More

    Ethereum's Vitalik Buterin Answers Tuur Demeester for His Critics Towards ETH and Altcoins

    A few days ago, Tuur Demeester, a Bitcoin proponent and founder of the Adamant Capital, wrote a series of Tweets criticizing Ethereum (ETH). Clearly, Vitalik Buterin, Ethereum’s co-founder did not like that and decided to answer him back.

    On Twitter, Tuur Demeester wrote a 50-tweets-long thread explaining why he is against Ethereum, one of the largest blockchain networks in the market and the third virtual currency in terms of market capitalization.

    According to Demeester, Ethereum is an opposite project to Bitcoin and that it is ‘at best a science experiment.’ Furthermore, he noted that its valuation close to $14 billion is too high and that ETH is not money, is not safe and neither scalable.

    Moreover, he emphasized that Ethereum’s project take very long to be launched to the market and that nothing gets delivered on time. Demeester went on explaining that the integration of sharding is a ‘pipe dream’ and that Proof-of-Stake (PoS) is flawed.

    After all this long thread, Vitalik Buterin shared his opinion about all this thread on Reddit. Buterin took the necessary time to answer point by point each of the things mentioned by Tuur Demeester.

    The first thing that he said was that Ethereum’s culture is ‘far saner’ than the one of Bitcoin. About sharding, he commented that it is not at the pipe dream stage at this point. Additionally, he said that sharding is not yet finished but more incremental things have been also going well.

    Demeester said that investing in the Ethereum ICO was equal to buying shares in a startup that wanted to invent time travel as a business plan. For Demeester, it was just a security offering.

    Vitalik Buterin answer to his comment:

    “Nothing in the Ethereum roadmap requires time-travel-like technical advancements or anything remotely close to that. Proof: we basically have all the fundamental technical advancements we need at this point.”

    At the end of the answer provided by Buterin, he said that Demeester skipped over the progress that Ethereum did to expand and make things more professional.

    At the moment, Ethereum is the third largest cryptocurrency and it has a market capitalization of $14.44 billion. Each ETH coin can be purchased for $138.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,279FansLike
    2,755FollowersFollow
    4,126FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Stellar (XLM) Price Analysis (February 16)

    • The price of Stellar is likely to encounter a price breakout soon. • Buyers are in the dominance of the market. XLM/USD Medium-term Trend: Bullish •...

    Bitcoin Cash (BCH) Price Analysis (February 16)

    Key Highlights Lately, there was a slow-increasing mote in the BCH/USD trade worth. As at the time of writing, the crypto’s value looks being...

    MONERO (XMR) Price Analysis (February 15)

    Key Highlights There have been long series of relative up rises in the XMR/USD market activities.  The XRM/USD market has maintained a range interval...

    Bitcoin is Gold on Steroids that would Make an All-time High by Halving: Galaxy Digital CEO

    Earlier this week, Bitcoin breached $10,000 and since then we have been keeping above this level. The digital asset is up 40% in 2020 so...

    Ethereum Technical Indicator Flashes Warning Signal But Active Addresses Jump Nearly 27%

    There is an onslaught of bulls on Ethereum price which is up 114% in 2020 so far while trading at $281, a level last...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.