BitcoinInsider

Burger King has waded into the cryptocurrency market with the launch of its own virtual coin called "WhopperCoin" in Russia. With each purchase of the burger chain's signature Whopper sandwich, customers can receive WhopperCoin tokens via a digital wallet. Bitcoin traders have previously gotten a lot of flak in Russia, with reports last year suggesting users could even face jail time under proposed legislation. However Russia's First Deputy Prime Minister Igor Shuvalov has since shown support for cryptocurrencies. In an interview with Russian media organization RBC, he said: "I am a supporter, a cryptoround (sic) must exist." How WhopperCoin would work WhopperCoin transactions will be powered by Ethereum rival Waves' distributed ledger network. The blockchain platform allows users to issue and transfer custom blockchain tokens, and to trade them on an integrated peer-to-peer exchange. A blockchain is essentially a ledger of transactions that cannot be ...

According to Canadian news sources, there is a new type of Bitcoin-related scam making the rounds. A story on the CBC website mentions how a woman was asked to make several cash deposits to cryptocurrency ATMs over several days. It is estimated around C$17,000 was obtained from just this one victim. The criminal's choice to use Bitcoin raises a lot of questions, especially considering that the largest cryptocurrency is anything but an anonymous payment method. Police officials claim they cannot track the relevant transactions, though. Criminals are getting craftier when it comes to scamming people out of their money. Locking computer files and encrypting them has proven to be a very lucrative business model over the past few years. However, there are plenty of other options waiting to be explored as well. According to the CBC, one such method involves scammers having victims deposit cash using Bitcoin ATMs. One worrisome aspect of this story is how a bystander observing an older pe...

Pleasing cryptocurrency customers is virtually impossible, as every individual has different expectations and desires. Accommodating all of them is not feasible any longer, especially for cloud mining businesses. Genesis Mining is a solid company, and I know its CEO personally. There is no reason for this company to start scamming its users or pay them out less than expected. The most often heard complaint about Genesis Mining is how its cryptocurrency cloud mining service is not necessarily profitable. That may certainly be the case, as customers buy into a one-year contract — or longer — without knowing what the future holds. The company provides its rates of return and fees upfront, which allow for some basic calculations to be made. In most cases those calculations turn out positive, but they do not necessarily take fluctuations into account. There are other factors to take into account when it comes to cloud mining. First of all, there is the value of the cryptocurrency in quest...