{"id":66422,"date":"2022-08-29T13:41:33","date_gmt":"2022-08-29T10:41:33","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66422"},"modified":"2025-09-07T01:14:43","modified_gmt":"2025-09-06T22:14:43","slug":"cyber-capital-founder-calls-bitcoin-one-of-the-worst-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cyber-capital-founder-calls-bitcoin-one-of-the-worst-cryptocurrencies\/","title":{"rendered":"Cyber Capital founder calls Bitcoin &#8216;one of the worst cryptocurrencies&#8217;"},"content":{"rendered":"<p>Due to the absence of technological progress, Bitcoin is &#8216;an exclusively speculative asset without utility&#8217;. This was stated by Justin Bons, founder and Chief Investment Officer of Cyber Capital.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/11) BTC is unique in that it is technically one of the worst cryptocurrencies<\/p>\n<p>It has a broken long-term security model<\/p>\n<p>It lacks capacity, programmability &amp; composability<\/p>\n<p>With comparatively weak economic qualities<\/p>\n<p>BTC is, in fact, a purely speculative asset without utility<\/p>\n<p>\u2014 Justin Bons (@Justin_Bons) <a href=\"https:\/\/twitter.com\/Justin_Bons\/status\/1563912991015305216?ref_src=twsrc%5Etfw\">August 28, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the expert, Bitcoin&#8217;s value proposition has deteriorated due to a broken long-term security model, relatively weak economic properties, low throughput, and a lack of programmability and composability.<\/p>\n<p>Bons vigorously defended Bitcoin, but changed his view due to the community&#8217;s refusal to raise the block size limit. &#8220;This has become a serious deviation from Bitcoin&#8217;s original vision and goal,&#8221; he added.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>Bitcoin&#8217;s economic properties are also incredibly weak. \u2026 It competes with cryptocurrencies that can achieve negative inflation [\u2026], high throughput and usefulness [\u2026], such as ETH after<\/em><a href=\"https:\/\/forklog.news\/the-merge-perezapustit-li-rynok-masshtabnoe-obnovlenie-ethereum\/\"><em>the Merge<\/em><\/a><em>, and alternatives like AVAX, NEAR and EGLD<\/em>,<\/p>\n<p>\u2014 he said.<\/p><\/blockquote>\n<p>As a result, Bitcoin has come to be perceived by many as an asset in which people invest &#8216;despite fundamentals relating to yield, usefulness and analysis of use cases,&#8217; the expert noted.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Most people invest in the first cryptocurrency mainly because they believe the price will rise. They operate on the same principle as Ponzi scheme participants,&#8221;<\/em> Bons explained.<\/p>\n<\/blockquote>\n<p>In June, a similar pyramid comparison was made by Red Date Technology&#8217;s CEO and <span data-descr=\"Blockchain Services Network \u2014 a blockchain platform supported by the Chinese authorities\" class=\"old_tooltip\">BSN<\/span> co-founder He Yifan.<\/p>\n<p>Earlier, Genesis Trading&#8217;s head of derivatives, Joshua Lim, named three reasons for Bitcoin&#8217;s weak momentum recently.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Due to the absence of technological progress, Bitcoin is &#8216;an exclusively speculative asset without utility&#8217;. This was stated by Justin Bons, founder and Chief Investment Officer of Cyber Capital.<\/p>\n","protected":false},"author":1,"featured_media":66423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1138],"class_list":["post-66422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=66422"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66422\/revisions"}],"predecessor-version":[{"id":66424,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66422\/revisions\/66424"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/66423"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=66422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=66422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=66422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}