Privacy Coins Are Used By Criminals And It’s A Good Thing, Says John McAfee

Famous American entrepreneur and cryptocurrency proponent, John McAfee, recently spoke of the implementation of privacy coins. He believes that criminals are using them because of their technological value, and authorities cannot keep up.

Privacy Coins Used By Criminals: McAfee

Aside from being a successful businessman, John McAfee is also a well-known Bitcoin proponent. Until recently, at least, when he changed his stance towards the largest cryptocurrency. He went from a bold $1 million prediction to “Bitcoin is the true Shitcoin.” He also said that the future of the cryptocurrency industry rests with alternative coins.

Earlier today, he narrowed down his support on a specific type of altcoins by outlining the value of privacy coins. According to McAfee, criminals are utilizing them, which is a positive sign: “they are first to use every valuable technology.”

In McAfee’s views, authorities cannot cope with the technology behind privacy coins. By making another reference from the automotive world, he thinks that privacy coins represent “faster automobiles as gateway cars in the 1930s.” Previously, he compared Bitcoin with the famous Ford Model T, naming both as “ancient technology.”

What’s So Special About Privacy Coins?

Some people wrongly assume that all cryptocurrencies are entirely anonymous. That’s not always the case, though. For instance, it’s entirely possible to associate a Bitcoin address with a specific individual if he has ever used a cryptocurrency exchange, which requires identity verification.

Privacy coins, on the other hand, conceal all the information from the sender and the recipient. When completing transactions, they…

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