Co-founder of Bitcoin.com Got Rid of His Bitcoins

Emil Oldenburg said that Bitcoin has no perspectives as a trading currency. Co-founder of Bitcoin.com company shared that he had sold all his bitcoin, however he did not stay away from cryptocurrency itself now preferring Bitcoin Cash.

According to Oldenburg, main problems of bitcoin are high commission fees and transaction speed that is getting lower and lower.

“I would say an investment in Bitcoin is the riskiest investment you can make”, – assured Emil Oldenburg.

The reason why bitcoin owners can not realize their risks is that the majority of them actually has been purchasing Bitcoin and has never tried to sell or trade their cryptocurrency. Users can make a limited number of transactions per second which partly depends on “block size” of the memory that store transactions on the blockchain.

“As soon as people realize how it all works they will start to sell”, – ads Emiel.

Some analysts expect bitcoin “bubble” to grow by two or three times, however it “will finally collapse when there will not be further money infusion to maintain it”.

Cameron Winklevoss, one of the first cryptocurrency billionaires, considers that the current bitcoin rate of $20 000 for 1 BTC is not the limit and this cryptocurrency will be at last 20 times more expensive and will compete with gold.

Recommendations Which Will Help to Secure Your Crypto Wallet From Top 7 Popular Ways of Hacking

Cryptocurrency is the cherry on top every single crypto hacker wants “to eat”. Even since the release of the very first cryptocurrency in the world, scammers are conducting active warfare with the access to the digital wallets.

If you are hodler of valuable coins, do everything to increase the security of the wallet. Otherwise, you’ll run the risk of losing your savings and no one can return them.

In order not to get your crypto wallet hacked, The Coin Shark has prepared recommendations which will help to protect it from top 7 popular ways of hacking.

Method #1: IP Spoofing

You might think the the wallet address are created by evil forces 🙂 Because to remember this polysemic chaotic set of symbols is difficult. Therefore, for convenience, many people simple copy the address from a supposedly safe place and paste it into any application, in order to perform the operation.

This trick is used by hackers to create malware for tracking and replacing information. When a person copies the desired address to the clipboard, the virus replace it with the hackers address. After that, the cryptocurrency is transferred to a third-party address – on the criminal’s wallets.

Recommendation: check the inserted address from the clipboard before sending coins.

Method #2: Malware Installation

More dangerous than replacing the address is the theft of personal data from the device. Personal data includes: passwords and logins from accounts, including wallets.

Hacker virus gets on your computer through the fake and even official versions of software products. In the first case, the malware creates a copy of the original code with the virus. In the second, the virus finds a gap, in which it inserts its data package.

The dangerous virus was detected in the programm All-Radio 4.27 Portable, which during the installation downloaded the virus to the system folder «Windows Temp».

Attention! The malware works even when the device is turned off.

Another favourite hacker application is the hijacker – Adobe Flash Player. Who would have thought that a well-known application could poison PC and steal the data from it. When installing, a hacker program behave normally, so it is difficult to distinguish it from the official version. In addition, application periodically receives an update. As usual.

ESET security specialist Lukas Stefanko, has found an interesting pattern: the number of fake application is increasing as well as the rise of crypto market.

Recommendation:

  • Since, such malware is hidden in programs and running in the background, an antivirus is needed, which is capable to detect a hidden threat;
  • Download the programs to your PC only from official developers sites.

Method #3: Infected Expansion for browser

Modern hackers are so incredibly creative and flexible in their activity that they learned to implement the viruses not only in software products. In browser extensions, might be hiding viruses, which track all actions of PC user.

The most popular browser add-on and the best hacker creation of this year is Hola VPN Chrome. The fake version forwards to a phishing page, where hackers get the necessary information for hack the MyEtherWallet.

Despite the warnings of security experts, there are still those who fall for the trick with the compromising of popular browser extensions.

Recommendation:

  • Do not download the unknown extensions into the browser;
  • Use only the latest browser version.

Method #4: Fake Crypto Wallets

This is the most popular method of crypto hackers. The last, let’s say, the best scheme of hackers was the proposal to install the wallet for non-existent token SpriteCoin. The traders were buying into the beautiful stories about the viability and capacity of the coin, despite the fact that any other information about the coin is missing. They, in their innocence, downloaded the wallets along with the encryption virus.

As soon as malware is on the PC – it immediately begins encrypting the hard disk. Files of any kind, become a random set of characters. At the same time, the malware adds an encrypted extension,that blocks the recovery of encrypted data.

From this chaos, for the user of an infected PC, hackers get logins and passwords which are saved in Chrome and Firefox.  

But there is the one option to decrypt the data is to pay the criminal 0.3 Monero. Of course, not everything is so simple. When a victim makes a deal with hackers, she gets a decryption key and a bonus trojan that monitors it via webcam and steal digital certificates. As a result, real wallets and bank accounts are at risk.

Another method of fraud with the digital wallets is registration on fake services. The criminals offer to register on their resource, in order to open a megabon wallet that gives coins for registration. In fact, such resources simply collect the necessary information for hacking wallets and provide nothing. Although, there are those who still give a wallet, to which hackers-developers also have access.

Recommendation:

  • Do not get fooled by “great offers”, always check the information, look for reviews;
  • Never accept the terms of fraudsters;
  • Create a backup copy of your hard drive or just important information from it;
  • Install an effective antivirus,which is able to protect the data in case of an extraordinary threat.

Method #5:  Social Engineering

Namely, with the help of this method, hackers love to steal the private keys from crypto wallets or transfer cryptocurrency to their accounts. Social engineering is very specific in implementation, since it is based on psychological manipulation.

People are much easier “to hack”, than their digital devices. Therefore, your excessive trust may be no less a threat than malware.

The point is, that fraudsters redirects the victim to a fake authorization page. To that end,they send a letter to the e-mail, in  which they warn about the blocking of wallet, if the recipient doesn’t pass the identification. Of course, at the end of the notification there is a link to a phishing page, where the man by innocence enters personal data and as a result loses his digital coins.

Recommendation:

  • If you are lucky enough to receive a fake warning,then examine the sender’s address to pieces, or even better, every word with the help of Google;
  • Send a request to your wallet technical support to make sure that they really sent the warning. Just don’t follow the link with a questionable warning.

Method #6: Angry Bots

The bots greatly simplify the life on the Internet. They benefit from social networking, ending with customer service on web-resources. However, they can also be useful for fraudsters, which is dangerous for cryptocurrency hodlers.

If you tune in to a Slack-bot,he will be the first cause of your nightmares and headaches. This is a cryptocurrency digital thief, and it should be noted, very effective.

They work as follows: they notify the trader about the threat of crypto wallet and redirect it to a phishing resource, where hackers get personal data.

Recommendation:

  • Yes, bots are greatly simplify the networking. However, if you are not sure of its developer, then refrain from installing the program;
  • Work only with paid bots from well-known developers.

Method #7: Dangerous SIM-cards

Remember, SIM and crypto wallet are not the best combo. By losing the SIM card, you lost the data is,at best. And if the card is intended to be taken by fraudsters, then consider that you “freely presented” your coins.

If fraudsters get access to the phone number, they can reset any account passwords, that are registered on the SIM card. That is, if your wallet is attached to a SIM, then there is a huge chance that the criminals will get to your online accounts, if they have not reached them yet.

Attaching to a SIM card is so unreliable, that even two-step verification doesn’t help.

Recommendation:

  • Provide your wallet with the additional protection with applications such as Telegram or Signal. Good News, Traders! Durov messenger in the future will decline the authorization by sms. Google Authenticator has no longer uses this type of verification;
  • Use 2FA-authentication.

We have shared with you the main hackers tricks and ways how to avoid them. Be extremely careful and never forget about the security of your cryptocurrency.   

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Top Serials Where Cryptocurrency is Mentioned

Who doesn’t like to relax on the soft couch watching a show after an intense day? The Coin Shark has made a compilation of serials about cryptocurrency, so that your rest will be complemented by benefits.

1. StartUp

This serial opens the compilation of crypto serials for a good reason. This is the first picture, that doesn’t merely deals with digital currency, but contain it in the heart of the plot.

Cybertriller about cryptocurrency, hackers, bankers and mobsters, who are combined in order to change the world. In the picture, instead of the well-known Bitcoin and Ethereum, a fictional digital coin called GenCoin is used.

TV series adviser Brian Stoeckert, expert in risk management and anti-money laundering, in the interview with CNBC said:

“People have heard about digital currency, but they really don’t understand how it operates. They just see it on the headlines,this is one way they can follow a story line and get a unique perspective on it”.

2. Mr. Robot

Sam Esmail created not just an American psychological TV show, but the whole iconic picture, which consists of 3 seasons. The serial is highly appreciated by programmers and those, who are interested in innovations.

The main character Elliot Alderson, played by an actor Rami Malek, leads a double life: by day, he is a cyber security engineer, and by night – a genius hacker. But the double life doesn’t end here!  Elliot has a split personality.

In the serial a fictional cryptocurrency Ecoin is involved, even the famous Bitcoin is mentioned. In one of the episodes, the president of E-Corp or “evil corporation” Philipp Price (the actor Christopher Michael) and a high-ranking official, whom serial fans compare to Jacob Lew, discuss the future of their cryptocurrency and Bitcoin.

“The problem here is hard cash is fading, rapidly, this is the way of the world right now and Bitcoin is spreading and it Bitcoin takes of the wheel all in a world of hell. It is unregulated,it’s already reached its transaction volume maximum and it is part plate control by Chinese miners”.

3. The Big Bang Theory

Popular comedy series, which wins our hearts with edgy sense of humor and thin sarcasm. Many believe, that the target audience of sitcom are just “techs”, since its main characters Leonard Hofstadter and Sheldon Cooper, who were played by Johnny Galecki and Jim Parsons respectively, are talented physics. Nevertheless, the humour doesn’t revolve around the science and the characters get into quite familiar situations for everyone.

The series creators were inspired by cryptocurrency so much, that in 2017 they have devoted the whole episode to it under the name “The Bitcoin Entanglement”. In the serie, the main characters recalled, that they had mined BTC and saved them on a Flash-drive, which was lost 🙂

4. The Simpsons

There is no person, who’ve never heard of The Simpsons. This yellow people are well-known around the world and head of the family Homer, voiced by Daniel Castellaneta, is often cited in comic public groups. And there is no wonder, because in this situational animated comedy you have everything you need in order to get inspired by positivity and get temporarily disconnect from worries.

The cryptocurrency in the serial is mentioned in an episode in 2013. In the serie Krusty the Clown tells, that he is broke, because “All it takes, is a bad luck with a ponies, worse luck in a Bitcoin market, heavy investment in a high and bookmark company”.

Also in the 7 serie, season 25, Bitcoin was depicted on the billboard near the school:

5. Almost Human

You must admit, that it would be weird if a science fiction TV show, events of which develop in 2048, didn’t concern Bitcoin. The creator, J. H. Wyman, wouldn’t make such mistake. True, Bitcoin in the series, is not what we are used to “not seeing”. Here, the first cryptocurrency of nowadays is presented in the form of a large flash drive.

6. The Blacklist

The cryptocurrency has not fully replaced the fiat and a certain percentage of humanity doesn’t even understand what it is. But, others are already bringing clarity to the public about the digital currency. The writers,of “The Blacklist” decided not to invent a new cryptocurrency, but to use the well-known Ripple.

We want to remind you, that recently Ripple has become the second cryptocurrency by capitalization on the market.

7. Billions

This serial is mandatory to view for those, who are involved in finance and closely linked to the economy.

Billions is a melodramatic picture with a dynamic plot. The action of episodes are develop around two largest players in the US financial world – successful businessmen Bobby Axelrod and the Prosecutor of the Southern New York District – Chuck Rhoades.  Chuck knows, that Axe’s fund is maintaining shadow activity, because of that he is constantly looking for and consequently finds compromising evidence. The cast characters – Damian Lewis and Paul Giamatti respectively.

Now Billions – is the best serial about finance. The heroes begin to use cryptocurrency in the third season.

Cryptocurrency also appears in the following series: “The Good Wife”, ”Person of Interest”, ”Blindspot”, ”iZombie”, ”Family Guy”.

We hope that you will not lose the compilation of crypto series from The Coin Shark. In order for this not to happen, share it on social network with friends. Enjoy watching! 🙂  

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Andreas Antonopoulos Does Not Think Bitcoin Is in a “Death Spiral”

With the current downtrend of Bitcoin and the crypto market in general, a lot of crypto experts and enthusiasts do not see any bright future for #1 digital coin. The infamous prediction of John McAfee now seems even more far-fetched than before.

However, some people still have faith in BTC. A famous author of books about cryptocurrency and blockchain Andreas Antonopoulos made a video where he explained what a death spiral is and why it does not relate to Bitcoin so far.

According to Antonopoulos, a death spiral arises when the hashrate of the network drops.

Since it is directly connected with the mining complexity, the complexity also reduces together with profitability, causing miners to leave.

However, the author believes this is not the case with Bitcoin, since BTC miners do not react to such price jumps immediately. Their plans are usually calculated for the long-terms results. Only if Bitcoin keep dropping for a significant period of time, the danger of a death spiral may appear.

Part of the reason that’s unlikely to happen is that miners have a much more long-term perspective, meaning that they have existing investments in equipment and they usually purchase electricity on long-term plans, they don’t pay it by the week,” says Antonopoulos.

Hopefully, the crypto author is right, because if miners start leaving the ecosystem of Bitcoin, the coin is doomed.

We remind you:

Books About Bitcoin: Top Editions by Andreas Antonopoulos

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Bitcoin’s Price in 2019: Forecasts and Opinion of Experts

Attention of many people around the world is focused on the Bitcoin price. No one can say for sure, where it will go next year, or moreover in a few years. Some people believe, that the cryptocurrency industry has already reached its maximum, and all that we are waiting is a continuous decline of value. But there are experts who are sure that the maximum marks of BTC is only beginning and we are expecting for the new heights in the future. Well, let’s try to look into the matter and analyze the words of leading financial experts of the world.

1. Analysis of the current situation

As we all remember, the capitalization of the cryptocurrency market reached its historic maximum 831 billion dollars in January 2018. After this, a deep and prolonged correction has started, which partially continues until now. At the time of writing, the market capitalization is 107 billion dollars, the Bitcoin price has fallen in 6 times, and many coins have become cheaper in 10-20 times.

Source: CoinMarketCap

At first glance, everything seems to be bad and prospects are rather vague. But what if we tell you that everything is absolutely opposite and now it is the best time to invest in cryptocurrency? We are ready to back up our words with concrete facts about which very few people talk. 

  • Continuous growth of network`s hashrate. Despite the fact that the price of first cryptocurrency shows negative profitability throughout 2018, the total computing power of Bitcoin network is constantly growing. It means that miners are increasing their production capacity. And it is not about small or medium farms, since their share is negligible on the general background.

Source: https://bitinfocharts.com/

After analyzing this graph, it appears that big miners continue to invest hundreds of millions dollars in equipment. This means that major players continue to believe in further development of the industry, and therefore in future growth of the BTC rate.

  • Infrastructure development. In 2018, investor`s interest in cryptocurrency faded a little, but this did not affect infrastructure development. Every day, the number of places where you can pay with cryptocurrency is growing (paying taxes in the USA, real estate, online shopping, transport tickets, physical points of sale and more). It is a very good trend, because the more places you can pay with BTC, the more people will be involved in the digital economy.
  • The acceptance of cryptocurrency at the government level. In 2018, for the first time in 10 years of Bitcoin’s existence, they started talking about it at the international level. If earlier none of the world leaders paid enough attention to this topic, then this year at the G20 summit this issue was put on the agenda. World leaders agreed that it would be pointless to forbid cryptocurrencies and no one would do that. On the contrary, there was decided to develop an international legislative framework.
  • It’s still possible to become a “pioneer”. If you go to the website bitinfocharts.com and take a look how many Bitcoin wallets are registered currently, it is possible to see the number that does not exceed 23 million. Taking into account that more than 15 million of them are wallets, which balance does not exceed $100. The population of our planet now is about 7.6 billion people. Let’s take 40% of insolvent people (children, pensioners, people who live in a third world, etc.) – it comes out near 4.5 billion people. After comparing these numbers, it appears that there are still very few people who are really involved in the cryptocurrency industry. That means, a global large-scale acceptance of technology does not exist yet. This gives us a chance to become pioneers. After cryptocurrency becomes a commonplace for any person (like, for example, a credit card in our days), we will reap the benefits. Most likely you will hear such expression in future: “Why didn’t I buy Bitcoin in 2018?”.

2. Expert forecasts for 2019-2020

Now let’s see what famous experts say about the near future of Bitcoin, namely about its price.

Mike Novogratz, CEO of Galaxy Digital, believes that the start of Bakkt and Fidelity Digital Assets platforms will affect on entry of new investors into the cryptocurrency market. According to Mike`s opinion, now the most important point of resistance is the mark of $ 3,880. If we overcome it, then the rate may reach $ 9,000 till the new year. The next important mark is $10,000. After overcoming it, the price of BTC 2019 will go up sharply. Novogratz has no doubt that the next year rate of Bitcoin will overcome its historical maximum of 20,000 dollars.

Tom Lee, is one of the leading analysts of Wall Street. Previously, he stated that until the end of 2018, the rate of Bitcoin will overcome the mark of 25 thousand dollars. But after a few months, namely in July 2018, he slightly revised his views and named the new price of Bitcoin 2019 – 22 thousand dollars.

The forecast of John Mcafee is the most bravest of all existing on the market. He believed that by December 2020, the price of one bitcoin will be $1,000,000. Moreover, John is confident in his forecast like no one other. In his view, in the upcoming future, Bitcoin will replace dollar, which will cause huge demand.

3. Conclusion

After analyzing the current situation and the words of industry experts, we can conclude that Bitcoin and cryptocurrency in particular have a great future. Now we are only at the beginning and in the next decade, cryptocurrency will change our life. It should be noted that this article is not a call for investing in cryptocurrency. These are just our subjective thoughts about the future development of the industry. Remember, any investment entails a certain risks.

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New Trend: Why Companies Replacing the Term “Blockchain” to “DLT”

Due to harmful hype to innovative chain of transaction blocks, some companies use “DLT” instead of “Blockchain”, which stands for Distributed Ledger Technology.

The term replacing begins with that some organisations, in their advertising and informational campaigns, decided to change the word “Blockchain” to “DLT”. Such a move connected with the hype about the blockchain technology. Therefore the companies, in order to take some of the negative from them,went on that kind of cunning. In this regard, an independent analytical company Forrester Research has made their own investigation.

Company analytics point out, that “Blockchain” is a trend-word of crypto industry, which many crypto projects abused. The word is used even when the technology isn’t used in the product. The usage of “Blockchain” for the hype invalidate the technology itself.  Since, the blockchain in general is associated with cryptocurrency, when the company which are not related to the world of cryptocurrency, decided to go away from the naming technology and started to use the word “DLT” , in order not to associate their activity with the digital money.

Meanwhile, the word “Blockchain” overtakes the word “Cryptocurrency” by frequency of requests in the world search, according to the Google Trends.

Source:Google Trends

We want to remind you:

The Number of Searches for “Bitcoin” in Google Has Skyrocketed

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Lightning Network of Bitcoin Blew Up: A 1600% Increase Since Last February

The BTC Lightning Network which was created to fight with the issue of Bitcoin scalability is developing at a huge pace. The story began last February. Back then, the network only had 1 thousand channels, worth 4 BTC per channel.

The network started growing. In August it already had 11 thousand channels with a price of 97 BTC per channel. We remind you:

The Number of Channels in the Bitcoin Lightning Network Exceeded 11 Thousand

And then Bitcoin Cash hardforked, and things went wild. The Lightning Network literally blew up. At the time of writing, the number of its channels equals to 16677. This means an increase by 1600% since the February of 2018.

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