Vitalik Buterin – the co-founder of Ethereum (ETH) – recently made a comment on Twitter that led to a Twitter-scuffle. The co-founder of the third largest digital currency commented that he does not believe in the Proof of Work consensus protocol of Bitcoin (BTC). The comment of Buterin led to ridiculing and arguments between other digital currency influencers on Twitter.
In a tweet, a digital currency influencer and director at BHB.Network – Giacomo Zucco, said “Nocoiners believe in nothing (nihilism). Multicoiners believe in everything (gullibility). Bitcoiners believe in something (reason).
Zucco’s Comments Steers More Response from Other Crypto Influencers
Zucco said that there are three different types of people. The first set of people are those that are not into digital currencies. The second set of people are those that believe in every altcoin in the market. The last set of people are those that believe in Bitcoin (BTC) and its underlying technology – blockchain – that has transformed the way people think about money in the past ten years.
Vitalik Buterin replied to this tweet by saying that he does not believe in the technology – Proof of Work concept – that helps miners mine Bitcoin (BTC). Buterin has been trying to migrate the Ethereum network from Proof of Work to Proof of Sale because he believes that Proof of Work concept is not the answer. In a tweet, Buterin said: “I don’t like proof of work.”
Although Zucco was only trying to share his opinion regarding how he categorizes people, his tweet attracted different kinds of people. There have been so many arguments and discussions about Proof of Work and other consensus protocol such as Proof of Stake, whether one is better than the other. There were lots of research that entailed the impact of Proof of Work on the world as well as how it could increase global temperature.
According to research carried out by Nature Climate Change, if the mining of Bitcoin (BTC) continues and gains more adoption, it could result in a 2-degree Celsius increase in the global temperature.
In a tweet, GhostNour – a Twitter user – said: “Gullibility hug. Not what my profit sheet says. But please, continue to live your blind maximalist ways with these biased tweets. Bitcoin (BTC) is equivalent to the original all steel combustion engine. Heavy, burns a lot of fuel, nice, but it is highly inefficient.”
In response to that tweet, Zucco said: “I agree, very good analogy. Some replacement for the present Bitcoin (BTC) technology will likely start to be used in real life in about 1.5 centuries. It will take twice that to actually replace the global standard. When that will happen, only the tech infrastructure will be replaced, not the financial asset, that will just migrate, just like Tesla didn’t need to replace roads. So, technically, the Bitcoin (BTC) substitute humanity will likely switch to in about 300 years will be a sidechain, not an altcoin.
Ethereum (ETH) Price Today – ETH / USD
At the time of writing, the third largest digital currency in the world by market cap currently has a market cap of $12.80 billion with a trading volume of $2.10 billion over the past twenty-four hours. Ethereum (ETH) has seen a decrease of about 5.5 percent over the past twenty-four hours, bringing its value down to $128.