#bitconnect ponzi

[hashtech]

Indian authorities seize $190M in crypto tied to BitConnect Ponzi scheme

🛑 Read Full Article 👇

[dannydehekfacts]

Danny De Hek's Troubled Past: A History of Controversy

BitConnect claims to be an open source, all-in-one bitcoin and crypto community platform designed to provide multiple investment opportunities with cryptocurrency education, where it is entirely possible to find the independence we all desire. The top of the page depicts a man with what is supposed to be a peaceful and serene face. The dream is depicted to be convinced that all its clients are making money with their venture, and among the interaction pictures shown, one can spot a picture of a timing boxing master, the face that stops many from thinking about any kind of Ponzi. But don't believe in this innocent face. The man in this picture is Danny De Hek. He is a very famous name in the Ponzi scheme fraud.

A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organization. This looks to be the most recent example of a series of Ponzi schemes. The schemes share a recipe based on a combination of concepts that exploit their potential client's eagerness to invest their money, leaving the investors with empty pockets. 

Ponzi Scheme And Fraud

At the same time, they made significant profits for those that were fast enough to get in and out of this fraud. It seems that in the most recent example, the fast actors were including its organizers. After building high level trust, extreme secrecy and a common dream of astonishing wealth, this dream will be shattered by a very few.

Money Loss In Ponzi Schemes

The amount of money lost by investors in Ponzi schemes over the years, especially in the Binary Options sector and those related to the cryptocurrency market, has become staggering, signaling how robust are these kinds of recursive fraud. Notable earlier examples are Ponzi schemes that were successful in cushioning the blow of the Stock market crash, and others, including more recent ones, have been targeted by securities regulators, and their leaders have been prosecuted. Others have profited and gone free, dodging a judiciary system that turned a blind eye to them while setting their scheme up, but that burst when an acting atypically smart client noticed something fishy and warned the authorities. Hope you are noticing a pattern. Wait and see, it can be a pricey game.

Controversies Surrounding Avenger Danny De Hek

I think it is well known by now - at least within the New Zealand financial crime community. Many people have write their reviews about him. Their experience is very worst with him.

Wrapping Up

In the context of cryptocurrencies, not everyone knows the real control or vulnerability resolution applied to fraud with them. In this way, this research proposes to present the control and resolution actions for fraud practiced through cryptocurrencies, arguing that the blockchain is a reliable means of registration and, therefore, all transactions can be verified. In order to analyze the control and resolution actions of fraud in cryptocurrencies, it is very important to get real information about the investor. If you are thinking of investing money in cryptocurrency, then stay away from Danny De Hek. He is a fraud in the financial world.

Source : https://dannydehekfacts.blogspot.com/2024/11/danny-de-heks-troubled-past-history-of.html

[debbybass]

Dead Coins: Das Phänomen gescheiterter Kryptowährungen

In der sich schnell entwickelnden Welt der Kryptowährungen gibt es nicht nur Erfolgsgeschichten wie Bitcoin oder Ethereum. Eine Vielzahl von Projekten scheitern und enden als sogenannte Dead Coins. Diese Kryptowährungen starteten einst mit ehrgeizigen Zielen, wurden jedoch aus unterschiedlichen Gründen aufgegeben oder verloren ihren gesamten Wert. Solche Coins spielen keine Rolle mehr auf dem Markt und werden auch nicht mehr gehandelt.

Im folgenden Artikel werden die Ursachen und Beispiele für gescheiterte Kryptowährungen erläutert.

Was ist ein Dead Coin?

Ein Dead Coin ist eine Kryptowährung, die ihren Wert verloren hat, keine aktive Community oder Entwickler mehr hat oder schlichtweg aufgegeben wurde. Dies kann durch verschiedene Ursachen wie Betrug, mangelnde Adoption, technische Fehler oder regulatorische Herausforderungen geschehen. Im Wesentlichen ist der Coin „tot“, da er keine Funktionalität mehr bietet und keinen aktiven Handel erfährt.

Kriterien für Dead Coins:

Keine Marktplatznotierung mehr

Verlassenes Entwicklerteam

Inaktive Community

Offensichtliche Scam-Projekte

Gründe für das Scheitern von Kryptowährungen

Es gibt mehrere Faktoren, die dazu führen, dass Kryptowährungen scheitern. Einige dieser Gründe sind technischer Natur, während andere auf das Vertrauen der Nutzer und Regulierungen zurückzuführen sind.

1. Technische Probleme und Schwächen

Technische Mängel sind eine der häufigsten Ursachen für das Scheitern von Kryptowährungen. Fehler in der Blockchain-Technologie, mangelnde Skalierbarkeit und Sicherheitslücken führen oft zum Verlust des Vertrauens in das Projekt. Diese technischen Schwächen sorgen dafür, dass die Nutzer und Investoren sich von der Kryptowährung abwenden.

Ein klassisches Beispiel dafür ist Bitconnect, das aufgrund technischer Unzulänglichkeiten und seines Ponzi-Schemas zusammenbrach. Obwohl Bitconnect in seinen frühen Tagen große Aufmerksamkeit erregte, zeigte sich schnell, dass das Projekt technisch und rechtlich problematisch war.

2. Mangelnde Adoption und Unterstützung

Ein entscheidender Faktor für den Erfolg von Kryptowährungen ist die Unterstützung durch die Community. Fehlt es an einer aktiven Nutzerschaft, stirbt ein Projekt meist langsam aus. Viele Dead Coins scheiterten daran, dass sie keine überzeugenden Anwendungsfälle boten oder das Interesse der Öffentlichkeit nicht wecken konnten.

Ein Beispiel ist Myspace Coin, das als Währung für die gleichnamige soziale Plattform konzipiert wurde. Das Projekt scheiterte jedoch, da die Nutzerbasis fehlte und der Coin wenig Anwendungsmöglichkeiten fand.

3. Betrug und Scam-Projekte

Leider gibt es in der Krypto-Welt zahlreiche betrügerische Projekte. Viele Dead Coins waren von Anfang an darauf ausgelegt, Investoren zu betrügen. Diese Scam-Projekte versprechen hohe Renditen, sammeln Geld über Initial Coin Offerings (ICOs) und verschwinden dann, ohne je einen funktionierenden Coin zu entwickeln.

Eines der bekanntesten Beispiele für einen Betrug in der Kryptowelt ist OneCoin. Dieses Projekt sammelte Milliarden von Dollar ein, bevor es als riesiger Scam entlarvt wurde. Solche Fälle sind ein wesentlicher Grund für die Entstehung vieler Dead Coins.

4. Rechtliche Probleme

Regulatorische Hürden können ebenfalls dazu führen, dass Kryptowährungen scheitern. Da Regierungen auf der ganzen Welt beginnen, den Krypto-Markt strenger zu regulieren, haben einige Projekte Schwierigkeiten, sich an die neuen Vorschriften anzupassen. Manchmal werden Projekte geschlossen, weil sie gegen bestehende Gesetze verstoßen, oder ihre Gründer werden rechtlich belangt.

Ein prominentes Beispiel für ein solches Scheitern ist die venezolanische staatliche Kryptowährung Petro. Trotz großer Ankündigungen scheiterte Petro aufgrund mangelnden Vertrauens und rechtlicher Probleme, die mit der tatsächlichen Absicherung durch Ölreserven verbunden waren.

Beispiele für Dead Coins

1. Bitconnect (BCC)

Bitconnect war eines der umstrittensten Krypto-Projekte und wurde schließlich als Ponzi-Schema entlarvt. Es versprach unrealistisch hohe Renditen für Investoren und brach schließlich 2018 zusammen, nachdem zahlreiche rechtliche und technische Probleme auftraten.

2. Petro (PTR)

Petro war eine staatliche Kryptowährung, die von der venezolanischen Regierung im Jahr 2018 eingeführt wurde. Obwohl das Ziel darin bestand, die Hyperinflation zu bekämpfen, war das Projekt von Anfang an umstritten. Der Mangel an internationaler Unterstützung und die wirtschaftlichen Probleme Venezuelas führten zum Scheitern von Petro.

3. Myspace Coin

Myspace Coin war als digitale Währung für die ehemalige soziale Plattform Myspace gedacht. Der Coin scheiterte jedoch aufgrund der geringen Nutzerakzeptanz und verschwand schließlich vom Markt, nachdem die Plattform selbst in Vergessenheit geriet.

Wie erkennt man potenziell scheiternde Kryptowährungen?

Investoren sollten wachsam sein und potenzielle Dead Coins frühzeitig erkennen. Einige Anzeichen deuten darauf hin, dass eine Kryptowährung wahrscheinlich scheitern wird:

Mangelnde Transparenz: Wenn das Entwicklerteam keine klaren Informationen über das Projekt oder dessen Fortschritt teilt, ist Vorsicht geboten.

Geringe Aktivität in der Community: Wenn die Kryptowährung wenig Aktivität in sozialen Netzwerken oder Foren zeigt, deutet das auf eine geringe Unterstützung hin.

Unklare Roadmap: Projekte, die keine klaren Entwicklungsziele haben oder deren Roadmap nicht konkret ist, sind oft dem Scheitern geweiht.

Fazit: Die Lehren aus Dead Coins

Dead Coins sind ein unvermeidlicher Teil der Kryptowährungswelt. Sie sind das Ergebnis von überzogenen Versprechungen, technischen Mängeln, Betrug oder mangelnder Adoption. Investoren sollten immer sorgfältig recherchieren, bevor sie in ein neues Projekt investieren, um nicht Opfer eines gescheiterten Projekts zu werden.

Um fundierte Entscheidungen zu treffen und mehr über die Geschichte von Dead Coins zu erfahren, ist es ratsam, sich auf verschiedenen profile seiten zu informieren, die detaillierte Einblicke in vergangene Projekte bieten.

[ailtraai]

Protecting Your Investments: How to Spot and Avoid Crypto Trading Scams

Ways to Spot and Dodge Crypto Trading Scams

Understanding Common Crypto Scams

1. Ponzi Schemes Ponzi schemes promise high returns with little to no risk. They rely on new investors to pay returns to earlier investors, creating an illusion of a profitable venture. Eventually, these schemes collapse when there are not enough new investors.

2. Pump and Dump Schemes In a pump and dump scheme, scammers artificially inflate the price of a cryptocurrency through false or misleading statements. Once the price has been pumped up, they sell off their holdings at a profit, leaving other investors with worthless coins.

3. Fake Exchanges and Wallets Scammers create fake cryptocurrency exchanges and wallets that mimic legitimate ones. These fake platforms are designed to steal your personal information and funds when you attempt to trade or store your crypto.

4. Phishing Scams Phishing scams involve fraudulent attempts to obtain sensitive information such as usernames, passwords, and private keys by masquerading as a trustworthy entity in electronic communications.

5. ICO Scams Initial Coin Offerings (ICOs) are used by startups to raise capital. Scammers create fake ICOs, convincing investors to buy in with the promise of future profits, only to disappear with the funds.

Red Flags to Watch Out For

1. Unbelievable Returns If an investment opportunity promises returns that seem too good to be true, they probably are. Always be skeptical of guaranteed high returns with minimal risk.

2. Pressure to Invest Quickly Scammers often create a sense of urgency to make you invest quickly without giving you time to think or research. Legitimate investments will not pressure you to act immediately.

3. Lack of Transparency A legitimate crypto project should have a clear and transparent business model, team, and roadmap. If you can’t find verifiable information about the people behind the project or the project’s goals, it’s a red flag.

4. Unsolicited Offers Be wary of unsolicited investment offers, especially those that come via social media, email, or phone calls. Scammers often use these channels to reach potential victims.

5. Poorly Written Whitepapers The whitepaper is a crucial document for any cryptocurrency project. It should be detailed, clear, and well-written. A poorly written or vague whitepaper is a sign that the project may not be legitimate.

Protecting Yourself from Scams

1. Do Your Research Before investing in any cryptocurrency, conduct thorough research. Verify the credentials of the team, read the whitepaper, and check for reviews or news about the project. Ailtra provides detailed analyses and resources to help you make informed decisions.

2. Use Reputable Exchanges and Wallets Stick to well-known and reputable cryptocurrency exchanges and wallets. Check for user reviews and ensure the platform has strong security measures in place.

3. Enable Two-Factor Authentication (2FA) Enable 2FA on your accounts to add an extra layer of security. This makes it harder for hackers to gain access to your accounts.

4. Be Skeptical of Unsolicited Communication Always be cautious when receiving unsolicited messages. Never share your personal information or private keys with anyone, even if they claim to be from a reputable company.

Case Studies of Common Scams

1. BitConnect BitConnect was one of the most notorious Ponzi schemes in the crypto world. It promised high returns through a trading bot that supposedly could generate consistent profits. In reality, it was using new investors’ money to pay returns to earlier investors. The scheme collapsed in early 2018, leading to massive losses for many investors.

2. OneCoin OneCoin was marketed as a new cryptocurrency, but it turned out to be a global Ponzi scheme. The promoters of OneCoin lured investors with the promise of high returns and claimed it would be the next big thing in crypto. However, OneCoin was never actually traded on any legitimate exchange, and the founders disappeared with billions of dollars.

3. Mt. Gox Mt. Gox was once the largest Bitcoin exchange, handling over 70% of all Bitcoin transactions worldwide. In 2014, it collapsed after hackers stole 850,000 Bitcoins. The incident highlighted the importance of using secure and reputable exchanges.

How Ailtra Helps You Stay Safe

At Ailtra, we are committed to helping our clients navigate the complex world of cryptocurrency safely. Here’s how we do it:

1. Comprehensive Research and Analysis We provide detailed analyses of various cryptocurrencies and projects. Our reports cover the team, technology, market potential, and risks, helping you make informed decisions.

2. Educational Resources Our educational resources cover a wide range of topics, from the basics of cryptocurrency to advanced trading strategies. We also keep you updated on the latest scams and security practices.

3. Secure Trading Platform Ailtra offers a secure trading platform with advanced security features, including 2FA and encryption. We regularly update our security protocols to protect your funds and personal information.

4. Community Support Join our community of like-minded investors to share insights, ask questions, and stay informed. Our support team is always ready to assist you with any concerns or questions.

Conclusion

The rise of cryptocurrencies has brought many opportunities, but also significant risks. Scammers are constantly evolving their tactics to exploit unsuspecting investors. By staying vigilant, doing thorough research, and using secure platforms like Ailtra, you can protect yourself from crypto trading scams. Remember, if something seems too good to be true, it probably is. Stay informed, stay skeptical, and stay safe.

At Ailtra, your security and success are our top priorities. Join us today and invest with confidence.

[market-news-24]

Investing in cryptocurrency can be risky, especially with so many failing names in the Market. It's important to be cautious and do your research before putting your money into any digital assets. Here are three cryptocurrency names that you should avoid due to their declining performance. Click to Claim Latest Airdrop for FREE Claim in 15 seconds Scroll Down to End of This Post const downloadBtn = document.getElementById('download-btn'); const timerBtn = document.getElementById('timer-btn'); const downloadLinkBtn = document.getElementById('download-link-btn'); downloadBtn.addEventListener('click', () => downloadBtn.style.display = 'none'; timerBtn.style.display = 'block'; let timeLeft = 15; const timerInterval = setInterval(() => if (timeLeft === 0) clearInterval(timerInterval); timerBtn.style.display = 'none'; downloadLinkBtn.style.display = 'inline-block'; // Add your download functionality here console.log('Download started!'); else timerBtn.textContent = `Claim in $timeLeft seconds`; timeLeft--; , 1000); ); Win Up To 93% Of Your Trades With The World's #1 Most Profitable Trading Indicators [ad_1] Cryptocurrencies have been under intense scrutiny in 2024 due to regulatory and legal pressures. Despite the anticipation of a price hike following Bitcoin's recent halving event, the growth hasn't been as explosive as expected. Some experts predict Bitcoin could reach $200,000 or even $1 million in the near future. While Bitcoin and Ethereum continue to show potential, there are certain cryptos to avoid at the moment. Ripple, known for facilitating cash and digital currency exchanges, is embroiled in a legal battle with the SEC, which could result in a hefty fine of $1.95 billion. This ongoing legal saga has dampened Ripple's outlook for now. Binance, the largest cryptocurrency exchange globally, is facing regulatory hurdles in multiple countries. Despite launching new initiatives like Binance Wallet to accept Bitcoin Atomic ARC-20 assets, the legal issues continue to pose a threat to BNB's future. Lastly, Shiba Inu, a meme coin that has gained significant popularity, may not hold long-term value beyond speculation. To mitigate risks, investors are advised to focus on cryptocurrencies like Ethereum and Solana, which are making significant advancements in transaction efficiency and network stability. In conclusion, it's crucial for investors to stay informed about the evolving landscape of cryptocurrencies and make strategic decisions to navigate the Market effectively. Win Up To 93% Of Your Trades With The World's #1 Most Profitable Trading Indicators [ad_2] 1. What are some failing cryptocurrency names to avoid? Some failing cryptocurrency names to avoid include Bitconnect, Centra Tech, and OneCoin. 2. Why should I avoid investing in Bitconnect? Bitconnect was shut down in 2018 after being accused of operating a Ponzi scheme, causing investors to lose millions of dollars. 3. What is the issue with Centra Tech? Centra Tech's founders were arrested for fraud and misleading investors about partnerships with major credit card companies. 4. Why is investing in OneCoin risky? OneCoin is considered a scam by many experts, with its founder facing criminal charges for creating a fraudulent cryptocurrency scheme. 5. What can I do to protect myself from investing in failing cryptocurrencies? To avoid investing in failing cryptocurrencies, do thorough research, seek advice from trusted sources, and only invest in well-established and reputable projects. Win Up To 93% Of Your Trades With The World's #1 Most Profitable Trading Indicators [ad_1] Win Up To 93% Of Your Trades With The World's #1 Most Profitable Trading Indicators Claim Airdrop now Searching FREE Airdrops 20 seconds Sorry There is No FREE Airdrops Available now. Please visit Later

function claimAirdrop() document.getElementById('claim-button').style.display = 'none'; document.getElementById('timer-container').style.display = 'block'; let countdownTimer = 20; const countdownInterval = setInterval(function() document.getElementById('countdown').textContent = countdownTimer; countdownTimer--; if (countdownTimer < 0) clearInterval(countdownInterval); document.getElementById('timer-container').style.display = 'none'; document.getElementById('sorry-button').style.display = 'block'; , 1000);

[gigaspin88-id]

Waspada Penipuan Crypto: Panduan Lengkap untuk Mengenal dan Menghindari Bahaya

Cryptocurrency telah merevolusi cara kita berpikir tentang keuangan dan investasi. Namun, seperti halnya teknologi baru, muncul pula risiko baru, salah satunya adalah crypto scam. Artikel ini bertujuan untuk mengedukasi pemula di dunia crypto tentang berbagai bentuk penipuan yang ada di ruang ini dan bagaimana cara menghindarinya. Dengan pengetahuan yang cukup, investor dapat melindungi diri dari kerugian yang mungkin terjadi.

Apa Itu Crypto Scam?

Crypto scam adalah jenis penipuan yang menggunakan cryptocurrency sebagai alat untuk menipu korban. Bentuk penipuan ini dapat sangat beragam, mulai dari tawaran investasi palsu hingga platform perdagangan yang tidak benar-benar ada. Menurut beberapa sumber, kerugian yang disebabkan oleh crypto scam mencapai miliaran dolar setiap tahunnya, menjadikan ini sebuah topik penting untuk dipahami oleh para pemula di dunia crypto.

Metode Penipuan yang Umum

Phishing

Phishing adalah metode penipuan di mana penipu mencoba mendapatkan akses ke wallet atau akun crypto Anda dengan mengirimkan email atau pesan yang tampak sah. Pesan ini sering kali mengandung tautan ke situs web palsu yang mirip dengan layanan asli, di mana korban diminta untuk memasukkan kredensialnya.

Ponzi dan Skema Pyramid

Penipuan Ponzi dan skema pyramid di dunia crypto seringkali berkedok sebagai program investasi dengan janji pengembalian yang tinggi dan cepat. Pada kenyataannya, uang dari investor baru digunakan untuk membayar investor sebelumnya, yang akhirnya akan runtuh ketika tidak ada lagi dana yang masuk.

Pump and Dump

Skema ini melibatkan sekelompok orang yang memanipulasi harga coin dengan cara membelinya dalam jumlah besar, menaikkan harganya, dan kemudian menjualnya setelah harga mencapai puncak. Hal ini menyebabkan investor yang tidak sadar akan skema ini membeli pada harga tinggi dan menderita kerugian ketika harga jatuh.

Fake ICOs

Initial Coin Offerings (ICOs) yang palsu adalah salah satu bentuk penipuan yang paling merugikan. Penipu menciptakan proyek palsu, lengkap dengan dokumen teknis, situs web yang terlihat profesional, dan janji keuntungan yang menarik. Namun, setelah mengumpulkan dana dari investor, mereka menghilang tanpa jejak.

Cara Mengenali Crypto Scam

Mengenali crypto scam tidak selalu mudah, tetapi ada beberapa tanda peringatan yang dapat membantu:

Promosi yang terlalu bagus untuk menjadi kenyataan seringkali adalah indikasi penipuan.

Kekurangan informasi yang jelas tentang tim pengembang, lokasi perusahaan, atau rincian teknis proyek dapat menjadi tanda bahaya.

Situs web yang tidak aman atau memiliki kesalahan ejaan dan tata bahasa juga patut dicurigai.

Langkah-Langkah Perlindungan Diri

Untuk melindungi diri dari crypto scam, ikuti langkah-langkah ini:

Selalu lakukan riset mendalam sebelum berinvestasi dalam proyek atau platform apa pun.

Gunakan dompet yang aman dan berhati-hatilah saat menyimpan kunci privat Anda.

Verifikasi setiap tawaran investasi melalui berbagai sumber independen sebelum berkomitmen.

Studi Kasus

Kasus Bitconnect adalah salah satu contoh terkenal dari skema Ponzi di dunia crypto. Platform ini menjanjikan pengembalian yang sangat tinggi melalui program pinjaman cryptocurrency tetapi akhirnya runtuh pada Januari 2018, menyebabkan kerugian besar bagi banyak investor.

Kesimpulan

Kesadaran adalah kunci utama dalam menghadapi crypto scam. Dengan mengerti berbagai jenis penipuan dan mengambil langkah pencegahan, investor dapat melindungi diri mereka dari kerugian finansial yang tidak perlu. Mari kita jadikan investasi crypto sebagai pengalaman yang aman dan menguntungkan dengan bertindak cerdas dan berhati-hati. Bergabunglah sekarang dan rasakan sensasi bermain slot dari provider terkemuka seperti PGSoft, Pragmatic, dan Habanero bersama gigaspin88 .

[zennixit]

Unveiling the Landscape of Crypto MLM Companies in India: A Comprehensive Guide

In the rapidly evolving world of cryptocurrency, India stands as a significant player, witnessing a surge in interest and investment in blockchain technology and digital currencies. With the rise of innovative business models, Multi-Level Marketing (MLM) has found a niche within the crypto space, offering individuals opportunities to participate in the booming industry while earning commissions through network marketing.

If you're intrigued by the concept of combining cryptocurrency with MLM opportunities in India, you're in the right place. In this comprehensive guide, we delve into the realm of Crypto MLM companies in India, exploring their features, benefits, and potential challenges.

Understanding Crypto MLM Companies

Crypto MLM companies operate on the principles of network marketing, where individuals can earn commissions not only from their direct sales but also from the sales made by the members they recruit into the network. These companies leverage the power of cryptocurrencies, such as Bitcoin, Ethereum, and others, as the medium of exchange within their compensation plans.

The Appeal of Crypto MLM in India

Financial Inclusion: In a country like India, where traditional banking services may not be accessible to all, crypto MLM presents an opportunity for financial inclusion, allowing individuals from diverse backgrounds to participate in the digital economy.

Potential for High Returns: With the volatile nature of cryptocurrency markets, there's potential for substantial returns on investments, attracting individuals seeking lucrative earning opportunities.

Flexibility and Autonomy: Crypto MLM often offers flexible working arrangements, enabling individuals to work at their own pace and build their business from anywhere with an internet connection.

Factors to Consider Before Joining a Crypto MLM Company

Regulatory Compliance: Given the evolving regulatory landscape surrounding cryptocurrencies in India, it's crucial to ensure that the MLM company complies with relevant laws and regulations to avoid any legal complications.

Transparency and Security: Look for companies that prioritize transparency in their operations and offer robust security measures to safeguard your investments and personal information.

Product or Service Offering: Evaluate the products or services offered by the company. Are they legitimate and valuable, or do they primarily rely on recruitment for revenue generation?

Compensation Plan: Understand the compensation structure thoroughly, including commission rates, bonuses, and any requirements or quotas you need to meet to qualify for earnings.

Popular Crypto MLM Companies in India

BitConnect: Despite its controversial history, BitConnect gained popularity in India for its promise of high returns through lending and staking programs. However, it faced regulatory scrutiny and eventual shutdown.

OneCoin: Another infamous example, OneCoin claimed to be a legitimate cryptocurrency but was later exposed as a Ponzi scheme, resulting in legal action against its founders.

GainBitcoin: Marketed as a cloud mining platform, GainBitcoin attracted Indian investors with promises of guaranteed returns. However, it faced allegations of fraud and Ponzi-like operations.

Conclusion

While the allure of combining cryptocurrency with MLM opportunities can be enticing, it's essential to approach such ventures with caution and due diligence. As the regulatory landscape continues to evolve in India, prospective participants should thoroughly research any Crypto MLM company before getting involved.

Remember, success in MLM requires dedication, persistence, and a solid understanding of both the product/service being offered and the mechanics of the compensation plan. By staying informed and making informed decisions, you can navigate the landscape of Crypto MLM companies in India responsibly and potentially reap the rewards of this burgeoning industry.

For more insights and updates on cryptocurrency trends and MLM opportunities, stay tuned to ZennixIT, your trusted source for innovative solutions in the digital realm.

[jayasuriyan]

Top 7 Blockchain Business Models That You Should Know

Blockchain has caught the attention of different industries. Not only is it changing the way a business works, but it is also allowing innovations to evolve at a faster pace. This is why you will find many companies that are adopting blockchain. These same companies are playing with blockchain, making it more feasible for more general implementation.

With this cutting-edge innovation, we are seeing the rise in the use of blockchain business models. In today's article, we will explore blockchain business models. Decentralization has changed the way we perceive the problems around us and solves them in unique ways. Not only that, but it also opens up many opportunities for businesses. So how do you approach it? Selecting and applying the appropriate blockchain business models is the answer.

The need for a blockchain business model.

Blockchain itself is a new business model. With blockchain, organizations can turn their businesses into a decentralized platform that can disrupt the functioning of their business. It changes the entities, transaction flow, profits and also ensures that growth is maintained during the change.

Since the advent of bitcoin in 2009, there have been many cases where  blockchain failed or at least blockchain  applications failed miserably. Partly it was due to how the implementation was done, but it was also due to the flawed business model used by the companies.

Blockchain-based business models, such as the BitConnect business model, were nothing more than a Ponzi scheme. There are other models as well that prey on the credulous. We are going to ignore all these types of scams and focus only on legitimate blockchain business models.

From a technical perspective, we need a business model based on blockchain, which improves the functioning of companies and benefits end users.

The blockchain-based business model should also start focusing on entrepreneurs instead of just investors. This will cause projects to focus on utility rather than market value. SuchApp is one such project that focuses on utility by providing a blockchain-based messaging platform. This means that blockchain business ideas should work on both a macro and micro level, benefiting both the company's internal employees and end users.

Understanding the traditional business model

To better understand blockchain business models, we first need to learn more about the traditional business model. All companies that do not use blockchain use the traditional business model.

So how does the traditional business model work?

They basically provide services or goods and make profits from it. Consumers purchase the product or service at a prescribed rate. The established rate consists of all salaries or other expenses that the company has or may have during the process of delivering the service or product. Every business has a different way of being run. However, they use a basic centralized model.

The model consists of four main entities. It includes the owners or shareholders, the organization, customers and employees.

Types of blockchain business models

Now that we have established a basic idea of ​​traditional blockchain models and how companies make money with them, let's talk about the most important blockchain business models .

1.Token Economy – Utility Token Business Model

The utility token business model is prevalent in the industry. We also mentioned earlier in the post, where we tried to understand a blockchain business model through the eyes of the utility token business model. Currently, there are tons of startups, businesses or e-commerce using the utility-based blockchain model. Few examples of decentralized businesses include BANKEX tokens, EDU tokens, etc. Ripple is also a utility token as it powers the network and facilitates network activities in one way or another.

Companies retain some utility tokens and release the rest for network functionality. When the utility token's value fluctuates, they profit. The idea of ​​working with tokens can be summarized with the word “Tokenomics”.

Utility tokens must have three important variables. For example, it must have a proper function, feature, and purpose.

2. Blockchain as a service business model (BaaS)

Blockchain as a service is one of the most popular blockchain business models out there. It is about providing an ecosystem for other companies to manage their  blockchain system . In this ecosystem, companies can experiment, test and do research. Right now, Microsoft (Azure), Amazon (AWS), IBM (BlueMix), etc. They offer blockchain as a service (BaaS) and are the perfect example of decentralized companies.

End users (in this case, companies, startups or organizations) do not have to worry about how the blockchain works and do not need to configure it before working on it. BaaS also eliminates the need for hardware, which, in turn, allows startups , companies or organizations to focus on their development cycle.

Most current blockchain solutions, including Bitcoin and Ethereum, can be served as a service. An example of this includes EBaas, Ethereum Blockchain as a Service (EBaaS). ConsenSys and Microsoft work together to manage and provide the service.

3. Development platforms

The general idea of ​​blockchain is still in its initial stage. A lot of development and research is going into blockchain as startups are trying to solve problems in unique ways. This brings us to our next decentralized business model known as development platforms. Companies today focus on developing applications that can result in blockchain infrastructure. Those applications that can be served using blockchain and the cloud to the end user provide rapid development.

Hyperledger is one such example that provides tools, frameworks, and guidelines for blockchain development services. The key here is  rapid  development, and they are trying to do just that. Other examples include Tendermint and EthCore.

BlockApps, an enterprise development blockchain application, provides a platform to launch enterprise blockchain applications.

4. Products based on blockchain software

The concept of blockchain was introduced in 2009. However, now, the need for blockchain is more than ever. This means that big players have to adopt blockchain soon.

The easiest way for them to cooperate is by purchasing a blockchain solution and integrating it into their system. This gives rise to blockchain companies creating a solution and then selling it to larger companies. Providing blockchain technology to other organizations can be extremely profitable, as they will not only receive a reasonable payment up front. Additionally, they will also need to provide support after implementation.

The MediaChain blockchain that was sold to Spotify is a perfect example of this type of blockchain business model . It is done to resolve music rights issues within the music industry. It will bring transparency in the system and reward music creators more for using an already established platform.

Another reason to purchase a blockchain-based software solution is the lack of talent in the market. Companies do not want to go through the talent acquisition process. That's why it's much easier for them to buy a blockchain solution that fits their requirements.

5. Network fee charge

Another blockchain business model is to have a network fee associated with the blockchain. This type of blockchain business model applies to solutions such as Ethereum or dApps that charge a small amount to the user for different activities on the network. For example, the Ethereum network charges Ethereum developers to make their dApp live. The same is true for NEO, which has a fee for dApp publishing.

6. Professional blockchain services

The last blockchain business model we are going to discuss is professional Blockchain services. These services are provided by market-leading development companies to startups or other businesses to make them blockchain ready. For example, a company wants someone to build their custom blockchain project. In that case, they can hire companies like Deloitte , IBM, or others to complete the project for them.

The key here is not to invest in the hardware, software or team building, but directly take the services of the blockchain development company that have perfected the art of blockchain development. You can also find smaller companies in this market. Overall, it is a great blockchain business model for talented blockchain professionals who want to use their skills to do business.

There are other forms of professional blockchain services. For example, many blockchain-enabled companies offer blockchain-related services, such as consulting, legal document development, or company auditing.

7.  Blockchain P2P Business Model

The P2P business model offers a peer-to-peer driven business. Blockchain technology has always been peer-to-peer. The P2P blockchain allows end users to interact with each other directly. This makes it part of almost all the other blockchain models we have discussed above. The P2P business model can be monetized in many ways, including tokens, BaaS, or transaction fees.

IPFS, an interplanetary file system takes advantage of this blockchain business model. Filecoin also uses the P2P business model of blockchain by providing a platform for data storage and sharing. To make it viable, anyone who hosts the files for other users will earn Free Coins for their contribution. Additionally, there is mining software that will allow users to share their unused storage space.

[raviojha]

Cryptocurrency Projects That Failed

There have been numerous cryptocurrency projects that have failed over the years. Due to the sudden failure of these projects, investors have lost thousands of dollars of investments. Here we are pointing out some notable crypto projects that failed:

Bitconnect: Bitconnect was a lending and exchange platform that promised high returns through its lending program and its own cryptocurrency (BCC). However, it turned out to be a Ponzi scheme, and the platform collapsed in early 2018 after receiving cease and desist orders from several U.S. states.

Mt. Gox: Mt. Gox was once the largest Bitcoin exchange in the world, handling over 70% of all Bitcoin transactions at its peak. However, in 2014, the exchange suffered a major hack and lost approximately 850,000 bitcoins belonging to its users. This incident led to its bankruptcy and eventual shutdown.

Ethereum’s DAO: The DAO (Decentralized Autonomous Organization) was a crowdfunding project built on the Ethereum blockchain in 2016. It aimed to be a decentralized venture capital fund and raised a significant amount of funds. However, a vulnerability in the code was exploited, resulting in the theft of approximately one-third of the funds. This event led to a contentious hard fork of the Ethereum blockchain, resulting in Ethereum (ETH) and Ethereum Classic (ETC) as separate cryptocurrencies.

Coinye: Coinye was a short-lived cryptocurrency project that attempted to use rapper Kanye West’s image and name without his permission. The project faced legal action from Kanye West, and although it briefly launched, it was forced to shut down due to legal pressure.

Prodeum: Prodeum was a cryptocurrency project that aimed to tokenize fruits and vegetables on the blockchain. However, it turned out to be an exit scam, with the project’s website disappearing shortly after its launch, leaving only the word “penis” behind.

Final Words

These are just a few examples, but there have been many other cryptocurrency projects that failed due to various reasons, such as regulatory issues, technical flaws, lack of adoption, or fraudulent activities. It’s important for investors and users to conduct thorough research before getting involved with any crypto project.

[cryptonews-es]

Mind Capital sigue la vieja fórmula de esquemas ponzi con una celebridad

Un nuevo competidor aparece en el escenario de las plataformas para generar ingresos desde casa sin hacer nada más que registrarse en su página, depositar tus fondos, y esperar que ellos hagan el trabajo por ti. Mind Capital está ganando auge por su amigable plataforma con una personalidad conocida, pero no se desprende de los mismos estándares de plataformas poco fiables que resultan ser esquemas piramidales del tipo ponzi.

Una web amigable donde depositar tus fondos, detrás de ella se promociona un innovador método para generar ganancias con operaciones de criptomonedas, le sigue, una promoción de rentabilidades diarias, consistentes y que puedes retirar cuando desees. Para muchos principiantes, esto suena como la gallina de los huevos de oro, para otros más experimentados, es el modus operandi habitual de las plataformas dedicadas a las criptoestafas. La nueva plataforma Mind Capital adjunta las mencionadas características a través de la promoción de su sistema de arbitraje cripto-fiat, según la información expuesta en su portal. 

No se debe juzgar a un libro por su portada

Los detalles de su funcionamiento no agregan mucha complejidad, pero si preguntas por hacerse. Puedes depositar Bitcoin en tu cuenta con un valor mínimo de 40 USD y máximo de 100.000 USD, estos se convertirán en un “token de uso interno que va a ser inalterable e igual a un dólar” pero que “no se considera stablecoin“, a partir de él usarán tus fondos en su bot de arbitraje de cripto/fiat que funciona en múltiples exchanges y según su información te repartirán diariamente el 65% de los rendimientos obtenidos, el otro 35% se los queda Mind Capital para “gastos de gestión y mantenimiento”. Aparecen las dos primeras preguntas:

¿cómo aseguran el valor de mi inversión convirtiendo mis Bitcoins en un token de “valor estable” que no existe registrado en ninguna Blockchain o mercado de criptomonedas?

¿a qué se debe realmente esa división de ganancias, a qué se refieren con “gastos de gestión y mantenimiento”?

La organización expone a Gonzalo García Pelayo como su CEO, nacido en Madrid, “productor musical, director de cine, locutor de radio, presentador de televisión y es famoso por haber vencido en los noventa a los casinos con su sistema de ruleta, cuya historia ha sido llevada a los cines con la película ‘The Pelayos‘” es la descripción que ofrece la web en su apartado de “Equipo corporativo”. 

Imagen cedida por Diario Córdoba

Debajo de esta descripción, tenemos unos links directos a notas de prensa, que curiosamente no tienen relación alguna con Mind Capital ni mucho menos aportan directa veracidad sobre sus operaciones, al contrario, nos encontramos con artículos de diversos medios que exponen a su director ejecutivo como “el hombre que desbancó a los casinos” o “el hombre que quiere desmontar la seguridad de internet“. Cabe destacar también, que la ubicación de la empresa se encuentra en Estonia, un país que no tiene registro de vinculación con los fundadores, sólo se menciona junto con la frase “el país más digital del mundo” como aparente razón de su elección para los cimientos de la empresa. Lo que ellos quieren que los usuarios vean es lo menos importante, la investigación exhaustiva de detalles que con el criterio del internauta puedan resultar en confianza o desconfianza es la clave.

Las mismas prácticas de los esquemas piramidales promocionados como plataformas de inversión

El primer paso es registrarse, después depositar, empiezas a generar rentabilidades diarias gracias a tu aporte, te invitan a invitar a otros a participar, y te ofrecen ganancias diarias en base a tus referidos. Es la misma receta que han ofrecido los históricos casos que empiezan ganando popularidad, y terminan mal, causando desprestigio e incertidumbre ante las inversiones en criptomonedas, como por ejemplo los famosos casos de Bitconnect, OneCoin o los ya advertidos como AirBit Club en México.

Comisión Nacional del Mercado de Valores (CNMV)Mind Capital no se ha quedado atrás en cuanto a advertencias se refiere, la Comisión Nacional del Mercado de Valores (CNMV) de España ha expuesto su observación sobre la empresa de criptoinversión, especificando que Mind Capital, como ocurrió con Kuailian “no está autorizada para prestar los servicios de inversión”, “ni está autorizada para realizar la actividades reservadas a las instituciones de inversión colectiva”. Nuevamente, la reiteración de la investigación del usuario y su criterio a fin del resultado de la misma es lo más importante, y lo que debe seguir como recomendación a la hora de participar en cualquier tipo de inversión.   Actualización 28 Julio:

El 16 de Julio del 2020, la Comisión de Valores de Texas declara a Mind Capital como una estafa piramidal, arresta a uno de los agentes de Mind Capital e inserta en la lista a varios españoles.

El 28 de Julio del 2020, la Comisión de Valores de Italia ha insertado a Mind Capital entre otras estafas en su lista negra y en los próximos días bloquearán su página web.

[cointahmin]

Kripto dolandırıcılığı son yıllarda dijital varlıkların bilinirlik ve yatırımcı sayısındaki artışa paralel olarak artış göstermeye başladı. Birçok kripto dolandırıcılığı projesi, kripto varlıklarının artan çekiciliğinden, “bir sonraki Bitcoin’i” keşfetme ihtimalinden ve kripto teknolojisinin temelleri ile ilgili genel bir halk eğitimi eksikliğinden yararlanır.Kripto Ponzi Planı Nedir?Bir kripto saadet zinciri kelam konusu olduğunda, dolandırıcılar hayali kripto işletmeleri kurar ve yatırımcıları çeşitli kıssalar ve kelamda istatistiklerle cezbeder. Kripto ile, kriptonun gerçekte nasıl çalıştığını derinden anlamayan yahut dijital varlıkların yatırımdan cazip getiri elde etme potansiyeli karşısında gözleri kamaşmış bir kitleye gerçekçi olmayan karları pazarlamak biraz daha kolaydır.Ponzi şemalarının tarihi ise 19. yüzyıla kadar uzanır. Lakin, 1920’lerin başlarında İtalyan bir dolandırıcı olan Charles Ponzi’nin yasadışı operasyonları, nihayet bu özel dolandırıcılık çeşidine ışık tutmuştur. Ponzi şemaları teknolojik gelişmelere paralel olarak gelişmiş olsa da, ekseriyetle makul noktalarla karakterize edilirler:Piyasa şartlarından bağımsız olarak süratli ve risksiz yatırım getirisi vaadiAçıklanamayacak kadar karmaşık olduğu argüman edilen bu çeşit programların ardındaki yatırım modelleri yahut iş faaliyetleri.İşletmenin ve yatırımlarının meşruiyetini ve varlığını kanıtlayabilecek dokümanlara erişimin engellenmesiEn Büyük 5 Kripto DolandırıcılığıKripto sanayisini yatırım fırsatlarıyla dolu olsa da bu durum birebir vakitte kripto dolandırıcılığı olaylarının da devamını körüklemektedir. Dijital varlıkların fiyat oynaklığı ve temel teknolojilerinin tabiatında bulunan karmaşıklıklar nedeniyle yatırımcılara meçhul ve gerçekçi olmayan kripto yatırım tahlilleri sunmak mümkündür. Hasebiyle dal, dolandırıcılık hadiselerine daha da açık hale gelmektedir.Biz de bu bahisten yola çıkarak kripto tarihinin en büyük 5 dolandırıcılık hadisesini sizler için derledik…1. OnecoinOnecoin, tahminen de kripto sanayisinde şahit olunan en uzun müddettir devam eden saadet zinciridir. Bulgar dolandırıcı Ruja Ignatova, namı öteki “Cryptoqueen” tarafından kurulan Onecoin, 2014-2019 yılları ortasında yatırımcıları kendi sayılarına çekmeyi başardı. Bu periyotta saadet zincirinin Onecoin’i “Bitcoin Katili” olarak pazarlayarak yatırımcıları 5.8 milyar dolar dolandırdığı söylendi. Bu “iş girişiminin” altında, üyelere yeni yatırımcıları her eklediklerinde nakit ve Onecoin ile ödeme yapan çok seviyeli bir pazarlama planı vardı. Sorun kendi başına pazarlama stratejisi değil, Onecoin’in kendi blokzincirine sahip olmamasıydı. Bu nedenle, yatırımcılar Onecoin satın aldıklarında ellerinde, kabul edilen dijital varlık teknolojisi tarafından desteklenmeyen bedelsiz bir para tuttular.Yatırımcıları Onecoin’e yatırım yapmamaları konusunda yıllarca uyardıktan sonra, ABD hükümeti sonunda şirketin operasyonlarını sertleştirdi ve önderlerine karşı suçlamalarda bulundu. Lakin tüm bu olaylar ortaya çıkana kadar Ignatova’nın kendisi de gözden kaybolmuştu.2. BitconnectBir öbür büyük kripto saadet zinciri olan Bitconnect, 2016 yılında aylık yüzde 40 getiri vaat eden bir Bitcoin borç verme tahlili olarak başlatıldı. Operatörler, açıkça bir takma isim olan Satao Nakamoto isimli bir kişi tarafından yönetilen bilinmeyen geliştiricilerdi. Yatırımcılar, BCC belirteçlerini satın almak, bunları platformda kilitlemek ve ticaret botlarının ticaret yapmak için kilitli fonlarını kullanmasını beklemek zorunda kaldı.Ethereum’un kurucu ortağı Vitalik Buterin , akabinde Mike Novogratz ve Charlie Lee, Bitconnect tarafından vaat edilen sürdürülemez yatırım getirilerini eleştiren birinci değerli şahıslardı. Planın Birleşik Krallık hükümetinin dikkatini çekmesi çok uzun sürmedi . Sonunda, ABD makamları Bitconect’i bir saadet zinciri ilan etti ve 2018’de faaliyetlerini durdurmasını talep etti. Akabinde, BCC’nin fiyatı yüzde 90 oranında düştü ve yatırımcıların toplu olarak 3,5 milyar doların üzerinde kaybetmesine neden oldu.

3. PlusTokenPlusToken, kripto dünyasında şimdiye kadar kaydedilen en son ve en büyük Ponzi şemalarından biridir. Dolandırıcılık, pazarlama kampanyasının birçoklarını Çinli iletileşme uygulaması WeChat aracılığıyla, yatırımcıları aylık yüzde 10-30 yatırım getirisi elde etme olasılığıyla baştan çıkararak yürüttü. PlusToken, çoğunluğu Çin, Güney Kore ve Japonya’da bulunan 3 milyondan fazla yatırımcıyı kendine çekti. Projenin tüm iş modeli, kripto okuryazarlığı ve bir cüzdan hizmeti etrafında toplanmıştır. Sonunda dolandırıcılar, yatırımcıları projenin belirteci PlusToken’ı satın alarak çıkarlarını artırmaya ikna etti.Yatırımcıları fonlarından bir yıl boyunca soyarak geçirdikten sonra, PlusToken takımı 2019’da programı kapattı ve 3 milyar doları aşan kripto para üniteleriyle çıkış yaptı. Bu kılavuzda bahsedilen Ponzi planlarının birden fazla üzere, yetkililer de planın baş aktörlerinden birkaçını tutuklamayı başardı. Daha sonraki Çin hükümeti, dolandırıcılıkla temaslı 4 milyar dolar bedelinde kriptoya el koydu. Bununla birlikte, bilinmeyen kuruluşlar 2020’de çalınan fonların bir kısmını muvaffakiyetle geri çektiğinden, olaya karışan tüm bireylerin izlenmediği görülüyor.4. GainBitcoin2016 yılında GainBitcoin, 18 ay boyunca aylık yüzde 10 getiri sağlama vaadiyle Hindistan merkezli bir bulut madenciliği tahlili olarak ortaya çıktı. Kulağa ne kadar saçma gelse de, proje Hintli yatırımcılardan en az 300 milyon dolarlık yatırım çekti. 2017’de, detaylı planı destekleyen ne fizikî madencilik ekipmanı ne de rastgele bir madencilik operasyonu olmadığı ortaya çıktı. Neyse ki, planın beyni Amit Bhardwaj 2018’de tutuklandı ve 8 binden fazla yatırımcıyı dolandırmakla suçlandı. Bununla birlikte, tüm göstergelerden, dava başarısız olmuş üzere görünüyor ve yatırımcıların kayıplarını telafi etmesi pek mümkün görünmüyor.5. Mining MaxGainBitcoin üzere Mining Max de yasa dışı operasyonlarının gerçek tabiatını gizlemek için kelamda bir bulut madenciliği teşebbüsü kullandı. Platform, yatırımcılara yaygın kripto aldatmacasından yararlanmak için bir yol vaat etti. Mining Max, yüksek getiri sağlama potansiyeline sahip bir çoklu kripto madenciliği ekosistemine katılma fikrini ortaya attı. Bununla birlikte, öteki tüm kripto saadet zinciri planlarında olduğu üzere, iş modelinin birden fazla, yeni yatırımları çekmeye yönelik ağır pazarlama kampanyalarına dayanıyordu.Toplamda Mining Max, 54 ülkede 18 binden fazla yatırımcıyı cezbetti. Toplanan 250 milyon doların yalnızca 70 milyon doları madencilik donanımı satın almak için harcandı. Paranın geri kalanı, Mining Max pazarlama kampanyasını ve takım üyelerinin fahiş ömür üsluplarını finanse etmek için kullanıldı. Bu dolandırıcılıkla ilişkili birkaç kuşkulu tutuklanıp suçlansa da şirketin lideri, lider yardımcısı ve başka komplocular hala kayıp.

[aialgox]

Cryptocurrencies have gained popularity as a form of investment and alternative to traditional currencies. As the cryptocurrency market continues to grow, so does the demand for crypto lending and borrowing services. Crypto lending and borrowing offers a way for investors to access cash loans or earn interest on their cryptocurrency holdings. However, as with any investment, there are risks and rewards to consider. Overview of Crypto Lending and Borrowing for Beginners Crypto lending and borrowing involves using cryptocurrency as collateral to obtain loans or earn interest on cryptocurrency holdings. Borrowers provide cryptocurrency as collateral to secure a loan, while lenders provide loans and earn interest on their loans. How Crypto Lending and Borrowing Works Borrowers use their cryptocurrency as collateral to obtain loans from lending platforms. Lenders provide loans and earn interest on their loans. The borrower can then use the loan for whatever purpose they desire, such as investing or trading. Lenders can also earn interest on their cryptocurrency holdings by lending them out to borrowers. Types of Crypto Lending and Borrowing Platforms There are three types of crypto lending and borrowing platforms: centralized, decentralized, and peer-to-peer. Centralized platforms are run by a central authority, while decentralized platforms are run by a network of computers. Peer-to-peer platforms allow lenders and borrowers to interact directly with each other. Examples of centralized lending and borrowing platforms include Nexo, Celsius Network, and BlockFi. Decentralized platforms include Compound, Aave, and MakerDAO. Examples of peer-to-peer platforms include Bitbond and BTCPOP. Benefits of Crypto Lending and Borrowing Crypto lending and borrowing can provide liquidity, flexibility, and access to capital for investors. Platforms can offer competitive interest rates, fast processing times, and no credit checks. Additionally, investors can use their cryptocurrency holdings as collateral without having to sell them, which allows them to maintain their long-term investment strategies. Examples of successful crypto lending and borrowing platforms include BlockFi, which has over $15 billion in assets under management, and Aave, which has over $15 billion in total value locked. Risks of Crypto Lending and Borrowing Like any investment, crypto lending and borrowing involves risks. Borrowing and lending platforms can expose investors to credit, market, and operational risks. For example, if the value of the collateral drops below a certain threshold, the lender may liquidate the collateral, which could result in losses for the borrower. Examples of unsuccessful crypto lending and borrowing platforms include Bitconnect, which was shut down in 2018 after being accused of operating a Ponzi scheme. Cryptocurrency Lending and Borrowing vs. Traditional Lending and Borrowing Crypto lending and borrowing offer advantages over traditional lending and borrowing, such as borderless transactions, fast processing times, and anonymity. Borrowers do not need to have a credit history, and there are no restrictions on how they use the loan proceeds. Examples of differences between crypto lending and borrowing and traditional lending and borrowing include the use of cryptocurrency as collateral and the lack of credit checks. How to Choose a Crypto Lending and Borrowing Platform When choosing a crypto lending and borrowing platform, investors should consider factors such as interest rates, collateral requirements, and platform security. They should also research the platform's reputation, user reviews, and regulatory compliance. Examples of how to choose a crypto lending and borrowing platform include comparing interest rates and fees across multiple platforms, reading user reviews on social media platforms, and checking the platform's regulatory compliance with government agencies. Getting Started with Crypto Lending and Borrowing Platforms

To get started with a crypto lending and borrowing platform, investors need to create an account, complete the verification process, and deposit cryptocurrency as collateral or lend cryptocurrency. Once the account is set up, they can begin borrowing or lending cryptocurrency. Examples of how to get started with crypto lending and borrowing platforms include creating an account on a platform like Nexo or Compound, completing the verification process, depositing cryptocurrency as collateral or lending cryptocurrency, and earning interest on their holdings.   Best Cryptocurrencies for Lending and Borrowing The best cryptocurrencies for lending and borrowing are those that have high liquidity and are widely accepted as collateral. Bitcoin and Ethereum are popular choices due to their high market capitalization and liquidity. Stablecoins such as USDT and USDC are also popular as they offer price stability and low volatility. Examples of successful lending and borrowing with different cryptocurrencies include using Bitcoin as collateral to obtain a loan on Celsius Network and using USDC to earn interest on Compound. Crypto Lending and Borrowing Rates Crypto lending and borrowing rates are determined by supply and demand, collateral requirements, and platform fees. Higher demand for loans and lower supply of available collateral can lead to higher interest rates. Collateral requirements vary depending on the platform and the cryptocurrency used as collateral. Platform fees may include origination fees, maintenance fees, and prepayment fees. Examples of crypto lending and borrowing rates include 3.5% APY on BlockFi for deposits of USDC and GUSD and 8.5% APR on Celsius Network for loans using Bitcoin as collateral. Crypto Lending and Borrowing Strategies Investors can use crypto lending and borrowing to access capital, trade on margin, and hedge against market fluctuations. Accessing capital allows investors to use their cryptocurrency holdings to obtain cash for personal or business purposes. Trading on margin allows investors to amplify their gains or losses on cryptocurrency trades. Hedging against market fluctuations allows investors to mitigate the risk of price fluctuations in their cryptocurrency holdings. Examples of successful crypto lending and borrowing strategies include using borrowed funds to invest in high-growth cryptocurrency projects, using margin trading to amplify gains on Bitcoin trades, and using borrowed funds to hedge against market downturns. Tax Implications of Crypto Lending and Borrowing Crypto lending and borrowing and interest income are subject to tax laws in different countries. Investors should consult with a tax professional to understand the tax implications of lending and borrowing and interest income. Examples of tax implications of crypto lending and borrowing include the treatment of interest income as taxable income in the United States and the requirement to report cryptocurrency gains and losses in countries such as Canada and Australia. Regulatory Framework for Crypto Lending and Borrowing Platforms Crypto lending and borrowing platforms are subject to regulation and supervision by government agencies. The regulatory framework varies depending on the country and jurisdiction. Some countries have implemented strict regulations, while others have taken a more hands-off approach. Examples of regulatory frameworks for crypto lending and borrowing platforms include the licensing and supervision of crypto lending platforms by the Financial Conduct Authority in the United Kingdom and the regulation of crypto lending platforms as financial institutions by the Monetary Authority of Singapore. Future Prospects for Crypto Lending and Borrowing Platforms Crypto lending and borrowing platforms are expected to continue to evolve and play a significant role in the cryptocurrency market. The growth of decentralized finance (DeFi) platforms and the increasing adoption of cryptocurre

ncies by mainstream investors are likely to drive the growth of crypto lending and borrowing platforms. Examples of future prospects for crypto lending and borrowing platforms include the development of new lending protocols and the integration of lending platforms with other DeFi applications such as yield farming and liquidity provision. Conclusion Crypto lending and borrowing offer a way for investors to access cash loans or earn interest on their cryptocurrency holdings. However, as with any investment, there are risks and rewards to consider. Investors should carefully evaluate the risks and benefits of crypto lending and borrowing, choose a reputable platform, and understand the tax and regulatory implications. With the growth of the cryptocurrency market and the increasing adoption of cryptocurrencies by mainstream investors, crypto lending and borrowing platforms are expected to continue to play a significant role in the cryptocurrency ecosystem.   Investors and traders in the cryptocurrency market should stay informed about developments in the crypto lending and borrowing space, evaluate the risks and rewards of these services, and choose platforms that align with their investment goals and risk tolerance. By doing so, they can take advantage of the opportunities offered by crypto lending and borrowing while managing the associated risks.

[quicontent]

Us Has Charged an Indian Citizen With $3.4 Billion Ponzi Scheme

If convicted of all counts, he faces a maximum total penalty.

A federal grand jury returned an indictment today charging Satishkumar Kurjibhai Kumbhani, a citizen and resident of India, with multiple crimes for his alleged role in the fraudulent Bitconnect investment platform.

[zennixit]

Unveiling the Landscape of Crypto MLM Companies in India: A Comprehensive Guide

In the rapidly evolving world of cryptocurrency, India stands as a significant player, witnessing a surge in interest and investment in blockchain technology and digital currencies. With the rise of innovative business models, Multi-Level Marketing (MLM) has found a niche within the crypto space, offering individuals opportunities to participate in the booming industry while earning commissions through network marketing.

If you're intrigued by the concept of combining cryptocurrency with MLM opportunities in India, you're in the right place. In this comprehensive guide, we delve into the realm of Crypto MLM companies in India, exploring their features, benefits, and potential challenges.

Understanding Crypto MLM Companies

Crypto MLM companies operate on the principles of network marketing, where individuals can earn commissions not only from their direct sales but also from the sales made by the members they recruit into the network. These companies leverage the power of cryptocurrencies, such as Bitcoin, Ethereum, and others, as the medium of exchange within their compensation plans.

The Appeal of Crypto MLM in India

Financial Inclusion: In a country like India, where traditional banking services may not be accessible to all, crypto MLM presents an opportunity for financial inclusion, allowing individuals from diverse backgrounds to participate in the digital economy.

Potential for High Returns: With the volatile nature of cryptocurrency markets, there's potential for substantial returns on investments, attracting individuals seeking lucrative earning opportunities.

Flexibility and Autonomy: Crypto MLM often offers flexible working arrangements, enabling individuals to work at their own pace and build their business from anywhere with an internet connection.

Factors to Consider Before Joining a Crypto MLM Company

Regulatory Compliance: Given the evolving regulatory landscape surrounding cryptocurrencies in India, it's crucial to ensure that the MLM company complies with relevant laws and regulations to avoid any legal complications.

Transparency and Security: Look for companies that prioritize transparency in their operations and offer robust security measures to safeguard your investments and personal information.

Product or Service Offering: Evaluate the products or services offered by the company. Are they legitimate and valuable, or do they primarily rely on recruitment for revenue generation?

Compensation Plan: Understand the compensation structure thoroughly, including commission rates, bonuses, and any requirements or quotas you need to meet to qualify for earnings.

Popular Crypto MLM Companies in India

BitConnect: Despite its controversial history, BitConnect gained popularity in India for its promise of high returns through lending and staking programs. However, it faced regulatory scrutiny and eventual shutdown.

OneCoin: Another infamous example, OneCoin claimed to be a legitimate cryptocurrency but was later exposed as a Ponzi scheme, resulting in legal action against its founders.

GainBitcoin: Marketed as a cloud mining platform, GainBitcoin attracted Indian investors with promises of guaranteed returns. However, it faced allegations of fraud and Ponzi-like operations.

Conclusion

While the allure of combining cryptocurrency with MLM opportunities can be enticing, it's essential to approach such ventures with caution and due diligence. As the regulatory landscape continues to evolve in India, prospective participants should thoroughly research any Crypto MLM company before getting involved.

Remember, success in MLM requires dedication, persistence, and a solid understanding of both the product/service being offered and the mechanics of the compensation plan. By staying informed and making informed decisions, you can navigate the landscape of Crypto MLM companies in India responsibly and potentially reap the rewards of this burgeoning industry.

For more insights and updates on cryptocurrency trends and MLM opportunities, stay tuned to ZennixIT, your trusted source for innovative solutions in the digital realm.

[gendihn]

Promotor australiano de Bitconnect enfrenta hasta 47 años en prisión

Promotor australiano de Bitconnect enfrenta hasta 47 años en prisión

La Comisión Australiana de Valores e Inversiones, o ASIC por sus siglas en inglés, acusó al ex representante australiano de BitConnect por su participación en el multimillonario esquema Ponzi relacionado a criptomonedas.

Según una declaración del 17 de noviembre de la ASIC, la comisión, con la ayuda del Buró Federal de Investigaciones (FBI) de los Estados Unidos, acusóa John Louis Anthony…

[erinptah-admin]

Ok since your explanations are the best ive heard yet what the hell is blockchain?

...well, full disclosure, the technical side of this is way out of my depth, and I have the Wikipedia article on blockchain open as I'm typing this.

But let me throw some general information out there, see if it helps.

Blockchain is the technology that Bitcoin and other cryptocurrencies run on. Also other stuff, but the crypto market is the most famous thing it's used for.

At heart, it's just a list of records ("blocks"). In cryptocurrency, these are mostly records of "Person A transferred X amount of Currency Y to Person B."

The records are linked into a "chain" because each individual record includes information about the record before it.

So you can't sneak in a new/altered block somewhere in the middle, because it won't fit the information in the block that's supposed to come after it. The system can tell it's not a valid part of the chain.

(I always had the impression crypto transactions were supposed to be private and untraceable...? But apparently, nope. These might be the most irrevocably traceable records on the internet.)

This is (at least part of) why blockchains use so much energy -- the bigger a chain gets, the more computing power it takes to confirm the integrity of the whole thing.

That's baked into the design. It's unavoidable. Lots of people are talking about "more environmentally friendly" blockchains these days -- that just means "the energy increase happens more slowly."

It'll take longer to hit the massive energy demands of, say, present-day Bitcoin. But since "up" is the only direction it can go, it will get there eventually.

Blockchains are mostly decentralized, which is good for security. If you think about a normal website, you could hack into the server it's hosted on and change the master files, but with a blockchain there's no single host, no master files.

...except, some companies have tried to start private blockchains for their own internal use, and those are centralized. Which, as far as I can tell, takes away the only major advantage of using a blockchain? Now it's just a database, but more expensive. (Thank you, constantly-increasing electric bills.)

In spite of those security advantages, a blockchain is not "unhackable". It still has the one huge, unfixable vulnerability of any system:

Human users.

I don't need to accomplish the impossible hacking feat of "corrupting the chain with invalid blocks" to steal your Bitcoin. All I need to do is talk you into giving up your password.

Then I log onto your account, change the password, and do whatever the heck I want with your Bitcoin directly! Creating totally-valid blocks the whole time.

Also: users can be scammed by the creators in all kinds of new and exciting ways.

Governments have not caught up to regulating blockchain-based currency the way they do traditional money (and the banks, stocks, investments, etc. that it comes in).

Which means people can do things with crypto that would be 100% illegal with any other currency, and then skate away with millions, never getting arrested for fraud.

Consider:

Save The Kids Token: promoted as having special code that would prevent huge sell-offs from tanking the price, changed the code at the last minute, huge sell-offs immediately tanked the price

Squid Token: hyped as skyrocketing in value, but the code didn't let anyone sell it at all, meaning nobody could withdraw any of that "value" to actually use it anywhere

OpenSea: promoted as a reputable NFT exchange, one of the staff was happily arranging it so the promoted "hottest NFTs worth spending the most money on" were the ones he owned

Bitconnect: promoted as a cryptocurrency investment that gave great returns, was a regular old-fashioned Ponzi scheme the whole time

Defi100: promoted as a crypto investment something something, anonymous developer walked away with $32 million leaving nothing but the all-caps announcement "WE SCAMMED YOU"

OneCoin: promoted as a hot new cryptocurrency, literally did not ever have a blockchain

...okay, yeah, "sharing a list of my favorite crypto-related scams" is a big tangent from the original question. I'm just really into learning about these things lately. They're fascinating. I could listen to scam history recaps all day and never get bored. Never go into repeats, either -- this rabbit hole runs deep, and there's always new material coming in.

(Sometimes I see people saying things like "NFTs were supposed to be valuable and good for artists, it's a shame they've been overrun with exploitation and scamming." Problem is, NFTs never did any of the things that supposedly make them so useful. Sure looks like "convincing people these are valuable and good for artists, somehow" was just another dishonest crypto scheme from day one.)