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Author Topic: McAfee-Supported DEX challenges Centralized Exchanges.  (Read 122 times)
Uddhamchand14
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April 06, 2019, 08:08:15 PM
 #1

Last week, Bithumb lost nearly $20 million in cryptocurrencies due to a hack. This was the second time Bithumb, one of the largest exchanges in the world, was hacked in a 12-month period. Just a few months prior to this, QuadrigaCX, the leading exchange in Canada, lost access to its users’ funds as its founder and CEO, who was the only person with access to the exchange’s Crypto storage, suspiciously died on a foreign trip.

With the exchange's CEO being the only person with access to private keys, the exchange has been unable to return funds to users.

Given the growing problems faced by centralized exchanges, Switch.ag, a platform designed to enable users to anonymously switch Ethereum or any ERC-20 token for other ERC-20 tokens, gift cards, or charitable giving, has launched a DEX. SwitchDex, which allows users to trade ERC-20 tokens with Ethereum, has seen support among prominent people in the Crypto space, including John McAfee.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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April 07, 2019, 09:30:24 PM
Merited by Jating (1), o_e_l_e_o (1)
 #2

Support from John McAfee? It doesn't mean anything to be honest with you. We all know that John shills for anything that is willing to pay him in 6 digits.

I agree that there are a lot of hacks and it's really hard to prevent it as hackers is always one step of the game, but I don't know if you product is the solution though. I haven't heard SwitchDex, and maybe you can put it in the appropriate board so that you will get exposure, Exchanges.

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April 08, 2019, 04:42:21 AM
 #3

There are a lot of DEX already in the market and I don't see anything special just because McAfee is 'supporting' it. I search about this exchange so it's fairly new, so I understand who's better to get to shill for them but McAfee himself. Damn, another easy money for John here, LOL. And only time can tell if the money they shell out to McAfee is worth or not.

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April 08, 2019, 06:38:13 PM
 #4

I do not know who promotes this site? Is it you @hatu? Or did you copy and paste from this article ----> McAfee-Supported DEX challenges Centralized Exchanges.?

Be aware that site ----> https://switch.ag/ is a SCAM real one -----> https://switchdex.ag/

Supporting an individual does not necessarily mean that he is successful, especially from someone like McAfee, who uses his name to increase his fame in some sites and thus raises more money.
Also, I do not think the platform provides privacy.

Edit: It’s my wrong.

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April 08, 2019, 08:11:55 PM
 #5

I read about this the other day. They have a plan to allow a one time payment of (I think) $20 to forever remove all fees for that account. I completely avoid all new exchanges for security reasons, but that caught my eye. I can imagine it being very popular with big traders.

On a separate note, how long will it be before people realize that using the name "John McAfee" does your project more harm than good? He will shill anything that pays him, his twitter is filled with recommendations for dead and dying coins, his "unhackable" wallet was hacked within days of release, and he is a scammer and a criminal. No smart crypto user would go near anything McAfee is actively promoting.

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April 09, 2019, 04:38:21 PM
 #6

I read about this the other day. They have a plan to allow a one time payment of (I think) $20 to forever remove all fees for that account. I completely avoid all new exchanges for security reasons, but that caught my eye. I can imagine it being very popular with big traders.

On a separate note, how long will it be before people realize that using the name "John McAfee" does your project more harm than good? He will shill anything that pays him, his twitter is filled with recommendations for dead and dying coins, his "unhackable" wallet was hacked within days of release, and he is a scammer and a criminal. No smart crypto user would go near anything McAfee is actively promoting.
People nowadays are already done on the things he do in the past and now saying up things wont really be an important or a serious matter anymore.Mostly
will just reject nor ignore again on what hes trying to say again.Its just actually right if you are smart but if not then you are still following just a stupid sheep.

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Mahanton
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April 09, 2019, 08:30:45 PM
 #7

There are a lot of DEX already in the market and I don't see anything special just because McAfee is 'supporting' it. I search about this exchange so it's fairly new, so I understand who's better to get to shill for them but McAfee himself. Damn, another easy money for John here, LOL. And only time can tell if the money they shell out to McAfee is worth or not.
They will realized later on that they feel like they are being robbed. Cheesy

This Mcafee guy do really likes to troll anytime, shilling out things which arent really needed to be shilled out yet most people are way more knowledgeable that him when it regards to cryptofield.

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April 12, 2019, 09:41:32 AM
 #8

There are a lot of DEX already in the market and I don't see anything special just because McAfee is 'supporting' it. I search about this exchange so it's fairly new, so I understand who's better to get to shill for them but McAfee himself. Damn, another easy money for John here, LOL. And only time can tell if the money they shell out to McAfee is worth or not.
They will realized later on that they feel like they are being robbed. Cheesy

This Mcafee guy do really likes to troll anytime, shilling out things which arent really needed to be shilled out yet most people are way more knowledgeable that him when it regards to cryptofield.

That works for him so I think he will continue to troll and shill in the community. He promoted a wallet that's supposedly unhackable but then someone breach it. I can't remember maybe about a year ago he says that his twitter account gets hacked or something.

But the is the start of his 'coin of the day' shilling. So obviously, his character is really being questioned, but I don't know why people still love this guy though.

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April 12, 2019, 10:56:28 AM
 #9

this title: " McAfee-Supported DEX challenges Centralized Exchanges.  "

reminded me of this: John McAfee Charges $105,000 Per Tweet For Promoting Cryptocurrency Projects

and he wants to run as president in 2022

McAfee to Lead 2020 Presidential Campaign ‘in Exile’ After Alleged IRS Indictment

look how he is capable of destroying his own reputation

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April 12, 2019, 12:59:02 PM
 #10

There are a lot of DEX already in the market and I don't see anything special just because McAfee is 'supporting' it. I search about this exchange so it's fairly new, so I understand who's better to get to shill for them but McAfee himself. Damn, another easy money for John here, LOL. And only time can tell if the money they shell out to McAfee is worth or not.
They will realized later on that they feel like they are being robbed. Cheesy

I think people really wanted to be robbed by John McAfee.  Grin

This Mcafee guy do really likes to troll anytime, shilling out things which arent really needed to be shilled out yet most people are way more knowledgeable that him when it regards to cryptofield.

Yeah, specially what @Slow death has posted above, running for the Presidency of the United States? Who is going to vote for him? He has been unmasked already and I don't know why the heck crypto community are still attach to his enigma. He has no reputation at all and not to be trusted.

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April 12, 2019, 08:59:31 PM
 #11

There are a lot of DEX already in the market and I don't see anything special just because McAfee is 'supporting' it. I search about this exchange so it's fairly new, so I understand who's better to get to shill for them but McAfee himself. Damn, another easy money for John here, LOL. And only time can tell if the money they shell out to McAfee is worth or not.
They will realized later on that they feel like they are being robbed. Cheesy

I think people really wanted to be robbed by John McAfee.  Grin

This Mcafee guy do really likes to troll anytime, shilling out things which arent really needed to be shilled out yet most people are way more knowledgeable that him when it regards to cryptofield.

Yeah, specially what @Slow death has posted above, running for the Presidency of the United States? Who is going to vote for him? He has been unmasked already and I don't know why the heck crypto community are still attach to his enigma. He has no reputation at all and not to be trusted.

95% Haters and 5% supporters.I dont know if McAfee do realizes that thing? Even we do know that smart people are high on numbers but there are really dumb ones that do still invest on what he do chills out.
This makes him to earn some good digits thats why he do still continue to do this foolishness.

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April 13, 2019, 08:44:16 AM
 #12

There are a lot of DEX already in the market and I don't see anything special just because McAfee is 'supporting' it. I search about this exchange so it's fairly new, so I understand who's better to get to shill for them but McAfee himself. Damn, another easy money for John here, LOL. And only time can tell if the money they shell out to McAfee is worth or not.
They will realized later on that they feel like they are being robbed. Cheesy

I think people really wanted to be robbed by John McAfee.  Grin

This Mcafee guy do really likes to troll anytime, shilling out things which arent really needed to be shilled out yet most people are way more knowledgeable that him when it regards to cryptofield.

Yeah, specially what @Slow death has posted above, running for the Presidency of the United States? Who is going to vote for him? He has been unmasked already and I don't know why the heck crypto community are still attach to his enigma. He has no reputation at all and not to be trusted.

95% Haters and 5% supporters.I dont know if McAfee do realizes that thing? Even we do know that smart people are high on numbers but there are really dumb ones that do still invest on what he do chills out.
This makes him to earn some good digits thats why he do still continue to do this foolishness.

I'm sure he knows that, and he is just laughing his ass off when someone decided to pay him a chunk of money just to shill for their coins. Grin

That's why he continue to do so because there's a lot of gullible people in the crypto industry who are willing to pay him eventhough at the surface they really know that they are gambling with their money whether they can get it back from Mcafee promotions or not.

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buwaytress
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April 13, 2019, 01:00:19 PM
 #13

I read about this the other day. They have a plan to allow a one time payment of (I think) $20 to forever remove all fees for that account. I completely avoid all new exchanges for security reasons, but that caught my eye. I can imagine it being very popular with big traders.

On a separate note, how long will it be before people realize that using the name "John McAfee" does your project more harm than good? He will shill anything that pays him, his twitter is filled with recommendations for dead and dying coins, his "unhackable" wallet was hacked within days of release, and he is a scammer and a criminal. No smart crypto user would go near anything McAfee is actively promoting.

This never fails to get me every time I think about it too. Good for him and his success but it's not rational.

And the fact that most of these were true even before he became prominent on Twitter (him being disreputable, I mean). And even with all his crap recommendations, people still looked up to him, projects still sought him out at conferences, and he's still running a successful pay-for-Tweet programme. I guess his influence hasn't waned, and there really are suckers born every minute.

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April 13, 2019, 03:11:20 PM
 #14

I guess his influence hasn't waned, and there really are suckers born every minute.
This is it. Get your project to be tweeted or otherwise talked about by McAfee, and you can be sure of two things: The price will jump in the next 12 hours, and everyone with even a small amount of technical knowledge or even just common sense will steer well clear. It's like a last chance for failed project owners to dump their bags before their coin finally dies.

You can see it with almost all of this "coin of the day" nonsense around December 2017. Looks at coins like Humaniq, Reddcoin, and Burst. He tweets about them, price pumps 100-200% in 24 hours, then dumps hard, and has done nothing but slowly die since then. Look at Skycoin if you want a real laugh, and remind yourself he has a tattoo of their logo on his back.

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April 14, 2019, 11:43:25 PM
 #15

Last week, Bithumb lost nearly $20 million in cryptocurrencies due to a hack. This was the second time Bithumb, one of the largest exchanges in the world, was hacked in a 12-month period. Just a few months prior to this, QuadrigaCX, the leading exchange in Canada, lost access to its users’ funds as its founder and CEO, who was the only person with access to the exchange’s Crypto storage, suspiciously died on a foreign trip.

With the exchange's CEO being the only person with access to private keys, the exchange has been unable to return funds to users.

Given the growing problems faced by centralized exchanges, Switch.ag, a platform designed to enable users to anonymously switch Ethereum or any ERC-20 token for other ERC-20 tokens, gift cards, or charitable giving, has launched a DEX. SwitchDex, which allows users to trade ERC-20 tokens with Ethereum, has seen support among prominent people in the Crypto space, including John McAfee.

There are obvious flaws to centralised exchanges such as this, which would lead anyone with some sense to try keep funds on central platforms for as little time as possible.

But there are reasons why decentralised exchanges have not really been able to succeed yet, and that includes the fact that there is a lack of liquidity and functionality for the majority of the decentralised exchanges that exist. Also, oftentimes they are just to complex to figure out for the newbie that have just entered the market.

Furthermore, it's easy to develop a DEX that solely trades tokens hosted on a single platform. But that doesn't address the issue that most people have, which is in fact fiat to crypto or crypto to fiat exchanges. There is yet to be a truly decentralised exchange developed for that. If cross-platform decentralised exchanges somehow can exist, then I think adoption for those can truly pick up, without any celebrity endorsements.

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