Giacomo Zucco, founder of the BHB Network and the newly created “B Foundation,” recently took some time to give his uncensored opinion on the top 20 cryptocurrencies. In an interview with CryptoInsider, Zucco answers how he would rate the top cryptocurrencies, from best to worst. To do this, Zucco gave each cryptocurrency a score out of 10: 1 being the worst, and 10 being the best.
The results are below:
#1 – Bitcoin: 10/10
“I think Bitcoin looks better than USD and physical gold. So it really depends and it’s more tricky if you put all the kinds of money together. So if we are just considering cryptocurrencies and we’re using Bitcoin as a benchmark, then Bitcoin is a 10 by definition.”
#2 – Ethereum: 2/10
“I will say 2, very very bad. It’s especially because the thing that we call Ethereum is actually the bailout version of Ethereum after the DAO f***-up. So I am very, very, very, very, very skeptical about Ethereum.”
#3 – XRP: 3/10
“I will say 3, because even if the token itself is a lot worse than Ether (it’s not even scarce, they are controlling all the supply), at least the platform of Ripple itself, even if it has been sold dishonestly as something else, it is like a new version of SWIFT… So we’ll say 3.”
#4 – Bitcoin Cash: 1/10
“That will be 1, because this is an explicit attack on Bitcoin, generated by an entity that tried to take over Bitcoin, the Bitmain company, and sold on a scam website which tries to basically defraud Bitcoin newcomers by selling this altcoin which they call “Bitcoin”. So there are actually people who are at the center of this attempt to defraud people.”
#5 – EOS: 4/10
“EOS is bad because it’s like the third scam in a row from Daniel Larimer…Also, EOS architecture is mostly and centralized and, unlike Ripple or Ethereum guys, they don’t pretend to be much more decentralized than they are. So I would give them a 4. It’s completely useless because everything you can do with EOS can eventually be done with PayPal or with a noJS central site…There is this federation thing that is mostly useless in my opinion, but they are trying less hard to pretend to be decentralized than Ripple or Ethereum, so 4.”
#6 – Stellar: 5/10
“Stellar is still useless, so I can’t give it a 6, which would be like a good enough mark, so let’s say 5. Unlike EOS, it is not a product of a serial scammer. Unlike Ripple, they admitted centralization while one of the explicit differences between Stellar and the original Stellar Fort (which was Ripple) was a more honest approach to their centralization. I don’t think that you can use Stellar to do anything that you couldn’t do on a centralized web server, but at least you’re not wasting time and money on fake mining like in the cases of Ethereum and Bcash. So I will give them a 5.”
#7 – Litecoin: 7/10
“Many of my maximalist friends do not agree with me about this, but I will give Litecoin even a 7. Litecoin is useless as money.
“Also, the people promoting Litecoin are not doing it by attacking Bitcoin or lying about it…Charlie Lee is a good guy.”
“There was some FUD about SegWit being dangerous because the miners could just take money out of your SegWit address… and that FUD was debunked on Litecoin because Litecoin basically adopted SegWit before and nobody had used SegWit in that way, so it was an empirical dismissal of that concern. So yeah, Litecoin has been used as a testnet for Bitcoin, so let’s give it a 7 not as money, but as a future collectible of an ancient past.”
#8 – Tether: 8/10
“I will give it an 8 as long as the Tether company can resist and it doesn’t get censored down, or it doesn’t explode, or it doesn’t fail because of using a full-reserve bank.
“It could be a good way to buy Bitcoin, for example, from an exchange that cannot have a bank account. So Tether is a good strategy for regulatory arbitrage. It’s probably not sustainable, but at least it’s a centralized initiative which doesn’t claim to be decentralized. So it’s not like Ethereum or other stable coins. They admit what they are, and as long as they can exist without the government taking them down, they could be useful for traders or for buyers. So 8!”
#9 – Cardano: 5/10
“Cardano… let’s say I will give it a 7 like Litecoin…There is less bullsh** in the Cardano technological development than in the Ethereum one. Charles Hoskinson is a little more serious about this stuff, I think, than people like Vitalik Buterin. So maybe seven is too much, let’s give it a 6. That’s too much, sorry five! Five it is!”
#10 – Monero: 8/10
“Monero, I would probably give it a 9. Together with Namecoin, I would probably give it an 8… also to Siacoin and Namecoin, which are interesting experiments doing something worthy…People can actually use Monero in real life with an use case right now. So I said before that it doesn’t make sense to have Bitcoin, move it to a market, sell it for Litecoin, transact, pay fees, and then have the merchant buy back Bitcoin… but it could make some sense to send Bitcoin to market, sell it for Monero, send it with a confidential transaction.”
#11 – TRON: 3/10
“Let’s say 3 because just like later altcoins, they didn’t have time to try to promote and to spread all the technical misconceptions and bullshit that Ripple or Ethereum guys did try to spread around. TRON is useless, of course. But I think it made less damage.”
#12 – IOTA: 3/10
“Unfortunately it’s like Ethereum. Maybe give those guys a 3. IOTA doesn’t have anything to do with IoT, so they’re basically matching two buzzwords: cryptocurrency and IoT. However, there is nothing in IOTA that makes any sense for IoT…Let’s give them a 3.”
#13 – DASH: 3/10
“Let’s give it a 4. I would put it in the same zone as things like TRON, as they are actually practically useless…They didn’t do anything explicitly scammy. I mean, maybe I’d give them a 3 because one of the things I hate when people are bullsh***ing about is privacy…when you are bullsh***ing about privacy, people could get killed if they try to use, for example ZCash or DASH or any other fake privacy coins in order to avoid the surveillance of some kind of autocratic regime. So people could suffer serious consequences if they use a fake privacy coin…DASH would probably stay at 3.”
#14 – Binance Coin: 6/10
“I don’t think that utility coins or tokens make any sense because their utility cannot grow in value in most of the cases when the business grows in value…I don’t think that the Binance token is really giving any strict guarantee of returns from a security point of view, and I don’t think it is engineered in a way that is particularly censorship-resistant. If regulators want to shut down the Binance token as a security, they probably can. So, it’s a 6 from me.”
#15 – NEO: 3/10
“I would give it a 3 instead of a 2 just because Ethereum is really, really, really scammy. At the beginning, NEO was an open-source repository on Github, and it was just a Bitcoin fork without any modifications. So basically, the Chinese Ethereum Killer was just a fork of Bitcoin without modifications for months. And people were already paying a lot of money to buy this token without anything, so it’s a clear pet.com-style bubble where people are paying for nothing because they think they are getting rich. And NEO is a typical situation like that: Chinese Ethereum Killer? No, it’s a 3!”
#16 – Ethereum Classic: 5/10
“I will give it a 4. So Ethereum is a collection of the worst ideas that people were considering about Bitcoin back in 2012-2013. Like having computation on chain instead of just a replication is a bad idea because it’s not scalable and it lacks privacy completely. [But] they started to get closer and closer to the Bitcoin original and reasonable assumptions that were completely distorted by ETH. So let’s give the guys a 5.”
#17 – NEM: No rating
“I think that NEM will probably disappear in less than 2 years. If you look at the historical chart of altcoins from 2013, you see that there is a huge turnover. These things come and then go and disappear.”
#18 – Tezos: 3/10
“Tezos is a 3 because it was not just a shitcoin for traders, they also tried to represent some kind of governance solution, and then they started to fight with each other about the governance of money, and they went to court is Switzerland. So very very funny situation. So let’s say 3.”
#19 – Zcash: 2/10
“Zcash…is putting some cryptographic obfuscation in the blockchain in order to have better privacy like Monero does. It’s an interesting idea.”
“Zcash is… I’m undecided between 2 and 3. Is it like Ethereum or a little bit better? I will go with 2.”
