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17 July 2017, Phishkingz details the method of the stealing Bitcoin in his recent interview. He has generated $1 million during the time period of 14 months.

By stealing bitcoins Phishkingz generates $1 million during a year. Phishkingz claims that he has traded almost 500 bitcoins on Localbitcoin in last 14 months. Accordingly, most of them were generated through the process of phishing.

Phishkingz is the vendor of the dark market and his decision to start phishing was made the discovery of an error on Alphabay’s forum. In addition, that error is “that allowed [Phishkingz] to see new members the second they joined.” The hacker has the ability to make direct contact with new members of the platform, “send [ing[ them to my link with a verification process.” Then, “able to obtain the login details syncing, and the mnemonic phrases, as well as any PGP private key and password and pin code.”

Accordingly, “save a bookmark using blockchain.info… [and] highlight 50 [addresses] at a time every 20 minutes checking for deposits.” A huge number of extractions would be treated manually, despite initial experimentation with bots.

Are admins really caring about their customers?

In his interview, Phishkingz describes that Alphabay’s moderators are providing little support to his victims. “The admins didn’t really care about their customers, and it only took opening a support ticket with a problem to learn this. BM (Big Muscles – an Alphabay moderator) especially is a stupid one. He would let me into accounts for 50% if I provided mnemonic phrase knowing I had phished the account in the first place.”

He also claims to, “have moved to Dream Market and already made 4 BTC since yesterday launching the new site.”

The phisher’s number of hacking Bitcoin is increasing rapidly. Tezos ICO attracts the phisher’s attention. While other hackers are creating websites with fake ICOs, victim’s computers through downloading nasty software masked as project white paper. In addition, Bitcoin and other cryptocurrencies seeing unprecedented media exposure. While increasing numbers of the hackers and scammers indicate an unfortunate and predictable consequence of digital currencies’ acceptance.

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How to Set Up a Bitcoin Mining Rig w/ BITMAIN ANTMINER U2 & CGMiner

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What is the Real Value of a Bitcoin?

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In the past decade, Cryptocurrencies have become a revolution in the modern economy and banking system. It acts as an alternative currency which serves as a financial transaction database for the general public and the cryptocurrency which pave the way for this successful revolution is Bitcoin. Bitcoin was the first of its kind and introduced in 2009 and since then it serves as the digital gold standard in the whole cryptocurrency industry. The value of bitcoin has been increasing over the past decade and the value of bitcoin in future estimated to have upgradation after recognizing present rate of increment. The value of bitcoin has increased from 0 to 7300 dollars from its introduction in crypto industry.

value of bitcoin in future

  • Value as a Currency

Bitcoin has emerged as a new world currency over the past decade. It serves as a global way of payment. Usually, the currency system depends upon the country’s economy and a centralized banking system which check the exchange rates of the currency with the global stock exchange. But Bitcoin doesn’t need all. It doesn’t depend upon any banking system.

Nowadays Bitcoin is usually measured or exchanged in terms of American dollars or Japanese yen it means anyone can exchange bitcoin either in dollars or yen depending upon the rate of exchange in the global market which can be high or can be low as zero. The difference between the other currencies which are supported by the banking system and bitcoin is that it doesn’t require any banking structure for its exchange and can be exchanged for dollars and yens depending upon their values.

  • Value as an Investment

In the field of Finance, the investment is a term which generates a value that describes the sum of future revenues generated. Up till now, bitcoin doesn’t hold any type of present and future revenues so It can say that now Bitcoin as an investment has zero minimal value.

According to the famous businessman, Warren Buffet bitcoin cannot become an investment and it is a mirage. Buffet said the idea which has high inherent value is just a joke in his view and it will have a bad ending.

  • Bitcoin a New Gold

Sometimes Bitcoin is also referred to as a new gold due to its inability to generates revenues. The assets which don’t generate any revenue such as gold but the gold has minimal value because of the industrial use and the manufacture of industrial goods that has given gold a minimal value despite having no financial assistance. Bitcoin has been compared to gold over the years due to having low financial investment.

  • Bitcoin as a Ponzi Scheme

Bitcoin also termed as a Ponzi scheme, which is described by the fraud investment in which manager provides fabricated reports and try to lure the new investors into the reports so they invest in their project and generates revenue for the older investors.

The characteristics of Ponzi scheme is:

  1. Usage of verbal guises
  2. Encouragement of high return to the new investor that lure them to invest
  3. Not having solid assets ground
  4. Minimal withdrawal of money by providing new plans

In the end, it can be said that the Bitcoin has integrated a revolution in the modern currency and banking system and the value of bitcoin has proved its popularity among the people and made it a global way of payment. In the recent, the value of bitcoin in future will increase as the rate of increment in the present time and maybe it will become a new gold or a mode of investment.

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Selling of bitcoin

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Bitcoin selling is not that much simple as you buying bitcoin. But we are here to guide you to cash out your digital currency. When you are mentally prepared to sell your bitcoin, you have two options in front of you selling bitcoin online and selling bitcoin in person. You have to decide that which option you are going to choose because both options have advantages and disadvantages. Here we will discuss both options to clear your difficulty.

Online selling bitcoin

This is the most common option of trading your bitcoin. Which include the three ways of selling your bitcoins.

  1. Direct trade
  2. Exchange trade
  3. Peer to peer trading marketplaces

 

Direct trade

and then put an offer of sale. Sites alert you when a buyer will available and you can contact the buyer by using a website to complete your trade. Bitbargain and bootylicious are quite different so you have some patience.

Exchange trade

In this way, you also have to verify yourself. You may not be going to trade with an individual but with an exchange. Where exchanges act intermediary who keeps’s everyone’s funds. You just need to place a sell order, amount and type of currency you want to sell, and per unit price you want to sell. As soon as buy order places, an exchange will complete the transaction and your desired currency will be credited to your account. The downside is if you are selling bitcoin for fiat currencies, you have to withdraw those funds to the bank. These are some difficulties you can face in future If you’ll make the wrong decision with bitcoins. So be careful while you are purchasing or selling the bitcoin. Circle, Kraken, and Bitstamp are some examples of crypto to fiat currency.

On the other side, you can use the currency directly in shops where bitcoin directly use or a bitcoin shop rarely accept lite coin and dogecoin. that’s the rare case if someone wants to use pure currency exchange to change bitcoin for another currency.

For exchange, BTC e-charges a flat 0.2%. but on the other hand, you must store on exchange for your future.

Selling of bitcoin

  • Peer-to-peer trading

Trading in which site like brawler and purse combine the two or more groups of people to competes for their specific issues. In this process, the first group combines the group of people who wants to buy goods from sites which don’t accept digital currency directly. They want to be able to use bitcoin. And in second, there is that type of people who buy bitcoin with a credit or debit card. The marketplace combines the people of same requirements.

  1. Emi place her amazon wish list on marketplace
  2. Hash want to buy bitcoin by using his credit/debit card on the same rate place by Emi. So, he’ll accept the trade by using marketplace platform. And things were delivered to Emily’s place.
  3. Once the good delivered, hash’s bitcoin are released and arrive in his wallet.

In this system, hash pays an amount for service but easily able to attain bitcoin via bank card.

Withdrawing from your own funds

The worldwide way of moving money is international wire transfer. Most of the online bitcoin markets use this way also. But for the ease of the people, another way of transferring your money is single European payment areas. This SEPA was created to make international transfer between the member if European union more efficiently. e-support these payments.

Transfer take a long time and heavy charges of services. If you are going to open an account for this purpose you’ll face heavy refusal from banks. HSBC directly refused this guide accounts for bitcoin trading.

Your identification is necessary

Your identification is must when you are going to buying or selling the bitcoin. While you going to buy a bitcoin, there will be a small process of your identification but when you are going to sell your bitcoin, you must face different difficulties. So, while buying the bitcoin, you must complete your identification process. When you first enter, the site makes your identification clear by uploading at least two utility bills, your pic, id card to make your selling process easier.

When you are going to sell your bitcoins, you have to be aware of several things,

  1. You can use mobile phone application for the calculation of the rates.
  2. Worldwide meetup of bitcoins is existing. Where people easily trade the bitcoin and cryptocurrencies.
  3. Many use the same price as prominent bitcoin exchange or bitcoin desk.
  4. For the sake to cover costs, some seller applies the percentage on the top of the rate.
  5. Prices vary from country to country, so it will help you in local fluctuations.
  6. Keep yourself safe, so create your meeting in public places.
  7. There is a site, where you are can easily advertise yourself as a bitcoin seller.

Good luck

 

 

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Ethereum Wallets – Top 5 Ethereum Wallets To Store Your Coins

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In the world of digital currency, there are numerous names that claim to be the best of the pack. They will often come up with catchy advertisements to grab the attention of those looking to invest in virtual currency.

However, Most of these so-called cryptocurrencies are scams – working for the sole purpose of stealing your money. If you want to make a safe investment, Bitcoin and Ethereum are the securest options, and to keep your digital assets secure, you will need a digital wallet.

Our previous articles were about Bitcoin and the wallets that store Bitcoin. In this article, we are going to talk about the best wallets to secure Ethereum.

Most Popular Ethereum Wallets:

Our rundown of most popular Ethereum wallets starts with:

CoinBase:

CoinBase is one of the largest and most reliable digital wallets to store digital coins such as Bitcoin, Ethereum, Litecoin, etc.

The wallet was established in 2012 and is available in both app and web versions. One of the primary advantages of CoinBase is that it doesn’t only allow users to store digital assets but also gives the option to buy crypto through bank transfer.

EthereumWallet:

EthereumWallet is a Canadian based wallet which uses a JavaScript design. The wallet collects data at the client side where an address is created to support Ethereum transactions. EthereumWallet is considered one of the safest to secure your Ethereum assets.

MyEtherWallet:

The wallet allows its users to send and receive coins simultaneously with the help of an Ethereum address. Similar to Ethereum wallet, MyEtherWallet uses a JavaScript-based design and collects data on client’s side. Due to the fact that data generation is done in the browser instead of the server, MyEtherWallet enables you to make offline transactions: my personal favorite feature of this wallet.

Exodus Wallet:

Exodus is a desktop wallet with a catchy UI and alluring design. In terms of UI and also the security, Exodus is one of the best if not the best wallet out there.

Exodus is only partially open source and there are many components that are restricted to the third party. In simple words, the Bitcoin community does not get to review the full code of Exodus wallet. But, if you are looking for your Ethereum safety, you can opt for Exodus without a second thought.

ETHADDRESS:

Another Ethereum wallet with a design developed in JavaScript. Similar to EthereumWallet and MyEtherWallet, ETHADDRESS also facilitates data generation at the client side but is different in look; more like a paper wallet to be precise.

Wrap Up:

So, these are some top Ethereum wallets to store your coins. All are pretty safe, secure, and easy to use. If you have any questions regarding these wallets or any other subject related to cryptocurrencies, please drop them in the comment section below.

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