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

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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!

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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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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