Digest. News to Help You Preserve Capital |

Digest. News to Help You Preserve Capital

In this digest, we will tell about events that may help users make the right choice and avoid annoying situations with cryptocurrencies in the future. After all, it’s better to learn from other people’s mistakes. 

Fake mining equipment for $100 000

With the growing popularity of cryptocurrencies, fraud is becoming more frequent. In Moscow, a Russian woman transferred 6.7 million rubles ($100 000) to a fraudster who promised to help her buy mining equipment. After receiving the money, the scammer stopped communicating, and the woman called the police. The suspect, who turned out to be a Russian citizen, was caught. It appears he was already on the wanted list. 

For comparison, the cheapest crypto mining equipment costs $1,500, that is, the scam victim could have bought about 70 ASIC miners and created an entire mining farm for the money she lost. There is also an easier way to mine cryptocurrency when you don’t need to buy mining equipment at all –  the EDC Blockchain staking service. Just stake your coins in your wallet and let the system “mine” for you. 

Compensation of $7 for a burned out Asic worth $4000 

In August, a Ukrainian citizen purchased an asic miner for $4,000 on Alibaba. The equipment was supposed to be delivered to Kiev by the logistics company Nova Poshta. During transportation, the truck delivering the parcel caught fire and the parcel burned down. As compensation, the company offered to pay the recipient UAH 200 (USD 7.5) – the amount that was indicated by the recipient in the invoice. Instead, he submitted a claim for the payment of the full amount of $4,000, but was refused. Nova Poshta does not comment on the situation. 

The date of Reggie Fowler’s trial is announced

The trial of ex-NFL investor Reggie Fowler is set for February 14, 2022. Fowler was arrested in April this year for involvement in the "shadow market" and the laundering of hundreds of millions of dollars in Colombian drug cartels. As it was indicated, he has direct ties to a Panamanian company, Crypto Capital Corp. If proven guilty, Fowler faces up to 30 years in prison. 

Switching to virtual money 

You can make money on cryptocurrency without breaking the law. Following El Salvador, Uruguay proposed for consideration a document on Bitcoin legalization. If approved, Bitcoin can be legally used in business to pay and sell goods and provide services. 

Since cryptocurrencies have proven their viability, the time has come for their implementation at the state level. 80% of the world's central banks support the launch of the national digital currencies (CBDC), while the Venezuelan authorities promise to launch a digital bolivar as early as October this year. 

Does this mean that we are on the verge of a major transformation? Perhaps over time, digital coins will become more popular means of payment than fiat money. EDC Blockchain is already working in this direction, creating comfortable conditions for the use of the EDC coin. 

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EDC Blockchain never calls for investment activity. The materials presented on the site are for informational purposes only.