John Carvalho: “All of Bitcoin’s Hard-forks are Either Scams or Pure Wastes of Money”

It’s no secret that Bitrefill CCO John Carvalho is a major proponent/ advocate for Bitcoin [BTC]. However, in the same breath, his hostility towards the flagship currency’s various hard forks is also quite well known globally.

In this regard, during an interview with a respected crypto media outlet recently, Carvalho let it be known to the world that he thought of BTC’s forks as being ‘scams at best’. Additionally, in no uncertain terms he also made it clear that except for Bitcoin Cash [BCH] he thought of all other Bitcoin derivatives as being total and utter wastes of ‘time and money’.

On the subject he also stated:

“The craze of forks was mostly just a trick people played to inflate Bitcoin supply and fool people into paying for copies of Bitcoin.”

More on the Matter

For those of our readers who might be familiar with Carvalho and his work, this is definitely not the first instance where he has slighted Bitcoin’s various hard forks such BSV and BTC ABC. For example, during a recent Twitter back and forth with Roger Ver, he literally challenged Ver to a physical duel for the Bitcoin.com domain name.

Not only that, he has also previously criticized Coinbase for allowing its customers to convert BTC to other alt-assets (including Bitcoin Cash).

Lastly, when talking about the release of Bitcoin’s much-hyped Lightning Network, Carvalho said that the protocol was a “game changer” and that it would allow developers to create a host of new features that would make the currency’s ecosystem much more productive and useful.

Other Key Points Worth Noting

  • Carvalho is of the opinion that Bitcoin’s block size should be pushed to around the 300 KB mark so as to make the asset’s native tx speed faster. A similar sentiment is also shared by other crypto experts like Luke Dashjr (who is one of Bitcoin’s primary developers).
  • According to the BitRefill topman, “investor ignorance and fear” are the two main reasons why Bitcoin adoption has been relatively slow to come by.

Final Take

In closing out this piece, it should pointed out that when asked about blockchain technology and how it was being used by institutional players to create their very own stablecoins (such as the JPM Coin), Carvalho replied by saying that such offerings would most likely be left behind since the market as a whole was more geared towards decentralization and transparency.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,436FansLike
2,797FollowersFollow
4,189FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Compound Roadmap to Full Decentralization to Begin with Issuance of COMP to Their Community

Compound will now issue COMP tokens to the users of their protocol in a bid to achieve full decentralization. They have released an...

Crypto Payment Processor BitPay Sees More Use in Stablecoins than Layer-2 Solutions

Rising fees on the Bitcoin blockchain after the halving will not set BitPay, a crypto payments startup, into using layer 2 payment channels...

Digital Dollar Foundation Releases Its First Whitepaper Urging The US Govt To Explore CBDC's

Christopher Giancarlo’s Digital Dollar Foundation releases its first white paper on the digital dollar. The projects aims at implementing a private-public partnership with...

Ethereum is Close to Being Flipped on its Own Blockchain As the Total Value Stored Is Shifting

The Ethereum network has been seeing a lot of activity in 2020. The price of Ether already seems to lead the altcoins rally, currently trading...

Coinbase, Who Controls Over 11% of Tezos, Rolls Out XTZ Staking in the UK, France, Spain, and the Netherlands

Over 6 months back, Coinbase launched Tezos staking for its US customers and now they are rolling this feature out for its users in...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today