Month: February 2018

After possibly thousands of investors got burned by arbitrage-trading company Optioment last year, Austrian authorities have asked Interpol to help track down the fraudsters responsible for the Bitcoin scam. Another Bitcoin Scam Burns Buyers European authorities are on the hunt for criminals involved in defrauding thousands of individuals and losing over $100 million worth of investors’ Bitcoin. According to reports, Optioment ran a now-defunct website while holding large-scale events in Austria — in which the company advertised itself as a “private Costa Rica-based Bitcoin fund” promising unrealistic returns. Law firm Lansky,…

Late 2017 will long be remembered as the time when bitcoin went mainstream. Prices were mooning, and the general atmosphere was one of fear of missing out. That sentiment was especially true in trading circles, and more traditional outlets were experimenting with cryptocurrency divisions in order to take advantage. One such experiment went sour, as a trader attempted to play upon relative company ignorance by shorting bitcoin and covering personal margin calls, with the affair ending in million dollar losses and a first of its kind federal prosecution. Also read: Citibank…

Ellen DeGeneres has likened Bitcoin to a “digital goat” in an attempt to explain the digital currency in layman’s terms live on air. Ellen Viewers Learn Bitcoin, Wallets And Volatility In a segment of her popular television show this week, which averages almost 3 million viewers per episode, DeGeneres spent several minutes speaking about the non-physical nature of Bitcoin and wallets, as well as touching on volatility. “You’re probably thinking, ‘Ellen, if I can’t physically touch it, where can I keep my bitcoin? In a digital purse?’ which is a…

The U.S. Commodity Futures Trading Commission (CFTC) has issued its first warning against pump-and-dump schemes involving cryptocurrencies while giving advice on how to buy crypto. This warning follows previous warnings by two other U.S. regulators. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies CFTC’s Warning The CFTC issued a Customer Protection Advisory on Thursday to warn the public to “beware of and avoid pump-and-dump schemes that can occur in thinly traded or new ‘alternative’ virtual currencies, digital coins or tokens.” CFTC Director of Public Affairs Erica Elliott…

Some financial institutions are claiming that a lack of demand from clients, coupled with a drought of important use cases, is holding Bitcoin and other cryptocurrencies back. Where’s the Demand? If you want to start actually using Bitcoin and other cryptocurrencies, says JPMorgan Chase & Co., you need to start asking. According to Bill Clerico, CEO of JPMorgan-owned WePay, his company simply isn’t receiving enough requests to justify supporting cryptocurrency transactions. Clerico also adds that nobody has found a must-have use case for Bitcoin or crypto, which is needed to…

Japan’s two cryptocurrency associations have reportedly decided to merge in order to restore trust in the industry and accelerate self-imposed rules. Once approved by the Japanese financial regulator, the new organization will have the power to set penalties for breaches of self-regulation. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Two Crypto Associations Merging Japan currently has two cryptocurrency industry associations: the Japan Blockchain Association (JBA) and the Japan Cryptocurrency Business Association (JCBA). The former is headed by Bitflyer CEO, Yuzo Kano, and has a total of…

A new video game, Montecrypto: The Bitcoin Enigma, releasing on Steam will reward the first player who solves all 24 puzzles within the game a Bitcoin. Ever since video games were invented, parents would tell their children that playing them was often a waste of time. The tables have now turned as being the first to solve a new video game can win you a cool Bitcoin of your own. Of course, you’ll have to be really good at solving puzzles. Be the first to solve all 24 puzzles in…

Japan is one of the world’s most crypto-friendly nations at the moment. It made digital currencies legal tender in April last year and enjoys a free and unfettered crypto trading environment. The drive behind this adoption of virtual currencies is an efficient and structured framework of regulation. This is about to be improved with the merger of two of the country’s leading cryptocurrency groups. According to reports the Japan Blockchain Association and the Japan Cryptocurrency Business Association are expected to merge as early as April. The ambition is to seek…