McAfee
Daily Ramble
Yesterday brought a reality check: John McAfee was pronounced dead in a Spanish prison at 75 years of age. While not a fan of John McAfee’s antics, they have been a large part of the circus surrounding crypto that I’ve come to enjoy about the space. If there was someone more colorful in the space, I can’t think of them. His color and approach to life was not something I aspire to or recommend for anyone, but it was shamelessly John McAfee, and if there’s one thing I do aspire to, it’s living the most honest version of myself. John let his freak flag fly as damn high as pretty much any human on the planet could.
From providing the world the first anti-virus software to running for President of the United States to being accused of murdering his neighbor in Belize to sex and drug escapades that would make the dread pirate Black Beard stand up and salute, John was a living Hollywood character. However, in the last decade, his most prominent professional role — if it could be called that — was promoting the importance of cryptocurrencies to protect individuals from government overreach. Despite his questionable tactics and the shameless exploitation of people investing in projects he promoted, he brought awareness to crypto and its values. John was one of the early pied pipers that led crypto out of obscurity and into the marginal fringe.
I can’t say that his end was tragic either. Especially not since he’d been pointing to the fence his life would end behind years before it actually occurred and exactly as predicted — literally:
The last one was written while he was in prison in Spain.
Now, I won’t say that his death was or was not a suicide. Still, I do find it highly suspicious that the day after Spain agreed to extradite John to the United States on tax evasion charges, he was discovered with a broken neck in his jail cell. Mainstream media is only pointing to John’s death as a suicide without reference to the tweets above — also suspicious. “Being suicided” is a new term coming into vogue right now on Twitter regarding the matter. But here’s the reality — John was a highly complicated man. He very well could have killed himself. It’s just hard to accept that without a transparent look into the circumstances surrounding his death.
So, where do I stand on the matter? I’m sad the world lost a renegade. And if we see some surprising news hit the wires in the months ahead motivated by a deadman’s switch John McAfee left behind, then he most certainly was suicided.
Nuanced Things on the Interwebs
Rest in Peace, John McAfee. You were a complicated and entertaining man.
Bitcoin Price Prediction
Yesterday: $32.2k - $35.5k
Today: $31.6k - $34.9k
Tomorrow: $30k - $35.5k
Two days ago, we had quite the bullish recovery from the range lows at $28k. Today, the bullish recovery is starting to stall. The bulls can still push, but the continuation push I’d hoped to see yesterday to validated strength from the bulls didn’t happen. Exchange inflows of Bitcoin have also started to creep up again. All in all, Tuesday’s bounce has the feel of a bull trap. I hope that I’m wrong and the bulls continue to push prices higher, but taking positions based on hope is a losing strategy. For that reason, I’m biased towards more downside in the days ahead. If we lose $31.6k, then a retest of $30k will be imminent. There’s only so many times that a door can be knocked on to ask if there are buyers home before there are no buyers home to receive the sellers. In other words, I can’t see $30k holding up the market if we get there again. Not for too much longer, anyhow.
Bitcoin Q & A
Q: Can Bitcoin mining be done on any form of energy?
A: Yes.
As long as the energy can be converted to electricity, Bitcoin mining can be done on that energy. The returns on a mining investment are best maximized by having consistent electricity without downtimes.
Thanks for reading,
Kent
Do you have questions or a “Favorite Thing on the Interwebs”? Comment below or reply to the newsletter to reach me.
Do you want to receive Kent’s Corner each weekday?
Me? I offer personal and corporate Bitcoin Implementation Strategies: custody, investing strategy, security, tax management, and inheritance. Contact me for a free initial consultation.