If the project is the next generation of cryptocurrency, then why do they need to sponsor a poker player? This is not a good look for a project that is attempting to be serious. not Dogecoin or other memecoins) that have had sponsorship deals. We cannot think of another serious cryptocurrency (ie. Phil Hellmuth is their most well-known spokesman and he’s also an angel investor in the project. The first issue we have with Bitcoin Latinum is their marketing strategy of sponsoring poker players. However, the totality of the issues does not paint a very good picture for the project. ![]() Some of these issues are major issues while others are relatively minor. We have some issues with Bitcoin Latinum. It appears that they are interested in drawing investors into the project more than explaining the technical details with a yellow paper. The docs section of the website lists a whitepaper, an investor analysis, and investor overview. The project does not even have a yellow paper, which is unusual for a project like this. All the major blockchains have two of the three, but none have all three.īitcoin Latinum does not appear to be doing anything groundbreaking with their proof of stake algorithm. It refers to the fact that making a blockchain be decentralized, fast,and secure is extremely difficult. There are plenty of proof of stake blockchains out there and they do not solve the blockchain trilemma.įor those unaware, the blockchain trilemma is a phrase coined by Ethereum founder Vitalik Buterin. The whitepaper hypes this up like it is some sort of breakthrough in technology, but it’s really nothing special. The actual mechanics of Bitcoin Latinum are really nothing too exciting – it’s a proof of stake coin. Jonna is also not registered with the Securities and Exchange Commision (SEC), so he should not be selling securities. Jonna, and Bitcoin Latinum by extension, are currently in a lawsuit alleging securities fraud and misappropriation of funds.īasically, the lawsuit alleges that the three plaintiffs paid for Bitcoin Latinum tokens and did not receive any tokens. It’s a Palo Alto, California based cryptocurrency founded by tech entrepreneur Don Basile with a professional poker player named Kevin Jonna serving as an executive. What is Bitcoin Latinum?īitcoin Latinum was launched in mid-2021 as a fork of Bitcoin. This article will answer all those questions and more. So, what happened to Bitcoin Latinum? Was this project a scam? Is it a good investment? This project has caused quite a bit of controversy and the founder is currently facing an SEC lawsuit for securities fraud, but it generated a lot of attention and was listed on dozens of centralized exchanges (including Binance) at one point. One Bitcoin fork, if you can even call it that, is Bitcoin Latinum. ![]() Developers have disagreements and create their own coin – Bitcoin Cash is the most notable fork and the one that has seen the most success. Bitcoin has seen its fair share of forks over the years.
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