Bitcoin QR Code Scams Found Flooding Google Search Pages

The crypto industry has not been without its fair share of scams and cons. Bitcoin has battled this reputation since its inception and FUD-fueled mainstream media outlets do not help matters. Social media and search giants are equally to blame but that doesn’t stop the Bitcoin bashing.
More Fake Google Results For Bitcoin
Researchers have discovered that the majority of links returned in Google search pages for Bitcoin QR code generators are for fake or scammy websites. Forbes, in its usual Bitcoin-bashing stance, reported that it is just another crypto scam that has hindered adoption.
What it should have reported was that it is a Google scam for allowing these fraudulent links on its search engine in the first place. The study reported that 4 out of the first 5 results presented when querying Google were leading to scammer’s website.
According to the researchers from crypto wallet provider ZenGo, the QR codes generated from one of these fake websites will send the Bitcoin to the scammers address. The QR codes are used to capture the data by mobile phone cameras, in this case to quickly share a Bitcoin address. The researchers added;

“These sites generate a QR code that encodes an address controlled by the scammers, instead of the one requested by the user, thus directing all payments for this QR code to the scammers. Scammers do not even bother with generating their fake QR themselves, instead they shamelessly call a blockchain explorer API to generate the QR for their address.”

It has been estimated that around $20,000 has been lost to QR code scams however that figure could be much higher.
Just like the copy/paste malware that infected computers a couple of years ago in order to alter Bitcoin addresses, this scam is just quicker version. There will be others and the misreporting that it is ‘furthering negative public perception around bitcoin and cryptocurrency’ is pure FUD. The internet itself is awash with scams yet look how adoption of that has gone.
The bottom line is common sense here, Google search results cannot be trusted, and neither can anything posted on Facebook. Both US tech giants have been the largest disseminators of scams and fake sites, most of which have given the crypto industry its bad name.
Of course there are bad actors out there, but we don’t need huge web monopolies broadcasting them while profiting off our personal data and searching habits. Stay safe out there.
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$10 Billion Flows Back into Crypto Markets Despite Binance FUD

Crypto markets surge $10 billion on Saturday; Bitcoin leading, Litecoin, EOS, XMR and NEO following, BNB sliding. 
Market Wrap
Despite a lot of FUD emanating from the US and their flailing relationship with crypto exchanges, markets have actually gained over the past 24 hours. Over $10 billion has flowed back into crypto assets as Bitcoin broke through resistance and pulled the rest of the market back up with it. Total capitalization is back over $270 billion again as we enter the weekend.
Bitcoin has surged over 5 percent to reach an intraday high just north of $8,700 a few hours ago. Resistance at $8,200 was smashed and the last 24 hours has seen BTC climb back to its highest level for 12 days. It has currently leveled out at new resistance just below $8,700, further gains could see Bitcoin reach $9k again soon.
Ethereum has been dragged up as expected but has only managed just below 4 percent to reach $265. The head and shoulders that formed on ETH yesterday did not play out as it predictably mirrored Bitcoin’s movements.
The top ten is largely in the green despite Binance and Bittrex shunning US customers for certain altcoin markets. Litecoin and EOS have gained over 4 percent each taking them to $136 and $6.72 respectively. BSV and BCH are around 3 percent up right now but Binance Coin is cooling off with a slide of 4 percent.
There is more green in the top twenty also as Monero and NEO make 5 percent each climbing to $94 and $13.70 respectively. The rest are relatively flat though with just minor gains on yesterday’s prices.
FOMO: KuCoin Shares Cranking
The top altcoin in the crypto top one hundred at the moment is KCS adding 16 percent to reach $1.50. The gain could be a result of US users moving from Binance and Bittrex into other exchanges as the fallout continues to affect lower cap altcoins. Nash Exchange has entered the top one hundred gaining 15 percent and Santiment Network Token is the only other double digit coin today.
There are no altcoins dumping hard this Saturday but those at the bottom of the pile are Waltonchain and Nano both dropping over 6 percent.
Total market cap 24 hours.
Total crypto market capitalization has surged $10 billion, or 3.8 percent, to $273 billion today. Bitcoin has been largely responsible for the market movement and its dominance has increased to 56.4 percent as a result. Total trade volume is up to $67 billion and the US customer clampdown does not seem to have impacted markets on a wider scale just yet.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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FUD Storm: Mainstream Media Back Bashing Bitcoin the Moment Markets Move

It only took a day for the Bitcoin bashers to emerge from their caves and start spreading fear, uncertainty and doubt again. After four months of inactivity crypto markets came alive again this week and headed upwards to reach new 2019 highs. This was enough it seems for the mainstream media dogs to start spewing their vitriol on crypto assets once again.
FUD Means They’re Paying Attention
When markets are on the floor and very little is going on, mainstream media tends to stay quiet. The fact that the ridiculous headlines are emerging again means that they’re paying attention at least and crypto is back in people’s minds. CNBC, which has been previously noted for its completely inaccurate predictions on market movements, was back with a headline claiming that cryptocurrencies will all collapse because one fund manager thinks so. According to Peter Mallouk, president of wealth management firm Creative Planning;
“What we’re going to see, most likely, is, we’re going to see cryptocurrencies collapse … there’s no way that even a fraction of them can survive,” before adding that buying crypto “you get no income. It’s not a real investment. It’s speculation.”
What he fails to acknowledge is that all investments are speculative; when you buy you are speculating that the price will be higher when you sell, whether it be a property, stock, or commodity. Crypto is no different and Bitcoin, until it is used daily for its intended purpose as decentralized money, will remain speculative. Those of a similar ilk such as CNBC’s Jim Cramer called Bitcoin monopoly money back in 2017.
As NewsBTC’s Joseph Young pointed out, the scene has been reminiscent of the headlines spouted during the 2017 bull run.

Even the headlines are back to 2017 crypto bull market
— Joseph Young (@iamjosephyoung) April 3, 2019

Fake Money, Fraud, Scam … Heard it All Before
Entertainment website Gizmodo went one better with a vitriolic rant the moment after Bitcoin broke resistance;
“To be clear, Bitcoin is absolutely worthless by any real measure. It’s fake money that’s about as practical to use in the real world as Monopoly bills … Bitcoin is little more than a speculator’s death cult at this point.”
The FUD did not stop there, even Bloomberg, which has been fairly balanced when it comes to the industry, jumped on the bandwagon of loathing as FUD headlines get traffic. Mocking the euphoria that many in the crypto world have been expressing recently, the article said “But have no fear of missing out: Whatever the explanation, there’s no good reason to turn bullish on crypto.”

Their dismissal is our opportunity$BTC
— Anil Lulla (@anildelphi) April 3, 2019

It added that there has been no good news for crypto lately and most of it has been bad, highlighting the recent exchange hacks. One wonders if Bloomberg would take the same stance on fiat currencies when major banks get caught laundering money.
The piece added that Bitcoin was a tiny market compared to forex with trading volumes of $5 trillion per day. Very true, so this alone should serve as a testament to the potential of digital currencies which the mainstream media still appears to be very afraid of.
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Why Does Mainstream Media Spread So Much Crypto FUD?

Just a couple of years ago finding a Bitcoin or crypto related news article in the mainstream media would have been a tough task. Today nearly every news outlet worth its salt is regularly running stories on crypto. According to a new study a lot of the industry heavyweights are throwing around a lot of fear, uncertainty and doubt, much of which is totally unfounded and superfluous.
Media Sentiment is Not Static
A new study by eSports company Clovr has revealed the ‘complicated and conflictual relationship’ between cryptocurrencies and publications that cover them. Following the rise and fall of the market over the past couple of years the study attempts to ascertain which publications have pushed a positive sentiment and which ones are fueled by FUD.
Looking back at 2017 the research noted that crypto coverage was rather limited and only peaked when prices plunged following bad news such as China’s trading and exchange ban. The year before, positive sentiment far outweighed negative, a ratio that changed in late 2017 when markets started to surge.
FUD was partly fueled by billionaires that had already made their money and possibly considered cryptocurrency a threat. The likes of Warren Buffett calling it ‘rat poison’, or Mark Cuban hammering away with his bubble comments, or Jamie Dimon calling it a fraud, added gasoline to the mainstream media fire.
As markets peaked and then fell in January 2018, mainstream media ramped up its FUD machine and more negative sentiment flooded out. According the study, the top purveyors of ‘bad news’ at the time included the Wall Street Journal, Reuters, Yahoo Finance, the International Business Times, and the Washington Post.
Media that appeals to a younger, more finance orientated audience unsurprisingly ran more positive articles on crypto, these included Forbes, Business Insider, CNN, Cnet, Mashable, and Huffpost. CNBC, whose tweets have found to have an effect,  has been pretty much ‘fair and balanced’ with a good dose of each and today still dedicates a lot of its airtime to crypto which is itself a testament to the growing industry.
Conservative media outlets have shown an overwhelming amount of distain for crypto and these include Breitbart, Fox News, and the Economist. All of which has run predominantly FUD based articles over the past few years. Publications with a more liberal skew have been pretty balanced, and finance or technology focused outlets more positive.
The report concluded that the coverage of Bitcoin and crypto has been far from static over the past five years. Some outlets have become more skeptical while others have become more bullish as crypto markets ebb and flow in cycles that they have already been through several times before.
The takeaway from the study is that most mainstream media publications have their own slant anyway so this will get pushed through in the articles they publish, be it FUD or FOMO. Just like social media, which can often be described as ‘digital pollution’, don’t take everything you read as gospel. Thorough research and not investing more than you can afford to lose are also worth bearing in mind when getting into crypto.
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Fake FUD Blamed For Market Slump, One Bitcoin Whale Proves Otherwise

Last week, after a slow grind up to its most recent peak of roughly $7,400, Bitcoin’s price plummeted over 20% in less than 48 hours. All signs had pointed to a slow, steady recovery for the cryptocurrency market, leaving investors shocked as recent gains evaporated before their eyes. This prompted the cryptocurrency community to do what they do best: speculate. Speculation ran wild, and internet sleuths discovered a wallet transaction trail leading back to a mysterious bitcoin whale that dumped a large sum of bitcoins on the market.
Reddit Goes Bitcoin Whale Watching
After much debate on Reddit and other social media platforms, users turned detectives discovered a cryptocurrency wallet dating back as far as 2011 was on the move. The Bitcoin whale’s original wallet at one point had 111,114 Bitcoins, but was distributed to a number of smaller sub-wallets over time. Reddit user u/sick_silk found that “at least 15,593 BTC,” worth over $100 million at the time of the selloff, was sent to wallets at Bitfinex and Binance – two of the world’s largest cryptocurrency exchanges by trading volume.
The coins were transferred between August 24 and September 2, just days prior to the massive sell-off on September 5 when Bitcoin’s price neared the current bear market downtrend line, plummeting over 20% in two days.
Bitcoin Blast From the Past: Mt. Gox or Silk Road?
Given the timing of the wallet original funding date of June 21, 2011, speculation led to the cryptocurrency community pointing fingers at two potential sources: defunct and hacked cryptocurrency exchange Mt. Gox, or a wallet potentially tied to convicted Silk Road head Ross Ulbricht.
Speculation suggests that the wallet could have been Mt. Gox trustees selling Bitcoins to pay back creditors. Mt. Gox trustee Nobuaki Kobayashi has reportedly been responsible for previous Bitcoin price declines at key peaks throughout the 2018 crypto bear market.
Another potential source could have been related to dark web drug den Silk Road. A BitcoinTalk forum post dating back to October 2013 noted on what was presumed to be a Silk Road related wallet that had around 111,114 BTC in it “with nothing spent.” 
However, it could just has easily been an early Bitcoin adopter frustrated with declining prices who finally decided to sell their holdings. Thanks to Bitcoin’s pseudo-anonymous design, the owner of the wallet may never been known.
Crypto Investor Over-Reaction to Media-Driven FUD
Per usual, shocked cryptocurrency speculators sought out news that they believed could coincide with, or may have been responsible for large price movements. In this case, that speculation was further fueled by mainstream media outlets reporting that the sell-off was due to the market’s reaction to Goldman Sachs reportedly delaying their cryptocurrency trading desk for the foreseeable future.
Neither the correlation or even the news itself turned out to be true. Goldman Sachs CFO Marty Chavez told TechCrunch while speaking at the recent Disrupt San Francisco Conference that the Goldman Sachs report was “fake news.” Later, the evidence of the Bitcoin whale was discovered, throwing a wrench in the theory that the sell-off was related to the Goldman Sachs non-event.
Charts further disprove the theory, showing that the Goldman Sachs false sell-off had occurred mid-way through this Bitcoin whale’s coin dump. This serves as a shining example of how cryptocurrency bear market has seemingly weakened the previously strong hands of cryptocurrency “hodlers,” who are too often overreacting to FUD-focused news from mainstream media.
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