Max Keiser, a well-known cryptocurrency analyst and former Wall Street trader, has stated that cryptocurrencies, particularly Ethereum ($ETH), are “just outright scams” and should be wiped out. Keiser, a well-known bitcoin bull, told Kitco News’ Michelle Makori that these cryptocurrencies are a “pyramid scheme.”
During his interview with Makori, he stated that any cryptocurrency other than BTC is not sustainable and does not possess the same sound money qualities as BTC.
According to him, Bitcoin features scarcity, decentralisation, and antifragility, and is resistant to being “pumped and dumped” through a pre-mine.
People are “waking up to the fact” that these altcoins are “just outright scams” and nothing helpful has been developed on any of these cryptocurrencies at all that hasn’t been revealed to be a complete scam,” according to Keiser.
According to Keiser, gold is good for exchanging value over time, but “extremely bad at exchanging value across space,” because it’s difficult to carry real gold around to trade value. Fiat currency, on the other hand, is convenient to use but loses value over time.
Keiser went on to say that he compares Bitcoin’s current state of acceptance to that of the internet in its early days, and that he expects BTC’s use will become “ubiquitous” in the future. Software rules the world, “he says, and software will soon alter the money sector, which is currently “mired in 100-year-old and 200-year-old technology.”
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