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John McAfee bashes Bitcoin, calls it the ‘Hotmail of crypto’

By:
on Jan 30, 2020
Updated: Mar 11, 2020
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  • Vocal crypto supporter, John McAfee seemingly turned his back on Bitcoin in a recent statement on Twitter.
  • McAfee points out that BTC is old, slow, and that it lacks smart contracts or dApps, eventually calling it the real 'sh*tcoin.'
  • McAfee also said that BTC is the Hotmail of crypto, indicating that the first cryptocurrency will be replaced with a better coin in the future.

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John McAfee, the creator of a McAfee Antivirus and a known influencer in the crypto world, returned to the spotlight with another unique statement. Yesterday, January 29th, McAfee posted on Twitter in an attempt to bash Bitcoin and ‘relieve’ his followers from the BTC maximalists propaganda.

In his new tweet, McAfee says that whoever came up with the term ‘sh*tcoin’ was brilliant, but he has an issue with the fact that the term is used for describing all the altcoins. According to him, the real sh*tcoin is Bitcoin itself. He said that BTC is old, it is clunky, it lacks security, and it doesn’t have dApps nor smart contracts.

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Obviously, McAfee does not believe that Bitcoin has much to offer to the crypto world, or the real world, apart from maybe its brand and current price. In a different tweet, McAfee continued to call BTC the ‘Hotmail of crypto.’

Why did McAfee turn against BTC?

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Of course, many might find this interesting, considering that McAfee, the current Champion of Altcoins, once gave major predictions regarding the Bitcoin price. In fact, he made headlines time and time again for claiming that BTC will hit an ATH of $1 million.

However, he had a tweet that replies to this too, and it would seem that things have changed.

Naturally, these tweets sparked discussions that lasted for hours, and many were trying to determine whether there is truth to McAfee’s words. As he pointed out, Bitcoin is, indeed, old, although that is not necessarily a bad thing. It is also clunky, which is a problem. It can still only process 7 transactions per second, meaning that any user base that decides to use it simultaneously will choke it in a matter of minutes.

Further, it is also true that BTC lacks smart contracts and dApps, although it doesn’t really need them, as there is no guarantee that projects that do have them will be successful by default. However, one aspect where McAfee is most certainly wrong is that BTC lacks security. BTC is more secure than any other crypto in the industry, and many altcoins use it to back up their own blockchains, which speaks volumes on the subject.

Even so, McAfee may be right when it comes to other points.

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