Welcome to the Crowdify digest of interesting and important news and views about Bitcoin and Cryptocurrency.
Bitcoin Ponzi Warnings Appear in Canada after India Complaints
Canada has joined India in issuing warnings about Bitcoin-related Ponzi schemes targeting vulnerable consumers.
A report by police in Ontario released Friday states that “fraudsters send cheques to the victims and ask them to use the money to purchase Bitcoins” using local Bitcoin ATMs.
The report explains:
“The victims deposit the cheque (or sometimes e-transfer) into their accounts then use the funds to buy online currency and deposit the Bitcoins into someone else's account. For doing this, they are told they can keep a certain amount of the money that was originally sent to them. However, a short time after the victim uses their own money to purchase the Bitcoins, the original cheque or e-transfer bounces.”
Full story at http://bit.ly/2nCuAAO
Bitcoin Price Spooked by China, EU Regulatory Elephant In The Room
Legislative uncertainty in both China and Europe is weighing hard on the Bitcoin price, with around 10 percent lost in the past 24 hours.
News is expected imminently of how Chinese authorities will go about regulating Bitcoin and its trading in the country, which historically has exerted considerable influence on the price of a coin.
Following preliminary statements and feedback from People’s Bank of China Director Zhou Xuedong last week, markets are expecting a mixed bag of supervision and a “forgiving attitude” towards exchanges.
However, Xuedong states certain “red lines” should remain uncrossed in terms of what services exchanges can offer.
Full story at http://bit.ly/2nCxo11
Bitcoin Share of Crypto Market At Record Low After 17% Dip In 2017
Bitcoin has sunk to a record low in terms of its share of the cryptocurrencies market, sitting at just 70.5 percent as of March 17. It happens amid a booming altcoin scene.
The exponential rise in altcoin trading activity in the first three months of 2017 has seen Bitcoin’s share of the cryptocurrency market nosedive. At the start of the year, the figure stood at 87 percent.
While Bitcoin also enjoyed new levels of success, its price remaining about $1000 for several months, continued infighting and increasingly harsh rhetoric regarding the future of its network is feared by many to be leading to stagnation.
Transaction waiting times and fees have both risen dramatically, as solution trends come and go without gaining wide-reaching consensus.
Full story at http://bit.ly/2nCkjEC
Why Dash, Ethereum, Monero Will Continue To Strengthen Bitcoin Price
There is hardly a way the Bitcoin price won't maintain its current spot or continue on a rising trend with the prices of several major alternative digital currencies starting to reflect their respective networks’ gains as they establish in chosen areas of usefulness.
A quick look at how Dash, Ethereum, Monero and maybe Augur, have performed with their prices in the last few days show that despite the attention that has shifted to these altcoins, Bitcoin’s standing does not seem to be affected at all. Rather, it maintains a strong grasp of the market and continues with its back and forth movement over or around the $1200 price range.
The altcoins’ rising prices could not go unnoticed by serious-minded investors who may be exhibiting a practical foresight into what the future could hold for the financial sector - or how cryptocurrencies could help simplify the sector’s coordination in time.
Full story at http://bit.ly/2nCsYHq
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