everybody is interested in just investing in more revolutionnaire and innovative projects, such as ICO's and other kind of projects that we are seeing everyday.

Rootstock is a smart contract platform implemented as a sidechain of Bitcoin. It provides a similar functionality than Ethereum, but using a token that is pegged to Bitcoin - so it doesn't affect Bitcoin's value/price because it's not competing with it.

A sidechain is an independent blockchain, but it provides a "link" to the Bitcoin blockchain. In the case of Rootstock we are talking of a "pegged" sidechain. That means that the value of the token (unit of value, "coin") of the Rootstock blockchain is pegged 1:1 to Bitcoin's value (1 RSKBTC = 1 BTC).

How does this work? Well, first for every token created in the RSK blockchain a Bitcoin is "frozen" on the main Bitcoin blockchain. That means that they cannot be moved or used while they are frozen. So there are never more RSK tokens than frozen Bitcoins - the Bitcoins are "backing" the RSK tokens. This way, you can transfer Bitcoins easily to the RSK blockchain.

The trickier part is the other way around - "redeem" RSK tokens for Bitcoins. That is an important mechanism for the peg to work, because it ensures that you get a Bitcoin for a RSK token every time you need it.

For this to work, the RSK coins must be "burnt" or destroyed and the account who "froze" the Bitcoins on the main chain then can "liberate" the Bitcoins again. You destroy a RSK token and get a Bitcoin from this account.

This is not possible in a decentralized way still (there is a Bitcoin "opcode" or "command" missing), so RSK's strategy for their first release is to have a "consortium" of different organizations controlling that Bitcoin account that "freezes" and "unfreezes" the Bitcoins that are transfered to and from the RSK sidechain. These organizations then decide to "unfreeze" the Bitcoins if they detect the RSK tokens have been burnt.

Litecoin just a copypaste? i agree, but this "copy-paste" has been the most succesfull copypaste that somene could created that has a value of more than 12 billion dollars.

And i agree with you about Zcash, zcoin, zCrap, and all the other cryptos that start with Z.

I think the concept behind bitcoin gold is flawed though
their reasoning behind the Equihash algo is preventing ASICs
because BTC mining now is mostly controlled by large companies with ASICs
but it be just the same with BTG, since large companies have a lot of money they can afford the most equipment

I have seen this option in several places

I have opened the link of yunbi market, but it was slow respond be accessed by smartphone devices especially android
do you have plan to targeting user's smartphone devices to be your costumers?
If yes, please fix this problem because the user's mobile devices will get the problem to access your service
and they will not use your market to trade digital coins on there. Thanks

Decent idea since Yunbi's got a big market within China and you could possibly take advantage of that.

However, since you're just building a Yunbi clone have you got Yunbi's permission to use their code? I think it is best to just develop your own site from scratch as it will be easier to customize in the future and plus, people won't confuse you with say, a phishing site.

Only thing is trust, why should you be trusted? You probably need to gain some more trust before people feel okay with depositing thousands of dollars in their savings to your website. Good luck otherwise.

As for building trust, I'm going to try be as transparent as possible, I'll post information about my own identity and several documents about the business. I'm currently planning on forming the company either in BVI or the USA.

We know for sure the datacenter where we'll be hosting the exchange is secure, we're positive we won't have issues like Bitmit. Currently all crypto wallets use cold storage, we're also looking at BitGo integration with BTC using bitgod https://github.com/BitGo/bitgod
Multiple keys are needed to access the servers, even if one of the keys was somehow compromised, it would be impossible for the hacker to simply drain the wallets

Also, we're planning on making it possible for users to verify solvency, it'll be pretty similar to the way Kraken does it

I think the no trading fee is going to be a great selling point. Whales can use your service comfortably without worrying about paying excessive fees.