Bitcoin

John McAfee’s wild sayings about Bitcoin and cryptocurrency


Controversial and very entertaining john mcafee is dead. As he told sister site Bitcoinist, “According to a spokeswoman For the High Court of Catalonia, former crypto promoter John McAfee was discovered dead in his cell near Barcelona, ​​Spain, at the age of 75.McAfee became a cybersecurity pioneer and eccentric millionaire, obsessed with cryptocurrency in the latter part of his life.

He has gone from giving Bitcoin the highest praise to hitting it every time he can. Failed hardware wallet launch. She pioneered DEXes and ran a trading platform for a while. McAfee ended up promoting every Alt currency who had a check for him, and almost none of them worked. Color coding profession.

Related reading | After destroying Bitcoin, McAfee is promoting these 3 digital currencies

Of course, you all know what quote him On the topic it was. But, what was he thinking about the big topics in the crypto space? Let’s pass the microphone to the fallen king, and let him tear everything up using his own words.

John McAfee on Bitcoin

As we’ve already told you, he started with the highest praise possible. to Our News Desk, He said:

Bitcoin will become the gold standard. Bitcoin will always be that standard, so you can keep it in an offline wallet somewhere and think, this is a retirement income. It’s the grandfather. It will always be the best. When people were taught cryptocurrencies, they were made to say Bitcoin instead of currencies. This is how prominent it is.

And after a few years it ended up beating her, while showing the world a fundamental misunderstanding of technology and its value:

I am not a bitcoin fanatic. I don’t know what the extremists are thinking. I mean, there is no privacy in Bitcoin. Bitcoin does not have smart contracts, there is none, Jesus. It is a mysterious ancient technique that nonetheless will be worth a fortune.”

“As a store of value and cryptocurrency, it is the standard. However, it does not do much of what the world needs from the blockchain today. It is simply a cryptocurrency.”

Well, even though he saw the store of value side, he totally missed the point about what Bitcoin means to humanity. However, he always maintained his $1 million target price for BTC:

“It couldn’t be otherwise. Look at the supply and use of bitcoin. It is artificially compressed in value right now. You will simply get out of the artificial constraints to where you need to be. I mean, there will be only 21 million coins ever. And seven million of them are lost.”

About Blockchain Technology

he was right with this person:

Well, in 2014 I decided that blockchain was perhaps the most revolutionary software technology I had seen in my 50 years in computer science.

There is no argument there. And to think, this is only a small part of what makes Bitcoin so special.

It was all in on Altcoins

He was the man, the legend, the legend Convinced that Altcoins It was the next step.

Altcoins are clearly the real place to work, and there are some great people out there. Things like DAI, the only true stablecoin. It’s never different than 1% up or down from the US dollar. And I got involved in it, I was watching it, and it’s amazingly built on smart contracts.

He was particularly interested in Stable coins and privacy Coins:

I think there are two things that will remain no matter what comes in the crypto world. These are privacy coins, real privacy coins where no one can know anything about a transaction. and stablecoins, such as the DAI, that do not differ in value. From a fixed element, or an unstable element such as the US dollar. DAI has never been more than a penny from the US dollar.

Monero price chart on Bitfinex | Source: XMR/USD on TradingView.com

John McAfee in DEXes

One of McAfee’s recent projects was decentralized exchange. He was convinced of that The world needs it:

We must have exchanges distributed as users of cryptocurrencies created by people like Bitcoin and Monero or else they are going to die. Because as China demonstrated two years ago, within 24 hours, they shut down every exchange in China. Overnight. It’s a piece of cake. We have an address where the office is, we go in and cut the power, or we arrest everyone, or you know, whatever. Easy. So without distributed exchanges, we’re lost, because without an exchange what are all these disparate currencies if we don’t have a way to trade between them.

Related reading | Why the Dark Net’s Most Active Market Ditched Bitcoin for Monero

And about governance and decentralization in general, He thought:

I think developers make any decision they want with open source code. So the problem is open source. I mean if you want to change it and put your name on it, change the wallet addresses to a wallet that belongs to you, please God, do it! That’s your basic right, okay?!

If you make it open source, you can’t complain about what people are doing more after it.

So, do we need a judgment? No!

And to close this out, McAfee had this beautiful insight:

No, we don’t need that, we’re trying to get away from it, we’re trying to develop a math system that eliminates the need for confidence and the need for control.

Rest in peace, John McAfee.





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