You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments. It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
Accountable - The public ledger is transparent, all transactions are seen by everyone.
Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works. You can even run a node on a Raspberry Pi.
Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
Low fee scaling - On chain transaction fees depend on network demand and how much priority you wish to assign to the transaction. Most wallets calculate on chain fees automatically but you can view current fees here and mempool activity here. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet.
Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply memorizing a string of words for wallet recovery (while cool this method is generally not recommended due to potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for new users due to ease of use and additional security).
Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage. Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".
Securing your bitcoins
With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger or ColdCard is recommended. Alternatively there are many software wallet options to choose from here depending on your use case.
If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".
Where can I spend bitcoins?
Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.
Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.
The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
one bitcoin is equal to 100 million satoshis
1,000 per bitcoin
used as default unit in recent Electrum wallet releases
1,000,000 per bitcoin
colloquial "slang" term for microbitcoin (μBTC)
100,000,000 per bitcoin
smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki. Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval. Welcome to the Bitcoin community and the new decentralized economy!
Ok, so I apologize in advance for grammar errors/format errors because I'm typing this out quickly. So recently I got a job offer from a company off of indeed and the job pays well and seemed easy enough so I accepted the offer. However, they sent me a follow of email, and here is what a part of the email said: " As a company, we strive to offer the most seamless and convenient payment methods for the services we provide. In essence, we use Bitcoin for most payments as it is more secure for all parties and the services we provide including domain names, hostings, servers, and databases. Bitcoin is a free-floating and market responsive currency. The fact that it is not controlled by banks means that entities have more control and lower fees are charged.You have the responsibility of working with clients to provide the necessary solutions to their needs. Our 7-day orientation period will equip you with skills and knowledge on how to handle the clients including SMEs. Once contacted by customers, you are supposed to take the orders, key them into the database, execute and transfer the order to the sales department. To serve customers, you will need have sufficient Bitcoin balance in your account.PerfecTech Internationalwill offer you with money through e-Transfer Interac system. You will also receive your salary every Friday at 6pm to this bank account. To do this, you will need to provide your account details including: Holder name, Your bank name, Your email address associated with the account, your phone number, Have you ever used electronic (interac) transfer?, do you have active online banking? No cost is incurred to receive Bitcoins and you may control the amount of fee incurred when spending. A large proportion of wallets incorporate reasonable default fees. Higher fees could foster speedy transaction confirmation.It is recommended that you seek ways of customizing the approach to every customer to safeguard satisfaction. Ensure that you market any innovative new products to customers on a regular basis to enhance satisfaction in increase referral and/or return. Once you have provided the details, I am going to send you your personal Bitcoin wallet." This just seems a bit shady in my opinion, and I wanted to get other peoples' opinions on it so confirm legitimacy. Thanks in advance to anyone who helps out.
d down, k up, everybody's a game theorist, titcoin, build wiki on Cardano, (e-)voting, competitive marketing analysis, Goguen product update, Alexa likes Charles, David hates all, Adam in and bros in arms with the scientific counterparts of the major cryptocurrency groups, the latest AMA for all!
Decreasing d parameter Just signed the latest change management document, I was the last in the chain so I signed it today for changing the d parameter from 0.52 to 0.5. That means we are just about to cross the threshold here in a little bit for d to fall below 0.5 which means more than half of all the blocks will be made by the community and not the OBFT nodes. That's a major milestone and at this current rate of velocity it looks like d will decrement to zero around March so lots to do, lots to talk about. Product update, two days from now, we'll go ahead and talk about that but it crossed my desk today and I was really happy and excited about that and it seemed like yesterday that d was equal to one and people were complaining that we delayed it by an epoch and now we're almost at 50 percent. For those of you who want parameter-level changes, k-level changes, they are coming and there's an enormous internal conversation about it and we've written up a powerpoint presentation and a philosophy document about why things were designed the way that they're designed. Increasing k parameter and upcoming security video and everybody's a game theorist My chief scientist has put an enormous amount of time into this. Aggelos is very passionate about this particular topic and what I'm going to do is similar to the security video that I did where I did an hour and a half discussion about a best practice for security. I'm going to actually do a screencasted video where I talk about this philosophy document and I'm going to read the entire document with annotations with you guys and kind of talk through it. It might end up being quite a long video. It could be several hours long but I think it's really important to talk around the design philosophy of this. It's kind of funny, everybody, when they see a cryptographic paper or math paper, they tend to just say okay you guys figure that out. No one's an expert in cryptography or math and you don't really get strong opinions about it but game theory despite the fact that the topics as complex and in some cases more complex you tend to get a lot of opinions and everybody's a game theorist. So, there was enormous amount of thought that went into the design of the system, the parameters of system, everything from the reward functions to other things and it's very important that we explain that thought process in as detailed of a way as possible. At least the philosophy behind it then I feel that the community is in a really good position to start working on the change management. It is my position that I'd love to see k largely increased. I do think that the software needs some improvements to get there especially partial delegation delegation portfolios and some enhancements into the operation of staking especially. E-voting I'd love to see the existence of hybrid wallets where you have a cold part a hot part and we've had a lot of conversations about that and we will present some of the progress in that matter at the product updates. If not this October certainly in November. A lot of commercialization going along, a lot of things going on and flowing around and you know, commercial teams working hard. As I mentioned we have a lot of deals in the pipeline. The Wyoming event was half political, half sales. We were really looking into e-voting and we had very productive conversations along those lines. It is my goal that Cardano e-voting software is used in political primaries and my hope is for eventually to be used in municipal and state and eventually federal elections and then in national elections for countries like Ethiopia, Mongolia and other places. Now there is a long road, long, long road to get there and many little victories that have to begin but this event. Wyoming was kind of the opener into that conversation there were seven independent parties at the independent national convention and we had a chance to talk to the leadership of many of them. We will also engage in conversation with the libertarian party leadership as well and at the very least we could talk about e-voting and also blockchain-based voting for primaries that would be great start and we'll also look into the state of Wyoming for that as well. We'll you know, tell you guys about that in time. We've already gotten a lot of inquiries about e-voting software. We tend to get them along with the (Atala) Prism inquiries. It's actually quite easy to start conversations but there are a lot of security properties that are very important like end-to-end verifiability hybrid ballots where you have both a digital and a paper ballot delegation mechanics as well as privacy mechanics that are interesting on a case-by-case basis. Goguen, voting, future fund3, competitive marketing analysis of Ouroboros vs. EOS, Tezos, Algorand, ETH2 and Polkadot, new creative director We'll keep chipping away at that, a lot of Goguen stuff to talk about but I'm going to reserve all of that for two days from now for the product update. We're right in the middle, Goguen metadata was the very first part of it. We already have some commercialization platform as a result of metadata, more to come and then obviously lots of smart contract stuff to come. This update and the November update are going to be very Goguen focused and also a lot of alternatives as well. We're still on schedule for an HFC event in I think November or December. I can't remember but that's going to be carrying a lot of things related multisig token locking. There's some ledger rule changes so it has to be an HFC event and that opens up a lot of the windows for Goguen foundations as well as voting on chain so fund3 will benefit very heavily from that. We're right in the guts of Daedalus right now building the voting center, the identity center, QR-code work. All this stuff, it's a lot of stuff, you know, the cell phone app was released last week. Kind of an early beta, it'll go through a lot of rapid iterations every few weeks. We'll update it, google play is a great foundation to launch things on because it's so easy to push updates to people automatically so you can rapidly iterate and be very agile in that framework and you know we've already had 3500 people involved heavily in the innovation management platform ideascale and we've got numerous bids from everything. From John Buck and the sociocracy movement to others. A lot of people want to help us improve that and we're going to see steady and systematic growth there. We're still chipping away at product marketing. Liza (Horowitz) is doing a good job, meet with her two three-times a week and right now it's Ouroboros, Ouroboros, Ouroboros... We're doing competitive analysis of Ouroboros versus EOS, Tezos, Algorand, ETH2 and Polkadot. We think that's a good set. We think we have a really good way of explaining it. David (David Likes Crypto now at IOHK) has already made some great content. We're going to release that soon alongside some other content and we'll keep chipping away at that. We also just hired a creative director for IO Global. His name's Adam, incredibly experienced creative director, he's worked for Mercedes-Benz and dozens of other companies. He does very good work and he's been doing this for well over 20 years and so the very first set of things he's going to do is work with commercial and marketing on product marketing. In addition to building great content where hope is make that content as pretty as possible and we have Rod heavily involved in that as well to talk about distribution channels and see if we can amplify the distribution message and really get a lot of stuff done. Last thing to mention, oh yeah, iOS for catalyst. We're working on that, we submitted it to the apple store, the iOS store, but it takes a little longer to get approval for that than it does with google play but that's been submitted and it's whenever apple approves it or not. Takes a little longer for cryptocurrency stuff. Wiki shizzle and battle for crypto, make crypto articles on wiki great again, Alexa knows Charles, Everpedia meets Charles podcast, holy-grail land of Cardano, wiki on Cardano, titcoin Wikipedia... kind of rattled the cage a little bit. Through an intermediary we got contact with Jimmy Wales. Larry Sanger, the other co-founder also reached out to me and the everpedia guys reached out to me. Here's where we stand, we have an article, it has solidified, it's currently labeled as unreliable and you should not believe the things that are said in it which is David Gerard's work if you look at the edits. We will work with the community and try to get that article to a fair and balanced representation of Cardano and especially after the product marketing comes through. We clearly explain the product I think the Cardano article can be massively strengthened. I've told Rod to work with some specialized people to try to get that done but we are going to work very hard at a systematic approval campaign for all of the scientific articles related to blockchain technology in the cryptocurrency space. They're just terrible, if you go to the proof of work article, the proof of stake or all these things, they're just terrible. They're not well written, they're out of date and they don't reflect an adequate sampling of the science. I did talk to my chief scientist Aggelos and what we're gonna do is reach out to the scientific counterparts that most of the major cryptocurrency groups that are doing research and see if they want to work with us at an industry-wide effort to systematically improve the scientific articles in our industry so that there are a fair and balanced representation of what the current state of the art are, the criticisms, the trade-offs as well as the reference space and of course obviously we'll do quite well in that respect because we've done the science. We're the inheritor of it but it's a shame because when people search proof of stake on google usually wikipedia results are highly biased. We care about wikipedia because google cares about wikipedia, amazon cares about wikipedia. If you ask Alexa who is Charles Hoskinson, the reason why Alexa knows is because it's reading directly from the wikipedia page. If I didn't have a wikipedia page Alexa would know that so if somebody says Alexa what is Cardano it's going to read directly from the wikipedia page and you know and we can either just pretend that reality doesn't exist or we can accept it and we as a community working with partners in the broader cryptocurrency community can universally improve the quality of cryptocurrency pages. There's been a pattern of commercial censorship on wikipedia for cryptocurrencies in general since bitcoin itself. In fact I think the bitcoin article is actually taken down once back in, might have been, 2010 or 2009 but basically wikipedia has not been a friend of cryptocurrencies. That's why everpedia exists and actually their founders reached out to me and I talked to them over twitter through PMs and we agreed to actually do a podcast. I'm going to do a streamyard, stream with these guys and they'll come on talk all about everpedia and what they do and how they are and we'll kind of go through the challenges that they've encountered. How their platform works and so forth and obviously if they want to ever leave that terrible ecosystem EOS and come to the holy-grail land of Cardano we'd be there to help them out. At least they can tell the world how amazing their product is and also the challenges they're having to overcome. We've also been in great contact with Larry Sanger. He's going to do an internal seminar at some point with with us and talk about some protocols he's been developing since he left wikipedia specifically to decentralize knowledge management and have a truly decentralized encyclopedia. I'm really looking forward to that and I hope that presentation gives us some inspiration as an ecosystem of things we can do. That's a great piece of infrastructure regardless and after we learn a lot more about it and we talk to a lot of people in ecosystem. If we can't get people to move on over, it would be really good to see through ideascale in the innovation management platform for people to utilize the dc fund to build their own variant of wikipedia on Cardano. In the coming months there will certainly be funding available. If you guys are so passionate about this particular problem that you want to go solve it then I'd be happy to play Elon Musk with the hyperloop and write a white paper on a protocol design and really give a good first start and then you guys can go and try to commercialize that technology as Cardano native assets and Plutus smart contracts in addition to other pieces of technology that have to be brought in to make it practical. Right now we're just, let's talk to everybody phase, and we'll talk to the everpedia guys, we're going to talk to Larry and we're going to see whoever else is in this game and of course we have to accept the incumbency as it is. So, we're working with obviously the wikipedia side to improve the quality of not only our article but all of the articles and the scientific side of things so that there's a fair and accurate representation of information. One of the reasons why I'm so concerned about this is that I am very worried that Cardano projects will get commercially censored like we were commercially censored. So, yes we do have a page but it took five years to get there and we're a multi-billion dollar project with hundreds of thousands of people. If you guys are doing cutting-edge novel interesting stuff I don't want your experience to be the same as ours where you have to wait five years for your project to get a page even after government's adopted. That's absurd, no one should be censored ever. This is very well a fight for the entire ecosystem, the entire community, not just Cardano but all cryptocurrencies: bitcoin, ethereum and Cardano have all faced commercial censorship and article deletions during their tenure so I don't want you guys to go through that. I'm hoping we can prove that situation but you know you don't put all your eggs in one basket and frankly the time has come for wikipedia to be fully decentralized and liberated from a centralized organization and massively variable quality in the editor base. If legends of valor has a page but Cardano didn't have one until recently titcoin, a pornography coin from 2015, that's deprecated, no one uses it, has a page but Cardano couldn't get one there's something seriously wrong with the quality control mechanism and we need to improve that so it'll get done.
Trying to read might be more accurate this time through. Not finding a lot I like at the moment, or at least not a lot I can focus on. Not sure why. It's not like the world is more stressful than usual these days. Business As Usual (All Trades Book 2) by Shane Walker. Start with the success story, I always say. I finished and liked this one. I actually re-read book 1 and went on to book 2. The story is about a guy with a shady past who wants to make an honest buck, so he starts playing the newest deep dive VR game, which was created by an eccentric genius in order to promote his new blockchain/bitcoin like currency, which is his true passion. Your standard 10% of what you make in gold coins can be taken out as dollars setup, with a better justification than most such stories. It's a good story about a dedicated man who's very devoted to working his ass off to make his life better. And I like the jobs and skill system a lot. But the skill increases seem too fast to be particularly realistic, for a minor issue, and the MC sets up a charitable foundation in the real world and that definitely happens way too fast. Within a few weeks he's purchased multiple buildings (at maybe $250K each?) and has the charity all set up and helping lots of kids. It's definitely too fast, which is a weird criticism because otherwise I mostly like the way time passes in the story. The author is willing to say "and then a week or two passed" in a single line, which most litrpg authors seem to be allergic to. Good books, though, give 'em a try. A Keen Mage by Ledyr Tabot. Not litrpg but kind of progression fantasy if you squint. A budding mage with only a few cantrips to his name sets out for adventure and to earn money so he can learn more magic. He also spends a lot of time working on his spells to strengthen them and make them more effective, which is sort of like cultivation. It's a decent enough story, but the writing style is very tell not show, to the point that waking up early in the morning because a house is on fire nearby and going out to put out the fire and save the day happens in just about as much time as I spent on it. It's like a shorthand diary more than a novel, to my thinking at least. Put it down maybe 25% in. Artificial Dungeon: For Sale by Durl White. I like dungeon stories. I did not like this dungeon story, mostly because I got a fair way in and there was no actual dungeon yet. The author spent a lot of time setting up a story but not actually telling the story. Put it down maybe 33% in. Legendary Dungeon Seed by Marc Robert. This one I did finish, though I'd like to state for the record that it didn't have that cover when I read it. Guy playing VR game gets trapped into being a dungeon master, where he's going to have sex with his ladies but first he has to deal with a former friend who's pissed at him. That's basically the entire plot of this supposedly 150 page novel. Lots and lots of drawn out narration. Should've put it down maybe 50% in, skimmed the rest.
The Dow fell 525.05, or 1.92%, to 26,763.13, the Nasdaq lost 330.65, or 3.02%, to 10,632.98, and the S&P 500 declined 78.65, or 2.37%, to 3,236.92. The S&P 500 dropped 2.4% on Wednesday in a broad-based retreat that reflected cash-raising efforts. The Nasdaq Composite fell 3.0%, the Russell 2000 fell 3.0%, and the Dow Jones Industrial Average fell 1.9%. U.S. equity futures were firmer in early trading following an agreement on a continuing resolution to avoid a government shutdown and J&J announcing that it has begun a large phase 3 trial of its COVID-19 vaccine. However, the early gains did not hold and the major averages were all in the red by midday. All 11 S&P 500 sectors closed sharply lower between 1.1% (health care) and 4.6% (energy), and traditional safe-haven assets did not see the usual appreciation in times of equity weakness. An initial weakness in the mega-cap stocks, however, gradually spilled over to the broader market, and the negative price action appeared to reinforce the idea that the market's recent pullback may not yet have run its course. The CBOE Volatility Index increased 6.4% to 28.58, which was a relatively modest gain. Losses steepened in the afternoon without much interest to buy the dip. Shares of AAPL fell 4% while TSLA fell 10% post-Battery Day. On a related note, UBS resumed coverage on Apple with a Neutral rating, versus a prior Buy rating. Data from the Johns Hopkins Whiting School of Engineering shows there are now 31.7M confirmed cases of COVID-19 worldwide, including 6.9M in the U.S., and 972,372 deaths due to the disease, including 201,000 in the U.S. Separately, the House passed a government funding bill through Dec. 11 that the Senate is expected to pass later this week. Notwithstanding this piece of good news, general uncertainty surrounding the election, the coronavirus, and the economy likely increased the cash appeal. In other auto news, California Governor Gavin Newsom announced that he will "aggressively move the state further away from its reliance on climate change-causing fossil fuels while retaining and creating jobs and spurring economic growth," issuing an executive order requiring sales of all new passenger vehicles to be zero-emission by 2035 and additional measures to "eliminate harmful emissions from the transportation sector." Among the notable gainers was WDC, which rose 6.7% after the company announced that it is reorganizing and creating separate business units for its Flash and Hard Drive product businesses. Among the notable losers was JPM, which was lower by 1.6% after Bloomberg reported that the bank is set to pay close to $1B to resolve market manipulation investigations by U.S. authorities into its trading of metals futures and Treasury securities. Additionally, shares of DAL fell 2.2% as Bloomberg said that the airline is in talks with EADSY to delay at least 40 aircraft deliveries planned for this year due to the airline's struggles with a travel market hit by the coronavirus pandemic. Elsewhere, European stocks closed higher Wednesday as investors reacted to key data releases from the euro zone and weighed up the possibility of further stimulus measures for the region. Stocks in Asia-Pacific were mixed on Wednesday.
The U.S. Dollar Index rose 0.4% to 94.32, reaching its best level in nearly four months.
EUUSD: -0.4% to 1.1657
GBP/USD: -0.2% to 1.2712
USD/CNH: +0.7% to 6.8255
USD/JPY: +0.5% to 105.41
U.S. Treasuries ended Wednesday on a modestly lower note, but once again, intraday action was confined to a narrow range. The trading day started with modest losses after overnight action saw a rally in European markets, which reflected a rebound in risk tolerance. However, that rebound was short-lived, resulting in a slide into the European close and more weakness on Wall Street.
2-yr: UNCH at 0.13%
3-yr: +1 bp to 0.15%
5-yr: +1 bp to 0.27%
10-yr: +1 bp to 0.68%
30-yr: +1 bp to 1.43%
Oil rose more than 1% on Wednesday, supported by U.S. government data that showed crude and fuel inventories dropped last week, although concerns about the ongoing coronavirus pandemic capped gains. Spot gold dipped 1.5% to $1,870.11 per ounce, having hit its lowest since Aug. 12 at $1,865.03.
WTI crude: +1.0% to $39.94/bbl
Gold: -2.0% to $1868.90/ozt
Copper: -2.2% to $2.993/lb
Bitcoin fell as investors sold equities, gold and other fiat currencies on renewed coronavirus concerns.
Bitcoin: $10,331.92 (24hr: -1.71%)
Ethereum: $369.66 (24hr: -4.38%)
Ripple: $0.22 (24hr: -2.02%)
FAAMG + some penny stocks +18.5% YTD
Spoos +0.2% YTD
Old man -6.2% YTD
Russy -13% YTD
What Patrick, the Cat says?
The S&P 500 is down 5.3% in September while the Nasdaq Composite is down 6.9%. The market could go either way today (to state the obvious). Summaryscrapedfromtheinterweb.Took0.36seconds.
Ok so about a year ago i discovered crypto, my first purchase was 20 bucks worth of BTC at about 4 am, I had just finished verifying my coinbase account and was excited but nervous. I sat watching it flucuate and move up in value. I was instantly hooked. Fast forward to current times and while i still do hold bitcoin I am heavily invested in ethereum and erc-20 tokens, while i still do buy ether on coinbase pro or gemani, im mostly using uniswap and about a third of my portfolio is locked up in LP tokens staked for UNI. Ive been interested in defi since i discovered it this past spring and with good luck on my side ive taken profits on LINK i bought last winter and used my UNI airdrop to actually get involved. Im hooked again. I want to take the rest of my fiat savings and cash it in for stable coins to stake that i can borrow against in case of emergency, its looking like if i did things this way it would be in my best interest to obviously keep a checking account so that I can actually utilize any funds i would borrow as I am in ny state and most of the options like nexo, block fi and crypto.com are not available for me. I am not looking to do anything illegal or use a vpn to mask my location. We can use celsius but in NY state it is very limited in comparison and to be honest something about it just tickles me the wrong way. Im really asking and looking for two things.
Ny state friendly or not, if you have made this move what did you do ? How do you think the best way to go about it is and what are some serious things to look out for. I would prefer responses from people from NY state but would appreciate hearing from anyone at all.
while I have staked on multiple platforms compound, aave and uni I have never borrowed anything yet, how seamless is this normally and also is it possible to still be liquidated if you only borrow against stable coins ? I normally use dai which as we know does flucuate in price a little.
Bonus round: I have also heard that if you stake currency on lets say aave for example that borrowing against that allows you to utilize and sell your crypto without creating a taxable situation but whenever I hear this its never really made clear. Is this true, can i legit stake dai on aave and then borrow crypto against it, sell it on an exchange and withdraw it to my bank account to use without having to pay any taxs on the sale ? Anyways thankyou all for reading my little thing, any help is super appreciated. Also yes I am aware of the risks of doing something like this but to be honest i am an everyday dude who works a shitty job, im willing to take these risks so I can pull myself out of this position.
Hey guys -- big time lurker here, any tips or idea are greatly appreciated! I drank the Kool-Aid... I have become obsessed with blockchain, bitcoin, and the cryptocurrency space. I am a recent graduate (2019) with a major in Finance and minor in Information Systems. I currently work as a Financial Analyst for one of the largest banks in the US, my main focus is credit/underwriting. I am currently on tract to become more of a Relationship Manager (sales) within the next couple of years. Don't get me wrong I am appreciative I have a job especially during these tough times, but I am going to have a REALLY tough time trying to sell bank products that I can't truly get behind / don't believe in. Working at a bank has really opened my eyes to the inefficiencies that plague this industry. The future is digital, the future is the internet of money. I really want to break into the space for my professional career, especially in terms of sales, business development, or even project management. I know I do not have much experience now, but the future is just on the horizon and I don't want to be left behind. I do my best to research the space and learn something new everyday and I have the support/ability to pursue some type of graduate level education in the field. Is there anyone out there that is in the same boat?! Question: How is one to break into the crypto space, especially someone who is more analyst/sales/business development oriented as opposed to someone in the tech development/engineering/coding space?
Me [31 M] with my Girlfriend [24 F] 9 months, had a major fight about me hiding my financial wealth.
This is an alt account, so I will try to respond right away. This seems like the best sub to work this out, and thank you all for reading, and for any input you can give regarding this. Sorry if it's long. Ok, I was into Bitcoin, I cashed out right before the market crashed, so I ended up with quite a bit of cash. I looked into common issues regarding this, and decided to invest into myself. I did not quit my job, I purchased a modest cheap house in a decent area, I picked up a nice used car. I setup several different savings options and investment properties. I did not tell my family, as I am on very bad terms with most of them. I have posted a few stories about them on other subs, but they are all basically white trash, beggars, entitled, and just general bad people. If I gave them anything, they would waste it on drugs or something else, then demand more. The only one I get along with is my older half sister who basically raised me. A few months ago her phone broke so I purchased a refurbished Samsung Galaxy S8, and I was harassed for days by several other family members about getting them new phones as well. I love her to bits, but keeping a secret is just not something she can do. Ok, I meet my current girlfriend about 18-19 months ago from work. We work for 2 separate companies, but share the same building, same food area, and sometimes we work on the same project. I am in middle management and have been with my current company for almost 7 years, and she has worked with her current company for less than 2 years. We meet on a joint project, and sorta clicked. At the time though she was in another relationship so it did not go anywhere. Well she broke up with her ex, and we sorta did a few semi dates between then. But in October we started to go out seriously. She currently lives with her parents in town, but since my house is out of town, and has a shorter commute to work, I setup a room for when she sleeps over. I am a very light sleeper and can not sleep with the TV on, so I made a completely separate room for her to watch TV in before going to sleep. She has been sorta living with me full time for the last 4 months in part to protect her parents from COVID. We are both low risk, and do not have jobs with the general public, but take the virus seriously. I work from home 3-4 days a week, and setup one of the rooms into a full home office, but she can not. Well, she went though some of my mail, and found out the amounts I have in some of my accounts. I am very angry about this, and we got into a fight. She went on and on about me hiding money from her, and I was about her going into my personal mail. I will not go into everything that was said, but mainly. -She wants to quit her job and live with me full time, also house shopping, since our current home is not big enough for kids. When we started to date I pointed out I had no desire for kids, and got a vasectomy when I was 26. She wants me to get it reversed. -She wants to get married right away. I am against this since we have only really known each other for a less than a year. Marriage is a huge deal for me, and something I only want to do once in my life. I have had a few failed relationships in the past, and no not want to make a mistake, well saying that out loud to her was a big mistake. So that was another big fight. -She does not like the car I picked out for her. Her current car is way past its end of life, and needs replacement. I found a few somewhat local used car sales. They are all much better than her current car, and if maintained will last years. She states I have the money, why not use it? When I offered to help her out buying a car, I stated that I would only cover half the cost of the car, and not a whole new car. These are all major things, and we diffidently need to bring them up before our relationship can move forward. edit: My home situation was not great I have 8 that I know of siblings, step, half or otherwise, and gas-lighting was the normal. CPS was involved in my house hold multiple times, so gauging what is part of a normal situation was a bit hard for me. Some stuff just sticks with you for your entire life. edit 2: She texted me that she is staying with her parents until "I can figure out what is important in life", so I am now packing up her stuff to drop off tomorrow morning, after she goes to work. I have a locksmith coming by to change the locks, and I have canceled all my credit cards and changed my passwords to Amazon, Netflix, Hulu, and Disney+. This relationship is pretty much over. She texted me quite a lot of things that were just plain not nice, digging into a lot of my old traumas. tl;dr: I have a lot of money, girlfriend of 9 months wants to quit her job, get married and buy new cars.
Hello visitors and subscribers of scams! Here you will find a master list of common (and uncommon) scams that you may encounter online or in real life. Thank you to the many contributors who helped create this thread!
If you know of a scam that is not covered here, write a comment and it will be added to the next edition.
Caller ID spoofing It is very easy for anyone to make a phone call while having any number show up on the caller ID of the person receiving the phone call. Receiving a phone call from a certain number does not mean that the person/company who owns that number has actually called you. Email spoofing The "from" field of an email can be set by the sender, meaning that you can receive scam emails that look like they are from legitimate addresses. It's important to never click links in emails unless absolutely necessary, for example a password reset link you requested or an account activation link for an account you created. SMS spoofing SMS messages can be spoofed, so be wary of messages that seem to be from your friends or other trusted people.
The most common scams
The fake check scam (Credit to nimble2 for this part) The fake check scam arises from many different situations (for instance, you applied for a job, or you are selling something on a place like Craigslist, or someone wants to purchase goods or services from your business, or you were offered a job as a mystery shopper, you were asked to wrap your car with an advertisement, or you received a check in the mail for no reason), but the bottom line is always something like this:
The scammer sends you a very real looking, but fake, check. Sometimes they'll call it a "cashier's check", a "certified check", or a "verified check".
You deposit the check into your bank account, and within a couple of days your bank makes some or all of the funds available to you. This makes you think that the check is real and the funds have cleared. However, the money appearing in your account is not the same as the check actually clearing. The bank must make the funds available to you before they have cleared the check because that is the law.
For various and often complicated reasons, depending on the specific story line of the scam, the scammer will ask you to send someone some of the money, using services like MoneyGram, Western Union, and Walmart-2-Walmart. Sometimes the scammer will ask for you to purchase gift cards (iTunes, Amazon, Steam, etc) and give them the codes to redeem the gift cards. Some scammers may also give you instructions on how to buy and send them bitcoins.
Within a couple of weeks, though it can take as long as a month, your bank will realize that the check you deposited was fake, and your bank will remove the funds that you deposited into your account and charge you a bounced check fee. If you withdrew any of the money from the fake check, that money will be gone and you will owe that money to the bank. Some posters have even had their bank accounts closed and have been blocked from having another account for 5 years using ChexSystems.
General fraudulent funds scams If somebody is asking you to accept and send out money as a favour or as part of a job, it is a fraudulent funds scam. It does not matter how they pay you, any payment on any service can be fraudulent and will be reversed when it is discovered to be fraudulent. Phone verification code scams Someone will ask you to receive a verification text and then tell you to give them the code. Usually the code will come from Google Voice, or from Craigslist. In the Google version of the scam, your phone number will be used to verify a Google Voice account that the scammer will use to scam people with. In the Craigslist version of the scam, your phone number will be used to verify a Craigslist posting that the scammer will use to scam people. There is also an account takeover version of this scam that will involve the scammer sending a password reset token to your phone number and asking you for it. Bitcoin job scams Bitcoin job scams involve some sort of fraudulent funds transfer, usually a fake check although a fraudulent bank transfer can be used as well. The scammer will send you the fraudulent money and ask you to purchase bitcoins. This is a scam, and you will have zero recourse after you send the scammer bitcoins. Email flooding If you suddenly receive hundreds or thousands of spam emails, usually subscription confirmations, it's very likely that one of your online accounts has been taken over and is being used fraudulently. You should check any of your accounts that has a credit card linked to it, preferably from a computer other than the one you normally use. You should change all of your passwords to unique passwords and you should start using two factor authentication everywhere. Cartel scam You will be threatened by scammers who claim to be affiliated with a cartel. They may send you gory pictures and threaten your life and the lives of your family. Usually the victim will have attempted to contact an escort prior to the scam, but sometimes the scammers target people randomly. If you are targeted by a cartel scam all you need to do is ignore the scammers as their threats are clearly empty. Boss/CEO scam A scammer will impersonate your boss or someone who works at your company and will ask you to run an errand for them, which will usually be purchasing gift cards and sending them the code. Once the scammer has the code, you have no recourse. Employment certification scams You will receive a job offer that is dependent on you completing a course or receiving a certification from a company the scammer tells you about. The scammer operates both websites and the job does not exist. Craigslist fake payment scams Scammers will ask you about your item that you have listed for sale on a site like Craigslist, and will ask to pay you via Paypal. They are scamming you, and the payment in most cases does not actually exist, the email you received was sent by the scammers. In cases where you have received a payment, the scammer can dispute the payment or the payment may be entirely fraudulent. The scammer will then either try to get you to send money to them using the fake funds that they did not send to you, or will ask you to ship the item, usually to a re-shipping facility or a parcel mule. Craigslist Carfax/vehicle history scam You'll encounter a scammer on Craigslist who wants to buy the vehicle you have listed, but they will ask for a VIN report from a random site that they have created and they will expect you to pay for it. Double dip/recovery scammers This is a scam aimed at people who have already fallen for a scam previously. Scammers will reach out to the victim and claim to be able to help the victim recover funds they lost in the scam. General fraudulent funds scams The fake check scam is not the only scam that involves accepting fraudulent/fake funds and purchasing items for scammers. If your job or opportunity involves accepting money and then using that money, it is almost certainly a frauduent funds scam. Even if the payment is through a bank transfer, Paypal, Venmo, Zelle, Interac e-Transfer, etc, it does not matter. Credit card debt scam Fraudsters will offer to pay off your bills, and will do so with fraudulent funds. Sometimes it will be your credit card bill, but it can be any bill that can be paid online. Once they pay it off, they will ask you to send them money or purchase items for them. The fraudulent transaction will be reversed in the future and you will never be able to keep the money. This scam happens on sites like Craigslist, Twitter, Instagram, and also some dating sites, including SeekingArrangement. The parcel mule scam A scammer will contact you with a job opportunity that involves accepting and reshipping packages. The packages are either stolen or fraudulently obtained items, and you will not be paid by the scammer. Here is a news article about a scam victim who fell for this scam and reshipped over 20 packages containing fraudulently acquired goods. The Skype sex scam You're on Facebook and you get a friend request from a cute girl you've never met. She wants to start sexting and trading nudes. She'll ask you to send pictures or videos or get on webcam where she can see you naked with your face in the picture. The scam: There's no girl. You've sent nudes to a guy pretending to be a girl. As soon as he has the pictures he'll demand money and threaten to send the pictures to your friends and family. Sometimes the scammer will upload the video to a porn site or Youtube to show that they are serious. What to do if you are a victim of this scam: You cannot buy silence, you can only rent it. Paying the blackmailer will show them that the information they have is valuable and they will come after you for more money. Let your friends and family know that you were scammed and tell them to ignore friend requests or messages from people they don't know. Also, make sure your privacy settings are locked down and consider deactivating your account. The underage girl scam You're on a dating site or app and you get contacted by a cute girl. She wants to start sexting and trading nudes. Eventually she stops communicating and you get a call from a pissed off guy claiming to be the girl's father, or a police officer, or a private investigator, or something else along those lines. Turns out the girl you were sexting is underage, and her parents want some money for various reasons, such as to pay for a new phone, to pay for therapy, etc. There is, of course, no girl. You were communicating with a scammer. What to do if you are a victim of this scam: Stop picking up the phone when the scammers call. Do not pay them, or they will be after you for more money. Phishing Phishing is when a scammer tries to trick you into giving information to them, such as your password or private financial information. Phishing messages will usually look very similar to official messages, and sometimes they are identical. If you are ever required to login to a different account in order to use a service, you should be incredibly cautious. The blackmail email scam part 5: https://old.reddit.com/Scams/comments/g8jqnthe_blackmail_email_scam_part_5/ PSA: you did not win a giftcard: https://old.reddit.com/Scams/comments/fffmle/psa_you_did_not_win_a_gift_card/ Sugar scams Sugar scammers operate all over the internet and usually come in two varieties: advance-fee scams where the scammer will ask for a payment from you before sending you lots of money, and fake check style scams where the scammer will either pull a classic fake check scam, or will do a "bill pay" style scam that involves them paying your bills, or them giving you banking information to pay your bills. If you encounter these scammers, report their accounts and move on. Google Hangouts Google Hangouts is a messaging platform used extensively by all kinds of scammers. If you are talking with someone online and they want you to switch to Hangouts, they are likely a scammer and you should proceed with caution. Publishers Clearing House scams PCH scams are often advance-fee scams, where you will be promised lots of money after you make an initial payment. You will never need to pay if you win money from the real PCH. Pet scams You are looking for a specific breed of puppy, bird, or other pet. You come across a nice-looking website that claims to be breeding them and has some available right now - they may even be on sale! The breeders are not local to your area (and may not even list a physical location) but they assure you they can safely ship the pet to you after a deposit or full payment. If you go through with the payment, you will likely be contacted by the "shipper" who will inform you about an unexpected shipping/customs/processing fee required to deliver your new pet. But there was never any pet, both the "breeder" and the "shipper" are scammers, typically operating out of Africa. These sites are rampant and account for a large percentage of online pet seller websites - they typically have a similar layout/template (screenshot - example) If you are considering buying a pet online, some easy things to check are: (1) The registration date of the domain (if it was created recently it is likely a scam website) (2) Reverse image search the pictures of available pets - you will usually find other scam websites using the same photos. (3) Copy a sentence/section of the text from the "about us" page and put it into google (in quotes) - these scammers often copy large parts of their website's text from other places. (4) Search for the domain name and look for entries on petscams.com or other scam-tracking sites. (5) Strongly consider buying/adopting your pet from a local shelter or breeder where you can see the animal in person before putting any money down. Thanks to djscsi for this entry. Fake shipping company scams These scams usually start when you try to buy something illegal online. You will be scammed for the initial payment, and then you will receive an email from the fake shipping company telling you that you need to pay them some sort of fee or bribe. If you pay this, they will keep trying to scam you with increasingly absurd stories until you stop paying, at which point they will blackmail you. If you are involved in this scam, all you can do is ignore the scammers and move on, and try to dispute your payments if possible. Chinese Upwork scam Someone will ask you to create an Upwork or other freelancer site account for them and will offer money in return. You will not be paid, and they want to use the accounts to scam people. Quickbooks invoice scam This is a fake check style scam that takes advantage of Quickbooks. The blackmail email scam The exact wording of the emails varies, but there are generally four main parts. They claim to have placed software/malware on a porn/adult video site, they claim to have a video of you masturbating or watching porn, they threaten to release the video to your friends/family/loved ones/boss/dog, and they demand that you pay them in order for them to delete the video. Rest assured that this is a very common spam campaign and there is no truth behind the email or the threats. Here are some news articles about this scam. The blackmail mail scam This is very similar to the blackmail email scam, but you will receive a letter in the mail. Rental scams Usually on local sites like Craigslist, scammers will steal photos from legitimate real estate listings and will list them for rent at or below market rate. They will generally be hesitant to tell you the address of the property for "safety reasons" and you will not be able to see the unit. They will then ask you to pay them a deposit and they claim they will ship you the keys. In reality, your money is gone and you will have no recourse. Craigslist vehicle scams A scammer will list a vehicle on Craigslist and will offer to ship you the car. In many cases they will also falsely claim to sell you the car through eBay or Amazon. If you are looking for a car on Craigslist and the seller says anything about shipping the car, having an agent, gives you a long story about why they are selling the car, or the listing price is far too low, you are talking to a scammer and you should ignore and move on. Advance-fee scam, also known as the 419 scam, or the Nigerian prince scam. You will receive a communication from someone who claims that you are entitled to a large sum of money, or you can help them obtain a large sum of money. However, they will need money from you before you receive the large sum. Man in the middle scams Man in the middle scams are very common and very hard to detect. The scammer will impersonate a company or person you are legitimately doing business with, and they will ask you to send the money to one of their own bank accounts or one controlled by a money mule. They have gained access to the legitimate persons email address, so there will be nothing suspicious about the email. To prevent this, make contact in a different way that lets you verify that the person you are talking to is the person you think you are talking to. Digit wallet scam A variation of the fake check scam, the scammer sends you money through a digital wallet (i.e. Venmo, Apple Pay, Zelle, Cash App) along with a message claiming they've sent the money to the wrong person and a request to send the money back. Customer service for these digital wallets may even suggest that you send the money back. However, the money sent is from a stolen credit card and will be removed from your account after a few days. Your transfer is not reversed since it came from your own funds. Cam girl voting/viewer scam You will encounter a "cam girl" on a dating/messaging/social media/whatever site/app, and the scammer will ask you to go to their site and sign up with your credit card. They may offer a free show, or ask you to vote for them, or any number of other fake stories. Amateur porn recruitment scam You will encounter a "pornstar" on a dating/messaging/social media/whatever site/app, and the scammer will ask you to create an adult film with hehim, but first you need to do something. The story here is usually something to do with verifying your age, or you needing to take an STD test that involves sending money to a site operated by the scammer. Hot girl SMS spam You receive a text from a random number with a message along the lines of "Hey babe I'm here in town again if you wanted to meet up this time, are you around?" accompanied by a NSFW picture of a hot girl. It's spam, and they'll direct you to their scam website that requires a credit card. Identity verification scam You will encounter someone on a dating/messaging/social media/whatever site/app, and the scammer will ask that you verify your identity as they are worried about catfishing. The scammer operates the site, and you are not talking to whoever you think you are talking to. This type of scam teases you with something, then tries to make you sign up for something else that costs money. The company involved is often innocent, but they turn a blind eye to the practice as it helps their bottom line, even if they have to occasionally issue refunds. A common variation takes place on dating sites/dating apps, where you will match with someone who claims to be a camgirl who wants you to sign up for a site and vote for her. Another variation takes place on local sites like Craigslist, where the scammers setup fake rental scams and demand that you go through a specific service for a credit check. Once you go through with it, the scammer will stop talking to you. Another variation also takes place on local sites like Craigslist, where scammers will contact you while you are selling a car and will ask you to purchase a Carfax-like report from a specific website. Multi Level Marketing or Affiliate Marketing You apply for a vague job listing for 'sales' on craigslist. Or maybe an old friend from high school adds you on Facebook and says they have an amazing business opportunity for you. Or maybe the well dressed guy who's always interviewing people in the Starbucks that you work at asks if you really want to be slinging coffee the rest of your life. The scam: MLMs are little more than pyramid schemes. They involve buying some sort of product (usually snake oil health products like body wraps or supplements) and shilling them to your friends and family. They claim that the really money is recruiting people underneath you who give you a slice of whatever they sell. And if those people underneath you recruit more people, you get a piece of their sales. Ideally if you big enough pyramid underneath you the money will roll in without any work on your part. Failure to see any profit will be your fault for not "wanting it enough." The companies will claim that you need to buy their extra training modules or webinars to really start selling. But in reality, the vast majority of people who buy into a MLM won't see a cent. At the end of the day all you'll be doing is annoying your friends and family with your constant recruitment efforts. What to look out for: Recruiters love to be vague. They won't tell you the name of the company or what exactly the job will entail. They'll pump you up with promises of "self-generating income", "being your own boss", and "owning your own company." They might ask you to read books about success and entrepreneurs. They're hoping you buy into the dream first. If you get approached via social media, check their timelines. MLMs will often instruct their victims to pretend that they've already made it. They'll constantly post about how they're hustling and making the big bucks and linking to youtube videos about success. Again, all very vague about what their job actually entails. If you think you're being recruited: Ask them what exactly the job is. If they can't answer its probably a MLM. Just walk away.
You should generally avoid answering or engaging with random phone calls. Picking up and engaging with a scam call tells the scammers that your phone number is active, and will usually lead to more calls. Tax Call You get a call from somebody claiming to be from your countries tax agency. They say you have unpaid taxes that need to be paid immediately, and you may be arrested or have other legal action taken against you if it is not paid. This scam has caused the American IRS, Canadian CRA, British HMRC, and Australian Tax Office to issue warnings. This scam happens in a wide variety of countries all over the world. Warrant Call Very similar to the tax call. You'll get a phone call from an "agent", "officer", "sheriff", or other law enforcement officer claiming that there is a warrant out for your arrest and you will be arrested very soon. They will then offer to settle everything for a fee, usually paid in giftcards. [Legal Documents/Process Server Calls] Very similar to the warrant call. You'll get a phone call from a scammer claiming that they are going to serve you legal documents, and they will threaten you with legal consequences if you refuse to comply. They may call themselves "investigators", and will sometimes give you a fake case number. Student Loan Forgiveness Scam Scammers will call you and tell you about a student loan forgiveness program, but they are interested in obtaining private information about you or demanding money in order to join the fake program. Tech Support Call You receive a call from someone with a heavy accent claiming to be a technician Microsoft or your ISP. They inform you that your PC has a virus and your online banking and other accounts may be compromised if the virus is not removed. They'll have you type in commands and view diagnostics on your PC which shows proof of the virus. Then they'll have you install remote support software so the technician can work on your PC, remove the virus, and install security software. The cost of the labor and software can be hundreds of dollars. The scam: There's no virus. The technician isn't a technician and does not work for Microsoft or your ISP. Scammers (primarily out of India) use autodialers to cold-call everyone in the US. Any file they point out to you or command they have you run is completely benign. The software they sell you is either freeware or ineffective. What to do you if you're involved with this scam: If the scammers are remotely on your computer as you read this, turn off your PC or laptop via the power button immediately, and then if possible unplug your internet connection. Some of the more vindictive tech scammers have been known to create boot passwords on your computer if they think you've become wise to them and aren't going to pay up. Hang up on the scammers, block the number, and ignore any threats about payment. Performing a system restore on your PC is usually all that is required to remove the scammer's common remote access software. Reports of identity theft from fake tech calls are uncommon, but it would still be a good idea to change your passwords for online banking and monitor your accounts for any possible fraud. How to avoid: Ignore any calls claiming that your PC has a virus. Microsoft will never contact you. If you're unsure if a call claiming to be from your ISP is legit, hang up, and then dial the customer support number listed on a recent bill. If you have elderly relatives or family that isn't tech savvy, take the time to fill them in on this scam. Chinese government scam This scam is aimed at Chinese people living in Europe and North America, and involves a voicemail from someone claiming to be associated with the Chinese government, usually through the Chinese consulate/embassy, who is threatening legal action or making general threats. Chinese shipping scam This scam is similar to the Chinese government scam, but involves a seized/suspicious package, and the scammers will connect the victim to other scammers posing as Chinese government investigators. Social security suspension scam You will receive a call from someone claiming to work for the government regarding suspicious activity, fraud, or serious crimes connected to your social security number. You'll be asked to speak to an operator and the operator will explain the steps you need to follow in order to fix the problems. It's all a scam, and will lead to you losing money and could lead to identity theft if you give them private financial information. Utilities cutoff You get a call from someone who claims that they are from your utility company, and they claim that your utilities will be shut off unless you immediately pay. The scammer will usually ask for payment via gift cards, although they may ask for payment in other ways, such as Western Union or bitcoin. Relative in custody Scammer claims to be the police, and they have your son/daughtenephew/estranged twin in custody. You need to post bail (for some reason in iTunes gift cards or MoneyGram) immediately or the consequences will never be the same. Mexican family scam This scam comes in many different flavours, but always involves someone in your family and Mexico. Sometimes the scammer will claim that your family member has been detained, sometimes the scammer will claim that your family member has been kidnapped, and sometimes the scammer will claim that your family member is injured and needs help. General family scams Scammers will gather a large amount of information about you and target your family members using different stories with the goal of gettimg them to send money. One ring scam Scammers will call you from an international number with the goal of getting you to return their call, causing you to incur expensive calling fees.
Online shopping scams
THE GOLDEN RULE OF ONLINE SHOPPING: If it sounds too good to be true, it probably is. Dropshipping An ad on reddit or social media sites like Facebook and Instagram offers items at huge discounts or even free (sometimes requiring you to reblog or like their page). They just ask you to pay shipping. The scam: The item will turn out to be very low quality and will take weeks or even months to arrive. Sometimes the item never arrives, and the store disappears or stops responding. The seller drop-ships the item from China. The item may only cost a few dollars, and the Chinese government actually pays for the shipping. You end up paying $10-$15 dollars for a $4 item, with the scammer keeping the profit. If you find one of these scams but really have your heart set on the item, you can find it on AliExpress or another Chinese retailer. Influencer scams A user will reach out to you on a social media platform, usually Instagram, and offer you the chance to partner with them and receive a free/discounted product, as long as you pay shipping. This is a different version of the dropshipping scam, and is just a marketing technique to get you to buy their products. Triangulation fraud Triangulation fraud occurs when you make a purchase on a site like Amazon or eBay for an item at a lower than market price, and receive an item that was clearly purchased new at full price. The scammer uses a stolen credit card to order your item, while the money from the listing is almost all profit for the scammer. Instagram influencer scams Someone will message you on Instagram asking you to promote their products, and offering you a discount code. The items are Chinese junk, and the offer is made to many people at a time. Cheap Items Many websites pop up and offer expensive products, including electronics, clothes, watches, sunglasses, and shoes at very low prices. The scam: Some sites are selling cheap knock-offs. Some will just take your money and run. What to do if you think you're involved with this scam: Contact your bank or credit card and dispute the charge. How to avoid: The sites often have every brand-name shoe or fashion item (Air Jordan, Yeezy, Gucci, etc) in stock and often at a discounted price. The site will claim to be an outlet for a major brand or even a specific line or item. The site will have images at the bottom claiming to be Secured by Norton or various official payment processors but not actual links. The site will have poor grammar and a mish-mash of categories. Recently, established websites will get hacked or their domain name jacked and turned into scam stores, meaning the domain name of the store will be completely unrelated to the items they're selling. If the deal sounds too good to be true it probably is. Nobody is offering brand new iPhones or Beats or Nintendo Switches for 75% off. Cheap Amazon 3rd Party Items You're on Amazon or maybe just Googling for an item and you see it for an unbelievable price from a third-party seller. You know Amazon has your back so you order it. The scam: One of three things usually happen: 1) The seller marks the items as shipped and sends a fake tracking number. Amazon releases the funds to the seller, and the seller disappears. Amazon ultimately refunds your money. 2) The seller immediately cancels the order and instructs you to re-order the item directly from their website, usually with the guarantee that the order is still protected by Amazon. The seller takes your money and runs. Amazon informs you that they do not offer protection on items sold outside of Amazon and cannot help you. 2) The seller immediately cancels the order and instructs you to instead send payment via an unused Amazon gift card by sending the code on the back via email. Once the seller uses the code, the money on the card is gone and cannot be refunded. How to avoid: These scammers can be identified by looking at their Amazon storefronts. They'll be brand new sellers offering a wide range of items at unbelievable prices. Usually their Amazon names will be gibberish, or a variation on FIRSTNAME.LASTNAME. Occasionally however, established storefronts will be hacked. If the deal is too good to be true its most likely a scam. Scams on eBay There are scams on eBay targeting both buyers and sellers. As a seller, you should look out for people who privately message you regarding the order, especially if they ask you to ship to a different address or ask to negotiate via text/email/a messaging service. As a buyer you should look out for new accounts selling in-demand items, established accounts selling in-demand items that they have no previous connection to (you can check their feedback history for a general idea of what they bought/sold in the past), and lookout for people who ask you to go off eBay and use another service to complete the transaction. In many cases you will receive a fake tracking number and your money will be help up for up to a month. Scams on Amazon There are scams on Amazon targeting both buyers and sellers. As a seller, you should look out for people who message you about a listing. As a buyer you should look out for listings that have an email address for you to contact the person to complete the transaction, and you should look out for cheap listings of in-demand items. Scams on Reddit Reddit accounts are frequently purchased and sold by fraudsters who wish to use the high karma count + the age of the account to scam people on buy/sell subreddits. You need to take precautions and be safe whenever you are making a transaction online. Computer scams Virus scam A popup or other ad will say that you have a virus and you need to follow their advice in order to remove it. They are lying, and either want you to install malware or pay for their software.
Chinese Brushing / direct shipping If you have ever received an unsolicited small package from China, your address was used to brush. Vendors place fake orders for their own products and send out the orders so that they can increase their ratings. Money flipping Scammer claims to be a banking insider who can double/triple/bazoople any amount of money you send them, with no consequences of any kind. Obviously, the money disappears into their wallet the moment you send it.
Fanboyism, maximalism, interoperabilty, working with others and division of time transcript
Hi everybody, this is Charles Hoskinson broadcasting live from warm sunny Colorado. I wanted to make a video about division of time. I've been recently making a lot of commentary on the ETC ecosystem. I've also reached out to other ecosystems like the Bitcoin Cash ecosystem, the Litecoin ecosystem for a variety of reasons and I noticed that there are some people in the comments and then telegram and twitter and other places say "oh no" focus 100% of your effort on Cardano! Why are you talking to ETC, why are you doing this and doing that? So first off I run a big company. I we have over 250 people. About half of those people wake up every day and they're involved in Cardano. The other half are not so. As the CEO of a company where you have that kind of division there's non-Cardano things I do. Cardano's our largest project, we're heavily involved in it and obviously we wake up every day and we want Cardano to be successful and have billions of users and this is why we are following the process we're following. We're building the technology we're building. It's why we work very hard trying to commercialize it. Every deal we do in Africa, every deal we do in eastern Europe, every deal we do in Asia, we have a Cardano first policy of deploying those deals on that platform and we built that platform to service those deals and as that platform evolves you'll see more use and utility from our sales channels in that respect. That said, one of the pillars of a third generation cryptocurrency is interoperability. It's kind of a silly thing to be a maximalist but then also talk about interoperability. What the hell is the point that? Either you want one chain to rule them all and therefore you don't care at all about talking to other systems or you put your money where your mouth is and you work on those other systems. You build expertise in those systems, you affect changes in those systems so that those systems can partner with our systems and work with our systems. You know the Samsung CEO? He has a division that every day gets up and works with Apple and they work on the motherboards of the iPhone and build memory for them. Do all kinds of cool things and Samsung's division knows what the iPhone is going to look like before any of us knows. At the same time, there's another division at Samsung that wakes up every day and works on phones like the Galaxy to compete with the iPhone. Great companies have the capacity to do these things and we are a great company in that respect we have different and dedicated teams for different products and projects. Now, we will never work on overlapping systems. It's not the case that we're going to have developers go and work on Cardano and something that's a direct competitor of Cardano because it makes no competitive sense for that to happen and I do not view ETC as a competitor of Cardano. It's a proof-of-work system, not a proof-of-stake system. It's a code-is-law system, not a world-financial operating system. It's a system that will always have a smaller group of people in it and always have a smaller set of things to do so time spent there with a completely separate team has no bearing or impact on our ability to deliver things with Cardano. I can't accelerate things above and beyond what the teams can do, for example, today. I'm waiting for Daedalus flight to come out. There is nothing I can do. I can't pick up the phone and call the engineers and say can you ship it 15 minutes faster. The plan, it's been set, the release manager is there, the QA, team's there, everybody knows what to do. There's consensus amongst that team. They're going off to the mountain top, get it done and when it's done they'll let me know and then I'll tweet "new Daedalus is out guys" go play with it and it gives me some work to do of course but until they finish their job there's nothing to do in that respect. The Cardano plans we have are well set , we know exactly what we need to do. Those teams are working hard and I do everything in my power to accelerate things where and when it's safe to do so and everything in my power to get things done. Shelley, for example. We worked so hard to get that out on July 29th, we had almost unlimited overtime. Everyone worked the weekend. Some people worked over 40 days straight to get that release done. Meanwhile half of the company was doing other things in other capacities and working on those projects. None of their work or the other cryptocurrencies we tend to work with had any bearing or impact on our ability to accelerate or decelerate the Shelley work stream. I just want to make sure everybody understands that and for people who have developed a maximalist mindset to get out of that maximalist mindset. There's a place for maximalism, it's called Bitcoin maximalism. If you live there, go there, okay and go believe in that project, in that chain but this is the Cardano ecosystem. It's going to literally work with hundreds if not thousands of different standards over its life. From central banks to other cryptocurrencies to legacy financial operators from the Chases of the world to the Goldman Sachs' of the world. Provisions will be made to build special hooks for these systems including interoperability with permission systems. It's very likely in the next 24 months Cardano will be talking to an instance of Hyperledger Fabric from IBM. Very likely that that's going to happen. It's very likely that we'll consult on a project that does that and no way does this diminish the road map or somehow make Cardano less competitive. It's actually quite the opposite. The fact that we can work with those systems, the fact that we can do things with those systems means that the platform as a whole is intrinsically more valuable. It's easier to sell to Fortune 500 companies. It's easier to get use utility and adoption because people understand that they're not being led down the road of vendor lock-in and regressing back to the old days of internet explorer or what ConsenSys is trying to do with Ethereum, trying to lock everybody into one standard, one system, rather the value proposition we offer. Is true interoperability the ability to move in and out? Furthermore, when you create partnerships with other ecosystems then their success is our success. For example, if the treasury system proposal succeeds in ETC they will be in the market for a permanent treasury system in 2021. We as a community can make the case that we've constructed with Voltaire is a great choice for them and of course we'll try to make that case and if it's successful we provide mutual value and benefit more volume and transactions and activity on the Cardano network, and for ETC they have a best-in-class treasury system that meets the values of that community. The exact same argument can be made for Litecoin, or for Bitcoin cash or for other systems and if you want to see the wrapped Litecoin video that I did earlier in the year it gives a great road map for a potential push there. Furthermore, what if we turn Daedalus into a multi-currency wallet? That's already going to happen because we have a multi-asset standard and so when people issue tokens on Cardano Daedalus will support those tokens sometime in the future. It would be very easy for us to pull Ethereum classic and Litecoin and Bitcoin cash and other ecosystems into the Daedalus wallet. What does that mean? It means that people who live in that ecosystem will be using our technology as their day-to-day experience in hosting for their token! What does that mean if we have a DEX built into that thing? It potentially could create more adoption in use and utility for ada and this is the point we accomplish so much more working together than beating each other down. I am damn tired of the cryptocurrency markets as they are. The fanboys, the trolls, the FUD, the maximalism, the relentless allegations that people you disagree with or hold different tokens are scammers or criminals or bad human beings. It's time we as an industry set this aside and grow up. Just grow up or else what's the point? Why would anybody looking from the outside at all of this chaos and noise and insanity and maximalism want to come play in this pool? It's like you're about to enter a bar and you see a bar fight. Do you keep going in or you turn around and walk away and say I don't want that trouble. I'm going to go down the street somewhere else that's safer and so how will we ever get mainstream adoption, how will we ever make the argument to governments that they should trust their elections, their property, perhaps even the money of their people on our systems if we're incapable of entertaining other ideas, other philosophies and other ecosystems? We don't deserve the right for that responsibility if we're not mature enough to have differences of opinion and be able to welcome other ecosystems into our own. So this video is a call against maximalism first and foremost and second it's a realization that the duties of an executive officer are extensive meaning that there are days I wake up and there are Ethereum days and, by the way, working in that ecosystem gives me and my company exhaustive knowledge on how Ethereum works which allows me then to build a better product than they have and understand where all the bodies are buried: all the flaws in the protocols, the security issues, the performance issues, the smart contract development experience. That intimacy is extremely important to be able to predict, react and also plan a competitive strategy that can take you in a different and better direction. You just don't live in a mono-culture. It's a bad deal, that's the second point. You have many projects. When you have a larger company, some of those projects are completely separate from each other. Some of those projects may have a bit of overlap. We have a philosophy that we don't work on competing products. For example we have done work with horizon (Horizon2020?) and as a consequence of doing work with them we're probably not going to work on zcash at the same time. As long as we have that relationship there we, for example, work on Cardano so we're not going to go work on another proof-of-stake system that wants to be a financial operating system. That would be a direct competitor. For example, Tezos would be happy to jointly author papers and coordinate collaboration but there needs to be a Cardano benefit in that relationship whereas ETC as I've mentioned is a totally different system and it's something that we have as a company historically worked on for years. We started our participation in 2016. We built a full client in that process. Did that have any impact on our ability to deliver Cardano? We had a completely separate engineering team. That team was actually sourced from external companies. Scalac and Atix Labs to begin with and then we built on top of it and it had different product and project management and it was completely written with a different group. So it might as well have been a different company for that matter and I just talked to the team but the Cardano team was doing its own thing so I I think we need to just cut it out. Cut out the maximalism, cut out this idea that there is only one truth. We live in a nuanced world and we live in a world of interoperability. We have to embrace that if we wish to be successful and let us be the adults in the room. Let's be the place where this isn't the bar fight and let's be the place that welcomes everybody. Furthermore, I've noticed some criticism from my own community. When people criticize us and they go to the politics of destruction or personal attacks or yield on criticizing people's intelligence or whatever have you... Cut that out too. Let's be a better community. I repeatedly call upon the Tezos foundation to tell its community to stop criticizing Cardano and calling it's "a scam project". So, I'll call upon my own community, I have seen things that shouldn't have happened. Certain members of Cardano community replying to people over twitter, replying to people who criticize us have resorted to personal attacks and so forth. Again, just ignore them , mute, let's embrace unity, let's embrace being better, yes, occasionally you got to kick people in the teeth especially when people are lying and what you do is you call them out on the lies that they've made. You specifically point out where they have done things that are a bit crazy or disingenuous and dishonest. For example, we had a meeting today with Ethereum classic and it was blatantly apparent to me that this process has been set up to fail and be exclusive and prevent alternative ideas from a certain power structure from being held. So, I made a 30-minute whiteboard video where I not only called it out but I proposed an alternative and said this is how we're going to transcend that process and get to a much more productive way of doing things. Some of the criticism we have is justified because of product delays or because people don't fully understand who we are and what we're trying to do and obviously there's history there. So, first and foremost, let's reply with facts. First and foremost let's reply with dignity and respect and empathy for the other person's position and you know what? If they continue to push forward then you kick him in the teeth and you say it's obvious you don't want to have a conversation. You're a troll, but to my community please do this and please have this level of respect and dignity with others and with each other. For example, we right now have a lot of debates with small stake pools versus large stake pools, there's plenty of people floating around with differences of opinion and our mantra should always be disagree without being disagreeable. People are going to have other values people, are gonna have differences of opinion and people are gonna have different perspectives. You can't change that reality nor should you. We all have the right to think and have differences of opinion but we also should expect a dialog that's fair and has empathy in it and so I call upon everybody to preserve that decorum as we move forward and also understand that some days we wake up we have to do things that are non-Cardano related in order for us all to be successful because not all the world will ever be Cardano related. We always need partners whether it be great pieces of hardware like Ledger and Trezor or exchanges to work with different wallets and sometimes those partners do stuff with us and sometimes those partners do things with other people. We have friends, we have projects we admire and respect. For example, I've expressed repeatedly great admiration for the Algorand project. I think they're doing a phenomenal job and they have great leadership with Silvio Micali. I think the research and the engineering there is top notch. I personally believe Cardano is better. That's because we built it and that's because we think we have a better strategy to market and ultimately the market's going to decide which standards to go with and whether it's going to be many standards or a consolidation. That's not my decision. I just have to wake up every day and fight for the things I believe in. That said, never once have we ever criticized Algorand because they are in essence the model of empathy and dignity and good communication and being very proactive at focusing on solutions when they make announcements. They make announcements about new things that they're doing and new partners that they have and never once have they ever criticized another project or engaged in fanboyism. That's a great community, that's a great project and it's a model for where the space should go and I admire that deeply and greatly especially when you contrast it with other projects that have been less empathetic in their history. We all have our problems, we all have our issues. I know that we all can be better and so that's my final point. Let's do that. Let's be better as an industry. Let's be a bit friendlier and let's invest the time and effort necessary to really understand and listen to each other because ultimately I think that's going to get us where we need to go and be able to get us to a point where we have that adoption of millions and billions of people and fundamentally change the fabric of society. Otherwise we will be victims of our own success and descend into tribalism and descend into sectarian violence and then ultimately destroy the entire industry because it will become co-opted by large companies who use a surface-level marketing to take the brand, take the notion of a blockchain but then install centralized authorities behind them and in which case we've lost. I don't want that to happen I want the movement to succeed. I want us to understand each other and I enjoy having great competitors sometimes working with them sometimes fighting them in the battle of the markets, in the markets of ideas and ultimately I think we as a community have a chance to also be a model for everyone else. So, let's do that. Thank you... Video: https://www.youtube.com/watch?v=RXQrm18XhQ8
The Dow rose 131.06, or 0.48%, to 27,665.64, the Nasdaq lost 66.05, or 0.60%, to 10,853.55, and the S&P 500 advanced 1.78, or 0.05%, to 3,340.97. Traders at /thewallstreet cheered as volatility returned to the stock market. The major averages finished Friday's trading in mixed fashion, as dip buyers provided support for the Dow and the continued tech selloff made the Nasdaq the laggard once again. The chances for another round of fiscal stimulus ahead of the election were hurt yesterday after Democrats stopped the passage of the "skinny" GOP package, but the U.S. economy looks poised for a strong rebound in Q3, corporate earnings continue to largely overshoot pessimistic forecasts and the Fed remains "all in," leaving investors to mull the cross-currents. Similar to the days before, today's price action was technically-oriented given the absence of market-moving news and the losses in stocks like AAPL, -1.3%, AMZN, -1.9%, and MSFT, -0.7% on no specific corporate news. Apple shares fell 7.4% this week. The difference today was that their losses were offset by relative strength in the cyclical sectors, namely industrials (+1.4%), materials (+1.3%), and financials (+0.8%). Still, when Apple and Amazon are down more than 1.0%, there must be more winners than losers to make a meaningful difference. There were more of the latter on Friday, as declining issues outpaced advancing issues at the NYSE and Nasdaq. The information technology (-0.8%), consumer discretionary (-0.3%), and communication services (-0.3%) sectors ended the day in negative territory due to their exposure to the mega-cap stocks. Interestingly, the S&P 500 was down as much as 0.9% intraday and fell below its 50-day moving average (3322). A broad rebound in the afternoon, however, helped the benchmark index turn positive and close above the key technical level. In TikTok news, President Trump said that the deadline established for China's ByteDance to sell video-sharing service TikTok's U.S. operations would not be extended, Reuters reported. "It'll either be closed up or they'll sell it," the president told reporters, adding, "There will be no extension of the TikTok deadline." MSFT in partnership with WMT and Oracle have been seen as the leading suitors to purchase TikTok's operations in the U.S., Canada, Australia and New Zealand. Subsequently, Reuters reported that Chinese officials are so opposed to a forced sale of TikTok's U.S. operations that they would prefer to see the app shut down in the U.S. over that conclusion. Reuters noted that China was willing, if needed, to use revisions it made to a technology exports list on Aug. 28 to delay any deal reached by ByteDance. Electric vehicle hopeful NKLA continued its fight this morning with a short-seller, which now appears to be "short-sellers." Nikola issued a statement in response to claims made about the company by activist short-seller Hindenburg Research yesterday, calling the firm's report "a hit job for short sale profit driven by greed." Nikola, which added that it has "nothing to hide and we will refute these allegations," announced that it has retained law firm Kirkland & Ellis to evaluate potential legal recourse and intends to bring the actions of the short-seller, together with evidence and documentation, to the attention of the SEC. Following the company's press release regarding the response, Andrew Left's Citron Research said via Twitter, "Congrats to Hindenburg for exposing what appears to be a total fraud with $NKLA. Citron will cover half of all legal expenses. You can't SLAPP the truth away. Explains why Milton sold at $10 this June $NKLA response warrants an SEC investigation to maintain integrity of EV mkt." After having dropped 11% on Thursday, Nikola shares fell a further 14.5%. Meanwhile, CNBC reported that AAPL has updated its App Store guidelines ahead of the release of iOS 14, with one major revision relating to game streaming services. The tech giant said in its revised guidelines that services such as Google Stadia (GOOG) and Microsoft xCloud are explicitly permitted, though under the condition that games offered in the service must be downloaded directly from the App Store, not from an all-in-one app. Among the noteworthy gainers was Shares of ORCL, which was in focus after the company reported what Barclays analyst Raimo Lenschow called a "surprisingly strong beat" and growth on licenses despite the continued macro uncertainty. NOG, which rose 1.3% after acquiring interests in the Delaware Basin and raising Q3 production guidance. Also higher was CX, which gained 8.3% in New York after Morgan Stanley analyst Nikolaj Lippmann upgraded the stock to Overweight from Equal Weight. Among the notable losers was AMRS, which dropped 25.8% after responding to a lawsuit filed by Lavvan against the company for patent infringement and trade secret misappropriation. Also lower was CHWY, which declined 9.8% after reporting some cats have tried to take over the company with whiteclaws. Despite a blowout fiscal Q4 report, PTON were 4.2% lower following last night's from the fitness products and services provider. Elsewhere stocks were higher, with the Shanghai composite up 0.79% to around 3,260.35 while the Shenzhen component rose 1.57% to about 12,942.95. Hong Kong’s Hang Seng index advanced 0.78% to end its trading day at 24,503.31.
The U.S. Dollar Index (93.35, +0.01, unch) reclaimed its overnight loss, gaining 0.7% for the week.
EUUSD: +0.1% to 1.1828
GBP/USD: -0.1% to 1.2788
USD/CNH: -0.1% to 6.8345
USD/JPY: UNCH at 106.09
U.S. Treasuries ended the abbreviated week with modest gains across the curve. The cash session started with some light selling for the second day in a row, but the market recovered from the early dip with ease.
2-yr: -1 bp to 0.13% (-3 bps for the week)
3-yr: -1 bp to 0.15% (-3 bps for the week)
5-yr: -1 bp to 0.25% (-5 bps for the week)
10-yr: -2 bps to 0.67% (-5 bps for the week)
30-yr: -2 bps to 1.42% (-5 bps for the week)
Gold slipped on Friday on a lack of further stimulus from the European Central Bank and the U.S. government, but for the week the safe-haven metal was set to end higher. Crude remained on track for a second weekly drop as investors expected a global glut to persist if demand weakens further with rising COVID-19 cases in some countries.
WTI crude: +0.2% to $37.34/bbl
Gold: -0.8% to $1948.30/ozt
Copper: +1.3% to $3.04/lb
Bitcoin is struggling to gather upside traction despite repeated defense of support at $10,000. The top cryptocurrency’s sell-off from the August high of $12,476 looks to have come to a halt near $10,000 over the past seven days.
Bitcoin: $10,332.31 (24hr: +0.45%)
Ethereum: $369.66 (24hr: +1.48%)
Ripple: $0.24 (24hr: -0.10%)
FAAMG + some penny stocks +21.0% YTD
Spoos +3.4% YTD
Old man -3.1% YTD
Russy -10.3% YTD
Total CPI increased 0.4% m/m while core CPI, which excludes food and energy, also rose 0.4%. Those gains left total CPI up 1.3% yyr and core CPI up 1.7% yyr. The key takeaway from the report, which featured the largest increase in the index for used cars and trucks (+5.4%) since March 1969, is that the increase in the all items index was broad-based; nonetheless, annual inflation rates are still running well below 2.0%, so there is still more noise than bothersome policy signal in the August report.
IPO (Most Anticipated)
Week of Sep14-18
Company: AMWL Amwell (NYSE) | Leading telehealth company enabling digital delivery of care for healthcare’s key stakeholders | Initial Shares: 35.0 M | Initial Range: $14.00-16.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Morgan Stanley, Goldman Sachs, Piper Jaffray, UBS, Credit Suisse, Cowen
Company: BNL Broadstone Net Lease | REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties | Initial Shares: 33.5 M | Initial Range: $17.00-19.00 | Priced On: NA | Opened: NA | Underwriters: Lead: J.P. Morgan, Goldman Sachs, BMO Capital Markets, Morgan Stanley, Capital One Securities, Truist Securities
Company: FROG JFrog (Nasdaq) | Developer of an end-to-end, hybrid, universal DevOps platform | Initial Shares: 11.6 M | Initial Range: $33.00 -37.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Morgan Stanley, JP Morgan, BofA Securities
Company: SNOW Snowflake (NYSE) | Developer of a data cloud platform that enables customers to consolidate data into a single source to drive business insights | Initial Shares: 28.0 M | Initial Range: $75.00-85.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Goldman Sachs, Morgan Stanley, JP Morgan, Allen & Co, Citigroup
Company: STEP StepStone Group (Nasdaq) | Global private markets investment firm | Initial Shares: 17.5 M | Initial Range: $15.00-17.00 | Priced On: NA | Opened: NA | Underwriters: Lead: JPMorgan, Goldman Sachs, Morgan Stanley, Barclays, UBS Investment Bank
Company: SUMO Sumo Logic (Nasdaq) | Pioneer of Continuous Intelligence, a new category of software, which enables organizations to address opportunities presented by digital transformation and cloud computing | Initial Shares: 14.8 M | Initial Range: $17.00-21.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Morgan Stanley, JP Morgan, RBC Capital, Jefferies
Company: U Unity Software (NYSE) | Leading platform for creating and operating interactive, real-time 3D content | Initial Shares: 25.0 M | Initial Range: $34.00-42.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Goldman Sachs, Credit Suisse, BofA, Barclays, William Blair
Week of Sep21-25
Company: PLTR Palantir Technologies (NYSE) | Software developer for defense, intelligence agencies, law enforcement, and commercial enterprises | Initial Shares: 244.2 | Initial Range: NA | Priced On: NA | Opened: NA | Underwriters: Lead: Direct Listing
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