John McAfee Explains Why Mining Remains Lucrative Despite Crypto Market Plunge
Recently, he explained why bitcoin is still the best crypto and the lucrative nature of crypto mining.
Why John McAfee Still Rates Bitcoin Highly
John McAfee has maintained that bitcoin is still the best option in the crypto market. His sentiment seems to differ with critics who view bitcoin’s nature as a peer-to-peer in the electronic cash model as an inhibitor. McAfee who is a leading figure in the crypto community recently gave his insights during a sit down with AMBCrypto.
His opinion is highly regarded since he has vast knowledge on operations of cryptos. However, at some point, he issues controversial sentiments regarding the entire ecosystem. New cryptocurrency investors usually seek McAfee’s opinion since he is able to back his arguments with facts.
From a statistics point of view, McAfee stated that by 2020, bitcoin’s value will be standing at $1 million. His conclusion is based on the number of bitcoins mined and challenges experienced by miners. In other words, within a short period of time bitcoins in circulations for fresh blocks will decrease.
Generally, McAfee considers mining as a lucrative field despite various setbacks. He highlights that profits are earned through the relationship between bitcoin’s price and mining challenges. McAfee stated that investors will always make money whether bitcoin’s price is high or low.
Elsewhere, John McAfee will be the chief speaker at the cryptocurrencies conference of the Malta Blockchain Summit 2018 in November.