Connect with us

Blogs

McAfee Coin: John McAfee, to launch his ‘very own’ crypto coin

Published

on

McAfee coin
READ LATER - DOWNLOAD THIS POST AS PDF

One of the particularities of the crypto sphere is that in many cases it is moved by the opinions of experts of the industry, people that generally are associated with the finance world and have a strong influence in the community. The views of these figures in several occasions lead to a reaction of the cryptocurrency users, which at large end up either favoring or causing harm to a particular coin.

In this matter, one of that figure without a doubt is John McAfee, the businessman behind the McAfee company, an organization providing cybersecurity solutions for the industry since 1987. Mr. McAfee is not affiliated to the McAfee antivirus by any means now, though.

John is characterized being an active influencer in the crypto world, who even widely benefits specific coins in the industry by just commenting his thoughts on them over his Twitter account. There are speculations that McAfee has managed to make changes in the industry of more than 100,000 USD, the fact that proofs how influential he is for the crypto world.

In this sense, it all seems to the point that Mr. McAfee is not planning to change its presence in the virtual coin market, in fact, he recently gave declarations on his Twitter account stating that in 26 (24 now) days the sector would see the launch of his coin.

It’s predicted this coin would be actually printed so that it will be a physical asset in the form of fiat but backed in crypto. Let’s see how it goes!

The McAfee crypto backed currency

A couple of ago McAfee published on his Twitter account the first clues on what it will be the coin he will launch in 26 (again, that means 24 now) days. Although he didn’t share that much of a detail, he said,

Even with the short description, McAfee accomplished to seek our attention already, and the truth is several expectations are now put on the project. Counting on his influence in the industry we cannot be less than sure this will be an important invention for the crypto sector.

Just recently, McAfee sent out another Tweet in which he gave an interview to Crypto-News.in to explain a little further how will the coin work, but he specified that the community would have to wait until the 25th of June to get all the details of the project.

The initial idea how McAfee Coin is going to work

In an exclusive interview to the Crypto-News.in, the 72-year-old businessman said,

“A coin identifier or list of coin identifiers is distributed with the note as a separate, collectible document – a paper wallet. It is expected that this paper wallet will be then stored in a different location from the note. None of the coins are initially “activated” however.”

McAfee further continued,

“Coins become activated if and when a note holder chooses to “convert” his or her Fiat note through a process of reverting the note(s), through the mail or other means, to the MRU Foundation – the organization responsible for archiving and caring for the physical notes. There may be a processing fee for conversion.”

With this, we have a clear perspective that John McAfee is very committed to the crypto industry and its development.

In fact, not so long ago, McAfee, the crypto dad (yes, that’s how people call him now), tweeted a video in which he notes his message regarding the war between banks and cryptos.

As per the tweet, he called on the community to require banks the possibility to buy cryptos using their platforms; the fact that he suggested should come along with a threat of switching to other banks on the contrary case.

Conclusion

As McAfee himself published, we will all have to wait until next June 25th to get the final details, but for this moment the project looks bright and exciting. If it all goes as expected this will be another success for the nick-named crypto dad. So stay tuned!

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Wikipedia Commons

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

Continue Reading

Altcoins

Top 3 Coins to Buy Before They Go Big

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

Continue Reading

Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

Published

on

crypto credit cards
READ LATER - DOWNLOAD THIS POST AS PDF

It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

Continue Reading

Elite