The founder of one of the most popular antivirus software companies, who previously made a bold prediction that Bitcoin would reach $1 million by the end of this year, continues his recently negative stance against the largest cryptocurrency. He said that Bitcoin is a real shitcoin and that the future of cryptocurrencies lies with alternative coins, John McAfee pointed out.
After recently comparing the world's largest digital asset to the popular Ford Model T because of its "old technology," McAfee continues his attacks on it. Earlier today, he went even further, calling Bitcoin the real Shitcoin.
McAfee believes that Bitcoin is an old technology that does not provide the capabilities that other cryptocurrencies and networks can offer. Up to a point, he is right. It is slower compared to other networks, and currently faces scalability issues.
[amazon box="B07V3Z9LRT"]Bitcoin remains robust, practical and secure
There are solutions for that, and many teams are working to address it. The Lightning Network is one of the most promising projects for off-chain scaling solutions for Bitcoin. And it certainly doesn't lack security. If anything, the Bitcoin network is the most secure of all others. With the hashrate regularly reaching new all-time highs, the blockchain becomes increasingly difficult to attack and take control of.
Furthermore, the data shows that no single mining organization comes close to controlling 51% of the hashrate. This suggests that mining is currently decentralized. Meanwhile, other altcoins have suffered several attacks, such as its closest competitor, Bitcoin Cash. Recently, Bitcoin Gold (BTG), a fork that also originated from Bitcoin, suffered a 51% attack.
McAfee's relationship with Crypto
John McAfee has an intriguing and controversial relationship with the cryptocurrency space and Bitcoin in particular. He was arguably the most famous member of the community with his astonishing $1 million prediction, and he has strongly backed it up on numerous occasions. And yet, it may all have been for show, as he later clarified that his words were merely "a ploy to bring in new users . "
However, his belief in cryptocurrencies in general was emphasized when he launched his own decentralized exchange. «without restrictions». Dubbed McAfee DEX, it runs on the Ethereum blockchain, and according to the former software mogul, “We have almost everything, except Bitcoin, which is the big problem”, by declaring it a shitcoin.
