OUT OF MIND
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Died Suddenly's - 01/26/23
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyYesterday at 11:53 am by PurpleSkyz

» Earth’s Core Has Stopped and May Be Reversing Direction, Study Says
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyYesterday at 11:48 am by PurpleSkyz

» Transgender Agenda News
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyYesterday at 11:33 am by PurpleSkyz

» Parsing an Ungrateful Generation
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyYesterday at 11:22 am by PurpleSkyz

» ‘Engineered’, Yes,…But In The Wuhan Lab?
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyYesterday at 11:18 am by PurpleSkyz

» It's Hammer Time - San Francisco judge orders police bodycam footage of Paul Pelosi attack to be released
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyYesterday at 11:16 am by PurpleSkyz

»  Establishment Demands You Stop Damar Hamlin Conspiracy Theories
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyYesterday at 11:10 am by PurpleSkyz

» Record Renewable Energy Generation in Australia Led to Record Low Demand and Emissions in Fourth Quarter of 2022
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyYesterday at 1:03 am by PurpleSkyz

» Consuming medicinal cannabis oil improves sleep in adults with insomnia
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyYesterday at 12:53 am by PurpleSkyz

» Major Blow as Experimental HIV Vaccine Fails in Late Clinical Trial
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyYesterday at 12:35 am by PurpleSkyz

» Oh Oh!! - 90 seconds to midnight
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyYesterday at 12:31 am by PurpleSkyz

» NASA is building a nuclear rocket to get to Mars in just 45 days
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyYesterday at 12:29 am by PurpleSkyz

» BOMBSHELL: New Project Veritas video hits it out of the park!!! Watch now!
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyYesterday at 12:17 am by PurpleSkyz

» This gigantic Face discovered on a mountain near the village of Sardi Khola in Nepal
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyWed Jan 25, 2023 11:35 am by PurpleSkyz

» Meanwhile…here on planet vaudeville…
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyWed Jan 25, 2023 11:12 am by PurpleSkyz

» I Want To Stop CBDCs – What Can I Do?
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyWed Jan 25, 2023 11:07 am by PurpleSkyz

» Good People Doing Good Things — Dr. Kwane Stewart
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyWed Jan 25, 2023 11:03 am by PurpleSkyz

» Priests Doing What Priests Do
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyWed Jan 25, 2023 10:28 am by PurpleSkyz

» Died Suddenly's - American Fashion Model Jeremy Ruehlemann Dead at 27 plus more
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyWed Jan 25, 2023 12:39 am by PurpleSkyz

» Damar Hamlin is officially Tiffany Dover the sequel after sloppy propaganda display during Bengals at Bills game
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyWed Jan 25, 2023 12:35 am by PurpleSkyz

» Non-Violent J6 Protester Who Put Feet Up On Pelosi’s Desk Found Guilty On All Charges, Faces Life in Prison
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyWed Jan 25, 2023 12:28 am by PurpleSkyz

» City adds defibrillators to 4 Las Vegas parks
John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete EmptyWed Jan 25, 2023 12:24 am by PurpleSkyz

You are not connected. Please login or register

OUT OF MIND » THE INSANITY OF REALITY » FINANCIAL COLLAPSE » John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete

John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete

Go down  Message [Page 1 of 1]

PurpleSkyz

PurpleSkyz
Admin

John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete
01/12/2020 / By Ethan Huff

John McAfee just withdrew his famous 2020 prediction about Bitcoin, now says the cryptocurrency is essentially obsolete Mcafee

There was a time when John McAfee of antivirus fame predicted that Bitcoin would reach $1 million by 2020. But he’s since changed his mind and decided that Bitcoin will eventually reach $0 because the cryptocurrency is based on “ancient” technology.
Part of McAfee’s former $1 million claim included a personal promise; if it didn’t “shoot the moon,” then McAfee was going to remove his genitalia. But now McAfee claims that this was all just a ploy for attention, and that he never actually intended to do this.
Though McAfee founded one of the largest cybersecurity firms back in 1987, he’s now on the run from authorities. And during a rare interview he gave from an anonymous location recently, McAfee told all about his “adventures,” as well as his newfound opinions on Bitcoin.
“Bitcoin was first,” McAfee wrote in a recent tweet disavowing the cryptocurrency that he once hailed. “It’s an ancient technology. All know it. Newer blockchains have privacy, smart contracts, distributed apps and more. Bitcoin is our future? Was the Model T the future of the automobile?”
Back in May, McAfee endorsed Dogecoin, a newer cryptocurrency that he likes because of its name, apparently. Just a few months later in August, McAfee warned his Twitter followers not to bail on Bitcoin because, “You know in your heart Bitcoin cannot lose.”
So, McAfee really is kind of all over the place when it comes to Bitcoin and the cryptosphere, endorsing one crypto one day and another the next. Reports indicate that he also has a history of accepting cash to pump altcoins, which one source indicates has given him an incentive to bash Bitcoin.
For more related news about the collapse of Bitcoin, be sure to check out BitRaped.com.

Bitcoin is on the way out

McAfee did, however, blow the lid on Bitcoin back in 2017 when he admitted that Bitcoin is centered around artificial work, even while attempting to endorse it.
During an interview with Jamie Dimon, McAfee stated that it costs “over one thousand dollars per coin to create a Bitcoin,” and that the process involves “proof of work” mining. Mike Adams, the Health Ranger, described this as a computation wheel spinning operation where the Bitcoin algorithm contains artificial and needless complexity designed to make Bitcoin mining more difficult than it otherwise needs to be.
At one point in time, it only cost about a penny to mine Bitcoin, yet now it costs more than $1,000, which begs the question as to why this is the case. Adams chalks it up to Bitcoin’s artificial work algorithm, which creates pointless “computation difficulty” for miners, consuming vast amounts of electricity and computational resources to engage in pointless mathematical work that achieves nothing that matters in the real world.
It turns out that Adams realized Bitcoin was obsolete years before McAfee came to the same realization.
“Bitcoin was a proof-of-concept project, but it was never built for massive scalability,” Adams warned in a 2018 podcast. “The very structure of blockchain is a severe bottleneck for processing large numbers of transactions, and the blockchain ledger storage requirements very quickly explode beyond practicality if the currency becomes widely adopted.”
Adams, who supports the overall concept of cryptocurrency and decentralized money systems, says Bitcoin’s mining requirements have already made it not only obsolete, but also one of the largest sources of electricity consumption in some cities where mining operations are based. This electricity is being spent heating CPUs but “achieving nothing practical or even necessary,” warns Adams.

 

So, in many ways, both Adams and McAfee are right: Bitcoin is ancient in that it’s not a financially viable cryptocurrency in the long run, and it lacks features of scalability and functionality that have now become common in other, competing cryptocurrencies.
“On top of all that, Bitcoin is clearly not a store of value, and recent research by Princeton scientists found that Bitcoin isn’t anonymous, either,” Adams goes on to warn.
To keep up with the latest news about Bitcoin, be sure to check out BitcoinCrash.news.
Sources for this article include:
CCN.com
NaturalNews.com

https://glitch.news/2020-01-12-john-mcafee-withdrew-famous-2020-bitcoin-prediction-obsolete.html

Thanks to: https://glitch.news



  

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum