Political Director For Ron Paul Quietly Mines Bitcoin And Builds New Blockchain Company

Political Director For Ron Paul Quietly Mines Bitcoin And Builds New Blockchain Company

The former Political Director for the Ron Paul 2008 Presidential Campaign Craig Bergman quietly runs a company called Vortex Blockchain Technologies Inc. Bergman believes Satoshi Nakamoto was great at economics, but bad at math, explaining the 100 Trillion dollar world economy needs ‘Future Coin’. Chinese authorities have seized cryptocurrencies worth about $15 million while bringing down a scam involving fake Huobi tokens. In addition, ten people were arrested while luxury cars and real estate were confiscated. The police in the Chinese city of Wenzhou, Zhejiang province, have cracked a criminal case and seized millions of dollars worth of cryptocurrencies,… More
The post Chinese Authorities Confiscate $15 Million in Cryptocurrencies, Arrest 10 Scammers appeared first on BTC Ethereum Crypto Currency Blog. Cryptocurrency exchange Cashaa said hackers took 336 bitcoin from one of its wallets. The company has stopped all crypto-related transactions. Source link

From his ‘Silicon Prairie’ in Des Moines, Iowa, the former Political Director for the Ron Paul 2008 Presidential Campaign, Craig Bergman now runs a company called Vortex Blockchain Technologies Inc. (Vortex) as President and CEO. In a phone interview, Bergman discusses how he is quietly mining bitcoin and other cryptocurrencies for now, while he catches up on filings with the SEC.

An SEC filing explains “Vortex Blockchain Technologies, Inc (“Vortex” or the “Company”) was incorporated on February 14, 2013 in the State of Nevada as UA Granite Corporation, and a reverse merger with Vortex Network, LLC was completed on October 17, 2018.” Currently listed as VXBT, there are 75,500,000 shares outstanding – all of which are still privately held.

The latest SEC 10-Q Report for the quarter ending September 2019 states, “…the Company is engaged in software and hardware development, bitcoin mining, fintech, cyber security, and A.I., has been issued a going concern opinion, and relies primarily upon the sale of our securities and loans from its CEO and directors to fund operations.” Bergman stated his expectation that his company’s securities will start trading publicly in August.

Almost as interesting as the transactions executed in rolling out his blockchain firm to the public is Bergman himself. From his days working on the College Republicans for Jack Kemp, he quickly found himself between both Austrian economic theorists and gold standard champions. Bergman also has a charitable organization called ‘Patriots for Christ’ that teaches Americans to uphold their civic duty based on religious scripture. Finally, with his work as a movie producer of the documentary ‘Unfair: Exposing The IRS’, Bergman keeps himself busy.

For his leadership of Vortex Blockchain Solutions, Inc., his energy is high and diversity of interests in the crypto and blockchain space is similar to his other endeavors. While admitting he had originally dismissed Bitcoin as ‘Magic Internet Money’, he now considers Bitcoin and its pseudonymous creator Satoshi Nakamoto as good at economics, but bad at math. “I would make halvening every year and start with a bigger pool. Satoshi was good at economics and bad at math. Bitcoin cannot make it another 100 years as it is not big enough to capture the 100 Trillion dollar world economy,” says Bergman.

As Bergman laments that in his second experience with Bitcoin, he cashed out early enough to put in new marble countertops in his kitchen, but did not ‘HODL’ or hold on for dear life. Many in the crypto community describe their intent with not selling Bitcoin no matter what happens, based on their long-term beliefs in the technology. However, according to Bergman, Bitcoin has a limited time before the currency no longer is able to manage the capacity of the world economy that he believes a new ‘Future coin’ will be able to do. “Cardano is close, but it’s like watching Shawshank Redemption where [Charles Hoskinson] is chipping away at a wall behind a Marilyn Monroe poster. Will he finally break through? Probably, but it will take 20 years.”

According to Bergman, this ‘Future Coin’ will be something that will change everything instantly, like Thanos from the Avengers snapping his fingers. He describes the future as a proof of stake, proof of trust blockchain protocol that will be invented ‘out in the wild’ as a ‘zero-day’ coin that will become the next Bitcoin, only much better. Bergman believes Cardano went back – but not far back enough. He expects the same phenomenon will occur that did with Bitcoin, where there is no ‘pre-mining’ and just like Satoshi and Finney started with their transactions, this new ‘Future Coin’ will need experience its genesis moment. “The reason pre-mined tokens and ICOs don’t work is because nobody wants to make that guy a billionaire,” Bergman claims.

Regarding blockchain, Bergman has been involved with distributed systems for years. He had started a company called Vortex Network focused on distributed network systems back in 2010-2011, similar to Napster. Bergman claims that back then, new centralized platforms would eventually be doomed to fail. Prior to George Gilder’s book ‘Life After GoogleGOOGL’, the idea of giving away your product and using others as the content creator he dramatically considers a form of socialism.

Craig Bergman, President and CEO of Vortex Blockchain Technologies Inc.

Bergman referenced companies such as Radio Shack, Montgomery Ward and Sears, that had incredible market valuations; yet, they are no longer with us.

Bergman foresees the upcoming decade as another iteration of a decentralized infrastructure –  where AOL was. “AOL was downloaded from a disk and ran on your local machine. You could change the interface with AOL and use it locally with neighbors. You can’t do that with current Web 2.0 technology (such as Twitter or Facebook) – you are on their server”.

For current profits, Vortex relies on mining. “If people think Bitcoin and mining is profitable this is what we do like everyone else,” said Bergman. “However, unlike Riot and Hive, we haven’t borrowed 150 million dollars; we have no debt.”

Presidential Candidate Ron Paul

Regarding his time as political director for Ron Paul, Bergman notes Ron Paul is three generations older than he is. Bergman says he talked him into running in 2007, after he had first supported him for President against George H.W. Bush in 1988 when Jack Kemp didn’t win. In terms of the way the Fed works today and how the crypto community embraces the ideas of Paul, Bergman comments, “The Founding Fathers could not artificially alter the monetary supply without putting effort into it. Politically, socially, and economically it is the truth. Printing money makes money worth less”.

Bergman proclaims that when the Fed prints, “…two trillion dollars out of thin air, there is no gold or silver mined, no electric spent, no jobs were given and no infrastructure built. All the printing does is cause the price of goods to go up in relation to the value of the currency just printed.”

For the future, Bergman is also developing a voting system and software with a name brand that people associate with and trust, an American publicly traded company. He hopes his firm will be trading by August or September. “Bergman may not be your typical crypto-community member. However, his work in mining cryptocurrency is just the beginning of his foresight in to the future of blockchain technology outside of finance. From blockchain enabled voting platforms to AI to looking beyond to Web 3.0, Craig Bergman will be able to fit right into any cryptocurrency conference.  

To the degree that he was the former political director for Ron Paul will win Bergman praise enough; however, should he go too far back to Jack Kemp and Ronald Reagan, he may get some blank stares from the millennials. However, he should also be able to relate well to the baby boomer crowd, a challenging but perhaps untapped marketplace for the growth and acceptance of crypto.

Source: www.forbes.com

Author: Jason Brett


Chinese Authorities Confiscate $15 Million in Cryptocurrencies, Arrest 10 Scammers

Chinese Authorities Confiscate $15 Million in Cryptocurrencies, Arrest 10 Scammers

chinese-authorities-confiscate-$15-million-in-cryptocurrencies,-arrest-10-scammers

Chinese authorities have seized cryptocurrencies worth about $15 million while bringing down a scam involving fake Huobi tokens. In addition, ten people were arrested while luxury cars and real estate were confiscated.

The police in the Chinese city of Wenzhou, Zhejiang province, have cracked a criminal case and seized millions of dollars worth of cryptocurrencies, local media reported Thursday, calling the case the country’s “first criminal case involving smart contracts.”

The authorities began investigating the case after receiving a complaint in April from Li, a Chinese citizen who joined a Telegram group called “Huobi Global HT [huobi token] Arbitrage Chinese Community.” The group provided tutorials on an investment scheme that group members claim to be profitable. Li explained to the police:

Simply put … transfer your ETH (ethereum) to the account designated by the other party, and the other party will return 60 HT (huobi). After exchanging, the HT value added part is the money you make, the profit is around 8%.

The price of HT on July 3 was 28.61 yuan ($4) and the price of ETH was 1,589 yuan ($227), which should translate to a profit of about 8%, according to the report. However, when Li transferred his 10 ETH, worth 12,000 yuan ($1,714), to the account provided by the group owner, the other party returned 600 fake HT coins that could not be traded, Li claimed. That was when he realized that he had been scammed and reported it to the police.

After receiving Li’s complaint, the police launched an investigation into the scheme. They found that the group had more than 13,000 members. However, more than 10,000 accounts were idle “zombie accounts” and the remaining members and staff were actually computer bots. The report further notes, “There are only a few administrator accounts that are actually online, and their task is to publish tutorials to lure victims to be fooled.”

The arrests and confiscation were made after a month of investigation. The police say that this scam has swindled over 100 million yuan from more than 1,300 victims. The report elaborates:

[The police] successfully captured all 10 suspects … confiscated dozens of mobile phones and computers on the scene, seized tens of thousands of virtual currencies such as ETH, BTC, USDT, etc.

The police also seized real estate and luxury cars, such as a Mclaren and a Ferrari, worth more than 13 million yuan. The accused reportedly confessed to the crime after they were arrested.

Cryptocurrency exchange Huobi, whose coin was the subject of the scam, had previously warned about a similar scheme promoted by a Telegram group called “Huobi Global official risk-free arbitrage group.” The company emphasized at the time that the HT coins sent by the scammers were fake and it had never launched a “risk-free arbitrage” campaign.

What do you think about this case? Let us know in the comments section below.

The post Chinese Authorities Confiscate $15 Million in Cryptocurrencies, Arrest 10 Scammers appeared first on Bitcoin News.

https://news.bitcoin.com/chinese-authorities-confiscate-15-million-cryptocurrencies/

The post Chinese Authorities Confiscate $15 Million in Cryptocurrencies, Arrest 10 Scammers appeared first on BTC Ethereum Crypto Currency Blog.

Source: cryptomoneyteam.co

Author: By TeamMMG


Hacker Stole 336 BTC from Crypto Exchange Cashaa

Hacker Stole 336 BTC from Crypto Exchange Cashaa

Home / Bitcoin / Hacker Stole 336 BTC from Crypto Exchange Cashaa

Cryptocurrency exchange Cashaa said hackers took 336 bitcoin from one of its wallets. The company has stopped all crypto-related transactions.

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Political Director For Ron Paul Quietly Mines Bitcoin And Builds New Blockchain Company


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