By CCN: John McAfee is launching a new cryptocurrency that bears his name. The McAfee Freedom Coin will make its debut in the fall of 2019, according to the crypto maverick in a tweet. In true McAfee fashion, John is naming the coin after himself,…
By CCN: John McAfee is launching a new cryptocurrency that bears his name. The McAfee Freedom Coin will make its debut in the fall of 2019, according to the crypto maverick in a tweet. In true McAfee fashion, John is naming the coin after himself, but there are some surprising features, as well, and they mostly include what the coin won’t have. In his tweet, McAfee kind of killed the mood among his followers, or at least confused them, when he stated:
“No it is is not mined. No, we are not doing an ICO. No, we are not looking for investors. No, we will not be listed on an exchange. No, we will give no more information before release of white paper. Yes, this is real… Also, there will be no airdrops.”
Then why, pray tell, is he launching a cryptocurrency? He explained the coin’s mission to CCN, which appears to be tied to total “economic freedom.”
While there is no white paper yet, John McAfee did publish a one-pager on the new cryptocurrency that he wrote himself.
“The McAfee Freedom Coin is designed to confront the problem of exchange head-on, using a unique paradigm and a new structural concept. It is not based on any commodity nor is it connected to the value or behavior of any external item or entity. The value of the coin will always be zero in relation to any other currency yet it’s natural market value is free, completely, to grow.”
He opined about the shortcomings of fiat money and other cryptocurrencies, further explaining:
“What is needed is a coin disconnected from fiat currencies and from other crypto currencies alike – a coin with zero cash-in value, yet accepted universally.”
McAfee’s followers pinged him with questions about the McAfee Freedom Coin, wanting to know more details such as how they can earn a profit from it, in response to which McAfee said:
“I never said it had zero value. I said the exchange of the coin to another currency will always have zero value. You read, but I think you skimmed.”
Another follower seemed to meet McAfee on his level, first by complimenting the creator of the coin and then angling for a peek into the goods:
“Good s**t. So how does coin distribution work then? See all the ways it won’t be handled lol… So I dont want to get in on profits. I’m a data junkie sir, money comes and goes but my knowledge makes me. Can I be granted an early view at the white paper? test of my ability 2 stfu.”
John McAfee responded with, “Will reveal when [the] white paper is released.”
What we do know, based on a combination of the one-pager and what McAfee has confirmed on his Twitter feed, is that the McAfee Freedom Coin can be purchased. It can be moved between wallets but it won’t trade on an exchange such as Binance because it lacks any value against other cryptocurrencies. Like McAfee, this coin is unique.
We are all waiting with bated breath. He actually mysteriously teased the new cryptocurrency earlier today, offing a glimpse into the motivation for the coin.
The McAfee Freedom Coin is not his first crypto project. The antivirus expert is also supposedly behind a new crypto debit card. That product isn’t named after John McAfee but it features his mugshot on the front of the card.
This article was edited by Gerelyn Terzo.
Last modified: January 10, 2020 3:08 PM UTC