Jul 8, 2019 13:57 UTC
Jul 8, 2019 at 13:57 UTC
John McAfee Clashes With Peter Brandt Over Altcoins Comment
John McAfee, the eccentric crypto pundit and antivirus guru has recently has had a clash with veteran cryptocurrency trader, Peter Brandt, over the latter’s comment that some altcoins will soon fade into oblivion. McAfee, who has been a known proponent of some notable altcoins like Docademic, Apollo Monero, and some others said that Peter Brandt’s knowledge is from the “stone age”.
Brandt, in a tweet, likened altcoins with the dot.com bubble. This has also been his position on notable altcoins like Ripple’s XRP. Recently, in an interview, the crypto pundit foresaw that the majority of the altcoins would eventually die an untimely death. He said that the notable growth witnessed by altcoins, throughout 2017and 2018 will not play-out again. He is confident that 95 per cent of altcoins will die a natural death, after which BTC will “occupy 80% to 90%” of the total cryptocurrency market cap. However, he’s sure that some other altcoins will find a place in specialised niches.
McAfee responded to this by pointing out that even though Bitcoin is a store of value, every transaction gives the receiver of the fund the avenue to see what is left in the sender’s account, a flaw which is not inherent in a privacy coin. He said,
“PeterLBrandt says altcoins are done. His knowledge is Stone Age. Bitcoin will forever be a store of value, but each transaction allows both parties to see inside their wallets ever after. If banks did this you would scream. Privacy coins don’t have this flaw. Just one example.”
Replying to John McAfee on his comment, Peter said one per cent of altcoins will be genuine survivors while 99% will pretend.
“1% will be genuine survivors, 99% are pretenders”
Recently, McAfee predicted that some altcoins are likely to see high price increase that may be more than that of Bitcoin. The eccentric cryptocurrency pundit has been a firm campaigner for Bitcoin and notable altcoins. However, he has been a known critic of Bitcoin SV.6.