John McAfee Claims Bitcoin Private Will Eventually Replace Monero

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The cryptocurrency world is home to many charismatic individuals. A lot of people value those individuals’ opinions more than anything else. John McAfee is quickly making a name for himself in the cryptocurrency industry. One of his most recent comments will irk a lot of people, though. Calling Bitcoin Private superior to Monero is a very interesting opinion.

McAfee Favors Bitcoin Private

No one will deny there have been many hard forks of Bitcoin in the past few months. All of these forks attempt to do something different at this stage, but it has become apparent most of these new creations are lacking in one key aspect. More specifically, there are virtually no Bitcoin forks focusing on the features people have been asking for.

The main feature Bitcoin lacks at this stage is privacy. Although it offers pseudonymity, there is no privacy to speak of. That is, unless users decide to rely on third-party services such as coin mixers and instant exchanges to convert to and from altcoins. By default, Bitcoin has no privacy or anonymity features, nor will it have such traits anytime soon. Developers are working on potentially implementing such tools, but it is not a big priority at this stage.

John McAfee is a very bullish individual when it comes to specific cryptocurrencies. Despite Bitcoin’s apparent flaws, he expects the world’s leading cryptocurrency to hit a value of $500,000 pretty soon. He is also keeping close tabs on all of the Bitcoin hard forks to determine if any of them have any long-term potential. So far, he hasn’t jumped on board the Bitcoin Cash, Bitcoin Gold, or Bitcore bandwagons just yet.

Instead, McAfee does what he is best known for: throwing a curveball. In a recent interview, he stated that Bitcoin Private is the “best hard fork of Bitcoin” to date. That is a very peculiar statement, as very few use cases for BTCP exist at this time. Then again, cryptocurrency speculation has nothing to do with use cases, but rather with hyping up projects.

That is not all, though. In the same interview, McAfee said he is confident Bitcoin Private has the potential to ultimately replace Monero. That’s a very peculiar statement, considering that Monero and Bitcoin Private are nothing alike. They both provide privacy, but Monero is mainly focused on anonymity through proper technology. It is a bit unclear how Bitcoin Private plans to handle that aspect in the future.

This comment by John McAfee will undoubtedly trigger another major Bitcoin Private price pump. It won’t be the first, as this particular altcoin has seen its value fluctuate quite often. Major gains lead to heavy losses until the cycle repeats itself. Until there is any real use case for Bitcoin Private, it will have no advantage over Monero whatsoever.




via The Merkle https://themerkle.com
May 15, 2018 at 08:06AM

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