- John McAfee has dramatically ditched the cryptocurrency associated with his GhostbyJohnMcafee project
- McAfee posted a series of tweets suggesting he had abandoned the project completely before clarifying that he had just ditched the coin
- The news hasn’t gone down well with those who bought the coin on the back of McAfee’s name, which has dived 57%
John McAfee has dramatically ditched the cryptocurrency associated with his GhostbyJohnMcafee project. In a series of tweets posted last night, the internet security pioneer first suggested he had quit the project before clarifying that he was simply ditching the GHOST cryptocurrency associated with it, causing the price to crash 57%.
McAfee Quits “Failing” Project
McAfee began his tirade with a tweet suggesting that he was “abandoning” the Ghost project because of poor management:
I am abandoning the the $Ghost project. Management is incapable of making a success of the project. It will, without a doubt fail. lI tried to explain the fundamental principles of management, but they fell on deaf ears. My apologies to those that I led astray” Sorry.
— John McAfee (@officialmcafee) August 19, 2020
To underline the seriousness of his decision, McAfee added that he was going to get his Ghost tattoo removed, as well as trashing the Ghost team in replies to comments. McAfee added further explanation less than an hour later when he clarified why he quit the “failing” project:
The $ghost project is calling me a loose cannon because I called them on their bullshit.
If I am a loose cannon because I dropped my support for a failing project so be it.
I will not support bullshit.
— John McAfee (@officialmcafee) August 19, 2020
McAfee’s claim that he does “not support bullshit” will ring hollow to those who were around for his ‘coin of the week’ during the 2017 crypto bull run when he tweeted support of a coin to his legions of followers on a weekly basis in return for payment. Exactly what “bullshit” McAfee called them on is not explained, but it was clearly enough for the renegade software developer to quit the project.
Clarification Sees GHOST Crypto Ditched
However, McAfee then sowed further seeds of confusion by announcing around 40 minutes later that he had “met with the Ghost executive team” and as a result, “nothing will change” with the Ghost Phone Service planned for September, adding that the GHOST cryptocurrency had been dropped from the offering instead. Understandably, this caused mass confusion:
The blame for dropping the GHOST cryptocurrency was laid squarely at the foot of Josh Case, the head of the GHOST coin project, who McAfee blamed for taking his eye off the ball as far as the GhostbyJohnMcafee project was concerned:
What happened $GHOST?
Josh Case happened. 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 (@officialmcafee) August 19, 2020
McAfee hasn’t tweeted about the project since, but the price of the coin has taken a 53% haircut in the wake of the announcement, which has caused some to take a huge hit on the price of the token which is now, it seems, divorced from the project of the same name and is therefore almost redundant:
Wtf john I’m balls deep in ghost coin based on you and you alone. I’m going to lose my ass on this, I will be expecting you to buy me a pint at least.
— John Duncan (@dunktheduke) August 19, 2020
McAfee is known for his flights of fancy and extreme behaviour, meaning that anyone investing in a project so closely attached to him carries more risk than with regular cryptocurrencies.
