Satoshi Action Fund Founder Unleashes Chilling Ethereum Warning, Says Vitalik Buterin Failed

Satoshi Action Fund Founder Unleashes Chilling Ethereum Warning, Says Vitalik Buterin Failed
фото показано с : zycrypto.com

2022-9-29 18:56

Dennis Porter, the founder of the Satoshi Action Fund, has issued a stark warning about Ethereum. According to Porter, this will be Ethereum’s last cycle as the industry’s second-largest cryptocurrency by market cap.

Buterin Failed, Declares Dennis Porter

Unless you’re new in the cryptoverse, you’d know there has been an ongoing war between ethereum and its bigger and better-known rival, bitcoin. This war did not end after the Merge. In fact, it became more intense.

Ethereum received plaudits and the spotlight a few weeks ago for smoothly completing its much-hyped Merge. The Merge jettisoned the crypto’s energy-intensive proof-of-work consensus mechanism for the proof-of-stake security model. The high energy consumption has long been a key criticism of PoW, which remains the basis of bitcoin mining after ether ditched the process.

Some proponents believe that besides alleviating energy concerns, Ethereum’s transition to PoS — intended to position its ecosystem as the future currency — will also put even more pressure on bitcoin’s sustainability.

But not everyone is convinced Ethereum is now much better than bitcoin after the milestone technological overhaul.

Dennis Porter, the founder of the nonprofit Satoshi Action Fund and bitcoin policy advocate, noted in a tweet that this is Ethereum’s last cycle. He claims Ethereum creator Vitalik Buterin had a lot of time establishing the token’s value proposition, but he failed.

The former political advisor believes that many altcoins have the potential to do what Ethereum does. However, no blockchain can fulfil bitcoin’s role perfectly. He believes this will all become clear by 2024.

Of course, Ethereum’s transition to the PoS system brought downsides, notably the risk of increased centralization. Case in point, the two largest stakers of the second-most popular cryptocurrency post-Merge were Lido and Coinbase. This even increases the risk of a 51% attack.

Moreover, the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has insinuated that Ethereum could now be subject to federal securities laws due to the new staking yields.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3101.6 (+0.01%)
Объем 24H $11.155b
Изменеия 24h: -0.13 %, 7d: 4.00 %
Cегодня L: $3055.33 - H: $3131.6
Капитализация $372.585b Rank 2
Цена в час новости $ 1327.88 (133.58%)

ethereum cycle industry market cryptocurrency second-largest cap

Источник: zycrypto.com

ethereum cycle → Результатов: 108


How understanding this part of Bitcoin's cycle is vital for Ethereum, Cardano and other alt traders

The term 'panic sell' has become common to crypto investors in 2021. Bitcoin, the industry's largest asset, has registered different ATHs this year but during each major correction in 2021, panic sellThe post How understanding this part of Bitcoin's cycle is vital for Ethereum, Cardano and other alt traders appeared first on AMBCrypto.

2021-4-27 20:00


Фото:

Will Ethereum’s “New Market Cycle” be Enough to Stop it From Plunging Lower?

Ethereum has seen a distinct divergence between its fundamental utility and its price action Despite seeing unprecedented usage rates, the cryptocurrency’s price action has been closely correlated to that of Bitcoin and the aggregated crypto market One prominent investor is now noting that ETH appears to be entering a new market cycle This comes as the explosively popular DeFi trend continues gaining major traction From a technical perspective, some analysts do believe that it may […]

2020-6-22 22:00


Фото:

The Ethereum Investment Case Has This Unexpected Achilles’ Heel

With the next crypto bull run on the horizon, investors have speculated that Ethereum will be one of this cycle’s best investments. As reported by Bitcoinist previously, Chris Burniske, a partner at Placeholder Capital, said that he thinks Ethereum could rally to $7,500 in the coming years: “If BTC goes > $50,000 in the next cycle, and ETHBTC returns to its former ATH, then expect to see ETH > $7,500. To the mainstream ETH will be […]

2020-6-15 13:00


Фото:

Аналитик назвал условия роста цены Ethereum выше $7500

Партнер венчурной фирмы Placeholder Крис Берниске допустил рост цены Ethereum выше $7500 в случае, если рыночная стоимость биткоина превысит $50 000. If $BTC goes > $50,000 in the next cycle, and $ETHBTC returns to its former ATH, then expect to see $ETH > $7,500.

2020-6-15 12:56


Крис Бурниске допустил рост цены Ethereum до $7 500

Партнёр фонда Placeholder Крис Бурниске считает, что на следующем подъёме Ethereum может легко перешагнуть свой исторический максимум, если будет соблюдено несколько условий. If $BTC goes > $50,000 in the next cycle, and $ETHBTC returns to its former ATH, then expect to see $ETH > $7,500.

2020-6-15 12:07


After 90% crash, Ethereum just printed a major cycle bottom: fund manager

Believe it or not, there was a time when a single Ethereum traded for over 0.10 BTC, meaning that you could sell a mere handful of the altcoin and obtain a whole Bitcoin as a result. However, it’s a whole different story today; since the highs set at the peak of 2018’s bubble, altcoins have […] The post After 90% crash, Ethereum just printed a major cycle bottom: fund manager appeared first on CryptoSlate.

2020-4-27 16:00


SegWit-enabled transactions hit new highs as Bitcoin remains below $12,000

Bitcoin’s rollercoaster movement has been the highlight of the cryptocurrency market, with several altcoins following the patterns set by the world’s largest digital asset. After Bitcoin fell back into a cycle of slow sideways movement, large-cap altcoins like Ethereum and XRP showed similar behavior on the charts, with minuscule changes in their price and market […] The post SegWit-enabled transactions hit new highs as Bitcoin remains below $12,000 appeared first on AMBCrypto.

2019-7-12 11:30


дальше еще 59 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru