John McAfee Announces New Freedom Coin

No story about cryptocurrency is complete without mentioning John McAfee. The septuagenarian is most well known for his famous anti-virus software company though over the previous several years his name has become more synonymous with cryptoeconomics.

He is flamboyant and often downright bizarre and currently considers himself on the run from the US government. He is known for a famous proclamation that Bitcoin will reach $1,000,000 or he will eat his own male appendage. He often is seen shilling coins.

Today he announced a new coin to be launched in the Fall. This will be a coin of his own making, the first such coin. It shall be called the McAfee Freedom Coin, and its website gives a general overview.

A key descriptor is as follow:

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.

McAfee appears to be taking on the problem of coins having fluctuating valuations against other currencies just as the USD or BTC. Here he is proposing a currency that is independent.

On his Twitter feed he goes on to mention a few more salacious details:

No it is is not mined. No, we are not doing an ICO. No, we are not looking for investors. No, we will not be listed on an exchange. No, we will give no more information before release of white paper. Yes, this is real… Also, there will be no airdrops.

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