Welcome to The Cryptocurrency Novice Report for Monday February 19, 2018.
Word to the Wise
Today's featured scam is another coin Ponzi scheme that is trying to camouflage itself as a university. I present for your viewing pleasure... fanfare please... Dagcoin also know as Daguniversity.
DagCoin was started by this scammer...
Nils Grossberg, who was heavily involved in OneCoin. Consequently Dagcoin and OneCoin are structured very similar. Incidentally, OneCoin was raided and shut down last month for operating a Ponzi Scheme.
Originally structured as just another Ponzi coin traded on a private exchange. Dagcoin made a lot of false claims about being based on new technology and promising to pay big affiliate commissions. But when BitConnect started to melted down at the end of last year, Dagcoin, like a lot of these Ponzi clones scrambled to rebrand themselves as something else. Dagcoin changed from selling coins to selling worthless "educational material" in Daguniversity. Oh, but you get "free" Dagcoins with every course you pay for at Daguniversity.
They have some delightful course offerings too. The first course is the Basic course.
Followed by the Starter course.
And others. There are 8 courses in all, and just like the Dagcoin's 8 levels of affiliate commissions, each one is progressively more expensive and offers you more "free" Dagcoins. But once you accumulate all these Dagcoins, what can you do with them? Well according to the website, you can sell them on an exchange.
Or at least you can when, or if, they ever have an exchange. But no exchange isn't a problem because you can spend them at one of the many merchants who accept Dagcoin.
Well maybe some day. Strange that even Daguniversity won't accept Dagcoin to pay for their courses. Maybe they know something about the value of Dagcoin that the rest of us don't?
So there you have it. Dagcoin, or university, or whatever it's called this week, is just another Ponzi scheme. Stay away from them. You'll be glad you did.
Money For Nothing
Today's free money is an airdrop for 20 tokens and a second airdrop for an additional 20 tokens for a new cloud mining operation called Whalesburg. That's 40 tokens total!
To get your 40 Whalesburg tokens, just follow the link to their site and fill out the brief registration form. You will need to provide them with an ERC20 compatible Ethereum wallet address to receive the tokens in.
If you don't already have an ERC20 Ethereum wallet, you can get one from MyEtherWallet.com for free.
After you register at the site, just follow this link to the airdrop's bitcointalk.org site and follow the simple directions to claim your share of Whalesburg tokens. Once the Whalesburg cloud mining service goes live you will be able to exchange the tokens for reduced mining fees.
The Report
The cryprocurrency recovery continues into the new week!
After briefly breaking through the $11,000 barrier Saturday, Bitcoin dropped back a little but has since come charging back this morning. Bitcoin is currently trading at $11,082, up about 3% since this time yesterday. Be on the lookout to see if it can stay above $11,000 as this could mean bigger numbers ahead.
Steem, like most cryptos, fell back a little over the weekend but is now recovering and is trading at $4.43, up just over 2% in the last 24 hours while SBD is trading at $5.44, also up a little over 2% since yesterday. Steem continues to trade at a discount in the Steemit Market, hovering around the 0.8-0.85 SBD range.
The supply of liquid Steem fell by about 180,000 Steem over the weekend. This is only a small fraction of a percent of the total liquid supply, but still shows that Steemers are taking the opportunity to move their SBD into discounted Steem and power up. I know I have. Maybe you should too.
Please note: I am not an investment professional. The information I present here is only my opinion. If you're in to cloud mining or think you might want to give it a try, you should grab up those free Whalesburg tokens. Lower fees means more mining profits in your pocket. Who doesn't want that?
Until next time...
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