What's up, everybody? I hope you all are having a great day.
This is a crazy news day first, this should be surprising but probably isn't that all if you know the company and what they've done.
Bitconnect is actively working towards keeping their ICO alive, even after the token crumbled in price after the demise of the platform. For some reason, people are still actively trading the coin and this seems to be because the company Bitconnect is looking to open up it's new platform BitconnectX.
What's even crazy is that since the ICO has been active, I believe for a bit over a week now people are acutally throwing their money at the platform the same as they were before, basically believing that they won't be burned twice by the same stove.
At the moment we know that a new platform BitconnectX will have a new token know as BCCX and people are actually purchasing BCC in order to purchase new tokens through the ICO. The most interesting thing about all of this for me at least is that at one point the BCC coin was sitting around $350 or so a coin crash to around $8 meaning users on the platform, those who are holding the BCC, the people who supported them on the website lost an extremely large amount of money and now they are up for round two to take their chances once again.
The Bitconnect ICO is, they say that they're looking to raise around 600 million dollars from the crowd sale and at the moment sadly enough it looks like they might actually reach that goal as people are still buying into what they are selling.
Next up, a large number of IOTA users have reported their funds being stolen over the last few days which has as of now amounted to several million dollars. So happened because when a new IOTA wallet is created, people are required to create their own seeds for the wallet as opposed to one being generated automatically for you like they do with other coins and because of this people have started using automatic seed generators.
There are now a number of websites that are dedicated to generating seeds for you and these websites claim to be randomised turns out these seeds that are being provided for people were pre-made by the website, so when it is finally used within the wallet it was the website who now controls the funds and not the users themselves.
What's worse is a DDOS attack took place on a number of IOTA nodes which has now left those who have been robbed unable to retrieve their funds. Large number of members of the IOTA community have stated online:
Please do not use these generators, or if you do, at least change some of the elements to prevent things like this from happening again.
LAST UP for those who are unfamiliar with Weiss ratings, they are a rating company based in the US that gives ratings to companies listed on the stock market but not limited to banks, credit unions, insurance companies, ETFs and mutual funds etc. You may have seen something like this before, they give ratings such as an A rating or tripple A rating or B rating and so on and so forth. This step is significant because this is yet another step in the validation of cryptocurrencies in the real world.
Weiss ratings have announced that they will be releasing their grades on the 24th of January, 2018, and will be giving grades to Bitcoins as well as Ethereum, Ripple, BitcoinCash, Cardano, Nem, Litecoin, Stellar, Eos, IOTA, Dash, Neo, Tron, Manero, BicoinGold and a few others.
The ratings as of now will be based on the coins technology. It's real world usage as well as its trading patterns. This is going to get interesting, especially once the grades come out because some coins will be graded love than other people expect them to be graded, and this will cause a pyschological shift in our markets whether you believe so or not, this is definitely going to ramp things up for coins that are then legit because they have an A rating, or a tripple A rating.
Alright guys thats it, don't forget to leave your comments.
Thanks