Hi, All.

I’ve been following John McAfee on Twitter, and his Coins of the Day seem to pump in value. But, is the pump natural or artificial? Are they good and safe short-term trades?

His recent call is a coin called HumanIQ (HMQ). I’m considering it as a short-term trade because bitcoin is currently crashing alts, so it’s price might as well be at an all-time low.

Here’s his tweet:


McAfee HMQ

McAfee shilling HMQ.

Does HumanIQ Have Good Fundamental Price Potential?

Here’s what HumanIQ purports to do: Giving a helping hand to emerging economies (poor countries) where people don’t have access to banks. You gain access to your HMQ account by face and voice recognition rather than formal documentation.

The website looks impressive, but most of the home page sounds a lot like clever use of blockchain’s general features to make it sound like something new. And I glared at the zero fee transactions because, you know, in blockchain tech, you never have to pay fees – right? RIGHT? Not like bitcoin isn’t charging $20 per transaction or anything like that – not like there wasn’t a large-scale war between bitcoin and bitcoin cash about fees or anything.

Okay, so maybe they’re trying to pull our legs a little. Or maybe I just don’t understand enough about their coin yet. But I’ve never heard of a coin with zero fees, have you?

Let’s see if they have some kind of redeeming qualities…

HMQ’s CEO is Alex Fork. His LinkedIn says only 1 person has recommended Alex Fork. I’m pretty sure that’s gotta be some kind of red flag. His history only goes back to 2013 – my goodness, I don’t care if their whitepaper is spotless. Jump ship now. McAfee are you crazy?

Let’s glance through their whitepaper anyway:

The whitepaper starts off posing real world problems, but answers with generalized blockchain technology solutions – nothing unique to HMQ, for the most part.

There’s no real roadmap for 2018, so I need to find an updated roadmap on their twitter.

I haven’t found an updated roadmap, but I’ve become impressed with their actual efforts. They have people traveling to Africa to spread awareness about their cause. Makes the company behind the coin seem more legit.

I’ve found their roadmap. It hasn’t been updated since July 2nd. https://trello.com/b/xax1RSN8/humaniq-roadmap

The “completed” field is blank, which means they haven’t completed any of their milestones?

I’m probably a novice cryptoresearcher, but I wouldn’t put any significant money into a coin with an iffy roadmap and whose CEO only has four years experience.

Is HumanIQ Good for Short-term Trading?

Okay, so despite a not-so-great-looking fundamental analysis, can I still make some kind of gains by daytrading HMQ?

At the time of writing this post, HMQ’s price is around B0.00003454. If you scroll back weeks and months before today, HMQ’s price barely made it past B0.000012 to B0.00002. There seems to have been a jump in price to B0.00009 because their twitter was hacked (again, how good is their company if their twitter got hacked) and tweeted a fake AT&T partnership.

B0.00003 is already a miracle, and most probably a result of McAfee’s viral tweet.

If I bought HMQ right now, it would be pure gambling on uncertain upcoming news that I’m not sure is even coming out. Or it would be a gamble in seeing if McAfee’s followers took a break from crypto for the holidays, then would check his tweet and go buy HMQ to pump the price.

My decision is not to go into HMQ. This may change if it drops to entry levels at B0.00001.

Do not follow me or rely on my word for your own crypto trading. This is not investment advice – it’s a blog post about my own adventures in trading cryptocurrencies. If you choose to copy my decisions, you do so at your own potentially probable financial peril. I’m not an expert in cryptocurrency trading and do not purport to be.