John McAfee “Gets Real” About Bitcoin’s Price Decline, Remains Bullish

Francisco Memoria
  • Eccentric cybersecurity pioneer John McAfee "got real" about Bitcoin's price decline
  • Notably he still remains bullish, as he pointed out its still up 120% when compared to last year.

Eccentric cybersecurity pioneer and Bitcoin bull John McAfee recently “got real” about the flagship cryptocurrency’s price decline, by pointing out that one year ago today the cryptocurrency wasn’t trading anywhere close its current near $6,000 price.

On Twitter, the cryptocurrency advocate who recently claimed he was spiked and left for dead, told his over 830,000 followers that one year ago Bitcoin was trading at $2,560, and that at the time of his tweet it was at $6,000.

At press time, the cryptocurrency dropped below its $6,000 support, and is currently trading at $5,870. Taking into account its price from a year ago, it’s still a 120 percent increase. Per McAfee, his followers should “stop the short term thinking.”

It’s worth noting that in May John McAfee boldly predicted Bitcoin would surpass $15,000 this month. Per his words, he used an algorithm he claimed had never been wrong, that also predicted EOS would hit $32 by the end of July. Bitcoin Private (BTCP), a cryptocurrency he promoted on social media, was also set to hit $200 by the end of July.

At press time, EOS is trading at $7.17 after falling nearly 14 percent in the last 24-hour period, partly because of the EOS Core Arbitration Forum’s (ECAF) move to order the network’s 21 block producers to freeze 27 accounts.

Bitcoin Private (BTCP) is trading at $11.76 after barely seeing its price move in the last 24 hours. Hitting $200 by the end of July would mean the cryptocurrency would still surge over 1,600 percent in little over a month.

Notably John McAfee’s boldest price prediction saw him bet Bitcoin will hit $1 million by 2020. According to tracking websites the cryptocurrency was on track until a few months ago, and is now down by 49.72 percent as the price would need to be over $11,700 to be on target.

Recently the cybersecurity pioneer revealed he was going to stop promoting initial coin offerings (ICOs) after the US Securities and Exchange Commission (SEC) allegedly threatened him. Shortly after making this announcement, he partnered up with a relatively unknown company named Bitfi to promote a “truly unhackable” cryptocurrency hardware wallet.

Runescape Hakcers Use Glitch to Make Trillions in Game and Use Profits to Buy Bitcoin

Michael LaVere
  • Runescape hackers were able to exploit a double-spend glitch to generate trillions in in-game currency and use the profits to buy bitcoin.
  • Community members have suggested publisher Jagex consider adopting bitcoin or another crypto-asset to resist double-spend attacks.

Runescape hackers were able to exploit a double-spend glitch to generate trillions in in-game currency and use some of the profits to buy bitcoin. 

According to a video published by popular YouTuber SirPugger, the exploit began in November 2019 with the hackers crashing the Old School Runescape’s economy via the creation and use of thousands of new accounts. Runescape’s servers responded to the account overload by rolling back to the last login point. 

Hackers were able to exploit the roll-back by trading gold between two accounts while only logging out of the account which received the gold. According to the video, the rollback would result in both accounts holding the gold, resulting in a double-spend attack. 

While Jagex, the publisher of Runescape, patched the exploit for Old School Runescape, the hackers were able to employ a similar double-spend attack on Runescape 3. 

The video claims the hackers were able to continue the exploit for several days before Jagex was finally able to fix the rollback mechanic, racking up trillions in double-spend game currency in the interim. 

SirPugger said, 

I can tell you we’re talking about multiple trillions of Runescape 3 dupe, which translates to over $250,000.

The hackers attempted to offload their in-game currency through multiple avenues, including gambling and exchanging for bitcoin. 

Some community members have proposed Jagex consider adopting bitcoin or other crypto-assets for their in-game currency and leveraging the blockchain technology to provide resistance against double-spend attacks. 

Featured Image Credit: Photo via Pixabay.com