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What is Bitcoin? Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.
The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.
Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.
Bitcoins in its pure essence is money. It is digital currency that serves the same functions and pu…

John McAfee Ditches Ghost Crypto Project: He Says It Will Fail

John McAfee Ditches Ghost Crypto Project: He Says It Will Fail

Two-time U.S. presidential candidate John McAfee has announced that he is leaving the ghost cryptocurrency project, claiming that it will fail “without a doubt” and his reputation has been damaged. His Ghost phone service, however, will be launched as planned, he emphasized, adding that there will be a new cryptocurrency for the Ghost ecosystem.

John McAfee’s Trouble With Ghost Crypto

John McAfee, who has been building the Ghost ecosystem that includes the privacy-centric ghost cryptocurrency, an exchange, and phone service, has announced that he is no longer supporting the ghost cryptocurrency. He tweeted Wednesday: “I am abandoning the Ghost project. Management is incapable of making a success of the project. It will, without a doubt fail.” He then apologized to those he “led astray.”

The antivirus tycoon insisted that he really believed in the ghost cryptocurrency but Switch CEO Josh Case ruined everything. “Josh controlled the project. He was killing it,” McAfee told his Twitter followers. “Josh is an idiot,” he continued to tweet. “I added Ghost to my Ghost ecosystem because I had his assurance that he would be 100% focused on ghost. He never fulfilled that promise. I could no longer support a project managed by someone working on Clearpoll, Ethershare etc.”

John McAfee Ditches Ghost Crypto Project: He Claims It Will Fail, His Reputation Damaged

To explain why his “hands are tied,” McAfee posted a private message he said he sent to Case. “If you had told me, from the beginning, that making money for you, myself and everyone involved in Ghost, was of no interest to you and you merely wanted a piss around with worthless projects, like Ethershare, from your past that never made you, nor anyone else a dime, then I would never have given you legal control over ghost,” the message reads, adding:

Now I have to find another coin for the Ghost ecosystem and you have damaged my reputation through your inability to focus exclusively on the task at hand.

The Ghost ecosystem also consists of the Ghost phone service which McAfee announced in July. It claims to help subscribers be “invisible,” noting that it will be “the first 4G data service to make connections to the network untraceable.” After meeting with the Ghost executive team, McAfee confirmed: “Our Ghost phone service – coming Sept. 30, is the foundation of our ecosystem and nothing will change with the service. We are, though, dropping GHOST as our privacy coin and will replace it.”

The ghost cryptocurrency launched in June and the Bitcoin.com exchange listed the ESH token at the end of May prior to McAfee airdropping some ghost coins to ESH holders. In the same month, the Ghost team announced a partnership with the digital currency payment processor Ivendpay that allows 60 vending machines in Hong Kong to accept the ghost cryptocurrency for payments along with other cryptocurrencies, such as BTC, ETH, BCH, and BNB.

Responding to McAfee’s departure announcement, the “Ghost by McAfee” team clarified on Wednesday: “We will be dropping the ‘by John McAfee’ soon and will just be called Ghost … John is in no way involved in any day to day operations, nor has he ever been involved with any of the tech or building of Ghost.” The price of the ghost cryptocurrency has fallen about 63% from its Wednesday high to $0.266391 at the time of this writing.

What do you think about McAfee’s trouble with the ghost crypto? Let us know in the comments section below.

The post John McAfee Ditches Ghost Crypto Project: He Says It Will Fail appeared first on Bitcoin News.



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