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Exclusive: “I care little about stock and fiat markets” – John McAfee

Anirudh VK

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Exclusive: "I care little about stock and fiat markets." - John McAfee
Source: Unsplash

In an exclusive interview with AMBCrypto, John McAfee spoke about the crypto market and his algorithms. He also spoke about marketplaces and the function of human psychology in them.

When asked about whether psychology still played a role in markets after the proliferation of algorithms and software in trading, he called them “purely mathematical, data scraping machines”. He went on to say that the major human component in markets is manipulation, stating that the ‘psychology’ in markets is nothing but a “series of paired transactions”. He said:

“There is no overriding psychology that is not manipulation.”

He made predictions for the future of the cryptocurrency market, saying technologies like pure distributed exchanges based on atomic swap will emerge. He also said:

“I care little about stock and fiat markets. They are disappearing.”

The vulnerability of crypto markets to manipulative presences is reducing day by day, according to McAfee. When the technologies mentioned before are adopted, we will see a “collection of localized factors” that will work in global harmony.

When asked if there is a possibility of the market crashing yet again, he made it clear that the market has not crashed, except in the eyes of short-term investors. He went on to say:

“…short-term traders, who, in my opinion, are the scourge on progress and the fundamental cause of mediocrity in trading.”

He said that the ‘legal’ way to make money through trading is by taking a long position, advocating for the medium long-term perspective of 18 months. He said that cryptocurrency has never failed to hugely advance when looked at in this time frame.



His predictions are famous throughout the crypto-verse, not only in terms of various altcoins but also on significant political occurrings. Recently, his prediction for the altcoin Docademic is close to coming true, with a 481% growth in a week’s time. When asked about them, he simply said:

“I made them because they will happen. Absolutely. They always do.”

When asked about the possibility of a massive bull run and its potential triggers, he said:

“I know little of triggers. I only know mathematics. I know a Sunflower will display, mathematically, its seeds in a beautiful spiral pattern. Is the trigger the tilling of the soil? The planting of the seed? The watering? The fertilizer? The spreading of the petals? Who knows? We only know that all of life is mathematics and, if a time slice is provided, the entire universe, at that slice, can be known.”





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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

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Altcoins

FLiK case: Utility tokens take another hit in case allegedly involving Rapper TI, claims prominent lawyer

Priya

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Source: Unsplash

Stephen Palley, a prominent lawyer at Anderson Kill, spoke out about the FLiK token case via his official Twitter handle. Notably, unlike most tokens in the space, FLiK made headlines because of its celebrity backing.

Towards the end of last year, it was reported that the US Rapper Clifford Joseph Harris Jr., who goes by the stage name T.I. and T.I.P., was sued for $5 million over the alleged failure of the token promoted by him and his partner, Ray Felton. The rapper was being sued by a group of 25 individuals who claimed that that they invested around $1.3 million in the tokens.

Additionally, there were allegations that the rapper used the raised money to increase the token’s value, following which the duo sold their holdings after the coin crashed. Other well-renowned celebrities such as Kevin Hart and Mark Cuban were also reportedly associated with this project.

On the recent developments surrounding the case, Stephen Palley stated,



“Utility tokens” take another hit in case allegedly involving rapper TI. Court says FLiK ICO tokens = securities under Howey Test, for motion to dismiss purposes. That they offered some functionality ≠ relevant given buyers’ expect of profits solely from efforts of others. 1/4″

Source: Twitter

Source: Twitter

Source: Twitter
The lawyer further stated that,”use of funds” was already determined by the defendants, “per the FLiK token whitepaper.” He went on to state that there was a time problem, adding that Federal Law rules that “unregistered sale” of security tokens were supposed to be reported within 12 months after the violation.

The lawyer concluded by tweeting,

“ps — form was never going to be exalted over substance, so none of this is a huge surprise. Also, this is a ruling on Rule 12(b)(6) motion to dismiss so the Court takes the allegations as true for purposes of ruling. The merits still have to be litigated.”





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