Categories

Bitcoin is “One of the Worst Cryptocurrencies,” according to the founder of Cyber Capital

Bitcoin is One of the Worst Cryptocurrencies according to the founder of Cyber Capital

In his capacity as both co-founder and chief investment officer of Cyber Capital, Justin Bons has criticized Bitcoin as “one of the most worthless and worst cryptocurrencies” due to its lack of technological advancement. Among the many adjustments implemented this week in the cryptocurrency market are a precipitous drop in market capitalisation and a widespread reddening of cryptocurrency prices.

As the shift that is going to change the momentum of the crypto market’s price approached, the speculative nature of the crypto analysts and other personnel with a deep interest within the crypto market is to blame for spreading rumors that the corrections and the bear market would soon be over and the whole thing would be exchanged with the bullish market.

Many cryptocurrencies, Justin claims, have experienced significant modifications in recent years, including a number of security and technological enhancements that have improved their functionality and expanded their potential applications.

This indicates that these cryptocurrencies are legitimate in light of the most recent developments in blockchain technology, while Bitcoin is stuck in its ways and is essentially dormant.

Bitcoin has not undergone any significant modifications in the past, and its consensus mechanism has not shifted from proof of work to proof of stake. At the very least, Bitcoin should have adapted to the changing times by switching from proof of work to proof of stake, but this has not happened.

Holding Bitcoin as an Investment

Newer updates and upgrades to Cardano and Ether are coming in September, and they will present the world with a more exciting and clever manner of investing in cryptocurrency as well as using the platform for a wide variety of other purposes.

Ether gives a lot of functionality and feasibility, making it possible to establish NFTs, smart contracts, and even your own crypto tokens, whereas Bitcoin just serves as a store of value.

Orizu Augustine
Orizu Augustine is an experienced crypto writer working for Alltechcraft. Having passion for writing, he covers news articles from blockchain to cryptocurrency and iPhone and Samsung related articles.