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 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.

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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


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