The Friday June 8th Edition of The Cryptocurrency Novice Report
Welcome to The Cryptocurrency Novice Report for Friday June 8, 2018.
Word to the Wise
Today on Word To The Wise, we take a look at a rather novel mining company called 8bit.
8bit claims to have discovered how to use 30 year old gaming consoles and software to mine cryptocurrencies.
They have a very simple investment plan that offers a daily 0.5% return on your investment paid at the end of 30 days.
Of course 8bit is just a scam. Even though their investment plan is far less than the usual 5000% scams we see on a daily basis, we still know 8bit are frauds. Mining cryptocurrencies is about power. You need modern CPUs, GPUs or ASICs to mine cryptocurrencies. Hardware like this GTX 1080Ti.
Not like this antique. You cannot mine cryptocurrencies with a Nintendo Entertainment Center, it would be like trying to empty the Oceans with a thimble.
But of course, they claim that you cannot lose money investing with them. Oh Bowser, how could you let yourself get mixed up with such seedy people?
We all know that any investment or mining company that claims you cannot lose money is a sham. Do not send your money to 8bit, they will just steal it. And don't waste your time trying to mine cryptocurrency with a NES.
Money For Nothing
Today's Money For Nothing is a chance to claim 150 IND tokens, worth $15, from Indie Party. This airdrop is available to US citizens only.
To claim your free IND tokens, follow this link to complete the form and get registered for the airdrop. You will need an ERC20 compatible Ethereum wallet to claim the tokens.
If you don't already have an ERC20 Ethereum wallet, you can get one from MyEtherWallet.com for free.
Indie Party is trying to improve politics in America by introducing a strong independent party and they hope this coin will help get it going. You can learn more about it at https://indieparty.com/.
The Report
After a strong showing yesterday afternoon, where the cryptocurrency market value reached a peak of $350 Billion there has been a little weakness today. Currently the broad market value is $342 Billion. Now here's a closer look at how our favorite coins are performing.
Currently Bitcoin is trading at $7636, down 0.7% since this time yesterday afternoon.
Steem is trading at $2.28, down 2% in the last 24 hours. Now that the false data coming out of HitBTC has been excluded, SBD is back to trading in a normal range. Currently SBD trading at $1.68, down 2.6% since this time yesterday.
Currently on the Steemit Market, Steem is trading for 1.397 SBD. The price of Steem continues to hover around 1.4 SBD as Steem and SBD are mostly moving at the same speed, in the same direction.
The supply of liquid Steem has increased by 180,000. Currently there are 78.0 million liquid Steem. This is the first time that the amount of liquid Steem has exceeded 78 million since March 2, 2018.
Please note: I am not an investment professional. The information I present here is only my opinion. I do not encourage you to invest in any coin I mention, especially those featured in the Money for Nothing section, since most of these are not going to make it and may even be a scam. I only suggest you claim the free airdrops offered, nothing more.
Until next time...
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That's a sweet looking GPU! What kind of hash rate do you get with it?
740 Sol/s mining Equihash coins like Zcash which is usually the most profitable algorithm for the card.
how many scams are going around with such people damnn i feel for those who got scammed daily under that
I feel sorry for those who get taken advantage of because they are new to cryptos or don't have knowledge that something is fraudulent. I don't have as much sympathy for people who let themselves get scammed because they got greedy.
I think I would rather play the NES then use it to mine anyways :)
Nothing like the nostalgia rush of playing an old-time game.
I have one here that I am thinking of firing up and playing some good ol fashion .... Mario !
Nostalgia FTW !
What???
So does that rule out the Atari 2600 and the Commodore 64? Do you remember those babies?
I even heard fruit machines can mine with their graphics cards as well. We'll be mining with our toasters and fridges before you know it. ;-)
Do I remember my Commodore 64? Of course! Some of the best games I ever played were on my Commodore. Also played on the 2600 some, but never got much play time since my little brother was always on it.
Haha! Quality bit of nostalgia right there dude. I even had the laser gun to go with it for games like Platoon and would get right to the very end, and could never complete it. The one that got away. ;-)
Cryptocurrency Novice report is very informative for us. Thanks @gregory-f
Thank you!
Welcome Brother