Ether Takes over Bitcoin Popularity among Top Bankers

The success of blockchain-based financial models starts attracting attention of banks top-management.

Michael McGovern, Managing Director and Head of Investor Services at one of the oldest american private banks Brown Brothers Harriman & Co expressed his interest in Ether digital currency.

«If you compare ETH and BTC there is no doubt that Ether is better. It is not that expensive as mining requires less power. Ether is not only cheaper than bitcoin but also is more sustainable. It can represent virtual assets and allow to introduce certificates and contracts» – said Michael

This comment reflects the attitude of many cryptocurrency market players towards Ether, thus, Mgt Capital started mining this digital currency.

Ethereum retained its price relative to Bitcoin, although the volatility has increased within the last month. Despite significant market fluctuations and occasional speculations, the cryptocurrency continues to maintain and gain its popularity.

Google’s AI Stated Bitcoin Is “A Collapsed Economic Bubble”

If you still do not understand what is happening with the cryptocurrency market, in particular with the prices of all digital coins, Google’s AI gave a kind of interesting answer. By entering the search request “Bitcoin”, you may see the following card which defined Bitcoin as “a collapsed economic bubble”.


Source: Finance Magnates

In a couple of hours the definition was edited, claiming: “Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries.”

The algorithm which aggregates the information displays the useful cards in the sidebar automatically. However, such a sentence clearly shows that the company’s AI system considers the bitcoin market as an economic bubble.

The CEO of Google Sundar Pichai explained that Google’s AI looks at every keyword based on “things like relevance, freshness, popularity and how other people are using it”.

Looking from this point of view, it means that the real reason why such a card displayed is that people downgraded Bitcoin and lost any hope in it.

We remind you

The Main Myths Connected with Bitcoin: A Pyramid, A Bubble or A Valuable Asset?

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Bomb Bitcoin: A New Scammers’ Scheme of Getting Cryptocurrency

Scammers are becoming more and more resourceful in making up new ways of obtaining cryptocurrency, in particular Bitcoin. This scheme is quite simple: the criminal sends an email where it is pointed out that if a victim does not send $20,000 in Bitcoin within a specified time period, then the former denotes a bomb inside the building where the victim’s company is. The culprit also sends the Bitcoin addresses, in the following email, such an address does not exist.

It is just impossible not to respond to such threats due to some moments in history, so the whole offices are now being evacuated as this scam spreads.

Here you can see the full text of the email:

“My man carried a bomb (Hexogen) into the building where your company is located. It is constructed under my direction. It can be hidden anywhere because of its small size, it is not able to damage the supporting building structure, but in the case of its detonation you will get many victims.

My mercenary keeps the building under the control. If he notices any unusual behavior or emergency he will blow up the bomb.

I can withdraw my mercenary if you pay. You pay me 20.000 $ in Bitcoin and the bomb will not explode, but don’t try to cheat -I warrant you that I will withdraw my mercenary only after 3 confirmations in blockchain network.

Here is my Bitcoin address : 1GHKDgQX7hqTM7mMmiiUvgihGMHtvNJqTv

You have to solve problems with the transfer by the end of the workday. If you are late with the money explosive will explode.

This is just a business, if you don’t send me the money and the explosive device detonates, other commercial enterprises will transfer me more money, because this isnt a one-time action.

I wont visit this email. I check my Bitcoin wallet every 35 min and after seeing the money I will order my recruited person to get away.

If the explosive device explodes and the authorities notice this letter:

We are not terrorists and dont assume any responsibility for explosions in other buildings.”

The New York Police Department (NYPD) reacted to such emails and made an official statement on Twitter, stating that such threats are considered to be “not credible”:

The FBI has also tweeted calling for public’s vigilance:

Our editorial board strongly urges not to believe such threats in order not to become a victim of the heinous scams. If you are hesitating if this email is real or not, please, call the police. We remind you

The Most High-Profile Scam Projects of 2018

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SEC Obliged AriseBank Creators to Pay Indemnities and Penalties Amounting to $2,7 Million

Jared Rice Sr., the former CEO of AriseBank company, and the former operating officer Stanley Ford, did not admit their guilt in conducting the fraudulent ICO. According to U.S. Securities and Exchange Commission (SEC), they both agreed to out-of-court settlement.

The U.S. Federal Court obliged them to pay $2.26 million as a compensation for damage, both $184,76 thousand as a fine, in addition to $68 thousand for expenses. As well as, in addition to pay penalties, they could be sentenced to a life ban from leading the projects or participating in the issuance of securities.

Reportedly, Rice did not have access to FDIC insurance and had no partnership with Visa, to offer banking services in Texas. Moreover, Rice has spent investors’ money for his own personal use, while repeatedly talking to mass media about the “non-existent” advantages of AriseBank. In addition, the police believe that Jared Rice Sr. hid from the investors the fact of his previous conviction for fraud and accusations under other charges.  

We want to remind you, that recently SEC have declared their intention to fine social media celebrities who promote scam-ICO in social networks.

SEC Is Going to Fine Social Media Celebrities Who Promote Scam ICOs

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Bitcoin Tops Up the “What Is” Google Searches

As we reported earlier, the searches for Bitcoin have increased quite significantly. We would like to remind you:

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

Now that Google Trends has published new statistics on the most popular searches of the passing year, we can see that “What is Bitcoin?” is the most frequently asked question on Google in the “What is…?” section.

Source: Google Trends

Bitcoin is definitely repeating last year’s success, when it managed to outrun the searches for Donald Trump. However, if last year such an increased interest was due to the stable growth of Bitcoin, now it is happening for the opposite reason.

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How Is a Schoolboy Millionaire Doing: A Story About the Youngest Bitcoin Richer

Erik Finman’s life is like a dream. He is the youngest Bitcoin millionaire in the world. His digital wallet stores more than 400 BTC, which at the rate of $20 thousand per one coin was equal to $8 million.

From a schoolboy to a Bitcoin Millionaire

The story of Erik Finman began in 2011, when he was 12 years old. Young man received from his grandmother $1 thousand for college. However, the guy decided to invest them not in education, but in Bitcoin. He was confident that the digital currency has a great future and therefore he will have it, if he buys BTC. A schoolboy purchased Bitcoin on all the money that his grandmother gave him, with the rate of $12 per one coin.

The first million Erik earned at 15 years. Before that, the future millionaire, argued with his parents that he would not go to college if he earned his first million before the age of 18. When the Bitcoin rate first increased in the summer of 2017, Finman became a millionaire. After that, he went into business.

In 2013, Erik’s capital was valued at more than $100 thousand. This fortune pushed the guy to drop out from high school, in order to start his own business. Moreover, the young man was convinced that the secondary school provides with low-quality education.

“I had these teachers that were all kind of negative. One teacher told me to drop out and work at McDonald’s because that was all I would amount to for the rest of my life. I guess I did the dropout part.”  – said Erik in CNBC interview.

The young entrepreneur founded his own online educational platform Botangle, which helped the young people to find suitable teachers for class via video chat sessions.

January 2015 has been a remarkable for the guy. He sold Botangle for 300 BTC, whose rate at that time was $ 200 per coin. The buyer also offered the guy $100 thousand in exchange for the business. However, Erik was convinced that it was much more promising to make a deal with cryptocurrency.

“My parents asked ‘Why don’t you take the more cash? But I thought of it more of an investment.” –  Finman explained.

You may ask, what’s the catch? And the catch really is. After all, the guy for $100 thousand could buy 500 BTC instead of 300 BTC. But he chose cryptocurrency, because the official transaction is accompanied by certain difficulties with which, the underage wouldn’t not cope.

Today, December 2018, Erik has about 400 BTC at his disposal, and the Bitcoin rate varies within $4,000 per coin. That is, Erik’s fortune does not exceed $2 million. Despite the fact that experts like Warren Buffett are confident that the cryptocurrency is a bubble that is about to burst, the young man says:

“Personally I think bitcoin is going to be worth a couple hundred thousand to a million dollars a coin”

Some believe that the young millionaire suffers from paranoid syndrome. After an increase of popularity and capital, Erik is obsessed with the security of his assets. For example, he divides his capital into various super secured wallets.

Bitcoin millionaire lifestyle

Erik bought a house in West Hollywood, where he neighbors with young YouTube stars and IT elites. Well, and as usual it happens, the guy had his head turned by his fortune. The first evidence that Finman “went off the rails” was the reusable rental of Lamborghini sports cars.

The insanity did not last long. During this dizzying period, the guy did not insert the diamond teeth, did not fill the wardrobe to the full with clothing. By the way it is half empty. The millionaire dresses very inconspicuously: T-shirts, shorts and jeans.

Erik hated the school so much, that when he bought a car, it was indicative that he chose a number with his average grade of school certificate – 2.1GPA.

All of Erik’s relatives have a higher education, so they really want their children to get a higher education. But, a bet’s a bet,and besides, the guy is not going to college under any circumstances:

“The purpose of that would be to get another education level and get a job. I had to learn through running a business. Instead of writing essays for English class, I had to write emails to important people.” – said Erik. “The way the education system is structured now, I wouldn’t recommend it,It doesn’t work for anyone. I would recommend the internet, which is all free. You can learn a million times more off YouTube and Wikipedia.”

The young millionaire eats at Polo Lounge, In-N-Out Burger and other restaurants, depending on his mood. In his free time from work, the guy travels. He likes to have a rest on distant continents, especially Dubai.

Source: https://www.inverse.com

Now Finman is in charge of managing his own and family Bitcoin investments.

The young millionaire’s view of the future of cryptocurrency

The world’s first cryptocurrency by capitalization is not the only digital currency that makes up the capital of the millionaire. Litecoin and Ethereum are also in reserve.

If the young man believes in the future of Bitcoin, the future of Vitalik Buterin’s creation he doubts though. Erik believes that Ethereum’s growth depends on speculation on the crypto market.

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A Sextortion Crypto Scam Makes the Victims Lose Their Bitcoins

According to the research conducted by the company ProofPoint, specializing in cyber security, the residents of the US are now suffering from a major sextortion fraud scheme, involving Bitcoin.

The scam is pretty basic: a victim receives an email which claims that the criminals have dirt on him/her with a link to the alleged compromising info. In reality, this link leads to malicious software which is automatically installed to the device of a victim. After that, the person is required to pay 500 dollars in BTC or Dash, otherwise the compromising video will be posted online.

The company warns the users about the danger and encourages not to fall for the scammers’ blackmailing, moreover, not to open any links sent by them.

We remind you:

Crypto Scammers Attack Porn Lovers

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