Bitcoin, the best crypto? The answer to this question was great a few years ago. But since then, a lot has changed and opinions are mixed to the point that some, bitcoin is just the worst cryptocurrency.
What Justin Bons thinks about bitcoin
Bitcoin is the most popular crypto and the one with the highest market capitalization. However, according to Justin Bons, founder and chief investment officer of the fund CyberCapital, this asset is “technically one of the worst cryptos”. To the expert, it would be just a speculative and useless asset. Its security model, its weak programmable and non-scalable nature and its weak economic qualities are the arguments it used to support its position.
Having created one of the oldest cryptocurrency funds in Europe since 2016, Bons is certainly not unknown to the crypto community. It also runs nodes on the Bitcoin and Bitcoin Cash networks. So we can say that he knows what he is talking about. And while he was in charge of bitcoin in 2014, he claimed that is no longer the case. However, bitcoin has strayed from its original vision and goals, and has failed to progress and develop compared to its competitors. In this regard, this is what he says:
” The world has also evolved and progressed. I remember it being said that BTC would only accept the best technologies. This thesis is clearly a complete failure since BTC has no smart contracts, privacy technologies or scaling ones. »
And it continues: The economic qualities of BTC are also extremely weak, BTC competes with cryptocurrencies that can achieve negative inflation due to fee burning, high capacity and high utility like post-merger ETH and alternatives like AVAX, NEAR and EGLD. »
For all these reasons, Bons firmly believes that bitcoin is nothing more than a speculative asset.
Bitcoin is said to be one of the worst cryptocurrencies. This is a statement with enough to warrant more than one posting! And yet it is irrelevant if we consider the various arguments raised by the author. Besides, Bons isn’t the only one who thinks so…
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and pass my pen knowledge related to this ecosystem.