The wide scope of online identity fraud has goaded the FBI, FTC, and independent businesses to issue warnings on how to avoid online scams and keep yourself protected. Always question e-mails and opportunities that seem too good to be true, because they almost always are.
Variations of this scam have been around in snail mail form since the 1920s, but they have only become more advanced as technology has grown. This scam is particularly despicable because it victimizes those who have already been victimized.
A recent spin has the scammers pretending to be legitimate companies such as Google, Microsoft, or a security company, telling you they’ve remotely caught a virus. Contact the supposed funeral service if the e-mail looks suspicious, to confirm the funeral. Now, here we are again, marveling at the strength of the BTC, salivating over all the Domino’s pizza you can buy in exchange for Bitcoin through a third-party service. Regardless of how you classify Bitcoin, whether or not the very thought of it makes you laugh uncontrollably, or reminds you to move your account to a new virtual address for safety’s sake, certain people out there are accepting it as currency.
Lol, at this trolling author; Federal Reserve Notes are privately issued promissory notes, you confuse the United States with the registered company UNITED STATES. Yes, the dollar has the backing of the USA, but the way you put it the difference seems to be a contest of popularity. Here are the facts, of which most people, including most reporters and member of Congress, are completely ignorant.
Federal Reserve Notes are printed by the Treasury Department and are backed by the full faith and credit of the United States of America. If someone tells you Sony’s PS4 will cost 55,000 yen I would assume that makes no sense to you and you would need a yen to dollar conversion to understand, even though a yen is just as valid as the dollar and Japanese people have a natural grasp of how much that is. Same thing applies to money, if you owe money to someone and you don’t have a contract or a similar signed document, who is going to make you pay what you owe?
Just let the dollar tank and people flock to Bitcoin and you’re hear a different tune from the federal government. Bitcoin isn’t illegal, but it greatly complicates taxation and there are plenty of ways for anyone using Bitcoin to run afoul of the tax laws. There is literally no difference between bitcoin and a good ol greenback except how widespread its usage is. At what point do they realize that without any functional difference, there is no actual difference? These people will go to great lengths to con a poor, unsuspecting samaritan into giving up their pertinent information, identity, details, or bank account numbers.


The first step on this list is always this: Do not respond to unsolicited e-mail, and do not click on any embedded links within those e-mails.
You would think everyone would know about this scam in 2014, and that nobody would fall for it, but you’d be wrong. A wealthy Nigerian family or a widowed African woman is trying to get money out of the country. These scams promise to refund and recover money already lost to schemes (such as the Nigerian Wealth scam). They say they’ll issue refunds if you provide bank information for the direct-deposit reimbursement. Malware crusaders steal the names of legitimate funeral homes, send invitation notices to an unnamed friend or relative’s memorial service, with an attached link to celebrate the friend’s life. However, rather than just tech blogs and internet culture sites covering the cryptocurrency, more mainstream sites and esteemed financial analysts are now weighing in on the matter.
You can indeed buy real, tangible goods and services with bitcoin, just not as much as with dollars.
Bitcoin still as a very small marketshare, so I wouldn’t expect anyone to have a natural grasp of its value.
They hate competition and want to make all the money they can while they inflate the dollar and steal from all American citizens. Currency is simply anything that someone is willing to accept as payment for a service or product. What is illegal in the US, and what put Liberty Dollar’s multi-level marketing scheme for silver medallions out of business, is allowing the confusion of your thing with USD. As long as people are falling for these too-good-to-be-true opportunities, the prevalence of these scams will only increase. The scammers create phony recovery programs to restore a victim’s lost money, but first you must pay an up-front fee. The invitation appears authentic at first glance, but the danger is in the attached link, typically downloading malware to your computer rather than redirecting you to a funeral service site. And ask yourself: Do you have any recent friends who have died who would invite you to such an impersonal service? Instead of just providing yet another explanation of what Bitcoin is, though, analysts are now wondering why the pseudo currency has caught on, and why it’s not illegal.
If you want to understand cash, money, and how the FED classifies it you might want to check out what M0, M1, M2, and M3 money supplies are, just to begin.
For the time being it needs to be expressed in function of another currency with more widespread use, but it can be any currency.


You can also transfer money via checks made out to Cash, money orders, Credit or Debit Cards, wire transfers, etc. While the Internet and online security become more and more advanced as the years pass, so to do the tactics of these e-scams. If a small nation’s entire economic activity is actually less than bitcoin’s, then its currency is not real? Bitcoin is and always will be just a virtual currency with no true value (not a legal tender) . Each one of those is a widely accepted way to transfer US Currency in lieu of using a greenback. Reproduction in whole or in part in any form or medium without express written permission of Ziff Davis, LLC. Make sure to research a link: A legit, secure URL will redirect to an ‘HTTPS’ address, not just ‘HTTP.’ If you feel that you must open a link, open it manually into your browser, just don’t click any links!
However, as Business Insider pointed out, the US government recently stated that it would be applying money-laundering rules to virtual currency, which means that the government does, in some respect, care enough about virtual currency to try to police it. The moment people start to think of it as a real currency, or even preach that will free everyone from the evils of central government is when it becomes a scam. Just ask yourself this: How many wealthy Nigerians do you know that need your specific help, and why do they need you?
However, while the actual current value is a new height, the rise of the peer-to-peer cryptocurrency is not.
Each member bank is required to purchase stock in their reserve bank equal to 3% of the member bank’s capital.
The value of Bitcoin ebbs and flows, like real currency, though due to the nature of it, ebbs and flows much faster and more drastically. Just two years ago the internet was abuzz with news about the Great Bitcoin Crash, which only came one year after the famous pizza purchase.
If currency is considered to be government-authorized tender, then Bitcoin isn’t currency.
If currency is considered to be an item that is widely accepted by legal businesses in exchange for goods or services, then Bitcoin still isn’t currency. If currency is considered to be an item that is accepted in exchange for goods or services, but doesn’t need to be widespread, then Bitcoin can indeed be classified as currency.



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