Why it is Past Time for John McAfee to Stop Making Predictions

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John McAfee is an interesting character... to say the very least. The Ted Nugent of technology has always had a penchant for the outlandish and sometimes the downright bizarre. Initially famous for creating the now-defunct McAfee antivirus software, McAfee now spends his time making predictions in cryptocurrency. Not to doubt the man's genius (he is a MENSA member after all) but McAfee's investment career has been unsuccessful, to say the least. It is hard to forget that his investment holdings in the stock market went from 100 million dollars to 4 million according to the New York Times in 2009. Though this can be blamed on the financial crisis of the time it is pretty amazing he just let it happen.


Anyway, poor stock market decisions and possible murders aside, there is a clear trait McAfee displays on a regular basis. That is his need for attention, and whether he is pumping coins or showing off his arsenal he gets it. Currently, he is getting the most attention for taking to Twitter (NYSE: TWTR) and making cryptocurrency price predictions. No one could forget his July 2017 prediction of 500k USD for Bitcoin (BTC) within 3 years, and the threat of eating his own d*ck on national television if it didn't come to fruition. Obviously, this set off a lightbulb in his head and he kept making predictions, and people kept listening to them.

In between yoga positions, tweets are let loose. The latest predictions put Golem Network Token (GNT) at a 3 dollar price target and EOS (EOS) at 30 dollars by mid-July. These "seldom" short-term predictions are becoming the norm for McAfee and there is a simple reason for it. He calls it the "McAfee effect", I call it paid pumping. On may 27th, he tweeted, "People claim that I am being paid by BTCP and others for promotion. Please: I make money from corporations and foundations, not from the people themselves! And I charge corporations a fortune. I have never asked the people - the users - for a dime. Cut me some f*cking slack." Which is basically a roundabout way of saying yes, they do pay me for promotion and I make a lot of money from it. In these situations, where someone is paid for an opinion, credibility is completely lost, for obvious reasons.

What? You don't believe McAfee, the libertarian bastion of morality, would take money to promote coins he doesn't really care about? Believe what you want, but here is his website advertising and offering these services. The price tag is about 105,000 USD per promotional Tweet. Considering all this, we can find the real value of McAffee's opinion. That would be 0 USD, his opinion is worth zilch, nada, nothing. You could pay him to say anything about any coin as long as the price is right and this is extremely toxic to the market. Not that I'm a crypto bear by any means but paid pumping does no one any favors. It just makes investors suspicious of any prediction or promotion from McAffee and raises questions about who else is paid to promote coins (without disclosing it until pressure mounts).

Setting aside the consistent inaccuracies of McAfee's predictions all he is doing is serving to undermine trust, not that he was trustworthy to begin with really, but people put their faith in him due to perceptions of him being a savvy investor (he isn't) and being extremely wealthy (he isn't), so maybe it's time he just stops before he damages the market any further.

That would be ideal for me but I doubt it will happen, as McAfee states in a tweet "It's self-aggrandizing and ego-stroking for us. However, if you're planning an ICO, trying to boost a coin, or want to shine a light on your latest project, you should overlook our swollen egos and see." And so he continues to shill to his poor Twitter (NASDAQ:TWTR) followers, whom he points to as "investors", (AKA suckers), as part of his sales pitch. 

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Comments (23)

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  • knifedag
  • ,  Contributor
  • 05 June 2018, 12:06 pm

This is much less about his perceived accuracy/inaccuracy and more about how his \"predictions\" are basically advertisements.

   0   Reply (0)   Follow(437)  

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    • John R
    • ,  Contributor
    • 01 June 2018, 05:06 pm

    You know his twitter account was hacked using SIM Swapping

       0   Reply (1)   Follow(437)  

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      wow! now that is a dose of irony.

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        • 3Kings
        • ,  Contributor
        • 01 June 2018, 05:06 pm

        He now predicts Bitcoin at $1 million by the end of 2020. and if wrong he says he will eat his d*ck if wrong. Can\'t wait to watch that, because it won\'t be at $1 million. He must be high.

           0   Reply (0)   Follow(437)  

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          • Sammy
          • ,  Contributor
          • 01 June 2018, 05:06 pm

          He said Verge would double in price and it went up fifteen thousand percent.

             0   Reply (2)   Follow(437)  

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            What about the FINA coin?

               0  

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              One of the founders of the FINA coin he promoted was a member of a Nigerian criminal organization. Imagine that

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                Should hear it from him, nobody’s reading those white papers.

                   0   Reply (0)   Follow(437)  

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                  he does have 700,000 followers on Twitter

                     0   Reply (0)   Follow(437)  

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                    McAfee got it wrong was with Cryptosecure\n\n

                       0   Reply (0)   Follow(437)  

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                      • John R
                      • ,  Contributor
                      • 01 June 2018, 05:06 pm

                      Wonder if that\'s the gun he used to murder his neighbor over barking dogs?

                         0   Reply (1)   Follow(437)  

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                        LOL

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                          Although he claims near-accuracy, some of his predictions have failed. But he has been right more than he has been wrong. \n\n

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                            Yes, but once he makes a prediction after getting paid $105,000, its is almost like a pump and dump

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                              he researches the coins to promote,

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                                • Scott
                                • ,  Contributor
                                • 01 June 2018, 05:06 pm

                                The price of Docademic doubled since his prediction\\n\\n\n

                                   0   Reply (0)   Follow(437)  

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                                  In between yoga positions, tweets are let loose. LOL

                                     0   Reply (0)   Follow(437)  

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                                    • Scott
                                    • ,  Contributor
                                    • 01 June 2018, 04:06 pm

                                    McAfee is the unofficial fortune teller of the crypto market.\n\n

                                       0   Reply (0)   Follow(437)  

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                                      • Jesse
                                      • ,  Contributor
                                      • 01 June 2018, 04:06 pm

                                      Didn\'t he commit a murder on an island?

                                         0   Reply (1)   Follow(437)  

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                                        • Scott
                                        • ,User
                                        • 01 June 2018, 04:06 pm

                                        It would only take a competent belizian police force and he would be in Prison.

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                                          • DoubleD
                                          • ,  Contributor
                                          • 01 June 2018, 04:06 pm

                                          If you traded on his GNT call you’d have made almost 50%.

                                             0   Reply (0)   Follow(437)  

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                                            • John R
                                            • ,  Contributor
                                            • 01 June 2018, 04:06 pm

                                            he can do whatever he wants, people just need to stop listening to him

                                               0   Reply (0)   Follow(437)  

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                                              $105,000 to send out a tweet- that\'s a good gig.

                                                 0   Reply (0)   Follow(437)  

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