The Raven's Dispatch

The Raven’s Dispatch – Elon Musk hackers strike again – Dec 4, 2018

No Elon is not giving away Bitcoin, but he is getting high

Elon Musk high

“psssst hey man, Elon musk here. You want some free bitcoin..No? How bout some Ethereum, I got the good stuff..none of that ETC crap. All you gotta do is send is send me BTC and I’ll send you back more”…….

You gotta hand it to hackers, they are creative. According to reports, hackers involved in the Elon Musk crypto scam have made a comeback. This time, however, they are using spoof version of popular websites. This is a well planned and executed attack so be sure you are on the look out. And if Donald Trump reaches out to you offering Bitcoin, cordially tell him to eff off.

The overall cryptocurrency market only lightly power bombed us dropping from $131bln to $125bln representing a single digit drop of 5% in the past week. Look at what we’ve come to my friends, finding relief in single digit drops. /sigh

Livecoinwatch
Livecoinwatch.com

For a more detailed price analysis check out our weekly piece Cryptocurrency markets weekly analysis.

WHAT’S NEW AT CRYPTO IS COMING

When to Buy Bitcoin: A Guide to Stacking Satoshis – When it comes to investing in Bitcoin, there are a couple of popular strategies to follow. In the end, you may find that a combination works best for you.

Leading Indian Business School Uses Blockchain For Certificates – A leading Indian business school has issued over 1,000 certificates to students using blockchain technology. The certificates are live on the Ethereum blockchain, for authentication for prospective employers or other organizations.

Elon Musk Hackers Are Back With A Different Scam Strategy – Hackers are using spoof version of popular websites to show pop up ads that are claiming to give free Bitcoin and Ethereum.

Ohio Loves Bitcoin And Blockchain – Startup invests millions into blockchain – Ohio startup accelerators seek to attract blockchain companies by offering millions in funds, hoping that it will revitalize neighborhoods that need it the most.

Interview With Cryptocurrency Analyst Murad Mahmudov – To get a unique, expert insight into the current state of the cryptocurrency space, CryptoIsComing spoke to Princeton graduate Murad Mahmudov, a cryptocurrency analyst, economist, and angel investor working in crypto.

ICO Venture, Evion, shut down by Swiss Court – The cantonal court of Zug Switzerland has shut down cryptocurrency mining firm Envion AG for an allegedly floating an unauthorized Initial Coin Offering (ICO).

Andreessen Horowitz-backed Harbor Launches Tokenized Securities Platform With $20M Sale – Recently, Harbor, a blockchain startup focused on tokenizing securities, such as real estate, fine art or private equity, launched its initial offering – the sale of a $20 million students dorm near the University of South Carolina.

Hardware Wallet Review: Trezor Model T vs Nano Ledger S – You really can’t be too careful when it comes to storing cryptocurrencies. One of the main ideas behind the crypto movement is individual financial freedom and responsibility. Of course, freedom and responsibility are a two-way street, aren’t they?

CRYPTOCURRENCY NEWS FROM AROUND THE INTERNET

Bitcoin is down more than 80% from last year’s high, nearing its worst-ever bear market – O’ Rly? The last time we had a crypto winter like this? 2010.

Nasdaq Plans to Pursue Bitcoin Futures Despite Plunging Prices, Sources Say – Nasdaq Inc. is moving ahead with a plan to list Bitcoin futures, according to two people familiar with the matter, betting on sustained interest despite the cryptocurrency’s dramatic plunge over the past year.

Behind Coinbase’s quiet roll-out of OTC crypto trading this month – Bet ya didn’t see that coming. Me neither.

Crypto Exchange Giant Binance Creates Combined Stablecoin Market – Binance, which is the top exchange by volume – doing nearly twice the 24-hour volume of its nearest competitor at time of writing – has announced that it is creating a new unified stablecoin market.

SEC Fines Floyd Mayweather And DJ Khaled For Illegally Promoting A Fraudulent ICO – The SEC has fined two celebrities for failing to disclose payments they received for promoting initial coin offerings (ICOs).

American Tech Giant Intel Files New Patent for Energy-Efficient Bitcoin Mining – U.S. technology giant Intel has filed a new patent for “energy-efficient high-performance Bitcoin mining,” according to a U.S. Patent and Trademark Office (USPTO) filing published Nov. 27.

r/Bitcoin reaches 1 million subscribers on Reddit – Now if only we could get 5,000 newsletter subscribers…mmmmmmm

rBitcoin 1mil

Homeland Security Wants to Track Your Privacy Coins – The effing feds. Am i rite? The U.S. Department of Homeland Security wants to know whether there is a way to track privacy coins that could be used for criminal activity.

Binance’s future plan: Binance Chain that hosts millions token creation – Binance’s CEO, Chang Peng Zhao, or more familiar as CZ revealed his company future plans to support the development of blockchain technology.

Thanks for joining us this week! If you have something interesting you would like to submit reach out to us at info@cryptoiscoming.com. And don’t forget, Crypto is Coming!

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Hardware Wallet Review: Trezor Model T vs Nano Ledger S

You really can’t be too careful when it comes to storing cryptocurrencies. One of the main ideas behind the crypto movement is individual financial freedom and responsibility. Of course, freedom and responsibility are a two-way street, aren’t they?

With cryptocurrency, you’re free to send funds to who you want, when you want, with no online banking agent looking over your shoulder to supervise or take a cut. However, that means if you lose your funds, there are no support staff to help you out. Your money, your problem, and it’s all too easy to lose money to theft or lost passwords.

hardware wallets are a good solution, allowing users to store their funds on a physical device that also has a backup seed phrase in case the device gets lost, adding an extra layer of security. The wallets keep funds offline and in “cold storage,” meaning they can’t be remotely accessed.

The two main contenders for best wallet are the Trezor and Nano Ledger S – but which one’s better?

Trezor

Supported cryptocurrencies: Over 500
Amount of currencies stored simultaneously: 
No limit
Price: $170

Trezor supports the most amount of cryptocurrencies by a huge margin, although it’s missing some high-cap tokens at the same time. The supported currencies are the main distinguishing characteristics between the two devices, but they each have their own unique features as well.

The Trezor Model T is a touchscreen device with multiple security layers. A PIN is required to start with, then a passphrase, and device recovery is also available as is 2FA (2 factor authentication such as requiring the user to enter a code sent to them separately by phone or email). Other security features include GPG encryption, SSH encryption, a password manager, and support.

Ledger Nano S

Supported cryptocurrencies: 41
Amount different currencies stored simultaneously: About 5, depending on which ones
Price: $99

The Ledger Nano S supports 41 currencies, several hundred fewer than the Trezor, which seems like quite a disadvantage. It can also only store 4 or 5 at a time while Trezor can potentially store hundreds at a time. However, it’s worth pointing out that the Ledger Nano S supports Ripple, Stellar, and Monero, while the Trezor doesn’t, which might give Ledger the advantage for certain users.

The Ledger isn’t a touchscreen and uses buttons instead. Security features include a PIN-protected chip a secure PIN-protected chip which stores private keys, and BOLOs which are individual shields around each individual app on your device, a novel and highly-secure and supposedly tamper-proof method of safeguarding the data within.

Comparison

Both devices are compatible with software wallets like MyEtherWallet and MyCrypto. Seemingly the Ledger Nano S is easier to set up than the Trezor which has a more time-consuming setup process.

All things said and done, there are two main differences here:

First off, the Trezor is notably more expensive than the Ledger Nano S which is a major factor. Trezor actually has an older model available for $80 which doesn’t feature a touchscreen, and that may appeal to some users who want to avail of the hundreds of cryptocurrency storage options Trezor has to offer on both models, which is, of course, the second major difference.

The limited storage on the Ledger Nano S is a downside, but then again the options of currencies like Monero and Rippple may appeal to manyy users. At the end of the day, it comes down to which device appeals the most and suits your individual needs – both devices have good reputations for being secure and from trustworthy companies, and it’s good that the community has options in terms of price and currency selection when it comes down to the all-important task of keeping those crypto funds safe.

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Interested in other cool crypto content? Check out Weekly Cryptocurrency markets analysis: November 19 to November 25 and Hardware Wallet Review: Trezor Model T vs Nano Ledger S

Fake “One-To-One” Trezor Wallet Copies Flood the Market

On Nov. 19th, Satoshi Labs, the company behind the hardware cryptocurrency wallet Trezor, published their insight into new illegal activities involving the theft of cryptocurrencies from unsuspecting victims. According to the intel, criminals are distributing “one-to-one copy of Trezor One” and using them to steal the digital assets of those people.

The fake copies, as outlined in the article, are trying to “replicate the original to the bone.” This makes it hard to differentiate between the original and the fraudulent one. To put it simply, “It is not dissimilar to counterfeit brand clothing.”

Just as counterfeit brand clothing is distributed, so is the Trezor wallet. It might appear to be with a decent discount. This, by itself, should raise the alarm about the merchant, the product and their reliability. They also come with a fake holographic seal. If a customer gets their hands on a fake device, they should contact the support of the website to investigate the case further.

SatoshiLabs advise all interested in purchasing to head to the official Trezor website and find a convenient authorized reseller. This will ensure that you get the real product and limits the possibility of exposure to thieves.

What is the Trezor wallet?

The Trezor One and Trezor Model T are leading hardware wallets designed to ensure the safety of your digital assets, keys, and passwords. The company behind the products is run by the renowned crypto experts — Slush and Stick. It runs on a completely open-source firmware and is open for development.

The Trezor Model T was released more recently, and it features much greater functionality. Its firmware and hardware are designed with the intent of expanding its functionality over time as well as introducing support for a lot of new digital assets. On the side of the Trezor wallet, there is a Micro-SD card slot for data encryption. As of now, both hardware wallets can store over 500 different cryptocurrencies.

The device itself is slightly bigger than the Trezor One, but it is to be expected with the more powerful tech inside it. On the bottom of the device, you can find a USB-C type connector and touchscreen display on the front. With it, you can easily operate the device as compared to the previous model and its two control buttons. The best part is that before you enter your pin, the Model T won’t interact with the computer at all — no more malware or keyloggers anxiety.

The digital assets, keys, and passwords can be accessed through the Trezor Wallet and the Trezor Password Manager. The wallet will generate once a unique seed which will act as a backup if it is ever lost. Although the recovery seed matches a standard developed by SatoshiLabs, it is widely compatible with many wallets.

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Interested in other cool crypto content? Check out OTC volume included in VanEck ETF and ICO teams paying for “fake” volume!

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Crypto Wallets: What are they and how do I use them?

As you have no doubt realized by now cryptocurrencies are not stored or maintained like your normal fiat (cash) currencies. No banks involved. Cryptocurrencies are stored on secure digital wallets that store public and private keys and interact with various blockchains. That means if you want use Bitcoin or any other cryptocurrency you will need a wallet.

These wallets allow you to store, send and receive digital currencies such as Bitcoin, Litecoin, or Ripple. That may sounds easy enough, “I’ll just download a wallet and I’m in the game.” It’s not that easy, so I’m here to help you understand the differences and even compare a few.

Let us start with how a wallet works:

There are lots of misconception and misunderstanding about cryptocurrency wallets even though their use is prevalent. Crypto wallets are similar to your home safe. You have a key (or code), and you had better not lose that key as you could lose ownership of your valuables. Instead of a physical box crypto wallets are software programs that store your public and private keys. See, similar. Don’t lose your effing key! 😉

Private keys are essential. If you do not ‘own’ your private key, you technically do not control your cryptocurrency. Again…Don’t lose or share your key! Your private key looks something like this (This is not a valid key):

7297b646f941171d524f1d565b8c8c0e3f77042a555b06f12b67a2b5f6b11b

So do you remember we said wallets store, send and receive digital currencies, right? When a person sends you Ethereum (or whatever) you will need your private key to access the funds transferred and access your assets. This movement of assets from wallet to wallet, or wallet to cryptocurrency exchange is recorded on the blockchain and your wallet balance will reflect that.

How do you send and recieve?
Your wallet will have a public and private key/address. The public key is used to send and receive cryptocurrency and can be disseminated with others. If you wish to send cryptocurrency from your wallet to another address, or exchange, you will have to be provided an address to send to. It is very important you copy and paste the address correctly. Verify before you send.

Your private key is used with the public key to create a signature that cannot be forged. Your private kry must be kept a secret. Varys like secret. Eunuch like secret.

What type of cryptocurrency wallets are there?

You can download a wallet to your smartphone, you can create one online via a web browser, you can download a wallet and store it on your PC or you can buy a physical wallet. Wallets all come down to three categories: hardware, software or paper.

  • Mobile: A mobile wallet will run on your smartphone. Much like your PC security is high as only you control your smartphone. Same setbacks apply though: Hacked, virus or a stolen phone compromises your wallet. MyCelium is arguably one of the best mobile crypto wallets
  • Desktop: These wallets are downloaded and installed on your PC or laptop. Because the wallet installed on your pc or laptop, it can only be accessed from them. Desktop wallets offer a high level of security but if your computer gets a virus or is hacked your wallet could be compromised too. Bitcoin core is an example of a Bitcoin desktop wallet.
  • Online: Wallets that are on the cloud, web based. These are by far the most convenient wallets as it gives you the ability to access your funds it from anywhere. There are two main drawbacks to online wallets. If you recall from the beginning of this article I said “If you do not ‘own’ your private key, you technically do not control your cryptocurrency”?Online wallets store your keys online and are therefore not controlled by you. This makes them vulnerable to attach and theft. *IMPORTANT: Be certain to double check the URL for your online wallet (bookmark it) before entering passwords. There are a lot of phishing scams out there.
  • Hardware: By far the most secure method of storing your crypto loot. In this case your private keys are stored on physical device, not unlike a USB drive. While your HW wallet has to connect online to send and receive currency, they are stored offline which provide added security.***Important: We recommend you always purchase your hardware wallet directly from the manufacturer. Better to be safe than sorry. Also always record your written backups of your keys.
  • Paper: A paper wallet is a piece of paper that contains copies of the public and private keys that make up a wallet. Will generally also have a QR code for a quick scan. The benefit of a paper wallet? Simple: The keys are not stored digitally anywhere

Cryptocurrency Wallet Safety:

Wallet Type Security Level Example wallet
Desktop Medium Bitcoin Core, breadwallet
Hardware High Ledger or Trezor
Online Low MyEtherWallet, blockchain.info
Software Medium Mycelium, Jaxx
Paper Highest Paper, you fool

Ultimately it’s up to you to decide how comfortable you are with which type of wallet. I know many people who use a combination of two or three wallets. Do your research and review the products you plan to use. In a way selecting a cryptocurrency wallet is like selecting a bank to store your cash. You want: Security, peace of mind and confidence in the product.

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