The Best in Crypto – 1/26/18

$6 Million Ponzi: CFTC Charges “Gold-Backed” Crypto My Big Coin With Fraud

Claiming it was backed by gold, My Big Coin (MBC) managed to attract investors (most from Massachusetts), misappropriating more than $6million from customers in a cryptocurrency-fueled Ponzi scheme. Now the CFTC has filed charges against (MBC) and its founders (CCN).

Robinhood Mobile App to Launch Zero-Fee Crypto Trading in February 

In February, a no-cost trading app called Robinhood will allow you to trade cryptocurrency with no fees whatsoever. Most exchanges have fees ranging from 0.1 to to 4.0 percent, such as Coinbase (Cointelegraph).

Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, Cardano: Price Analysis, Jan. 25

Price analysis, with graphs, of the top cryptocurrencies on the market (Cointelegraph).

Bitcoin Takes Davos Stage in Currency Panel Debate 

The panel dubbed “The Crypto Asset Bubble” (with some big names) spoke at the World Economic Forum in Davos, Switzerland about the question of whether of not cryptocurrency is a currency (Coindesk).

Crypto Exchange Coincheck Abruptly Suspends Withdrawals 

Major Japanese exchange Coincheck has announced a halt in many services, including withdrawals. Coincheck has given no statement regarding the cause of the issue, and Coindesk will be monitoring the evolving situation (Coindesk).

Bitcoin Price (BTC) is Dropping as Japan’s Coincheck Halts Withdrawals 

The price of Bitcoin has slumped more than six percent this morning because of Coincheck halting client withdrawals (Fortune).

50 Cent Forgot He Had a Stash of Bitcoin Now Worth $8m

50 Cent confirmed his $8 million Bitcoin ‘win’ when he tweeted, “Not bad for a kid on the South Side, I’m proud of me.” He received the bitcoin as a form of payment for his 2014 album (BBC).

So, Why Shouldn’t I Buy Bitcoin?

Starting out with the rise of value and positive buzz about Bitcoin, the writer emphasizes the ‘lottery-like’ nature of Bitcoin investment and the unknown future value of Bitcoin (CNN).

Your Sloppy Bitcoin Drug Deals Will Haunt You For Years 

The explanation of how transactions made on the Silk Road years ago are still traceable (Wired).

Will the Price of Bitcoin Keep Dropping?

Consultant and analyst answered the question with the opening, “There is no such thing as a meaningful Bitcoin price prediction” (Forbes).

Bitcoin is Getting Bashed at Davos but the Crypto World is Fighting Back

While the potential of Blockchain was praised at the World Economic Forum, Bitcoin got slammed. Comments made about it include the eventual downfall of the cryptocurrency (predicted to happen in 100 years), and the reputation that Bitcoin is used for illicit activity (CNBC).

 

 

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