Antivirus software pioneer John McAfee has recently come into limelight for his announcement he made on Tweeter. The famous ‘crypto freedom lover’ John McAfee tweeted his plan to launch a coin which is totally different from other cryptos and that also bears his name. John McAfee, in the crypto community, is known for his optimistic views regarding Bitcoin and other cryptocurrencies. Previously, he had made many statements and predicted that Bitcoin would be worth around $50K in the near future. As per his announcement, the new coin will be called ‘McAfee Freedom Coin.’ The details regarding the upcoming coil are available on the website he tweeted.
A longtime cryptocurrency advocate and 2020 presidential candidate McAfee believes that the coin is designed to achieve what he calls “the Holy Grail of cryptocurrency – economic freedom.” As per stated I 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 his cryptocurrencies have failed to achieve its ultimate aim of creating a decentralized payment system which is faster and cheaper and its goal of creating economic freedom until there’s a coin that is “disconnected from fiat currencies and from other cryptocurrencies alike – a coin with zero cash-in value, yet accepted universally.”
McAfee is planning to launch his coin in autumn this year. He said that the investors and miners will not be attracted to his coin as there will be no ICO and they will not be minable. Neither official whitepaper has been released yet. The only information you will be able to find is presented on its website that is most likely written by McAfee.
The website claims that McAfee’s cryptocurrency will be that coin:
“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 its natural market value is free, completely, to grow.
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 coin will also not be traded on any centralized exchanges. However, he said nothing about decentralized exchanges.