Category Archives: John McAfee

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John McAfee Tweets to Sooth the Souls of Nervous Investors

Controversial investor and software guru took to Twitter this week to calm the jangling nerves of Bitcoin investors after a tumultuous week left the flagship cryptocurrency hovering above USD 4,000.

Investors may ask “why listen to John McAfee?” but they might just take a look at a recent study which revealed that the 73-year-old tech veteran was found to be the most influential figure in terms of trustworthiness when it comes to handing out trading advice. In second place, the study placed Ethereum founder Vitalik Buterin, followed by Litecoin creator Charlie Lee.

In his latest tweet, McAfee makes an analogy to the bear market and winter, arguing that a “glorious spring” is around the corner, attributing the current market disruption to confusion. He points out that investors are joining the market daily, regardless of current trends and blames the current market turmoil on institutions who took “absolutely unenforceable measures to allay their fears.”

Market forces will “burn out” in time, McAfee suggests and encourages the global cryptocurrency community to stick with cryptocurrencies in the long term, echoing the views of Blockstream’s CEO Bobby Lee, who suggested that Bitcoin could still threaten USD 3,000, but long-term, feels it will overtake gold:

“This bear market might last another 18+ months, until the next block reward halving. That’s a long time for everyone except true believers. Enough time to scare away all of the weak long positions.”

Lee certainly has an ally in venture capital partner Lou Kerner from CryptoOracle who sees gold eventually being surpassed by Bitcoin. He compared the current market instability to the early 2000 dot com burst but makes an analogy to strong coins such as Bitcoin and Ethereum and companies such as Amazon who survived the bubble and emerged to become giant players in today’s tech markets. Kerner calls Bitcoin “the greatest store of value ever created.”

As to the recent drop in values, Kerner argues that “crypto has been so weak because [for] most of it there is no underlying value outside of confidence.”

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John McAfee Hooks up With Art Platform to Auction Picasso

Ex-security software guru, turned crypto and blockchain enthusiastic, not to mention a would-be presidential candidate John McAfee seems to be everywhere these days, hence his latest dip into the world of fine art.

In his latest role as blockchain influencer, McAfee is turning to the tokenization of classic paintings, with Picasso set firmly in his sights. To this end, he’s teamed up with Blockchain-based art investment platform Maecenas and ERC20 crypto exchange Ethershift in order to produce what is hailed as the first “perpetual digitalization and tokenization of a Picasso’s work of fine art.”

The team, codenamed “Project Phoenix,” plans to auction the as yet unnamed Picasso this December and has announced the event on the Maecenas website:

“The auctioning process will be executed using Maecenas technology. The newly created digital asset, the first of its kind, will be represented as a single ERC721 token for the digitalized artwork. A fixed number of ERC20 tokens will separately represent shared ownership in the physical asset.”

This is not the first of McAfee’s forays into the art world after Andy Warhol’s ‘14 small electric chairs’ were tokenized earlier this year with 31.5% of the painting’s value sold to investors who paid in either BTC or ETH. Maecenas offered immutable purchase history and ownership information on the Warhol, connecting investors and art dealers on the platform while running a smart contract on the Ethereum blockchain. McAfee was proud to announce his latest art coup on Twitter:

“I am helping to tokenize rare art objects – a groundbreaking Blockchain application. We will auction a tokenized Picasso at the end of December. This is our second tokenized painting. The first was a resounding success.”

With Project Phoenix soon to see its tokens available to the public on the Ethereuem blockchain, there is a risk that McAfee invites the usual “shilling” accusations from his critics – the spreading of positive information about a product which may or may not be accurate in order to gain investor interest. It has been noted that McAfee tweets about new blockchain enterprises or projects often lead to huge price gains, opening him up to accusations of manipulating investors.

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John McAfee Says Presidential Run Solely for Promoting Crypto

Computer programmer and businessman John McAfee has said he has no expectations or desire to win the US presidential election of which he is a candidate. Instead, he is running solely to promote permissionless cryptocurrency.

In an interview with Cointelegraph, McAfee said he would be campaigning on a libertarian platform, as he did in the 2016 election. This time around, however, he says the singular purpose of his participation is to promote the concept of cryptocurrencies and their adoption. The pro-cryptocurrency stance that he has adopted comes from a place of encouraging ”personal freedom” through its adoption.

He reportedly seemed assured that there were no hopes for him winning the election, although this did not discourage him from running in the slightest. On the contrary, in fact.

He told a Cointelegraph reporter: ”I don’t want to be president. I couldn’t be… no one’s going to elect me president, please God. However, I’ve got the right to run.”

Plans to increase the size and significance of his platform is apparently all being done in the name of promoting cryptocurrency rather than his personal brand.

”Fiat’s got 5 years”

McAfee stands by his prediction that Bitcoin will hit USD 1 million by the election year 2020, adding that ”in five years’ time, fiat will be on its last legs”.

Foreseeing an exodus from fiat currencies into the digital market, he elaborated on this price prediction, saying that in two years, USD 1 million will not be worth what it is today.

”I will tell the truth”

As reported by Bitcoin News last month, the founder of McAfee Anti Virus shared a similar sentiment as he did earlier this week, saying: ”In truth: the crowd doesn’t want the truth. It is why politicians lie. They cannot win by telling the truth. I don’t want to win POTUS. I just want the stage.”

It is because he has neither an expectation or a desire to win the race that he says he can be the one to speak the truth.

Making a strong claim, McAfee went so far as to describe people as ”slaves to the entire system”, referring to both governments and financial institutions. ”If you want to send Bitcoin, Ethereum or Monero, who do I have to ask? Only the peer… We are creating a permissionless society,” he said.

 

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Johnny Depp Out, Michael Keaton to Play John McAfee in Film Project

Film veteran Michael Keaton will feature in a film about the life of controversial crypto advocate John McAfee, the man who made millions creating antivirus software, replacing the original actor identified, Johnny Depp. It now appears all was not quite so calm leading up to the final cast selection.

The latest confirmation is that Michael Keaton will star as the outspoken entrepreneur, but it isn’t the first yarn about McAfee’s trials and tribulations to appear on screen, following Gringo: The Dangerous Life of John McAfee released in 2016. The documentary directed by Nanette Burstein was labeled by MacAfee as complete fiction.

The latest film has McAfee’s hands all over it, so much so that he was unhappy with the selection of Johnny Depp as the main lead. Reportedly, he wanted Morgan Freeman for the part, although is happy with the inclusion of Keaton playing him.

When asked about Depp being fired from the project, McAfee responded: “The pussy couldn’t handle my drugs. Keaton will have no problem.” It appears that Depp was on the project for the best part of a year before being found a suitable replacement in Keaton, recent star of the smash hit Birdman. The synopsis of the film, in brief, covers a Wired magazine reporter, played by Seth Rogan, who is sent to cover a routine story but upon encountering McAfee, realizes it’s not that at all.

There has been no comment from Depp on his leaving the project but he is not short of work clearly, and it appears he’s after cryptocurrency-related roles. Depp, of Edward Scissorhands and Pirates of the Caribbean fame, had been linked early with this year with a new film said to be a biopic of the late cryptocurrency billionaire Matthew Mellon. Although it wasn’t confirmed, sources revealed that Depp was understood to be interested in the role and that “there is a screenplay being shopped”.

Depp has also signed with cryptocurrency-based media platform TaTaTu for an undisclosed number of movies. The new company has been attempting to acquire major stars since its ICO and is currently working on a Lamborghini biopic to star Antonio Banderas and Alec Baldwin, as well as another movie and two documentaries. The displaced actor was clearly happy to be associated with the crypto-based company and his own deal with them commenting:

“In this era of democratized entertainment, I admire the imaginative ethos of Andrea and look forward to collaborating together in a liberating, progressive manner that will befit the principals of our respective entities.”

 

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McAfee Claims: If in 2020 Presidential Race, “I Will Tell the Truth”

British-American computer programmer and businessman John McAfee has begun making pledges in his run up to the 2020 US presidential elections.

The founder of McAfee Anti Virus software and vocal cryptocurrency advocate stated recently that he would seek a nomination to run in the next US presidential election. In doing so, has expressed a clear aim to advance the stature of cryptocurrency and blockchain on the world’s financial stage. McAfee recently suggested that blockchain and crypto have given new freedoms to the working community who he sees as ‘hired slaves,’ arguing:

“If you want to send Bitcoin, Ethereum or Monero, who do I have to ask? Only the peer… We are creating a permissionless society…We are not slaves for our jobs, we are not slaves to the government, we are slaves to the entire system.”

In his latest pledge as a potential POTUS runner, which would be his second attempt to get his name on the ballot, he has vowed to “tell the truth,” despite also explaining that he has no chance or indeed no intention of actually winning anything. He commented in his latest tweet:

“In truth: the crowd doesn’t want the truth. It is why politicians lie. They cannot win by telling the truth. I don’t want to win POTUS. I just want the stage.”

Running on “Truth” would be a campaign which would certainly get some support in the present political climate in the US. Although, it would be highly unlikely that McAfee, seen by some as a maverick would progress. The comparisons to the potential of Donald Trump to become US President, turning back the clock, are there to be made, however. When questioned back in June about his chances in 2020, McAfee said:

“Don’t think that I have a chance of winning. I do not. But what truly changes America is not the president, but the process of creating one. If my following is sufficient I get to stand the world’s largest stage and talk to everyone, as I did last time, to tell the truth.”

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John McAfee: Crypto Frees Employees from “Subtle and Refined Slavery”

The founder of software company McAfee Associates has suggested that blockchain and crypto have given new freedoms to the working community whom he sees as “hired slaves”.

Giving an interview at the recent CoinsBank Blockchain Cruise event, John McAfee claims that blockchain is creating a “permissionless” society, freeing employees from a system of a “subtle and refined slavery”.

McAfee asserts that the current status quo is one which restricts the individual from fulfilling the requirements of enforced regulations at every step, arguing that a largely decentralized society would enable employees to fulfill their potential. He argues, “We live in a system of permission. Every legislation, every law, every regulatory agency, every regulatory body, is designed to control our thoughts or actions or movements.”

He gave the example of cryptocurrency as an illustration of how a new found financial freedom can be utilized by removing middlemen who profit from the established systems put in place by large institutions:

“If you want to send Bitcoin, Ethereum or Monero, who do I have to ask? Only the peer… We are creating a permissionless society… We are not slaves for our jobs, we are not slaves to the government, we are slaves to the entire system.”

McAfee’s views are shared by many and have become the driving force behind cryptocurrency adoption on both an individual, and more gradually, at a governmental level, as more nations begin to review outmoded and restrictive methods of conducting financial services. The adoption of blockchain technology is far-reaching and is beginning to make an impact in all sectors across the globe. A new World Economic Forum (WEF) report indicates that blockchain has the influence to transform the global trade industry:

“Paper-based, manual processes, some created centuries ago, lead to complexity and delays, introduce errors and risks, and stand in the way of reliable, real-time information gathering and tracking required for credible financing decisions.”

Michele Orzan, digital leader of WEF Europe, maintains that it is government services which could benefit the most from blockchain, followed by public and civic leadership. This would have a major impact on solving social issues globally, as can already be seen by numerous projects on the African continent where lives are being changed for the better, through social projects backed by blockchain.

 

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Hacker Claims Access to Supposedly Unhackable BitFi Wallet

BitFi has branded itself as an unhackable cryptocurrency wallet, in the same way the Titanic branded itself as an unsinkable ship. Fate seems to have been tempted successfully as it now appears that BitFi has been hacked, at least partially.

BitFi partnered with cryptocurrency superstar John McAfee to offer a USD 100,000 bounty to anyone that could hack the BitFi wallet. After some back and forth on the internet, since there is a widespread belief that anything is hackable, BitFi upped the ante to USD 250,000. It has fairly specific rules outlined on its website detailing how the hacker has to purchase a locked BitFi wallet and drain the funds to win the challenge.

Challenging all the hackers on the internet might not have been the best strategy, especially when offering them such a large sum of money. It appears a hacker has claimed to have partially hacked the BitFi wallet to gain root access.

Short update without going into too much detail about BitFi:

We have root access, a patched firmware and can confirm the BitFi wallet still connect happily to the dashboard.

There are NO checks in place to prevent that like claimed by BitFi.

— OverSoft (@OverSoftNL) August 1, 2018

This can be considered a serious security breach, but BitFi has refused to pay out the USD 250,000 because its rules clearly state that the hacker must drain the funds to win the challenge. If the hacker claims were true, root access should give full access to everything in the wallet system. However, it is unclear if the private key is stored on these BitFi wallets being offered to hackers for the challenge. If not, then this challenge is impossible, since cryptocurrency private keys are inherently unhackable even with the most powerful supercomputer.

McAfee, who is a BitFi advocate and funding the challenge, has downplayed the hacking of the BitFi wallet. He asserts that gaining root access is meaningless, despite the fact that when hacking, gaining root access usually means game over.

Hackers saying they have gained root access to the BitFi wallet. Well whoop-de-do! So what? Root acces to a device with no write or modify capability. That’s as useless as a dentist license un a nuclear power plant. Can you get the money on the wallet? No. That’s what matters.

— John McAfee (@officialmcafee) August 2, 2018

The hacker asserts that gaining root access means BitFi is not secure, and that this hacker challenge is a sham.

 

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Another Blockchain Party, This Time at Sea with 2,500 Cryptolites

A third floating blockchain conference is planned for September of this year with an entire ship reserved for a potential 2,500 cryptocurrency enthusiasts sailing the Mediterranean Sea.

The cruise is organized by cryptocurrency exchange CoinsBank taking in Barcelona, Monte Carlo and Ibiza as 100 speakers deliver presentations on current developments in the industry.

Those at sea will include a mixed bag of pioneers and experts from the industry including John McAfee, founder of McAfee security and Bobby Lee, the founder of BTCC and a crypto expert. Others on board will include venture capitalist and philanthropist Brock Pierce and CEO of Bitcoin.com, Roger Ver. Apart from speeches, the main speakers plan to also run workshops and one-on-one consultations.

Lectures and workshops covered will cover managing crypto investments, understanding regulations and all things blockchain. Other aspects within this main framework will be cybersecurity, trading and scalability issues.

Blockchain and crypto-conferences are becoming fashionable in the new digital world, dressed for fun but with business lurking in the background ready to pounce. It’s not surprising then that CoinsBank has dressed up three conferences to date as parties, given recent history.

In this year’s Dubai Futurama summit, the conference to surpass all others in terms of razzmatazz, the actual blockchain discussions were basically molded around networking events and basically, having fun. However, these events don’t come cheap, with admission prices running into the thousands of dollars; many happy to pay these after striking up a rewarding business relationship or tapping into yet another good idea. A cruise would be no cheaper.

As has been said elsewhere, possibly at Brock Pierce’s highly-publicized recent desert conference, information is great but having a good time in the process of acquiring it makes it even better. Of course, what he actually said was “…the most likely way to get me to attend your conference is to throw really good parties”.

 

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McAfee Furious over SEC Decision to Classify ICOs as Securities, Demands Debate with SEC Chairman

Infamous cryptocurrency advocate John McAfee, who is running for President of the United States with a campaign platform that focuses on cryptocurrency, is furious over the Security and Exchange Commission’s (SEC) decision to classify most initial coin offerings (ICOs) as securities. He is demanding a debate with SEC chairman Jay Clayton that would he hopes to be broadcast on CNN.

McAfee makes a significant portion of his money from advertising ICOs on his Twitter feed where he has 827,000 followers. Apparently, he makes USD 105,000 per promotional ICO Tweet, which he admits is “embarrassingly” huge. This is all down to a supposed “McAfee Effect” where cryptocurrency prices jump after they are promoted in his Tweets.

It is, therefore, no surprise that McAfee is upset about the recent declaration from the SEC that ICOs will be treated as securities if there is an organization making money from conducting the ICO, and if people who invest in the ICO expect a return on their investment. If ICOs are considered securities then John McAfee could end up facing severe legal consequences for promoting ICOs that aren’t properly licensed by the SEC.

He says that he will no longer work for future ICOs under the current conditions, but promises to fight the SEC’s decision. He believes that ICOs don’t meet the criteria for the Howey Test which was created by the Supreme Court to define what a security is.

McAfee says that if the SEC tries to prosecute any ICO activity prior to the date of their announcement, then he will become “the greatest thorn in the side of the SEC since the founding of our Constitution”.

McAfee has challenged the SEC to a debate on CNN, having previously lambasted the FBI and NSA on CNN and RT, respectively. In typically provocative fashion, he welcomes the opportunity to “rip the SEC a new butthole”.

He will have certainly raised eyebrows by posting the phone number and email of SEC Chairman Jay Clayton on his Twitter feed, urging his followers to pressure Clayton to give in to McAfee’s demands.

 

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McAfee Says Bitcoin Will Hit $15K By July 2018, $1M by 2020

John McAfee says Bitcoin will hit USD 15,000 by the end of July 2018 at the latest. This revises his earlier prediction that the mark would be reached in June. He says that the recent price crash, which has brought Bitcoin down to USD 6,400 as of this writing, is due to an overreaction about news that Bitcoin exchanges are being investigated for price manipulation. He says this will delay the bull rally by no more than 30 days.

In his most notorious prediction, McAfee said Bitcoin would hit USD 500,000 by the end of 2020. He made this prediction when Bitcoin was near USD 2,250 on 17 July 2017, and after this Bitcoin experienced its biggest rally in history, reaching nearly USD 20,000 in December 2017.

The prediction that Bitcoin would rally followed by an order of magnitude price increase brought McAfee much fame in the crypto world, especially since he made a specific prediction that Bitcoin would hit USD 5,000 by the end of 2017 and that prediction came to fruition with plenty of time to spare.  He has used this fame to earn lucratively from advertising initial coin offerings on his Twitter feed.

He famously he upped the stakes and revised his long-term prediction for USD 1 million by the end of 2020, reiterating his promise to consume a sensitive body part on national television if incorrect.

When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD

— John McAfee (@officialmcafee) November 29, 2017

When looking at a long-term logarithmic graph of Bitcoin’s price on bircoin.top, it can be seen that McAfee’s prediction isn’t so far-fetched. Bitcoin’s price has been increasing by an order of magnitude roughly every one to two years, having increased four orders of magnitude between 2011 and 2018 from around a dollar to USD 10,000.

In addition to being a self-declared “Bitcoin prophet”, John McAfee is also running for President of the United States in order to provide the ultimate PR platform for the cryptocurrency community.

 

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