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

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

Published

on

Aluna.Social
READ LATER - DOWNLOAD THIS POST AS PDF

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

Continue Reading

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Elite