During a recent interview with Yahoo Finance, Eric Finman, teen crypto millionaire noted that the top cryptocurrency had four urgent issues it had to fix if it was to survive the long term. The problems include high transaction fees, infighting among developers, slow processing speeds, and complexity on how to use it.
“It’s facing four big problems. One, its high transaction fees. Two, it takes a long time you know to kind of send anything. And then three, the people that are trying to solve those problems… it’s fragmented; it’s cultish, it’s really kind of a lot of group in-fighting. And I think the fourth one is it’s tough to get into bitcoin. It’s really not easy.”
The Teen Crypto Millionaire Might Fix Bitcoin’s Problems
Even before the teen crypto millionaire made his appearance on Yahoo, he had highlighted the problems hampering Bitcoin on social media. In one tweet made on May 16, 2019, he notes that Bitcoin is long term dead; however, crypto is here to stay. But, before it dies there will be plenty more upswings on its price and if anyone had followed his advice back in December 2018 and bought 5 BTC, they would have made a profit of $20,000.
In another tweet where Finman highlights the four problems currently holding back Bitcoin, he states that the situation irritates him so much maybe he might proceed to fix them himself. However, given that on his Twitter profile, he says half of what he tweets is satire, we are not so sure about his availability to fix Bitcoin’s problems.
According to a piece published by Guardian last year, Finman first bought Bitcoin when he was only 12 years old. This was after receiving a $1,000 gift from his grandmother. Since then, the 20-year old has continued to trade BTC and has managed to grow his portfolio to 458 Bitcoins. At the current prices, his assets are worth approximately $3.6 million.