A Writer and YouTube-Blogger Matthew Lescot Calls Cryptocurrency Trickery

A Writer and YouTube-Blogger Matthew Lescot Calls Cryptocurrency Trickery

Matthew Lesko is a US writer, author of books on how to get “free money” from the US government, who made a name for himself in the 1990s, claims in an interview with CNET that cryptocurrencies are fraud and bitcoins are deceptive.

Lesko is the owner of his own site, he has a channel on YouTube with various podcasts dedicated to the topic of receiving federal grants from the US government. He says that “many people are interested” in blockchain and cryptocurrencies in general. So Lesko recommends such people to “stay away” from the world of cryptocurrencies, if they “have no money to lose.”

Matthew Lesko considers cryptocurrency to be a hoax because in his opinion it is not backed up and regulated, unlike the US dollar. He believes that:

“If there’s no regulation, you get screwed”.

Back in 2004 the New York Division of Consumer Protection criticized Lesko’s advertising companies for the fact that many of the readers did not receive the promised “free money.” According to Lesko himself, the current PR-campaigns conducted to promote this or that project in the field of cryptocurrency are implementing exactly the same “exaggeration” that the writer used in his commercials of the book “Free money to change your life”.

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Cryptocurrency Prices: The Rating Is in the Red Zone

Cryptocurrency Prices: The Rating Is in the Red Zone

According to the trading portal Coinmarketcap.com, Bitcoin (BTC) fell by 2.27% in the last 24 hours. The price at the time of writing is $8122.

The prices of cryptocurrencies are jumping again. Only yesterday they were growing, but today the rating is showing red numbers again. Ripple decreased by 3.27%, Monero lost 6.31%, Stellar fell by 5.10%, the price of EOS is also in the red zone – it dropped by 2.76%.

Ethereum is showing a fall by 2.95%. Its value at the time of writing is $682 per coin.

The total market capitalization is $370 billion. Bitcoin accounts for 37.3% of the total amount. It is $138 billion in monetary terms.

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The Japanese bank MUFG Will Launch Its Own Cryptocurrency

The Japanese bank MUFG Will Launch Its Own Cryptocurrency

After loud statements by Buffett and Gates concerning cryptocurrency, it seemed that at least the state institutions of countries would refuse from it, but a Japanese bank Mitsubishi UFJ Financial Group still decided to acquire its own cryptocurrency, MUFG Coin, in 2019.

“Regarding the speculation (in) media reports, these reports are not based on any announcement by MUFG, and the details have not been decided,” the bank’s spokesman said in an emailed statement to Reuters. “However we can only say that it’s true that MUFG is conducting demonstration experiments on the ‘Coin’ within the company utilizing a blockchain technology.”

According to NHK Japan, the digital currency MUFG Coin will be tested for suitability in several regions of the country. 100,000 people who are associated with the company will be able to participate.

Representatives of the bank will provide an opportunity for users to use the cryptocurrency as a means to pay for goods and services in shops and institutions. The bank’s digital currency can be transferred to the accounts of those who participate in the project. If the idea is successful, then MUFG will be the first Japanese bank that has its own digital currency.

The MUFG coin can be used exclusively in Japan. In the world market it can be traded in pairs at non-financial currency exchanges instead of USTD (Tether cryptocurrency, tied to the dollar).

Those people who have downloaded and installed an application that automatically converts deposits into MUFG Coin will be able to take part in the test of the new currency. The cost of one coin is equal to one yen.

We remind you that the management of Mitsubishi UFJ Financial Group announced its intention to launch a  cryptocurrency exchange with the national currency, as well as a service with split Bitcoin-accounts.

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