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Bitcoin Private (BTCP) to Replace Monero on the Deep Web, McAfee

Mr. McAffee recently claimed that Bitcoin Private (a Bitcoin fork) is going to be the new currency of choice in the dark web. In his view, the new Bitcoin fork has "some serious technology" behind it that must be taken very seriously.

October 13, 2018 4:07 PM

Bitcoin Private (BTCP) to Replace Monero on the Deep Web, McAfee

Mr. John McAfee has been a celebrity in the digital world for decades. The British-American computer programmer and entrepreneur is best known for founding the first anti-virus company and software in the world.

Always eccentric and controversial Mr. McAfee is now among the cryptocurrency champions and his reputation brings credibility to the whole industry and community.

Mr. McAffee recently claimed that Bitcoin Private (a Bitcoin fork) is going to be the new currency of choice in the dark web. The dark web is a subset of the Deep Web that’s harder to access but also much more private than standard web pages. In his view, the new Bitcoin fork has “some serious technology” behind it that must be taken very seriously.

The idiosyncratic cybersecurity celebrity is a well-known Bitcoin fat. He recently said in an interview that Bitcoin Private (BTCP) is his favorite Bitcoin fork and that the fork’s improvements make it a better alt-coin than Monero. In fact, he said BTCP’ improvements make “Bitcoin a superior Monero.”

McAffee’s declarations happened over an interview with the CWN YouTube channel. He was very vocal and optimistic about the fork because it gives “people with differences a way to exit, a way to separate.”

He went on declaring BTCP as his personal favorite Bitcoin fork and defended it from detractors that call it a scam. He supported the token by saying that “serious technology” is behind it and in improves Bitcoin by giving it what it has always needed (total anonymity, most probably).

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According to Mr. McAfee, Monero became the currency of choice in the dark web because of the privacy it affords to users. He thinks Bitcoin Private will replace Monero as the new currency of choice in that environment because the technology and the privacy it offers is even better.

The BTCP community interpreted the cybersecurity’s pioneer declarations as a bullish development. Others argued they had to get rid of their coins as things deteriorated. 

Mr. McAfee has promoted digital currencies in the past for money, which is a well-known fact. Just this year he was charging $105,000 for each promotional tweet.

Verge (XVG) benefited mainly from Mr. McAfee’s bullish declarations, even more than Monero and Zcash (ZEC) did in their own time.

In his CWN interview, Mr. Macaffee was implicitly disparaging towards XVG as it offers users the option not to transact privately. He claimed this feature adds “complexity and confusion.”

As I write this, BTCP’s price is at $22.24, and it’s decreased by 3.90% over the last day. Last time Mr. McAfee made such an aggressive endorsement of a cryptocurrency it was on behalf of XVG, and it increased its price by a hundred percent very quickly. So, we can look out for the same here soon too.

Mr. McAfee is reputably bullish on Bitcoin. Only last year he prognosticated that Bitcoin would reach a million per coin before the 2020’s end. 

He’s insisted on that forecast. And he could be right. A website that tracks his prediction says that Bitcoin’s current level is only 9.2% below what it should be for Mr. McAfee’s prediction to become true.

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