Crypto Trailblazer John McAfee Announces Plans to Release First “Proof of Encounter” Coin, Echos Same $1 Million Bitcoin Price Prediction Claim by Year 2020
John McAfee made a stir across the crypto community earlier today when he announced plans to launch something called the “Proof of Encounter” coin. At the same time, McAfee repeated his claim that bitcoin will break the $1 million price point by 2020.
We are are soon releasing the first "Proof of Encounter" coin: Did you get your sorry ass off the sofa and go to that Nissan dealer and test drive that red convertible you've been eyeing, and collect your "Encounter Coins" or not? Fucking simple as that.
— John McAfee (@officialmcafee) August 19, 2018
“We are are [sic] soon releasing the first “Proof of Encounter” coin,” announced McAfee on Twitter on August 19.
Then, McAfee got vocal on twitter:
“Did you get your sorry ass off the sofa and go to that Nissan dealer and test drive that red convertible you’ve been eyeing, and collect your “Encounter Coins” or not? Fucking simple as that.”
In a follow-up tweet, McAfee suggested that the Proof of Encounter coin could be used to verify all sorts of different encounters. If you run into someone in the real world, then that could generate a “Proof of Encounter” coin – at least, that appears to be the point of the coin.
John McAfee once again got expressive when talking about use cases:
“Want to prove your [sic] a badass? Or the best fuck on the planet? Or your fearlessness knows no bounds? The blockchain will soon know – Through the magic of our “Proof of Encounter” mining system. You will know for a fact. And so will the whole world. No more bullshit people.”
Adding more dialogue to digest,
Churches: Attendance has declined for years. Imagine what a “proof of Encounter” coin could do for church attendance? See the beauty of this. If universally accepted, would this not obliterate ALL existing advertising channels. Think it through. Is this not the first real weapon?
Details Are “Coming Soon”
As far as we can tell, the two tweets above are the only two pieces of public information about John McAfee’s Proof of Encounter coin.
Someone asked him on Twitter if there are any further details. McAfee responded that they would be “coming soon”.
Based on McAfee’s expletive-laden and grammatically-questionable tweets, Proof of Encounter coins would be used to verify meetings in the real world. You could generate a proof of encounter when test driving a vehicle at a specific dealership, for example. Companies could pay you for that encounter.
We’ll have to wait for more information about McAfee’s mysterious Proof of Encounter coin. Remember earlier this year he did come out with the McAfee Redemption Unit tokens as well for those who want to revisit this.
For now, we have this ode to enjoy about the Proof of Encounter cryptocurrency coin that will be releasing soon:
My ode to the encounter coin: pic.twitter.com/3IAAIHFo13
— John McAfee (@officialmcafee) August 19, 2018
Impressive, right? Let's hope Mr. McAfee's newest cryptocurrency product is along the same melody.
McAfee Repeats Claim that Bitcoin Will Be Worth $1 Million By 2020
We’re in the midst of a bear market, but McAfee is optimistic about the future of bitcoin. As the price of cryptocurrency has been going downhill since January 2018, McAfee is undeterred. In an interview with Newsweek this past week, McAfee maintained that bitcoin will be worth $1 million by 2020.
“I absolutely stand by the million-dollar prediction. It is still two and a half years away, in which two things will happen: bitcoin will continue to grow, and the U.S. dollar and other fiat currencies will devalue.”
McAfee famously claimed that he would “eat his own penis” if bitcoin wasn’t worth $1 million by 2020. He certainly isn’t backing down from that claim.
McAfee isn’t alone in his optimistic predictions for the crypto industry. Danial Daychopan, CEO of bitcoin platform Plutus, told Newsweek in the same article that, “The overall trend in the value of bitcoin is still heading north.”
“Bitcoin is a good unit of account,” added Daychopan, “and unlike gold, it’s the perfect unit of exchange. This is a fundamental fact. We’re going to see overall growth of the bitcoin price by the end of the year.”
Daychopan added that he believes bitcoin will be worth £30,000 by the end of the year, then £50,000 by the end of 2019.
A price of bitcoin anywhere near $50,000 would be great news for bitcoin bulls. However, if the price of bitcoin is at $50,000 by 2019, then it would still have a long way to climb to be worth $1 million by the end of 2020.
Ultimately, we’ll have to wait until McAfee releases more details of his Proof of Encounter coin – and we’ll have to wait even longer to see if McAfee has to eat his own… words about his $1 million bitcoin price prediction.