McAfee might be conceding his prediction, speaks on regulation in crypto

08 Dec, 2018
by Arthur Sillers
Opinion
McAfee might be conceding his prediction, speaks on regulation in crypto

We’ve gotten word from John McAfee, who has bet ‘to eat his own dick’ if Bitcoin doesn’t reach $1 Million by 2020. Even John McAfee seems to be conceding that the market isn’t poised to take off to the extent he originally predicted, and gives his predictable stance on upcoming Bitcoin regulation.

John McAfee has detailed his plans to fulfill the statute set out by his wager, which is looking increasingly unlikely to fall to McAfee’s predictions. McAfee’s plan to ‘subcontract’ the work to Bankok prostitutes is very onbrand for the self styled bad boy of crypto, but it certainly violates the terms of the agreement, or at least the spirit.

Nonetheless McAfee also offered his less flippant thoughts on the prospect of regulated crypto, a notion which is ever-more imminent.

McAfee makes clear he sees the revolutionary character of crypto to be absolutely in opposition to any form of regulation. McAfee’s politics have regularly been fully libertarian, though have generally not consisted of policy proposals but rather a promise to dismantle existing government infrastructure.

Read more: Wasn't cryptocurrency supposed to disrupt governments?

Chepicap had a chance to talk to McAfee months ago in an unrelated conversation and he squarely said that cryptocurrency is key to realizing this goal, as it will offer an alternative payment framework which completely avoids both government oversight as well as tax requirements. This may technically be a possibility, but crypto is increasingly coming under the purview of governments, and in fact is creating more regulation and more government structures. If crypto is really to be the Murray Rothbard/Ayn Rand/Michael Freedman supervirus that cryptoanarchists consistantly claim it is, a lot of things will have to change in the near future, and nobody, including McAfee, is providing the details for that pathway.

Read more: Malaysia's Central Bank is looking to implement regulation for crypto

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