John McAfee Says He's No Longer Pitching ICOs "Due To SEC Threats"

The SEC crackdown on ICOs has, apparently, finally extended to one of the industry's most enthusiastic and prolific promoters: former software security pioneer John McAfee, who has earned a reputation for outrageous behavior (including promising in July 2017 to eat his dick on national television if bitcoin doesn't hit $500,000 in three years) in recent years.

McAfee, who hasn't been affiliated with his namesake company since 1994 and lost most of a fortune once worth $100 million in the years since the crisis, was at one point pitching a new ICO every day. And since before last year's boom, McAfee has been a regular on the cryptocurrency conference circuit and is part of what Bloomberg calls "a vast network of social media influences" who have helped ICOs raise billions.

McAfee

In his characteristic voice, McAfee said the SEC had warned him about recommending ICOs, forcing him to step aside, despite declaring the treatment "unjust."

"Due to SEC threats, I am no longer working with ICOs nor am I recommending them, and those doing ICOs can all look forward to arrest," McAfee wrote from his verified Twitter account, which has more than 820,000 followers. "It is unjust but it is reality. I am writing an article on an equivalent alternative to ICOs which the SEC cannot touch. Please have Patience."

The SEC has declared that ICO tokens are securities which must be registered with the SEC and follow all applicable securities laws.

However, the agency recently clarified that trades in ethereum tokens are not subject to securities laws - clearing the way for ether futures. In one example of behavior to which the SEC might object, back in March, MacAfee tweeted a link to a website that showed he charged $105,500 per tweet to promote ICOs and other products.

Comments

Automatic Choke American Psycho Tue, 06/19/2018 - 13:26 Permalink

If I place a bad bet in sports early in the season, and it becomes obvious halfway through the season, I can usually offset it or buy it back for a fraction of the loss (giving up my chance of a miraculous recovery & win).

Similarly in the options market, I can unload a losing position and recover part of the loss if I realize this early.

So..... Can John admit his foolishness and just eat 25% of his dick on national tv right now?  Better to save part of it.....

 

In reply to by American Psycho

RedBaron616 Cryptopithicus Homme Tue, 06/19/2018 - 14:13 Permalink

Yes, because you have taken loss of any rational argument. It is now a badge of honor and/or an article of faith to you. Knock yourself out, but don't kick people who think trading one fiat for another is not so wonderful a deal. Good luck rounding up your "greater fools" to get you out of your Ponzi scheme!

And if you were rich, you wouldn't be on here running your mouth about how great Crapcoin is. So tired of all the liars on here bragging about how rich they are. Go back down into Mommy's basement and shut up!

In reply to by Cryptopithicus Homme

richsob Cryptopithicus Homme Tue, 06/19/2018 - 15:22 Permalink

Oh yippee, you got "rich" on crypto.  OK.  Maybe I believe that and maybe I don't.  But I wouldn't trade all your crypto for the businesses I own that create substantial cash flow and steady profits while creating jobs.  And I'll be just fine if the Internet ever takes a shit or the Feds go ape and attack crypto currencies someday.  But you're a genius so one of us is really wrong.

In reply to by Cryptopithicus Homme

Nuclear Winter MasterPo Tue, 06/19/2018 - 12:27 Permalink

John Boy is an old man, got kicked out as failed CEO of MGT (stock is doing much better without him), and has just been whoring himself on crypto projects, because he can't think of, finance, and execute on a blockchain use case himself.

 

Washed up like cheap driftwood.

In reply to by MasterPo

boattrash ParkAveFlasher Tue, 06/19/2018 - 12:13 Permalink

"Due to SEC threats, I am no longer working with ICOs nor am I recommending them, and those doing ICOs can all look forward to arrest,"

Fuck all the dick eating jokes. Look at the real fucking problem, as it appears that the fucking feds threatened to make him a cell-mate of Ross Ulbricht, who is serving a life sentence + 40 years for a crime he wasn't charged with.

John Q. Public needs to wake the fuck up...decades ago.

In reply to by ParkAveFlasher

Chupacabra-322 boattrash Tue, 06/19/2018 - 12:28 Permalink

Anyone who understands the difference between a Free Republic with markets and the UCC Criminal Fraud UNITED STATES, CORP. INC. is de facto considered a “Threat” to their chicanery.

 

Lyn Ulbricht, mother of Ross Ulbricht, joins us today to discuss the arrest, conviction and unconscionable double life plus 40 year sentence of her son in the Silk Road case. We discuss the case against Ross and the exculpatory information that was withheld from the jury (and sometimes even the defence) during his trial. We also talk about the loss of his appeal in the 2nd District court and where the FreeRoss.org campaign goes from here.

https://www.corbettreport.com/interview-1285-lyn-ulbricht-updates-us-on…

 

For as long as the Populace continues to CONSENT to the Board of Directors aka "CONgress" & its CEO aka "President" within their 10 square mile Criminal Fraud DC District of Criminals.

 

The raping, murder & pillaging will continue. And, the Custom wearing jack booted thugs will continue to enforce the Fraud.

 

You,

 

Black Laws Dictionary, CONSENT to it by birth, silence, signature etc...

They're all involved in an elaborate scheme based on contrat law & Criminal deceit to Fraud The American People by CONSENT (Black Law's Dictionary) & being an accessory to the deceit & Criminal Fraud by contracting with the Criminal State.

We are "Governed" Indoctrinated into a Political, Educational, Religious & Economic UNITED STATES, CORP based on contract law which is based on Criminal Fraud, deceit & illusion.

 

The Private Corp UNITED STATES, CORP uses the cover of being a functional Government when in reality they are not. Much like the Criminal Federal Reserve uses The "Federal" in their name & use it as cover to give the illusion that they are a branch of the US Government when they are not.

 

Through bankruptcies, Criminal Contract Fraud & deceit the Charlatans have incrementally incorporated the US as well as your souls (birth cert) which are securitized via the Criminal Federal Reserve through to the IMF.

 

They're functioning off corporate version of the THE CONSTITUTION. It's the reason why The Global Criminal Oligarch Cabal Bankster Intelligence Crime Syndicate continues to lie, cheat, deceit, rape & pillage with impunity.

 

The only power the have over you is with CONSENT (Black Law's Dictionary). Pay no Taxes. Peaceful Non-Participation, Non-Compliance & being an accessory into their Criminal system/s based on Criminal Fraud, Debt Bondage & Enslavement.

Vote with Your Dollars. Seek Alternative Systems Decentralized outside the Control of the Borg. They're out there. Peer to Peer. Seek them.

 

It's because in times of trouble, the circle of trust contracts.

Smaller and smaller down to localities, and families. Local.

 

Trust in the federal government is collapsing/contracting along with other large institutions. 

 

Smaller circle of trust = decentralization.

 

Long Agorism.

 

AGORISM:
The ideology which asserts that the Libertarian philosophical position occurs in the real world in practice as Counter-Economics (see below).

 

AGORIST:
Conscious practitioner of Counter-Economics; older terms include Left Libertarian and New Libertarian.

 

COUNTER-ECONOMICS:
The study and/or practice of all human action which is forbidden by the State, including violation or non-compliance with regulations; sale and delivery of controlled or forbidden substances; ignoring of all borders and internal state boundaries, customs, tariffs, duties and taxes; evasion of taxes, tributes, levies and assizes; non-compliance with personal regulation such.

 

James Corbett:?The Most Dangerous Philosophy the Oligarchs Do Not Want You To Know.

 

https://www.corbettreport.com/the-most-dangerous-philosophy-what-the-oli...

 

In reply to by boattrash

Wild Bill Steamcock Cryptopithicus Homme Tue, 06/19/2018 - 12:23 Permalink

Yeah, the Fed can't manipulate your shitcoins, yet the speculators can?  Ahhh the logic. HAHAHAHAHAHAHAHHAHAHAAHH!!!!!

 

And what do you care if no one else wants this useless tripe?  If it's so awesome, have my potential share.  Oh, wait.  You need more people in, so you aren't the bag holder!!! 

It's evangelist/proselytizers like you who create no-coiners, you mongoloid.  People get sick of hearing it

In reply to by Cryptopithicus Homme

the artist Wild Bill Steamcock Tue, 06/19/2018 - 12:54 Permalink

How can you "have more people in" to a finite asset?

Just curious.

FYI, I personally do not care if anyone wants it or not. I don't own any but I would and will use it when the time comes for its intended purpose. 

In fact I feel the same way about it as I do about gold and I seek to educate people about both. It would be no use to rail against it. Bitcoin will always be what it is...a currency. 

In reply to by Wild Bill Steamcock

RedBaron616 the artist Tue, 06/19/2018 - 14:22 Permalink

Bitcoin is NOT a currency. Stop the lies! Who would want a currency that swings in value as much as Bitcoin? Imagine getting paid in Bitcoin and in a couple of days, your pay took a steep dive because Bitcoin dropped.

The difference between gold and Bitcoin is gold will never be worthless and it is harder to steal. You can't put your hands on your Bitcoins and there is nothing backing them up other than sheer faith. I don't invest in anything that has no intrinsic value.

In reply to by the artist

the artist RedBaron616 Tue, 06/19/2018 - 15:27 Permalink

If I understand you correctly...You are saying that It is impossible for me to trade $US for bitcoin, get on a plane to Paris and then exchange said bitcoin for Euro??? Because it is not a currency?  I really am trying hard to understand what you mean. Its hard because I only have your word salad to go by but it sounds an awful lot like you just don't know what you are talking about. 

If you are old enough I bet you pointed at a jet and said it couldn't fly because it aint got no propellers.

The world will change around you. 

In reply to by RedBaron616

lookslikecraptome Wild Bill Steamcock Tue, 06/19/2018 - 12:55 Permalink

Yes about the manipulation

cryptos need MASS adoption. Which they do not seem to be getting. Mass adoption will drive up the price. They need middle america and middle Europe and middle everywhere, and maybe middle earth,  to jump on board. 

Lunatics like dick eater john and jack dorsey do not help that cause. 

As u point out, any person that values their money and does some basic research will easily recognize the manipulation by the crypto powers that be. The wash trading and spoofing is easy to spot by watching the order books for a few hours. 

as you have noticed, one can very rarely have a legitimate conversation about the pros and cons of the coin world with people who have a coin symbol as their avatar. 

As exhibited, crypto homo does not even know there is a PPT in the crypto world. Cheerio bill

The emotionallity of the coineratti does not lend itself to good trading or investing. 

In reply to by Wild Bill Steamcock

the artist lookslikecraptome Tue, 06/19/2018 - 15:56 Permalink

Cryptos will require a decrease in volatility prior to mass adoption. 

Adopting bitcoin or any other crypto is not engaging in speculation...it means using it for its intended purpose, which is as a currency. 

Right now there are three ways to get over $50k out of China or transport more than $10k on an international flight to or from the US. 

1. bribe the right people

2. Use bitcoin or other crypto currency

3. Stick a diamond or a gold bar up your ass. 

Most people opt for #2. 

This may not matter to you and other critics...who cares. 

In reply to by lookslikecraptome

the artist lookslikecraptome Tue, 06/19/2018 - 19:47 Permalink

"all people no that cryptos need mass adoption"

Yeah no shit. Even though a moron said it above, I did not disagree with it. 

"There are so many more ways to move money than what u described"

Yeah no shit. All of them require being taxed or incarcerated...even in China. 

But even you understand that BTC is one of them and for many the only viable option. Or do you know something the rest of the world doesn't? 

 

In reply to by lookslikecraptome

Golden Phoenix lookslikecraptome Tue, 06/19/2018 - 19:54 Permalink

'as b4, ur a tard'

You have no idea how ironic your statement seems to rational beings. 

It's like saying 'You are a looser' or 'You are stuped'.

Sides of any argument aside try not talking like a 12 year old if you want anyone to take you seriously. You write as if you're the guy who shows up at a job interview in his pajamas. If you don't give enough of a shit about yourself to make at least a minimal effort no one else will either.

In reply to by lookslikecraptome

Wild Bill Steamcock lookslikecraptome Wed, 06/20/2018 - 06:50 Permalink

Yes, you have clearly articulated what I wanted to say, albeit in a more sane and lucid manner. 

It gets insanely frustrating trying to have any conversation about cryptos, because a certain group of people who won't hear anything (or say anything) other than cryptos do everything short of cure cancer, and you're a bloody fool for not selling every asset you have to pour into whatever flavor of coin they're partial to. 

Point out any potential problems, and you get the boiler plate "you know nothing about crypto; you don't know how block chain works."  You get no useful dialog and discourse.

I'm actually not against cryptocurrencies. If someone wants to buy, what do I care?

I do care about these internet version of the LDS or Jehova's Witness guys (any of you out there, stop it! go somewhere else) beating on the door, telling me I'll burn in Hell if I don't sell the farm and make "muh millions" on shitcoin

Thanks again, for being higher-functioning than I on articulating this

In reply to by lookslikecraptome