Welcome to The Cryptocurrency Novice Report for Monday April 9, 2018.
Word to the Wise
A while back I ran across an advertisement for a website that automatically collects bitcoin from faucets called Tradebot.
Being a longtime fan of cryptocurrency faucets, and knowing that most have dried up a long time ago I didn't give Tradebot much thought. But recently I started seeing the advertisements again. So I went to their site to have a look. The site looked very simplistic, almost minimalistic. Still I wanted to learn more, so I clicked on the FAQ link and immediately noticed something strange.
They want you to send them 0.01 BTC to rent dedicated IP addresses? That's a lot Satoshi! Well now that my curiosity was peaked, I decided to register to find out more. The registration page was way too basic and let me create an account with a username and password of only one character each. So much for security!
Once my account was created I tried to start the auto collector only to be told that I needed to purchase IP addresses first.
So I clicked on the buy dedicated IP's link and found the scam. Send them 0.01 BTC and they claim they will collect 0.0005 BTC every 20 minutes, send them more and they will collect more BTC faster. In fact, they claim that for 0.03 BTC they can collect 0.0015 BTC every 5 minutes. That's over 0.4 BTC every day.
It's all a lie. I have been collecting from Bitcoin faucets for almost 4 years now and I can tell you, without any fear of contradiction, that these claims are completely false. Add to that the complete lack of security on the site and you have everything you need to verify Tradebot is a scam. Do not send them any Bitcoin, they will steal it all and leave you holding the bag.
Money For Nothing
Today's free money is a chance to earn a share of Open tokens from Open Platform.
To get your free Open tokens, just follow the link to register for the bounty program. You will need an ERC20 compatible Ethereum wallet address to receive the tokens.
If you don't already have an ERC20 Ethereum wallet, you can get one from MyEtherWallet.com for free.
Open Platform is developing a systems to aid in accepting cryptocurrency payments across a wide spectrum of applications and companies. You can learn more about Open Platform at their website https://www.openfuture.io/.
The Report
After a relatively stable weekend, the cryptocurrency market took a big plunge early this morning and continues to move slowly down. Here's how our favorite coins are holding up.
Bitcoin is currently trading at $6693, down 4.5% in the last 24 hours.
Steem is currently at $1.81, down 4.2% since yesterday afternoon. SBD has fallen back under $2 and is currently trading at $1.92, down 4.3% since this time yesterday.
The Steemit Market currently has Steem trading for 0.955 SBD. Steem continues to trade for less than 1 SBD, so you may want to grab some if you think Steem will gain against SBD in the future.
The supply of liquid Steem increased by approximately 150,000 Steem over the last two days. That may seem like a lot, but is still a relatively small percentage compared to the total amount of liquid Steem. Currently there are 76.77 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.
good post..and thanks for your support!
Thanks!
Thanks for highlighting Open Platform. That's a lot of actions to complete to maximize the bounty. I'll have to work on it.
More steps, more rewards.
More rewards... I like the sound of that. I like it a lot.
One character passwords, wow! You know that site is secure and legit. I wonder how they are "collecting" the BTC?
Back in the day, there were scripts or bots you could run that actually would visit a list of sites and collect from faucets. Then the faucets started protecting the faucets with Captcha. But most faucets are long dead and the few that remain could never add up to the BTC they claim they could collect even if they had thousands of IPs to use.
This tradebot scam is the worst attempt to steal money I've ever seen. But the open platform looks promising.
It's definitely one of the laziest scams sites I've ever seen. It looks like a school kid knocked it out late one night as last minute school project.
It's a crying shame how little effort they are willing to put into stealing my money. They should have more respect for me. I'm not that easily tricked into parting with my Bitcoin.
Thanks for sharing with us my dear friend
You're welcome. Thank you for your continued support.
free money from airdrops i just love it :D
Free money is the best kind!
Coins mentioned in post:
This post has received a 22.22% upvote from @msp-bidbot thanks to: @gregory-f. Delegate SP to this public bot and get paid daily: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP Don't delegate so much that you have less than 50SP left on your account.
Good post
Thank you!