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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

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

The rise of the crypto casinos

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crypto casinos
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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of…

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