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HitBTC Is The Worst Exchange, says John McAfee - Global Coin Report
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HitBTC Is The Worst Exchange, says John McAfee

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John McAfee
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John McAfee is undoubtedly a man of the people. He loves his crypto fans. He loves cryptocurrencies and he loves Docademic for its revolutionary concept of making healthcare cheaper, accessible and efficient on the blockchain. But John McAfee does not love the HitBTC exchange at all.

His reason for picking a new fight with HitBTC, is that according to him, the exchange has become what decentralization set out to fight: power. According to McAfee, HitBTC is wielding to much power and has increased the suffering of millions of poor people who cannot afford the minimum buy-in to the exchange since it is greater than their monthly income. The exchange currently charges a fee of 0.0006 BTC on each deposit irrespective of the type of cryptocurrency. This is the equivalent of $4. There are also a bunch of fees at the exchange.

McAfee elaborated this point of view through the tweet below:

A lot of McAfee’s fans agree with his views and observations with regards to the behavior of HitBTC. One Twitter user was quick to comment that once exchanges become popular, they get drunk with power to the point where they disregard the little guys that help them get there in the first place. According to the user, decentralization of exchanges is the only way of getting rid of power hungry exchanges.

Another user expressed how he had a 7 month battle with the exchange just to get his coins back. His tweet was as follows:

After this outcry by McAfee’s fans, he went on to declare total war on HitBTC when he said:

“Hitbtc I will be your worst enemy until you prove that you are aligned with our community and are truly interested in helping the poor. You have not done shit to help access the only free healthcare in the world.”

John would later conduct a survey on his site asking if HitBTC has offered good services. So far, the survey has 80% respondents who said that the service at HitBTC was not that pleasant. The number is sure to go up with time as McAfee continues his crusade against the exchange.

In summary, it seems McAfee has declared that he will take down the system that is corrupt power at the exchange known as HitBTC. By locking out investors who cannot afford the buy-in to trade at the exchange, HitBTC has made an enemy in McAfee who has asked us to boycott the exchange because it is the worst. Perhaps this is why he wants to run for president: so he can fight for the rights of everyone.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Gage Skidmore via Flickr

Bitcoin

Why Bitcoin (BTC) Revival is Likely to Continue

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Bitcoin (BTC) revival
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The cryptocurrency market has been doing rather well in 2019 — certainly much better than in 2018. More than a year ago, the market crashed from its all-time high, and in the months that followed, it lost over 80% of its market cap. Bitcoin (BTC), as the leading digital currency, also dropped from $20,000 per coin to barely $3,200 in 2018.

These days, however, the situation seems to be turning, with digital currencies seeing significant growth in prices ever since mid-February. While January stopped the drops, February is the month when the market once again started seeing gains, and this kind of behavior has continued to this day. But, what does this mean for the future? Is this a passing trend, or is the crypto winter truly over?

The revival of Bitcoin

Questions such as the short-term future of Bitcoin are on many traders’ and investors’ minds right now and have been ever since the prices started growing again. A well-known Futures Now trader, Jim Iuorio, recently stated that Bitcoin would start seeing massive profits if it surpasses the price of $4,045. That was, of course, before the coin surged by around $1000 in the last week.

However, Iuorio’s prediction was that BTC is unlikely to go below $3,820, while the growth beyond $4,045 would mean massive gains for those involved with the industry. Soon after this prediction…

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Bitcoin

How to Become a Millionaire without Risking Everything with Bitcoin

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Bitcoin
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It’s been well over a year since the crypto market reached its peak and then crashed, dropping to such lows that most of the coins lost anywhere between 80% and 95% of their value. A few of them lost even more. Of course, this was not enough to eradicate the crypto market, and the bulls are still as optimistic as ever, especially these days, when Bitcoin price surges again, taking the rest of the market with it.

Some predictions claim that Bitcoin will reach its own glory days within a year or two, and there are even speculations that the largest cryptocurrency might spike up to $100,000 per coin. One claim from last week even sees BTC hitting $400,000, as the highest price which someone was brave enough to predict.

While it is certainly possible — at this point, pretty much anything is — not everyone is willing to take such a gamble and invest their hard-earned money into a risky asset such as digital currencies. With that in mind, here are three alternatives that are considerably safer than Bitcoin and the altcoins.

1. Investing and re-investing in stocks

A lot of people — especially younger generations — find stocks to be incredibly boring. Most of the time, all you do is invest, and use the returns for re-investing in high-yielding shares. However, while boring will not…

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Bitcoin

The Best Time to Buy Bitcoin (BTC) Approaches

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Buy Bitcoin
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Ever since 2019 started, the bear market of 2018 has been losing momentum, with the bulls emerging numerous times in short intervals. This was the beginning of a crypto recovery, which still has quite a long way to go.

However, last week, Bitcoin saw massive growth in transactions, reaching a 14-month high. These were the levels that were previously seen back in 2017, as BTC approached its highest point in terms of price. The growth also reflected strongly on BTC price, which spiked yesterday from around $4.100 to the current $4,672.

Meanwhile, Bitcoin market cap followed as well, currently sitting above $82.3 billion, while the trading volume exceeded $14.5 billion.

What caused the growth?

While this is an exceptional growth, and potentially a start of the bull run that everyone was waiting for, it did not come without a cause. One of the reasons why BTC surged was last week’s Weiss Ratings report of multiple different cryptocurrencies. The report’s authors even stated themselves that the best time to invest might be very near at this point.

Weiss Ratings has done reports about specific coins in the past as well, and this time, they noticed a significant improvement in coins’ performance. The report mentions growth in user transaction volume, network capacity, as well as network security, which the authors took as an improvement coming from the evolution of the…

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