Tone Vays Says There’s No Such Thing as Crypto, just Bitcoin, Classifies LTC, ETH, and XRP as Useless and Scam Projects

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Analyst Tone Vays in what seems to be a critical comment has called cryptocurrency projects other than Bitcoin useless. In his opinion, the word cryptocurrency is not necessary as it suggests there are other cryptocurrencies apart from Bitcoin.

Vays seems to have a sentiment that places Bitcoin far above any other project in the cryptocurrency industry. In several previous tweets, he has repeatedly referred to other projects as scams. The following are a few of them:

He even blames the Bitcoin bear market on the support that other cryptocurrencies are getting from investors.

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Bitcoin was the first major cryptocurrency created by Satoshi Nakamoto and has since then been ahead by market cap and price. However, is Vays right that all other projects are useless or scams? Projects like Ripple’s XRP have very committed fans who will defend it any day and for good reasons – the company Ripple makes near instant remittance services possible.

Apart from that, Ethereum the second largest cryptocurrency project brought smart contracts and dapps into the world and now Tron and others have followed suit. These projects have reached millions of users around the world who are convinced that they chose the right projects. Therefore it is necessary to ask again, is Tone Vays right to say that only Bitcoin is an authentic project?


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.