John McAfee Tweets to Sooth the Souls of Nervous Investors

Controversial investor and software guru took to Twitter this week to calm the jangling nerves of Bitcoin investors after a tumultuous week left the flagship cryptocurrency hovering above USD 4,000.

Investors may ask “why listen to John McAfee?” but they might just take a look at a recent study which revealed that the 73-year-old tech veteran was found to be the most influential figure in terms of trustworthiness when it comes to handing out trading advice. In second place, the study placed Ethereum founder Vitalik Buterin, followed by Litecoin creator Charlie Lee.

In his latest tweet, McAfee makes an analogy to the bear market and winter, arguing that a “glorious spring” is around the corner, attributing the current market disruption to confusion. He points out that investors are joining the market daily, regardless of current trends and blames the current market turmoil on institutions who took “absolutely unenforceable measures to allay their fears.”

Market forces will “burn out” in time, McAfee suggests and encourages the global cryptocurrency community to stick with cryptocurrencies in the long term, echoing the views of Blockstream’s CEO Bobby Lee, who suggested that Bitcoin could still threaten USD 3,000, but long-term, feels it will overtake gold:

“This bear market might last another 18+ months, until the next block reward halving. That’s a long time for everyone except true believers. Enough time to scare away all of the weak long positions.”

Lee certainly has an ally in venture capital partner Lou Kerner from CryptoOracle who sees gold eventually being surpassed by Bitcoin. He compared the current market instability to the early 2000 dot com burst but makes an analogy to strong coins such as Bitcoin and Ethereum and companies such as Amazon who survived the bubble and emerged to become giant players in today’s tech markets. Kerner calls Bitcoin “the greatest store of value ever created.”

As to the recent drop in values, Kerner argues that “crypto has been so weak because [for] most of it there is no underlying value outside of confidence.”


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Author: Harold Vandelay
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McAfee’s ‘Unhackable’ Bitcoin Wallet Allegedly Hacked

John McAfee’s Bitfi bitcoin wallet has allegedly been hacked after its creator issued a $250,000 hacking challenge. Bitfi, which has marketed the wallet as “unhackable,” alongside promoter John McAfee has not yet responded to a post from security research group OverSoftNL, where it claimed to have obtained root access.

LIONBIT

Accusations and Speculation

The tweet at the center of the furor was posted yesterday, Aug. 1 by Oversoft, and it read:

“Short update without going into too much detail about BitFi: We have root access, a patched firmware and can confirm the BitFi wallet still connect happily to the dashboard. There are NO checks in place to prevent that like claimed by BitFi.”

Bitfi did not immediately respond to the tweet but later appeared to make reference to it in a subsequent post at 8:18 PM.

https://twitter.com/Bitfi6/status/1024736244067172358

In a subsequent tweet on the same thread, Oversoft then accused Bitfi of using its $250,000 bounty as a marketing ploy, hinting that it would not hand over any information about security weaknesses just yet.

https://twitter.com/V_Epokhe/status/1024696420778033152

Bitfi Controversy

Much like its promoter, Bitfi has made a bit of a reputation as a bold, daring ,and sometimes brash self-promoter, repeatedly claiming that the hardware wallet is unhackable and even promising a cash bounty to anyone that could successfully hack it.

From $100,000, this bounty quickly went up to $250,000 as John McAfee ratcheted up the rhetoric in response to criticism from security researchers. For added measure, Bitfi then made sure to specify that the bounty was not intended to help it identify security vulnerabilities, maintaining that its claim of being “unhackable” was absolute.

A war of words then broke out between Bitfi and a series of security researchers who one after the other, picked holes in Bitfi’s claims. Notably, Ryan Castellicco was quoted as saying that Bifi is “a cheap stripped down Android phone” that he would “strongly advise against using.”

Another set of researchers then accused Bifi of harboring questionable apps on its device including Chinese search engine Baidu and the Adups malware, both of which they said regularly “called home.”

In response, Bitfi issued a comprehensive denial of these claims, accusing Oversoft of working for its competitors and reiterating its $250,000 bounty.

Yesterday however, Oversoft seemed to indicate that they have evidence to back up their claims, mentioning that the apps in question actually monitor and report on users, contrary to what Bitfi stated.

In the event that the Bitfi wallet has been hacked, it remains to be seen what that would mean for Bitfi and McAfee, both of whom had yet to respond as of press time.


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Author: David Hundeyin
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Billionaire Investor Steven Cohen Betting on Crypto

Steven Cohen, an American philanthropist and hedge fund manager, is investing in Autonomous Partners, a hedge fund focused on cryptocurrencies and blockchain technology, founded last year by long-time crypto advocate Arianna Simpson.
Simpson has confirmed the news on her Twitter.



The investment by Cohen was made through his private investment company Cohen Private Ventures.

According to Bloomberg, the new fund is looking to invest specifically in “cryptocurrencies that serve as general purpose money,” as well as companies working with blockchain technology to build “the next generation of financial infrastructure.”

In addition, Simpson explained that the fund has also invested in more established cryptocurrencies like bitcoin and ethereum.

Autonomous Partners launched in December and includes funding in the low eight digits from investors such as Coinbase CEO Brian Armstrong, Union Square Ventures, and Craft Ventures, according to Fortune.

Simpson has invested in, for example, 0x, a protocol allowing for the creation of decentralized exchanges, while Ripple, the California-based start-up that aims to help banks improve cross-border transactions by using blockchain technology, is not in the portfolio due to centralization concerns, according to Fortune.

Crypto-focused hedge funds saw a huge surge in popularity last year as the cryptocurrency market soared. However, the market sell-off during the first half of 2018 has forced many hedge funds to shut down, with some funds even underperforming bitcoin, which has seen a decline of nearly 70% since its top late last year.

Autonomous Research, an independent research provider on the financial sector, estimated in May that there are a total of 200 to 300 crypto-focused hedge funds operating with a combined USD 3 to USD 5 billion under management. 150 of those funds were reportedly created in 2017 alone.


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Author: Fredrik Vold
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BREAKING NEWS: Someone Just Tried To Kill John Mcafee

John Mcafee takes to Twitter after being hospitalised for 3 days, claiming his ‘enemies managed to spike something [he] ingested’


After falling unusually silent on Twitter over the last 3 days, many crypto fans were beginning to wonder where the King of Crypto had gone. In the last hour however, the unthinkable has occurred which has shocked the crypto community. The cybersecurity magnate returned to Twitter tell his followers that an attempt had been made on his life this week, leaving him in a critical condition in the Vidant Medical Center in North Carolina since Wednesday.

According to his post, it appears that ‘his’ enemies had poisoned something he had consumed which left John Mcafee unconscious for 2 days while Doctors desperately tried to save his life.

He posted a series of pictures showing him lying in a hospital bed with a warning to those that did this to him,

“I know exactly who you are”

Mcafee’s wife, Janice, has also taken to Twitter to direct a warning towards those that have injured the living legend.

 

But Who Would Do Such A Thing? 

John Mcafee has been engaged in a well-reported public feud with the United States Securities and Exchange Commission for the past 2 weeks, following comments made by the SEC Chairman, Jay Clayton, at their recent “Investing In America” discussion.

In these comments, John Mcafee posted the Chairman’s personal contact details with the general public over Twitter including an abusive comment demanding Chairman Clayton challenges Mcafee in a public debate.

He also reported earlier in the week that the SEC has sent him a series of ‘threats’ which have made him stop promoting ICOs and digital assets on his Twitter page.


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Author: Ollie Leech
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Bitfi and McAfee Announce First Truly Unhackable and Open Source Crypto Wallet

Bitfi Wallet assures impenetrable security with download-free and wifi-enabled operation, allowing users to participate in the digital asset economy without any risk of loss


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Bitfi (https://bitfi.com/), a global payments technology company working to enable businesses and consumers to participate in the digital currency economy, today announced Bitfi Wallet – the first unhackable, open source hardware wallet with an accompanying dashboard that features wireless setup and support for many popular cryptocurrencies and crypto assets, including Monero, a fully decentralized private cryptocurrency that has previously never had a hardware wallet solution.

Shortly after making a pre-launch introduction to a few insiders in the blockchain landscape, John McAfee, the preeminent expert on cyber security, acknowledged that Bitfi technology is indeed unhackable – a bold claim that has never before been uttered in the archives of tech history. Mr. McAfee has joined the Bitfi team as the company aims to accelerate adoption of decentralized assets by making interaction with these assets seamless and without risk. Bitfi technology is pivotal in advancing this goal.

“Of all today’s elaborate and sophisticated methods for making wallets secure and easy to use, surely none is as epic as that of the new Bitfi wallet. Several of my competitors have pioneered innovative methods to protect private keys, but Bitfi pulled out all the stops to ensure that the private key can never be obtained by illicit means. No other hardware wallet has ever been built to this level of sophistication,” said John McAfee, a foremost cyber security expert and founder of McAfee Antivirus.

The Bitfi Wallet offers more security than any other type of storage (including cold storage) without the need for technical skill, downloads or app installations to set up, requiring only a wireless connection. Once the wallet is set up, the device automatically receives the latest software updates thus completely eliminating any possibility for a user to download corrupt software or fall prey to phishing attacks. As Bitfi adds support for additional cryptocurrencies and crypto assets, they will automatically appear in the wallets of all users. In this way, a single purchase of the hardware wallet guarantees that wallet holders always have access to its latest technology and updates, making Bitfi Wallet a secure, long-term investment.

“The radically innovative Bitfi wallet, grew out of desperate need to find a completely secure and convenient storage solution so that we could drive rapid adoption of decentralized blockchain assets,” said Daniel Khesin, Co-Founder of Bitfi. “Intimately involved with the cryptocurrency revolution, we sought to develop the ultimate instrument that would be the last word for the problems of storing and interacting with cryptocurrency and other digital assets. Early prototypes so astonished various users (like John McAfee) who share our passion for cryptocurrency that, through simple word of mouth, many crypto enthusiasts were soon clamouring for a Bitfi wallet of their own. This demand led to our formation and the filing of numerous patents for over two dozen breakthrough features.”

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While most wallets store a 24-word memory key to access funds, the Bitfi Wallet allows wallet holders to store an unlimited amount of funds, without possibility of loss or theft, by utilizing a proprietary and open-source Bitfi algorithm that calculates the private key with a powerful on-board CPU from the user’s own unique secret phrase. The private key only exists for a fraction of a second, just long enough to approve the transaction and is never stored anywhere. The user- created phrase is impossible for others to guess but easy for the wallet holder to memorize.

Unlike other wallets, the Bitfi wallet cannot be tampered with. If it is ever lost, stolen, taken apart and forensically analysed, the private keys cannot be retrieved, making the wallet safe to purchase from anyone within the network of authorized distribution dealers.

Because the Bitfi algorithm is completely open source, users can easily obtain their private keys without any reliance on 3rd parties, including Bitfi itself. Furthermore, instead of having to access each currency from individual folders or multiple wallets, users can view and control all of their digital currencies and assets in one place via the Bitfi dashboard.

The Bitfi Wallet enables users to view all balances at a glance and quickly switch from one cryptocurrency to another, whether for personal or business use, much like using an ATM machine. Bitfi Wallet also features native support for Ethereum, allowing users to view both their Ethereum balance and access tokens in one place rather than using third-party services.

“The Bitfi Wallet is the result of experiments with the most advanced circuit topologies, components and materials derived from state-of-the-art theory and practice in many fields,” said Khesin. “It is the result of our strenuous commitment and single-minded dedication to advancing the universal adoption of the decentralized digital asset economy in everyday life, for everyone.”

The Bitfi Wallet will go on sale for $120 USD and purchase includes a one-year limited warranty. Units will be available for purchase starting June 25th, 2018 with shipments beginning June 27th, 2018.


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JOHN MCAFEE WILL FIGHT SEC ‘WITH EVERY LAST BREATH’

John McAfee, one of the most opinionated figures in the cryptocurrency community, has clashed with US Securities and Exchange Commission’s (SEC) chairman over the labeling of initial coin offering (ICO) tokens as securities. Speaking via his Twitter account, the tech activist and internet security expert vowed to fight the SEC’s pronouncement.


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MCAFEE ON THE WARPATH

John McAfee is usually not shy when expressing his views.

Ever since Securities and Exchange Commission (SEC) chairman Jay Clayton said that he considers most ICO tokens to be securities, McAfee has launched multiple tirades on social media.

Earlier in June, Clayton said in an interview that, except for digital currencies like Bitcoin, all other cryptocurrencies were securities. At an SEC public forum on June 14, Clayton reiterated the same position, stating:

Much of what I have seen in the ICO or token or ICO space, is a security offering. I don’t know how much [clearer] I can be about it.

According to McAfee, such a characterization is an “absurd overreach” — one he aims to fight with “every last breath.”

It is unclear, however, how the ex-internet security magnate hopes to prosecute his campaign against the SEC. Most of his Twitter rants on the matter have centered on public debates with the SEC, throwing the gauntlet down to Clayton.

Still, despite his vociferous opposition to the SEC chairman’s pronouncement, McAfee says, for now, he is “submitting to the law.”

ARE ICO’S SECURITIES?

In the still-developing cryptocurrency narrative, there are quite a few areas where there remains no consensus among stakeholders. One such area is whether or not ICOs should be regarded as securities.

This particular argument stems from the inability to precisely define what cryptocurrency tokens are. According to the SEC, tokens like Bitcoin — digital currencies that are substituted for fiat — are not securities.

The majority of the over 1,600 cryptocurrencies, however, are not fiat substitutes. They are tokens that provide access to a digital platform. Hence, many crypto-purists elect to call them utility tokens. However, the SEC disagrees — instead claiming that these tokens raise capital via a public sale and can be sold on a secondary market, thus classifying them as securities.

In a recent development, a top SEC official declared that ether is not a security. There is still no official word on the status of Ripple (XRP).


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Author: OSATO AVAN-NOMAYO
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John McAfee to release crypto-backed fiat “McAfee Coin”?

John McAfee announced earlier today on his Twitter account that he would be launching a currency known as “McAfee Coin”. The currency in question is said to be a fiat currency backed by cryptocurrencies.


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The tweet in question was a response to SmartPayMINT, which is an online shop to buy Ledger wallets and other crypto-related products.

John McAfee was in the news last week after his Declaration of Currency Independence was seen as a landmark act in the history of cryptocurrency. It is only natural that he would seek to disrupt traditional fiat norms, by releasing a currency backed by crypto.

The currency in question is a collectible fiat currency whose value is backed up by its value in cryptocurrencies. It is indeed the “reverse of what banks are attempting.”

In an earlier interview with AMBCrypto, McAfee stated that certain unaccountable individuals and organizations were corrupted to the point to where he saw them as gangrene. He believed that the revolution spearheaded by the appearance of cryptos was forthcoming.


His fans on Twitter reacted to the announcement, with user Income Sharks saying:
“A nice mix between Crypto and Fiat. Will be interesting how you distribute the coin if true.”

McAfee replied to this, saying:
“You will love it.”

User J.F. Carpio was bullish on the currency, saying:
“this is how the gold standard will return, also. I’m calling it.”

User Tanke said:
“Come to Spain, you can enjoy. I need to change your fiat currencies backed by cryptos!! Which crypto? New crypto? Btc? Eres un crack!!!”



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John McAfee predicting huge surge in cryptocurrency prices!

 

In spite of falling cryptocurrency prices, John McAfee, for one, is convinced there’s a boost in the near future…


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After another day where cryptocurrency prices took a hammering (with Bitcoin falling below $8000), John McAfee has sided with the people predicting another rally is just around the corner.

As per Tweets from his Twitter account on Monday, McAfee – who made his money originally, of course, through security software – argued that changes are afoot in the cryptocurrency sector. Ones that’ll have a positive impact on prices.

John McAfee

@officialmcafee

“”Institutional investors are preparing to enter the cryptocurrency market with a vengeance. They are generally long term investors and will be pumping billions into the market. Expect the top ten coins to go through the roof fairly quickly. The bulk of alt coins will soon follow.””


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Author: Maxpositives
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