Recently, the CEO of Bitcoin.com, Roger Ver was in conversation with the Founder of McAfee Software Company, John McAfee. They discussed HitBTC, one of the leading cryptocurrency exchange platforms around the globe, and the problems faced by its customers.
McAfee started off by saying that blockchain can be implemented in several industries. He believes that if blockchain had existed since the “beginning of time”, people would have a different history to narrate.
To which Roger Ver added:
“I heard one person say that the beginning of the blockchain was the true beginning of recorded history”
The famous cryptocurrency influencer further touched upon the struggle a few people within the cryptocurrency community are facing with the digital exchange platform, HitBTC.
McAfee believes that HitBTC is a criminal organization that is stealing people’s money. He added that if a HitBTC user were to accuse the platform of stealing their money, people would not know where to go as the location of HitBTC remains unknown.
But because of the blockchain, all the HitBTC user has to do is show the Ether scans as proof that their money was stolen. McAfee stated:
“We have a record of the truth that is on the blockchain. We all know the truth and we accept it. If you know that if you sent your money to HitBTC, they’re likely to either steal it or keep it for months doing God knows what with it before they give it back.”
McAfee confirms that this procedure is the best way of getting rid of platforms that launder money. Once the cryptocurrency community knows about the truth of a platform that launders money, everybody would stop using it, he added.
Roger Ver in reply to the comment stated:
“The market punishes them. If people in the market think that the regulators are watching everything and licensing everything and that they don’t have to worry or do any due diligence in any of the businesses as everything would be taken care of. That’s called moral hazard.”
Roger Ver further stated that if this was not the case and if investors were more careful, they would be paying much more attention to their transactions to make sure they weren’t being robbed.
Subscribe to AMBCrypto’s Newsletter
Bitcoin [BTC] developer Jimmy Song lists 3 reasons why Bitcoin SV [BSV] is a “scam”
Ethereum [ETH/USD] Price Analysis: Coin stands tall with the bull by its side
SEC could include Bitwise’s Bitcoin ETF in federal registers; proposal under review for approval
XRP, BAT and Dash among the most popular cryptocurrencies for Uphold users
Tron [TRX] Price Analysis: Coin struggles as bear continue to control the market
Ripple/XRP: XRP will soon hit Abra cryptocurrency platform, confirms CEO Bill Barhydt
DigiByte community gears up for Global Summit while founder Jared Tate finalises book on decentralized internet
Tron [TRX]’s Justin Sun sets up Valentines day surprise for Ethereum [ETH]’s Vitalik Buterin
After Bitcoin [BTC] ETF silver lining, SEC puts forth circular on ICOs
Ethereum [ETH] could have been stolen through malware impersonating MetaMask
Bitcoin [BTC] among cryptocurrencies enabled by new debit card launched by Australian Crypto exchange
Nouriel Roubini says JP Morgan’s cryptocurrency JPM Coin is a joke; compares it to XRP
Ethereum [ETH] mining rewards breach lowest levels ever as average difficulty spikes
Coinbase steps up Bug Bounty program; rewards hacker $30,000 for critical bug detection