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John McAfee Turns His Back on Bitcoin, Refuses to Eat His Words if BTC Price Doesn't Reach $1 Mln

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Sun, 01/05/2020 - 16:09
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  • John McAfee is walking back on his most important promise that has kept the cryptocurrency community entertained for more than two years

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John McAfee has just backpedaled on one of the wildest wagers in the history of crypto. In his recent tweet, the cybersecurity tycoon makes it clear that his promise to eat his penis if the Bitcoin price doesn't go to $1 mln by Dec. 31, 2020, was simply a "ruse" that was meant to attract new users. 

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A short story 

Back in July 2017, less than six months before Bitcoin became the biggest topic worldwide, McAfee took to Twitter to make an unprecedented claim that he would eat his penis on national television if Bitcoin failed to reach $500,000. Five months later, he upped the ante with the now-famous $1 mln price target.

Throughout these years, McAfee continued to stand by his prediction. As reported by U.Today, he still insisted that BTC could end up in the seven-digit reality as of Dec. 13, 2019. At the time of writing, BTC is trading at $7,462, which means that its price would have to increase by 13,286 percent in twelve months for McAfee's body to remain safe.         

His prediction became so popular that there is even the "Dickening" countdown till Dec. 31, 2020 (it is called after the reward "halvening" that will take place in May). However, now that McAfee claims that it was nothing but a ruse, this site might no longer be relevant.  

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Bitcoin and the Model T 

Moreover, the eccentric septuagenarian has apparently had a change of heart about Bitcoin since he's now certain that the top cryptocurrency has "an ancient technology," and newer blockchains with privacy and smart contracts will effectively replace it. McAfee compared Bitcoin to the Ford Model Twhich is generally considered to be the very first affordable car. 

While McAfee himself did not mention any specific names in his tell-all tweet, the thread got instantly swarmed with people who wanted to pitch their favorite cryptocurrencies — from some top altcoins to obscure projects. 

A bit later, he named privacy-focused coin Monero as the new clear winner. The cryptocurrency, which offers its users complete anonymity, is widely known for cryptojacking. However, Monero and other privacy coins are in danger of getting delisted from exchanges due to regulatory pressure. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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  • It is the first day of the month and Ripple has released one billion XRP from its escrow wallet. The community traditionally expects a price drop after such massive dumps

Cover image via stock.adobe.com

It is the first day of another month – this means that Ripple has lavishly thrown XRP from its escrow wallet – one billion coins. Since the start of 2020, this monthly dragon-sized amount was withdrawn in two portions of 500 mln XRP each.

XRP escrow
Image via Twitter

While the XRP price is in the green zone, trading at $0.173095 on CoinMarketCap, the comments under the tweets about the XRP release signify that the community is either indifferent (having got used to these releases already) or is expecting another price drop in the short term.

In January 2018, XRP, the third-largest cryptocurrency, reached an all-time high of nearly $3. Since then, XRP has been light years away from the ATH.

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Many skeptics say that the XRP price is not going to rise even in the long term, mocking those who remain faithful, holding bags of the coin.

As earlier reported by U.Today, many in the community believe that regular XRP releases made by Ripple prevent the price from rising and reaching at least $1. In 2019, a petition was set up on Change.org by crypto influencer ‘Crypto_Bitlord’ who wanted Ripple to stop dumping XRP.

Curiously, later on, another petition appeared on the same platform, requesting Ripple to accelerate the release of XRP in order to increase the coin’s adoption, which would assumingly lead to a massive price surge.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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