Wanna know why the most successful “crypto” founder of all time is “John McAfee”?
John McAfee tributes, El Salvador’s bold plans, altcoin fears: The computer security legend and ex-Hollywood actor, who allegedly ran from the FBI, has finally returned to the spotlight. McAfee’s new venture, a crypto company dubbed McAfee Coin, is about to start listing its tokens on the market. McAfee Coin has been in the works for a while now, but it wasn’t until he returned to his home country of Belize that the project received funding from a major investment firm. But that’s not the only big news for the eccentric millionaire. McAfee has also been busy in the El Salvador government, where he grudgingly accepted a position as Minister of the InteriorEvery Saturday, the Hodler Digest helps you stay on top of all the important news of the week. The best (and worst) quotes, highlights of introduction and regulation, top coins, predictions and more – the week on Cointelegraph in one link.
News of the week
In memory of John McAfee: Computer programmer and cryptographic evangelist dies at age 75
John McAfee was found dead in a Spanish jail cell just hours after a court in the country ruled that he could be extradited to the United States to face charges of tax fraud. He was 75 years old.
He was best known as the creator of one of the most famous antivirus programs in the world. The entrepreneur also made headlines in the crypto space and mainstream media for predicting in July 2017 that the price of bitcoin would reach $500,000 by 2020. McAfee didn’t meet the terms of an extravagant bet in which he said he would eat [his] dick on national television if it didn’t work.
Spanish authorities have not ruled out McAfee committing suicide. The news of his death caused a tidal wave of congratulations and conspiracy theories.
Former NSA employee and whistleblower Edward Snowden tweeted: Europe must not hand over accused non-violent criminals to a justice system so unjust and a prison system so cruel that the accused would rather die in their own country than be victimized.
Cardano founder Charles Hoskinson called McAfee a deeply troubled man, but also praised him as one of the most enigmatic and interesting people in the cryptocurrency space and in the history of computing.
In El Salvador, each adult citizen receives $30 in bitcoins.
The opposition may challenge President Nayib Buquele’s bitcoin law, but it seems El Salvador’s leader plans to go ahead with his plan to make the cryptocurrency legal.
Bukele announced this week that the government would hand out $30 in BTC to citizens who download a government-issued crypto-currency wallet. He also confirmed that BTC is at 7. September will be official legal tender.
Bitcoiners applauded the announcement, with reputable people pointing out that the Salvadoran government will need to buy the necessary BTC it plans to distribute, putting pressure on the markets to more than 100 million dollars .
Channel analyst Willie Wu tweeted that the number of bitcoin users worldwide would increase by 2.5% if the 4.5 million Salvadorans accepted the president’s proposal.
Ethereum and altcoins are likely to fall further than bitcoin if BTC loses $30,000, warnsanalyst.
Bitcoin retreated after hitting a high of $36,059.48 earlier this week.
According to independent market analyst Flibflib, altcoin traders and investors should hide if the world’s largest cryptocurrency drops below $30,000.
In a tweet posted by late Friday, they said a 30% drop in the bitcoin market could cause altcoins to fall twice as much.
At the time of writing, bitcoin is down 14% for the week, but small-cap coins are much worse off. Ether loses 21%, Binance Coin loses 20%, Dogecoin loses 19%and XRP suffers losses of 25%.
Bitcoin faces worst quarter since bear market began in 2018.
Bitcoin is heading for its worst quarter since the downtrend began in 2018.
The current quarter was also the second worst quarter for BTC in nearly eight years since early 2014.
Bitcoin is currently down 47% for the quarter, its weakest quarter since the first quarter of 2018, when it lost about 50% of its value in just three months, amid a decline from an all-time high in 2017.
SEC accuses XRP Army of publishing false statements against management on social media
Holders of XRP tokens have been accused of targeting members of the US Securities and Exchange Commission with false statements on social media.
Among those apparently in the crosshairs of the XRP military is a former SEC director, with the committee warning that this could discourage those aspiring to public service positions.
In December, the SEC filed a complaint against Ripple, alleging that the company, CEO Brad Garlinghouse and co-founder Chris Larsen conducted an ongoing, unregistered offering of securities with digital assets through the sale of XRP tokens.
In response to the SEC lawsuit, Ripple said XRP is more similar to Bitcoin or Ether, which the regulator has classified as commodities rather than securities.
Radical need to update blockchain security protocols
Deeper security practices will increase trust in WiFi and create a security culture that will help the industry grow.
Taproot Bitcoin blocked to improve privacy and implement smart contracts
The Bitcoin Taproot update will be enabled later in 2021, while developers try to build apps that take advantage of the update.
Altcoins are tracking the price of bitcoin as the crypto currency market is plagued by uncertainty
History shows that in times of severe market turmoil, most altcoins tend to follow bitcoin’s price movements closely.