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.
