Interview with Nye: The Collapse of Bitcoin in 2018 is All About the Market Cycles

The end of 2018 became a real challenge for cryptocurrency traders and holders. In a year, the BTC peak values have decreased by almost 4,5 times in price. Many people have left crypto community during this period, however many crypto experts not only “remain at duty” but also truly believe in the future of the cryptocurrency.

Today we want to show you this situation from the insider’s perspective. Nye is a specialist in digital marketing in the sphere of cryptocurrency and blockchain.

Since 2017, Nye has been doing crypto business and trading, he is also creating his own brand and running his Elevated District company.

1. Good day, Nye! You are telling everybody about blockchain’s advantages globally. Tell us, please, how did you come to the point when you realised that blockchain is the technology of the future.

I think it came with learning more about our current financial systems, our current economic models; and seeing the potential that Bitcoin has, and the potential that blockchain has to change all those thing.

2. In your opinion, what problems is blockchain industry experiencing or why do so few people know about it?

I think a lot of people know about it. I don’t think the problem is knowledge, the problem is adoption. There isn’t any clear use cases. Well, let me rephrase that: there are clear use cases, but there have not been any clear implementations of those use cases on a broad mass scale yet. And until that happens, we are going to see some struggles.

3. What was the reason for the crypto market collapse in 2018? How soon will cryptocurrencies recover?

It is just about market cycles, so we are obviously at the very top of the market cycle, at around 19-20 thousand US dollars for a Bitcoin; and we’ve seen a significant, over 80%, drop in the last 12 months. That’s just how markets work – it can’t go up forever, it just doesn’t work that way. How soon will it recover – no one knows, that’s not an answer that anyone could predict.

4. Our usual question: what will be the rate of BTC in 2019?

I can’t predict the future. I have no idea.

5. Nye, please tell our readers, where will they be able to see or hear you in the near future?   

You guys can find me on Twitter @CryptoShillNye. My website is https://iamnye.com/. Any of those places.

Подписывайтесь на новости The Coin Shark в Facebook: https://www.facebook.com/thecoinshark.ru

The First Ever Joint Arabic Cryptocurrency: Details of the Collaboration Between UAE and Saudi Arabia

As we mentioned before, two major islamic states, United Arab Emirates and Saudi Arabia, agreed to cooperate on a joint project, namely a digital currency that will fuel cross-border transactions between the two countries.

We remind you:

Saudi Arabia and United Arab Emirates Will Release a Joint Cryptocurrency

The project is actively being developed. According to Emirates News Agency, the Executive Committee of the Saudi-Emirati Coordination Council had a meeting in Abu Dhabi to discuss the course of future work.

16 representatives from both countries took part in the meeting of the Committee.

The main point of discussion was the Strategy of Resolve which contains “seven strategic initiatives that reflect the bilateral integration in the fields of services and financial markets, tourism, aviation, entrepreneurship, customs and security, among others.”

Also, the pilot version of the joint Arabic cryptocurrency was launched during the meeting. The new token “will be strictly targeted for banks at an experimental phase with the aim of better understanding the implications of Blockchain technology and facilitating cross-border payments.”

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Malware From The Pirate Bay May Hijack Website To Steal Crypto

The movies downloaded from The Pirate Bay bring a malware to the user’s computer. That was the conclusion reached by a security researcher, with the nickname  0xffff0800 in Twitter. He told that when he downloaded a movie ‘The Girl In The Spider’s Web’ from TPB, a .LNK shortcut with CozyBear malware got to his computer.

However, the Cozy Bear malware is just a decoy, the real thing that brings damages is Powershell commands. Once the malware reaches the computer, it carries out malicious actions, like disabling Windows Defender and installing viral extensions in Firefox and Chrome browsers. Moreover, it edits the appearance of the website on the user’s computer.

The movie is an application itself which links the computer to the external malicious servers.

Source: Bleeping Computer

Moreover, the newly installed viral extensions can modify the JavaScript code and add some advertisements to the main page, like it is shown below.

Source: Bleeping Computer

What is the most dangerous is that the malware can edit the appearance of the web page and add or change the information without the user’s awareness, this ability allows the malware to steal the crypto. For example, if the user open Wikipedia page on a compromised system, he/she is likely to see the message saying “Wikipedia now accepts donations in form of bitcoin” and a ‘DONATE’ sign. All the donations will go to the hacker.

Source: Bleeping Computer

In addition, the malware is able to change crypto wallet addresses provided on the pages. Unfortunately, you will not even notice how the hacker stole your money.

We remind you

YouTube Will Remove All Videos with Dangerous Pranks and Challenges

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Crypto Exchange Bittrex Partners With Bitsdaq To Conquer Asia Market

One of the biggest US-based cryptocurrency exchanges, Bittrex, announced that it was partnering with Bitsdaq to open a special trading platform in Asia. This platform will provide different digital assets to the Asian investors.

Moreover, Bitsdaq will operate on Bittrex technology and will be built based on Bittrex’s experience in the blockchain.The platform will allow users to trade various digital tokens, including tokens a available on the Bittrex exchange.

The Chairman and CEO of Bitsdaq, Ricky Ng, said:

“We are honored to bring Bittrex’s extensive cryptocurrency options to the Asia market.….It takes a unique combination of advanced technology and financial expertise to launch an efficient, reliable and secure platform for trading digital assets in Asia. We found the ideal partner to help provide a safe environment for our customers and the entire community.”

In accordance with the statement, the Bitsdaq platform will control a lot of things connected to the management of the platform, such as customer support, marketing, sales and customised development. In addition, it will take care of customer operations.

The day of the launch is yet to be announced, though customers can pre-register for an account on Bitsdaq’s website.

We remind you:

Cryptopia Got Hacked, Crypto Exchange Is Suffering “Significant Losses”

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Coingecko Publishes Its Annual Crypto Report for 2018

The online platform Coingecko published it crypto report for the passed year of 2018, where it analyzed the most important events in the crypto industry, including the market trends, crypto thefts, ICO news, stablecoins, Bitcoin Cash wars etc.

As for the market tendencies, there is no doubt that 2018 was the year of collapse. The total market capitalization decreased by whopping 78.85%, with the main period of decrease falling onto Q4. Meanwhile, the trading volumes remained quite stable.

Regarding the top-5 coins in the rating, they decreased as follows:

  • BTC – by 73%;
  • XRP – by 82%;
  • ETH – by 84%;
  • BCH – by 93%;
  • EOS – by 66%

The largest crypto exchange by the end of 2018, according to the trading volumes, turned out to be Bithumb, followed closely by ZB.com and Binance.

As for stealing cryptocurrency, the estimated money loss from criminals and scammers amounted to around $867.45 million. The biggest crypto theft was Zaif hack which took place in September and resulted in the theft of $23.5 million.

The most popular blockchain platforms for creating decentralized apps became Ethereum, EOS, Steem and Tron.

The synopsis of the stablecoin development in 2018 looks the following way:

Thus, we can definitely see that though 2018 was a hard year for crypto and there were much more downs than ups, the industry is still afloat and developing. Hopefully, 2019 will be a better year.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Cryptopia Got Hacked, Crypto Exchange Is Suffering “Significant Losses”

One of the best crypto exchanges of New Zealand, Cryptopia, was hacked. It announced this sad news via Twitter stating that it had experienced a security breach that ended in a “significant loss”. However, the company did not mention any figures of the loss.

Cryptopia has suspended all the activities on the trading platform for an indefinite period. In addition, it has notified the authorities of the country, and now it cooperates with the police and the country’s High Tech Crimes Unit in order to investigate the hacker attack.

“Staff then notified and involved the appropriate Government Agencies, including NZ police and High Tech Crimes Unit who are jointly and actively investigating the matter as a major crime and they are assisting us with advice,” the exchange stated.

This is the first cryptocurrency exchange theft in 2019, however, many customers of different crypto exchanges call into question the security of them, as there were so many incidents that had to teach exchanges how to deal with it. Some users even blame the exchanges, in particular Cryptopia, in a bear market “exit strategy”.

We remind you

The Hackers of the “51% Attack” on Ethereum Classic Returned Half of the Stolen Funds

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

A Video Gamer Received a 20-Bitcoin Donation on Twitch

A video game player under the nickname Sick Nerd received a donation from an anonym in the amount of 20 Bitcoins when playing the game RuneScape and streaming it on the platform Twitch.

Sick Nerd mentioned this on his Twitter:

At first, the streamer received only 4 BTC. He didn’t take it seriously right away, but kept receiving new donations in cryptocurrency. Overall, Sick Nerd became richer by over 20 BTC during his streaming session.

This is the largest crypto donation sent to a video game player ever, and, of course, the largest donation ever received by Sick Nerd (more than 70 thousand dollars).

Cryptocurrency keeps making its way into every sphere of human activity, and video games are no exception. We remind you:

Cryptocurrency Games: Bitcoin Game Review

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/