The Thurday, February 1st Edition of The Cryptocurrency Novice Report

I've decided to consolidate the morning and afternoon editions of The Cryptocurrency Report into a single daily report which will have all the features of both reports combined. So let's get started with our scam alert first.

Word to the Wise

A few weeks ago, every scammer out there was trying to come up with a Bitconnect clone to steal your money with. Now that Bitconnect has finally had the collapse that all the non shills were predicting, the clones are running for cover like cockroaches when the lights come on. By running for cover, I mean they are "rebranding" their trash. Rebranding in this case means just changing the name and carrying on with the scam as usual.

Our spotlight today is on DiscoverCoin.

DiscoverCoin is the renamed version of Neoconnect, an obvious clone of Bitconnect.

In addition to changing the name, they have moved from Neo to the Ethereum platform. They have also ditched the Lending, Staking, Trading scam slogan popularized by Bitconnect for the new slogan Trade-Signals, Betting, Mystery-Box as explained here...

Got to give them a little credit, they had just started running their scam, I mean ICO, when the whole Bitconnect meltdown occurred. So rather than take the little money they had and run, they quickly made some sorry ass changes and are trying to continue bilking suckers, I mean soliciting investors. To show how desperate, I mean excited, they were to rebrand, all they could do was throw up a quick Facebook page, their website won't be up for a couple weeks.

No matter what it's called, Neoconnect or DiscoverCoin it's still a scam and if anyone offers to sell you some of this garbage, RUN AWAY!!!

Money For Nothing

Today's free money is another airdrop for ConnectX. ConnectX is a new company that wants to create a network of satellites to store cryptocurrency wallets and perform financial transactions in space. I think this is because the governments of the world control access to the internet, by creating a spaced based network, you remove governments ability to block access.

To get 25 free tokes in the airdrop, click on the logo to go to their website, then click the button to join the LIVE webinar event and get your free ConnectX tokens. ConnectX tokens will eventually be used to purchase access to the satellite network.

I shouldn't do it, but I can't resist...Don't pass up a chance at this offer, it's Out of This World!

The Report

Once again the broad market is being dragged down today thanks to Bitcoin. Sometime in the middle of the night Bitcoin headed south and almost the whole market went along for the ride.

Bitcoin started falling last night and continued to fall throughout the day, reaching a low of a $8812 before bouncing off what we hope is the bottom. Currently, Bitcoin is trading at $9278, down almost 8.4% since this time yesterday.

Steem isn't faring quiet so badly, trading currently at $4.94, down about 3.3% from yesterday afternoon.

SBD on the other hand is getting hit pretty hard today. Currently SBD is trading at $4.57, down over 13% in the last 24 hours.

In a complete surprise, the supply of liquid steem dropped by 10.5% since Tuesday afternoon. This means that almost 73% of the Steem that had been powered down in the last two weeks has now been powered up again. Those crazy Steemit whales, you never know what they're going to do next.

Please note: I am not an investment professional. The information I present here is only my opinion. I'm STILL not panicking ...yet, and neither should you.

Until next time...

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