“Bitcoin is the real shitcoin,” John McAfee strikes again

  • Software entrepreneur John McAfee struck another blow to Bitcoin with a controversial statement and the designation as a “shitcoin”.
  • Both Bitcoin and the Altcoins are in a sustained upward trend.

Guru and software entrepreneur John McAfee is one of the most controversial figures in the crypto community. In another attack on Bitcoin, McAfee claimed that the number one cryptocurrency by market capitalization is the “real shitcoin”. McAfee posted his statements via his Twitter account, referring to a term otherwise used by Bitcoin maximumists for Altcoins. McAfee said:

Whichever Bitcoin Maximalist came up with the term “Shitcoin” for all other coins; Was brilliant. But we all know that the future of Crypto rests with the Alt Coins. Bitcoin – Old, clunky, no security, no smart contracts, no DAPs (….) Is the true Shitcoin.

However, last year McAfee had a different attitude towards Bitcoin. The entrepreneur was one of the most bullish members of the crypto community and went so far as to say that Bitcoin would reach a price of $1 million by the end of 2020. According to McAfee, it was “mathematically impossible” that a BTC would be worth less by the end of 2020. The software developer then made one of the most famous bets in the crypto industry, saying that if his prediction did not come true, he would eat his genitals. The developer even raised his prediction to $2 million a little later.

McAfee called off the bet earlier this year, saying his earlier statements were just a ploy to get more users into the crypto market. The software developer said:

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.

McAfee bets on Ethereum and Monero

For the software developer the future of the ecosystem lies in the Altcoins. On previous occasions he said that the Ethereum is the most important platform in terms of smart contracts and that Monero should be used for privacy. This was the beginning of McAfee’s support for the altcoins that he has been maintained until now.

In its most recent attack on Bitcoin, a user challenged the claim and demanded that McAfee should provide evidence to support that the future of the market lies in fact in the Altcoins. McAfee responded:

Have you been living in a cave?

Ethereum is only one of dozens of chains that support smart contracts.

Better to stay silent and be thought a fool Than to speak and remive all doubt.

In the meantime, the prices of the most important altcoins as well as Bitcoin are still rising. In the last hours there have been some important movements: Cardano returned to the top 10 cryptocurrencies by market capitalization, Ethereum recorded a significant increase of 31.80% in January while Bitcoin SV rose by 190%, although the trend on the weekly chart is downwards. On the other hand, Bitcoin is traded at $9,402.13 at the time of writing, with a gain of 3.85% in the last 24 hours.

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Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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