Primetime Crypto Predictor John McAfee: “Bitcoin Will Become the Gold Standard”
“Bitcoin Will Become the Gold Standard”, McAfee Affirms
During a recent interview, John McAfee, famous for the McAfee antivirus and for its controversial crypto opinions, affirmed that Bitcoin will “skyrocket soon” and will become very valuable over time. He criticized the media for failing to stand up against the U. S. Securities Exchange Commission (SEC), which he described as “shadowy” and to be “acting illegally”.
McAfee continues to defend his thesis that the bull market is just around the corner, a thesis that he has been defending for quite some time now. He pointed out that the Bitcoin market has risen 42% since June 25. He does not believe the correction from the $20,000 USD market was necessary, however, and defends that it was only the result of people not understanding the market very well.
He also denied the possibility of another two year decline before the incline starts up again. According to him, this six month decline was “against all odds” and the market will recover soon. He also affirmed that he was not nervous about the price of Bitcoin at all, which is 57% below his schedule to reach $1 million USD by the end of 2020.
McAfee is so full of confidence that he has a bet to eat his own manhood on live TV if Bitcoin does meet the deadline by then. According to him, pure mathematics say that the price will skyrocket because people will continue to use Bitcoin.
The executive argues that despite the problems of Bitcoin like bad scaling and slow payments, it is clear that Bitcoin has been accepted and that paper and gold does not hold a lot of value, too, other than the fact that people assume they do.
He affirms: Bitcoin will be the new gold standard. You can keep it in a wallet online or offline and simply store it. When people see that bitcoin is digital gold, he believes, the price will rise a lot. And people will choose Bitcoin because they know it. They say Bitcoin instead of cryptocurrencies because it is so prominent and famous.
McAfee Wants “Shadowy and Illegal” SEC Out of The Way
He also has a strong belief that the SEC simply needs to be replaced or removed for Bitcoin to grow. He argues that the SEC is not acting legally stating that ICOs are securities and that this contradicts a ruling of the Supreme Court in the 1950s that defines securities. McAfee also affirmed that Jay Clayton, the SEC chairman, is very likely scared of meeting him again on air following a debate with the FBI in 2016.
McAfee also criticized social media companies for catering to the government and acting like “sub-agencies to the U. S. government”. According to him, Google and Facebook give information for the CIA and the FBI too often. They should be banners for personal freedom but they submit to pressure.
According to him, it is simply too dangerous to go against the SEC because they are the law in the United States and they can harass him for the rest of his life. However, he challenges their positions about considering ICOs and tokens to be securities.
In the past, McAfee has challenged the CEO of JP Morgan, Jamie Dimon, to debate with him. Dimon has already called Bitcoin a fraud but has regretted the claim afterward. McAfee argues that he had this stance because Bitcoin threatens the global banking infrastructure and claim that the financial industry is against him.
McAfee affirms that Jamie Dimon says radical things because he does not understand cryptocurrency very well and has a vested interest in killing it. That is not possible on McAfee’s vision because, according to him, Bitcoin is like a Pandora’s box, as soon as you open it, you can never close it.
At the end of the interview, McAfee stated that he would probably lose against the U. S. President Donald Trump during a debate. He said that it would be a fun debate but that the president is “too polished” and he’s got too many advisers.
“If it was the relative talents of Bangkok prostitutes versus Philippine prostitutes, I would win. On most subjects of importance, probably not”, he affirmed.