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Wikipedia co-founder Larry Sanger Advocates for Decentralized Social Networks

June G. Bauer

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During a recent CNBC interview, Wikipedia co-founder Larry Sanger Advocated for Decentralized Social Networks.

These networks would, for example, allow individuals to publish information online without going through a central organization, like a corporation. In the same way that bitcoin is a “decentralized” asset not subject to authorities like central banks, decentralized social networks would mean no single platform could control users’ data online. The idea has support among privacy advocates but has a long way to go before becoming mainstream.
A decentralized internet, a freer internet, that’s what led to the internet being created in the place.

Sanger is currently the CIO of Everipedia, a blockchain encyclopedia network which is known as The Blockchain Encyclopedia.

You may view Sanger’s personal website to learn more about his thoughts on the decentralized internet.

Pop cultureaholic, Technology expert, Web fanatic and a Social media geek. If you have any questions or comments please feel free to email her at [email protected] or contact her on Twitter @JuneTBauer1

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Bitcoin

Bitcoin Demand Surges in Lebanon

M. Ali

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Bitcoin lebanon

Demand for bitcoin is jumping in Lebanon after the country is facing one the worst financial crisis since the 1975-90 civil war. According to Saida Online (a popular Lebanese news portal), many Lebanese have investors also considered BTC as a store of value and a hedge against the aggressive expansionary monetary policies adopted by the central bank of Lebanon.

Protests that have swept Lebanon since Oct. 17 have added to pressures in the financial system, deepening a hard currency crunch that has left many importers unable to bring in goods, forced up prices and increased fears of financial collapse. The protests, fueled by rage against a ruling class seen as looting Lebanon, have slowed an already weak economy. Many businesses have shed jobs or slashed salaries and moved workers onto part time.

The crisis has shaken confidence in a banking system that has been a cornerstone of Lebanon’s post-war stability. Several Lebanese banks have imposed new caps on interest rates on deposits and pay savers half the interest due on foreign currency holdings in Lebanese pounds.

Bitcoin and other cryptocurrencies are not fully legalized in Lebanon, yet many investors in Lebanon are currently trading bitcoin through Whatsapp and Telegram groups.

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BitClub Network Founders Are Charged in $722 Million Cryptocurrency Ponzi Scheme

June G. Bauer

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BitClub-Scam

The creators of BitClub Network website were charged with helping to run a $722 million cryptocurrency fraud that amounted to a “high-tech Ponzi scheme,” U.S. Attorney Craig Carpenito in New Jersey said in a statement.

The BitClub Network claimed that users can earn daily profits from a so called shared mining pools. The website owners have created a referral program so they can trick more users to join their Ponzi scheme.

What they allegedly did amounts to little more than a modern, high-tech Ponzi scheme that defrauded victims of hundreds of millions of dollars. Working with our law enforcement partners here and across the country, we will ensure that these scammers are held to account for their crimes.

U.S. Attorney Carpenito said
A screenshot from Bitclub’s website

From its inception in 2014, BitClub Network was never about sharing crypto mining profits. The alleged scammers created false figures meant to demonstrate BitClub’s earnings from its bitcoin mining pool to its investors between April 2014 and December 2019.

The wire fraud conspiracy charge carries a maximum potential penalty of 20 years in prison, and a fine of up to $250,000. The conspiracy to sell unregistered securities charge carries a maximum penalty of five years in prison and a fine up to $250,000.    

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Video: Roger Ver: Bitcoin Cash Can Go Up a Thousand Times

Sying Tien

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Roger Ver, founder of bitcoin.com, who’s known as “Bitcoin Jesus,” joins CNBC’s “Power Lunch” team to talk about the cryptocurrency markets, the price of Bitcoin and more.

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