The co-founder of Ethereum, Vitalik Buterin, recently lashed back at Michael Saylor and other Bitcoin maximalists for attacking the Ethereum blockchain. Vitalik described Bitcoin heroes as “clowns,” as he further refuted their view on the second leading digital asset.
In July, the Ethereum merge was the most talked about event in the crypto ecosystem. Interestingly, the merge boosted the bullish sentiments in ETH holders. On the other hand, several Bitcoin maximalists have raised questions regarding the merger that has stirred controversies in the crypto ecosystem.
Michael Saylor and Other Bitcoin Maxis Slam Ethereum
In a recent Video dialogue, Michael Saylor of MicroStrategy spoke negatively about Ethereum. Using Vitalik Buterin’s statement against him, Michael stated that the Ethereum network would likely not be stable for the next 36 months. This inference was drawn from Vitalik’s claims that the Ethereum network will be 40% done after the merge and the protocol has a roadmap laid out for the next 3-4 years.
Michael Saylor further questioned the reliability and security of the network. Saylor said:
‘’Technically sound’ means I need to see the protocol function for that thing after about five to 10 years. So we don’t know that, either. Right? Because if you are hard forking and changing it, you introduce new attack surfaces every time you do a significant upgrade.”
Michael Saylor believes the existence of Ethereum violates security laws, further adding that these security laws were extracted from the biblical ten commandments. Although the laws have been modified, they are still based on the principles of not lying, cheating or stealing. The MicroStrategy CEO stated this point to combat Ethereum maximalists who claim securities laws do not apply to Ethereum.
Some other Bitcoin maximalists have added that Ether is currently overpriced, and the utility of an asset does not automatically make an asset valuable. Brad Mills, a Bitcoin investor, has likened Ether to Aluminum in the 1800s, which traded for $1200 per Kg.
Eventually, the market found it less valuable than Gold despite its utility, causing its value to fall to as low as $1 per Kg. Brad Mills believes just like Aluminum, Ether’s value will eventually tank. Brad also believes Bitcoin will always be digital gold, leaving Ether and other altcoins far less valuable.
