John McAfee Exits Private Asset Cryptocurrency Project ‘Ghost’

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

  • Tech expert and entrepreneur John McAfee has announced departure from his own privacy asset project ‘Ghost’
  • McAfee has blamed it on the inefficiency of the management team, while the team thinks he is a ‘loose cannon’
  • A twitter user by the name Gare Bear feels John’s make-quick-bucks schemes are an example of “real men” leading young people astray in the worst possible way

A tweet from cryptocurrency expert and entrepreneur John McAfee says that he is abandoning the ‘Ghost project’. He has blamed it on the incapability of the management which he opines would inevitably lead to the project’s failure.

Despite trying to explain the fundamental principles of management, the team apparently did not pay heed to his words. John has apologized to his followers for the same.

Ghost: The privacy asset project

Earlier, McAfee had bashed Bitcoin in recent months for its lack of privacy, and Ghost was his private asset project to design a proof-of-stake, privacy-focused asset. He tweeted about the endeavour in April this year.

Soon after, PIVX accused Ghost of theft, citing that “At least 20 of the 26 total pages” of the Ghost whitepaper “contain material directly plagiarized from the 2018 PIVX whitepaper.”  Interestingly, McAfee himself admitted that his project had plagiarized content from the white paper of PIVX, another anonymity-focused crypto asset, but threatened to sue PIVX nevertheless.

The Bitcoin prediction

The exit doesn’t come as a surprise as McAfee’s predictions, actions and reactions are viewed as ‘eccentric’ by many. For instance, in 2017, the founder of McAfee Associates- a leading global software security company-had predicted that Bitcoin would hit a price of $1 million by the end of 2020, which he later clarified was only a ‘joke’. The man has also affirmed that he will be removing his two-month-old Ghost tattoo following the departure.

Blame games begin

As a representative from the Ghost team puts it in the Ghost telegram channel, despite being a tech pioneer, McAfee is after all a ‘loose cannon’. He further assured that while McAfee’s name would be deleted from the project, the exit won’t impact overall future plans. That is because Ghost is an open-source, decentralized blockchain project and in no way dependent on John promoting it within his network.  The Ghost team representative points that John is in no way involved in any day to day hands-on operations, nor has he ever been involved with any of its technical aspects.

Ghost down by 50%

Back in July, news of the token’s acquisition by Hong Kong Disneyland had triggered a slightly positive price action that witnessed a 38% climb. However, following John’s exit, the Ghost token (GHOST) has crashed by 50%, worsening its recent trend of a price decline that began in late July.

Reactions from the crypto world

A twitter user by the name Gare Bear feels John’s make-quick-bucks schemes are an example of “real men” leading young people astray in the worst possible way, while J9Dalton thinks that if McAfee Security was very successful, John knows how to make the Ghost project successful too.

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