A List of All the Coins McAfee is Tweeting About and What You Should Know Before Trading/Investing in Them
John McAfee was touting a cryptocurrency every day for 20 days, he switched to Tweeting about a coin a week. We list all his picks here.
First we’ll provide a full list of coins McAfee is Tweeting about (his coin of the week and ICO of the week).
Next, we’ll move on to updates and some general notes pertaining to what McAfee is doing and how you might want to play his picks.
The List of All Coins McAfee Has Tweeted About on Twitter Recently (His Coin of the Day, Coin of the Week, ICO of the Week, and Other Notable Mentions)
The following coins and ICOs were all announced on John McAfee’s @officialmcafee Twitter page.
Coins that count toward the 20 (Originally a Coin of the Day, now a Coin of the Week):
- Electroneum (ETN)
- BURST (BURST)
- Digibyte (DGB)
- Reddcoin (RDD)
- Humaniq (HMQ)
- Tron (TRX)
- Factom (FCT)
- Doge Coin (DOGE)
- Stellar Lumens (XLM)
Coins noted but not officially touted as part of the McAfee 20:
- Bitcoin (McAfee touts Bitcoin, but also supports Bitcoin Cash)
- Verge (XVG)
- SafeEx (SAFEX)
- Monero (XMR)
- Zcash (ZEC)
McAfee’s ICO of the Week and Notable ICOs Mentioned:
- Mcafeecoin (an ICO McAfee is the cofounder and director of)
- Bob’s Repair
NOTE: If I am missing something feel free to comment below.
Notes and Updates on the McAfee Coins
The list above is useful, but it will be far more useful in context. Below are some updates and notes that will help offer context:
For the first 5 days McAfee Tweeted a coin of the day, however he has now switched to a coin a week.
The reason he switched to a coin a week was essentially that bots were pumping each coin before the average person could buy them and then dumping them. This happening every day was causing increasing amounts of chaos.
Then, on Christmas (of all days), all the coins were rather unceremoniously dumped even further than they had been initially based upon (from what I can gather) two bits of news. 1. some FUD spread about Verge and 2. McAfee announcing he would start trying to trick the bots by using images (that tactic doesn’t seem to have worked in retrospect by the way). Further, those events occurred on a day when Bitcoin went up, so those trading in BTC pairs got a double whammy (as when BTC goes down, other coins fall in terms of BTC price by necessity).
All that said, the end result of the switch has since been mostly good. That is, the previously announced coins have been a little more steady since recovering from the initial dump and the move to a coin a week.
Moving forward one will most likely want to avoid buying these coins right away, wait until the price steadies out (starting buy-ins a good hour after the price steadies, if not hours to days), and then be ready to hold the coins McAfee suggests as medium or long term plays. Playing these short for a profit has become increasingly less realistic, as has guessing the coin (as one now has to wait weeks to months to find out if they are right).
If you do try to play these short, remember to set stops, and be very careful about buying the initial candle (once it gets high enough, you’d be better off shorting the coin honestly… although don’t mess with that unless you know what you are doing).
If it is unclear what I’m saying, reference the image at the top of the page that uses Factom as an example using a 5 minute candle chart (that giant green candle on the 5 minute chart is the pump, the next red candle is the dump, its hard to act quick enough to play in this space; instead you can start buy-ins after the price settles, you may see ups and downs from there, but they likely won’t be as wild as the initial hour or so).
THE ABOVE APPLIES TO COINS, NOT ICOS: The above advice does not apply to ICOs. ICOs you want to invest in should generally be purchased either during the ICO or shortly after hitting market. However, when they do hit market, you’ll need to be cognizant of price fluctuations (just like you would be with a McAfee coin of the week).
NOTE: For better or for worse, the coin of the week has been drifting back down to its initial price in terms of BTC within about 24 hours of it being announced (for example Factom, Tron, and Humaniq). Given that, you might want to wait about 24 hours after the coin is announced to start buying. Each coin has generally gone up over the course of a week or so after that initial peroid, but the first 24 hours have been lackluster for the coins of the week so far. Thus, unless you can buy and sell the initial candle, it might be worth holding off a day to start building a medium-term or long-term position. That said, anyone who bought after the price settled a bit has generally done well.
UPDATE MCAFEE TWITTER HACKED DEC. 27: McAfee’s Twitter was hacked (somewhat ironically) on Dec. 27 for a brief moment. The result was that a few fake “coin of the day” coins were Tweeted about and then quickly deleted. Some of the picks were great coins, but importantly they were not official McAfee picks. The fake Tweet coins were BAT, SIA, PTOY, and NXT.
UPDATES AN ICO A WEEK: McAfee began tweeting about an ICO a week. These Tweets were sent out every Monday. He then started tweeting more frequently, but not at set times (since ICOs can’t be pumped, and since there are so many, he has taken to Tweeting about them more often). We will keep you updated as to what his picks are (see below).
Now, some general notes on the McAfee coins:
- Most importantly, you should check out John McAfee’s @officialmcafee Twitter page and follow him. His Twitter page is where he announces the coins. He generally announces the coin at 6am PST each day (which is a easier or harder to be up for depending on your timezone). UPDATE: Moving forward he will announce the coin of the week every Monday on Twitter (he insinuated that he will vary the time he Tweets, but this remains to be seen).
- Bitcoin doesn’t count, neither do random projects he touts (like his own projects or ICOs he randomly mentions; he will make his pick of the day clear). We list some of his other mentions below, but they aren’t part of the 20 coins of the day/week or official ICO announcements.
- McAfee is generally going to pick coins that aren’t widely known, have privacy, are decentralized, and have interesting features (like unique code, a neat project, cool tech, etc). Generally you are looking for a coin trading under a few cents that has really promising features, but isn’t widely known (so although Monero, for example, fits the bill, it might not get listed due to the fact that it is already well known, has a high market cap, etc).
- There is rumor that McAfee is profiting from this. To that we have to assume that he is. What we are hoping is that he has also carefully researched each coin and believes in it, and is not for example just taking payola to shill some random coin that will end up being a bad investment for others. Let’s assume the best and avoid the fear, uncertainty, and doubt (so we will assume he is profiting, but sincerely approves of each coin). With the best in mind, we can say he is likely long in every coin he is touting and has done his due diligence and research. He strikes me as the type of guy who would sooner hold these coins into the ground then dump the coin on the day he mentions it. Most of the entities dumping the coins are bots programmed to follow McAfee’s Tweets. I’m sure the first time he mentioned Bitcoin it saw a price increase, but we know he held through this (and those who followed his lead were rewarded greatly of course). Only makes sense he would hold through these as well (and thus it may make sense for us to follow suit).
NOTE: Speaking the the Verge FUD, if you don’t think people will try to spread FUD to bring down the price of these coins after they rise in value, you don’t know crypto. Expect FUD like the FUD that dropped all the McAfee coins on Christmas (it was FUD targeted at Verge, I won’t spread it here, you can Google it). If you would panic sell your coin if it dropped enough in price, then you should have a stop in place before hand so you are selling strategically and not emotionally. Panic selling is almost always a bad idea in crypto.
Moving on with notes on how to play these coins. If you want to play the McAfee pick, there are some factors you need to consider:
- There is a near zero chance that you will get in before the initial pump if you don’t guess what coin is coming next or have an API setup to buy for you (Bittrex has most of the coins he touts, so you’ll want a Bittrex API AKA Bot). At this point the only ones getting in before the initial pump are those who know before hand, guess correctly before hand, and bots. If you don’t have a bot, and you aren’t McAfee’s best friend, then this probably means you don’t have much of a shot aside guessing correctly (or being very lucky with a quick buy).
- If you don’t/can’t play the initial call, there is still a way to play these. The coins McAfee touts tend to pump and then dump really fast (creating a “giant green candle, with a gnarly wick, followed by a much lower average price“). After the initial dump it generally a good time to buy (wait a least an hour, if not 4 or 5 hours, if not 4 to 5 days, after that initial giant green candle until the price stabilizes). Buying into the giant green candle can be dangerous, but historically buying after the initial chaos has worked out well (or if not well, certainly better than buying into the top of the giant green candle). In other words, if you don’t catch a lucky buy right away, consider waiting until the price stabilizes. So far every pick has gone up from that initial stable price (and most even from its highest price). If you mistime, but followed these rules, holding isn’t the worst play (as opposed to cutting your losses and selling low). Just keep in mind that you may not have much room for short term profits and these are all likely best done as long term plays.
- If you are lucky enough to buy immediately, then you might want to sell and get out while the price is still going up. You’ll have moments to get a sell off, and you are up against bots. Once the price starts falling your human hands likely won’t be quick enough to compete with the bots. If you miss a chance to sell, consider holding for 12 – 24 hours at least to see if you can recover some of your investment (this tactic has worked on some of these, but not all so far). Even those who want to go long in these should try to sell before the initial dump and buy again (hate to say that, but its true). You and everyone else will be doing this… but of course this is what causes the natural pump and dump. Many of us would love it if there wasn’t a dump phase, but we have to deal with reality here.
- Generally, and to reiterate the above point a bit, if you don’t plan to go long in the coin, consider taking profits when you have them. This can be done by taking incremental profits as they occur, or by moving stops up to lock in profits. Nothing says a coin that does well today has to continue doing well in the short term. Most of these picks likely have a bright future ahead, but if you aren’t overly committed to the coin, there is no need for you to marry it for the next months or years waiting for its value to go up.
NOTE: Assuming you bought before the pump or upon the coin stabilizing, you might want to consider holding a little of each coin long (its certainly the most sportsman-like move to make thinking of your fellow investors and the crypto community as a whole). If we assume McAfee is being legit and has done his research, you could be buying a .03 cent coin today that will be worth .30 cents in a year. That is a great 100x return that people who held Bitcoin from $100 to $10,000 got. I really do think that is what McAfee is going for here. The short strategies make sense, but consider keeping a bit of your buy long if it makes sense for you (for example, consider keeping some profits, a mistimed buy you “forgot” to set a stop on, or some coin you generally didn’t buy at the top).
TIP: To get a buy in when the price is rocketing upward, you have to set your buy for a price well above the current market price. Likewise, to sell when the price is crashing, you have to set your sell price well below the current price. It won’t trigger if you play it too tight. To sell you need a buyer, to buy you need a seller. If you want to play it safe, set stops and make sure your ask price is well below the conditional price that triggers the stop (expect slippage)!
Trying to Predict Which Coins McAfee Will Pick
Now, let’s discuss which coins McAfee might pick…
… I’m not going to say (sorry)…
…Here is the deal, I have a good sense of some coins that McAfee might pick, but I think its rather irresponsible to speculate on this site.
I already see some of the one’s I concluded from my research being speculated on, that isn’t necessarily going to have a great outcome if he doesn’t call a given coin (and it could make the market more chaotic if he does).
You can do a Google search for past McAfee interviews and pair that with what McAfee has said on his Twitter page in the past to get a good sense of what coins make the cut. Likewise, if you look at which coins randomly all dropped in sync when someone spread Verge FUD on Christmas (around 3 pm PST) you’ll get a good sense of which coins people are speculating on McAfee picking moving forward (as essentially all McAfee coins dropped in lock step at that point).
If you do that research, and you want to speculate on that research (and because you think you’ve found a great pick)… well then that is your call (I don’t think its a bad move if you know the risk and like the coin).
If a coin had a spike in its price and volume around the same time did ETN, BURST, DGB, RDD, and HMQ did, if it dipped when the Verge FUD brought down Verge for a moment, if it is an interesting project, and if it has privacy features… then 1. it is not a bad pick in general (right?) and 2. it meets McAfee’s criteria and fits the pattern so far.
To reiterate an above point, I am fairly sure that McAfee’s main goal here is to give a boost to coins he likes and he is long in (will hold for months or years). I don’t want to see a ton of people dumping these for quick gains with average investors (who potentially don’t have a ton of money to lose) caught in the cross fire, I assume McAfee doesn’t either.
I get that most people who would need me to tell them what coins fit this pattern are likely the same people who would be willing to hold (and conversely that those who are going for the quick pump and dump don’t need me to tell them).
Still, again, my suggestion for the average user is: 1. Get a buy in very quick by looking for that 6am-ish PST tweet (and, unfortunately sell quickly)… that is risky, but the worst outcome is you end up holding. Remember if the price goes too high and you are a few minutes in, hold off and wait for step 2. 2 (and most importantly). To wait until the price stabilizes after the announcement and then buy in (with the idea being that each coin so far has raised in value after the initial chaos.)
UPDATE: Remember what I said above, since this is now a coin a week, you won’t find out if your guess is right for weeks or months. That might change how you want to play that. A lot can happen in a few weeks in the crypto space.
TIP: A good tactic with any coin is to average your buys over time (so you buy an average price) and to set stops (in case the market implodes while your best laid plans are being implemented).