In a tweet posted yesterday, Altcoin enthusiast and eccentric anti-virus mogul John McAfee criticized Bitcoin and called it the ‘true shitcoin’.
He added that Bitcoin was an ‘old’ technology which lacked the key features pertaining to security, DApps and smart contracts that other cryptocurrencies can boast of.
Whichever Bitcoin Maximalist came up with the term "Shitcoin" for all other coins;
But we all know that the future of Crypto rests with the Alt Coins.
Old, clunky, no security, no smart contracts, no DAPs ….
Is the true Shitcoin.
— John McAfee (@officialmcafee) January 29, 2020
This is not the first time that McAfee has criticized Bitcoin. Earlier this month, the crypto pundit stated that while Bitcoin may have been the first, it could only be considered an ancient technology today. “Newer blockchains have privacy, smart contracts, distributed apps and more,” he added, comparing the crypto to Ford’s Model T.
Eat my dick in 12 months?
A ruse to onboard new users. It worked.
Bitcoin was first. It's an ancient technology. All know it.
Newer blockchains have privacy, smart contracts, distributed apps and more.
Bitcoin is our future?
Was the Model T the future of the automobile?
— John McAfee (@officialmcafee) January 5, 2020
McAfee’s anti-bitcoin tweets took the crypto community by storm as the controversial tycoon did a 360 from his infamous $1 million Bitcoin price prediction.
In an interview with Forbes, the crypto expert defended his bold prediction that Bitcoin would hit a value of $1 million by the end of 2020 on the basis of the cryptocurrency’s capped supply. McAfee argued that if Bitcoin accounted for even 5 percent of the world’s total financial transactions – and he was confident that it will – then one Bitcoin would be worth $10 million.
Based on this logic, McAfee added that his prediction was in fact fairly conservative.
However, he now believes that Bitcoin is not where the future lies. Instead, the software pioneer is now an altcoin proponent and has spoken in favor of several alt cryptos like Docademic and Apollo Monero.