Erik Finman: Bitcoin Is On The Verge Of Extinction If The Following Issues Are Not Addressed
Your average teenager is probably in his bedroom playing computer games, but Erik Finman is a millionaire already thanks to bitcoin and cryptocurrencies.
However, in a recent interview with Yahoo Finance, the young Erik Finman pointed out several issues that face bitcoin as a pioneer cryptocurrency.
Some of them include; its complex network regarding use, constant in-fights among its developers, exorbitant transaction charges, and slow speeds when processing transactions.
What then should bitcoin do?
Finman has been using his social media accounts to highlight the flaws in Bitcoin even before this interview was carried out. Finman first invested in bitcoin (BTC) when he was just 12 years old according to The Guardian.
His grandmother had given him $1000 as a gift. And since then, the young man who turned 20 recently, has been involved in cryptocurrency trading and has grown to own 458 bitcoins. According to the prices on the charts currently, it is estimated he is worth $3.6 million.
In his interview with Yahoo Finance, the teenage expressed his fears about the future of bitcoin as a leading coin in the cryptocurrency world. According to Erik, bitcoin is facing lots of competition from other altcoins and if it has to beat that, it will need to work on its major flaws as earlier outlined.
Erik also went back to December 2018 in a statement on his twitter handle where he had said that long term bitcoin was dead. This young crypto millionaire defended his tweet saying that despite his comments, the cryptocurrency is yet to have more bull runs.
However, in spite of this, the young crypto enthusiast is still bullish on the blockchain technology altogether. He even repeated another statement he had earlier said in January last year where he had claimed that it’s still possible for one to be a millionaire if they invest in bitcoin and the blockchain technology.
Finman said that anyone who didn’t become a billionaire in this cryptocurrency era in the next 10 yrs would only have themselves to hold accountable!
Some of the cryptocurrencies Finman says are the best are Ethereum (ETH) and Zcash. In another interview with MarketWatch, the young billionare said that bitcoin cash had lots of potential but that it is not well marketed to interested investors.
However, in as much as Erik Finman sees the future of bitcoin as bleak, he is still holding for the unforeseeable future. He is hopeful that bitcoin will have one big bull run. Then is when he plans on selling all his Bitcoins.