core

In this post: Justin Bones compares bitcoin to an emperor with no clothes and calls it fool's gold.

Mr. Bones also argues that tokens no longer provide performance, scarcity, censorship resistance or long-term security. He predicts that digital
Justin Bones, founder and chief investment officer of Cyber Capital, warned against investing in #bitcoin , calling it fool's gold In a detailed post on
X. In the post, Bones calls bitcoin an emperor with no clothes rather than a meme coin, and warns traders against taking #BTC investments seriously.
Bones believes that BTC has lost all its attractive qualities and will not last long. He argues that without capacity, scarcity, privacy, #DeFi and long-term security, the asset doesn't have a leg to stand on.
He also argues that bitcoin's other impressive qualities, such as censorship resistance, immutability, financial sovereignty and decentralization, have long been lost, and only other emerging assets have pioneered.
He further noted that: BTC was actually taken over by a relatively small group of people who managed to completely undermine the purpose, vision, and #core design of BTC. This did not happen without a fight. This story is now known as the block size debate, which culminated in 2017 with the victory of Bitcoin Core and the defeat of bitcoin.
He believes that one group is still in control of BTC, and unfortunately, traders are still unaware of the real state of affairs of the token. He believes that traders do not know what the tokens really represent. He further compared the current governance of BTC to the Github dictatorship and stated that unlike Satoshi's wishes, Core is preventing BTC from expanding its future mandate.
He further argued that bitcoin is currently only capable of about seven transactions per second and cannot be used for anything vital. He stated.

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