Money Cryptocurrency boom leaves Vancouver exchange scrambling

17:28  11 january  2018
17:28  11 january  2018 Source:   Vancouver Sun

Mark Zuckerberg Says Facebook to Look Into Cryptocurrency

  Mark Zuckerberg Says Facebook to Look Into Cryptocurrency Facebook Inc. Chief Executive Officer Mark Zuckerberg gave cryptocurrency enthusiasts a little optimism for the new year. Zuckerberg referenced cryptocurrencies in a posting Thursday in which he laid out how he will spend 2018 trying to correct persistent problems -— including the proliferation of hate speech and misinformation -— that have dogged his wildly popular social network for the past two years.“There are important counter-trends to this -- encryption and cryptocurrency -- that take power from centralized systems and put it back into people’s hands,” Zuckerberg wrote.

Sign In Sign Out. Subscribe. Cryptocurrency boom leaves Vancouver exchange scrambling . Einstein Exchange is located at 736 Granville St. in downtown Vancouver .

Vancouver police say Stanley Park stabbing murder was premeditated. Here's what you need to know about the total lunar eclipse in B.C. Cryptocurrency boom leaves Vancouver exchange scrambling .

A Vancouver company is facing angry and panicked complaints from high risk investors who fear it has mismanaged their trade in Bitcoin or other cryptocurrencies.

Quotes in the article

Mastercard Inc

MA

Singapore central bank head hopes cryptocurrency tech will survive 'crash'

  Singapore central bank head hopes cryptocurrency tech will survive 'crash' The head of Singapore's central bank said on Monday he hoped the technologies underpinning cryptocurrencies such as blockchain would not be undermined by an eventual crash in the digital money. The city-state has been positioning itself as a hub for fintech - or financial technology - but has urged "extreme caution" about buying cryptocurrencies.

Vancouver police say Stanley Park stabbing murder was premeditated. Here's what you need to know about the total lunar eclipse in B.C. Cryptocurrency boom leaves Vancouver exchange scrambling .

In the gold rush that is the cryptocurrency boom , one might compare the manufacturer of picks and shovels to the owners and operators of crypto exchanges . Cryptocurrencies have become a ripe target for cybercrime and hacking, leaving exchanges scrambling to differentiate based on security.

159.71
-0.14
-0.09%
American Express Co

AXP

100.61
-0.59
-0.58%
S&P/TSX Composite

0000

16,271.07
+23.12
+0.14%
S&P/TSX Venture Composite

ISPVX

896.05
-14.79
-1.62%

Einstein Exchange has seen scores of complaints, threats of legal action, calls for police intervention, and even allegations of fraud in recent weeks related to claims of vanished purchases, unmet requests to cash out or move coins, and unresponsive customer support.

Michael Gokturk, the director of Einstein Exchange, said that he felt “heartbroken” to hear customer complaints that were put to him during a lengthy interview Wednesday and explained the company never anticipated the massive interest that has left it backlogged.

“They have a right to be upset, whether it’s a $1 customer or a $10 million customer. When you’re dealing with people’s money they’re absolutely right. We just can’t get to them fast enough,” Gokturk said.

A cryptocurrency created as a parody is now worth more than $1 billion

  A cryptocurrency created as a parody is now worth more than $1 billion Dogecoin's market value is now more than $1.09 billion, according to data from CoinMarketCap.A cryptocurrency that was created as a parody and named after an internet meme now has a market value of more than $1 billion.

Future home of something quite cool. If you're the site owner, log in to launch this site. If you are a visitor, check back soon.

Exchange cryptocurrency at the best rate. Transfer from one wallet to another within seconds. Enter your email address Why should I leave my e-mail? Continuing signing up. Track record proved security.

When prices for Bitcoin and other virtual currencies spiked in recent weeks, currency exchanges were slammed with applications for new trading accounts. Waits for online account verification — a cumbersome and preliminary step required by most exchanges — grew from days to weeks in some cases.

But Einstein Exchange was different. It claimed waiting times of less than 60 seconds for cryptocurrency purchases by Visa, Mastercard, American Express or bank draft, according to its website, and “instant sign-up and verification for Canadians,” according to its ad on Google. In five months, the exchange —‚ while still in beta form — grew from zero customers to about 30,000, by Gokturk’s count.

What those customers experienced with the company depends on who you ask. Tyler Jackson, from Lexington, Kentucky, put his experience plainly.

“This company is shady and doesn’t seem to care about their customers,” Jackson said in a recent email. “There seems to be no hope in getting my money back …”

Watch Out, Canada: Half Of Housing Booms End In Crisis, Research Finds

  Watch Out, Canada: Half Of Housing Booms End In Crisis, Research Finds A new study from New Zealand's central bank has a word of warning for those involved in Canada's long-booming housing markets: There's a good chance it will end badly, and people at the lower end of the income ladder will get hit hardest if and when it does. Like Canada, New Zealand has struggled with a housing affordability crisis as prices soared over the past decade. Mirroring Toronto and Vancouver, detached homes in some of New Zealand's hottest markets now average above $1 million. The government recently announced it will be banning foreign home buyers from the existing home market.

Exchange cryptocurrencies easily Transfer from one wallet to another within seconds. It's that simple. 1. Select XVG on the right and the coin you want to exchange on the left . Enter the amount.

Exchange cryptocurrency at the best rate. Transfer from one wallet to another within seconds. Enter your email address Why should I leave my e-mail? Continuing signing up. Track record proved security.

Jackson’s story begins on Christmas Day, when he received $200 as a gift. He decided to spend it on Bitcoin, which he bought through Einstein Exchange, he said.

Later when he tried to pull out his funds, he got a message that he needed to be verified first. So he sent the company copies of his bank statement and drivers licence, and a selfie holding that licence. He said he is still waiting.

Terrence Brannon, reached last week at a Motel 6 in Asheville, North Carolina, said he signed up then clicked to buy $200 USD in Bitcoin with his credit card on Dec. 10.

Unable to withdraw his money, move it to a different exchange, reach the company, or even log into his account, he filed a dispute through his credit card company. He too is still waiting for resolution, he said.

The two men’s stories mimic several told to Postmedia by people from around North America who had invested sums ranging from $200 CAD t0 $15,000 USD through the company. Many of those interviewed would not agree to go on the record out of concern it would damage their professional or personal relationships. One, an investment adviser from Nova Scotia, said he had “likely kissed his money goodbye.”

Porn Site Stole French Karate Teacher’s Identity in Cryptocurrency Hustle

  Porn Site Stole French Karate Teacher’s Identity in Cryptocurrency Hustle The weirdest bitcoin-like grift yet may be from a cam site that admits its CEO is a fake person.Fantasy Market billed itself as a cryptocurrency-powered live sex site and offered users “Fantasy Market Tokens” to request sex acts from performers on camera. Fantasy Market’s CEO “Jonathan Lucas” claimed to have raised nearly $5 million in FMT sales, the New York Post reported.

Online cryptocurrency exchanges are websites where you can buy, sell or exchange cryptocurrencies for another digital currency or fiat BON (BON) BOOM ( BOOM ) BoostCoin (BOST) BOS (BOS) BOSS (BOSS) BOT (BOT) BPOK (BPOK) BQ (BQ) BQX (BQX) BRAIN (BRAIN) Brazilian

Bitfinex is the Cryptocurrency Exchange that has the biggest market. You can buy directly Bitcoin with Dollars, and you can trade some other atl-coins also. To buy and sell, you have to click on "Market" on the top left , and then choose the cryptocurrency you want to trade. You can also search for a

The stories also resemble dozens of complaints found online, including those on a Reddit forum moderated by employees of Einstein Exchange. “SCAM,” “Screwed out of $1,350,” “Bad service,” and “Fraud: Report to B.C. Securities Commission” were the headlines of just a sample of negative posts about the company.

“Suing Einstein Exchange for losses and negligence,” read another, which appeared to be seeking people to join a class action.

Gokturk said about 55 per cent of the complaints the company has received relate to its verification process, which is performed manually by staff who work on the top floor of a downtown office building. It is a tight, warm work space packed with computers, monitors, tickers and 14 employees who perform various functions.

Gokturk said it takes one person one hour to approve 30 verifications, and the company recently stopped taking on new customers to handle its backlog.

“We are pro rules and governance, we are pro transparency,” he said, adding that the company wanted to work with regulators to “help write the rules” and put policies in place to protect customers.

Alison Walker, a spokeswoman for the BCSC, said depending on the operations or location of a particular cryptocurrency marketplace, it may not fall within its regulatory jurisdiction.

Jane Fonda has cancerous growth removed from lower lip

  Jane Fonda has cancerous growth removed from lower lip Jane Fonda says she's fine.Jane Fonda had a cancerous growth removed from her lower lip, she revealed.

blog 'brycefluth.blogdetik.com' is not exists. Uncle Johns Scrambled Brains: 36 Tear-off Placemats For Kids Only!:

If you are the webmaster for this site, please contact your hosting provider's support team for assistance.

“Complaints about exchanges can be directed to the BCSC. If the BCSC is not the appropriate agency, we can direct the complaint to other organizations accordingly,” she said.

When asked whether police would be an appropriate venue to take complaints about local companies active in the cryptocurrency field, Jason Robillard, a VPD spokesman was unable to get a definitive answer.

Some of the jurisdictional uncertainty is around the question of whether cryptocurrencies are securities. While the BCSC considers Bitcoin to be a commodity, Canadian securities regulators have determined some initial coin offerings are distributions of securities, Walker said.

Cristie Ford, an associate professor at the University of B.C.’s Peter A. Allard School of Law, said to her recollection no authority had deemed Bitcoin, for example, to be a security.

“I do not believe that Einstein is a scam,” Condy said by email.

“They have an office that processes applications, withdrawals, and deposits face to face (and) most of the team has reached out to me,” he said, adding that he has been able to deposit more money and move it off the platform speedily and without issue. But he said it was a poor decision for the company to take new money while working out kinks.

Many customers have also taken to social media to report that the company had sorted out their concerns.

On Monday, Einstein Exchange added 30 call centre workers in Montreal to help handle customer inquiries 24/7, Gokturk said.

When Postmedia phoned the company Wednesday, the estimated wait time to speak to a representative was 27 minutes, down from recent claims of hours.

mrobinson@postmedia.com

CLICK HERE to report a typo.

Is there more to this story? We’d like to hear from you about this or any other stories you think we should know about. Email vantips@postmedia.com

How risky is it to invest in cryptocurrencies? .
CALGARY - The growing frenzy around bitcoin and other cryptocurrency offerings has prompted warnings from a range of financial heavyweights on the risks that current and potential investors should keep in mind. Bank of Canada governor Stephen Poloz sounded the alarm last week, saying that buying into the trend is "closer to gambling than investing", while Canada's securities regulators association issued a special warning on Monday about the high level of risk associated with digital currency-linked products.Top of mind for many is the question of just how big a bubble bitcoin is in.

—   Share news in the SOC. Networks
This is interesting!