John McAfee Goes After Bitcoin Saying It’s The True S**tcoin

John McAfee goes after bitcoin again years after he made the bold prediction that Bitcoin will reach $1 million by the end of 2020 so let’s see what he had to say further in the bitcoin news now.

The founder of the most popular antivirus software company said that Bitcoin is the true shitcoin and that the future of cryptocurrencies is only with the alternative coins. After comparing the largest digital asset with the oldest model of Ford T card because of its ‘’ancient technology’’, John McAfee goes after bitcoin again.
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He believes that Bitcoin is an ancient technology that cannot provide the capabilities that other cryptocurrencies and networks can do.

If we reconsider, bitcoin is slower compared to some of the other networks and is facing the scalability issues as well. There are solutions for that and a lot of people are working hard on handling it. The lightning network is one of the best ideas as Bitcoin’s off-chain scaling solutions but there’s still a lot to be done. However, Bitcoin is not lacking security. The network is the most secure among the other coins and now with the hashrate charting new all-time highs on a regular basis, the blockchain becomes harder to attack and to take control over.

The data shows that there’s no mining organization that is coming close to controlling 51% of the hash rate which only suggests that mining is currently decentralized. He outlined that Bitcoin is ancient technology a few months ago and he noted that ‘’as a store of value and cryptocurrency, it’s the standard and it’s still going to be worth a fortune.’’ John McAfee has been controversial and has a weird relationship with the cryptocurrency space, mainly with bitcoin.

He was most famous in the community with the $1 million prediction to which he stood firmly many times. It may have all been a show for him as he later clarified that his words were only ‘’ a ruse to onboard new users.’’ His belief in crypto was outlined when he launched his own ‘’no-restrictions’’ decentralized exchange which runs on the Ethereum blockchain but the platform still doesn’t support Bitcoin.