The Wednesday June 6th Edition of The Cryptocurrency Novice Report
Welcome to The Cryptocurrency Novice Report for Wednesday June 5, 2018.
Word to the Wise
Today on Word To The Wise, we take a look at another investment site called eBitInvest.
eBitInvest claims to have been established in 2015, which is an extremely long time compared to most of the companies featured on Word to the Wise who have been around for only 1 or two days.
With their vast amount of experience, eBitInvest has come up with a very simple investment plan. If you send them some Bitcoin, in 5 days they claim they will send you back twice as much. Send them 1 Bitcoin, 5 days later they claim they will send you 2 Bitcoin back. Send them 20 Bitcoin, 5 days later they claim they will send you 40 back. Very simple!
They have a vast amount of experience in their management team, all of whom own red ties.
In fact, I could not really find anything wrong with eBitInvest. Except of course that they are liars. You see, the red tie management team is fake. They are just a collection of pictures stolen from other sites. For example A. Loewe, the manager is really Paul Kuhn.
E. Butler, one of their analysts, is really Brett Bauch.
And S. Ramerez, the notorious programmer? He's really Tom Brien.
I could go on and highlight all the rest of the fraudulently represented management team members, but I think you get the picture. The Management team for eBitInvest does not exist. So if eBitInvest will fake their management team, everything else about them is also certainly a lie. They are really just a scam. They will not send you double your Bitcoin. Not in 5 days, not in 5 years. Do not send them Bitcoin, they will just steal it all!
Money For Nothing
Today's Money For Nothing is a chance to claim 10 APLC tokens from Cinema Well.
To claim your free APLC tokens, follow this link to start the bot 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.
Cinema Well is a new social media site that seeks to unite movie goers and filmmakers. You can learn more about Cinema Well and see some of the movies they are featuring at https://cinemawell.com/.
The Report
The cryptocurrency market is showing a little weakness this afternoon after having a strong morning. Currently the broad market value is $339 Billion, having lost about $3 Billion since yesterday. Here's a closer look at how our favorite coins are performing.
Currently Bitcoin is trading at $7528, down 1.3% since this time yesterday afternoon.
Steem is trading at $2.41, up 1.5% in the last 24 hours, while SBD is currently showing a bit of an anomaly, trading at $7.06, up 303% since this time yesterday. If you don't believe me, see for yourself, here's a snapshot of the activity as reported on CoinMarketCap.
Right now, it looks like this big jump is being driven by trading activity on only one exchange, HitBTC. Let's hope this price movement spreads to the other markets!
Currently on the Steemit Market, Steem is trading for 1.40 SBD. So we aren't seeing the big jump in SBD reflected here yet.
The supply of liquid Steem is unchanged since yesterday. Currently there are 77.83 million liquid 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...
Proud member of @qurator! Click below to find out more about this fantastic Steemit community.
This is jump is caused by HITBTC.
HitBTC is not really trading any SBD. It is all fake. Investors are winning and loosing big on it with real money, but the virtual supply of SBD on HitBTC is fake.
Her is why. HitBTC has abandoned the central STEEM/SBD wallet for 5 months (presumably forever). Within their exchange they have a virtual wallet system. Normally when you transfer STEEM or SBD in or out of the exchange, you would send it through a central wallet via a memo to keep track of who has what.
Since HitBTC has abandoned their STEEM/SBD wallet for so long, people who have transferred any STEEM/SBD into HitBTC have long since sold it for something else or just abandoned it.
You can go and look at the HitBTC STEEM/SBD wallet and you will find that nothing is happening to the balance.
So what are they trading?
Answer: It is fake money. Make believe. It is not real.
The only thing is real is investors are buying up this fake virtual money on HitBTC and trading it in high stakes gambling.
If HitBTC keeps up this system of fake currency trading on their exchange, people will eventually learn that HitBTC is not a real exchange and abandon it.
By the way, Poloniex is doing the same thing with STEEM and SBD.
Yeah, I saw that even thought HitBTC has over 100,000 Steem, they only have about 1200 SBD. No way they could have been trading the volume of SBD they claim. Glad I cleared out of that so called exchange a long time ago.
Well they sure know to steal identities lolz ;)
While about the pump in SBD in Hitbtc I was kinda shocked ;)
But those were lucky who had SBD in Hitbtc before the jump started ;)
Something very fishy about the volume that HitBTC claims in SBD. I'm glad to see CoinMarketCap is now excluding them from SBD price calculations.
great posts..most informative..and thnx for your support.
Thanks! And thanks for your great market analysis!
most welcome!! and your support helps make it happen!
sbd going for a moon shot but landed so badly after that lol and that hitbtc exchange is worse :(
I agree, I wouldn't trust HitBTC with my Bitconnect coins, if I had any, which I'm glad I don't.
Bro Great information for Double But I have not bitcoin 0.01. I have 0.0003 bitcoin. Thanks for information.
Keep working at it, you'll soon have 0.01 Bitcoin. Just don't send it to those scammers!
Of course sir, Thanks.
Nice roundup, keep up the good work. I think these sort of articles for the beginners are vital so please keep it up!
Thanks! I'm glad you find them useful.
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