John McAfee: “While Bitcoin has been tanking in price, it’s been climbing in use”

13 Sep, 2018
by Paula D. Baciu
News
John McAfee: “While Bitcoin has been tanking in price, it’s been climbing in use”

John David McAfee, the eccentric King of Crypto-parties, Fighter against Corruption, Creator of the McAfee antivirus, Crypto Predictions Champion, Presidential Candidate of America, and Father of the McAfee Alliance - was interviewed by Boxmining on price predictions. On a yacht, drinking whiskey.

If you don’t want to watch the full video, however, here’s the summary:

It’s difficult to forecast what’s going to happen in more than five years, McAfee started off, therefore his prognostic only has a medium timeframe of a few years in sight.

What drives market movements on the long term?

Adoption: cryptocurrencies benefited considerably more recognition and implementation this year, despite recurrent market dips. However, the arrival of distributed exchanges will propel cryptocurrencies even further.

By the way about decentralized exchanges. What about them?

The current financial system requires people to get permission to use and transfer their own money from various financial institutions. The blockchain itself and decentralized exchanges remove that hurdle because the technology behind it is permissionless at its core.

Of course, HitBTC was on the daily menu as always.

For a good reason. The crypto influencer emphasized that as a trader (and user, if the case may be) you know very little about HitBTC. Its location, founders, executives, and support team have not been identified yet, “and yet they process millions of our dollars,” John McAfee pointed out. Those behind it can essentially do whatever they like with the funds they keep because no one knows nothing about them.

On the potential of blockchain and ICOs

“The Blockchain is the first technology that says ‘I am the arbiter of truth,’” In a world where each person and entity tells their version of the truth.

Initial Coin Offerings, on the other hand, in the form they come today, are bound to disappear. Not new projects themselves, but the system itself. He believes that another funding method based on loans instead of coin offerings will replace it because loans are not managed by the SEC.

In case you were wondering, John McAfee also told Boxmining the way he’s planning to keep his promise to eat his… baby maker, should his prediction fail. Raw and gradually, over the course of 10 years, possibly by subcontracting a Bangkok prostitute.

Poll

Will McAfee's prediction hold or flop?

(68 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage