Buterin also gave his thoughts on some criticisms leveled at Proof-of-Stake ahead of Ethereum’s upcoming “Merge” event.
Fears Over Bitcoin’s Future
Vitalik Buterin is concerned about Bitcoin’s future.
In a September 2 interview with economics writer Noah Smith, the Ethereum creator said that he is “worried [about Bitcoin] for two reasons.” He explained that he thinks Bitcoin could face problems in the long-term future owing to its fee model. Bitcoin currently distributes coins to miners as payment for securing the network, but as the protocol has a hard supply cap of 21 million, eventually the network will rely on transaction fees alone for security. Buterin told Smith that this is a problem because Bitcoin is “not succeeding at getting the level of fee revenue required to secure what could be a multi-trillion-dollar system.” The amount of fees Bitcoin generates to other protocols has long been a hot topic of discussion in the crypto community. According to Crypto Fees data, Bitcoin...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...