- John McAfee disowned his infamous $ 1 million Bitcoin price prediction.
- But past history suggests his latest remark is just an attempt to gain attention.
- McAfee is also wrong that Bitcoin is “ancient” technology.
John McAfee is one of the crypto industry’s biggest clowns. Yes, he may have founded the eponymous McAfee – one of the world’s largest cybersecurity firms – in (******************************************************************. These days, he’s best known for predicting thatBitcoin would reach $ 1 millionby the end of this year.
Well, his career has taken yet another “unpredictable” turn. On Sunday,he claimed in a tweet that his $ 1 million Bitcoin price prediction was a “ruse”intended to gain publicity.
All the Reasons He’s Wrong About Bitcoin**********************
First of all, Bitcoin is hardly ancient technology, as he suggests. Ten years may be a relatively long time in the tech world, but Bitcoin has seen a series of upgrades since its birth. These include
and the
Excluding Ethereum,Bitcoin boasts the highest number of active monthly developersof all cryptos, at 314. And as even McAfee must surely know, active developers don’t simply watch over static, ancient technology.
So yes, Bitcoin is an evolving entity. Arguably, its relative conservatism has given it a level of stability and robustness lacked by many altcoins. Most importantly, its market dominance will help ensure Bitcoin continues to evolve technologically, while less valuable coins may start to flag over time.
So even if McAfee’s latest remarks are Genuine, they’re nonetheless easily dismissed.
In fact, this isn’t the first time McAfee has bad-mouthed Bitcoin. Back in May,he criticized the cryptocurrency (and Ethereum)and seemed to come out in favor of Dogecoin, simply because “Bitcoin” and “Ethereum” are words with more than one syllable.
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Then, during an August slump, he went back to urging his followers not to lose faith in Bitcoin
.(****************************************(Source:) ****************************************** (Twitter*****************
McAfee also has a glaring conflict of interest. His long history of accepting cash to pump altcoins
gives him a financial incentive to bash Bitcoin.
So make what you will of John McAfee’s latest comments. But if one thing is clear, it’s that he’s a clown whose pronouncements should be taken with a large grain of salt.
Disclaimer: This article represents the author’s opinion and should not be considered investment or trading advice from CCN.com.
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