McAfee - How will you EAT your own D*CK? (Blockchain Cruise)

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Description

On the Coinsbank Blockchain Cruise I cornered John McAfee to ask about his notorious price prediction that Bitcoin will hit $1M by 2020 or he will eat his own D*CK. Now that his prediction is not goin...

On the Coinsbank Blockchain Cruise I cornered John McAfee to ask about his notorious price prediction that Bitcoin will hit $1M by 2020 or he will eat his own D*CK. Now that his prediction is not going so well, we circle back to John and ask him how he plans to eat his baby maker if Bitcoin doesn't reach its goal. #Mcafee #Bitcoin #Exchange 👍🏻Subscribe to Boxmining for Daily CryptoNews and Altcoin explainers: https://www.youtube.com/c/boxmining 👑Recommended Exchange - Binance: https://goo.gl/joe55C 🔒Hardware Wallet: https://www.ledgerwallet.com/r/428b 📲Mobile Wallet: https://enjinwallet.io/ Brave Browser: https://brave.com/box831 #Bitcoin #Ethereum #Cryptocurrency #Crypto #Altcoins ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● Telegram groups: Telegram Discussion Group: https://t.me/boxminingChannel Telegram Announcements: https://t.me/boxminingChannel ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● ♨️Social: Steemit: https://steemit.com/@boxmining Twitter: https://twitter.com/boxmining Facebook: https://www.facebook.com/boxmining ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● I'm not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video. ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●

AI Analysis

This video features a candid interview with John McAfee, touching on his infamous Bitcoin price prediction, the future of cryptocurrency, and his strong views on decentralization and regulation. It provides a fascinating glimpse into McAfee's libertarian philosophy regarding technology, truth, and personal responsibility in the evolving digital landscape.

Here's a breakdown of the key points:

* The Infamous Bitcoin Price Prediction: The interview kicks off immediately by addressing McAfee's bold prediction that Bitcoin would hit $1 million by 2020, or he'd "eat his own dick." When pressed on how he'd fulfill this promise if Bitcoin falls short, he comically states he wouldn't cook it, preferring it raw. He then jokes about subcontracting the task to a "Bangkok prostitute" for a "precision" job over "a period of years," emphasizing the need for a professional. He also dismisses the idea of a Twitter follower eating it, citing lack of professionalism and the absence of Bangkok prostitutes on Twitter.
* The Future of Crypto (3-5 Years): While he can't predict 20-30 years out due to his age, McAfee is very optimistic for the next 3-5 years. He highlights two main drivers for crypto's growth:
Adoption: Even as Bitcoin's price fluctuates, its use* and the number of people and businesses accepting it are "skyrocketing."
* Distributed Exchanges (DEXs): He believes these are "just around the corner" and will fundamentally change the crypto landscape.
* Distributed Exchanges (DEXs) Explained: McAfee explains that DEXs mean there will be no central point of control. If an exchange is distributed across millions of wallets on smartphones, laptops, and other devices globally, it becomes "impossible" for any government, financial institution, or police force to shut it down. Your smartphone alone is a powerful computer, and when combined with millions of others, this "massive computing power" can process transactions in a way that is impervious to shutdown. He believes all centralized exchanges will disappear within five years due to this shift.
* Fighting Regulation: The Permissionless Society: McAfee vehemently opposes regulation in the crypto space. He argues that crypto is about creating a "permissionless society," where individuals don't need permission from banks or governments to send money, unlike traditional wire transfers. He sees the blockchain as an "absolute record of truth" that, combined with human self-interest, is all that's needed.
* The Corruption of Centralized Exchanges (CEXs): He strongly criticizes centralized exchanges, labeling most of them as "corrupt." He specifically singles out HitBTC as the "most corrupt," citing numerous complaints about frozen funds. He attributes their corruption to their anonymity – people don't know where they are, who owns them, or who works there, making them feel untouchable. Without accountability, it's easy for them to "take something."
* Truth Over Force: The Blockchain as Arbiter: McAfee argues that regulation, which is based on "force" (police, arrests), is unnecessary and harmful when "truth" is available. The blockchain, as an "arbiter of truth," shows exactly what happened in a transaction. If an exchange is proven to be stealing funds via blockchain records, common sense and self-interest will lead users to stop using it. He believes that if everyone knows the truth, corrupt entities will naturally "disappear" because "your only customers are fools and insane people." He asserts that "truth and regulation cannot coexist."
* The Evolution of ICOs: From Offerings to Loans: McAfee predicts that the current structure of Initial Coin Offerings (ICOs) will "disappear." However, the concept of new projects creating new coins will never die. He envisions ICOs being replaced by "Initial Loan Procurements" (ILPs). Instead of exchanging money for coins as assets, projects would take "loans" from investors, offering tokens and promising repayment over time.
* Circumventing the SEC: The reason for the shift to ILPs, according to McAfee, is to bypass the U.S. Securities and Exchange Commission (SEC). He believes the SEC is "fucking everything up by overreaching their bounds" by classifying ICOs as stocks. By structuring offerings as loans, they fall outside the SEC's jurisdiction regarding assets and ownership, thus preventing the "killing" of innovation.
* Personal Responsibility and "Darwinism" in Crypto: McAfee has a very blunt view on people falling victim to scams, whether it's fake Bitcoin giveaways or dubious ICOs. He believes that if someone is gullible enough to think a stranger will give them a million dollars of Bitcoin or invest in a "time machine" project, "there's no help for you." He dismisses the idea of legislation protecting people from themselves, suggesting such individuals should "fall victim to Darwinism." He emphasizes that "life is neither fair nor just nor safe" and that adults should not expect to be protected from their own poor decisions. This highlights his strong belief in individual autonomy and accountability in the new digital world.

Transcript

Cool. So we have, you started out some controversy saying of course the 1 million dollar Bitcoin by 2020 or else you're gonna eat your dick. Right. Alright, so hypothetically if it doesn't reach a million by 2020, how would you cook your dick? So hey guys, my next guest needs no introduction is the one and only John McAfee. So we're gonna ask some fun questions, some serious questions and hopefully we'll have a good time. So John? I have not had a serious question all day so I'd be happy to hav...

Cool. So we have, you started out some controversy saying of course the 1 million dollar Bitcoin by 2020 or else you're gonna eat your dick. Right. Alright, so hypothetically if it doesn't reach a million by 2020, how would you cook your dick? So hey guys, my next guest needs no introduction is the one and only John McAfee. So we're gonna ask some fun questions, some serious questions and hopefully we'll have a good time. So John? I have not had a serious question all day so I'd be happy to have one. Alright, so in seriousness wise, where do you think crypto is gonna go in the next 20, 30 years? I heard you're super excited for long term. Well that's way too long term, I won't even be around in 20 years. So no one can predict 20 or 30 years ahead. You can predict 3, 4 or 5. 3, 4 or 5. 3, 4 or 5. Okay, two things are gonna drive crypto. Number one, adoption. While Bitcoin has been tanking in value and price, it has been climbing in use. The number of users, the number of people who accept Bitcoin is skyrocketing. Number two, and this is vastly more important, distributed exchanges are just around the corner. What does that mean? It means that once we no longer have central exchanges, and they will all disappear eventually, within 5 years they will be gone. Nothing can shut us down. It is the absolute end of the war. Governments can't shut us down, financial institutions, banks, nothing. Because I don't care how much power you have as a government, how many police, how many soldiers, whatever. If the exchange is distributed across 20 million wallets on smartphones and laptops and pads, then what do you do? It is impossible. You'd have to shut down all 20 million of them scattered around the world. You don't know where they are. They don't broadcast their location. They don't broadcast the owners. You can technically put it on a satellite, you know? Pardon? You can put it on a satellite technically. You can have distributed exchanges and have that everywhere. Yeah, whatever. But it makes no difference if you've got that many users, and you're using the combined computing power, because your smartphone is a computer vastly more powerful than the world's first large computer that IBM built. So you've got this massive computing power, and it is distributing the processing across millions or tens of thousands of wallets, then you cannot ever shut that down. And one of the talks I heard about, so we're talking about, you know, the distributed exchange, but beyond that it's about regulation, right? So you had a talk where you said we're all kind of fugitives here. Do you feel like that's the way to go forward, to fight regulation? We have to fight regulation. Let me tell you why. What are we doing? We are creating a permissionless society. Because what is crypto? Do you need permission to send me money? Maybe your mom? No, of course not. Do you need permission if you use the regulation? Yes! You've got to get permission from your bank, through wire funds. You've got to get permission from the government. If I live in America and want to send funds to Lebanon, the government will say, Nope, you may not do that. You do not have permission to do that. The blockchain, which is an absolute record of truth, and the permissionless quality of transactions, and our own brains, which serve our own self-interest, if we're sane, is all we need. Now, let me give you an example. The centralized exchanges, most of them are corrupt. Why? We don't know where they are. Hit BTC, the most corrupt yet. You really hate that exchange, don't you? Because we get most of the complaints about it. We have more, ten times more, about Hit BTC than we do about the next. Same here, like it's just like people just, like their funds just get frozen. Right. Well, why? Number one, you don't know where they are. We don't even know what country they're in. They could be on the moon for all we know. We don't know who owns it. We don't know who works there. We know nothing about them, and yet they process hundreds of millions of our dollars every day. Good God, if you ran that company, I don't care how good you were, you would finally go, you know what, I think I'll just take something. This goes, not going to matter. You can't stop me. So, of course, they become corrupt. So, in your fight, you never find... No, let me finish here, because you ask a very important question. All right. A very important question. So now, if we had regulation, is that going to help? But no. We don't know who they are. All the police in the world are not going to help. We don't know where they are. So, what does help? Truth, the blockchain, and self-interest. The blockchain is what? A record of actuality, of what actually happened, of truth. With the blockchain, for example, we get hundreds of complaints of going, they stole my money. How do we know? Here's my ether scan. Here's where I sent them the money. This is what they did with it, and I got nothing back. And you go, okay, you're right. They stole your money. So, we have truth. How do we shut them down? We don't need police. We don't need regulations. We need common sense. If we all know the truth. If you send your money to hit BTC, you have a 50-50 chance that you're only going to get half of it back. Then, only an idiot would do that. Or a person who is not sane. So, with truth. If we all see the truth, we all do the same thing. Do we not? They're going to steal our money. I have self-interest. I've got a brain. No, I'm not getting any more money. They will disappear. You cannot exist long where your only customers are fools and insane people. You will disappear. So, we don't need the police to shut them down. We don't need anyone to punish them because the loss of their business will be punishment. So, we're in a new world. We don't want regulation. Regulation is based on something called force. Because how do you enforce the law? Through force. The police come and break down your door, arrest you and take you to jail. No. That's nonsense. We don't need that if we have truth. We've never had truth before. Never. The blockchain is the first technology that says, I am the arbiter of truth. We've never before. We've had what? CNN, they tell their truth. Fox News tells theirs. Russia tells theirs. China tells theirs. America tells theirs. America tells theirs. The man on the street tells something else. We don't know. Now, we do. Please understand that truth and regulation cannot coexist. That's an amazing answer. So, with all this fighting against regulation, you've done some craziest things in your life. What's the craziest thing you've ever done? Craziest thing I've ever done? Getting married five times. That's okay. Cool. All right. What can I say? Cool. So, we have, you started out some controversy saying, of course, the $1 million Bitcoin by 2020 or else you're going to eat your dick. Right. So, hypothetically, if it doesn't reach a million by 2020, how would you cook your dick? I wouldn't cook it. I think I'd eat it raw. But I would subcontract it. I would subcontract it probably to a Bangkok prostitute. And I would require that it be done with precision over a period of years. Over a period of years? Over a period of years, of course. I mean, if you're going to eat your dick and you're subcontracting it, you want it done properly. All right. So, I get the prostitute. We'd explain things. And over the next 10 years, you may eat my dicks full time. So, all right. Okay. All right. So, on the topic again, would you, because we have lots of Twitter followers following this, would you ever get one of them to eat your dick if they really wanted to? No. Absolutely not. They wouldn't know what to do. And there are no Bangkok prostitutes on Twitter. So. All right. Okay. If I want to subcontract the eating of my dick, I want a professional to do it. Amazing. Okay. So, back onto the Twitter topic again. So, in terms of the projects that you see, there's definitely a lot of projects. Do you see the kind of ICO space dying out? Do you see the end of like… Well, when you say the ICO space, if you're talking about new projects coming to fruition that create new coins, no, that will never die out. If you're talking about ICOs as initial coin offerings in the structure that they currently exist in, no, that will disappear. However, it will be replaced by something else. It will be replaced by possibly the initial, what's called the ILP, the initial loan procurement, which is exactly the same thing. Only instead of taking money in exchange for coins, you take loans. Okay? Listen. Loan me $10,000. I'll give you X number of tokens and we'll pay you back over a period of 10 years. So, why do you think that's better? Why would you think a loan offering would be better? Because the SEC can't control it. It has nothing to do with assets. It has nothing to do with ownership. It has to do with loans. And it is the Security and Exchange Commission in America, which is fucking everything up by overreaching their bounds and going, okay, ICOs are just like stocks. Therefore, you fall under our command. Well, that kills everything. But don't you see that there's a lot of people who are irrational in a space following victim to ICO scams out there? Of course. But people fall victim. Listen. Forget the ICOs. Because more people fall victim to the fake John McAvees giving you Bitcoins. Now, what idiot thinks that anybody is going to give a stranger a million dollars of Bitcoin or anything? Please, God, that does not happen. If you're falling victim to that, there's no help for you. There is no legislation that can protect you from yourself. Please, God, disappear from the DNA chain. You know, fall victim to Darwinism. I don't know. But we can't help that. And people, the same thing with ICOs. Listen. We've been with the system has been around long enough that if you say, oh, yes, you're building a time machine. Wonderful. It's got to be big because then we can go back in time and fix ourselves. No. No more money in it. If you invest in that, I am sorry. I can't help you. You can't. Nobody can help you. Okay. That's a good way to put it. I mean, it's like self-starwinism. It is dark. I'm sorry, but it is dark. Life is neither fair nor just nor safe. And if you believe that you are safe in this world and that you may do as you wish and somebody is going to protect you, that's fine as long as you're three years old. But when you hit 21, I'm sorry, nobody's going to protect your ass. That's a great way to put it. I think definitely a lot of people over assume the safety in the world and let's hope that stops with this new world that we're going to go into. So thank you, John, so much for having this interview. I mean, you've been busy today and I hope you have a great evening. Thank you very much. Cheers. All right.