Tech pioneer, maverick and iconoclast. These three descriptors perfectly sum up what John McAfee. The creator of McAfee, the world’s first commercial anti-virus software, who also took a shot at the American Presidency in 2016, is now arguably the most influential voice in cryptocurrencies. In a live chat with TheBigScope’s Aritra Sarkhel & Tarutr Malhotra, McAfee spoke about the future of cryptocurrency, its impact on society and living the good life – only the way he can.  Edited excerpts:   

Mark Cuban, the owner of NBA franchise Dallas Mavericks, has just announced on twitter that the popular basketball team will accept Bitcoin as payment for tickets from next season onwards. This comes after the Sacramento Kings announced that they would begin using Bitcoin as a method of payment from March 1 onwards. The next NBA season should begin around October 2018.

Dear reader,

The excitement never ends when it comes to the world of cryptocurrency. Most of the major coins are in decline, and the market is mostly in red today. Is the bubble finally bursting?

Nearly all of 20 top cryptocurrencies fell in value over the last 24 hours, with the exception of NEO and Monero. In the past 10 days, this is the third big fall in valuation. Many wonder if the decline is triggered by the news that China will expedite the crackdown on cryptocurrency trading and a censorship will be put in place. Maybe.

A crackdown on cryptocurrency investments and exchanges may not happen immediately in South Korea. A statement from South Korea’s Office of Government Policy Coordination issued a statement today (January 15th) clarifying that a proposed shutdown of all cryptocurrency exchanges after “sufficient consultation and coordination of opinions.”

The statement is likely to shore up cryptocurrency valuations, which had taken a beating last week on the prospect of a crackdown by South Korean regulators.

As of this weekend, 80% of all possible Bitcoins have been mined. As of 13th January 2018, over 16.8 million Bitcoins — out of a total of 21 million possible Bitcoins — have been mined. ‘To mine’ a bitcoin is the method for increasing the supply of Bitcoin. Basically, a computer – or a pool of computers – has to solve a mathematical problem before anyone else to mine a Bitcoin.