John McAfee, the English-American security pioneer and cryptocurrency enthusiast, has announced on Twitter that he is set to launch his own independent cryptocurrency coin, the “McAfee Freedom Coin”.
A one-page website is released for the McAfee Freedom Coin, announcing that the coin is coming in the fall of 2019. There is also a statement by John McAfee, saying among others:
The world of cryptocurrency has been hoping for a crypto equivalent of the above paradigm – a cryptocurrency that people value for it’s purchase power alone. The reason such has not occurred is that all goods and services cannot yet be purchased with cryptocurrency, so the currency holder must exchange with a currency that is accepted for what they want.
This leaves the value of the currency, not in the hands of the users and suppliers, but in the hands of a market whose mechanisms operate through fear, greed, manipulation and the vagaries of external economic conditions. These conditions, in most cases, seldom relate to the economy of the coin in question. The use of a specific coin is therefore subject to the whims of an artificial construct that controls the cryptocurrency usage.
Until this requirement for exchange is obviated, the crypto universe cannot succeed in attaining its goal of economic freedom. 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. 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.
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.
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29 October 2020