{"id":466176,"date":"2021-06-24T10:02:25","date_gmt":"2021-06-24T10:02:25","guid":{"rendered":"https:\/\/wncen.com\/?p=466176"},"modified":"2024-06-11T11:54:43","modified_gmt":"2024-06-11T11:54:43","slug":"john-mcafees-wildest-quotes-about-bitcoin-and-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/john-mcafees-wildest-quotes-about-bitcoin-and-cryptocurrencies\/","title":{"rendered":"John McAfee&#8217;s Wildest Quotes About Bitcoin And Cryptocurrencies"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The highly controversial and highly entertaining <\/span><a href=\"https:\/\/bitcoinist.com\/the-life-and-death-of-john-mcafee-antivirus-legend-crypto-promoter\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">John McAfee is dead<\/span><\/a><span style=\"font-weight: 400\">. As our sister site Bitcoinist informed, \u201c<\/span><a href=\"https:\/\/apple.news\/APRitvOVCR2O0SINHEbUdwQ\" rel=\"nofollow\"><i><span style=\"font-weight: 400\">According to a spokeswoman<\/span><\/i><\/a><i><span style=\"font-weight: 400\"> for the Superior Court of Catalonia, former crypto promoter John McAfee was discovered dead in his prison cell near Barcelona, Spain at the age of 75.<\/span><\/i><span style=\"font-weight: 400\">\u201d A cybersecurity pioneer and an eccentric millionaire, McAfee became obsessed with cryptocurrencies in the latter part of his life.<\/span><\/p>\n<p><span style=\"font-weight: 400\">He went from giving Bitcoin the highest praise to bashing it every time he could. Launched a failed hardware wallet. Pioneered DEXes and briefly operated a trading platform. McAfee ended up promoting every altcoin that had a cheque for him, and virtually none of those succeeded. Quite a colorful crypto career.\u00a0<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/news\/bitcoin\/after-trashing-bitcoin-mcafee-is-promoting-these-three-altcoins\/\">After Trashing Bitcoin, McAfee Is Promoting These Three Altcoins<\/a><\/strong><\/em><\/p>\n<p><span style=\"font-weight: 400\">Of course, you all know what <\/span><a href=\"http:\/\/dickening.com\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">his wildest quote<\/span><\/a><span style=\"font-weight: 400\"> about Bitcoin was. But, what did he think about the big subjects in the crypto space? Let\u2019s pass the mic to the fallen king, and let him rip everything apart using his own words.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">John McAfee On Bitcoin<\/span><\/h2>\n<p><span style=\"font-weight: 400\">As we already told you, he started with the highest praise possible. To <\/span><a href=\"https:\/\/wncen.com\/interview\/john-mcafee-interview-bitcoin-will-become-the-gold-standard\/\"><span style=\"font-weight: 400\">our very own newsdesk<\/span><\/a><span style=\"font-weight: 400\">, he said:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">Bitcoin will become the gold standard. Bitcoin will always be that standard, that you can keep in a wallet offline somewhere and think, this is my retirement income. It is the grandfather; it will always be the best. When people were taught about cryptocurrencies, they were made to say Bitcoin instead of currencies. That\u2019s how prominent it is.<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">And a few years later ended up bashing it, while showing a fundamental misunderstanding of the technology and its value to the world:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">\u00a0I am not a Bitcoin maximalist. I don\u2019t know what the maximalists are thinking. I mean, there\u2019s zero privacy in Bitcoin. Bitcoin doesn\u2019t have smart contracts, and Jesus, there\u2019s nothing. It\u2019s an ancient, arcane technology and yet it\u2019s still going to be worth a fortune.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cAs a store of value and cryptocurrency, it\u2019s the standard. However, it does not do much that the world needs from blockchain today. It\u2019s simply a cryptocurrency.<\/span><\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Whichever Bitcoin Maximalist came up with the term &quot;Shitcoin&quot; for all other coins;<\/p>\n<p>Was brilliant.<\/p>\n<p>But we all know that the future of Crypto rests with the Alt Coins.<\/p>\n<p>Bitcoin &#8211;<\/p>\n<p>Old, clunky, no security, no smart contracts, no DAPs &#8230;.<\/p>\n<p>Is the true Shitcoin.<\/p>\n<p>&mdash; John McAfee (@officialmcafee) <a href=\"https:\/\/twitter.com\/officialmcafee\/status\/02668288?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 29, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">So yeah, even though he saw the store of value aspect, he missed the point entirely about what Bitcoin means for humanity. However, <a href=\"https:\/\/cryptopotato.com\/stop-hodling-start-spending-your-bitcoin-john-mcafee-on-his-1-million-prediction-altcoins-and-his-dex-exclusive-interview\/\" rel=\"nofollow\">he always maintained<\/a> the $1M price target for BTC\u2019s price:\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">\u201cIt can\u2019t be otherwise. Look at the Bitcoin supply and its usage. It is so artificially compressed in value right now. It will simply get out of the artificial constraints to where it should be. I mean, there will only be 21 million coins ever, and seven million of them are lost.\u201d<\/span><\/p><\/blockquote>\n<h2><span style=\"font-weight: 400\">About Blockchain Technology<\/span><\/h2>\n<p><span style=\"font-weight: 400\">He was on point <\/span><a href=\"https:\/\/fuk.io\/exclusive-interview-with-john-mcafee\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">with this one<\/span><\/a><span style=\"font-weight: 400\">:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">Well, in 2014 I decided that the blockchain was probably the most revolutionary software technology that I had seen in my 50 years of doing computer science.<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">No argument there. And to think, it\u2019s only a little part of what makes Bitcoin special.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Here&#39;s what I find funny: Ethereum is trashed more than any currency, and yet no currency is more necessary and central due to It&#39;s smart contract platform that is used by more than 50% of all new altcoins. It&#39;s like everyone values water, but not the containers it is carried in.<\/p>\n<p>&mdash; John McAfee (@officialmcafee) <a href=\"https:\/\/twitter.com\/officialmcafee\/status\/9794008?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 29, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span style=\"font-weight: 400\">He Was All-In On Altcoins<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The man, the myth, the legend was <\/span><a href=\"https:\/\/cryptopotato.com\/stop-hodling-start-spending-your-bitcoin-john-mcafee-on-his-1-million-prediction-altcoins-and-his-dex-exclusive-interview\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">convinced that Altcoins<\/span><\/a><span style=\"font-weight: 400\"> were the next step.<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">The altcoins are obviously where the real action is, and there are some super brilliant people there. Things like DAI, the only real stablecoin. It never varies more than 1% up or down from the US dollar. And I dabbled in it, I\u2019ve been watching it, and it\u2019s astonishingly based on smart contracts.<\/span><\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Does anyone else see the insanity of virtually all of crypto being tied to the value of Bitcoin?<\/p>\n<p>Why for example, should Monero, whose value is its Privacy, be tied in any way to a coin that has ZERO privacy &#8212; Bitcoin?<\/p>\n<p>&mdash; John McAfee (@officialmcafee) <a href=\"https:\/\/twitter.com\/officialmcafee\/status\/50460417?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 1, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">And he was especially interested in <\/span><a href=\"https:\/\/fuk.io\/exclusive-interview-with-john-mcafee\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">stablecoins and privacy<\/span><\/a><span style=\"font-weight: 400\"> coins:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">I think there are two things that will survive no matter what is coming in the cryptoworld. Those are privacy coins, true privacy coins where no one can know anything about a transaction. And stable coins, like DAI, that do not vary in value. From a stable item, or an unstable item like the US dollar. DAI has never varied more than one penny from the US dollar.\u00a0<\/span><\/p><\/blockquote>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-466178 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/06\/XMRUSD.png?resize=460%2C267\" alt=\"XMRUSD price chart for 06\/24\/2021 - TradingView\" width=\"460\" height=\"267\"><\/p>\n<pre style=\"text-align: center\">Monero price chart on Bitfinex | Source: XMR\/USD on <a href=\"https:\/\/www.tradingview.com\/symbols\/XMRUSD\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n<h2><span style=\"font-weight: 400\">John McAfee On DEXes<\/span><\/h2>\n<p><span style=\"font-weight: 400\">One of McAfee\u2019s last projects was a Decentralized Exchange. He was convinced that <\/span><a href=\"https:\/\/fuk.io\/exclusive-interview-with-john-mcafee\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">the world needed it<\/span><\/a><span style=\"font-weight: 400\">:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">We have to have distributed exchanges as users of cryptocurrencies created by the people like Bitcoin and Monero-based or otherwise that\u2019s going to die. Because as China proved two years ago, in 24 hours, they shut down every exchange in China. Overnight. It\u2019s a piece of cake. We have an address where the office is, we go in and we turn off the electricity, or arrest everybody, or you know, just whatever. Easy. So without distributed exchanges we\u2019re lost, because without an exchange what are all these disparate currencies if we have no way to trade between.<\/span><\/p><\/blockquote>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/news\/bitcoin\/why-the-dark-nets-most-active-market-ditched-bitcoin-for-monero\/\">Why The Dark Net\u2019s Most Active Market Ditched Bitcoin For Monero<\/a><\/strong><\/em><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A CHALLENGE TO MEMBERS OF GONGRESS<\/p>\n<p>Are you willing to be tokenized on the Blockchain &#8211; meaning every penny that comes into or leaves any of your accounts must be digital, and every penny placed on the blockchain so the American people can forever see its movement?<\/p>\n<p>If not, why?<\/p>\n<p>&mdash; John McAfee (@officialmcafee) <a href=\"https:\/\/twitter.com\/officialmcafee\/status\/93946112?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 7, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">And about governance and decentralization in general, <\/span><a href=\"http:\/\/www.blockchainfo.cz\/interview-john-mcafee\/t1166\" rel=\"nofollow\"><span style=\"font-weight: 400\">he thought<\/span><\/a><span style=\"font-weight: 400\">:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">I think developers make whatever decision they want with open source code. So problem is open-source. I mean if you wanna change it and put your name on it, and change the wallet addresses to some wallet belonging to you, please god, do so! That\u2019s your fundamental right, all right?!<\/span><\/p>\n<p><span style=\"font-weight: 400\">If you make it open source, you can\u2019t complain about what people do with than after.<\/span><\/p>\n<p><span style=\"font-weight: 400\">So, do we need governance? No!<\/span><\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The SEC and IRS tell me I was wrong to create an anonymous and unrestricted DEX for use by law abiding citizens because criminals may also use the exchange. That&#39;s like saying automobiles can&#39;t be built because bank robbers will use them as getaway cars.<a href=\"https:\/\/t.co\/HdSEYi9krq\" rel=\"nofollow\">https:\/\/t.co\/HdSEYi9krq<\/a><\/p>\n<p>&mdash; John McAfee (@officialmcafee) <a href=\"https:\/\/twitter.com\/officialmcafee\/status\/77554946?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 12, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">And, to close this off and finish his thoughts on governance, McAfee had this beautiful insight:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">No, we don\u2019t need that to, we trying to get away from it, we trying to develop a system of mathematics that eliminates the need for trust and the need for control.<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">Rest in peace, John McAfee.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The highly controversial and highly entertaining John McAfee is dead. As our sister site Bitcoinist informed, \u201cAccording to a spokeswoman for the Superior Court of Catalonia, former crypto promoter John McAfee was discovered dead in his prison cell near Barcelona, Spain at the age of 75.\u201d A cybersecurity pioneer and an eccentric millionaire, McAfee became obsessed with cryptocurrencies in the latter part of his life. He went from giving Bitcoin the highest praise to bashing it every time he could. Launched a failed hardware wallet. Pioneered DEXes and briefly operated a trading platform. McAfee ended up promoting every altcoin that had a cheque for him, and virtually none of those succeeded. Quite a colorful crypto career.\u00a0 Related Reading | After Trashing Bitcoin, McAfee Is Promoting These Three Altcoins Of course, you all know what his wildest quote about Bitcoin was. But, what did he think about the big subjects in the crypto space? Let\u2019s pass the mic to the fallen king, and let him rip everything apart using his own words. John McAfee On Bitcoin As we already told you, he started with the highest praise possible. To our very own newsdesk, he said: Bitcoin will become the gold standard. Bitcoin will always be that standard, that you can keep in a wallet offline somewhere and think, this is my retirement income. It is the grandfather; it will always be the best. When people were taught about cryptocurrencies, they were made to say Bitcoin instead of currencies. That\u2019s how prominent it is. And a few years later ended up bashing it, while showing a fundamental misunderstanding of the technology and its value to the world: \u00a0I am not a Bitcoin maximalist. I don\u2019t know what the maximalists are thinking. I mean, there\u2019s zero privacy in Bitcoin. Bitcoin doesn\u2019t have smart contracts, and Jesus, there\u2019s nothing. It\u2019s an ancient, arcane technology and yet it\u2019s still going to be worth a fortune.\u201d \u201cAs a store of value and cryptocurrency, it\u2019s the standard. However, it does not do much that the world needs from blockchain today. It\u2019s simply a cryptocurrency. Whichever Bitcoin Maximalist came up with the term &quot;Shitcoin&quot; for all other coins; Was brilliant. But we all know that the future of Crypto rests with the Alt Coins. Bitcoin &#8211; Old, clunky, no security, no smart contracts, no DAPs &#8230;. Is the true Shitcoin. &mdash; John McAfee (@officialmcafee) January 29, 2020 So yeah, even though he saw the store of value aspect, he missed the point entirely about what Bitcoin means for humanity. However, he always maintained the $1M price target for BTC\u2019s price:\u00a0 \u201cIt can\u2019t be otherwise. Look at the Bitcoin supply and its usage. It is so artificially compressed in value right now. It will simply get out of the artificial constraints to where it should be. I mean, there will only be 21 million coins ever, and seven million of them are lost.\u201d About Blockchain Technology He was on point with this one: Well, in 2014 I decided that the blockchain was probably the most revolutionary software technology that I had seen in my 50 years of doing computer science. No argument there. And to think, it\u2019s only a little part of what makes Bitcoin special. Here&#39;s what I find funny: Ethereum is trashed more than any currency, and yet no currency is more necessary and central due to It&#39;s smart contract platform that is used by more than 50% of all new altcoins. It&#39;s like everyone values water, but not the containers it is carried in. &mdash; John McAfee (@officialmcafee) March 29, 2018 He Was All-In On Altcoins The man, the myth, the legend was convinced that Altcoins were the next step. The altcoins are obviously where the real action is, and there are some super brilliant people there. Things like DAI, the only real stablecoin. It never varies more than 1% up or down from the US dollar. And I dabbled in it, I\u2019ve been watching it, and it\u2019s astonishingly based on smart contracts. Does anyone else see the insanity of virtually all of crypto being tied to the value of Bitcoin? Why for example, should Monero, whose value is its Privacy, be tied in any way to a coin that has ZERO privacy &#8212; Bitcoin? &mdash; John McAfee (@officialmcafee) May 1, 2020 And he was especially interested in stablecoins and privacy coins: I think there are two things that will survive no matter what is coming in the cryptoworld. Those are privacy coins, true privacy coins where no one can know anything about a transaction. And stable coins, like DAI, that do not vary in value. From a stable item, or an unstable item like the US dollar. DAI has never varied more than one penny from the US dollar.\u00a0 Monero price chart on Bitfinex | Source: XMR\/USD on TradingView.com John McAfee On DEXes One of McAfee\u2019s last projects was a Decentralized Exchange. He was convinced that the world needed it: We have to have distributed exchanges as users of cryptocurrencies created by the people like Bitcoin and Monero-based or otherwise that\u2019s going to die. Because as China proved two years ago, in 24 hours, they shut down every exchange in China. Overnight. It\u2019s a piece of cake. We have an address where the office is, we go in and we turn off the electricity, or arrest everybody, or you know, just whatever. Easy. So without distributed exchanges we\u2019re lost, because without an exchange what are all these disparate currencies if we have no way to trade between. Related Reading | Why The Dark Net\u2019s Most Active Market Ditched Bitcoin For Monero A CHALLENGE TO MEMBERS OF GONGRESS Are you willing to be tokenized on the Blockchain &#8211; meaning every penny that comes into or leaves any of your accounts must be digital, and every penny placed on the blockchain so the American people can forever see its movement? If not, why? &mdash; John McAfee (@officialmcafee) January 7, 2020 And about governance and decentralization in general, he thought: I think developers make whatever decision they want with open source code. So problem is open-source. I mean if you wanna change it and put your name on it, and change the wallet addresses to some wallet belonging to you, please god, do so! That\u2019s your fundamental right, all right?! If you make it open source, you can\u2019t complain about what people do with than after. So, do we need governance? No! The SEC and IRS tell me I was wrong to create an anonymous and unrestricted DEX for use by law abiding citizens because criminals may also use the exchange. That&#39;s like saying automobiles can&#39;t be built because bank robbers will use them as getaway cars.https:\/\/t.co\/HdSEYi9krq &mdash; John McAfee (@officialmcafee) November 12, 2019 And, to close this off and finish his thoughts on governance, McAfee had this beautiful insight: No, we don\u2019t need that to, we trying to get away from it, we trying to develop a system of mathematics that eliminates the need for trust and the need for control. Rest in peace, John McAfee.<\/p>\n","protected":false},"author":539,"featured_media":384803,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12436,5651,12132,3,16898],"tags":[142,428,1026,11920,1693,14473,2296,7564,7369,83758],"class_list":["post-466176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ai-and-tech","category-bitcoin","category-blockchain","category-news","category-monero-xmr","tag-altcoins","tag-bitcoin","tag-blockchain-technology","tag-dai","tag-decentralization","tag-dex","tag-hardware-wallet","tag-john-mcafee","tag-monero","tag-rip-john-mcafee"],"acf":[],"yoast_head":"\n<title>John McAfee&#039;s Wildest Quotes About Bitcoin And Cryptocurrencies<\/title>\n<meta name=\"description\" content=\"The highly controversial and highly entertaining John McAfee is dead. 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