John McAfee has been one of the most controversial names when it comes to the world of cryptocurrencies. He has been involved in a number of scandals - including allegations of him charging millions of dollars to ‘pump’ currencies by promoting them on his Twitter account. Controversy’s poster child John McAfee is at it again - as he now claims to launch McAfee Redemption Units - a fiat currency backed by cryptos.
There are very few people who you’d believe could make such a statement and get away with it - and John McAfee is certainly one of them. Seen by some as an eccentric genius and by most as a quixotic personality, John McAfee tweeted that he will soon launch a collectible fiat currency which will carry value in terms of crypto prices. Here’s McAfee’s tweet describing his plans:
“What’s odd is that tomorrow night I am going to make an announcement of the new “McAfee Coin”, based on a radical new concept: Fiat currencies (collectible) backed by crypto – the reverse of what banks are attempting. Seriously.”
While it is a complete possibility that McAfee may be trolling his followers - he did share some images of this currency notes with various denomination.
The 1 McAfee Redemption Unit currency note showcases McAfee standing with five women
The 5 McAfee Redemption Units currency note features McAfee alone
The 10 McAfee Redemption Units currency note features Jihan Wu, the Bitmain co-founder
The 20 McAfee Redemption Units currency note features entrepreneur Brock Pierce
The 50 McAfee Redemption Units currency note features Roger Ver, Bitcoin Cash evangelist
The 100 McAfee Redemption Units currency note features McAfee wearing a tie with no shirt
The 500 McAfee Redemption Units currency note features McAfee standing with his wife.
While there have been no further details about the product, McAfee claims that the McAfee Redemption Units will launch in 26 days. It can be assumed that each of these notes carries a value in cryptocurrencies and can be exchanged (or redeemed) to get cryptocurrencies. McAfee is cashing in on his popularity and controversial image with this new product.
However, going by his past - this might just be something McAfee is doing to get some attention on social media. Only time can tell if these McAfee Redemption Units actually become a thing.
In addition to introducing this fiat currency backed by cryptocurrencies, McAfee also stated that ‘a war is coming’. He continued, saying:
“Banks have already declared war on us by denying us the ability to purchase crypto with credit cards. One of the opening statements rings true with many since the credit card blockade four months ago. US and UK banks first initiated a ban and many exchanges implemented disproportionate fees by classifying credit card purchases as cash advances.”
McAfee’s controversial statements, as well as his involvement with pump and dump schemes, have ruined his credibility and goodwill. It would be interesting to see if these McAfee Redemption Units come out into the markets - and how successful they are.