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Tuesday, December 26, 2017

John McAfee stops his "Coin of the day" tweets following backlash...


Last week, John McAfee started his "Coin of the day" tweets, where every day he would recommend a new coin.  This was met with some backlash as people labeled it "McAfee pump and dumps" when it appeared a large number of people were buying immediately following the tweet, and then selling minutes or hours later after the price had jumped up.  Causing McAfee to adjust his plan today, tweeting: 

So, look out for the "coin of the week" now instead.

Critics have said this method only draws people looking to make a quick buck, and makes it harder for long term investors to evaluate the true value of the coin after McAfee promotes it.

John McAfee is best known for creating the worlds first commercial antivirus software, but left the company he founded in 1994 and has since been involved in mobile apps, alternative medicine, and cryptocurrencies.

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Author: Oliver Redding
Seattle News Desk