Skim for May 1st – May 5th

A word of caution on OneCoin. Onecoin is a scam coin that promises riches that never come, you never control your funds and the Onecoin blockchain does not exist. So its good to see in the news Germany and India move against Onecoin promoters. We have a responsibility to point out scams where we can, many times its not as easy as Onecoin.

 

On a “Lite”-er note Litecoin has now been added to Coinbase after their recent adoption of SegWit otherwise known as segregated witness. Litecoin has predictably rallied on this news in just a few days going from around the $15 to $27 at the time of this writing. I said that might happen, just saying.

 

Lastly I’ll wrap up with Ethereum. The smart contract enabling blockchain is still keeping to their roadmap of switching to proof of stake known as Casper. To avoid a shock to the protocol they will ease into POS(proof of stake) by only submitting 1 out of every 100 transaction blocks at first. 1 will by solved by POS and the other 99 will keep with the current POW(proof of work) algorithm they have in place now. This could be good news to all holders of Etherem because it would give holders the opportunity to stake their ETH and earn a return. Of course this all assumes they will get it right and implement this correctly, lets hope so!