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“Maybe Crazy” Youtuber Cancels House Purchase to Buy Crypto

In a recent YouTube video published yesterday, YouTuber Louis Thomas announced that he planned to cancel his purchase of a house as his first property, using the funds instead to buy cryptocurrency.

In the video titled Maybe I’m Crazy – Just Cancelled Home Purchase to Buy Crypto Instead, Thomas revealed that after many months of processing his application for the purchase of a landed property, the final step was left with the receipt of his bank’s approval – and the payment for which he was ready to make.

However, his decision to pay was altered when he noticed yesterday’s significant drop in the price of Bitcoin, touching its lowest levels this year at USD 5,435 (Bitfinex). The YouTuber admits that this dip in Bitcoin and other altcoins informed his decision in favor of the purchase of cryptocurrencies instead of a home.

“This is real”, he confessed. Thomas went on to say that he understood what he was doing with his life, his money, his responsibility, regardless of the future consequence. He did admit, though, that he is holding off on investing in crypto until prices drop further.

Having reviewed his history online, it appears his decision was drawn from personal insight. His video contents on the subject of cryptocurrency and its volatility to his 96,000 followers on YouTube reveal a depth of knowledge about the cryptocurrency market

The Youtuber received largely positive reactions on the comments section of his YouTube channel, with many saying that they believed he was making the best decision.

Thomas isn’t the first to tempt fate with cryptocurrencies. Bitcoin News previously covered the story of Didi Taihuttu, the man who sold everything he owned to go all in on Bitcoin.

 

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Press Red and Its All Systems Go: Man Invents Fail-Safe Bitcoin Sell-Off System

A cryptocurrency enthusiast is preparing for the day when he might need to shift his portfolio in a hurry, but he has chosen an entirely unique way of doing it, by using a red button.

In 1950s America, nuclear fallout shelters were constructed to protect against an escalation of the Cold War. Cypriot Ilker Dagli has constructed his own defence against another potential Armageddon; the total collapse of Bitcoin.

Dagli, clearly a prolific hodler of the benchmark cryptocurrency Bitcoin, is preparing for the day, hoping it may never happen when all those Bitcoin need to go, in an instant. In order to effectuate the quickest sale possible, the employee from Near East University in Cyprus has built his own version of the presidential red button.

No rockets launched at a press of this one, but all his cryptocurrency orders will be instantly cancelled and sold.  He is clearly happy to promote his invention; an innocuous looking small box boasting a large red button, as he has posted a video on YouTube with details of how his Bitcoin failsafe, called the “emergency stop loss button” will actually handle the emergency it was built for.

Although he used Binance for dumping his positions, in this video he suggests that his ESLB will handle most major exchanges. Dagli, clearly at home inventing useful products for the fourth industrial revolution, has also constructed an internet kill-switch in case the world wide web became just too impinging.

Rather than writing code, he decided to take the physical route and use a physical valve which could be used to adjust bandwidth.

The cryptocurrency space has its weird moments and altcoins can certainly raise a smile. Try Unobtainium, all 250,000 of them, clearly making them difficult to, well, obtain. However, at the height of crypto activity at the end of 2017, they had achieved a market cap of over $75 million.

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Image Courtesy: Ilker Dagli (YouTube)

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Blockchain Report Goes Live with Daily News Video Targeting Millennials

Crypto Culture

a BitcoinNews.com series

Part 1: Blockchain Report Goes Live

In the first installment of the Bitcoin News Crypto Culture Series, we investigate a new daily news video from What’s Trending and ICO Watchdog, Blockchain Report.

On Tuesday 2 October, the first episode of a new daily blockchain news program aired, hosted by Snapchat influencer Taylor Nikolai. Blockchain Report is a combined effort from cryptocurrency financial information service ICO Watchdog, and Emmy-nominated digital media company What’s Trending.

The short videos are looking to tap into the millennial generation’s intrigue in cryptocurrencies while providing a trusted source for information, with no underhanded selling of new tokens or products that unfortunately crop up in crypto-related media.

What’s Trending founder Shira Lazar co-heads the project and has plans to use the show to highlight women in the field of cryptocurrency. Speaking to Forbes, she described her goal of using the Blockchain Report platform to showcase both well-known women, and those under the radar who have not yet had the opportunity to make headlines.

The first episode remained shy of 100 views on YouTube at the time of press but with these big names and solid capital behind the project, it looks likely to form a large following. What’s Trending boasts 3 million cross-platform followers and over 200 million YouTube views to date, while Blockchain Report’s Twitter account already has nearly 6,500 followers.

Who’s going to enjoy it?

The fast-paced, well-produced video mimics that of its partner company What’s Trending but like its videos, they are short and do not divulge a lot of detail into the topics discussed. Creators of Blockchain Report say they are targeting the millennial generation, although well-informed millennials in the space are likely to want to do further research on the topics discussed as the self-imposed five minutes of each video leaves little time to really delve into the subject matter.

Scheduled daily Monday to Friday, Blockchain Report may well become a useful, trusted source to find out the big news headline of the day, and the production quality is certainly superior to the majority of alternative daily cryptocurrency videos. Experts or individuals who are looking for a more in-depth approach may be inclined to look elsewhere, however.

What can you expect?

The first episode covered three big stories from Tuesday: Tom Lee’s claim that Ethereum is on the verge of a major rally, web browser Opera enabling built-in Ethereum support, and corporate investment company Fidelity showing further interest in cryptocurrency and blockchain.

ICO Watchdog prides itself on providing an unbiased, informative take on the ICO market, providing investors with informative publications such as ”The Six Key Factors for Analyzing an ICO“.

Its participation in the project can assure viewers that what they are watching can be corroborated by facts, while What’s Trending has the necessary background in media production to make it entertaining and accessible enough to attract younger viewers.

Blockchain Report is one to watch to grab your quick headlines but not a sole resource to rely on.

 

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New Survey Shows Crypto Growth: 31% Wouldn’t Mind Some Wages in Bitcoin

Yet another Google survey is out and this one, commissioned by British Tech Company Sage, has revealed that many employees wouldn’t object to having part of their salary paid in Bitcoin.

In fact, as many as 31% would be happy to have at least some portion of their earnings paid in the flagship cryptocurrency according to the figures. Of the 1,000 respondents, 37% said that they would go for between 1-20% in digital pay and the rest in fiat.

This latest survey conducted by Sage was meant to monitor responses to employees current pay trends and preferences. Sage develops solutions for business and pays salaries as an outsourced paymaster through Sage Pay. The suggestion is that the survey although conducted by a UK company wasn’t limited to a particular region or country due to the way it was administered online.

Darren Francis, who commissioned the survey commented: “It’s interesting that more people were leaning towards the “all-in” option; having their sole or dominant income paid to them in cryptocurrency.”

As Francis pointed out the majority took the “most or all” scenario rather the lower percentage of earnings in crypto by 15% to 11%, the latter saying that they would like just between 61-80% of their salary in Bitcoin or similar.

Another factor turned up by the survey’s questions was that women were far less likely to go for the crypto pay option than men, perhaps reflecting their interest in the subject as a whole. However, as reported by Bitcoin News, recent figures show that the gender disparity has significantly changed of late with far more women adopting some kind of cryptocurrency as part of an investment portfolio in 2018 than previously.

The survey revealed that 25% of women were open to the idea of some part of their salary being paid in cryptocurrency, whereas 75% of males would subscribe to the new pay scheme.

In terms of an age demographic, there was little difference in acceptance of crypto pay between the lower age groupings such as 25-34 and 35 -44, but beyond that, and edging towards retirement, the figures reportedly dropped off, with far last interest in this form of payment being shown by older employees.

Sage used Google Surveys in order to collect the data which relies on a network of content sites including YouTube and the Readers Digest. Respondents visit the survey site and participate in exchange for content.

 

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YouTube Being Sued for BitConnect Negligence

BitConnect was a high-yield cryptocurrency investment ponzi scheme that collapsed in January 2018, and now YouTube is being sued for alleged negligence in propagating BitConnect content. Apparently, YouTube published over 70,000 hours of unedited BitConnect connect, generating 58 million views, possibly resulting in hundreds of thousands of victims.

The founder of the Silver Miller law firm which has launched the class action Bitconnect lawsuit, David Silver, says, “The platform allowed BitConnect to reach hundreds of thousands of potential investors, all while YouTube was aware that BitConnect was a scam. As the old saying goes: Sometimes when you lie down with dogs, you get fleas.”

BitConnect promised daily interest earnings for cryptocurrency invested on their site, up to 40% per month, with an additional interest rate of 0.25% daily for people that invested over USD 10,000. BitConnect had a native cryptocurrency, BCC, that had a market cap of USD 2.5 billion at the peak of the scheme.

BitConnect announced that it was closing up due to negative reports by the media and said it would repay all loans with BCC. They did this maliciously, since they waited to repay loans until after the announcement. In January 2018 BCC lost over 99% of its value, as victims scrambled to sell their coins, and BitConnect was able to repay all loans for a miniscule fraction of the real loan value. BCC is effectively dead at this point with daily trading volume of USD 100. This might be the most catastrophic and complete collapse of a cryptocurrency in history, having gone from a market cap of USD 2.5 billion to virtual death in less than six months.

The BitConnect scandal may be part of the reason that YouTube’s parent company, Google, banned all cryptocurrency advertisements. However, this ban does not affect content being posted on YouTube.

It remains up to the court to decide if YouTube is actually responsible for people being victimized by content in videos posted on their platform. A tremendous amount of videos are posted on YouTube every day, and it would be quite difficult for YouTube to look through all the videos and delete ones related to cryptocurrency scams. Additionally, it can be argued that people need to be responsible for their own investment decisions.

 

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