Outspoken crypto critic says BTC is fools gold, not worth investing in

Justin Bons, founder of Cyber Capital, criticizes Bitcoin, arguing it has lost key qualities like scalability, privacy, and decentralization. He claims Bitcoin can only process about seven transactions per second, limiting its usability. Bons believes a small group controls Bitcoin's development, contrary to its original decentralized vision. He suggests this control has led to high transaction fees and a reliance on a small number of holders. Bons predicts Bitcoin will collapse within 8 to 12 years due to these issues, potentially leading to a situation similar to a bank run as users struggle to withdraw their assets. He argues Bitcoin's fixed supply of 21 million coins will eventually hinder its price growth. Bons encourages abandoning Bitcoin to support alternative cryptocurrencies that better align with its original principles.