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HitBTC Is The Worst Exchange, says John McAfee

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John McAfee

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

Is Bitcoin Esport Betting the next big thing in BTC Casinos?

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Bitcoin Casinos

Ever since the creation of the first sport games, people started enjoying the betting process. As the sports grew more popular around the world, so did the betting community and other than the physical betting shops, online sportsbooks have also started to emerge. Around 5 years ago the crypto gambling industry also made strides to join the fun and Bitcoin Casino started pouring its resources into providing proper sportsbook experience for their communities of players. For several years the things were steady and the concept of Bitcoin Betting was growing exponentially. Although recent events have significantly halted the progress of sports and betting, the new alternative started gaining traction in the gambling world, and that alternative was the Esport Betting. 

How did Esport Betting become so popular?

The beginning of 2020 was unprecedented for the history of mankind and all the global business, including the gambling industry. In the month of March, most of the sports stopped because of the ongoing global Covid-19 pandemic and betting services witnessed huge losses. That’s where the Bitcoin Casino industry found a viable alternative in the virtual sport segment. Because of that, Esport Betting has become increasingly more popular and the biggest BTC Casinos started providing a huge selection of tournaments in their sportsbook section.

How to participate in Esport Betting?

Esport Betting is basically the same process as the usual sports betting.…

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Bitcoin

Bitcoin is Steadily Changing Our Lives in the Greatest Ways Possible

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Bitcoin

Bitcoin has already brought our world some of the most incredible innovation we have seen, but the best is yet to come. 

Bitcoin, cryptocurrencies, blockchain. While often regarded as mere industry buzzwords are actually the fundamentals of something far greater. Things like borderless currency, decentralized business, open-source software, collaborative technology, shared computing. These are just a scant few of the underlying principles that are taking our technology and daily lives into the future. Should these sciences be embraced, it will be a bright future indeed. 

It has become ever more transparent that humans today are living in fear. If nothing else, 2020 has brought the tidal wave of anxiety and distrust that many live in the shadow of, to a terrifying apex. We are all just waiting for the crash. While some flock to literature, or social media, or their favored news outlet, others flock to exchanges. Using platforms like the newbie friendly Bitvavo to place their bets on the future, on what could be, and what already largely is. Bitcoin and the technology that underpins its innermost workings are a preparation for a better tomorrow. An investment in a future that is already changing our lives today. 

The Point Behind the Hype 

In 2008, when Satoshi Nakamoto wrote the bitcoin white paper, few paid attention. It took years to…

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Bitcoin

AAX Crypto Exchange Announces Massive Growth Numbers in August

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AAX Exchange

As the crypto market continues to surge, new traders continue to enter the market on a daily basis.  One of the first questions that new traders have is where should they trade crypto.  While there are countless options for buying and selling digital assets, traders need to exercise extreme caution and perform due diligence to avoid scam exchanges as well as places that have limited or no volume.  While the main platforms such as Coinbase, Binance, and Bittrex will always have significant volume, their fees are known to be on the expensive side.  AAX, a next-generation cryptocurrency exchange with the lowest futures fees in the world, represents a compelling alternative that traders should consider.

Growth Announcement

A few of the most important issues to consider when deciding whether to use an exchange are the number of users and the volume.  On August 7, AAX announced that in a little over two weeks, the exchange doubled its user base bringing the grand total of registered users to over 200,000.  At this rate, AAX may surpass the million mark later this year which would be an incredible achievement and is most certainly due to a variety of factors including extremely low fees and revolutionary technology.

Institutional-Grade Exchange

When AAX decided to build its platform, it set out to meet the demands of both institutional and retail investors.  In order to achieve that goal, the exchange operates at the highest possible…

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