John McAfee: The crypto ninja fighting crypto scams and sky-rocketing fees
Crypto genius John McAfee, among his many ventures, is at the moment striving to eradicate the unwanted zooming fees and authority of centralized exchanges. He shared his views about the same in an interview with CCN. In the interview, he further shared the particulars of his strategic advancement in bringing out scams that go on in cryptocurrency exchanges.
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McAfee fighting scams
The fact that several exchanges “are not accountable to anyone and exit scam with people’s funds with no repercussions,” worries McAfee. “Many don’t even have an address or President and you can’t find who’s behind the exchange.”
Reflecting upon the plight of the exchange users, he wants to side with the ill-equipped exchange users and help them out of the trauma. To do so, he will be accepting complaints to the website’s hosting provider.
Raising voice against centralized exchanges
Last month, he publicly went vocal about his row with the U.S. Securities and Exchange Commission (SEC) over ICO promotions. The ardent enthusiast of decentralization, also shared his opinion about the adverse effects of centralized exchanges. He strongly believes that decentralizing exchanges will eradicate the concept of single ownership and distribute it among many. He is of the opinion that with the implementation of decentralization, even “If a user is forced off the exchange, everyone can still trade. They have the blockchain and trading platform on their devices still.”
Explaining further about the hindrance of a centralized exchange, he added: “Centralized exchanges can be shut down at any moment by a country’s government or legislators. They can just show up at the office and shut it down whenever they want at any time. Customers would be left in a tough spot if this occurred.”
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