Experts are split on the future of Bitcoin and cryptocurrency. Some say it will rebound and continue to rise while others bet it will drop in price once again. For a former Paypal CEO, he keeps it simple by saying it’s a scam.

Bill Harris, former Paypal CEO and founder of Personal Capital, wrote an editorial for Recode regarding Bitcoin on Tuesday. He did not hold back his feelings on the cryptocurrency calling it a “scam” and having “no value.” His barrage of ridicule wasn’t limited to Bitcoin as he pointed out other digital currencies have similar problems.

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“In my opinion, it’s a colossal pump-and-dump scheme, the likes of which the world has never seen,” he said. “ The losers are ill-informed buyers caught up in the spiral of greed. The result is a massive transfer of wealth from ordinary families to internet promoters.”

His biggest issues with Bitcoin were the aspects cryptocurrency supporters claim to be its strengths such using it as a means of payment and storing value. Harris pointed out that Bitcoin is not widely accepted as a form of payment and that the price is so unstable. Another issue he mentioned was how cryptocurrency transactions take a long period of time to complete, about an hour for a Bitcoin transaction, and the fees cost more than credit cards or bank transactions.

To finish up his editorial, Harris focused on the criminal aspect of cryptocurrency. He used Silk Road and WannaCry ransomware as examples of how hackers and criminals make use of Bitcoin. His suggestion to deal with the problems with cryptocurrency was for the SEC and other regulators to “protect ordinary investors from misleading and fraudulent schemes.”

Right now, the future of Bitcoin is still questionable, but for Pornhub visitors, they can use one particular cryptocurrency for the site.