John McAfee, one of the most well-known and controversial personalities in the tech arena, appeared in one of the most sought after podcasts of the crypto arena, Off The Chain. Hosted by the founder of Morgan Creek Digital Anthony Pompliano, better known as Pomp, is hailed as a strong crypto influencer and is widely known for the phrase, “LONG BITCOIN, SHORT THE BANKERS!”. You still must be wondering why they discussed ‘grandmothers’ written in the title but I saved that for the end part of this article. In the podcast John shed some light on his eventful life and Pomp traveled to Bahamas to take the interview in person.
The podcast episode named “Inside the Mind of Crypto’s Bad Boy” and rightly so, features McAfee and Pomp talking about privacy coins, bitcoin’s price in the future, governmental control, running for president, drug usage, etc. With two of the most influential people in the crypto world sitting together, it is an episode not to be taken lightly. Although the use of strong language can be off-putting to some in the conversation then again, it’s who McAfee is.
John McAfee is the person behind the creation of the widely used antivirus software McAfee and he had also expressed his desire of running for the 2020 United States presidential elections. After going through a lot in his life including several arrests, lawsuits, drug abuse and much more, John has recently gained much spotlight in the bitcoin and crypto world.
John McAfee came across bitcoin’s whitepaper in 2011 and being a mathematician, instantly became aware of the prospects that cryptocurrencies offer. According to him, he knows where cryptocurrencies are going. He is of the view that bitcoin’s value is something that should not be considered equal to its price. A drop in price does not mean that bitcoin is losing its value. The technology is something that is to be believed in. He said;
I don’t care if its a penny today, it’s going to be 2 million dollars very soon…What’s happening in the market has nothing to do with the reality of its value.
John is hailed as a big time bitcoin supporter and even predicted once in the past that bitcoin will hit $500,000 in 2020, although later on he reverted back from this claim stating in a tweet:
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020.
After coming across cryptos, John bought a million dollars in Monero due to the privacy features that it offers. An interest in the privacy-based coins seems only natural from the fact that John himself is a cybersecurity person and knows much about what goes on the technical back-end of the crypto world. Talking about other coins which are not privacy-based, he said;
If you send me ethereum or bitcoin…forever after I see everything in your wallet. What comes in, what goes out, when, how much, to whom. Is that rational? Haha no.
As opposed to his staunch belief in bitcoin and privacy coins, John stated in the podcast that he holds and owns nothing in cryptocurrencies. Although John is much more inclined towards privacy, which bitcoin does not provide, he said;
Bitcoin will be our standard. It’s going to be the gold standard, forever.
Talking about mass adoption of cryptos, John stated that the need is to make the interface better for an average person. The wallet addresses are usually long hexadecimal string which makes no sense to an average person. If this space is to grow and gain adoption, the need is to make things simpler so that cryptos can be used for everyday activities.
You have to have a better interface so that grandmothers, plumbers, shoemakers, and people who don’t even speak English can interact.
John also believes that although governments can make legislation to control and make cryptos illegal, there are some things that the governments just can’t control. Privacy is something that stops governments from spying on people. He suggested that governments are threatened by privacy and distributed exchanges and using privacy coins, one can avoid paying taxes. John also criticized the governments who are supposed to act as the servants of the people but instead act as their masters.
Listen to the full podcast here.