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Exchanges Guide
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Coinbase Review: Is It Safe Haven for Crypto Traders?

  • Vera Yurina
    Exchanges Guide

    One of the most well-established cryptocurrency exchange platforms, Coinbase, has recently received a lot of negative reviews. Is it still worth using?

Coinbase Review: Is It Safe Haven for Crypto Traders?
Cover image via u.today
Contents

Since cryptocurrency made waves in 2017, investors started taking interest in online exchange platforms — this is the sole mediator between the buyer and crypto companies. One of the world’s largest crypto brokers, Coinbase, stays at the top of popularity, but there are some safety concerns popping up here and there. Is the platform still worth our trust? What its strong and weak sides are? It’s high time to observe Coinbase in the minutest details.

Coinbase Review. Should I buy coins on it?

Coinbase was established by Brian Armstrong and Fred Ehrsam in San Francisco in 2012 and now operates in over 30 countries worldwide. As a wallet, it’s available in 190 countries. By this moment, Coinbase is being used by 12 mln customers and has already served to convert $40 bln in digital currencies. In 2013, it was the largest cryptocurrency exchange in the world and the best-funded Bitcoin startup. The key feature making it different is the opportunity for users to trade their currency at a set price according to the market value. Besides, it’s one of few online exchange platforms that accept credit cards.

Coinbase offers two basic products:

  • Coinbase Pro (formerly GDAX) — a professional asset trading platform.

  • Retail brokers of cryptocurrencies (Bitcoin, Bitcoin Cash, Ether, Ethereum Classic, and Litecoin) for fiat currency.

Additionally, developers and corporate users can exploit its proprietary API to build their applications on the basis of Coinbase Pro and accept crypto payments. In March 2018, Coinbase Pro started supporting ERC-20 tokens. No IPO will be launched, despite the rumors.

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To dispel your safety doubts, it should be mentioned that Coinbase Pro is officially registered and fully certified. It is supported by key cryptocurrency companies and investors: Andreessen Horowitz, Rabbit Capital, The NYSE, Union Square Ventures (USV) — the list of contributors can go on and on.

Who Is Recommended to Use Coinbase Pro?

  1. People from the USA, United Kingdom, Canada, Singapore, and some European countries (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland).

  2. Those who use credit cards and need fast service (instant exchange for cardholders is guaranteed).

  3. Investors who work with a few popular cryptocurrencies (BTC, BCH, ETH, ETC, ZRX, LTC).

Although Coinbase Pro managed to build a solid reputation during the five years of its existence, the platform’s image was recently tarnished by negative reviews: this year, the amount of complaints has risen by 100%. The vast majority of feedbacks said that “money was not available when promised.” So, what’s the catch?

Is Coinbase Pro safe? Past Issues

Although Coinbase Pro was never implicated in any hacking scandals, a few other serious issues took place.

For instance, in February 2018, Coinbase Pro representatives said that the personal data (taxpayer ID, name, birth date, address, and historical transaction records) of some platform users collected in 2013-2015 will be handled to the IRS within three weeks. That is a direct violation of privacy.

Allegations of fraud were sent in summer 2018, too. During the January-June 2018 period, the SEC (Securities and Exchange Commission) and the California Department of Business Oversight received over 134 pages of complaints. Most of them look like:

imageAs practice shows, bombarding the customer support with tickets and messages isn’t of much help: despite the fact that Coinbase Pro has recently ramped up its customer service, the team appeared to be unprepared for the flow of issues.

The users from CIS and Russia seem to be enraged, too. Their Coinbase Pro wallets get eventually blocked together with the local IP addresses. The process of withdrawal may take weeks or even months.

People continue expressing their frustration, while Coinbase Pro spokesman said that due to the growing interest in cryptocurrency, the company finds it challenging to handle an enormous amount of transaction requests. There were no comments upon the allegations of lost funds — Coinbase Pro privacy policy “prohibits commenting on specific customer cases.”

Coinbase Pro is working hard on restoring customers’ trust, and time will show whether the victims of blockage will receive their funds back.

How Does Coinbase Work? How to Use Coinbase?

As it has been mentioned, Coinbase performs several functions: this is an exchange platform, a wallet, and a trading platform. Let’s take a closer look at these features.

  1. Brokerage service for selling and buying cryptocurrencies. Having a friendly user interface, Coinbase Pro allows performing transactions quickly even for starters. However, your assets aren’t under your control — it’s like putting money to a bank account. No private key or a seed phrase is provided.

  2. Coinbase wallet is available both on the website and as an iOS or Android application. The wallet keeps the private keys on the user’s device.

  3. Solutions for merchants allow accepting cryptocurrencies on an e-commerce website with the help of a dedicated plugin. This plugin is supported by a few popular CMS (Shopify, Magento, and WooCommerce).

Together with Wilshire Phoenix, Coinbase Pro will launch the new investment instrument soon.

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Ways of Purchasing Cryptocurrency on Coinbase Pro

Coinbase Pro interface is intuitive and comprehensible: registering on it won’t take much time and effort. As soon as you get a new account, you will need the currency to trade with. Want to buy the digital assets for fiat currency? There are several payment options available: wire transfer (including ACH in the US and SEPA in the EU), credit cards, and debit cards.

As soon as a deposit is made, the user can perform cryptocurrency transactions. You can either find suitable deals and act as a taker or make your own exchange request and be a maker. In most cases, the requests are handled instantly. Please note that the deal makers in Coinbase Pro aren’t charged commissions or fees.

There are several types of requests:

Regular orders

Instant purchase of cryptocurrency for the current price. Set the required amount of coins and click Place Buy/Sale Order.

Limited orders

Cryptocurrency is traded for the user’s price, not market’s. The trader can set up the desired cryptocurrency price, and as soon as it reaches this threshold, the order will be opened. The option is available for both makers and takers.

Orders with stop signals

This option is helpful in cases when the price of cryptocurrency suddenly goes down. As soon as the cryptocurrency price reaches the minimum limit, the order is opened.

Aside from the trading platform, Coinbase Pro offers analytical tools for comparing the prices: graph charts, indicators, etc. That allows holding finger on the pulse and making smarter decisions.

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Coinbase Pro Fees

When it comes to Coinbase Pro fees, user’s opinions are contrary. Some claim that the commission is more than agreeable, while others claim the platform robs the clients. The percent of commission depends on the withdrawal/deposit method used. Thus, bank transfers are charged with 1.5-percent fee and take a few days, debit or credit card payments are processed instantly but charged with a 4-percent fee.

The basic market price on Coinbase Pro is +0.5 percent. Flat fees are applied for transactions below $200:

  • For transactions ≤$10, the fee is $0.99.

  • For transactions from $10 to ≤$25, the fee is $1.49.

  • For transactions from $25 to ≤$50, the fee is $1.99.

  • For transactions from $50 to ≤$200, the fee is $2.99.

Money deposit through ACH transfer is free, all other methods are charged $10. The transactions between Coinbase Pro accounts are totally free. The outside transactions to your Coinbase Pro account will require three confirmations to have assets sent to your account.

As you see, the Coinbase Pro fee structure is somewhat tricky. You should learn the rules before starting the game. At the same time, it cannot be called the most expensive solution:

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Transaction Limits & Liquidity

Just like fees, the transaction limits can vary according to the user’s location, the payment option, and verification status. The user can get an insight into the restrictions by checking the account limit page.

Verified US customers have the $25,000 per day limit and the following weekly limits:

  • $5,000 Buy through Bank Account;

  • $50 Buy through Credit/Debit Card;

  • $50,000 Sell.

Note that unverified traders with a credit card can purchase Bitcoin worth only $1,000 per week. European customers are allowed to keep up to €30,000 in their account at any time.

In order to raise the limit, users should undergo the verification process that includes providing your phone number with some personal information and uploading and verifying their photo.

Coinbase or Coinbase Pro?

Coinbase Pro, formerly called GDAX, has a lot of advantages. While the regular Coinbase brokerage platform simplifies the process of trading, Coinbase Pro is tailored for more crypto-savvy users, featuring 22 trading pairs. The platform renders a myriad of advanced trading instruments: real-time order books, trade histories, and charting tools. It also allows trading BTC, ETH, LTC, BCH, and ZRX, but the fees are way lower, and customers can enjoy advanced trading features.

Coinbase Bitcoin Wallet Review

In 2019, Coinbase launched the proprietary mobile wallet services. The wallet allows users to send, receive and store cryptocurrency (BTC, ETH, LTC). It also stores the private keys on the user’s device, and 98% of user’s cryptocurrency is stored in cold wallets to prevent stealing.

The process of sending assets from your wallet is quite easy:

  • Sign in and open the “Send” tab in your account.

  • Select the wallet to send money from and the cryptocurrency.

  • Enter the amount of currency.

  • Enter the address where you send the funds to.

  • Push “Send.”

For receiving cryptocurrency, you should do the following: go to the “Accounts” tab, find the wallet where the cryptocurrency should be sent, and click “Receive.”

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Please note that Coinbase tracks where customers send their funds and can ban users for certain activities and transfers. For instance, your account might be shut out for sending crypto to LocalBitcoins, gambling websites or making darknet purchases. As a rule, users with closed accounts get paid back to the bank accounts.

Setting up a Coinbase Account

The process of the Coinbase account management is relatively simple even if you don’t have any experience working with online crypto exchanges. The website interface is user-friendly and intuitive: the main menus allow for managing services quickly.

Create Account

To register on the Coinbase website, you need to type your name and surname and set up a password. You should also specify your email address and click on the activation link sent to you in an email message. You can also go through the verification process upon every login session using your mobile phone.

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Coinbase partners with legal entities. Users can exploit the platform either as institutional investors or as merchants. After registration, you should define the suitable payment method.

 

ID Verification

To go through a verification process, a trader needs to upload the scanned copy of their ID or passport or any other document that verifies their personality.

Additional Security

To ensure the safety of users’ data and assets, Coinbase leverages 2-factor authentication process: you can either verify your personality via SMS to your phone or with the help of third-party apps like Duo or Google Authentication. Users’ private keys are encrypted. If Coinbase detects a new IP address attempting to access your account, you will be notified about that. Being one of the first to receive US regulatory approval, Coinbase uses Anti-Money Laundering and KYC practices.

However, if your account gets compromised, Coinbase doesn’t bear any responsibility for the funds you lose. For this reason, it’s highly recommended to store the cryptocurrency offline in a wallet that only you control. Make sure that you use a strong password.

Adding Payment Methods

As it has been mentioned, the following payment methods are available:

  • bank transfer;

  • credit or debit cards;

  • Singapore Bank Payments.

In order to use a payment method, you need to go to your account, select the Payment methods page. Click “Add a credit/debit card” and enter the card information. Make sure that the billing address for the card is correct.

Depositing/Sending Cryptocurrency

A deposit can be done via credit/debit cards and bank transfers, but the payment methods and conditions can vary from country to country. To send cryptocurrency, go to Account → Payments → Send. You will need to specify the payment option and the address.

CoinBase FAQ

What Payment Methods Can You Use on Coinbase?

Coinbase users can deposit and withdraw money using wire transfers and debit/credit cards. Please note that the outside transactions should be confirmed three times before they will show up in the user’s account.

The US users can also order The Shift Card. This is a VISA card that allows Coinbase users spend Bitcoin from their account in any place where VISA is accepted. The card costs $10, but there are no transaction fees for any domestic purchases and no fees for BTC/USD conversion.

Does Coinbase Support Your Country?

At the moment, Coinbase supports the following countries: Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom and the United States.

Is Your Privacy Kept While Using Coinbase?

To protect users’ privacy, Coinbase uses SSL encryption, 2-factor authentication, and a few other security practices. The funds can be stored in Coinbase Vault — a cold wallet with the private keys available for the user only.

How Fast Does Coinbase Send You Bitcoins?

Withdrawal of funds to your bank account by SEPA transfer takes 1–2 business days. Withdrawal with a wire transfer is done by the next business day.

Customer Support

Customer support service is where the Coinbase pitfalls hide. The Internet teems with negative users’ feedbacks: customers are disappointed with the ticket system and support agents — they have to wait for an answer for weeks.

Other complaints were connected with the inability to buy or withdraw funds: Coinbase appeared to be unready for the meteoric rise of the number of users. That caused eventual downtime. Since September, some users are unable to withdraw their cryptocurrency, and their cases are pending.

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Conclusion

To sum it up, Coinbase is easy to use: its team has managed to make the navigation process flawless. Coinbase Pro is perfect for traditional traders as it provides the whole gamut of useful tools. However, it seems like the platform is currently focused on attracting new customers instead of satisfying the existing ones. The number of negative reviews is overwhelming, so Coinbase is definitely not for the faint of the heart.

Yet, if you don’t face any issues, the prices and fees are more than agreeable. Coinbase is ideal for buying cryptocurrency. But if you don’t want to lose the hard-earned coins, better buy a hardware wallet to store the funds.

To make the final decision, compare the advantages and drawbacks of the platform:

Pros

Cons

Platform navigation doesn’t require any specific skills. It’s perfect for newcomers.

Coinbase monitors how users spend their money.

It allows buying cryptocurrency faster than on many other exchanges.

Coinbase wallet is less secure than a hardware wallet.

Both credit and debit card payments are available.

Poorly organized customer support.

Low fees.

The choice of cryptocurrencies is severely limited.

The company is officially regulated.

No credit leveraging is available.

There were no cases of hacking.

 
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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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🎤 Interviews
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Exclusive Interview with John McAfee: Epstein Didn’t Kill Himself, Bitcoin to Hit $1 million, & “Russian Roulette”

  • Rimma Trukhina
    🎤 Interviews

    Why Bitcoin should hit $1 million? Why is Epstein on a token? What’s the story behind the photo with a gun to his head? Here’s the Part 2 of our interview with Mr. McAfee

Exclusive Interview with John McAfee: Epstein Didn’t Kill Himself, Bitcoin to Hit $1 million, & “Russian Roulette”
Cover image via 123rf.com

In the first part of our interview with John McAfee, we discussed various topics in-depth, such as his run for President, McAfeeDex, and his opinion on stablecoins. Today, we continue talking about the future of cryptocurrencies and the government’s role in it. Mr. McAfee also told me about the story behind the upcoming film “King of the Jungle”. It is based on the story of the Wired reporter Joshua Davis and his three weeks with McAfee in Belize. Let’s jump right into it.

WARNING: Do not attempt to duplicate, recreate, or perform the same or similar stunts or tricks with guns as personal injury and/or property damage may result. U.Today is not responsible for any such injuries or damages.

U.Today: You’re launching a new token called Epstein Didn’t Kill Himself. What can you tell me about this token? Why did you call it that? Why is Hillary Clinton being advertised in the picture?

John McAfee: Okay, it's obviously a joke coin like Dogecoin. There are a couple of things with this token. I believe very strongly that Jeffrey Epstein did not kill himself. I think it's in the interest of the American people and perhaps the world to understand that we must find those responsible for it, and trace it back to those corrupt individuals in power who can do things like wack people while they're in jail. Being in jail is the easiest place to kill someone, and every gangster knows this. So, a little bit to that extent, I took advantage of the memes floating around the Internet. “Jeffrey Epstein Didn't Kill Himself” is a big meme. Everybody was making memes so I thought I would make my own. Mine is the WHACKD token, and with every transaction, 10% is skimmed off the top. With every 1,000 transactions, 1 receiver will lose everything - the entire transaction. It's just whacked. The coin acts as if it’s in a crypto environment, in which there are criminals skimming off the top. There are people whacking entire assets from someone else. 

Now, what's not a joke -  after we constructed this [token], I realized that we've created a truly deflationary token. I mean those who want to exchange or sell their tokens will be the losers, right? It’s because the more they sell, the less volume available. What I mean is that with fewer tokens, the ones who are holding onto their supply will see that supply increase in value. It's just a great social experiment. 

U.Today: So what about Hillary Clinton? 

John McAfee: You know, I know nothing whatsoever about the lady. I’ve never had dinner with her, nor have I shaken hands with her. So, I am not one to answer anything about her. I mean, rumors on the internet are just rumors on the internet. I mean they're sparked by God knows who, and are extinguished by the next rumor. 

John McAfee

Image via http://mcafee2020.com/

U.Today: So, it’s just a joke?

John McAfee: Yes, it was just a joke. Of course, the whole thing is just a meme. You know, a meme looks at a particular situation from a whimsical or interesting aspect. This is what makes it funny. That's all, and so people are creating memes. This one is mine. 

U.Today: Did you know Jeffrey Epstein personally?

John McAfee: No, I did not.

U.Today: What are your thoughts on China’s digital currency - the Digital Currency Electronic Payment (DCEP)? Will the US launch a digital US Dollar in the near future? 

John McAfee: I think that every country and every nation state on this planet will launch their own cryptocurrency. I mean they will be forced to do so because it is so clear that fiat currencies, paper currencies, and even credit cards are so vastly inferior in terms of safety, speed, and ease. In terms of the entire economy, cryptocurrencies are vastly superior, so governments will have to create their own. People, please be aware that all of the coins created by governments on blockchains will monitor your every penny, where it goes, and for what purpose. I mean it's just one more bar in your cage. You can seize upon the opportunities offered by cryptocurrencies, which came by way of the people, and not from the government or from corporations. Just a bunch of ordinary programmers.

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I came from the people and take what the people continue to create, which will always be vastly superior to those monolithic, slow-moving dinosaur-like entities called governments. They just can't create them fast enough, but the people can. So let the people continue to create and everyone that’s listening to me, please choose the digital currency created by the people. There are thousands. It may take you a little bit of learning, a couple of hours maximum, but learn and understand them. And please don't use the government cryptocurrencies even if they say you must use them. They said that we shouldn’t smoke marijuana for the last 75 years. I've heard that people still smoke marijuana. So, you tell me about the difference. Please people, stick with the people, and not with the power that has been suppressing you for thousands of years. 

U.Today: Okay. Do you still believe that Bitcoin (BTC) will hit its $1 million dollar mark by the end of 2020? We all remember what you were going to do if it doesn’t hit that mark. What are the reasons that support your belief?

John McAfee: Because Bitcoin is another deflationary currency. No one has noticed this yet. I don't understand it. There are only 21 million [coins] that can ever exist, and 18 million [coins] have already been mined. This leaves only 3 million left, and it will take many years to mine those 3 million coins. In the meantime, 7 million coins have been lost forever, and for every coin that's mined, four are lost. Do you understand? This is the world's first automatic deflationary currency.

Since nobody seems to have noticed that, I promise you that when they do, which will be within a matter of months, people will go, “Oh my God, look what we missed!” 

John McAfee

Image via http://mcafee2020.com/

U.Today: But why 2020?

John McAfee: Well, because 2020 is 14 months away. I mean the end of 2020. Trust me, that's plenty of time.

U.Today: Do you really know Satoshi Nakamoto? How do you know him? Can you give us some details that won’t compromise Satoshi’s identity? Is it a man, a woman, or a group of people?

John McAfee: I do. Satoshi is a man. That's all I can tell you. Of course, I know who he is, but let me ask you a question. Everybody wants to know about Satoshi, and I was just ready to say something. I was asked not to tell anyone, and while he did not admit to me that he was Satoshi, he did say one thing, “Imagine if the world knew who Satoshi was. Satoshi's life would have to change.” Yes. He is certainly one of the world's richest entities. He would have to surround himself with armed guards because he would be the target of criminals, and he would have to change his way of living. He couldn't just go out in the middle of the night, down to the coffee shop, kick up his feet, light a cigarette, and have an espresso - that part of his life is over. He then said:

So, you want to radically change someone's life. What makes you think you have that right? What if you were the 1% that was wrong? You would have totally destroyed an innocent person's life who’s now incapable of going to the store or a movie without hiring two dozen, full-time armed guards. He’s at the mercy of the people.

After he said that, I thought, “Jesus. My sincerest apologies. I am a stupid old man for not thinking this through.” So, do you want me to tell you now? 

U.Today: No, please don’t. Can you tell me a little about the film “King of the Jungle”? Did you have a particular role in this film, such as with casting or a cameo in a potential scene? Are you looking forward to this film?

John McAfee: I have nothing to do with the movie. I have nothing to do with any documentary that's been done about my life. This is not a documentary though, it is a fiction. Even though I wasn't consulted, I've been in touch with the screenwriters, as they’re really funny and enjoyable people. But I have no control over the film, nor do I know anything about the casting or anything other than what I read in the news. I find out at the same time as the rest of the world.

I do know that, uh, who is the new kid (*McAfee speaking with his wife Janice and asking her the name of the kid playing the reporter), Zac Efron. Apparently, he's an actor. I don't know as I don't get out much. I seldom watch movies. Documentaries are my thing. Zac Efron is playing the reporter that came down to visit me. It's based on a three-week in-depth story about my life in Belize, where Wired reporter Joshua Davis came down to spend a few weeks with me. I expected him to come down and spend an hour or two, or even a day interviewing me, which I was willing to do. However, he wanted to be with me all the time, or at least when he thought I was doing something interesting. Most people would have said, “Oh, you crazy.” But I said, “All right, if you think you're up for it.” Well, he was not up for it. He was literally traumatized by hanging out with me for three weeks.

John McAfee

Image via http://mcafee2020.com/

Afterwards, he went back and wrote a story for Wired. There was actually an eBook called “John McAfee's Last Stand”. I never read it. I mean, I was with him at the time. What can his writing tell me about the events? In the book, he put down what he thought were horrific things. For example, the cover of the ebook is certainly a well-known photo of me with no shirt, my tattoos, and a gun to my head. That's on the cover of the book. After it was all written, they got that photo by sending photographers down here because Josh is a writer, not a photographer.

That [photo] was based on his second day with me, when we were sitting in San Pedro at a big oak table. He was so naive about life. And I said “Joshua! You have to understand, you can't believe anything that you hear. Only half of what you see, and this is the truth.” And he said, “Well, that's nonsense. That's philosophy.” And I go, “Hey, watch this.” I always carry a gun. I pulled out a .357 Magnum revolver, emptied the rounds onto the table, showed him that it was empty, picked up one of the rounds, put it in the gun, spun the cylinder, put it to my head, and pulled the trigger. And he was screaming, “No, don't! Don’t!” You know, he's a slightly built young man, and he's not gonna **** with me or do something because he's literally screaming, “You don't have to do this!” And I said, “Okay. Well, I apologize.”

John McAfee

Image via http://mcafee2020.com/

I then spun the cylinder again and it went click, and now he is totally ****ing frantic. While he's frantically screaming for me not to do it, I'm just sitting there spinning the cylinder while he's yelling. I must've done it 35 times. I then said, “Now, Josh, watch this”. So with a gun in my hand, I took him outside to the beach, aimed the gun at the sand, and pulled the trigger. Boom! Sand goes flying everywhere. Now, Josh is a writer. Any mathematician would know, “You know dude, if you've got a bullet in there, there is no powder in that cartridge.” I mean, any rational person would say that, and by the way Mr. McAfee, that is a great trick. With Josh, it was a no.

You just pick one up, put it in the gun, and play Russian Roulette. Any magician would have gone and said “that's a good trick.” Any rational person would have gone and said, “That's a trick. How did you do it?” But Josh being naive took it for real. So that was his second day. So for the next three weeks, I ****ed with him in ways that made that look like a kindergartener pick a card and get the wrong card. 

So, what I would do if there was no imminent danger and I wanted to **** with someone, I would always take one of the rounds out of the gun, pry off the bullet, fire the cap so that there's no gunpowder and there's no firing cap now, take another bullet, insert it back in the casing and put that back in the gun. I could always spot which bullet it was because there was an indentation where the firing pin had hit the primer. So, I could dump my bullets anywhere, but no one else would have noticed the indentation. Right? They're just noticing bullets flying everywhere. You just pick one up, put it in the gun, and play Russian Roulette. Any magician would have gone and said “that's a good trick.” Any rational person would have gone and said, “That's a trick. How did you do it?” But Josh being naive took it for real. So that was his second day. So for the next three weeks, I ****ed with him in ways that made that look like a kindergartener pick a card and get the wrong card.  

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After three weeks of that, Josh was literally traumatized. I don't feel bad about it because I hate organized media and the way that they select stories. There are trillions of stories to be told at any point in time. And who are our storytellers today? The media. The mass media are our storytellers, and there are trillions of stories that they could write about. What do they focus on? The things which are in their interest or in the interest of their sponsors or their controllers. Now I had Josh, who was being less naive. If you are naive, then why are you in the media at all? It's people like you who should not be here. So I felt justified. I waited two days before I decided, “All right, you're going to get your story, but you're going to get the story that I choose for you.”

I chose the story of John McAfee's insanity, and played that story for him for three weeks. That's what the movie is about, and that’s why it’s a comedy. But I have no control over it. I think that the screenwriters are great, but I don't know how they're going to do this. I've read the synopsis, which is about that three week period. That's the entire movie.

I chose the story of John McAfee's insanity, and played that story for him for three weeks. That's what the movie is about, and that’s why it’s a comedy.

U.Today: Why didn't you want Johnny Depp to play you in the film?

John McAfee: I don't think Johnny Depp has experience in life. Not in acting per say, but because even to me, I’m a mystery. Some people think I’m more of a mystery, while others think I’m insane. With today’s standards, I probably am, and I'll tell you what is sane today. Sane is buying all of the propaganda that the government and the media feed you while as your commuting to work for up to an hour each way, five days a week for 40 years in a job that you may not love. That’s considered sane because that's what everybody does. So, in that world, of course, there's nobody more insane than me. 

U.Today: Last question - What do you think the web will look like in 50 years from now?

John McAfee: The first thing that comes to my mind is “God, I would love to be here to see it, but I will not.” The second thought is that 20 years ago, I could not have predicted today, nor could anyone on this planet. I have no idea where you are, but that doesn't matter because we're talking face to face. I see your smiling face, your gestures, and your eyes blinking as if you’re here. Could you have imagined this 20 years ago? No, the technology did not exist, nor did the concepts other than in Star Trek movies. Now, they're here. So I would be the last person to ask given the history and the 74 years that I've experienced on this planet. The sky is open. 

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About the author

Rimma has already worked in crypto media for 5 years. She’s an Editor at U.Today. She also worked as a Head of Social Media at Cointelegraph before. Her greatest interest is focused on the influence of opinion leaders on the crypto community, the latest blockchain developments, crypto adoption, and how all of this affects our daily lives.

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