Major News Update from Ethtrade.
A few days ago, on August 2, Ethtrade published a major news update. Unfortunately, the English used is quite bad. So, it is difficult to understand portions of the update. This could be a serious problem for Ethtrade investors as it appears that the update provides instructions about how to proceed with a modified (new?) program in the future. Some of the update is very technical and we strongly recommend that, if you have invested funds with Ethtrade, you should contact their support for further guidance. The complete update follows. However, it is very long and, in an attempt to clarify it, I have broken it up into a number of parts and offered a few comments on each of them. You should read the update very carefully and, again, request support if points are not clear.
Ethtrade Problems.
For the past year and a half, Ethtrade and members have accomplished a huge amount of work. Most of the work has been mainly positive and not in vain. Unfortunately, it doesn’t matter how things were because the Ethtrade management team has come to a clear, unanimous conclusion about the future stable development of the company and it’s community which depends on only ourselves.
The past month of July, Ethrade Global was forcefully made to go through many, only previously imaginable, major changes. The main highlights of major issues are:Ethereum hack using a multi-signature and a force-major split of coins,
a huge dump with many promising ICO Coindash and Veritaseum all because of hack attacks.
Closing of BTC-e exchanger with huge amount of Companies assets, where over the last months, all main trades have been taking place.https://www.cryptocoinsnews.com/classic-ether-wallet-falls-victim-to-a-social-engineering-hacker/
https://news.bitcoin.com/ethereums-parity-client-users-lose-millions-multi-sig-hack/
http://fortune.com/2017/07/05/bitcoin-ethereum-bithumb-hack
https://www.coindesk.com/7-million-ico-hack-results-coindash-refund-offer/
http://www.ibtimes.co.uk/veritaseum-hack-8-4m-worth-ethereum-stolen-by-hackers-yet-another-heist-1631745
That was only July
Ethtrade Has New Crypto “Partner.”
Here things get a little fuzzy. My interpretation is that Ethtrade has created a new cryptocurrency called “Bullcoin.”
Ethtrade predicted the need for change so it partnered with a new crypto partner & found a solution. In order for us to be successful, the company will have to break away from the old business model with traders (as we all can see that Ethtrade depends directly on such negative things that have taken place) and come to a absolutely new stage of development.
So we as predicted we already have started making agreement beforehand with the new crypto partner, but for that Company will have to refuse from the old business model (as we all can see that Ethtrade depends directly on such negative things which taking place) and come to an absolutely new stage of development. The company will manage to switch from the old business model to the new one securing a more dynamic, controlled, and predictable future for all of us because we will be depending on ourselves.We have practically proven that, yes, development using trading strategies on side platforms, and exchanges can be extremely profitable. We also have managed how rapidly everything changes, and as it continues to go the same direction it would be too high of a risk and more obvious failure if we do not make serious changes as proven by recent incidents mentioned above.
We all remember the risks with wallets security and assets safe keeping on them, huge risks participating in aside ICO, partners security measures, and many many other factors, negatively affecting the stability of the entire system.
We did not stored all your funds in our wallets, we forwarded them direct to stock exchanges and iCO, but on the basis of recent bad news, we will refuse even to forward them because I we obvious risks, even that everyone was warned and theoretically prepared for them.
All these things have given a clear signal, that any further development without fundamental changes in business model is no longer possible.So what does this mean? Ethtrade platform has found a crypto partner, congratulating you all genially, declaring transition stage from Ethtrade to crypto partner «Bullcoin».
Conversion of Ethtrade Assets to Bullcoin.
It seems that Ethtrade portfolios will be converted to Bullcoin (I think the abbreviation is BLC). However, 60% of the value of your portfolio will be lost in the conversion. This loss, apparently, is a result of the problems that Ethtrade experienced in July.
What does this partnership give you?
First of all it gives you safety your coins.
Secondly, Opportunity to trade using skills and strategies without any limits and restrictions, in all countries (except USA), where an internet only exists.
Most importantly, it gives you up to 12% of monthly increase when mining using the POS system, only under one condition, that all your coins are being kept on your PC, and every time you keep it your crypto client turned at your PC.Due to all major – force stories Ethtrade has went through during last month July, you all be having your assets recalculated from Ethtrade into BLC, with next way: portfolios minus 60% (we hope everybody understood situation according to the article 10 Force-majeur of the User agreement of the web site & do our best to find the solution.
Thank’s to BLC we have a great chance to join in the first row (only Ethtrade users will get coins now) and convert funds to BLC, which were lost on exchangers and ICOs, under condition, that new crypto currency will leave open, mined on your daily turned BLC clients at your PCs.
Software client already works in high-grade mode and available on some exchanges.
Currently, the purchase of Cryptobullcoin is available to only Ethtrade users. In foreseeable future, all others will be able to buy, so don’t rush to sell BLC – the planned growth rate can be 100-200% within a year (provided organic development and mining).Also, with development and expansion of new coin, you will be able to control the rate of coin on your own. The higher demand is, the higher price.
All these opens doors at a furious rate, with even more incredible possibilities in future.Our will, and dedication to this new business model plus your urge towards success, can significantly improve the current way of business, and improve the quality of provided services. These are education, practical lessons, and physical tangible results.
It is important to add, that from now on, all users, except only citizens of USA, will be able to continue to work using Bullcoin client.
Working with Bullcoin.
Here things get fairly technical and this is where a more precise English translation would be extremely helpful. Apparently, Ethtrade clients now have the opportunity to mine this new cryptocurrency using their own computer. Instructions are given for downloading the software required for doing this.
Here are some facts about Bullcoin:
Bullcoin is not a security, an equity or a bond. Bullcoin didn’t and doesn’t plan to do ICO Bullcoin doesn’t require additional capital, it is created to exchange among users and for speculative trades and exchanges. Users of client control the system by themselves
Configuration:
To start BLC mining, you must meet a number of conditions:
– download the wallet app for Windows, Mac OS, Linux on the following web site www.bullcoin.io
– install the Cryptobullcoin wallet app following the installation instructions;
– run this app and wait for the full synchronization of the BLC blockchain (after the synchronization is completed, a green check mark should appear in the lower right corner);
– always make a backup of your wallet (File>Backup wallet).Receiving of coins:
To do this, press “Receive coins” button in Cryptobullcoin app, then click “New address” – your BLC address will looks like “BDs5znQjXLT2GE8HGhhDsZmqFJ2NP5umfz”.
This address should be inserted in the in your account on the website before August 5.
Storage:
In addition to storing in wallets for Windows, Mac OS and Linux, it’s also possible to store BLC on an Android wallet. In this case, there is no need to download blockchain to your phone, since it’s a Lite client. Be sure to save the backup phrase when creating a wallet – this phrase is the main key to your Android wallet.
Attention! Storing BLC in your Android wallet & any stocks & exchanges eliminates the possibility of POS mining.
The BLC network generates 12% of new coins a month, they are obtained by miners with each new block.
The confirmation time of each block is about 2 minutes.
Each miner has a chance to get a new block and get a reward for it, his chances depend on the number of coins on his mining balance and the total volume of coins in the BLC network.The state of the network can be observed online at www.explorer.bullcoin.io
Now you can trade and manage the whole process by own.
Store your coins online using the client and earn on mining without additional risk factors.
Last Words.
If you have any questions, you can support contact for advice.
We strongly believe this business model performs itself as more safe & stable one.
Best regards. Evolution Begins!
As far as I can tell, as a passive means of investment (as an HYIP), Ethtrade is dead. If you are a techie and want to get involved with mining this new cryptocurrency, all this might be of interest to you. If you are the typical HYIP investor, you will probably be wondering how to convert your Ethtrade assets — which now appear to be in Bullcoin — into cash. For help with this, our hope is that Ethtrade will offer guidelines soon. Emily News will probably close Ethtrade in the near future as it appears that it is no longer an HYIP. However, we will refrain from doing this until, hopefully, there is more clarification from Ethtrade. Heck, it seems to me that they the company at least has to have a new name!
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