Bitcoin (BTC) has been declared dead 452 times. If it dies, A Token Like My Freedom Coin (MFC) will definitely replace it

In its short lifetime, Bitcoin has had 452 online obituaries. Each of these obituaries was a message that Bitcoin was a “ponzi” on life support, following its premeditated path to zero value. Bitcoin’s price has fallen over 50% so far this year, and the bear market seems to be only heating up.

Berkshire vice chairman Charlie Munger has been the fiercest critic of cryptocurrency in general, saying “In my life I try to avoid things that are stupid, evil and make me look bad compared to someone else… and bitcoin does all three.Munger said bitcoin would likely go to zero, evil because it undermines the role of the Federal Reserve, and makes the United States look foolish.in relation to the Communist leader of China” which effectively moved to ban bitcoin.

On the internet, the phrase “Bitcoin is Dead” is also getting more and more attention. According to Google Trends data, after BTC fell below the $18,000 threshold, online searches for “Bitcoin dead” hit an all-time high.

New crypto projects have been built specifically to prove Charlie Munger wrong

Whether Bitcoin is dead now or will be in the future, a new crypto project has taken Munger’s erroneous prediction, turned it on its head, and nailed it to the wall.

Berkshire Hathaway is a big proponent of diversification, solid financial fundamentals and defensible moats. In the absence of direct investment in a company through owning stocks, both Munger and Buffet recommend ETFs (exchange-traded funds), which buy a number of stocks at once, and dividend stocks, which generate continuous passive income.

However, a new breed of web 3.0 projects has risen from the icicles of the crypto winter. They have designed features that mimic the features praised by Berkshire Hathaway and have learned from failed projects such as the recently deceased Terra (Luna). One particularly notable idea taken from the crypto ice age is the innovative project called My Freedom Coin (MFC).

What exactly is My Freedom Coin?

My Freedom Coin (MFC) is marketed as the first user-owned DeFi software platform of its kind, offering investors steady growth and access to a crash-proof crypto-asset.

MFC is referred to as a “stock-like cryptocurrency” because it is designed to be crash-proof without the volatility of other projects that sit on different blockchains. It has a built-in protection mechanism that prevents it from falling below the floor price, a concept discussed later in this editorial feature.

The MFC project sets a minimum price for its initial token by setting up a treasury of BUSD stablecoin assets – sufficient at any given time to buy back all MFC tokens in circulation. Like many DeFi tokens, My Freedom Coin operates on the Binance Smart Chain which has exploded in popularity. All transactions carried out on the network contribute to the coin’s increasing value.

MFC is a multifaceted project, with composite elements that make it truly innovative. A pillar is the trading platform and bank account for crypto and DeFi investors.

While interesting, it is not the project’s most profound innovation.

What makes MFC unique among cryptocurrencies?

My Freedom Coin’s “Zero Liquidation Risk” makes it unique from other DeFi (unlike Celsius which currently owes users $4.7 billion, a bankruptcy filing reveals). Investors in this space have seen what can happen when a project is poorly designed, with Celsius and Terra (Luna) being prime case studies in liquidation risk consequences.

MFC rewards users for referrals and contributes to the network effect. A small fee is added to all peer-to-peer MFC transactions by the protocol. This causes the offer to go down and the “floor price” to go up. Investors who own tokens benefit from this because it makes the asset more stable and valuable.

In addition, the protocol enables users to directly benefit each other through transaction fees, exchange fees and loan interest. This changes how the traditional lending systems work and brings all the benefits to holders of MFC.

Should MFC be part of a diversified cryptocurrency portfolio?

Analysts are excited about MFC not just for its “crash-proof” innovation, but because of the team behind it. MFC is free to download via the website on iOS and Android. Interested parties can use the code ‘CXPMGOSKJT’ to join the platform.

The Tokenomics are also interesting, with a monthly fee of $50 funding a deflationary “BuyBack” program, split 10% to benefit demand-generating purchases of the MFC token and 90% used to fund the referral bonus community program.

The project buys its own tokens to remove them from circulation, causing the floor price to rise. Essentially, the $50 fee is fully reinvested in the project, which is a governing principle that should be emulated by other crypto projects. For the first 10,000 holders, the fee is $0 and will increase by $5 for every 10,000 users until it reaches $50. 90% of this fee is distributed in a referral program to help grow the ecosystem, and 10% is used in the buyback protocol to increase the base price.

MFC members are rewarded when invitees use the exchange. Users are encouraged to spread the word about the project through this multi-level referral program.

Analysts believe that MFC could be the type of coin to dethrone Bitcoin

BTC isn’t going anywhere, despite its fall from grace and pundits predicting it could serve as a hedge against ongoing inflation. However, My Freedom Coin with the principles of “Base Price” and “Zero Liquidation Risk” should comprise at least part of a well-diversified crypto portfolio. Analysts say it is innovations like MFC that will bring crypto back to life and serve as a catalyst for the next bull run.