Popular cryptocurrency advocate John McAfee has ghosted his Ghost project, citing incompetence of the management team.
McAfee Ghosts Ghost
Tweeting on Wedsnesday (August 19, 2020), McAfee announced that he was dumping Ghost, a privacy-centered project. Back in April, McAfee announced the Ghost privacy coin, which uses proof-of-stake (PoS) and will ensure users’ privacy by making them “ghosts” when carrying out transactions.
The tech guru further explained the reason for his actions, saying:
“I tried to explain the fundamental principles of management, but they fell on deaf ears.”
McAfee went on to declare that the Ghost project was undoubtedly doomed to fail while apologizing for leading people astray.
Wednesday’s decision to exit the project comes as complete 180 from this publicly espoused sentiments from a week ago. At the time, McAfee tweeted in response to critics of the privacy coin, stating:
“I have labored my entire life to reach the point where I could produce an Ecosystem as powerful and groundbreaking as the Ghost Exchange, the Ghost coin and the Ghost phone[…] $GHOST is the future.”
The split appears to not have been amicable with both parties making less than savory comments about the other. McAfee called one of the project’s team leads “an idiot,” with the company referring to McAfee as a “loose cannon.” In a move akin to the aftermath of a nasty breakup, the controversial McAfee blurted that he plans to remove a couple of Ghost-related tattoos.
McAfee has been a controversial figure in the crypto space. The tech expert predicted in 2017 that Bitcoin’s price will get to $1 million before the end of 2020, or he would eat his parts. However, McAfee made a u-turn, stating that only an idiot will believe the elaborate prediction.
Ghost Tanks 50%
Following McAfee’s announcement, the Ghost token (GHOST) has crashed 50%. Wednesday’s price decline has served to worsen the dip that began in late July. Indeed, GHOST is down 71% in the last 30 days. Back in July, news reports of the GHOST token’s adoption by Hong Kong Disneyland helped to trigger some positive price action that saw a 38% climb.
The GHOST token decline has also come amid a “red-day” for cryptos in general. The total cryptocurrency market capitalization has seen a $20 billion decline over the last 24 hours.