Vitalik says that BTC might be left behind due to its vast energy usage

Vitalik on BTC

TL;DR Breakdown

  • Vitalik says that ETH is going to beat up Bitcoin BTC.
  • Ethereum to launch ETH 2.0 that is environmentally friendly.

The boss of ETH said that crypto is like a bubble meaning it can not be easily predicted when it will come up. He said that ETH might beat up the bull and get to the top of crypto. What makes Vitalik think that ETH will defeat  BTC is the debate that has caught almost everyone’s attention on the massive consumption of fuel energy by the giant digital asset.

The founder of the second-largest digital asset Vitalik Buterin, when interviewed by CNN on Tuesday 19th, said that the crypto space had three bubbles so far. He said he does not know the exact time to which the crypto bubbles will come to an end. However, he said that it could be ending or it will end in a few months to come.

Bitcoin BTC may be left behind

Musk’s decision to suspend Bitcoin (BTC) payments has made it record a significant drop. The fall of bitcoin to $30,000 has affected many investors. However, the 27-year-old billionaire who dropped from college said that he had not felt the effect of the drop.

Massive consumption of fuel by the all-time high digital currency could bring it down if the technology used to mine the digital asset is not changed. 

 The massive effect on the environment might also bring concerns to other institutions using Bitcoin (BTC) to make payments.

ETH is in the process of transiting to ETH 2.0 that will be friendly to the environment. ETH 2.0 is almost 100% fuel saving. This could be the best fit for the replacement of BTC. The 27-year-old ETH founder said that if the giant continues using the same technology it will be left behind by Ethereum.

On the other hand, reconsider the evidences presented by an academic paper on a critical assessment of the Bitcoin mining industry, gold production industry, the legacy banking system, and the production of physical currency. The conclusion was that:

As can be conclusively seen, the relative impact of the bitcoin network does not even register on the radar of the fiat and gold-based monetary systems, representing a very conservative relative environmental impact of just over 0.13%, and a relative economic impact of just under 0.04%. When considering Koomey’s Law, we can expect energy/GH to continue to half every 18 months until 2048.

Hass McCook, author of An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network – 2nd Edition, 2015

The evidences are all out there. Do your own due diligence and make your own conclusions.

Mark Donald

Mark Donald

Mark Donald, hailing from the Blockchain Island Malta, is someone you can trust to deliver exactly what is needed for the job, the very definition of blockchain. He breathes life into innovative ideas while working with talented people who are eager to share their knowledge and skills. With a team player like Mark, it's a cinch Cryptopolitan will reach its highest goals.

Related News

Hot Stories

South Korean judge revokes warrant for Terra co-founder Shin Hyun-seong's arrest
Ethereum price analysis: ETH fails to break the $1,300 level after a period of consolidation
LOOM Price Prediction 2023-2031: Is the Loom Network a Good Investment?
ChainLink price analysis: LINK obtains fully bearish momentum at $7.3
Electroneum Price Prediction 2023-2031: Is ETN a Good Investment?

Follow Us

Industry News

Are crypto miners losing faith in Bitcoin? Over 10K BTC dumped
Coin Signals ordered to return funds to victims
Weekly crypto price analysis 4th Dec: BTC, ETH, XRP, BNB, ADA, DOGE
DeFi predictions 2023: How will crypto and blockchain evolve? 
Avalanche partners with Alibaba Cloud to launch new validators

Add Your Heading Text Here