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ICO exit scams over the last two years have left people $ 96.8 million out of pocket, according to data compiled by blockchain intelligence firm Diar.
However, this is only a drop in the ocean with regards to the influx of investment the cryptocurrency space is receiving. For context, blockchain start-ups have raised over $ 6.8 billion from ICOs in 2018 alone. Nonetheless, $ 100 million is an eye-watering amount. Let’s look at the top 5 ICO exit scams.
Bitcoin has been an object of serious criticism across the board for a range of reasons. Most notably, though, the first and foremost cryptocurrency faces a barrage of judgment due to its price volatility. Traditional and more conservative investors are taking the chance to label Bitcoin as an incredibly risky investment, as the cryptocurrency lost around 70 percent of its value since January. But how risky is Bitcoin exactly?
A recent article on popular finance insight publication The Motley Fool expressed serious concerns about investing in cryptocurrencies. Bitcoin, the largest digital currency by means of market capitalization, was the main object of criticism.
One of the most maddening things about lookalike Twitter scammers has been Twitter’s unwillingness to do anything about them. It’s not a complex problem to solve, and yet for months the micro-blogging service has prevaricated while the gullible public has given their ether away to flagrant scammers. A couple of third party services have now sprung up promising to solve the problem. If Twitter can’t stop crypto scammers, they will.
Also read: Bitcoin Funded Silk Road Performance Earns a Residency at Trafalgar Studios
Since its inception, one of the major goals of the cryptocurrency community has been the adoption of Bitcoin as a payment method for goods and services. As it stands now, consumers can use Bitcoin across a number of industries to purchase everything from real estate, to PCs, to pizza. However, Bitcoin’s high transaction costs, deflationary nature, and full transparency represent some of the shortcomings that prevent Bitcoin from seeing widespread merchant adoption.
As such, enthusiasts, consumers, and producers alike have gotten behind a number of altcoins as mediums of exchange for a variety of uses. While Bitcoin acted as the catalyst for the first wave of crypto-merchant integration, these emerging altcoins are the pioneers for the interactions between the consumers and merchants of tomorrow.
Looking to put your money to work for you with some promising investments into Initial Coin Offerings? Here are three ICOs launching in 2018 that could help you do just that.
The first Initial Coin Offering you will want to pay close attention to is Origin.
Origin is a protocol which utilizes the Ethereum blockchain and IPFS for the creation of sharing-economy marketplaces. In essence, it affords both developers and businesses the ability to construct decentralized marketplaces on the blockchain, while making it simple to both create and manage listings for the fractional usage of services and assets.
Over the past year, cryptocurrency-backed lending has grown very popular with organizations like Salt Lending, and Unchained Capital trying to capture a piece of this emerging industry. Projects like Salt Lending have issued millions worth of crypto-backed loans so far and the teams behind these digital currency operations believe crypto-to-cash lending is going to be a pretty big deal in the future. Furthermore, this week a company called Nexo also plans to offer a digital currency for cash lending platform and raised $ 50Mn USD in capital from venture capitalists like the Techcrunch founder Michael Arrington.
A growing number of governments can’t resists the temptation to get their hands on some of the bitcoins their citizens are making. Several states, however, think that leaving some breathing space for crypto users and entrepreneurs is a better idea in the long run. Crypto-friendly tax regimes can still be found around the world.
Also read: Tax Paying Americans Owe $ 25 Billion in Cryptocurrency
Picking a winner in this year’s crypto markets has been a tough task. With assets deprecated across the board, even the best performing coins are in the red. To put it more accurately then, these are the least worst performing cryptocurrencies of 2018.
Also read: Eight Ways to Profit in a Crypto Bear Market
Bitcoin is down 58% in three months and down 66% from its all-time high. Most cryptocurrencies have shed even more since January, but a few have outperformed bitcoin. The handful that are in the green, such as ontology (up 110%) are only up because they weren’t introduced until 2018 was well under way. Had ontology, which was airdropped to NEO holders, been launched last year, there’s every likelihood it too would be in the red.
2018 has been a tough year for cryptocurrencies. It all started so promisingly, as January broke with the promise of $ 3 ripple and, in tron, an altcoin that was up 14,000% in 30 days. Things swiftly went south from there, and have been sinking ever since. Judged by their all-time high (ATH), the following coins are 2018’s greatest fallen angels.
Also read: Chinese Investors Use Wechat Brokers to Bypass ICO Ban
This is the second in a series by Aaron van Wirdum focusing on real people who use cryptocurrencies. Read about his earlier experiences in Italy here: “Real Users”: In This Mountain Town, Everyone Knows About Bitcoin.
The straight stone road from the partially crumbled city wall to the scaffolded church in the center of the central Italian town of Norcia is empty. It glimmers a bit from the rain; the weather is unusually wet for this region today. Tourists and day-trippers that would usually be strolling around the historic town center on Saturday afternoons like these are nowhere to be seen.
Each year, IBM showcases “5 in 5” technologies coming out of IBM Research’s global labs — five technologies that the company expects to fundamentally reshape business and society in the next five years.
This year, a “5 in 5 at a Science Slam” was held at Think 2018 in Las Vegas.
One of the 5 in 5 breakthrough technologies presented in Las Vegas is ultra-miniaturized cryptographic anchors.
Lead developer Andreas Kind heads the “Industry Platform and Blockchain” team at IBM Research Zurich, which contributes to the Hyperledger Blockchain Project and develops privacy and cloud security technologies.
Your Bitcoin transactions don’t have to be expensive and slow. With a little bit of know-how and pre-planning, you can keep transaction times and fees at a manageable level.
High transaction fees and long processing delays are top of the list when it comes to issues (and, in turn, discussion) surrounding Bitcoin right now and for good reason. The network is choking on the huge influx of volume seen over the last six months or so and – in its current format – it simply can’t handle the issues that scaling has brought to the table.
**On today’s episode of The Cryptoverse:**
An update on the Tezos controversy. Tezos Founders Sued for Securities Fraud in Potential Class Action, which could lead to a wave of copycat attacks on ICOs.
The lawsuit involved Tezos founder Kathleen and Arthur Breitman and Johann Gevers.
And we’ll do a daily check in on the progress towards the Segwit2x hard fork.
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