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Antivirus software pioneer John McAfee has recently come into the crypto limelight (again) for an announcement he made on Twitter. The famous ‘crypto freedom lover’ John McAfee tweeted his plan to launch a digital coin which, according to him, will be totally different from other cryptocurrencies and that it will also bears his name, “McAfee Freedom Coin.”
In the crypto community, McAfee is known for his optimistic views of Bitcoin and other cryptocurrencies. Previously, he had made many positive statements and predicted that Bitcoin would be worth around $50K in the near future. As per his announcement, the new virtual coin will be called ‘McAfee Freedom Coin.’ The details regarding the upcoming coin are available on the website he tweeted.
A longtime cryptocurrency advocate and 2020 presidential candidate (at least in theory) McAfee believes that the virtual coin is designed to achieve what he calls “the Holy Grail of cryptocurrency – economic freedom.” As per stated in his website, McAfee Freedom Coin will set a new definition of cryptocurrency with the goal of establishing “a cryptocurrency that people value for its purchase power alone.”
According to McAfee cryptocurrencies have failed to achieve their ultimate aim of creating a decentralized payment system which is faster and cheaper; they will also keep on failing in their goal of creating economic freedom until there’s a digital coin that is “disconnected from fiat currencies and from other cryptocurrencies alike – a coin with zero cash-in value, yet accepted universally.”
The McAfee Freedom Coin Is Not a Minable Cryptocurrency; No ICO
McAfee is planning to launch his cryptocurrency in the autumn of this year. He said that investors and miners will not be attracted to his coin as there will be no ICO and they will not be minable. No official whitepaper has been released yet. The only information that can be currenctly found is presented on the cryptocurrency’s website, that is most likely written by McAfee himself.
The website makes several claims regarding McAfee Freedom Coin:
The McAfee Freedom Coin is not, by any means, a technology breakthrough – the coin’s makeup is trivial and there is nothing new in it. The uniqueness comes from a new approach to understanding the evolution of cryptocurrency and the mechanisms that have kept the Holy Grail of cryptocurrency – economic freedom – out of our reach.
The McAfee Freedom Coin is not, by any means, a technology breakthrough – the coin’s makeup is trivial and there is nothing new in it. The uniqueness comes from a new approach to understanding the evolution of cryptocurrency and the mechanisms that have kept the Holy Grail of cryptocurrency – economic freedom – out of our reach.”
Apart from being not minable and absence of ICO, the virtual coin will also not be traded on any centralized exchanges. However, McAfee said nothing about decentralized exchanges.