Bitcoin Is Ancient Technology, As Ford Model T For Cars

American entrepreneur and controversial crypto figure John McAfee, who boldly predicted that Bitcoin would be valued at $1 million by the end of 2020, has openly lashed out on the leading cryptocurrency, referring to it as an ancient technology due to several limitations. This comes as a blow, considering that he was one of the biggest promoters of Bitcoin and crypto in general over the last few years.

McAfee believes that being the first blockchain to exist does not make Bitcoin the “future.” In his opinion, there are newer blockchains with enhanced features that solve the flaws of the Bitcoin blockchain, just as the Ford Model T automobile of 1908 was replaced by more sophisticated cars.

The 74 years computer programmer and billionaire has always been an advocate of decentralization and privacy. In fact, he has spent a great deal of time on the run while preaching against central authorities like government, and as such, privacy is a big concern for him, one of the features which he believes bitcoin lacks.

“Bitcoin was first. It’s ancient technology. All know it. Newer blockchains have privacy, smart contracts, distributed apps, and more,” McAfee said in a tweet.

This is not the first time McAfee has called bitcoin outdated. In an interview with Cryptopotato from last October, he maintained the same opinion about the first cryptocurrency.

McAfee claimed that Bitcoin is only good at being a store of value and cryptocurrency, and nothing more. Besides, McAfee called the community to spend their bitcoins; otherwise, adoption won’t come true.

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Ford Model T. Image by Amazon

Bitcoin at $1 Million? Only a Ruse

McAfee is famous for his outrageous prediction that Bitcoin’s value would hit $1 million by the end of this year. He even went on to place a bet that he would eat his private part on national TV if the prediction does not come true, and many crypto enthusiasts are eagerly waiting for the event to happen in the next 12 months.

Although McAfee had stood firmly by his prediction on many occasions, including our interview with him from recent October, he said today that the $1 million bitcoin price prediction was only a trick to attract more people to the crypto space.

“Eat my dick in 12 months? A ruse to onboard new users. It worked,” he said in this regard.

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