Download or read book Bitcoin the Mother of All Scams written by Bob Seeman and published by . This book was released on 2021-05-28 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Almost everything else one reads about bitcoin is either utopian fantasy, wishful thinking, nonsense, marketing, technobabble, or false propaganda. Bitcoin is not a medium of exchange. It can't be because its price is too volatile. The transaction costs are too large and transaction time too slow for regular, small transactions. Only a tiny fraction of bitcoin transactions are used for legitimate real-world purchases and there are more illegitimate purchases than legitimate. Bitcoin is not a store of value. A store of value does not regularly drop 20% in one day. Bitcoin does not qualify as an "investment" since no underlying asset exists. Accurately described, bitcoin is an accounting system for a non-existent asset. Readers will remember that, in 17th Century Holland, the price of tulips rose to extraordinary heights and then collapsed. It was called Tulipmania and is the accepted term for economic bubbles built on assets of inherently little value. At least, back then, there was a legitimate, if insignificant, asset - a tulip bulb. It is irrelevant that a limit has been set on the maximum number of bitcoin. Each coin is worth zero and the total value remains zero no matter the maximum number. Any true utility of bitcoin for the tiny fraction of one percent of transactions representing legitimate purchases that are made using this new form of purported digital currency is far outweighed by the massive risk to the punters who speculate in this risky game. Credulous people are taking the bait and gambling away their life savings. Every day that this bubble is allowed to grow, thousands more innocent bystanders are drawn into a game where only the House - those operating the bitcoin gambling casino - wins. Many people are winning in the bitcoin casino, especially the big traders and whales who can manipulate the market. However, no one is looking after the average punter. Gambling is regulated in the US and throughout much of the world. Why aren't the gambling regulators stepping in to investigate bitcoin gambling? A good number of people may be starting to consider bitcoin as part of their retirement investments. In May 2021, a popular investor information service for the retail investor wrote an article entitled, "Is Bitcoin Safer for Retirement than Social Security". Some investors may even borrow to increase their bitcoin holdings, or use their bitcoin as collateral for loans. Many people could then lose a great deal of money, question the whole system, and ask "Why didn't anybody protect me?" This book is to try to protect the average person. Bitcoin is nothing more and nothing less than gambling. About the author Mr. Bob Seeman is an entrepreneur and technology, legal and business advisor. He is co-founder of RIWI Corp., a data analytics company listed on the Toronto Venture Exchange (TSXV: RIWI), has advised government on technology and business issues, and has been a consultant to a bitcoin technology company. He is a California attorney, electrical engineer and entrepreneur, was a Head of Strategy for Microsoft in London and a technical consultant to the European Commission. Bob previously practiced administrative law with an international law firm. He holds a Bachelor of Applied Science (Elec. Eng.) with Honours from the University of Toronto, a Master of Business Administration from EDHEC, and a Juris Doctor (J.D.) from the University of British Columbia.

Download or read book Bitcoin and Crypto Scams written by Zach Abraham and published by Independently Published. This book was released on 2018-12-25 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learn about bitcoin and crypto scams and protect yourself !Drawing from real world bitcoin scams and real horror stories of people who have been scammed in the cypto space, here is an easy read which identifies some of the key lessons learnt from dodgy ICO scams and other types of cryptocurrency frauds so that you remain safe and learn how to protect your assets. Crypto and Bitcoin world is a new space being explored by many but it is unfortunately also being exploited by many scammers. Falling for scams hurts a lot since this space is mostly unregulated and legal recourse is difficult if not impossible ... The scammers and hackers are using this ignorance of new investors to rob people of their hard earned money. You deserve to know what kinds scams exist and how you can avoid them. Although this is not an exhaustive list but this short booklet includes how you can identify and avoid common frauds and scams Cryptocurrency and bitcoin seemed really scary and cryptic to me as well when I started researching bitcoin and altcoins for potential investment. I became more wary of the frauds that were going on in the digital currency space. As I gathered more information things became clearer. I wanted to share these insights in simple language in this short booklet. This quick read will better equip you to save your money in the bitcoin/altcoin area in three key ways: Some red flags in bitcoin and crypto scams Straight-forward and simple ways in which you can identify common scams such as fake initial coin offerings and ponzi pyramid schemes using bitcoins and cryptocurrencies. Impersonators and Hackers These are major ways in which you can lose your hard earned bitcoins or altcoins. Case Studies Case studies reveal exactly how some of these scams robbed people and how you can protect yourself from these dodgy schemes.

Download or read book The Book of Crypto written by Henri Arslanian and published by Springer Nature. This book was released on 2022-05-05 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a thorough overview of Bitcoin, cryptocurrencies, and digital assets and their impact on the future of money and finance. It provides a 360-degree practical, concise, and engaging overview of all the topics that one interested about digital assets needs to know including how Bitcoin and Ethereum work, an overview of the most important digital assets in the market, and deep dives into the various types of digital assets including cryptocurrencies, stable coins, CBDCs, utility tokens, security tokens, NFTs, and many others. The book also covers all the essentials including DeFi, crypto mining, crypto regulations, crypto investors, crypto exchanges, and other ecosystem players as well as some of the latest global crypto trends from Web 3.0 and the Metaverse to DAOs and quantum computing. Written by a leading industry expert and thought leader who advises some of the leading organisations in the digital assets space globally, this book is ideal for anyone looking to acquire a solid foundational knowledge base of this fast-growing field and understand its potential impact on the future of money.

Download or read book Bitcoin Widow written by Jennifer Robertson and published by HarperCollins. This book was released on 2022-01-18 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: She met the man of her dreams and suddenly had it all. Then, in one fateful night, she lost everything, and the nightmare began Jennifer Robertson was working hard to build a life for herself from the ashes of her first marriage. Still only twenty-six, she swiped right on a dating app and met Gerry Cotten, a man she would not normally have considered—too young and not her type—but found she’d met her match. Eccentric but funny and kind, Cotten turned out to be a bitcoin wizard who quickly amassed substantial wealth through his company, Quadriga. The couple travelled the world, first class all the way, while Cotten worked on his multitude of encrypted laptops. Then, while the couple was on their honeymoon in India, opening an orphanage in their name, Gerry fell ill and died in a matter of hours. Jennifer was consumed by grief and guilt, but that was only the beginning. It turned out that Gerry owed $250 million to Quadriga customers, and all the passwords to his encrypted virtual vaults, hidden on his many laptops, had died with him. Jennifer was left with more than one hundred thousand investors looking for their money, and questions, suspicions and accusations spiralling dangerously out of control. The Quadriga scandal touched off major investment and criminal investigations, not to mention Internet rumours circulating on dark message boards, including claims that Gerry had faked his own death and that his wife was the real mastermind behind a sophisticated sting operation. While Jennifer waited for a dead man’s switch e-mail that would probably never come, it became clear that Cotten had gambled away about $100 million of the funds entrusted to him for investment in his many schemes, leaving Robertson holding the bag. Bitcoin Widow is Catch Me If You Can meets a widow betrayed, a life of fairy-tale romance and private jets torched by duplicity, as Jennifer Robertson tries to reset her life in the wake of one of the biggest investment scandals of the digital age.

Download or read book The Missing Cryptoqueen written by Jamie Bartlett and published by Hachette UK. This book was released on 2022-06-28 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: 175 countries, four billion dollars, one scam: the thrilling rise and fall of the biggest cryptocurrency con in history and the woman behind it all In 2016, on stage at Wembley Arena in front of thousands of adoring fans, Dr. Ruja Ignatova promised her followers a financial revolution. The future, she said, belonged to cryptocurrencies such as Bitcoin. And the Oxford-educated, self-styled cryptoqueen vowed that she had invented the Bitcoin Killer. OneCoin would not only earn its investors untold fortunes; it would change the world. By March 2017, more than $4 billion had been invested in OneCoin in countries all around the world. But by October 2017, Ruja Ignatova had disappeared, and it slowly became clear that her revolutionary cryptocurrency was not all it seemed. Fortune was left asking, “Is OneCoin the biggest financial fraud in history?” In The Missing Cryptoqueen, acclaimed tech journalist Jamie Bartlett tells the story he began in his smash hit BBC podcast, entering the murky worlds of little-regulated cryptocurrencies and multilevel marketing schemes. Through a globe-crossing investigation into the criminal underworlds, corrupt governments, and the super-rich, he reveals a very modern tale of intrigue, techno-hype and herd madness that allowed OneCoin to become a million-person pyramid scheme—where, at the top, investors were making millions and, at the bottom, people were putting their livelihoods at risk. It’s the inside story of the smartest and biggest scam of the 21st Century—and the genius behind it, who is still on the run.

Download or read book The Future of Finance written by Henri Arslanian and published by Springer. This book was released on 2019-07-15 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, written jointly by an engineer and artificial intelligence expert along with a lawyer and banker, is a glimpse on what the future of the financial services will look like and the impact it will have on society. The first half of the book provides a detailed yet easy to understand educational and technical overview of FinTech, artificial intelligence and cryptocurrencies including the existing industry pain points and the new technological enablers. The second half provides a practical, concise and engaging overview of their latest trends and their impact on the future of the financial services industry including numerous use cases and practical examples. The book is a must read for any professional currently working in finance, any student studying the topic or anyone curious on how the future of finance will look like.

Download or read book The Little Black Book of Scams written by Industry Canada and published by Competition Bureau Canada. This book was released on 2014-03-10 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Canadian edition of The Little Black Book of Scams is a compact and easy to use reference guide filled with information Canadians can use to protect themselves against a variety of common scams. It debunks common myths about scams, provides contact information for reporting a scam to the correct authority, and offers a step-by-step guide for scam victims to reduce their losses and avoid becoming repeat victims. Consumers and businesses can consult The Little Black Book of Scams to avoid falling victim to social media and mobile phone scams, fake charities and lotteries, dating and romance scams, and many other schemes used to defraud Canadians of their money and personal information.

Download or read book Bitcoin written by Roger Svensson and published by Independently Published. This book was released on 2021-07-05 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: "There is little doubt that members of the cryptocurrency community have all the hallmarks of cult followers. For cult members wishing to be deprogrammed, as well as those seeking sound information and analysis, Bitcoin: Unlicensed Gambling is a most edifying and useful read." - Prof. Steve H. Hanke, founder and co-director of the Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise, and a senior fellow and the director of the Troubled Currencies Project at the Cato Institute. Promoters claim that bitcoin is a new type of money, reduces transactions costs by abandoning intermediaries and will become a safe asset that they call "digital gold". In this book, we dissect these claims and explain what bitcoin really is. Economic theory states that money should reduce transaction costs for payments, loans, and relative valuations, which requires a stable value. We show that the extreme price volatility and the high transaction costs - especially the time component - make bitcoin almost useless as money. Bitcoin increases, instead of reduces, transactions costs. Furthermore, an intermediary exists - the miner - who charges a transaction fee. The fundamental value of assets is based on their cash flow or utility, which applies for shares, bonds, real estate, and intellectual property. Gold is the best-known store of value and a hedge against financial crisis and inflation. Bitcoin has no cash flow or utility, and statistics show that it is no hedge against anything. It is, in fact, pro-cyclical and its crashes of 50 % in 2018 and 2021 are unmatched by any of the main fiat currencies in the last 50 years. Bitcoin has no intrinsic value and is not anything at all like digital gold. Bitcoin is an open Ponzi scheme. The Ponzi is "open" since it is public knowledge that there are no assets at all backing a bitcoin. To the promoters of bitcoin, the lack of assets is "a feature and not a bug." The main function of the bitcoin network is simply unlicensed gambling, where new players redeem those who entered earlier. It is a zero-sum game. Finally, the bitcoin system has no responsible issuer. So, if the system breaks down, holders have nobody from whom to claim - or to whom to assign blame. Although bitcoin is nothing other than a public and decentralized ledger of accounts and transactions, the bitcoin network and its promoters have been very successful in increasing the market value of a bitcoin from 10 to 30,000 USD in 10 years. Promoters of bitcoin use methods that include: 1) distracting investors from which functions bitcoin has or does not have; 2) directing attention to irrelevant technobabble; and 3) manipulating trade and prices in the bitcoin market. Marketing of a strong brand and visual illusions in the form of physical glittering coins make the impression that bitcoin is something valuable. But we show that it is not. The average investor is succumbing to these successful methods and risks their house, savings, and pension. We show that bitcoin is also used for criminal activities such as ransomware payments, tax evasion, and money laundering. The bitcoin network consumes vast amounts of electricity and critical advanced computer chips, which consumption creates negative externalities in the form of higher prices and shortages in other sectors. With no fundamental function, not even providing governments with tax revenue specifically due from the unlicensed gambling that bitcoin really is, bitcoin's actual value for society is negative. We propose that, before there is more damage to the public, government gambling regulators immediately enforce existing regulations and take action to investigate those who operate the bitcoin network.

Download or read book Bitcoin Blockchain and Cryptoassets written by Fabian Schar and published by MIT Press. This book was released on 2020-09-01 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introduction to cryptocurrencies and blockchain technology; a guide for practitioners and students. Bitcoin and blockchain enable the ownership of virtual property without the need for a central authority. Additionally, Bitcoin and other cryptocurrencies make up an entirely new class of assets that have the potential for fundamental change in the current financial system. This book offers an introduction to cryptocurrencies and blockchain technology from the perspective of monetary economics.

Download or read book Boom and Bust written by William Quinn and published by Cambridge University Press. This book was released on 2020-08-06 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? In order to answer these questions, William Quinn and John D. Turner take us on a riveting ride through the history of financial bubbles, visiting, among other places, Paris and London in 1720, Latin America in the 1820s, Melbourne in the 1880s, New York in the 1920s, Tokyo in the 1980s, Silicon Valley in the 1990s and Shanghai in the 2000s. As they do so, they help us understand why bubbles happen, and why some have catastrophic economic, social and political consequences whilst others have actually benefited society. They reveal that bubbles start when investors and speculators react to new technology or political initiatives, showing that our ability to predict future bubbles will ultimately come down to being able to predict these sparks.

Download or read book The Political Economy and Feasibility of Bitcoin and Cryptocurrencies written by Pack, Spencer J. and published by Edward Elgar Publishing. This book was released on 2022-05-13 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Entrepreneurship and Economic Development addresses the importance of business creation, which is endemic in subsistence indigenous cultures, widespread in developing economies, and a critical feature of adaptation in the most advanced economies. The author offers systematic comparisons of six stages of economic development which provide information about the adjustments in the economic and social context affecting participation in business creation, the sectors where activities occur, and the nature of the contributions to economic growth and adaptation.

Download or read book Crypto Millionaires written by Mateusz Mach and published by CRC Press. This book was released on 2024-07-19 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Blockchain, the key to the world of cryptocurrencies—a phrase that sounds like a promise of wealth. But what exactly is Blockchain? Unfortunately, in most books, articles, and discussions, it is either explained in a way that’s hard to understand or oversimplified with unnecessary emotional baggage, presented either technically or ideologically. Some see Blockchain as a savior from greedy bankers, while others view it as a tool for building cryptocurrencies that undermine central banks. Which image is closer to reality? The story of Blockchain is not just a tale of mathematical experiments. It’s primarily a story of the age-old attempt to record human activities and the value that flows from them. This time, however, the goal is to make it accessible to everyone on equal terms. This book delves into the evolution and technical intricacies of Blockchain technology, steering clear of the common focus on mere cryptocurrency speculation. It clarifies complex concepts and underscores Blockchain’s capacity to revolutionize industries and empower individuals globally, thereby demystifying the technology and making its profound potential accessible to everyone.

Download or read book Decentralization written by Craig Calcaterra and published by Walter de Gruyter GmbH & Co KG. This book was released on 2021-03-08 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Entrepreneurs as well as seasoned business leaders are struggling to innovate and stay ahead of change in the age of decentralization. What separates the companies that get disrupted from the ones that thrive when faced with decentralization? What tactics can be deployed to decentralize large monolithic organizations? Drawing on their experience as researchers and tech entrepreneurs, Professors Calcaterra and Kaal show how to Learn to embrace the change that comes with decentralization Evolve technology, communication, and culture as the business encounters decentralization Use best practices to maintain profitability in the emerging environments of decentralization across industries Combine responsibility with velocity to leverage the advantages of decentralization for the common good The book examines the core infrastructure elements that are needed before the first genuinely decentralized transaction can happen including a legal environment, underwriting, a truly decentralized blockchain that can overcome the blockchain trilemma (decentralization, scaling, security), and efficient governance of blockchains. Decentralization is essential reading for businesses seeking to win in an increasingly decentralized world where adaptation speed is the competitive advantage that matters most.

Download or read book Understanding Ponzi Schemes written by Mervyn K. Lewis and published by Edward Elgar Publishing. This book was released on 2015-11-27 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Ponzi scheme is one of the simplest, albeit effective, financial frauds to engineer, and new schemes keep coming forward. Despite this, however, people continue to invest in them. How are we to account for the seemingly never-ending lure of such schemes? In providing answers to this central question, this concise and well-researched book examines how Ponzi schemes operate, how they differ from pyramid schemes, Ponzi finance and other financial arrangements. The author questions whether the victims have only themselves to blame, why fraudsters think that they can avoid detection, and what important insights behavioural finance theory and psychology can add. Particular attention is paid to the reasons behind the failure of financial regulation, and the types of regulatory changes needed to protect investors and avoid repetitions. The analysis is informed by case studies of 11 Ponzi schemes in the US, UK, Australia and New Zealand. Finance and business academics interested in the operation of Ponzi schemes, and how they differ from pyramid schemes, will find this book invaluable, as will students of economics, finance, behavioural decision-making and psychology. Lawyers, psychologists, regulatory agencies and financial institutions will also benefit considerably from the analysis.

Download or read book The Politics of Bitcoin written by David Golumbia and published by U of Minnesota Press. This book was released on 2016-09-26 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since its introduction in 2009, Bitcoin has been widely promoted as a digital currency that will revolutionize everything from online commerce to the nation-state. Yet supporters of Bitcoin and its blockchain technology subscribe to a form of cyberlibertarianism that depends to a surprising extent on far-right political thought. The Politics of Bitcoin exposes how much of the economic and political thought on which this cryptocurrency is based emerges from ideas that travel the gamut, from Milton Friedman, F.A. Hayek, and Ludwig von Mises to Federal Reserve conspiracy theorists. Forerunners: Ideas First is a thought-in-process series of breakthrough digital publications. Written between fresh ideas and finished books, Forerunners draws on scholarly work initiated in notable blogs, social media, conference plenaries, journal articles, and the synergy of academic exchange. This is gray literature publishing: where intense thinking, change, and speculation take place in scholarship.

Download or read book Imagine there s no currency written by Alessandro Raffelini and published by Youcanprint. This book was released on 2019-03-19 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: Imagine there's no currency is a novel about the future of money. The Novel unfolds in the heart of an emerging economy, burdened by the dangers of hyperinflation and the looming prospect of other economic challenges. In a not-so-distant future, the global economy had been ravaged by hyperinflation, wars, and human folly. Only a handful of powerful states held sway over the rest, enjoying economic dominance and privileges. The majority of the world's population languished in poverty, while money had lost its value... It all began when an enigmatic scientist named Dr. Carter made an astonishing breakthrough... In this book, my aim is to provide a comprehensive explanation of the cryptosystem and blockchain technology. I delve deeply into the intricacies of Blockchain and cryptocurrencies, offering readers an in-depth understanding of these innovative concepts. Through this exploration, you will acquire a profound understanding of the current intricate landscape and the potential future developments in both the realms of money and technology. Moreover, I will share my visionary perspective on alternative monetary and economic model about the future of money. Years ago, I had the first insight that gave life to an innovative theory, imagining a possible "market" coexistence between cryptocurrencies and traditional fiat currencies, promoting the creation of potential alternative economic areas. This theory is based on the observation of the lack of a key variable in the Keynesian memory function of money, namely the technological innovation related to money produced precisely by Blockchain and cryptocurrencies. By adding this variable and more, I intuited that, consequently, monetary systems would move endogenously toward alternative equilibrium points between currency and cryptocurrencies with effective functionalities, such as Bitcoin, which I have always considered a possible new form of decentralized money and a potential supranational fractional reserve (optimal points of coexistence equilibrium). From here, I developed a new function of the demand for money and conducted various macroeconomic considerations for the creation of alternative digital systems in specific economic areas, which could coexist with traditional ones, but expanding economic opportunities for various reasons.

Download or read book Blockchain Hurricane written by Kate Baucherel and published by Business Expert Press. This book was released on 2020-03-03 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gives business decision makers and students a clear overview of the history, current applications, and future potential of distributed ledgers and cryptocurrency. The hype around blockchain technology is matched only by the innovation it inspires and the skepticism it provokes. This book gives business decision makers and students a clear overview of the history, current applications, and future potential of distributed ledgers and cryptocurrency. It explores strengths and weaknesses, emerging opportunities, and perceived threats. Technical frameworks are presented in a business context to help strategists understand the risks and rewards of different approaches to blockchain implementation, and the decision factors in determining whether this is a viable solution to the problem at hand.