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Jeffrey Francis

Articles by Jeffrey Francis

Shark Tank’s Mark Cuban Disses Bitcoin Once Again

December 10, 2019

Mark Cuban has made a fortune by investing in innovative technologies, but this doesn’t mean he loves everything new that comes along. Case in point is cryptocurrency as the billionaire has made his disdain of virtual currencies clear. In an interview with Forbes, he said there is “no chance” that Bitcoin will ever be used as a reliable form of money.Not a FanForbes asked the Shark Tank star if he ever envisioned a future scenario where BTC would be used in a standard, everyday manner. He said he did not due to challenges facing the world’s foremost cryptocurrency.He said that Bitcoin is “too difficult to use, too easy to hack, way too easy to lose, too hard to understand, too hard to assess value.” Cuban went on to say that it is “too much work” for ordinary people to understand why they

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Approaching 2020: Why The World Needs Bitcoin More Than Ever (Op-Ed)

November 23, 2019

We live in a paradoxical world in that it is both expanding and shrinking at the same time. The rise of high-speed internet allows us to instantly communicate across the globe, stream movies and TV shows, shop from the comfort of our couch, dig through the archives of famous museums and libraries, and watch events in other countries unfold in real-time. The flip-side of such openness is that a small number of corporations are increasing their stranglehold on how we live our lives. As such, Bitcoin is now more vital than ever.Increasing DeplatformingMany people now rely on the internet to make their living, such as selling art on Etsy, making YouTube videos, streaming games on Twitch, or selling items on eBay. The crux of such endeavors is being able to receive payments. One popular site is

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CFTC Chairman Bullish on Bitcoin and Blockchain

November 20, 2019

The last couple of years have seen national governments grappling with how to regulate Bitcoin and other cryptocurrencies. Some of them have been hostile to virtual currencies while others have been more accepting. The United States is no exception to this difficulty, but the Commodity Futures Trading Commission (CFTC) is one federal agency that is actually supportive of Bitcoin and blockchain. This bullish view was reinforced by CFTC Chairman Heath Tarbert when he appeared on CNBC’s “The Exchange” yesterday.Understands BitcoinMany government financial officials around the world have been openly hostile towards Bitcoin, but CFTC Chairman Heath Tarbert wants to see the cryptocurrency thrive. He expressed the view that his agency is concerned with the regulation in regards to anti-money

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OneCoin $4 Billion Ponzi Scheme: Founder’s Brother Eyes 90 Years in Jail

November 14, 2019

The cryptocurrency ecosystem is no stranger to scams and pyramid schemes. Exciting new technology, coupled with dramatically rising prices a few years ago, helped lure people into get-rich-quick schemes that only served to part them from their hard-earned money. One of the biggest cryptocurrency scams is OneCoin, which managed to take in almost US$4 billion. Now the OneCoin saga takes another turn as the brother of the cryptocurrency’s founder has pleaded guilty to money laundering and fraud charges in the United States.Win for Law EnforcementOneCoin was created by Ruja Ignatova in Bulgaria in 2014. The cryptocurrency saw remarkable success, shooting up in value from 29 euro cents to a stunning 29.95 euros from late 2014 to late 2016. The entire operation took in almost $4 billion, but the

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Anonymous Donating $75 Million in Bitcoin to Startups Protecting Online Anonymity

November 13, 2019

The world is increasingly becoming a smaller place due to the evolution of technology. The internet and streaming allow for instantaneous communication, and people can virtually congregate to watch movies, sporting events, and even video game matches. However, the rise in technology and communication has led to a loss of privacy. Anonymous is seeking to protect the privacy of the individual in this digital age, and they’re putting their money where their mouth is. The group has announced the launch of its Unknown Fund that will donate US$75 million in Bitcoin to startups that directly or indirectly support the idea of anonymity.Defending AnonymityThe Unknown Fund says they view the “protection of the personal data as one of the main challenges” facing the individual during these modern

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Doesn’t Wait For Libra: Facebook Introduces Facebook Pay

November 12, 2019

Facebook has faced a maelstrom of criticism ever since it announced the Libra cryptocurrency. Lawmakers and bankers have been quite vocal in their negative views towards the developing stablecoin. However, it seems that Facebook is not waiting for Libra to launch a global payment platform as they have now introduced Facebook Pay.Cross-Platform PaymentsFacebook Pay is not a virtual currency. It is a payment system that uses credit cards, debit cards, and PayPal as options.Users can use Facebook Pay to buy items from shops, send money to other users, and donate to charity. The payments system can be used across the stable of apps associated with Facebook: Messenger, Facebook, WhatsApp, and Instagram. The payments will be processed on existing platforms, such as Stripe and PayPal.Facebook Pay

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