Artem Popov, co-founder of Roobee, met on the blockchain-cruise with John McAfee.
Artem Popov, co-founder of Roobee and a 300,000+ member community of investors, met on the blockchain-cruise with a man that many have known since childhood, John McAfee. A programmer, cybersecurity expert, founder of McAfee antivirus and Bitfi crypto wallet, as well as one of the most famous crypto enthusiasts.
Artem had prepared some questions and John was happy to answer them for our community of investors. John told about the biggest reward he promised to the hacker who can hack his personal wallet. He answered the question about how he feels about cryptocurrency mining and in which technologies he sees the future.
John, good afternoon! We are very glad that we met you and that we have the opportunity to talk with you about cryptocurrencies.
“I am still focused on security, on cyber-security, because the blockchain and cryptocurrency need security more than any other technology. The security is necessary because people put all of their money sometimes into the cryptos. Major exchanges are being hacked and hundreds of millions of dollars are being taken. It’s a major problem. If we won’t tighten the security of our applications, wallets and exchanges, then we will have some serious problems. So, security is still my number one concern.”
Is it true that you have increased the reward for hacking your wallet, if so, what is the amount now?
“Only for one person. There is one hacker and he is being a problem. He is running around and saying he has hacked our wallet. So, I’ve said him: “I give you my personal wallet with more than 20 million dollars on it. If you can take it — it’s yours”. I said: “All you have to do is come to me. If you want to hack my wallet, please, prove that you can do it”. I’ve even said I’ll pay his road. He refused.”
Do you plan to increase the reward for hacking your wallet?
“No, I’m not. It’s getting ridiculous. We offered a quarter of million dollars, I’ve offered one hacker 20 million dollars. Please, I am not going to raise.”
Do you mine cryptocurrency?
“No, I’m not doing mining. Mining is the most boring job in the world. It’s a very simple formula — temperature, cost of electricity, hashrate and the difficulty rate. I mean there is only so many variations of that. It’s a very mindless job. But it makes a lot of money. I was one of the largest miners in the world for a while. We had 7000 S9s running. And it’s good money. But it’s boring, I am sorry, I don’t want to do it anymore.”
How do you feel about centralized exchanges, and what do you think about them? Are they really the future? Or will there still be some centralized part that people will have to trust?
“We have to move to decentralized exchanges. The centralized exchanges are tremendously powerful. Unlike the New York Stock Exchange, the Chicago Board of Trade or Nasdaq, which are regulated, the crypto exchanges are decentralized world. For example, HitBTC. We don’t know what country they’re in, we don’t know people who are working for it, we don’t know who owns it, we know nothing about them. And yet they’re processing hundreds of millions of dollars per day. If we had centralized exchanges, the governments could shut us down by shutting down the exchanges. If our exchanges are decentralized they couldn’t be shut down by anyone. Let’s say, if Russia wanted to stop cryptocurrency, how they going to do it? If we have decentralized exchanges. There is no office you can go and shut the electricity off, or arrest the people, or destroy the machines. Nothing. There are tens of millions of peoples all working together as one massive computing structure that is peer-to-peer. It’s an amazing concept. So we have to move to decentralized exchanges, or corruption will increase and governments will find a weakness and shut us down. With decentralized exchanges we can no longer be shut down by anyone. By no government, individual, institute, nothing. Because exchange exists in everyone’s smartphone, or PC, or tablet.”
Many people predict another round of the financial crisis. Do you think traditional investment funds will shift their money from traditional financial instruments to crypto-instruments if the stock market starts falling again?
“Absolutely. Because the more the traditional financial institutions, exchanges and transactions are diminished the greater is the power of crypto. The crypto is powerful because it is virtually instantaneous, it is “permissionless”. I do not need permission to transfer money to you. If I go to the bank I need a bank’s permission, I need the government’s permission. People may look at it and say: “That’s too much money, we can’t send money to Russia, because we don’t like Russia”. Crypto is permissionless. You send me the wallet ID; I send you the money. Do you see the power of that? It puts the power of governments, of banks, of institutions into our own hands. That’s why crypto will succeed. And that’s why if the traditional financial institutions deteriorate — crypto will rise.”
One day, you realized in time that the world needed protection, antiviruses, and so on. You also saw the potential of cryptocurrencies in time. In which technologies do you see the future in the upcoming years?
“Let’s talk about the blockchain. Because the blockchain will be applied to every area of our lives. What is the blockchain? It is a record of reality, of truth, of what we all observed and what actually happened. That can never be changed. What happens during a war? The conquering country rewrites history, burn your books and writes its own. We get to choose what is true and what is false. Imagine if we had the blockchain since the beginning of time. There would be no questions about what happened with the Germany, France, or England in 1800s, nothing. We would know absolutely everything. So, that one moves slowly into every aspect of our lives. Why? Because it brings truth into reality. The biggest thing that the blockchain will be used for is the security. Why? Because what is the problem now — hackers wander into systems, pretending to be you or me, stealing your password, identity and doing things. If we apply the blockchain — hackers can’t come in! The blockchain says: “I’m sorry, I want to see the records. And looking at the past accesses — you don’t exist. I’m sorry, but you cannot come in”. Do you understand how powerful that is? So, computer security and the application of the blockchain to computer security is going to be the fastest growing application of the blockchain.”
Thank you for such an interesting interview! We were glad to see you and I think we’ll see you many more times! What can you wish to our subscribers, who are already more than 400,000? A parting word or edification from you in a few words.
“Stay on the course. Stay true to what you believe. Stand up for what you know is right. And you will win in crypto, I promise. Crypto will change the world rapidly and for the better. And these gentlemen here support it and they seem to be nice people.”
The surprising thing was how the image of McAfee differs from reality. Probably you imagine him as a hot-tempered, aggressive man, throwing words around. In media he is often shown as a scandalous person, known for his loud controversial statements regarding the future of cryptocurrencies and blockchain. But in real life he is very calm and reasonable person. He speaks steadily, quietly and with consideration. And his inspiring lecture regarding the future of cryptocurrencies on the main stage of blockchain-cruise elicited a storm of applause from the audience.