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John McAfee, Ripple (XRP) and the SEC

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John McAfee
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Known for his well-timed predictions (and their explosive results) within the cryptocurrency community, John McAfee is in the headlines again, going underground as the Securities and Exchange Commission (SEC) attempts to silence his voice. A vocal critic of the SEC, McAfee has taken to Twitter to update his followers on current developments as the SEC has allegedly infiltrated his property, disturbing McAffee’s peace and forcing the hand of a man most famously known for his wild Bitcoin predictions.

Perhaps the most vocal and angry critic of the SEC, McAfee has spoken out numerous times concerning the commission’s actions to destroy value in the market. Now, with an increase in suspicious activity happening around his home in Tennessee, his twitter feed has lit up with the dramatic unfolding of this newest dilemma. With the entire story unfolding via social media, we need to look no further than Twitter and Youtube for updates. The official story, however, has been told by Rob Loggia on his increasingly popular website.

While easily passed off as paranoid by the mainstream media, McAfee’s security detail sees current developments differently. As an example, Jimmy Watson, a former Navy Seal hired by McAfee for protection has stated,

“All of my instincts point in one direction. We’ve had a white single-engine plane circle the property at low altitude for almost an hour. It has visited us several times. That’s not normal.”

Other abnormal instances include vehicles with passengers trying to obscure their faces as they take off at high speed, and apparent human activity leaving traces in the tall grass surrounding McAfee’s home. Needless to say, McAffee has felt it necessary to leave the safety of his cul de sac, and reveal his truths from an undisclosed location, traveling via armed motorcade.

While there is no direct connection to the recent visits and the SEC, McAfee is again speaking out against the commission and its overwhelming intrusions into our civil liberties. Having been targeted by the commission in the past, McAfee believes it is them making life difficult once again.

The SEC has made headlines recently with their meddling into the affairs of a few big-name cryptocurrencies. Ripple (XRP) has now been targeted and is quickly mounting a defense (or at least creating a new logo) to distance the currency (XRP) from Ripple the company. The SEC is waiting to make up its mind as what truly constitutes a security in the crypto-universe, and the fate of Ripple’s (XRP) value is again held in limbo to the consternation of hodlers across the market.

While the SEC intrusion makes waves through the daily headlines of our favorite crypto news sites, its decision (either way) speaks volumes to McAfee’s discussion on the commission’s overreach. And while the verdict is yet to officially come out, the damage is being done in front of our eyes, as the SEC once again affects the value of Ripple (XRP) and the market as a whole.

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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

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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