At some point you get tired of listening to the same stories over and over again.

The Bitcoin secret patterns repeat themselves constantly:

There are horrendous profit promises through a unique Bitcoin secret investment. In reality, however, these Bitcoin secret profits are mainly generated by the members moving up. The MLM scammers have been using this pattern for centuries. Since Charles Ponzi in the early 20th century through the sale of so-called reply coupons, a kind of stamp substitute that bounced investors for their money, only the cover story has changed.

Whether the profits are generated by trading as with the Centauri, whether they are generated by mortgage business as with the former Questra snowball system or by clicking on advertisements as with the Ponzis Myadvertisingpays or Trafficmonsoon, which became popular at the end of 2016: After all, it’s always the same old wine in new tubes.

The crypto industry and its hype in 2017 came just at the right time for these fraudsters. Since digital currencies were still relatively unknown, but stories about the existence of Bitcoin millionaires spread, many criminals probably sensed a new scam. Mining, for example, is still being called a lucrative way to earn money in many places today – even though only large companies are actually making profits with it.

Conclusion: Do Your Own cryptosoft Research

Undoubtedly not all structural sales and affiliate models are bad. However, it is important to check how transparent the advertised cryptosoft product is and whether it is sustainable even without the growth by new investors. Red flags should therefore be used if the profit promises sound too unbelievable to be true, if the company does not really operate transparently or if the product would be uninteresting without dissemination through recommendation marketing.

So the next time someone, even if he is from his own circle of friends, promises horrendous profits through a one-time investment, skepticism is called for. Because if it sounds like a Ponzi, it is often also one.

The Chinese government plans to prevent Bitcoin and other crypto currencies from trading on stock exchanges in China and to close crypto exchanges. Media reports in agreement refer to insider information from sources that do not wish to be named.

This decision represents a further setback for the previously booming crypto industry, which has been able to gain a foothold in the Asian region and especially in the People’s Republic of China this year. The step takes place one week after Chinese officials have issued a general ban on ICOs in their country. The news caused great uncertainty among investors worldwide at the start of the week and triggered a collective fall in prices on the crypto exchanges.

The same cryptosoft are now to be completely closed in China

This is the result of a draft by the Chinese central bank, which contains a series of instructions designed to prevent Chinese stock exchanges from trading cryptosoft currencies. According to this, direct P2P transactions are to remain unaffected by a new ban. The Chinese central bank did not comment on this today. Read more about it: Cryptosoft Review 2018 ยป Full Scam Check

The effect of the crypto stock market ban will continue to be felt by Chinese investors and miners. It can therefore be assumed that the general trading volume in crypto will fall. Bitcoin and other crypto currencies will continue to circulate in China without exchanges for the time being, but the exchange will probably become slower and much riskier. Chinese regulators are unlikely to penalise P2P transactions, as the government is unable to monitor the entire circulation of digital money.

Crypto trader transactions still allowed

The ban on crypto trader currencies on Chinese stock exchanges can be seen as a logical consequence of the overall development of the Chinese government’s dealings with the domestic crypto market. Like last week’s suspension of ICOs, the ban is a reaction to the government’s increasing loss of control over its people’s financial activities. In the first half of this year in particular, the market capitalisation of Bitcoin and other crypto currencies in China had risen so rapidly that, after months of weighing up its options, the state regulatory authority felt compelled to now follow suit with a rapid backlash. More info: Is Crypto Trader a Scam? Read This Review Before You Sign Up!

In contrast to last week, the price swing in the crypto markets was also not so extreme; currently (as of Monday 12 noon) prices have recovered and are now rising again. The three largest Chinese stock exchanges OKCoin, BTCC and Huobi testified on Monday morning that they had not yet received any instructions from the regulatory authority and opened their operations on a regular basis.

ICO ban only temporary
Meanwhile, Hi Bing, a researcher at the government-sponsored Institute of Finance and Banking, spoke in an interview about the government’s ICO ban. He reiterated that the ban on ICOs in China is only a temporary solution by the government. In reality, it is not a ban, but merely a pause in the issuance of new crypto currencies. This means that the option of an early resumption of ICOs in the future is on the table.

Rather, the government is currently working on a solution to regulate and control the ICO market in order to make legal ICOs possible. China is aware of the potential of ICOs and crypto currencies and is currently examining the possibility of exploiting it.

Bing’s statements underline the assumption that the great shock about the ban last week probably occurred prematurely and that the action can be classified as a short circuit reaction of the Chinese government. Such a large economic nation will not be able to afford in the long run to simply push aside such a promising and promising industry, especially as the international competitive pressure will certainly not diminish.

There is a lot going on in the area of blockchain and business. The Blockchain Coalition was founded in the USA, Nasdaq wants to make the technology marketable, while our SAP Blockchain Initiative has grown to 27 members.

The acceptance of Bitcoin loophole is growing in all areas

The Bitcoin loophole Coalition interest group has formed in Wyoming. The members want to create a broader awareness of the advantages of the Bitcoin loophole. Its founding members include Jim Geringer, former Governor Wyomings, Mayor Marion Orr and CEO Patrick Byrne.

The Wyoming Blockchain Coalition was announced on Tuesday with the goal of expanding the benefits of the technology in the state. The group aims to simplify regulation and develop a more business-friendly environment for blockchain companies.

In particular, the interest group is planning applications for the Blockchain in the registration for GmbHs. This is intended to attract companies. First and foremost, those who deal with the Internet of Things.

Another area is the optimisation of the production and distribution of agricultural products and coal. The technology will also be used in the administration of medical records. Bureaucracy will also be optimised. By using the blockchain, government documents are to be organised and verified more effectively.

“The mission of the Wyoming Blockchain Coalition is to educate the citizens of Wyoming about the power of technology, minimize costs, streamline administrative processes, and create completely new businesses, says David Pope, Managing Director of the Blockchain Coalition

“We also see ourselves as lawyers for a legally compliant environment that attracts blockchain companies to do business in Wyoming. Whether it’s using the technology in the state or paving the way for service providers.”

Business, Business, Business: From Wyoming to the news spy

Corporate and tax consultant David Pope should not be inconvenienced by Nasdaq’s current plans. With the catchy title “Reality Shares Nasdaq Blockchain Economy Index” the news spy exchange from New York wants to create a blockchain index with the company Reality Shares. This should make it more accessible for private individuals to invest in blockchain solutions and the news spy. The planned index will then list companies that deal with the technology and earn money with it. In its official announcement, the stock exchange has announced that it has already registered its intention with the US Securities and Exchange Commission.

The CEO of Reality Shares, Eric Ervin, also believes in the index’s success. They have teamed up with Nasdaq to identify the companies that are using their resources to develop blockchain applications.

“Reality Shares has recognized the enormous growth potential of blockchain technology and has joined forces with Nasdaq. We want to identify the companies that we believe will become global leaders in new technologies and blockchain applications”.

From New York back to Walldorf
Similarly, bridges are being built in this country. While the SAP Chairman is officially calling for more digitization, his company says its blockchain initiative has swollen to 27 customers and partners with an estimated market volume of $819 billion.

The aim of this initiative is to integrate the digital transaction register into solutions for the Internet of Things, manufacturing and the digital supply chain using the SAP Cloud Platform Blockchain Service. This announcement was made at the SAP TechEd technology conference held in Barcelona from November 14-16.

SAP will also join the Alastria Consortium to expand the deployment of Blockchain to customers in different industries and countries. In addition, they cooperate with telecommunications providers and energy companies, as well as universities and smart city organizations. Finally, they become members of the Blockchain in Trucking Alliance, a forum for Blockchain standards in the truck industry. Transportation is also provided.

According to a recent report by the international online magazine Computerworld sind in the recent past, prices for special graphics processors (GPUs) for cryptomining have fallen to the same extent as on the digital market. At the end of 2017 and the beginning of 2018, the costs for cryptomining increased significantly. Since the markets have plunged into a downward phase, the trend seems to have reversed.

As reported by BTC-ECHO, in the first quarter of 2018 Nvidia Corp. reported significantly higher than expected revenues in the cryptographic market. The amount of money the chip manufacturer had received for mining chips was probably 289 million US dollars. For the second quarter, however, the company had already assumed lower revenues at that time.

In particular, the news spy prices of AIBs (all-in-board graphics cards) have fallen

According to the latest report, the news spy prices for AIBs (All-In-Board Graphics Cards) have fallen, while deliveries have risen in the wake of the weakening crypto currency exchange rates. Experts like Jon Peddie Research’s Robert Dow told Computerworld that they had predicted the price slide. They add about the news spy:

“The costs of operating the mining rigs are not insignificant. And when currency prices come under pressure […], people will run the rigs and look for cheap AIBs on the secondary market hoping to save costs.”

According to a survey by Jon Peddie Research, cryptomines bought over three million AIBs worth $776 million in 2017. Most of them came from AMD, the manufacturer of semiconductors and microprocessors. At the turn of the year 2017/18, many high-end cards were sold out due to the immense price increases.

According to Computerworld, AMD’s OEM 4GB RX 580 six-packs were sold out in April of this year at a price of $3,600, compared to $2,500 today. The Nvidia GeForce GTX 1080 Founders Edition, 8GB GDDR5X PCI Express 3.0 graphics card was also sold out at prices of 1,050 US dollars, now the article is available again for 709 US dollars. Robert Dow comments the change so:

“We also believe that AMD and Nvidia had built up large inventories. This will have increased the effect. Before the price increase from AIB purchases for mining, the cost of AIBs was almost constant to slightly declining. The trend could continue until a new generation of graphics cards comes onto the market.”

New Mining Hardware for the Bitcoin secret Announced

The current price slide had not prevented producers from developing new types of mining hardware as in this review. Only in May of this year, the US company ASUS announced the release of the second generation of its Bitcoin secret cryptomining motherboard, which is scheduled to be available in stores at the beginning of the third quarter of 2018.

The Chinese technology giant Bitmain had announced the market launch of the Ethash ASIC Miner in April, which is being promoted as the “world’s strongest and most efficient Ethash ASIC Miner”. Bitmain outperformed US manufacturer Nvidia in total sales in 2017. The reported turnover was three to four billion US dollars. Bitmain controls 70 to 80 percent of the market share in BTC mining and ASICs.

The Bank of England wants to focus more on money laundering with crypto currencies in the future. This was announced by the Governor of the Central Bank of the United Kingdom this Friday at the Scottish Economics Conference. He stressed that in future the same conditions should apply to crypto currencies as to other financial instruments. In the past, the British government had recently expressed increasing concern about the potential use of crypto currencies in organised crime, terrorist financing and money laundering.

“A Brave New World” – this was the motto of the premiere of the Scottish Economics Conference this Friday. For Mark Carney, the Governor of the Central Bank of the United Kingdom, who was invited as the main speaker, crypto currencies were not part of this conference. In his speech on the future of money, he painted a somewhat enthusiastic picture of crypto currencies as digital payment alternatives of the future, instead emphasizing their dangers and shortcomings.

And this Bitcoin revolution would be mainly due to the dangers of their criminal potential

The 52-year-old Canadian warned the Scottish national economist Adam Smith quoting that although the students’ enthusiasm for Bitcoin revolution & Co. was great, they still did not live up to the demands of monetary theory.

“How well do crypto currencies fulfil the role of money? The short answer is that they fail.”

On the one hand, this is due to the lack of stability of value. On the other hand, the inefficient exchange and the low possibility of conventional payment hamper the benefit.

Although the technology currently has great learning effects for governments, it still needs legal answers.

“At present, cryptographic facilities contain a variety of problems within consumer and investor protection, market integrity, money laundering, terrorist financing, tax evasion and by evading these capital controls and international sanctions, he said, reflecting the concerns of the UK government. Recently, Prime Minister Theresa May had warned at the World Economic Forum in Davos against the criminal use of crypto currencies and emphasised that they would deal “very seriously” with them.

As worried as this may sound, the Bank of England would nevertheless refrain from a ban. Rather the time had come to occupy crypto currencies with the same conditions and standards as other financial instruments. Without these, a threat to financial stability would be quite conceivable, Carney said.

“In the future, risks to financial stability could increase if seller participation or integration into the conventional financial sector were to increase without this leading to improvements.

Bitcoin loophole – Blessing one curse and blessing another

The forthcoming Bitcoin loophole review in Buenos Aires should now provide answers, joint coordination and talks on possible regulation, Carney stressed. The Bank of England is not alone these days in its concern for anonymity within the Bitcoin loophole crypto-circle of currencies.

Last month, Federal Finance Minister Peter Altmaier and his French counterpart Bruno LeMaire had already urged in a joint letter to put crypto currencies on the agenda of the upcoming summit in Argentina. There it was important to develop international solutions to deal with the newly emerging crypto trade in the future. IMF chief Christine Lagarde, on the other hand, had last month called globally coordinated regulation “inevitable”. She, too, pointed out that regulations must focus more on the user than on the currencies themselves. In the past, Lagarde had often warned against the criminal potential of crypto currencies.

In the recently published annual report 2017, the European police authority Europol also complains about the increased use of crypto currencies. These would make cross-border work in the fight against organised crime with drugs, passport documents or weapons much more difficult.

In the past week, a lot has happened around the globe in terms of regulation. In the series “Regulation in the Week in Review” we look back at the end of the week and summarize what was said, thought or decided, when, where and by whom.

Is that consumer protection?

Consumer center considers advertising prohibition for crypto currencies. The consumer center Federal association demands an advertising as well as a sales prohibition for crypto currencies. It is questionable, however, whether these prohibitions really fulfil their purpose. Rather we see need in clearing-up, ordered processes and a meaningful regulation of ICOs.

Chinese central bank: no signs of easing
In its recently published agenda for 2018, the Chinese central bank has made little positive comments about crypto currencies. China not only fears the potential for criminal use, but also believes that crypto currencies could jeopardize financial market stability.

Ultimatum in Japan: Five crypto exchanges close
After the Financial Services Agency (FSA) of Japan has called for improved data security, five crypto exchanges have to cease operations. Several other crypto exchanges are now facing the end of their operations because they cannot meet the admission requirements for a license from the FSA.

Regulation Special: What are crypto currencies?

In March, BaFin published a letter of advice on the legal classification of crypto currencies. Accordingly the following possibilities come into consideration: Classification as financial instrument, security, investment fund or as asset investment. The core element, however, is the recurring “individual case examination” to which BaFin refers. Two things can be derived from this: Crypto currencies cannot be regulated on a blanket basis, nor can the fact that coins must be valued individually by BaFin. This results in greater security for all parties involved.

Japan cannot leave it at that: Legal action against Binance
According to media reports, Binance has so far not been willing to apply for a license from the FSA. Now the FSA wants to use a lawsuit to put pressure on the online marketplace. Binance is responding with a move to crypto-island Malta in order to avoid this and other legal disputes.

Bank of Montreal blocks crypto currencies
An internal BoM memo showed that from now on BoM would no longer allow crypto transactions for its customers. This is particularly contradictory to the bank’s recent blockchain activities. Otherwise, Canada is proving to be a crypto-friendly country.

Malta allows crypto currencies for games of chance
The Malta Gaming Authority (MGA) has recently published a report on the regulation of crypto currencies. The authority wants to test crypto currencies and their optimal handling in a preliminary test environment. Gambling licenses from Malta will then be supplemented accordingly.

Russia publishes ICO guidelines
The Russian Ministry of Communications published first drafts of ICO guidelines. These are part of a larger package of laws regulating crypto currencies. The fact that ICOs in Russia can only be carried out with the help of the national currency “ruble” is a cause for concern.

AUSTRAC against money laundering – no black money for Australia
Australia also meets crypto exchanges with regulation. From now on, they have to register and, among other things, reconcile the identities of their customers in order to avoid money laundering.

Indian central bank breaks with crypto service providers
The Indian central bank “Reserve Bank of India” will no longer offer support for persons or companies dealing with crypto currencies. At the same time, however, it is planning its own digital currency.