John McAfee Calls Bitcoin A Shitcoin

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John McAfee is pulling no punches in his new crusade against Bitcoin Core. The presidential candidate and fugitive made his views plain on Twitter this week.

Bitcoin: Shitcoin?

McAfee has previously said negative things about Bitcoin’s future. Our own Alex Meears agrees with McAfee, to an extent.

The septuagenarian computer security mogul has previously been a massive supporter of Bitcoin, once pledging to eat his own member if its price didn’t reach $1 million by the beginning of 2020.

McAfee, of course, did not follow through on his promise.

McAfee may be down on Bitcoin, but not cryptocurrency generally.

He has previously supported a cryptocurrency connected to many known scams, Bitcoiin2g. Lately we haven’t heard much about that.

McAfee is obviously not the only person who believes that the future of cryptocurrency is more than just Bitcoin.

In reality, Bitcoin’s actual role may be in liquidity for the rest of the crypto market. Bitcoin itself is now more capable of launching tokens and decentralized applications, but other chains such as Ethereum and EOS also have ways to access the liquidity of Bitcoin markets.

Liquidity is the key to the game when it comes to Bitcoin’s dominance.


Twitter users responded with expected vigor to McAfee’s statements.

Most who believe in a multi-blockchain future don’t see a need to denigrate Bitcoin. Bitcoin, as it is, is probably fine. Other blockchain projects can fill the gaps. Besides the public blockchain projects like Tron and Ethereum, there’s a range of “enterprise” blockchain companies that provide blockchain services to others.

As an industry, the blockchain is blooming, but there’s little directional pulse at the top. Instead, there are a multitude of different blockchain architectures, and no centrally unifying elements besides the exchanges where they all rely on Bitcoin’s liquidity.

John McAfee can say what he wants about Bitcoin. It’s definitely not going anywhere. Perhaps his claims about it now can be taken as seriously his previously claims about it hitting $1 million? The $1 million Bitcoin requires a lot more than a few decent market cycles, after all.

McAfee may be right about the psychology of the word “shitcoin,” but he’s probably not right about applying the term to Bitcoin. Bitcoin proper is the most liquid, and sought after, cryptocurrency in the world. That’s why its price continually goes up. You can’t necessarily say that about altcoins, especially those whose price rises in relation to their Bitcoin value.