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:
The crypto exchanges have become the thing that we have originally fought against. Their power is immense. Hitbtc, for example, has increased suffering for millions of poor people who cannot afford the minimum buy-in since it is greater than their monthly income. Boycott them.
— John McAfee (@officialmcafee) June 28, 2018
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:
HitBTC are professional Crooks! I have been fighting with them to get my coins back and it took me 7 fcking months on which I had to listen tons of lies from them. Stay away from HitBTC!
— Matt Ag (@matteios) June 28, 2018
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.
For the latest cryptocurrency news, join our Telegram!
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 Surges After Tesla Bought $1.5 Billion Worth of BTC
The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.
The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.
Musk’s Tweets also impacted Dogecoin’s price
Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.
He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.
But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Wisebitcoin Launches Professional-Grade Crypto Exchange
Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.
In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.
For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750.
Beyond leverage, Wisebitcoin additionally offers a simple and…