Welcome to In Case You Missed It (ICYMI), a quick exposure Twitter thread brought by your favorite ICO lover, Linzerd. Samourai wallet features cut by Google. Ethereum mining pools centralized. Chinese millionaire who threw money from rooftops accused of ICO scam. Chris Pacia schools Willy Woo. Brian Lee exposes Substratum’s fuzzy operations, and French tobacco shops will sell bitcoin for cash.
Samourai Wallet Excludes Features Due to Google Policies
Samourai Wallet, a bitcoin wallet available for the Android system, announced today they will discontinue important security features from their mobile software due to new “extremely restrictive” policies Google is applying to the apps distributed through their Google Play app store. These features include Stealth Mode, SIM Switch Defense, and Remote SMS Commands. However, Samourai will provide side-loading links for people to download their app from outside the official Google Play store.
Two Mining Pools Control More Than 50% of Ethereum Hash
A new investigation found decentralization in the mining pools of the most important cryptocurrencies out there is nothing but a lie. According to them, two Ethereum mining pools have more than 50% of the available hash, a recipe for disaster if these two actors collude against Ethereum in the same way Ethereum Classic was attacked recently.
Chinese Millionaire Who Threw Money from Rooftops Accused of Crypto Scam
The Chinese cryptocurrency millionaire Wong Ching Kit, who had his ten minutes of fame by throwing lots of cash to the people in the streets, has now been accused of cryptocurrency fraud. According to the source, he offered mining services and invested users’ funds to mine Filecoin, a “useless” currency, and when these investors asked for refunds, he answered with evasiveness. There is no good way of trusting your money to a guy who will throw it from a rooftop.
Chris Pacia Attacks “Bucket” Bitcoin Store of Value Proposal
An asset without utility means the only place demand can come from is new investors. And since investors need ROI to justify risk this implies a perpetually increasing stream of new investors. AKA you're describing a ponzi scheme.
— Chris Pacia (@ChrisPacia) January 8, 2019
Chris Pacia, one of the lead developers for the independent and decentralized cryptocurrency market OpenBazaar, has schooled cryptocurrency analyst Willy Woo about the real utility of bitcoin. He stated that an asset without utility is just a greater fools investment, where ROI can only be gained by pumping demand and growing rows of new investors, a thing he called a Ponzi scheme, but many corrected as a pyramid scheme. Be it as it may, he surely has a point.
Brian Li Exposes Substratum Fuzzy Operations
1/ After examining #Substratum's #BCH and #LTC crowdsale wallets and finding major discrepancies, I decided to take a look at the #ETH wallet. For reference, Substratum reported 17,778.25 ETH were collected during the ICO process.https://t.co/Y3ugzapwSa
— Brian Li (@DecryptoBL) January 8, 2019
Days ago we reported about an ICO called Substratum using some of their funds to day trade Ethereum for increasing their funds as a consequence of the bear market. However, Brian Li, a writer at Decrypto.net, has written a thread on Twitter, sharing a series of supposed irregularities that place the project in suspicion of embezzlement and worse. Another user stated he raised these concerns in the project’s Telegram, and was banned immediately.
French Tobacco Shops Diversify to Sell Bitcoin
A group of more than six tobacco retailers facing obsolescence and bad sales have changed their main objective, and are now selling bitcoin alongside a slew of goods. This could be a new entry point for people who want to buy bitcoin with cash at regular stores. The fintech company behind this plan, Keplerk, wants to enroll more than 6,500 tobacco shops by the end of this year, according to Reuters.
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