The post California Resident Files 4 Million Suit Against AT&T Over Crypto Losses appeared first on DCEBrief.
Meet CoinDaddy: Mink Suit Wearing “Bitcoin Rapper” and Cryptocurrency Enthusiast
San Francisco, a city with a respected hip-hop scene that has spawned rappers like Too Short and Mac Dre, has produced another star: “Bitcoin rapper” CoinDaddy. The 28-year-old behind CoinDaddy, Arya Bahmanyar, left a career in commercial real estate after he said he made a small fortune in Bitcoin.
CoinDaddy: Bitcoin Rapper
CoinDaddy makes rap music about driving Lamborghinis, “slinging coin,” and indulging an urge to check the price of Bitcoin on his phone while he’s having sex. For some, his style of hip-hop may be an acquired taste, but if you’re a crypto-enthusiast there’s a lot to like.
Bahmanyar, who worked as a successful commercial real estate agent, switched career directions after claiming he made a million dollars trading Bitcoin. Bahmanyar, as CoinDaddy, now spends his time writing and performing songs for his Youtube channel, and lives off the earnings he has made trading cryptocurrencies.
According to the self-described Bitcoin millionaire, Bahmanyar hopes to turn his hobby into an entertainment brand, bringing cryptocurrency culture mainstream.
CoinDaddy’s Music
After creating a hilarious parody meditation tape that told listeners to breathe “bit” in and exhale “coin” out, following a string of bad trades, Bahmanyar had a revelation: “I’m going to make songs that aren’t that good,” Bahmanyar said he thought to himself.
His concept strings together crypto slang, like “HODL” and “mooning,” and name-drops iconic crypto figures. In “Holding The Bag,” for example, CoinDaddy mentions several cryptocurrencies and boasts of buying the dips:
“I’m closing in the profit while you’re reaching for pips / You’re coming up short while I’m buying your dips.”
The song goes on:
“Apartment’s looking like the Palace of Versailles / Long position riding on an all time high / If you want the ride, and you want the riches / Then buy more coin and get the b*****s.”
Another more recent release from CoinDaddy, “Alt Season (Where The Money At?)” sees the rapper expanding his horizons, name-dropping altcoins like IOTA and Monero.
According to Bahmanyar, who spoke with Business Insider, the idea was to create music that holds a mirror to the crypto community, aiming to comfort investors in times of volatility, and self-congratulate when the price of coins soar.
How did Bahmanyar make his money?
In 2013, Bahmanyar was a recent graduate of George Washington University sharing an apartment with friends in New York City. After an unexpected encounter with a group of Bitcoin enthusiasts in a bar, Bahmanyar — who received an educational session on cryptocurrency from his new friends — poured his savings into Bitcoin.
Years passed, and he checked the price of Bitcoin almost daily. His parents asked him to undo his investment, calling Bitcoin a scam and referring to it as “magic internet money.” Fortunately, for the most part, prices just kept going up.
“I just held,” Bahmanyar said.
In mid-2017, Bahmanyar’s enthusiasm had waned slightly, but that changed when, after not checking cryptocurrency prices for four months, Bahmanya discovered that Bitcoin had shot up to ,000 per coin. He was visiting family in Europe but decided to pack up immediately and head home.
“I was like, ‘What? I love you but not that much,’” he remembered saying.
Bahmanyar returned to the place he grew up — the San Francisco Bay Area — to be part of the action. Around this time CoinDaddy made his first appearances.
For 2018, Bahmanyar plans to ramp up production of new videos and create songs that educate people who are new to cryptocurrency investing — like a “Bill Nye the crypto guy,” he said.
What advice does Bahmanyar/CoinDaddy offer to other Bitcoin investors looking to the future?
“Just hold. I’ve done pretty well so far.”
Image Courtesy of Shutterstock
The post Meet CoinDaddy: Mink Suit Wearing “Bitcoin Rapper” and Cryptocurrency Enthusiast appeared first on NewsBTC.
CabbageTech CEO Concedes in CFTC Crypto Fraud Suit
CabbageTech CEO Patrick McDonnell has ceased his fight with the CFTC, potentially affirming the regulator’s power to oversee cryptos as commodities.
CoinDesk
Another Class Action Suit in Coincheck Hack Aftermath
Coincheck is in the news again as another class action suit has been brought against the Japanese cryptocurrency exchange in the aftermath of the January NEM heist.
Another Class Action Suit
According to the Japanese media outlet Sankei an additional 132 investors have joined a class action suit to try and get full reimbursement of their stolen digital assets.
The suit which was filed in Tokyo District Court on Feb. 27 is seeking .1 million in cryptocurrency. This is following a suit that was filed Feb. 15 that sought 3,000 in damages plus 5% annual interest until the funds are recovered.
These suits are part of the aftermath of a late January hack that netted thieves 523 million NEM tokens worth over 5 million at the time. Eventually, the hack was blamed in part on Coincheck’s bad security protocols because customer tokens were stored in a non-secure wallet.
The Coincheck hack which is the second largest after the legendary Mt. Gox brought with it a new level of scrutiny from Japan’s Financial Services Agency which has since banned two other exchanges from doing business and delt official warnings to Coincheck and others.
Coincheck had stated from the day of the hack that it would reimburse the 260,000 investors affected by the theft the sum of 5 million dollars from its own accounts. Then announced that payments had been completed on March, 13.
According to Coincheck’s spokeswomen, the reimbursement was completed in one day and that customers were paid based on a valuation of 88.54 Yen per NEM token. Coincheck began taking orders again that same day.
At the time many customers Tweeted out their thanks to the company for keeping their word while others cried foul at the low payment price noting that the value of the NEM at the time it was stolen was 110 Yen per token.
Coinchecks Pay Out not Enough for Some
Coincheck posted a message on their blog to explain how they calculated the reimbursement rate which read
“the prices during the period beginning with the suspension of new purchases and sales of NEM on the Coincheck platform and ending with the release of this notice.”
This explanation obviously has not satisfied all customers affected by the hack who believe the company should pay out at the earlier, higher rate or barring that in NEM tokens.
To date, the Coincheck hack remains unsolved. The hackers are still at large despite a major effort by the Tokyo police force to track the funds. There is evidence that up to million of the NEM tokens have been laundered through exchanges though the how is still a mystery.
The Coincheck hack sent shivers through the Cryptocurrency world as wounds from the Mt. Gox hack have yet to heal for many of those victims. On Feb. 14, 2014, a mysterious glitch caused 0 million in Bitcoin to go missing resulting in the eventual shuttering of the exchange, rounds of regulatory assessment and lawsuits. Even now after 4 years little of the missing Bitcoin has ever been traced.
The post Another Class Action Suit in Coincheck Hack Aftermath appeared first on NewsBTC.
SEC Files Fraud Suit Against Crypto Bank ICO
The U.S. Securities and Exchange Commission is charging cryptocurrency banking firm AriseBank over alleged fraud and violations of securities rules.
CoinDesk
DASH REVERSE FROM $1200 AS IOTA, LTC AND MONERO FOLLOW SUIT
As DASH reverse from 00, other crypto pairs are following suit especially IOTA which is now trending lower after stalling at .2. Generally, USD buyers are in charge across most currency pairs besides NEM.
Apart from these, I will shift my focus on LTC and chances of losing their Q4 2017 gains is high after failing to close above 5.
Let’s have a look at other charts
NEM RALLY AS BUYERS AIM AT
![NEM clears .1 as buyers aim at](http://s3.amazonaws.com/main-newsbtc-images/2018/01/04090827/XEMUSD-4HR-Chart-04.01.2018.png)
Price action sliced through .1 like a hot knife through butter.
My recommendation on December 4 was proven wrong and after pasting a Fibonacci extension between last week’s highs, then it’s evident that NEM prices have already cleared two key resistance levels at .35 and at $.176.
Buy pressure is intact. Even though there is a stochastic sell signal in place, we shall see how bears react at $.176. That is assuming there is confirmation of bear pressure.
Of course it will not be wise to sell in a strong uptrend but in a bid for recovery, any close below .76 with trend towards the middle BB is ideal for buyers looking to buy on dips.
DASH REVERSE FROM 00 AS SELLERS AIM FOR 0
![DASH reverse from 00](http://s3.amazonaws.com/main-newsbtc-images/2018/01/04090810/DASHUSD-4HR-Chart-04.01.2018.png)
After a doji candlestick on January 3, prices couldn’t get past 00 and this reversal is a surely a confirmation of the over-valuation in the weekly chart.
We expect prices to close below 00 in the coming sessions now that a stochastic sell signal is in place and DASH prices are turning from the 78.6% Fibonacci retracement level as per last week’s high-lows.
In light of this, sellers should aim for 0 and 0.
IOTA PATH TOWARDS EQUILIBRIUM IS ON COURSE.
![IOTA bears after reversing from .2](http://s3.amazonaws.com/main-newsbtc-images/2018/01/04090815/IOTUSD-4HR-Chart-04.01.2018.png)
Unfortunately for IOTA buyers, prices couldn’t get past .2 and this is important for sellers.
According to yesterday’s projection, we were short term buyers with ideal take profit target at .5. However, after today’s lower lows, IOTA path towards equilibrium is in progress invalidating that bull move.
Already there is a stochastic sell signal and obvious resistance at .2.
AFTER REVERSING FROM AROUND 0, MONERO SELLERS PUSH FOR 0
![Monero lower lows towards 0](http://s3.amazonaws.com/main-newsbtc-images/2018/01/04090832/XMRUSD-4HR-Chart-04.01.2018.png)
Monero price action is panning out as per yesterday’s recommendation and sellers are driving prices lower at around 0.
Besides that, there is a stochastic sell signal in place. This is in sync with the overall momentum in the weekly chart.
As usual, I will use the Fibonacci extension tool from last week’s high lows to mark out potential take profit levels.
As it is, Fibonacci projects them at 0, the 61.8% extension level. This is around the same price as our immediate support at 0. That’s where sellers should be aiming.
LTC BEARS MAY DRIVE PRICES TO 0
![LTC sellers aim at 0](http://s3.amazonaws.com/main-newsbtc-images/2018/01/04090820/LTCUSD-4HR-Chart-04.01.2018.png)
Sellers are definitely in charge and the bounce from 5 is impressive.
Because the over-all LTC trend is bearish, we should be looking to load shorts and aim at 0.
All charts courtesy of Trading View
The post DASH REVERSE FROM 00 AS IOTA, LTC AND MONERO FOLLOW SUIT appeared first on NewsBTC.
ATB Coin the Latest to Face Class-Action Suit After ICO
Early motions may force the court to rule on whether or not this coin should be considered a security under U.S. law.
CoinDesk
New Class-Action Suit Filed Against Tezos Founders
The Tezos organization is being sued for a fourth time, in this case to freeze the funds raised during its ICO.
CoinDesk
Class-Action Suit Targets ICO Promoted By Floyd Mayweather, Jr.
An initial coin offering ICO promoted by boxing champion Floyd Mayweather, Jr., is at the center of a newly filed class-action complaint.
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Class-Action Suit Targets ICO Promoted By Floyd Mayweather, Jr.
An initial coin offering (ICO) promoted by boxing champion Floyd Mayweather, Jr., is at the center of a newly filed class-action complaint.
CoinDesk