Crypto

The craziest quotes by John McAfee about Bitcoin and cryptocurrencies

Very controversial and very entertaining John McAfee is dead… As our subsidiary Bitcoinist reported: “ According to the representative According to the Supreme Court of Catalonia, former cryptocurrency promoter John McAfee was found dead in his prison cell near Barcelona, ​​Spain, at the age of 75.A cybersecurity pioneer and eccentric millionaire, McAfee became obsessed with cryptocurrencies in the latter half of his life.

He went from supreme praise for Bitcoin to criticizing it whenever he could. Launching a faulty hardware wallet. DEX pioneer and managed the trading platform for a while. As a result, McAfee promoted all the altcoins that were verified, and hardly any of them succeeded. Quite a colorful crypto career.

Related reading | Following the destruction of bitcoins, McAfee is promoting these three altcoins.

Of course you all know that his craziest quote about bitcoin was. But what does he think about the main themes of the crypto space? Let’s hand the microphone over to the fallen king and let him tear it up in his own words.

John McAfee on Bitcoin

As we told you earlier, he started with the highest praise. IN own press service, he said:

Bitcoin will become the gold standard. Bitcoin will always be the standard that you can store somewhere in an offline wallet and think it’s my retirement income. This is grandfather; he will always be the best. When people found out about cryptocurrencies, they were forced to name bitcoins instead of currencies. That’s how important it is.

And a few years later, he ultimately criticized it, demonstrating a fundamental misunderstanding of technology and its value to the world:

I am not a bitcoin maximalist. I don’t know what the maximalists think. I mean there is no privacy in Bitcoin. Bitcoin has no smart contracts and Jesus has nothing. This is an ancient and mysterious technology, but it will always cost a fortune.

“As a store of value and cryptocurrency, this is the norm. However, blockchain needs little in the world today. It’s just cryptocurrency.

So yes, even though he saw the saving aspect, he completely missed out on what bitcoin meant to humanity. However, he has always maintained a target price of $ 1 million at the BTC price:

“Otherwise it can not be. Take a look at the offer and use of bitcoin. Its meaning is now so artificially compressed. It will simply come out of artificial limitations where it should be. I mean there will only ever be 21 million coins and seven million of them are lost.

About blockchain technology

He was at a rendezvous with this:

Well, in 2014, I decided that blockchain is probably the most revolutionary software technology I’ve seen in 50 years in computing.

There are no arguments. And if you think about it, this is just a small part of what makes Bitcoin special.

It was completely dedicated to altcoins

Man, myth, legend were convinced that altcoins were the next step.

Obviously, altcoins are where the real action unfolds, and there are some super flamboyant people out there. Things like DAI are the only true stablecoin. It never fluctuates more than 1% against the US dollar. And I touched it, I looked at it, and it’s surprisingly smart contract based.

And he was especially interested in stable premises and privacy coins:

I think there are two things that will survive in the cryptocurrency world no matter what. These are privacy rooms, real privacy rooms, where no one can know anything about the transaction. And stablecoins like DAI, which do not change in value. From a stable object or an unstable object such as the US dollar. The DAI has never changed more than a cent against the US dollar.

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

John McAfee on DEX

One of McAfee’s recent projects has been a decentralized exchange. He was convinced that the world needed it:

We need to have distributed exchanges as users of cryptocurrencies created by people like Bitcoin, Monero or whatever are about to die. Because, as China proved two years ago, in 24 hours they shut down all trade in China. Overnight. This is a piece of cake. We have the address where the office is located, we go in and turn off the electricity, or turn everyone off, you know, whatever. Easy. So, without distributed trading, we are lost, because without trading, what are all these disparate currencies if we do not have the ability to trade between them.

Related reading | Why the liveliest Dark Net market has ditched Bitcoin in favor of Monero

With regard to governance and decentralization in general, he thought:

I think developers accept any open source solution. So the problem is open source. I mean, if you want to change it and put your name in it, and change the addresses in the wallet to a wallet that you own, please, my God, do it! This is your main right, okay ?!

If you make it open source, you won’t be able to complain about what people are doing with it until then.

So, do we need management? Not!

And to complete his thoughts on management, McAfee came up with a great idea:

No, we don’t need it, we are trying to move away from it, we are trying to develop a mathematical system that removes the need for trust and the need for control.

Rest in peace, John McAfee.


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