Connect with us

Altcoins

A libertarian – John McAfee is not sure of the need for regulations

Sthuthie Murthy

Published

on

A libertarian - John McAfee is not sure of the need for regulations
Source: Max Pixel

John McAfee, the world’s leading security expert and a great online influencer sat down for an interview with Ovenized Oscillator from Crypto world news where he spoke about the current state of cryptocurrencies in terms of regulations and other things.

Is a regulation necessary or beneficial?

“Keep in mind politically I am libertarian so, I do not hold any regulations as individuals we are required to be self-regulated,” began McAfee.

If anybody signs up for an ICO that turns out to be a Nigerian scam, it is not their fault or in fact anybody else’s. That is how smart those companies are and hence it is in the user’s hand to protect themselves and not depend on the government to protect them from their stupidity or lack of willingness, John explained his opinion.

He stated:

“Life is not a safe affair, it has never been. There are risks, it’s far more life-supporting to accept those risks than to delegate your safety to some outside agency which really cannot protect you.”

Can regulations help in some ways at least a little bit?

I am not sure said, John, as he explained the whole concept according to him, the SEC continues to insist that coins are securities, they are not. By definition, I own a piece of action i.e. in theory, if I own 1% of a company, I own 1% of everything in the company. If I buy Bitcoin, does Satoshi owe me something or is there a company behind that you owe to? No, I would say it is a look-alike. Do these things need to be regulated? It’s one-way and I am not sure which type of regulation makes any sense.

What can people possibly do to jump a group of horrible ICO scam projects?

According to the speaker, John, the Internet is the greatest tool that was ever created like with the blogs, chat rooms, etc. If one is interested in an ICO, he suggests they go and read about them. There are a lot of channels and groups available where anybody can see what people are talking about it, analyze it regarding the founders, creators, open-source project, experience in the past and it is all basically huge common sense. The best way is to join the community and talk with others before jumping into any conclusion.

D-Tech Analytics, a YouTuber commented:

“Great interview. I totally agree with Mr. McAfee’s view on regulations. Regulations didn’t stop those scammed by Madoff, Bernard Ebbers or Kenneth Lay all multi-billion-dollar scams. If the same regulations that are applied to stocks get applied to crypto, the majority of the US crypto traders couldn’t continue to day trade due to the Pattern Trader Regulations. Be careful what you wish for.”

Nick Kuhl, a viewer says:

“He speaks the truth about regulations. And of course, he is quite bright. Just give the man a break when dope is just kicking in… lol.”

loading…




Follow us on Telegram | Twitter | Facebook



Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

Altcoins

‘The U.S SEC must regulate the cryptocurrency market to eliminate the bad actors’ – says Ran Neu Ner

Laira Rebecca

Published

on

‘The U.S SEC must regulate the cryptocurrency market to eliminate the bad actors’ - says Ran Neu Ner, the CNBC host
Source: Max Pixel

CNBC Fast Money, hosted by Melissa Lee, had Ran Neu Ner as the guest this time. Ran Neu Ner is a famous host of CNBC Africa’s Crypto Trader show and is the Founder of OnChain Capital.

The main topic of discussion was about “Is cryptocurrency market being manipulated?”

According to Ran, in the past, it was easier to manipulate the cryptocurrency market because there were a very few exchanges, a few on-ramps, and off-ramps. However, today with an overall market cap of $330 billion, it is a bit more difficult, because there are many exchanges and the volume of the digital currencies are much higher.

He also mentioned about the recent tweets that exposed a group, who is manipulating small penny tokens and how they got exposed for manipulating small e-liquid tokens.

Melissa further raised a doubt about how the market manipulation is occurring in deepest markets like London Interbank Offered Rate [LIBOR] and compared it with the U.S cryptocurrency market.

Ran mentioned that he is not sure about it, because the U.S. Securities and Exchange Commission [SEC] has not regulated Bitcoin and other cryptocurrencies.

Therefore, there are no regulated acts, under which the illegal terms can be questioned.

He says:

“what is the problem of driving the prices up? It is illegal in terms of what act? We are not a currency, not a commodity, we don’t know what we are.”

Further, they discussed, due to the uncertain market values of BTC and other coins, should the traders be cautious about what the SEC, U.S. Commodity Futures Trading Commission [CFTC] or the U.S Department of Justice [DOJ] is going to look at.

Ran says, when the SEC and other organizations come up with regulations, it is going to open the floodgates for new money to come in. He thinks that regulations are eminent and he expects SEC to quote new regulations for cryptocurrency and hopes that everyone will follow it.

Also, he mentioned that he would encourage crackdowns because they can catch the bad actors who create a lack of trust. To obtain a real asset class with real people, eliminating bad actors is very important.

Ran believes that people across the U.S are waiting for the guidance of SEC and they have a huge part to play in regulating cryptocurrencies, while other countries are already looking into various aspects of cryptocurrency and have started accepting them.

A cryptocurrency enthusiast says:

Always an interesting conversation when it comes to manipulation. The #Silver market has had a conspiracy theory about being manipulated for more than 10 years.”

Anthony Matthew, a business analyst says:

“BTCUSD barely broke lower than 7500 all day, despite well-known news of cryptotrade manipulation and DOJ + CFTC investigation.  I feel like I am trading in the stock market again, so I am buying Bitcoin at 7500.”

A cryptocurrency miner named Chad commented:

“Maybe the DOJ and @CFTC will crack down on manipulative paid Roger Ver shilling appearances too”

loading…


Continue Reading

Altcoins

TRON [TRX] partners with vSport to launch world’s first Soccer Blockchain

Prerana Sarkar

Published

on

TRON partners with vSport to launch world's first Soccer Blockchain
Source: Pixabay

On May 25, Justin Sun announced that TRON and vSport have come up with a partnership where the two companies can support each other in the development of the soccer industry’s blockchain technology by sharing content and creating communities that shall increase its reach.

vSport aims to build a sports ecosystem with cross-partnerships with leading networks’ like TRON along with authorized distributors of the World Cup and make payments easier and more scalable. This project is dedicated to creating a public chain for the Global Sports Industry. It is expected to be the world’s first non-profitable blockchain platform, involving tokens.

Qiang Bai, an artificial intelligence entrepreneur who is the mastermind behind the creation of vSport has paired with the famous Dutch footballer Wesley Sneijder. This collaboration also involves the world’s largest sports social media powerhouse 433, and China’s Sport8 which is a successful sports educational platform.

After the launch in Singapore, vSport co-founder, Wesley was quoted as saying:

“I believe Blockchain can help to bring balance to the economics of sports. That is why we launched our sports-chain project. I’m excited to see an open and decentralised sports community that focuses on fans first.”

Both the parties have come to an agreement on sharing its collaborative techniques, resources, and energy to create a decentralized web platform to make the blockchain technology more mainstream. The TRON community believes in rewards for all the people contributing to its progress. A special community is going to conduct an assessment of the participant’s contribution based on which TRX tokens, TRON merchandises like t-shirts and gifts will be offered.

Justin Sun, the Founder of TRON, has put out his views stating:

“Soccer is the biggest sport in the world. It has the largest fan base, and the community has always had a keen sense and great enthusiasm for new things. Combining soccer and sports in general, with blockchain technology will effectively expand community support for blockchain. This will provide people with an enhanced experience of blockchain and even change their lifestyles.”

He mentioned Wesley Sneijder, the former Netherlands national team footballer who Justin claimed to have helped in heading soccer-related projects off the field. He then spoke of him as:

“Wesley Sneijder, who not only helped the Netherlands dominate the field, but also has spearheaded soccer-related projects off the field. As a fast learner that embraces blockchain technology, it’s likely that Wesley will completely change the structure of the soccer ecosystem through this initiative. TRON very much looks forward to this partnership.”

Today he posted on Twitter saying:

 

The TRON protocol provides one of the most scalable operating systems in the world with its blockchain technology. It enables users with large-scale data transmission with a promise of more than 10,000 transactions per second. They also have the feature of smart contracts for crowdfunding and issuing more digital assets.

One Twitter user supports the partnership by replying:

vSport now holds a large traffic with more than 30 million sports enthusiasts and 15 million supporters from China. The 2018 Russia World Cup is scheduled to open on the 14th of June, gaining more importance in what was announced today. TRON and vSport will work towards creating a blockchain based ‘soccer results forecasting platform’ for better quality entertainment for its fans.

According to Qiang Bai:

“With sports models of the past, it is hard for fans to get rewards in exchange for their enthusiasm and contributions, which causes serious imbalance in the value structure. Collaborating with TRON allows us to join forces with another strong company, leveraging our soccer and sports resources to solve difficult soccer and sports industry-related issues. We will work together to build and nurture a healthy soccer and sports ecosystem. I believe this will be a great way to give back to soccer fans around the world.”

loading…


Continue Reading

Trending