Joerg Molt is one of several individuals claiming to be the identity behind the pseudonym, Satoshi Nakamoto. He is also still operating what appears to be a Ponzi scheme from 2017, potentially defrauding seniors with a so-called ‘Bitcoin Pension’ plan.
Since the launch of the scheme, Molt has scammed an estimated 7,000 people out of at least 0.1 Bitcoin (BTC) each. At today’s rates, this is equivalent to stealing 700 BTC worth over $6 million. Though according to information released in a 2018 video, this could be as much as $25.8 million.You can read more here for the full newsThis is really bad. Ruining the reputation of the true Satoshi Nakamoto (not Faketoshi Craig Wright of course) to scam senior citizens with his “Bitcoin Ponzi” pension program. This one’s quite similar to the other ponzi programs that I’ve encountered here in the Philippines. I just don’t know guys, but scammers are innovative and creative in creating scams like this. This is so difficult to be stopped because of the innovative minds that these scammers have. What would be your thoughts about this one guys? Let me know. Cheers! This guy is really something isn't he, he's really starting to rub me the wrong way? People like this should be ousted but instead not enough light is shed to satop these criminals from scamming the ordinary average person who is ignorant of Bitcoin. there has been a numerous amount of opportunist like Craig Wright, Joerg Molt, and that one goofy looking Indian chap that had no idea what he was talking about. I am sure the list will continue to grow over the years. |
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In a recent statement, the People's Bank of China (PBoC) said that illegal crypto exchanges in China would not have a living land.
Specifically, the PBoC warned that it would take specific action against illegal crypto exchanges in the country and review all transactions involving cryptocurrencies and bitcoin.
PBoC is committed to handling and controlling cryptocurrency trading activities in China. Indicate that individuals and organizations who have illegal cryptocurrency trading activities will be handled according to the law.
The move by the PBoC is thought to be in response to the wave of strong investment in cryptocurrencies in the past few days in China, since Chinese President Xi Jinping voiced support for Blockchain making the delivery operations Cryptocurrency outbreak in China is booming.
In addition, to avoid misunderstandings as well as to restrain the increase of cryptocurrency activity The Chinese government recently had to reassert "Blockchain, not cryptocurrency".
Perhaps this is the explanation for the sharp decline in Bitcoin prices in recent days.
Do people have any comments on this?
The irony of china, don't they own the majority of Bitcoin through their collective effort in mining? I guess the plans for China to start issuing it's on state backed cryptocurrency just might have fallen through. What about cryptocurrency exchanges such as Binance, will it be affected by the crackdown. I thought it was because all of those pesky ICO's that kept cropping up but now China is talking about seeking action against on-shore and off-shore based exchanges or institutions that utilize crypto fin exchange & trade. |
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Hello i need to tell you what is coming guys  This is not 2009 i can understand so i'm going to work for the futur now. So governements going to create projects using 3 blockchain in 1 like ebay using blockchain and one other projects is going to peg Gold to Bitcoin for make people buy Gold, they are going to manipulate as much as they can for make them buy gold or go ther projects like XRP. If you want better life for your kids we need to explain everyone what is decentralisation and what is gold purpose and bitcoin revolution, dont let them win this. They are trying to destroy bitcoin using manipulation or other technology, i mean they invested bitcoin "governements" but when they do everything as they planed they will try to destroy bitcoin. Be strong mentaly. I think in that sometime within the near future the governments and regulators will have implemented some form of Blockchain technology into their economies as well as within their own systems, in order to update old technology and to play catch up with the innovation. I feel that nobody whether individual person, institutional investor, or governmental body wants to be left behind when the technology is here and making things cleaner, more transparent and efficient! |
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I’m no computer expert, but my understanding is that several years from now or even a couple of decades, quantum computers will be able to crack Bitcoin private keys therefore jeopardizing security or our wallets.
I would contend that the security of Bitcoin and altcoins is not the only thing we should worry about. All the passwords we use every day for bank accounts, emails, etc. will be much easier to crack than a Bitcoin private key. Those less secure passwords are the most vulnerable.
I think that as this becomes more realistic, there will be defenses put in place to protect all types of passwords, not just Bitcoin private keys.
Please share your thoughts and correct me where I’m wrong
Thanks
I think that there is a whole lot of Fear, Uncertainty, and doubt lingering around quantum physics, especially within the sector of computing. now, I know these threats should be taken seriously, but lets be real, most of our suspicions are based of science fiction dystopian future elements. The current state of quantum computers can do mind boggling calculations but are limited to a narrow field of use. Bitcoin will continue to be devolved and will most likely adopt some quantum proof protocol in the future, same as Bitcoin lighting upgrade, something will come that will help from these "what if" scenarios from happening! |
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It might sound like something straight out of Q’s laboratory or the latest Marvel film but a group of scientists in California have successfully created eye drops that temporarily enable night vision. Science for the Masses, an independent “citizen science” organisation that operates from the city of Tehacapi, theorised that Chlorin e6 (Ce6), a natural molecule that can be created from algae and other green plants, could enhance eyesight in dark environments. The molecule is found in some deep sea fish, forms the basis of some cancer therapies and has been previously prescribed intravenously for night blindness. More... http://www.independent.co.uk/life-style/gadgets-and-tech/news/night-vision-eyedrops-allow-vision-of-up-to-50m-in-darkness-10138046.html Wow this is exciting, it feels like something straight out of a science fiction movie. I doubt it's gets public commercial use, it sounds like it fits perfect for the military or game hunting uses. No more expensive night vision equipment, just drop in a few eye droplets and temporarily gain an extra sensory perception with your sight. It might sound crazy but I wonder if they can do infrared droplets. Maybe an echolocation droplet for the ears next, or X-ray vision like SuperMan  |
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I read this article online that the government could stop the Bitcoin? Easily using a simple trick. Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it. For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price. What is your opinion about this? Could the government do this? https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/Wow I guess that could be one potential way to attack Bitcion and cryptocurrencies a like. Another and more efficient way would be for the all of the Governments and banks to simply go through congress, lobby against Bitcoin heavy, then create new policies that stop the conversion of any cryptographic currency into fiat. How then will one expect to cashout? If you can't trade you digital coins for real fiat, your practically screwed! What could you do if all of your wealth was tied up in crypto and then you could no longer convert it? many would lose the shit off of their backs. |
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Is it really worth it to sign up to this Crowdholding platform? up until now, I've never heard of it, as the market is flooded with many similar sounding projects. Do you know of or have any reviews or examples pertaining to the platform? Is it one of those places that compensate you to take surveys, answer questions, etc, Micro-tasking? Do they only pay you in their Yup tokens or can you withdraw from your account into different cryptocurrencys?
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As of now, there are various cryptocurrencies with unique features that enables people to earn some money along the way. Most cryptocurrencies are PoS-based which allows anyone to earn money depending on the number of coins held on the wallet. I've toppled across several PoS coins that are highly rewarding, yet extremely risky because of the constant flux of prices within the crypto market. On the other hand, mineable coins like Bitcoin and Ethereum are also highly rewarding, but somewhat complicated to get ahold of if you're not accustomed with setting up miners on your own. The cloud mining approach seems to be much easier than mining at home, but most of the services available today are complete scams. Signature campaigns are a great way to make some money with crypto, but are not easy as they sound (since you're required to make quality posts over time). Which is why, I want to know what's the easiest way to make money with crypto today? Any recommendations or suggestions will be highly appreciated. I think the simple and most easiest way is to earn cryptocurrency is to mine by proof of stake. One could simply just hold while earning dividends but people only go this route if their looking toward long term investing. If one needs to earn steadily for a short term investment strategy, then scalping & day trading may be another way to make suitable extra income in crypto-currency. There was once a time where airdrops were totally worth it, but today's crypto airdrops seem like a waste of time. |
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Love when people say it's dead.Crypto is only 1 decade old. Just imagine a few years or decades more. Patience could really pay off on altcoins. I see it as a once in a lifetime deal. HODL, if you have money . Who risks nothing has nothing. It could happen again be ready or not.
As of today one Bitcoin is worth around $7800, not bad for an actual organic price. Many people are upset because the price isn't anywhere near $20,000 anymore. Thats silly because at that particular time, the price was heavily inflated and anyone who is an avid investor knew a bubble like that one a few years ago, was destined to pop. WHen it did deflate considerable=y. I'm sure many band-wagoners who jumped into crypto after hearing about the price rise had lost the shirts off of their backs. If one Bitcoin was worth next to nothing and now one is worth $7800, I'd say that there is a life changing amount to some people. I could use that to pay off my debts and buy a beater car off craigslist before the winter comes, they don't plow snow good in my area, so being a pedestrian suck!  |
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Original Post: https://bitflate.org/post/2019/11/20/why-create-a-cryptocurrency-in-2019.htmlBitflate is a cryptocurrency with constant inflation of 7% per year.It’s 2019. I’m pitching my idea of Bitflate, a cryptocurrency with constant inflation. I’ve got a lot of NO feedback. Investors tell me the age of tokens has passed. We don’t need more tokens. Crypto enthusiasts tell me I’m just forking Bitcoin. It’s been done so many times. There’s no new innovation. Bitcoin is the king of cryptocurrency. Ethereum is the king of token platform. Bitcoin has sidechain, Lightning Network. Ethereum has programmable blockchain. Everyone should start building on top of these platforms. We don’t need to reinvent the wheel. We don’t have the platforms we needWe have many platforms. I’m most familiar with Bitcoin and Ethereum. Their economics operate under the same assumption: limited supply. Supporters of these platforms value this property. Price rise is a big incentive to motivate communities. At market level, we can see token growth as a kind of inflation. As more projects launch, people have more tokens to choose. In 2019, the prevailing view is we have too many tokens. We need to innovate the technology. High profile investors continue to put money behind projects that experiment with technology. I’m a software engineer. I have seen smart and innovative technology in crypto market. In Bitcoin, we have Lightning Network for scaling, sidechain for launching derivatives. In Ethereum, we now have solutions building 3-4 layers on top of the main chain. There are other platforms improving components of Bitcoin and Ethereums. I have come to the conclusion that technology is not the problem, at least right now. We have enough technology to solve any problem in the next 5-10 years. We don’t need more solutions to solve imaginary problems. The real problem is our base layer is missing some economics. Bitcoin strength and weakness: limited supplyBitcoin has successfully bootstrapped using limited supply. Its limited supply and halving increase market price. I think Bitcoin would not survive if it didn’t have this property. There is economic and social movement built around Bitcoin. People promise liberation from the existing monetary system. Despite of the hype, the main use case of Bitcoin remains Store of Value. It remains and likely continues to be a speculative asset. With Bitcoin, we HODL. The feature that defines Bitcoin hinders its adoption. Its strength is also its weakness. Ethereum and other tokens face the same challenge. People in crypto don’t recognize this. If users don’t make transactions with tokens, there is no point building layers on top. Experiment with monetary policyI’m making the case for new experiment with monetary policy. With Bitcoin, we already solved the Store of Value use case. But we need to rethink limited supply. The world needs more than Store of Value. Life isn’t just work and stash. Crypto needs to grow up and accept reality. We need to stop preaching a limited supply money future. We need to create a cryptocurrency that people want to use. The missing platform: cryptocurrency with constant inflationBitflate is a cryptocurrency with constant inflation. It is experimental. My experiment is simple. I take what is working in Bitcoin and change monetary policy. I think it has the technology we need. Bitflate does reward halving until the 4th halving. Then it starts inflation of 7%. The reward schedule is as follows: 0: 50 (supply: 10 million) 1: 25 (supply: 15 million) 2: 12.5 3: 6.25 (end of halving) 4: 6.56 (start of inflation 7%) 5: 7.02 6: 7.51 7: 8.04 8: 8.60 9: 9.20 10: 9.85 (supply: 31 million) Other tokens have constant tail emission. Bitflate has a percentage, exponential increase. Even with 7% inflation, Bitflate supply is still limited. This is an incentive for early adopters to acquire Bitflate tokens. I think an inflating crypto has different economics. It discourages HODL. It’s not a long-term Store of Value. When people transact more often, we will see crypto moving. The market needs an inflating cryptocurrency. This is why I create a cryptocurrency in 2019. Join Bitflate Discord community: https://discord.gg/utnEyp8 I think this particular problem of not supporting the founders of each Blockchain's generation is the reason that all of this shit coins projects have cropped up over the years. Bitcoin and Blockchain can be seen as the first generation Blockchain and the foundation of cryptocurrency as we know of it today. Ethereum would be the second generation of Blockchain with the introduction of smart contracts and tokens. I do believe that the third generation of Blockchain was EOS with its delegated proof of stake consensus algorithm. |
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IntoTheBlock has documented what percent of each cryptocurrency is held in the richest addresses. What they found shouldn’t surprise anyone.
It’s difficult to assess the extent of inequality within cryptocurrency ecosystems. After all, they could be exchanges or custodial groups—but, in some cases, a few whales really do own a large portion of the circulating supply of some cryptocurrencies.Here is the source link for the full news I know the feeling of “Fear of Missing Out” during the time that Ethereum and the others are still cheap back then. Although I knew about Bitcoin last 2014, but I didn’t take it seriously and not investing a single dime there. Same thing goes to Ethereum, Cardano, Bitcoin Cash and the others. I really wanted to be a “whale”, but the entire crypto market is now in uncertainty and doubt, as most of the tokens were totally “shitcoins” and ended up as “exit scam” or getting abandoned by the founding team. Only a handful right now might be worth holding, but no guarantees that they will have the same kind of “wave” as Bitcoin, Ethereum and the others when they’re still in the early stages. I think al ot of us know the feeling of missing out durring the time when there was a whole bunch of shit-coins and other clone projects and there were a few really good Blockchain projects starting up back then. I definitely missed out on the first few years of Bitcoin but there was no excuse for me not to invest within Ethreum. I thought It was another gimmick because I didn't understand smart contracts at the time. As a newbie speculator and first time ever investor, I ran in to a lot of trouble trying to understand the white paper, I Had a gut feeling that it would be big, now I've been kicking myself ever since. |
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What do you plan on doing if and when you are no longer able to trade your holdings of Bitcoin and other cryptocurrencies against fiat currency? What will your crypto be worth then, if you are now longer able to cash out anymore? I think that the banks are a integral part of finance and are just as important as today's cryptocurrencies. They make a decent partnership together, crypto & fiat. I know this isn't the intended idea for Bitcoin and Blockchain tech, but it is a model that works, as cryptocurrency based companies become more compliance & transparent, regulatory bodies will eventual issue guidance or even be willing to work with them.
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The truth of the matter is this friend, there are way too many important people and organizations who have their fair share and stake within cryptocurrency. Do you think banning Bitcoin and cryptocurrencies alike will stop a giant like Mark Zuckerberg and the Face book regime from launching their famed Libra project? Too much money is on the line, people who have huge stakes would lobby against the ban and it would be very stifling to the technological innovation that it is to just go and outright ban it. Even smaller countries are considering integrating crypto into their economy.
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We've seen news recently about the Facebook Pay launch and even though they keep insisting that it has no link to the ongoing Libra case, we all have to admit that Facebook pay is very similar to what Libra aims to do but instead of using Cryptocurrencies as originally planned, the Facebook pay uses fiat instead. Most likely, you've heard about Facebook Pay. In the recent blog post, we're trying to understand how its release affects the crypto world and why Mark Zuckerberg switched to it from Libra. I recently read an article that served as an eye opener about the ulterior motive of the Facebook CEO and I would like to get your opinion on it to see if yo also agree with the reasons as well. Source: Superorderhttps://medium.com/superorder/facebook-vs-regulators-why-mark-zuckerberg-isnt-a-new-crypto-messiah-fa8156f498b4 Could it be possible that Facebook Pay is a probably a prototype that ended up becoming the Libra project. Right now I feel that Mark Zuckerberg and those Gemini twins are at the forefront of merging crypto related business and regulatory compliance. These seem like beacons of hope that prove Blockchain technology doesn't have to fit a completely decentralized model, it is capable of integrating into existing structures, making them more transparent and efficient. |
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I don't want to open up another gold vs bitcoin thread. I'm just curious because I read an article that discussed whether we should be preparing ourselves for an upcoming recession by buying bitcoin or gold: https://cryptotradernews.com/cryptocurrency/preparing-for-a-recession-bitcoin-or-gold/Thoughts? I think the next recession won't be as big as the 2008 one (which, to me was a depression). Hence I'll stick with Bitcoin for now. If money fiat money actually starts to collapse, many people that are smart enough will start to pull out from cash and put money into some form of physical asset. I also think that if fiat started crashing many crypocurrency that is dependent on fiat for trade would also hurt, as people would put money into stablecoins/gold or another low volatility asset that they can protect their wealth with. Hypothetical questions are hard to answer because of the numerous anomalies that could affect the actual outcome. |
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An unemployed dude comes to your house to ask for off jobs, say to throw away your thrash and mow the lawn. You had no cash but he owns a bitcoin wallet and asks to be paid in bitcoins. Would you pay in bitcoin?
There are too many plot-holes in this question, a guy just shows up and asks me for a job, ok then fine, perhaps we can work out an arrangement of some kind, I'm not a business man or anything but do believe in helping people out. The part which scares me is the fact that the guy knows I have Bitcoin  , or at least he assumes I do. What if I didn't know about Bitcoin, i'd probably inquire with him about what it is exactly, but that would lessen his chances of getting the job if he needs to explain how I'm supposed to pay him, no? He should be thankful to be offered a job, not be bold enough to demand a certain kind of special payment that require one to learn, taking time and energy to do so. Most people would turn him away if they weren't up to date with Blockchain & Cryptocurrency technology. They'd say what about being paid in cash? |
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Final Hunt for the Real Satoshi Nakamoto - Hoffman Investigation
Hoffman Investigation is underway to reveal the genuine inventor of Bitcoin and Blockchain Technology the pseudonymous Satoshi Nakamoto.
The Hoffman Investigation will end the decade old mystery of Bitcoin invention. Accuracy is 100% authentic. There will be no one out there to challenge the Hoffman Investigation. All the fake impersonator of the real Satoshi Nakamoto will fade away from the Bitcoin Space. I have met the real Satoshi Nakamoto in late 2015, after full two years of searching for the genuine inventor of Bitcoin and Blockchain technology. No, he is not anyone out there in the Bitcoin community. But he is out there visible but unseen. I have been granted permission by the real Satoshi Nakamoto to reveal his true identity in the news media as it is now necessary.
Dr Josef Hoffman
Investigative Journalist
Economic Intelligence Unit
If I'd didn't know any better. I wouldn't suspect this to be a scam. What gain do you benefit from by supposedly exposing Satoshi Nakamoto, someone who went out of their way to release publicly Blockchain & Bitcoin tech, all awhile attempting to remaining anonymous? Who is to say that Satoshi Nakamoto is even a single entity? What if it's a team of cypherpunks that went under a singular pseudo identity? Where is your proof or source for such accusations? I could be wrong but I think these claims are dubious, unless you're willing to provide evidence to refute you claims!  |
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This entire bitcoin space breeds greed, envy, fear, and lust. All you of hodling bitcoin are mentally ill. You have been conned into thinking bitcoin is going to the moon. It's not. Charts show bitcoin is slowly bleeding to death. Bitcoin is no different than Bernie Madoff's Ponzi scheme where new bag holders are needed to pay off the earlier investors.
Mass adoption of bitcoin will never occur. Sorry! The price is far too unstable to be used as a form of payment. Businesses would get crushed if they took bitcoin as a payment due to the wild price fluctuations. Then you have to worry about the IRS on your ass to pay taxes. Is hodling worth the stress? Absolutely not. That's why women laugh at bitcoin and think it's a scam. Notice the crypto space is all dudes?
Say what you will about the US dollar, but it's still backed by a democracy and the most powerful military in human history. Accepted everywhere. Bitcoin is backed by absolutely nothing. Gold is backed by 5000 years of history of holding value, and is recognized worldwide. Women love gold. It's beautiful and tangible. A real asset worth owning.
I'm sorry, but you HODL'ers are mentally ill and are going to get crushed when bitcoin collapses in the coming recession. Bitcoin is going to get dumped fast as people need money to pay bills and survive. If you bought bitcoin early and already cashed out with gains, you are a wise investor and have my respect. If you're still hodling, your finances and reputation are on the line here. A reputation with your friends and family you can never get back. Don't risk it. Dump your bitcoin now before it wipes you out!
I don't agree with you, even if you happen to be right, that Bitcoin could collapse one day and people will pull out and stop using it in mass droves like they did during the big bubble, which had Bitcoin seeing prices of $20,000 per coin, it still wouldn't stop people from simply just picking up a another promising coin. There are numerous promising Blockchain & cryptocurrency based projects which solve most of Bitcoins problems. It's silly to believe that "Bitcoin" is the coin of all coins. Hell, If anything, Bitcoin was just a prototype which now is used as the archetype on which other Blockchain and cryptocurrency projects mold their ideas from. I think that Blockchain technology isn't going to go anywhere anytime soon, even if Bitcoin disappears. The Blockchain lives on. . . . |
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We see a lot of these Banks that wants to sabotage Bitcoin and Crypto currencies by closing people's Bank accounts. When this happened in countries like Australia, some people closed their Bank accounts in support of these people and they moved their business to other Banks that supported Crypto currencies. They also took this to court and the court decided that this was anti-competitive behavior and they were forced to stop that. So, the question is simple : Would you close your Bank accounts, when your Bank turn against Crypto? Do we need new Banks that would go up against these large Banks to facilitate the conversion of Fiat to Crypto currencies? I think Banks doing this will quickly change their policies, once millions of people start moving their accounts to Banks that supports Crypto currencies. We do not need Banks, because P2P conversion is possible without Banks, but it just makes things so much easier for people dealing with exchanges. What do you say? Please participate in the Poll.  I think the banks are just worried about remaining compliant. Nobody wants to lose their job because of Bitcoin or any other cryptocurrency. Depending on what country that you reside in, the regulations and governing bodies will end to vary. In India reaction to Bitcoin and crypto started off initially harsh, with the Big bank threatening to close accounts or cut off their affiliations with individuals & business entities if they attempt to provide crypto related services to people. The decision to remove a bank account and open up a new one elsewhere may not be viable or even available to people within every county. Some countries don't have the luxury of having numerous different banks for their citizens to choose from. |
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First there is an announcement, then there is 3 year Roadmap,
extended each year with meaningless additions, fake recruiting of
employees, trade interrupts, software announcements, wallet updates, changes
quizes, games, givaways, airdrops, forks, ICOs etc, etc, etc.
I've seen several coins with great tech which is perfectly quick and secure, anonymous (or not) and safe.
They all have mobile wallets and wallets for every OS.
Despite this fact they cannot be adopted. Nobody wants to use them, there is no real need for them.
A team of good programmers could develop a blockchain which can replace banks and paper money
in a month. Another month for testing and another month for setting up nodes across the globe.
The main point behind all this is: who controlls these programmers?
Voilla. it is that easy.That is why I think all these announcements and Roadmaps are bullshit.
A lot of projects just might be considered scams. I really don't think every project is a flat out scam. I think we're in a new sector within finance and only a few out of many are going to make it in this new industry. The market is flooded with ICO's, airdrops, forks. and giveaways. The majority of them just might be a scam as you say, but surely not all of them? I think that there has to be some legitimate projects out there, just not every legitimate project makes it out of their initial starting gate. I think that Satoshi must have foreseen some of these things (to a degree) and went ahead and made it open source code anyway after thinking it through. |
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