The Thursday July 12th Edition of The Cryptocurrency Novice Report

Welcome to The Cryptocurrency Novice Report for Thursday July 12, 2018.

Word to the Wise

Today on Word To The Wise, we take a look at a new investment/mining/consulting site called Bits-World.

In order to try to increase it's customer base, Bits-World claims to be everything for everyone, high interest paying investing for investors, a cloud mining site for miners and consulting/education for those who don't know how to do any of the above. But it all boils down to this, they only offer one thing, an investment plan that claims to pay 3% return per day.

In fact, it was rather difficult to figure out what services they were offering because their website is an awful mess of nonsense and meandering words that rarely make any sense. Here is a sample of some of their eloquent prose:

Other than a London address, the Bits-World website was short on information about the company. So I took a look at their testimonials to try to get a better feel for the company. Here are a few of them.

I found the second testimonial by Daniel Todd to be rather interesting. You see, even though Daniel is a data entry keyer at Electric Avenue, he also is a very familiar face on Pinterest and many other websites.

But the next testimonial was even more revealing. The man's photo used for Dianna J. Taylor, an obviously female name, was actually the photo of well known ESPN broadcaster and New York Yankees Manager, Aaron Boone.

So if the testimonials are all fakes, then so is Bits-World. They are not a cloud mining service, they will not pay you a 3% daily return and the only consulting advice they could give you is how to build a really, really bad scam website. Do NOT send your money to Bits-World, they are thieves and will rob you blind if you let them.

Money For Nothing

Today's Money For Nothing is a chance to earn XDAC tokens from xDAC just for performing some simple social media tasks.

Just click the link to go to the airdrop claim form and follow the instructions to complete the tasks you want to. 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.

xDAC is a self governing platform that allows you to create decentralized autonomous companies in a matter of minutes. xDAC has received a 4.4/5 rating by ICO Bench. You can learn more about xDAC and read their White Paper at their website, https://www.xdac.co/
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The Report

The cryptocurrency market has been in retreat the last couple of days. Currently the broad market is worth $245 Billion, down about $9 Billion, or 3.5% since this time yesterday. Here's a closer look at how our favorite coins are performing.

Currently Bitcoin is trading at $6191, down 3.7% since yesterday morning.

Steem is trading at $1.27, down 2.8% in the last 24 hours while SBD is trading at $1.07, down 5.6% since this time yesterday.

On the Steemit Market, the price of Steem is trading for 1.18 SBD. This is a pretty fair ratio compared to trading on the open markets, so if you are looking to trade Steem for SBD, or vise versa, you can feel confident you are getting a fair price on the Steemit internal market.

The supply of liquid Steem continues to eek upwards, rising by 230,000 Steem in the last three days. Currently the liquid supply is at 78.79 million Steem.

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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