The renowned Bitcoin developer and educator, Jimmy Song does not have kind words to spare some popular cryptocurrencies as he blasts the nascent technology.
In a recent interview, the developer expressed his reservations, referring to the EOS (EOS) as a scam, the Ethereum (ETH) as amateurish and stupid and the Bitcoin Cash (BCH) as having no reason to exist. He strongly believes that not every cryptocurrency project is fair or useful.
Jimmy Song, when asked about how bitcoin was doing compared to other cryptocurrencies such as EOS, he said;
“Well, I think EOS (EOS) is a scam, and I don’t think you should work on it. Working on something like EOS, I don’t think it’s a real idea because it will die in a horrible dumpster fire in the next five years.”
As far as the EOS concerned, Song isn’t the only person expressing his criticism about the project as other influencers in the past also share the same thought as the developer. Blockchain investor and researcher James Spediacci believe that the EOS is a bad investment.
He claimed that the $4 billion raised through the EOS’ ICO were sent directly to Block.one, a Cayman Island-based privately owned firm that had the freedom to decide how it wanted to use the funds.
The investor further attacked the network for pushing its costs to developers. He claimed that it costs $10 in staked EOS to onboard a new end user on to any EOS Dapp and that EOS has not publicly addressed it at all.
Song continued mudslinging other popular altcoins by saying that the Ethereum blockchain was a platform for scammers and that it is amateurish and stupid. He further debased the project saying that it was totally uninteresting in technological development.
The developer also shared his opinion about Bitcoin Cash (BCH) saying the network is not close to replacing money but also useless. He insisted that BCH had no reason to exist citing the article he wrote about the platform called Bitcoin Cash is fiat money.
The developer urged Costea to read his arguments about the project to understand his claims about Bitcoin Cash being worthless and not having any value.
Claims as these have come up from time to time about the strength and stability of some popular altcoins, no doubt leaving fear in the minds of crypto enthusiasts about their future existence.