Skycoin is a project described by TNW like this: “… Enter Skycoin, the sounds-to-good-to-be-true coin with so many problems its likelihood of being a scam is somewhere between “probably” and “even more probably.
… So is it a scam? I’m 99 percent sure of it.
… It looks like a pre-mined ICO that’s waiting for a good time to… fail. We won’t mention the words “exit scam,” because the company is built on the back of its Skyminer hardware. All it has to do is keep convincing people to shell out $10,000 for magic beans (in the form of Skycoin) and all will be well in the mysterious world of Skycoin.
We’ll end this with the same words Skycoin COO Bradford Stephens used to end our conversation with him:
At the end of the day, cryptocurrency is one helluva ride.”
On the other side, John Mcafee is notorious for his polarizing and confounding personality in the IT world. But in the crypto world, he is an established shitcoin shiller that overtly pumps worthless altcoins for a fixed price, that varies depending on the package you pick. As this websites explains: McAfee has influence, something that is evident when we look at a relatively unknown coin called Verge. Verge (XVG) was worth $0.000019 at the beginning of 2017, but by the 20th December it had hit $0.1637. Its market cap grew from $246,300 to $2.41 billion. From peak to trough, Verge saw a price increase of nearly 2,000% in a matter of days. Had McAfee not mentioned Verge in his initial tweet, evidence suggests there is a strong possibility that the coin would have continued to ride out it’s days.
When McAfee meets Skycoin
As this Medium article describes, “McAfee’s most interesting appearance was a short conversation called ‘Dark Side of the Chain’ with Brandon ‘Synth’ Smietana, the lead developer of a relatively obscure project called Skycoin.
Whether this was a paid shilling or an organic discussion slot is unclear. The conversation was low key— Skycoin wasn’t mentioned once. McAfee and Brandon traded war stories on kidnappings, arrests and running international borders.”
However, McAfee did went to his favorite weapon, his Twitter account to tweet about the Skyminer.
“It is a box containing 8 Orange Pi computing boards and a router framed by perspex and aluminum . The Skycoin team called it a Skycoin Miner or ‘SkyMiner’ and eventually gifted it to McAfee.
It turns out that this device processes bandwidth on a new incentivized MESH net internet protocol called Skywire. Rather than computing hashes like traditional mining, its 8 CPU boards encrypt and decrypt information packets, operating in parallel to receive and forward internet traffic. For Skycoin, the purpose of mining is not security of the chain or creation of new blocks, but contributing useful computing power to a different type of distributed network.”
As the author of the article puts it “ there doesn’t appear to be any other altcoin projects with a comparatively ambitious vision of how blockchain and digital currencies fit into the current technological paradigm.”
However, if crypto thought us anything, it is that the space is full of dreamy amateurs and greedy scammers whose actions usually end in the same manner: a merciless pocket draining of gullible crypto buyers.
Oh, and the epitome of the trashy relationship is on the image below: the new love between Skycoin and McAfee culminated with a Skycoin tattoo on John’s back as the ultimate token of affection between McAfee and his newest shitcoin.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com