[2019-06-04] John McAfee To Roll Out ‘Freedom Coin’ Cryptocurrency This Fall

[Slow death]

Yes the title is not wrong, we'll hear that another altcoin has been created to increase the number of altcoin that already exist (many of those same altcoins that already exist are shitcoins)... But there is something that led me to make this post, and the reason why I made this post it is because of this:

“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 … 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.”

Source: https://cointelegraph.com/news/john-mcafee-to-roll-out-freedom-coin-cryptocurrency-this-fall

Can anyone understand something about what they wrote?

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[CryptoBry]

I am sure of only one thing with the statement you quoted above: Only the man named John McAfee can elaborate more of what this another coin mean. Actually, the idea that the coin is not connected with the fiat money and other cryptocurrency can be good but I have a problem on how people gonna place value with it. Will it mean that the value of this coin is on a person to person basis...just like returning to the barter trade era where it is up to the parties to decide on which and how many? This actually sounds interesting but coming from John which to me has lost any good reputation within him I am really doubting if this can take off...though I am wishing it well, who knows...if Craig Wright pulled it why not our beloved John, right?

[ene1980]

Can anyone understand something about what they wrote?

A fun token to exchange with your friends and relatives and they do not have any valuation, so you can play around with it and the main reason for this is to make everyone involved in the crypto market and to understand the ease in which they can hold send and receive tokens, but what confuses me is that if it does not have any value, no exchange will allow that coin to be traded. It will be another fun project for McAfee to get some news headlines.

[Betwrong]

It is stated on the coin's official site, https://mcafeefreedomcoin.com/, that it will be "a cryptocurrency that people value for it's purchase power alone." So, basically, they want to create a currency that will have no value in relation to any other currency, but somehow(magically?) will be accepted by merchants. Well, Good luck with that!

[hatshepsut93]

Want it or not, all altcoins are tied to Bitcoin's value, and you can't change that, because Bitcoin is the biggest cryptocurrency, it's the leader of this industry, it has the network effect, all coins are mostly traded against it, and its price movements are always a signal to the whole market. This alone is enough to predict that mcafeecoin will also be tied to Bitcoin, but there are more problems - if it's a decentralized cryptocurrency, people should be able to do with it whatever they want, including trading it on exchanges, so how exactly he is going to achieve his statements about not being valued in other currency?

[davis196]

Yes the title is not wrong, we'll hear that another altcoin has been created to increase the number of altcoin that already exist (many of those same altcoins that already exist are shitcoins)... But there is something that led me to make this post, and the reason why I made this post it is because of this:

“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 … 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.”

Source: https://cointelegraph.com/news/john-mcafee-to-roll-out-freedom-coin-cryptocurrency-this-fall

Can anyone understand something about what they wrote?

This is the most stupid cryptocurrency concept I've ever seen so far.A currency with zero value will be totally useless.John McAfee doesn't know how market economy works...or he's trying to scam people,by selling them thin air...

[Vishnu.Reang]

So it looks like even McAfee is not serious about this new coin. I am not sure about his real intention behind this move... perhaps he is after the fame... or he is after some extra funds (or both). BTW, I hope that his plans for the 2020 presidential campaign is proceeding well. Don't want him to the president of the United States... but some publicity would be good for crypto.

[akamit]

“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 … 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.”

I really didn't understand his concept for this magical coin.
But McAfee is a successful businessman afaik and this coin will be his second foundation I guess. So I think he knows what he will be offering to the cryptoverse.

And for us, it's too early to comment anything positive or negative about the McAfee coin.