ALEXANDER LORENZO
WHAT THEY
DON'T TELL
YOU ABOUT
BITCOIN
Exclusive Bitcoin Content
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EXCLUSIVE BITCOIN CONTENT
Bitcoin might seem like its a
great opportunity. But with every
great reward comes great risk.
CONS
EXCLUSIVE BITCOIN CONTENT
THE TRUTH
Will set you free!
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EXCLUSIVE BITCOIN CONTENT
DECENTRALIZED
MINING?
A FEW LARGE MINING POOLS
51% ATTACK
CARBON FOOT PRINT
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SPENDING BTC
1 MEGABYTE PER 10 MIN = 7
TRANSACTIONS PER SECOND
EXCLUSIVE BITCOIN
CONTENT
PEOPLE RATHER HOLD
BITCOIN NOT SPEND IT
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EXCLUSIVE BITCOIN CONTENT
MYBUS
March 2014 - January 2015
23 transactions
WORDPRESS
November 2012 - February 2015
Used 2 times a week
FIREFOX
EXAMPLES
2014
"Donate With Bitcoin"
Dropped revenue per visitor
by 7.5%
CODE BASE COPIED
Copy of the codebase from exchange Bitcoinica which was
founded by a 16 year old Zhoutong. "Spaghetti code"
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120,000 WAS STOLEN FROM BITFINEX
CUSTOMER ACCOUNTS
Bitfinex got hacked on August 2016
36% HAIRCUT
They took 36% of all the users money to make up for losses
EXCLUSIVE BITCOIN CONTENT
BITFINEX
BITOMAT
Then the 3rd largest exchange kept its whole site wallet
file on amazon web services with zero backups. It got
restarted om July 2011 and disappeared.
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BITCOINICA
16 year old creators first real project. It collapsed May
2012. "No database backups" The remaining funds were lost
in further hacks.
BITPAY
Claimed to be fully insured. Exploited by phishing attack
December 2014. Lost 5000 BTC, The insurer refused to pay
the company pointing out that the policy insured the
computers and physical cash. Bitcoins did not count as
physical cash.
EXCLUSIVE BITCOIN CONTENT
EXCHANGES
ALLCRYPT
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Their Wordpress got hacked to allow access to exchange
data. The same thing happened to Bitcoin lending startup
loan base.
CRYPTSY
Collapsed from a hack in January 2016, the proprietor ran
off with all the Bitcoins and moved to china to start a
new exchange.
KRAKEN
Blamed Cloudflare for its website problems. Cloudfare's
CEO went on to publicly tweet that Kraken hadn't paid its
bill in months and got downgraded to a free account.
EXCLUSIVE BITCOIN CONTENT
EXCHANGES
INSIDER TRADING
Coinbase accused of insider trading and pumping the price
of BCH. They colluded with BCH.
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EXCLUSIVE BITCOIN CONTENT
COINBASE
HYIP
OTHER SCAMS
COIN DOUBLERS
MINING SOFTWARE / HARDWARE
CLOUD MINING
SCAM WALLETS
SCAM REPLICAS
MY COMMENT SECTION
EXCLUSIVE BITCOIN CONTENT