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Vitalik Buterin Announces Big Risks for Bitcoin, Ethereum and Altcoin Markets!

Vitalik Buterin Announces Big Risks for Bitcoin, Ethereum and Altcoin Markets!

In a new interview on the “What Bitcoin Did” podcast, Vitalik Buterin says that the biggest concern for the cryptocurrency markets is technical issues and the threat of intervention from officials. The Ethereum founder adds the following to his comments on the subject:

SO THERE ARE THINGS THAT I WORRY ABOUT… SO THERE IS ALWAYS A “RISK OF TECHNICAL MALFUNCTION” AS A BLACK SWAN INCIDENT. WHAT IF THE NSA SUDDENLY GOES OUT WITH A QUANTUM COMPUTER AND STEALS A LOT OF CRYPTOCURRENCIES BEFORE YOU DO ANYTHING ABOUT IT? THERE IS ALSO POLITICAL FAILURE. SO IF GOVERNMENTS SEIZE BITCOIN, SEIZE MINING POOLS AND USE IT TO MAKE A 51% ATTACK… ATTACKING THE CHAIN MULTIPLE TIMES UNTIL IT BECOMES INAPPLICABLE? BY THE WAY, ARE PRICES LOW AS THIS THING IS FORBIDDEN AND THERE IS A CRISIS OF CONFIDENCE? THINK ABOUT WHAT WILL HAPPEN…

How Will Bitcoin, Ethereum, and Chainlink Perform in the Market with Drawbacks?
How Will Bitcoin, Ethereum, and Chainlink Perform in the Market with Drawbacks?

Ethereum founder: Bitcoin may lose popularity over time!

For Bitcoin, Vitalik Buterin in particular questions whether developers and investors will continue to show interest in the original cryptocurrency in the long run. The Ethereum founder adds the following to his comments on the subject:

BITCOIN DOESN’T HAVE WHAT I CALL FUNCTIONALITY ESCAPE VELOCITY. SO BASICALLY, HAVING ENOUGH FUNCTIONALITY TO SERVE AS A RELIABLE BASE LAYER FOR MANY DIFFERENT APPLICATIONS… AS A RESULT, OVER TIME PEOPLE ARE LIKELY TO FIND BITCOIN LESS AND LESS INTERESTING AND OTHER PLATFORMS MORE INTERESTING.

Altcoin Analysis
Altcoin Analysis

Will Ethereum (ETH) be a new form of money?

Addressing the debate over whether Ethereum (ETH) will emerge as a new form of money, Vitalik Buterin says it depends on your definition of what constitutes a currency. Vitalik Buterin says that both ETH and BTC have already proven to be a store of value. The Ethereum founder adds the following to his comments on the subject:

THE WORD MONEY BRINGS TOGETHER MANY DIFFERENT CONCEPTS. FOR EXAMPLE, PEOPLE TALK ABOUT UNIT OF ACCOUNT, MEDIUM OF EXCHANGE, STORE OF VALUE. FOR UNIT OF ACCOUNT, ETH IS NOT LIKE THAT AND BTC IS NOT. AS A MEDIUM OF EXCHANGE, BITCOIN IS USED THIS WAY, AND ETH IS SOMETIMES USED THIS WAY… ETH AND BTC HAVE THE FEATURE OF BEING A STORE OF VALUE. THIS IS DEFINITELY SOMETHING PEOPLE HAVE COME TO EXPECT FROM ETH.

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton Theblockchainnew.com he is the editor-in-chief of the news portal. Blockchain is love.

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