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IOTA’s Co-Founder Sells His MIOTA Coins, Community Led to Believe IOTA Goes Beyond Crypto

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Thu, 11/14/2019 - 09:12
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  • IOTA’a co-founder Sergey Ivancheglo says he quits working in crypto and has sold all of his crypto holdings, some now believe that IOTA’s overgrown being a mere coin

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Contents

A short while ago, one of the IOTA founders, Sergey Ivancheglo stated that he leaves the cryptocurrency sphere and sells all of his MIOTA coins. That was announced during a Discord AMA session, reports Micky.

Leaving IOTA for good

Ivancheglo said that he leaves the IOTA Foundation so as to avoid the conflict of interests since he also works for other blockchain projects. He confirmed that his work on Qubic and Aigarth (both are IOTA-based projects) will continue. However, he does not want to deal with crypto any longer.

Ivancheglo did not name any other particular projects he is engaged with.

Earlier this year, in summer, he quit the IOTA’s board of directors and since then worked as an independent IOTA developer.

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The community believes IOTA is much more than crypto now

In the comment thread, some of the IOTA community members assumed that Ivancheglo is quitting and selling all of his MIOTA stack due to one big reason – IOTA has evolved into a real protocol instead of being a mere cryptocurrency.

However, opinions split here.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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  • Bitcoin (BTC) scammers know no quarantines or self-isolation. Dozens of fraudulent airdrops falsely endorsed by Bill Gates ask YouTubers to send in their Bitcoins.

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Contents

Typically, fake YouTube airdrops are quite similar to each other. With the current pandemic enraging across the planet, a series of scams that impersonate Bill Gates have some distinct features.

With Bitcoin (BTC) Price Drop, Scammers are Getting Greedy

Just like in several other previous cases, the fraudsters launch fake 'live streams' on YouTube, asking users to send in their Bitcoins (BTC) in order to get redouble the initial amount.  An 'entry ticket' into to this scam starts at 0.1 BTC which is more than $650. With previous scams, it was much cheaper.

Fake YouTube Bitcoin (BTC) airdrop
Image via YouTube

The scammers also publish the URLs of this campaign, which are linked to suspicious websites. Unlike previous cases, fraudsters launch multiple live streams simultaneously. At press time of this article, at least two of them were active.

Multiple scam streams on YouTube
Image by YouTube

According to statistics, the average popularity of one live stream is about 30,000 viewers.

Very Bad Idea

Alongside that, launching fake airdrops on behalf of Microsoft's Bill Gates isn't a slam dunk for the fraudsters. It may seem ironic, but Mr. Gates is a prominent critic of cryptocurrencies, particularly of Bitcoin (BTC). He is sure that digital assets represent a kind of a ‘greater fool theory’ type of investment.

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Cryptocurrencies kill, added Mr. Gates. To him, its only use-case besides short-term speculations is illegal funding for drug trafficking:

Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way.

The U.Today team will one more time state that no airdrop will be conducted without the notification from an official website of a product or token. Any YouTube, Medium, and/or Telegram announcements may shill scammers. Never send your money to unknown persons.

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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