The eccentric entrepreneur, John McAfee has courted controversy again in a tweet in which he alluded to Bitcoin as “shitcoin’’. This is a term that is used within the cryptocurrency community to describe coins that have little or no value, especially in terms of utility.
Whichever Bitcoin Maximalist came up with the term “Shitcoin” for all other coins;
— John McAfee (@officialmcafee) January 29, 2020
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.
McAfee who in a tweet stated that altcoins are actually the future of cryptocurrency inferred that Bitcoin is overrated since it doesn’t possess features such as smart contract that enables developers to build dApps. He alleges that the coin has no security and used other adjectives such as “old and clunky”
In the tweet, he wrote:
“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.”
It is not clear why McAfee is beefing on Bitcoin which has seen a good run so far this year in terms of price. This is currently the best January for BTC in 7 years as the coin is trading above $9000 at the moment.
