BTC is ancient technology, similar to the Ford Motel T car from 1908 as per the entrepreneur and controversial John McAfee who has been the center of our bitcoin news plenty of times.
McAfee already predicted that bitcoin will be valued at $1 million by the end of 2020 but he has now trashed the benchmark cryptocurrency saying that BTC is ancient technology because of its limitations. He believes that being the first blockchain to exist does not simply make the crypto the only future. In his words, there are a lot of new blockchains that have improved and enhanced features that aim to solve the flaws of the Bitcoin blockchain just as the ford model was replaced with much more sophisticated cars.
The billionaire has always been an advocate for decentralization and privacy and he spent a lot of his life running while preaching against central authorities such as governments so privacy is a big concern for him as one of the features which he believes Bitcoin doesn’t have:
“Bitcoin was first. It’s ancient technology. All know it. Newer blockchains have privacy, smart contracts, distributed apps, and more.’’
However, this is not the first time that the controversial crypto figure called out Bitcoin and claimed that it is outdated. In an interview before in 2019, he had the same opinion about the number one cryptocurrency. He claimed that bitcoin is only good as a store of value and cryptocurrency and nothing more. Also, McAfee called the community to spend their coins since adoption won’t come true ever.
McAfee is also popular because of his insane prediction that Bitcoin’s value would hit $1 million by the end of the year. He went on to place a bet that he would eat his private parts on national TV if the prediction doesn’t come true and many of the crypto enthusiasts are waiting for the event to happen over the course of next year. Although he had stood his ground about his predictions on many occasions, he said that the $1 million bitcoin price prediction was only a trick to attract more people to get to the crypto space, as he said:
“Eat my d**k in 12 months? A ruse to onboard new users. It worked.’’
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