What is Bitcoin Cash ABC and How to Claim It?

What is Bitcoin Cash ABC:

Bitcoin cash is a cryptocurrency that was created in August 2017, during the recent Bitcoin Cash chain split, from a fork of Bitcoin. It is the result of a Bitcoin hard fork.

Bitcoin Cash has increased the large block size, comparing to Bitcoin that allows more transactions to be processed, and improving scalability.

Bitcoin Cash ABC is referred to as Bitcoin Cash now.

How does it work?

It isn't basic to comprehend the complex fundamental innovation associated with Bitcoin in detail. For new users, Bitcoin is just a versatile application or PC program that gives individual Bitcoin addresses and permits a client to send and get bitcoins with them. This is the way Bitcoin works for most clients. In the background, the Bitcoin network shares a public record called the "blockchain".

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The realness of every exchange is secured by advanced marks that relate to the transportation addresses, so all clients have full authority over the sending of bitcoins from their Bitcoin addresses. Anybody can deal with exchanges utilizing the processing force of specific equipment and procure a prize in bitcoins for this assistance. This is frequently alluded to as "mining".

How to Split BCH / BCHA:

Splitting is just essential if you had a positive BCH balance on November fifteenth, 2020. On the off chance that you got either BCH or BCHA after that date, they are undoubtedly effectively part.

1.Receive another store into your BCH wallet of BCH that is as of now split. Any worth will work, regardless of how little. The most straightforward route is to get BCH from a trade. If you are clearing unsplit BCH from a paper wallet, you should in any case get part BCH from elsewhere before moving to stage 2.

2.After the exchange from (1) is affirmed, open the BCH wallet and duplicate your present BCH "get" address.

3.On that equivalent BCH wallet, go to the "send" area and send your full BCH equilibrium to it.

4.This ought to be sufficient for your coins to be part. This cycle just must be done once. After your coins are part, they are part everlastingly, and further stores you get will likewise in all likelihood as of now be part.

How to claim Bitcoin ABC:

On the off chance that you were in control of Bitcoin tokens before August 2017 when the Bitcoin Cash hard fork occurred, you are qualified to get a similar measure of tokens in BTH. The strategies for asserting your free Bitcoin Cash tokens will differ contingent upon the sort of wallet you use.

In case you're utilizing a full hub wallet, is a wallet that expects you to download the whole Blockchain you should simply back it up into a wallet. Whenever it's done, essentially import it into a full hub Bitcoin Cash wallet, like Bitcoin ABC, where your BCH tokens will be accessible to you.

How to get Bitcoin Cash Fork:

If you’re registered with a cryptocurrency exchange that supports Bitcoin Cash, it will automatically provide a wallet for you. It is the safety of your tokens and recommended to you to store them in a different wallet. Before start trading or mining Bitcoin Cash, you need to store it in a wallet. This is because trades that give wallet benefits are in control of your private keys and, likewise, your assets.

Also, there have been a ton of occurrences of trades getting hacked and losing their clients' assets without having the option to repay them, and even just closing down and fleeing with the clients' cash.

The Bitcoin Cash organization, a consequence of a hard fork from Bitcoin, has part into two new blockchains, once more. At press time, Bitcoin Cash ABC (BCH ABC) has gotten no hash power, implying that it is conceivable Bitcoin Cash Node (BCHN) will turn into the prevailing programming of the Bitcoin Cash organization, as indicated by information from Coin.

November 2020 BCH Hard Fork:

The Bitcoin Cash (BCH) network hard forks as a component of planned convention updates. The following BCH hard fork is booked for Nov 15, 2020.

Not at all like past BCH hard forks, there is a contending suggestion that isn't viable with this distributed guide Coin base will run BCHN hubs and expects that it will be the prevailing chain post-fork. Coinable won't uphold the withdrawals of BCH ABC after the overhaul.

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Coinbase will screen the hard fork cycle and work to limit client disturbance until the organization fulfills Coinbase security guidelines. Kindly be certain all BCH sends and gets are finished preceding that time. During the delay, your BCH will remain got in your Coinbase account. Coinbase can't anticipate the term of this overhaul interaction. When the update is finished, we'll assess the organization and make the suitable next strides, including re-empowering sends and gets.

Note: Any BCH ABC sent after the fork will be treated as an unsupported resource and in this way irretrievable.

Bitcoin Cash likewise does not have a characterized administration convention. While other cryptographic forms of money, like Dash and VeChain, have improved and laid out itemized administration conventions that allot casting ballot rights, the turn of events, and plan of Bitcoin Cash appear to be incorporated with its advancement teams 16. As such, it is muddled with financial backers without considerable property of the digital currency have cast a ballot right or a say in the cryptographic money future bearing.

How to invest in Bitcoin?

One of the biggest advantages of investing in digital currencies is the possibility of trading in 24/7 system, which allows to monitor the market at any moment. Bitcoin is ideal for speculation and investment, because of its great popularity. Investors of the digital currency should follow the changes in the law, political and economic events, and technology achievements worldwide - they have a large influence on the Bitcoin value. The most profitable means of investing in Bitcoin is investing with top cryptocurrency companies, Cce-Asia.com is a highly recommended company for that. With a minimum of $50 you can start up investing in cryptocurrencies with cce-Asia.com.

GET protocol puts an end to ticket scalping and more - in my opinion the most undervalued crypto project

Website: https://get-protocol.io
Artists who use GET
GET explainer video
Tradeable on: https://uniswap.info/token/0x8a854288a5976036a725879164ca3e91d30c6a1b

In my humble opinion GET protocol is the most undervalued crypto project when it comes to fundamentals, adoption, tokenomics and potential. Let me explain why:

GET protocol solves an enormous problem: ticket scalping

I think we're all tired of the practices in the ticketing space: bots buy up tickets instantly and then resell them 2x, 5x, 10x or even more the original ticket price. Fans lose, artists lose, venues lose, ... while the money ends up in the pocket of scalpers who don't add any value to the process.

The secondary ticketing market is worth $15 billion. How long will fans have to pay?

GET protocol elminates ticket scalping by linking the ticket to your mobile phone. This means that at entry to a concert, sports game, ... you are only permitted entry with your mobile phone.

They have sold over 600k tickets and not one was "scalped"

An example is famous Dutch artist Jochem Myjer who uses GET protocol integrator GUTS tickets:

https://twitter.com/jochemmyjer/status/1118589335060848641

“Weird how some venues still don’t get how great GUTS is. And are afraid of change. It’s easier for the audience. For artists there is no more reselling. And maaaany other advantages. #GoWithTheTimes”

The ticketing space is one where no one trusts another in terms of how many tickets were issued, what the original price was, ... It has been proven that even Ticketmaster themselves are involved in the scalping business. That's why blockchain is vital in all of this. The tickets are all registered on the blockchain as a mean of transparency and accountability. This means that fans can check ticket authenticity whenever they want and make sure that they aren't being taken for a ride.

Besides scalping it offers many more advantages to integrators:

• Interaction with the ticket holders
• Extra marketing tools
• Data collection
• Dynamic price setting
• Merging of the primary and secondary market
• ...

GET protocol has a lot of adoption

As stated above, GUTS has sold 600k tickets using GET protocol. In the meanwhile more ticketing companies have started using it:

GUTS

Runs fully on the GET protocol and has sold over 600.000 tickets. Has grown into the biggest ticketeer in the Netherlands.
https://guts.tickets

ITIX

Established in 2009 and sells 2 million tickets/year. Is fully integrated in the GET protocol and will start selling GET-fueled tickets soon.
https://www.itix.nl

getTicket

A new ticketing company in South Korea that will run fully on the GET protocol. They already have deals with kpop stars to sell tickets for.
http://getticket.kr

TecTix

A Germany based ticketing company that will sell GET fueled tickets with a focus on the sports industry.
https://tec-tix.com

Wicket

The last to join is an Italian ticketing company. Despite being new they have already ticketed the Milano Wine festival in 2020 and will do so in 2021 as well. In 2019 this festival atracted more than 300.000 visitors.
https://www.wicketevents.com

Integrating an existing ticketing company is a low investment move (only the GET token is needed) that offers traditional ticketing companies several benefits. With the whitelabel that has just been released, which makes it easy for any ticketing company to start using GET, I expect many ticketing companies to integrate and GET to scale quickly.

Here are the requests they had received by end of 2019:

https://miro.medium.com/max/700/1*qeaWLY0t8M_8PwFrpU1ojg.jpeg

GET tokenomics

The GET tokenomics are built so that for every ticket issued 0,28€ (or 0,34$) worth of GET is needed by the ticketeers. They buy most of this from exchanges and a minority they get subsidized from the User Grotwh Fund. In 2020 around 70% was bought directly from exchanges.

In 2020 ticketing volume in general was down like 90–99% due to corona. Yet GET managed to sell over 236k tickets. Or an increase of 27% compared to 2019.

This is a major indicator of their usecase being needed: despite covid19 they grew a lot and conquered a lot of marketshare from traditional ticketeers.

Tokenomics to push the price

If GUTS was able to sell 236k tickets in a year where ticketing volume is down at least 90% then I think it’s safe to assume that they’ll sell over 3 million tickets/year once everything is allowed again.

Add the new ticketing companies that integrated GET recently (getticket in Korea, Wicket Events in Italy and Tectix in Germany) and you’ll understand that we’ll be seeing millions of tickets processed by the GET protocol.

I’m willing to bet that we’ll see at least 5 million tickets in 2022:

5 million \ 0,28 * 0,7 = €980.000 in buybacks or around 1,2 million $*

You can imagine what buybacks of 100k $ each month will do to such a smallcap, especialy considering that all this bought GET is burned after usage.

If the price would remain stable we’d see 5 million GET burned, or 25% of the entire supply (SF of 13 million will be burned soon anyway as it isn’t used so I don’t consider that as supply).

Of course the price will not remain stable as with such an increase in buybacks & burns, GET will be recognised as truely deflationary through real world usage.

NFT tickets that will revolutionise ticketing

As of this month all tickets issued by the GET protocol will become NFT’s

Over 60.000 sold tickets (that haven’t ben scanned yet for the event) will be minted as NFT’s this month. This means that tickets, after scanning can become collectables. But so much more:

Here's my take on why GET protocol's smart and blockchain registered tickets becoming NFT's will revolutionize the ticketing industry.

After the DeFi hype we’ve witnessed last year, the next hype in crypto that seems to be developing are NFT’s. In this case it isn’t about riding the hype. Tickets being NFT’s on the blockchain really makes sense and it will change ticketing as we know it. Let me explain…

So what’s a NFT exactly? NFT stands for non fungible token. This is a token that’s unique on the blockchain and not mutually interchangeable. This in contrast to for example Bitcoin where it doesn’t matter which Bitcoin you have (1 BTC = 1 BTC). Every ticket issued by the GET protocol will become a getNFT.

Image explaining GET NFT's

getNFTs are indivisible, meaning that a getNFT can only be held by 1 address at the same time. This ensures that whoever owns a certain NFT will be the only one to decrypt the QR code.

Eventhough GET’s NFT’s will be the most used, bought & traded NFT’s in the crypto space the goal isn’t to ride the hype. Ticketing + NFT = a match made in heaven. And here’s why:

As every ticket on the blockchain will become a NFT and thus unqiue, it will allow non custodial ownership of the ticket asset. This gives many interesting advantages but 2 stand out for me personally: P2P ticket trading & DeFi event financing.

P2P ticket trading
NFT’s will allow P2P ticket trading and GET’s almost done building it! Peer to peer ticket trading means that everyone who owns a getNFT ticket will be able to trade it with another “peer”. This will happen in a closed and regulated ecosystem. This means that certain rules can be set by the event organizer. For example:

• The ticket can be sold for only x% profit
• x% of the trade profit goes to the event organizer
• a certain trading fee goes to the event organizer
• …

This will be the first and only ticketing system that will allow ticket trading while at the same time making scalping impossible. Regulators have been struggling for a long time to solve this problem and what seemed impossible to achieve will be made possible by smart contracts! The impact of this will be huge and will change the ticketing space for the better.Additionally and not unimportantly it will give the event organizer an extra revenue stream. The money that right now for a large part goes to scalpers (the secondary ticket market is worth $15B) will be tapped into by the event organizers.

Why this is important

The advantage for GET holders is twofold:

1. The P2P market will atract more users (artists, venues, ticketing companies) of the GET protocol (= more GET needed in the primary market)
2. every ticket exchanged in the secondary market is an additional statechange (= more GET needed)

Event financing
Without a doubt one of the most promising and exciting things to look forward to in 2021 is the introduction of decentralized event financing to GET Protocol.Event organizers often struggle to get financing for their events. This doesn’t only apply to starting artists, but even to famous stars. The artists need to have a lot of capital in advance as they have to pay for the venues, organisation, … upfront while only receiving the money after the show is over. Enter GET’s DeFi solution!

The pre-financing of events for event-organizers is not a solution looking for a problem; it’s a widely known and used tool that enables event organizers to make the investments needed to get their shows or festivals off the ground.In the past we have encountered Event Organizers who select their ticketing partner solely based on the amount of money and loan conditions that they are offered up front.

Thanks to getNFT tickets you’ll be able to pre-finance events of your choice. You can choose to finance new artists (more risk/more APY) or established kpop stars (less risk/less APY).

This is how it will work:

The technical side of event financing

If the concept seems complicated, here’s what you need to understand about GET’s decentralized financing solution:1.) Event organizers will be able to easily pre-finance their events. (Something they desperately crave.)2.) Investors will be able to invest in events of their choice, at a risk & reward level that they feel comfortable with.3.) The $GET token is an integral part of the financing process, as it is required for ‘skin in the game’ from

The advantage event financing for GET token holders will bring is again twofold:

1. As a GET holder you’ll be able to finance events and share in the profit of the ticket sales. This means that GET will allow you to profit without selling = passive income. An important note is that this is profit without inflation. While other DeFi projects give you returns by increasing the supply (and thus decreasing the value of the token) the returns here will not increase the GET supply, as the returns come from real profit(ticket sales).
2. As the GET token will be an integral part of this process, it will:- increase the buy pressure of the GET token (everyone who wants to participate will need GET)- decrease the supply (everyone who participates will have to locks his GET tokens).

For a deeper insight I recommend the blog below:

https://medium.com/get-protocol/decentralizing-event-financing-liquidity-x-defi-x-nfts-975f028135f5

GET protocol will be decentralised

The endgoal of the GET protocol is to become open source and decentralised. There will be a governance model where changes to the protocol will be determined by GET token holders. That’s why I expect ticketing companies to acquire a lot of GET in time as their revenue relies on the direction of the protocol.

Can't trust Nexo with my funds, withdrew everything of value

I've joined Nexo since 3 months where I've put 4 BTC to earn those juicy interests.

I was really happy as interests were paid in NEXO which greatly appreciated over those 3 months.

Then, the following events arrived, in that order :

• The recent topics about the shit hitting the fan with the Nexo automated ORACLE, which sold users cryptos as ETC tanked to ~700 on Kraken

  • Don't get me started about why they would have sold some users Bitcoins as well ?
  • Why their so-called Oracle relies on only one exchange price to calculate LTV ?
  • This is at this moment I knew something was up and that I couldn't trust them with my money ; withdrew 4 BTC to my cold wallet
  • I did withdrew because I felt that if too many users were impacted, Nexo HAD to buy back those cryptos at spot price, which could really impact their finances
  • Too many users thinking like me could end up in a bank run ; hot wallet would need to be replenished in a time where their operational team is busy dealing with this collateral liquidation mess
  • No visible PR communication on their website nor the platform ; only posts on Telegram and Reddit.

• My withdraw was stuck in the mempool for more than 24 hours ; guess what, Nexo isn't even able to adjust their transaction fee dynamically. As the BTC price tanked in the last days, transaction activity went up as well as the mempool size.

  • I knew this is no big deal ; Nexo always had the choice to RBF or CPFP the transaction and bump the fee ; however I've read on this sub that their ticketing system is overloaded and chat people told other fellows to "wait for the technical team to look into it"
  • I hope they understand that a ~200 000 USD transaction can't be stuck for more than 24 hours without any reassuring process for the user (the 4 BTC disappeared from my account, transaction was only showed as "sent" in the transaction history of Nexo)

• People complaining about the app / website being slow, crashed, interest payment not showing up on time..

• Nexo mods removing my original post ; are pragmatic facts too hurtful to hear ? Your shady tactic only comforted me in my choice to never entrust Nexo with my money.

Maybe in the future, competitors will be under the very same issue. In the mean time, I have a weird feeling of a business ran by amateurs.

This is a very competitive and crowded space. Don't get (trivial) technical issues get in the way or your competitors WILL steal your hard earned market shares !

Here is a screenshot of the original post, which was removed by the mods.

https://preview.redd.it/92fx5rxeaej61.png?width=728&format=png&auto=webp&s=51305aff448cd1467fe9caf8b94251665e310b0d

Top 10 Blockchain Development Companies Edmonton

Although the beginnings of the ‘blockchain’ are linked to the emergence of crypto-currencies like ‘bitcoin’, the truth is that this technology has spread to different economic sectors. Contrary to what some think, blockchain technology is not just a database, but a set of technologies that allow the transfer of value or asset from one place to another, without the intervention of third parties.

In this sense, the ‘blockchain technology‘ proposes a new model in which authenticity is not verified by a third party but by the network of nodes (computers connected to the network) participating in ‘blockchain’. Hence, no transfer of value (be it money or another asset that has some kind of value) is done through an intermediary, but through a consensus, allowing the information to be stored transparently at all times.

How does it work?

As the name implies, ‘blockchain’ is a blockchain, which contains information encoded from a transaction on the network. And, being intertwined (hence the word string), they allow the transfer of data (or value) with a fairly secure coding through the use of cryptography. To illustrate this idea, it would be convenient to imagine an accounting book where all the entries and exits of money are recorded.

What is truly novel is that the transfer does not require a third party to certify the information, but is distributed in multiple independent and equal nodes that examine and validate it without the need for them to know each other. Once entered, the information cannot be deleted, only new information can be added, since the blocks are connected to each other through cryptographic encryption, so modifying data from a block prior to the chain is impossible since it. I would have to modify the information in the previous blocks.

What Applications do you have?

Blockchain technology has transformed processes in different economic, scientific and other fields. In fact, there are platforms that use ‘blockchain’ technology to make the supply chain of the products we eat visible, managing to follow the path that the food travels from when it leaves a crop until it reaches our table.

Electoral processes can also benefit through blockchain technology since the use of decentralized accounting for vote counting can be a good option to overcome the failures of existing audit systems in elections. In Colombia, the possibility of using this type of technology to systematize property titles or to validate studies abroad has already been studied.

How did it come about?

Three elements influenced the emergence and ague of ‘blockchain. The first is the loss of trust since any intermediary between two people occurs due to a lack of trust between the parties involved, who need a third party to perform any transaction or transfer of value. Indeed, Satoshi Nakamoto talks about this aspect, in the ‘Bitcoin White Card’ that would begin the use of cryptocurrencies: the first case – and best known so far – of the use of ‘blockchain’ technology.

Secondly, the birth promoted by the ‘cyberpunks’ was also a relevant event for the birth of ‘blockchain’. Due to the lack of privacy and unsafe communications, in addition to the release of asymmetric encryption thanks to the first widely used encryption software, the movement that defends freedom of expression and resistance to the loss of user privacy was created in the digital age

Finally, considered as the key element of blockchain technology, cryptography helps the shared information, in the aforementioned blockchain, appear in an encrypted format by large computer networks, to protect it more effectively.

Where is Blockchain Technology going?

Now, it is common to hear terms such as smart contracts and ‘DApps’ (decentralized applications), which are constituted as new ways of using the blockchain.

However, the ‘blockchain’ ecosystem continues to be constantly growing, this is what Michael Sim, an expert at Blockchain Academy Edmonton, who attended Open Talks 2019 agrees. “The true potential of blockchain will be seen as progress is being made in the understanding and adoption of this technology,” he said. Without a doubt, as technology continues to grow, it will be interesting to see how new business ideas will lead the way towards more reliable processes.

If you are looking for a glitch free development, try out one of the agencies from our list of top 10 blockchain development companies in Edmonton.

AppStudio

Appstudio is a full service Mobile App Design & Development Company offering services in Native iOS Development (Swift 5.1), Native Android Development (Java and Kotlin), React Native Development, Software Development & Unity Game Development. They have collaborated with Fortune 500 companies, Startups and Mid Sized firms across a spectrum of industries, ranging from Health Care & Finance to On-Demand Services, to create Mobile apps that are actively being used by Millions of users across the globe.

Zazz.io

Zazz is a team of creative designers and developers building great digital products in Seattle and San Francisco. Our collective experience in the technology industry includes mobile app development, IOT application development, blockchain development with a design first approach to product development.

Talentica Software India Pvt. Ltd

Talentica Software is an innovative outsourced product development company that helps startups build their own products.We help technology companies transform their ideas into successful products by partnering in their roadmap from pre-funded startups to a profitable acquisition.

IBM iX

IBM iX is a technologic company bringing innovative and progressive ideas through the use of IBM Design Thinking – not just for design but for the solving of business problems. We build mastery in all the emerging technologies of today in a landscape that is constantly changing. Our difference goes beyond our knowledge of technology, it lies in the application of that technology to solve business problems. We are your global business design partner.

PixelPlex

PixelPlex is an award-winning software development company. With offices across the globe and over 100 carefully vetted specialists on hand, we have successfully served more than 300 businesses of all sizes. We combine backgrounds in blockchain, artificial intelligence, big data, IoT, cybersecurity, and cloud development with cutting-edge web and mobile technologies to create groundbreaking solutions that are used by millions of people around the world.

Aplana Software Services

Aplana Software Services - We were one of the first custom software development companies to transfer a client’s business to the cloud, making it available to thousands of end-users. Today we continue to innovate and pioneer the use of new platforms and tools. Aplana has unique expertise in complex cloud solutions; custom software, mobile, blockchain development; big data analytics.

Look4App

Look4App is a Polish software house that delivers cutting-edge blockchain and web development projects. With a strong fintech background and eye for exceptional design, we are up for your challenge. tomasz.keczkowski@l4a-soft.com

Espeo Software

Espeo Software - Espeo is a digital consultancy with a strong international presence. Born in Finland and headquartered in Poland, we’ve built an international team that values transparent communication, efficiency, and craftsmanship. Our expert team builds and designs custom web and mobile applications to keep our clients on the cutting edge.

ArcTouch

We design lovable apps and develop technology for the connected world. Expertise: mobile & voice apps, blockchain, IoT smart products Services: strategy, UX/UI design, engineering, QA, support

S-PRO

S-PRO provides cross-platform mobile application development and custom software development ranging from analytics and consulting to launch. Serving as a platform for launching new innovative products, S-PRO is an ecosystem player. Our staff are first-class technology geeks, yet we have a unique business-focused approach. We collaborate with customers considering their business goals.

Source: https://www.appstudio.ca/blog/top-10-blockchain-development-companies-edmonton/

Possible Forex scam - help needed

Hi,

I need advice on the possible Forex scam. It all started in early November, when I was contacted by a guy claiming to be the representative of fxmarketsgroup.com. I was skeptical at first, but the guy knew my e-mail address (somehow, I can't remember even visiting that page). Sure, I was interested in investing, but not Forex specifically and I don't leave my e-mail addresses hanging anywhere.

So the guy kept calling and informing me about a multitude of financial events that can be invested in, and experiences that he had with other clients. I got convinced, and I agreed to this. He said I can invest in different kind of instruments, currency pairs, gold etc - all of which was totally new for me, but the webpage looked convincing.

He then ordered me to put up the account on their page and make a deposit. Not long after, I was contacted by another guy, the "platform manager" who was assigned to my account. He showed me how to use the platform, though this was really just provisional as he only told me how to open positions and close them, and how to (more or less) read the diagrams, no word about anything else, and there is much, much more to these trading platforms than that, such as "take gain" or "cut losses".

The deposit was in BitCoin (which I didn't understand because the webpage had a deposit interface) and then they just transfered the amount I paid for that small bit of BitCoin in EUR to my trading account, which was not demo, but... Live!

Obviously, I was so overwhelmed I didn't see the problem. It was only after the things started to go wrong (notably, I had considerable losses on my positions) that I started to question everything. The guy said I have to invest more to improve the security level of the account, or else it will close if it drops below 30% - and it could, because their campany would give you credit resources that you could use as a reward, but if they decided an account was dangerous, they could withdraw it and you would be left with nothing, basically.

Since I wanted to benefit from this and doubled the amount I invested, I invested another 1000 EUR. Only to be told by that guy that it was not enough and I have to invest another 1000. I turned off my phone and managed the account myself, managing the resources and ultimately saving the entirety of the account.

Then I turned the phone back on only to be contacted by that furious platform manager who said I'm unprofessional and etc. I came up with trading strategy and I followed it strictly, until the guy recommended me three disastrous positions which led me to ruin and made me lose almost everything. He said, obviously, that the way out of this is more deposit, and more account security. I didn't have that money, so I decided to cut losses. The guy shouted at me that I shouldn't have decided to invest if I didn't have means to protect what I earned, to which I said the person that engaged me into this knew that and they didn't have a problem with that. After I stated firmly I will not deposit, the guy calmed down and told me to wait few days, because maybe the situation turns around. In the end, the situation was bad enough I closed all these lossy positions and requested the withdrawal of what was left, which was not much, but still, I had the right to it.

Yesterday though, another guy contacted me and said I qualify for the guarantee fund, but there were two conditions - I have to pay 1100 EUR more and make 8 small transactions on "safe markets". Apparently this is supposed to be an anti-money laundering practice, that's what he said. To a question why I can't withdraw what was left, he didn't respond clearly. Only babbling something about fines that could be put on them by European Union and that I might be persecuted for that too, even though it was me who suffered losses. The guy babbled something which sounded like I have to lose everything I invested for them to be clear! Then he said I made a mistake investing into currency pairs and I should have headed into companies instead. In general, they all made it look like everything that occured was my fault.

Then I started to search for advice, because I started to have serious doubts, and then noticed that all this is very common for the scam.

So what should I do? Should I fight for what was left? How should I communicate with these bastards?

I should also mention they call from multiple numbers from different countries, and google does not index them. They also appeared on ForexRev website as fake broker.

All advices and opinions pretty much welcome. I am sick to death dealing with them :(

Can't trust Nexo with my funds, withdrew everything of value

I've joined Nexo since 3 months where I've put 4 BTC to earn those juicy interests.

I was really happy as interests were paid in NEXO which greatly appreciated over those 3 months.

The, the following events arrived, in that order :

• The recent topics about the shit hitting the fan with the Nexo automated ORACLE, which sold users cryptos as ETC tanked to ~700 on Kraken
  • Don't get me started about why they would have sold some users Bitcoins as well ?
  • Why their so-called Oracle relies on only one exchange price to calculate LTV ?
  • This is at this moment I knew something was up and that I couldn't trust them with my money ; withdrew 4 BTC to my cold wallet
  • I did withdrew because I felt that if too many users were impacted, Nexo HAD to buy back those cryptos at spot price, which could really impact their finances
  • Too many users thinking like me could end up in a bank run ; hot wallet would need to be replenished in a time where their operational team is busy dealing with this collateral liquidation mess
  • No visible PR communication on their website nor the platform ; only posts on Telegram and Reddit.
• My withdraw was stuck in the mempool for more than 24 hours ; guess what, Nexo isn't even able to adjust their transaction fee dynamically. As the BTC price tanked in the last days, transaction activity went up as well as the mempool size.
  • I knew this is no big deal ; Nexo always had the choice to RBF or CPFP the transaction and bump the fee ; however I've read on this sub that their ticketing system is overloaded and chat people told other fellows to "wait for the technical team to look into it"
• People complaining about the app / website being slow, crashed

Maybe in the future, competitors will be under the very same issue. In the mean time, I have a weird feeling of a business ran by amateurs.

This is a very competitive and crowded space. Don't get (trivial) technical issues get in the way or your competitors WILL steal your hard earned market shares !