FTC Data Shows Huge Spike in Cryptocurrency Investment Scams

Since October 2020, consumers have reported losing more than $80 million to cryptocurrency investment scams, an increase of more than ten-fold year-over-year, according to a new data analysis from the Federal Trade Commission. In a new consumer protection data spotlight, the FTC breaks down the contents of nearly 7,000 reports received from consumers about these … Read more

Why Is Bitcoin So Volatile?

Of all the things Bitcoin is rightfully known for—its range as a payment network, not the security of its protocol, nor the potential for blockchain technology to revolutionize any field that uses a database—there’s one that stands out as it’s most defining feature: its price, and how it goes up. But the price of Bitcoin … Read more

Using Bitcoin to Build an Emergency Fund – Update #2

This is the second update in my weekly series of my experience using cryptocurrency to get people excited about saving money. I will be the first person to admit there is little fundamental reasoning behind investing in cryptocurrencies like Bitcoin, Litecoin, Ethereum, or any one of the many other digital currencies out there. However, one … Read more

How to Use Bitcoin to Get Out of Debt or Build an Emergency Fund

Bitcoin and other cryptocurrencies are going from a dull whisper to a louder conversation lately. The value of Bitcoin especially has shot way up. I remember when I first heard about Bitcoin in 2015 and it was trading for around $200 a Bitcoin. It’s now gone as high as $18,000 for that same Bitcoin. A … Read more

Quick, Get Your Shocked Face Ready to Read About Bitcoin Scam

At the request of the Federal Trade Commission, a federal court has shut down Butterfly Labs, a Missouri-based company that allegedly deceptively marketed specialized computers designed to produce Bitcoins, a payment system sometimes referred to as “virtual currency.” The FTC’s complaint against the company and its corporate officers alleges that Butterfly Labs charged consumers thousands … Read more

Coin Market – Consumer Complaint – March 24, 2014

Consumer Statement: I’m a registered and verified user of an US-based Bitcoin exchange whose name is Coin Market. This exchange is a federally registered MSB under FinCEN and the register number is # 31000027417046. From the beginning of March I can no longer withdraw my moeny while deposit is no problem, however there is no … Read more

Digital Bank Robber Steals $500,000 In Bitcoins. Who Didn’t See This One Coming?

There are many things in the world that engage my well-known automatic body response of a slight cocking of my head, a furrowed brow and a whisper of the word “really?”. But today, I fear that minor automatic response stepped aside as I threw my head into my hands, dropped my elbows down onto my … Read more