Category Archives: Sad news

Get ready to buy Bitcoin over the next few days

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It’s all over the web, blog, search engine, news media, you name it. If it’s related to Bitcoin news, you would know that on June 27th is the day when the US Fed Government auction close to 30,000 BTC Bitcoin to the public, US resident that is, whoever have at least $200,000 in their bank.

The prediction all over the places are: Bitcoin continue to drop, and it has been dropping from $700 down to $550 now. Just a couple of days more to go. Bitcoin most likely to drop to lower than $400 a BTC. The reason is because of this 30,000 Bitcoin, somebody going to get a good deal out of it, possibly in the 100s or so per coin, not sure what they will do with it, most likely some will get sold, and spread somewhere, who knows. This will impact Bitcoin BTC value for sure. The hope is that within a couple months after this event Bitcoin will start to rise back up again. We don’t know.

So buy Bitcoin people, don’t buy miner, it’s not a good idea to buy miner.

Bitcoin price will drop to $400 or less near June 27th 2014 as Fed auction 30,000 for cheap

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Previously Fed Government had announced the auction of about 30,000 Bitcoin BTC publicly, anyone whom can proof that they’re US resident and bank balance of $200,000 will qualify for this auction. Sadly this is where the rich getting richer and the poor getting poorer.

Bottom line, the Bitcoin BTC price already started falling when the news spread, people get nervous and sold their Bitcoin. BTC price dropped from $700 down to $600 now to $550 as June 27th 2014 is getting closer and closer. The price of BTC will continue to fall to $400 or lower right before the auction and after the auction. After the auction it could continue to fall even lower for a period of time, could be months and months before it can regain again.

The Fed Gov. really know how to disrupt the price of Bitcoin, although they’re not getting rid of Bitcoin totally, but they’re showing who’s boss. Sadly, it work and they can control the price of Bitcoin unfortunately, as we are currently seeing. People are afraid of the Fed Government.

In the past Bitcoin rise and fall did not influences much from bad or good news. Even where there were a lot of Exchange got shut down, owners operators got arrested, it didn’t really impact the price of Bitcoin much. Now the Fed Gov. testing new methods, and it work. We don’t know what other tricks the Fed Government have up their sleeves.

Everyone into Bitcoin, expect major loss these coming days. If you want to be safe, might want to sell your Bitcoin miners now! and I mean now! especially those that are paying for electricity off of selling their Bitcoin monthly. There isn’t any profit. The expected Bitcoin mining difficulty will reach over 30% increase, so do your match, difficulty mining rise, BTC price drop for long time, do your homework, do your math.

Most Bitcoin miners hardware manufacturer got sued!

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This come as a surprise! Let me say this first. Made in China products, most if not all have low quality, cheap, and sometime very dangerous. However not in this case, for the Bitcoin Miner that are Made in China, get delivered, and they don’t promise anything in term of pre-order and estimate delivery date months later.

Sadly to say, BFL Butterfly Lab got sued. FastHash got sued and filed chapter 11 bankruptcy protection. Cointerra recently got sued, and many more. Smaller Bitcoin manufacturer such as AMT miner actually stop manufacture actual miners but just supplying the chips, selling the ASIC chips instead. The reason for these lawsuits all came down to broken promise, way off estimate of delivery date. Taking preorder and does not offer refunds, or refunds request takes 1-2 months or longer and sometime refund was never refunded back to the buyer’s bank.

Once again, I don’t like too many Made in China products, but it seems like the Chinese version of Bitcoin miner such as the Bitmain, Dragon miner and so on, who knows if they’re real company or just a one day company where they manufacture the products and then have a massive sales, distribution, made big profit then move on. Bottom line, these Chinese Bitcoin miner does work, and they get delivered even from China, but some local distributors here also such as minersource.net

So thumbs up! for the Chinese Bitcoin miner, keep up the good job!

http://arstechnica.com/tech-policy/2014/06/even-venture-backed-bitcoin-miner-startup-cant-deliver-on-time-gets-sued/

Bitcoin fraud threats Notice of Extortion

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First let me post this link from reddit since it has better comments than me. http://www.reddit.com/r/Bitcoin/comments/28r68b/notice_of_extortion_context_in_comments/

I also posted the letter below. Watch out! New currencies, Bitcoin, we’re back in square one with the fraud, scam, and threats in order to get the Bitcoin. Similar to any paper currencies and properties. With Bitcoin it’s a litte bit different because the it’s more anonymous harder to trace, but it’s possible with threats like this.

Bitcoin fraud scam Notice of Extortion to threats people and business to send bitcoin

Bitcoin fraud scam Notice of Extortion to threats people and business to send bitcoin

[SCAM] coingeneration.com latest scam anyone still falling for their tricks?

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I wonder if anyone still falling for coingeneration.com scam tricks? coingeneration.com scam has been tricking scamming fraud members for maybe a year now, and surprisingly they’re still on up and running to scam new members, I guess even one person fall for their scam is good enough to make some money off that person, a sucker really whoever fell for coingeneration.com scam.

If you search on google or any search engine about coingeneration.com you would realize that coingeneration.com is in the business of scamming people money, and for almost a year now, they had scammer close to the hundreds of thousands of dollars and nobody can do anything about it. Because those whom invested money in coingeneration.com scam simply gave away free money, through payment processors that cannot be reversed, cancel, or dispute. It’s a one way transaction, your money is gone.

Needless to say, the way coingeneration.com scam work is that, you download a fake program software that doesn’t do anything beside calculating # based on your computer hardware, and IP address then communicated back to a server somewhere to record the IP and integrated with the website for login verification purpose, that is all the so call “Thread manager” are doing. So how do coingeneration.com scam trick you? simple! by updating their news messages in the members homepage, very professional writing, and off course the continuous software update of Thread manager which doesn’t do anything. Now when you invested money, they will support you fast! to get your money, to steal your money really. Once you’re in, they may pay you a few dollars here and there, and then you get placed into a special group of members where they will manipulate your account, they will know when you no longer reinvest or add more money, so they stopped paying that particular group of people and simply once a gain update news released explaining reasons why they cannot make payout to you, and they will keep coming up with stories, broken promises, taking advantage of whatever they can to not paying you anything.

What coingeneration.com scam doing is scamming you. Killing time to withdraw the cash into their bank and then close it. Then coingeneration.com scam repeated the same cycle again with new members, as it get less and less since people knew about scam, they make less money but coingeneration.com don’t make one scam website, coingeneration.com creates many scam websites running the same methods of HYIP, with many modification to tricks people in giving them free money. Nothing anyone can do about it since they operate anonymously. Coingeneration.com scam collected credit card #, social security #, driver license, passport documents of members and use it to continue their quest to scam more people. The documents you provided to coingeneration.com they use it for criminal activities and off course this scam, domain registration was under a stolen identity that’s why it’s not easy to find out who’s behind this operation. All registered to stolen identity and fake IP addresses.

Keep in mind these domains. coingeneration.com, dgstocks.com, btc-o-matic.com, newsbtc.com they are all connected somehow and one person has been wiriting very good news releases story. Especially the newsbtc.com wrote about btc-o-matic.com Bitcoin ATM machine is a fake, lied, lies.

 

ThreadManager Update
Thread Manager ver. 4.0 has been finally released which should allow to significantly increase the performance of our mining operation. This is a new level of CG continuous efforts to develop the best solution for Altcoins cloud mining platform. All users are requested to update their current version to final release ver. 4.0 as we require to finalize the changes of the server part as well. Once we are done with the update CG will apply further strategies to resume daily payouts based on actual pool performance. Despite we haven’t been as successful as we wanted to be within the last few months we are confident the results will keep everybody happy and we’ll strike forward to make things work as they should. Period.

Changes are on their way!

Best Regards,
CG Staff

Federal Government making big mistake auctioning close to 30,000 Bitcoins what can the winner do with these Bitcoins?

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This activity from the Federal Government really going to crash Bitcoin for sure! no doubt! In the a few days, the lucky winner will obtain in possession of close to 30,000 BTC Bitcoin. What will they do with it?

  • Sell it to individual with very cheap price, cheaper than exchange business, causing the price of Bitcoin to go down.
  • Deposit to exchanger and cash it out slowly, causing the price of Bitcoin price to go down.
  • Use it to buy legal products and services.
  • Use it to buy illegal products and services.
  • Use it for bad purpose such as drugs, and gang activities.
  • Use it to hurt someone or something or some place.

I think the Federal Government are making a big mistake doing this auction of 30,000 BTC Bitcoin, as the winner will probably get involve in illegal activities since they already know these Bitcoin activities cannot be traced that easily, and perhaps these Bitcoin will fall into the bad guy and will use it against the Federal Government.

This is how the government can impact the price of Bitcoin BTC

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Have you ever wonder what can impact the price of Bitcoin BTC dramatically? Well one way for sure is this today. USMS Asset Forfeiture Sale Bitcoin June 2014 to the publicThis website is a government website and it’s auctioning close to 30,000 (thirty thousand) BTC Bitcoins to the public. Anyone whom have money can buy it, you don’t have to buy it from the exchanger. So who’s going to get this $20 Million worth of Bitcoin? well anyone! anyone whom have $200,000 cash deposit or as insurance to proof that you’re serious to get this 30,000 Bitcoin.

But wait! this is not a transfer of 30,000 Bitcoins into your wallet nor the wallet that contain 30,000 Bitcoins where you can easily get to and start transferring and selling it right away I don’t think. I think it is more complicated than that. The wallet files contained these Bitcoin, is it password protected? encrypted? Well I don’t really know much about it. What I do know is that when these Bitcoin being sold on exchange, the price of Bitcoin will for sure dropped to the ground. It’s obvious that the more people buy Bitcoin, the price of Bitcoin rise go up and up, the more Bitcoin being purchased, the higher the price of Bitcoin rise skyrocketed as investors buys Bitcoin.

I don’t know what really will happen. However at the moment, the price of Bitcoin BTC are falling dropping from 650 to 550 in one day, or actually less than a day, perhaps after the news broke out that Government are auctioning 30,000 Bitcoins and taking aggressive action against Bitcoin “silk road” mostly unethical activities though.

This action from the Federal US Government really going to hurt Bitcoin price for sure, it will tumble and hit to possible single digit when these 30,000 coins are being sold cashed out. No, I’m not exaggerating! Look at MtGox for example, causing the price of Bitcoin rise! to over one thousand dollars per BTC, then something happen, MtGox loss all the Bitcoins? Then price tumbled looses 50% value. So this action from government we don’t think it will cause Bitcoin to loose 50%? So if the price now is $550, what would 50% be? so maybe not down to single digit, but maybe $100s

US government action against Bitcoin US Marshall auctioning 30,000 Bitcoins BTC to the public causing Bitcoin price to tumble

US government action against Bitcoin US Marshall auctioning 30,000 Bitcoins BTC to the public causing Bitcoin price to tumble

 

What’s the best Bitcoin mining hardware to buy today to get your ROI back fast?

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Short answer: “Bitmain Antminer S1 Dual Blade 180 Gh/s Bitcoin Miner” This miner as of today cost 220USD in China, and here in the USA is less than $299, as of today. It will go down further, depend on the production of the Bitcoin miners from other manufacturer shipping status.

I think this is a good deal, you will get your ROI back in a couple of months based on the Bitcoin price today and also the Bitcoin difficulty level. Don’t expect you can do anything else beside mining Bitcoin with this hardware, it is specifically designed for Bitcoin mining only, SHA256, sure you can mine are other SHA256 but most likely you will not make more money than mining Bitcoin itself.

With the delay in shipping many Bitcoin miners from KNCminer and BFL, largest producers of Bitcoin mining hardware. As of today don’t know why the delay so long, and people are asking for their money back. But, I think it’s a win win situation for the manufacturer though, like BFL Lab for instant. They took pre-order, but never ship any 28nm as of today, some has been waiting close to a year already, let alone saying 6 months for me. So what happen here is, BFL took the money and invest in building the hardware and then mine it themselves, since they make more money mining than actually selling these hardware to the customers, but wait! eventually they will ship to the customers. For many others, just request refund after over 6 months of waiting, however it will takes over 1 month to get the refund back, and a total of over 7 months waiting that money spent on the pre-order people could have just purchase bitcoin and make money by now.

12 years old got stabbed 19 times by her friends same age?

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Someone really make understand how, what idea, what influences these 12 years old to stab her friends 19 times? I don’t really get it. I can understand old kids in their mid teens could possibly do such thing, bu a 12 years old?

Was this a result of watching too much violent movies, games or seeing it personally? Well the bottom line is, according to CNN news indicated that these 12 years will be trial like an adult.

http://www.cnn.com/2014/06/03/justice/wisconsin-girl-stabbed/index.html?hpt=hp_t1