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Matthew Lesko Says Crypto is a Scam



Matthew Lesko, a famous US author that wrote books back in the 90s about how to get “free money” from the government recently stated that cryptocurrencies are a scam and a gamble.

Matthew Lesko


He says that “many people are interested” in Blockchain technology and digital currencies. He then recommended these people to “stay away” from cryptocurrencies unless they “have money to lose.”

The “free money guy” then said:

“You’re playing with sharks right now. This is the beginning of something, [and] no one knows where it’s going.”

He believes that cryptocurrencies are a scam due to the fact that they are not backed by anything and because of its lack of regulation.

Back in 2004 the New York State Consumer Protection Board criticized Lesko’s commercials and books, by saying that many of his readers did not get the results they were hoping. According to Lesko, Blockchain experts today use the same “exaggerations” he used in his 90s “free-money” infomercials.


Ireland: Property Bitcoin Payment




Hagan Homes, one of Northern Ireland’s most influential and successful residential property developers, has announced that it will be accepting Bitcoin as a payment method, according to the Belfast Telegraph.

Bitcoin Payment


Jamesy Hagan, the managing director, stated that there is a growing international interest in working, living, and investing in Northern Ireland, as well as a “significant growth in the use of Bitcoin worldwide:”

“Our acceptance of this new channel reflects our willingness to respond to the market.”

The Belfast Telegraph also writes that Hagan Homes is now the first house-building firm in the Republic of Ireland to make the announcement of Bitcoin implementation.

Hagan made some comments on the current volatility in crytpocurrencies, with Bitcoin’s price going from $20,000 to $7000 in just a few months:

“Of course, there are some risks to using Bitcoin for payment due to the cryptocurrency’s volatility, but buyers and sellers are finding creative ways to deal with these challenges […] By incorporating the learning from our peers into our approach we can embrace this innovation.”

Although they are not the first in the world, it is an important step in the crypto community and Northern Ireland as a whole.

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Coinbase’s Master Plan




In a recent interview with Business Insider, Dan Romero, shared his thoughts on everything from cryptocurrency exchange rivals such as Robinhood, to the famous SegWit techn that could improve Bitcoin, to the future of Coinbase as a company.

Interview From Becky Peterson


Becky Peterson: The competition seems to be growing, with a lot of companies launching cryptocurrency exchanges. How do you define yourself and see the positioning of Coinbase in the long-term compared to other companies in the space?

Dan Romero: We are a first mover in the space in terms of building a consumer friendly brand. We are enabling individuals to be able to get into the ecosystem and be able to experiment with digital currency.

We’ve had a lot of challenges around with scaling. We’ve had a lot of customers come on to the platform in the last year and we’re doing everything in our power to make sure we’re giving them a great customer experience. It’s not where it needs to be today. I think hopefully soon we’ll have made significant improvements there.

But I think if we shift to long-term, Coinbase is going to be 100% focused on cryptocurrency. Our mission is to build an open financial system for the world. We’re not interested in equities or options trading or any of the other kind of traditional financial system products.

We’re focused on digital currency. Where we will be successful is if customers fundamentally think of us as “the crypto company.” That is our focus. So with other folks coming into the market, it’s validation that cryptocurrency is more mainstream. But we fundamentally don’t view cryptocurrency as a feature. It’s our business.

If you look at a couple of the more recent entrants into the market, they don’t allow you to send and receive digital currency, or they make you jump through significant hoops to do that. And I think that is antithetical to the idea of cryptocurrency to begin with.

It’s fundamentally something to be used, and you can move it around just like you can more your own files around. So the fact that a service would come in and let you speculate on price but not actually use currencies — in some ways that’s actually concerning to me.

Peterson: What do you mean? The fact that Coinbase offers payment features and things like that?

Romero: Yeah, but I think a great example, there is a competitor that’s rolling out today, where if you go to their help section, they don’t allow you to send digital currencies to them, and in order to access withdrawals you have to go through multiple hoops and it may take you a week to do that.

Peterson: Are you talking about Robinhood?

Romero: Yeah, I think they’re launching today.


Business meeting

Peterson: Back to the business side of things — this week Recode reported that Coinbase is looking for a new chief financial officer to help take the company public. Is that true?

Romero: We are hiring a bunch of different executives at the company. It’s part of the scaling effort. We have a CFO right now. We may or may not be looking for a CFO. But I think the broader story here is that we’re trying to scale the company because we’re looking to build a lasting company in the space.

Peterson: In the case that Coinbase does go public, how do you convince investors that this company has a future?

Romero: I think our view is that this is similar to the beginning of the internet. So we’re trying to build a Google-like company for the cryptocurrency space. Things like SegWit are a good example, where we need to ensure that we have the latest and greatest in terms of cryptocurrency. That’s how we’re going to be the cryptocurrency company, that if we do go public at some point in the future, we’ll have that narrative.

So we will be focused on that as a business, rather than a feature. We think a lot of the developer interest we’ve seen grow in 2017 is validation of the fact that this is something that will have staying power, rather than a flash in the pan.

Peterson: When it comes to new technology like SegWit — how do you perceive the role of Bitcoin Core and the open source foundations behind the cryptocurrencies on your platform? Do you think those foundations will lead innovation on crypto or do you see Coinbase doing R&D?

Romero: We are actually trying to increase the amount of contributions we’re making at the core protocol level. We have a significant amount of talent that we’re trying to hire for, for engineers that would only be working on protocols. So no direct benefit to Coinbase, they would be doing open source development on protocols like bitcoin and ethereum.

Interview source:


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Overstock’s Recent Investment




The CEO of Overstock has recently stated that he is not really interested in cryptocurrencies, however his company has invested millions of dollars in an unknown Blockchain project.

Overstock Investment

When he was asked about his interest in the Blockchain and cryptocurrency he said he is “really letting something big out of the bag.”

“In the fictional world of Westeros, ravens are used as messengers who carry statements of truth.”

According to Byrne, Overstock has put “millions of dollars into teams” for Ravencoin, stating confidently, “[w]e think this coin actually has quite a future.” Byrne then compared Ravencoin to leading Bitcoin by saying that:

“It’s Bitcoin, but a thousand times more energy efficient.”

“Anyone can download this software, and you don’t have an advantage by having this big mining warehouse in China.”

In a Reddit post called:  “What are your thoughts on Ravencoin?” it was clarified that:

“This coin is very new and also implements a brand new algorithm, X16R. Surprised that there’s not a single mention of it in this subreddit, even though thousands of miners are already mining this coin. Is it being kept secret to keep mining difficulty down?”

Back in 2014 Byrne said:

 “I like to think that we saved that community [Bitcoin] about five years in their adoption cycle.”

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