OvenizedOscillator, a CWN correspondent, sat down with John McAfee over the weekend at McAfee’s own home. While the topics ranged from Bitcoin to ICOs and AI — and even Roger Ver, — his position regarding the state of regulations was the highlight.
Thank you to @officialmcafee and welcoming us in his home to discuss cryptocurrency and life in general. It was a great experience & looking forward to the future of #blockchain technologies, AI projects, and the mass education/adoption of them. #bitcoin https://t.co/TiGxHVn9uU
— Crypto World News (@CWNproductions) May 12, 2018
McAfee starts the interview by saying, “Keep in mind that politically I’m a libertarian,” to set the stage. He then goes on, “We’re all adults and as such were required to be self-regulated — as individuals.”
McAfee Admits He Vouched for an ICO Scam
While on the topic of self-regulation, the security expert brings up the topic. He admits he recommended an ICO which turned out to be a scam but apologized as soon as he realized it.
He then continues on to say it’s everyone’s responsibility to protect themselves. No governmental authority should be in charge of protecting people from their own negligence — McAfee calls it “stupidity.”
To expand his perspective, he says people need to accept the risks if dealing with cryptocurrency, adding, once again, they should not count on external parties to protect them.
World’s Top Security Expert Disagrees with SEC’s Definition of ‘Security’
He argues regulation cannot be achieved with cryptocurrencies because there is no one to hold accountable, unlike the stock market. McAfee says, “If I’m an owner of Bitcoin, what I do with my coins does not affect you.” OvenizedOscilator then agrees with him.
McAfee discredits the idea that cryptocurrencies need regulation, so people jump onboard the idea. He believes people need to be better informed before investing in digital currencies, regardless of regulation.
McAfee Shares his One Tip on How to Avoid ICO Scams
“If you’re in the community and talking with others, you’re generally not gonna get scammed,” says the cybersecurity expert.
McAfee believes people have the greatest tool at their disposal to fight off scams — the internet. He says people should do their due diligence before jumping on an ICO.
He mentions resources such as blogs, forums, chat groups and overall discussions. McAfee also mentions the importance of checking the background of the team. If you know what they did before, — and how well they did — it might help you steer in the right direction.
Last Bitcoin Should Be Worth Half A Trillion
Moving past regulation and ICOs, the interview continues onto the future of Bitcoin. McAfee predicts the last Bitcoin might take up to a year to be mined and miners might have to all jump together in the same pool.
He adds, “If that last Bitcoin is not worth a half a trillion dollars, I will eat my shoes.” McAfee confidently states that Bitcoin will be over a million dollars by the end of 2020.
Bitcoin Private Will Replace Monero on the Dark Web
When asked by the Crypto World News’s correspondent his opinion on Bitcoin forks, — though McAfee initially jokes, saying “what forks?” — he states Bitcoin Private is not a scam, despite what people may say.
He goes on to say, “It is some serious technology. It adds to Bitcoin what Bitcoin always needed. It makes Bitcoin a superior Monero.”
He then reminisces of Bitcoin’s earliest day when it was used as the main currency on the Dark Web. McAfee believes Bitcoin Private will replace Monero as the de facto currency of illegal activities.