Vitalik Buterin, the founder of Ethereum, has received many acclaimed opinions in crypto-space. He recently held a discussion on Twitter involving both Bitcoin and its controversial offshoots, Bitcoin Cash (BCH) and Bitcoin SV (BSV). Buterin sparked the discussion, calling Bitcoin SV a “dumpster fire” and discussing the benefits of the Proof-of-Works (PoW) and Proof-of-Stakes (PoS) algorithms.
A Twitter user asked Buterin his opinion about Bitcoin SV (BSV). In response, Buterin did not hold back his criticism of Bitcoin SV and called it a “dumpster fire”. As you know, Vitalik and Craig Wright, the voice of Bitcoin SV are not friends. At least since the Consensus Conference this year, when the Buterin explained that he does not believe that Wright was the inventor of Bitcoin — Satoshi Nakamoto — and he described him as a fraudster.
Regarding Bitcoin and its scaling, Vitalik said that although he does not agree with the Bitcoin roadmap or the PoW consensus, he believes the Lightning Network is “cool tech”.
Before founding Ethereum in 2014, Buterin was a big supporter of Bitcoin. He worked for the blog Bitcoin Weekly before co-founding Bitcoin Magazine. In his tweet above, he confirms his continued support for Bitcoin and distanced himself at the same time clearly from Bitcoin SV.
Bitcoin SV and Bitcoin ABC were both removed from Bitcoin Cash (BCH) on November 15, 2018. BSV was developed with the aim of solving the problems of Bitcoin’s increasing scalability “on the chain” by using GiantBlock. Since its foundation, however, BSV has repeatedly struggled with various journalistic and technical problems.
In addition, Bitcoin SV is still not listed on the common crypto exchanges, including Gemini and Coinbase. Etoro has even announced recently that they will not support Bitcoin SV and instead offers $92 per token as a refund.
On the other hand, the “ Bitcoin Cash War “ has greatly upset the market, leading to a major split in investors’ hopes. Many investors share Buterin’s opinion of Bitcoin Cash, and others blame Hard Fork for the bear market of recent weeks. Bitcoin Cash and Bitcoin SV itself have had a difficult time and big losses since the fork. While BCH is currently at $160, Bitcoin SV is currently trading at $90.
Vitalik Buterin does not believe in “the proof of work”
In another tweet, Buterin said that “he does not believe in the proof of work.”
Ethereum is currently working on the “Casper” update to change its protocol to proof-of-stake, a much-anticipated change whose release is not yet fixed. In addition, Sharding should come on the market in 2020.
Author: Marko Vidrih
Marko Vidrih is creating content about blockchain/crypto/tech/finance/economy/business... | Patreon
Marko Vidrih was born in Slovenia and has always been fascinated by the worldwide economy and evolving technologies…
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