Cryptocurrency Transactions

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Twitter’s murky verification process is helping cryptocurrency scams thrive

sudshr47 February 26, 2018

Twitter verification, or the blue checkmark that appears next to an official account’s name, is seen by most people as a badge of credibility. It’s meant to distinguish real accounts from the fake ones.

But for scammers, the same blue checkmark can be exploited to take money from unwitting users, as BuzzFeed reported last week.

The BuzzFeed story describes how an account called @Tronfoundation, a company offering the cryptocurrency token $TRX, was impersonated by about a dozen accounts. But the one fake account that really stuck out from the pack was @Tronfoundationl because it somehow acquired a blue verified checkmark — even though the account was fake. Read more…

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What the heck is Ripple? A brief look at the hottest cryptocurrency of the moment.

sudshr47 December 29, 2017

Move over ethereum and litecoin — ripple is suddenly the hot new cryptocurrency.

But ripple is different. It can’t be mined. It can’t be used to go shopping. And it’s operated by a private company.

Ripple is still far smaller than bitcoin, the reigning king of cryptocurrencies, but it’s had a remarkable 2017. Ripple has increased by 29,000 percent in the past 12 months, pushing its value to more than $70 billion. In comparison, bitcoin — which has had a notably successful, if volatile, year — has risen by over 1,400 percent to a value of $245 billion.

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Largest U.S. Bitcoin exchange halts trading as cryptocurrencies plummet

sudshr47 December 22, 2017

Coinbase — the largest Bitcoin market in the U.S. — has disabled all buying and selling as the digital currency Bitcoin dramatically loses value.

At 11:11 a.m. EST, Coinbase posted that it had temporarally disabled trading:

About 25 minutes later, at 11:35 a.m. EST, the company said it’s still monitoring the problem:

This “high traffic” is largely in reference to activity in the Bitcoin market. Bitcoin is the world’s highest-valued currency, as one Bitcoin hit nearly $20,000 this December.

But it’s lost about a quarter of its value in the last 24 hours and the fickle currency is now trading at around $12,874 — and some exchanges around $11,000. Read more…

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