Cryptocurrency News reported that John McAfee has launched his new Ghost Phone Service to supplement his growing Cryptocurrency funds. I believe this to be a great move for McAfee.
I’m very active in this industry and it’s not always possible to own and trade your own Cryptos on the internet. Many investors and traders tend to believe that they must first purchase the currency they wish to trade before trying to trade it. While this is perfectly fine, you don’t want to be in a situation where you are unable to sell your investment. A must have feature for any trader is the ability to engage in direct trading, where the trades happen in real time.
I also believe that McAfee has made the right decision to launch his new service because he has little room to lose if his software becomes an instant hit. He’s already had to deal with incompetent customer service before, just when he was on the brink of launching a software that would help traders make a living off of their Cryptos. I would like to think he’s learned from that mistake and knows the importance of utilizing his development team to make sure his software is quality built.
John McAfee also seems to believe in market timing. He’s already proven this to be true with his Ponzi Scheme which has now been shut down, and now his newest project is likely to be another victim of “market timing”.
With McAfee’s new service, he believes that the market will create interest in this product, and the demand will result in the product’s value increasing. Obviously this will be a risk, and it is something that has never been done before. This comes with inherent risks for any investor, and McAfee is aware of this.
It seems as though John McAfee is looking to take advantage of the demand of his new product by using what he believes to be his software to force it to become an instant success. If he’s wrong, then he could end up with a big loss.
I can certainly see where you would come down on this issue, and I’m not in favor of John McAfee taking advantage of people’s desire to jump on the Cryptocurrency bandwagon. I’m pretty sure he understands this, but if he believes the product will work, and it does, then he’s obviously in it for the long run.
To sum it all up, I think McAfee has made the right move by launching his new Ghost Phone Service, even if he’s only doing it to supplement his Cryptos profits. I’ll look forward to his new product, but also hope he realizes he’s on the fast track to failure if it doesn’t become a success.