Celsius Network’s bungling showed why centralization can’t protect privacy
Celsius’ bankruptcy proceedings resulted in 14,000 pages of customer data leaking to the public. The incident displayed the pitfalls of centralized finance.
Celsius’ bankruptcy proceedings resulted in 14,000 pages of customer data leaking to the public. The incident displayed the pitfalls of centralized finance.
The FOMO is real with the doggy coins right now and the fact is if you didn’t buy doge at .06 like it’s been for months, you missed the pump. We are all hurting for green dildos right now, I know I am. But we should all remember some lessons that I learned the hard…
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October 29, 2013, the first Bitcoin ATM was opened in a small coffee shop in Vancouver, Canada. Trading at around $200, this enabled casual customers of coffee to swap fiat for Bitcoin and vice versa. Mitchell Demeter, co-founder of the Bitcoiniacs brand ATM said at the time: "Bitcoin is the best performing currency in the…
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It was about time that MLM made an appearance. Multi-Level Marketing explains a lot about the OneCoin story. In this ONE-HOUR episode of “The Missing Cryptoqueen,” we’ll learn about the secret ingredient that catapulted Dr. Ruja from the millions to the billions. We’ll meet interesting people and the plot will thicken. Also, the size of the OneCoin scam will increase significantly. This thing gets bigger by the episode, which is what makes the show so entertaining. What a clusterfuck this was. Related Reading: Cardano Price Misses Fireworks On Its Birthday, How Far Will ADA Fall? It begins by answering the question posed in episode 4. Could an unrecognizable version of Dr. Ruja have been in attendance at the Miss OneLife beauty pageant? The production team shows a UK plastic surgeon pictures from the event. There was a person with OneCoin’s main directors that they suspect might’ve been Ruja Ignatova. He hesitates, but when Jamie Bartlett tells him that the person they’re looking for is a billionaire with an infinite budget, he changes his mind. “It’s possible, those things can be changed,” he says. That being settled, let’s get into MLM. Remember, you can download episodes directly from the BBC, or listen to “The Missing Cryptoqueen” through Apple, Spotify, or iVoox. About MLM And “The Missing Cryptoqueen,” Episode Five – “What Dreams May Come” This episode’s protagonist was the #1 seller of OneCoin at one point. He’s a professional multi-level marketer with an army of professional MLM salespersons at his disposal. His house is called “What Dreams May Come,” which inspired the episode’s title. This man’s tongue is the main reason this episode is one hour long. His stories are phenomenal, everyone should listen to them. Especially considering we’re going to skip them and stick to the core story. So, network marketing, MLM, or multi-level marketing is the missing ingredient. When this man’s company started working for OneCoin, they put an army of top-level marketers to push the product. And it sold like hotcakes. “In the first year, it made more millionaires than Amway ever did in their 75 years of history,” he claims. The kicker to this part of the story is that the MLM marketer alleges that he believed Dr. Ruja and put more money into OneCoin than anyone on earth. According to the released FBI documents we found last time, Dr. Ruja and company called this operation “The B*tch of Wall Street meets MLM.” You can’t make this stuff up. In an archival audio file, we hear her announce that OneCoin was going to inflate the supply 10X and the crowd cheered. Then, contradicting every economic law, she told them that the more OneCoin there were, the best it was for them. They Cheered. Then, by decree, she doubled the amount of OneCoin everyone had in their vaults. People lost their minds. Besides MLM, two of the most mind-blowing revelations the episode contains are in the following quotes. Quotes From “The Missing Cryptoqueen,” Episode Five – “What Dreams May Come” Tim Curry, OneCoin critic, said: “The math of this is just completely ridiculous. Every minute 50,000 OneCoins are mined, right? Now, the value of those at today’s “price” of €29.95 would be €1.5 million a minute, is what they’re claiming right? And per hour, that’s €89.85 million. And then, per day, they’re creating €2.15 billion out of thin air, right? And so, the logic of it is just ridiculous. Now, if you follow how many coins have been mined for the first quote “Blockchain.” And then, from October 1 to present, it’s nearing about 70 billion coins. If we take 70 billion coins and multiply that by the internal price of 29.95, you’re looking at, I think it’s like $1.8 trillion or $2.1 trillion. Which is greater than all of the US dollars in circulation on earth, which is about $1.67 trillion.” About the fact that OneCoin did have a certificate saying they were Shariah-compliant that was issued from Pakistan, Amjad Mohammed, scholar from Bradford and OneCoin critic, said: “What Sharia compliant is supposed to mean, is that somebody has carried out thorough research, gone through all the conditions, gone through all the terms with a fine tooth comb. There was no evidence of any research whatsoever. It was just a blank certificate saying “this is okay.” Amjad issued a fatwa against this, a ruling that OneCoin was not halal. And then, “within weeks, the conditions which I had highlighted as being problematic changed. So, clearly, somebody was keeping a watching brief of what I was doing because I only picked a couple in the initial fatwa. However, OneCoin does not actually exist. So, I can easily make any form of conditions for something, when the actual thing does not exist. It’s a fraud.” MLM And The Perfect Scam Near the end, Jamie Bartlett reflects on the story so far: “There’s something strangely beautiful about the OneCoin scam. It’s like the perfect scam. It combines the hype and terminology of cryptocurrencies and the hard-nosed MLM selling of people like Igor Alberts. It uses glamorous events and household brands to create the veneer of respectability and protects it with a religious-like zeal. And who could ever doubt the intentions of the trustworthy Dr. Ruja.” The cult-like aspects of the whole ordeal are ever-present in this episode. The whistleblowers tell the producers about the death threats they get like it’s nothing. For people inside of OneCoin, they’re traitors of the highest order. For these religious zealots, Dr. Ruja is still running the whole operation from the shadows, and the people that want to silence her are just jealous “haters.” Related Reading: Sam Bankman-Fried Eyes On Bidding For Celsius Assets Before finishing, Jamie Bartlett explores the idea that, when it mixed with MLM, the OneCoin operation got too big. Maybe Dr. Ruja was scared, as she seems to show in an alleged email. Apparently, this was supposed to be a little scam, but it caught fire. And Dr. Ruja’s backers were not going to let a golden goose die. Episode Credits Presenter: Jamie Bartlett Producer: Georgia Catt Story consultant: Chris Berube Editor: Philip Sellars Original music and sound design: Phil Channell Original music and vocals: Dessislava Stefanova and the London Bulgarian Choir Previous Companion Guides For BBC’s “The Missing Cryptoqueen” Podcast: Ep. 01 – https://www.newsbtc.com/news/bitcoin/ep01-dr-ruja-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Ep. 02 – https://www.newsbtc.com/news/bitcoin/ep02-btc-killer-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Ep. 03 – https://www.newsbtc.com/altcoin/ep03-onecoin-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Ep. 04 – https://www.newsbtc.com/scams-and-fraud/ep04-onelife-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/
If you were to look at the daily active addresses on Ethereum (layer 1) over the last few years, we have seen a steady increase but nothing face melting. Around a 2X which is great. https://preview.redd.it/mcu3o7ujpsw91.png?width=1906&format=png&auto=webp&s=240abae1692f0fadfc5cb2b234e7045ea6aaedaa The additional ~200,000 addresses interacting daily represents an expanding community of users/devs/stakers. These people are likely price insensitive,…
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The DOGE price action brings reminisces of the 2021 bull run to crypto traders and market participants. The meme coin is trending to the upside, supported by the Elon Musk Twitter takeover. The billionaire purchased the social media for over $40 billion, and the market expects Dogecoin to play a role in its future. Related Reading: THETA Shows Renewed Vigor – How Far Can The Coin Push Ahead? At the time of writing, the DOGE price stands at $0.13 for the first time since May 2022. The meme coin records a massive profit of 56% in the last 24 hours and 121% over the previous seven days. The general sentiment in the market is optimistic for the first time since the Ethereum “Merge.” DOGE Price Forecast Better Days For Altcoins? Across social media platforms, crypto traders speculate about a potential upside move for altcoins and meme coins. In addition to the DOGE price, Shiba Inu (SHIB) has recorded positive momentum and a 35% profit in the past week. According to a pseudonym trader, SHIB’s price lags behind DOGE and could see further upside in the short term. On its way to the upside, SHIB’s 200-day Exponential Moving Average (EMA) could operate as critical resistance. Traders are betting on the DOGE price failure. If too many shorts piled up on the token’s price action, DOGE might have fueled to extend its bullish momentum. However, if the DOGE price continues to trend upward, SHIB and other altcoins might break past their resistance levels. In that sense, leverage positions to the upside or downside could risk more spikes in Dogecoin’s volatility. With the looming announcement of a Twitter integration, DOGE might see more price action finally breaking out from a tight sideways range. Sam Trabucco, the former CEO at Alameda Research in 2021, highlighted that the DOGE price is susceptible to “bullish impetuses.” This phenomenon makes the meme coin’s moves more extreme, with the potential to surpass market expectations. And even recently, this influenced how we bet on DOGE. We’ve held a long DOGE position for *months* and it’s gone great — all based on noticing how it goes up when Elon tweets: – likely some bullish impetuses (Elon, TikTok, ETFs, etc.) – more upside potential from liquidations pic.twitter.com/PChKs60xbr — Sam Trabucco (@AlamedaTrabucco) April 22, 2021 Bitcoin About To Be Outperform By DOGE And Meme Coins Dogecoin’s influence over the crypto market is starting to influence critical metrics. Bitcoin dominance (BTC.D), used to measure the percentage of the market formed by BTC’s market capitalization, is taking a massive loss. This metric was starting to rebound after a massive selloff. The number one cryptocurrency by market cap is showing bullish momentum, but altcoins could be about to steal its shine. Related Reading: Bitcoin Bearish Signal: Exchanges Receiving Large Deposits If the downside trend in Bitcoin dominance continues, DOGE will likely trend higher, pushing the altcoin sector up with it. Still, at this point in the Dogecoin rally, any position is high risk and vulnerable to volatility. #DOGE playing out with technical precision. @elonmusk closing the @Twitter deal has @dogecoin speculators aping into longs. Be careful. It could be the mother of all exit pumps. Rejected from monthly resistance. pic.twitter.com/tCE7pKfbGD — Keith Alan (@KAProductions) October 29, 2022
A committee of unsecured creditors stemming from the Celsius bankruptcy case has filed a motion with the court to stop the now-defunct crypto lender from selling the company’s stablecoin holdings. The written protest by the group of creditors against the sale follows objections from a slew of securities regulators filed on Sept. 29. Creditors Object […]
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