Crypto

Vitalik Burin – Crypto versus Gold

Vitalik Burin – Crypto versus Gold

Vitalik Buterin returns to the endless debate between cryptocurrencies and gold. The father of Ethereum judges in a tweet that the Cryptocurrencies are a better bet than “incredibly incongruous” gold.

This opposition between gold and cryptocurrencies is not new. Indeed, since the boom in these new assets, some have expressed the idea that cryptocurrencies, especially Bitcoin (BTC) would be a virtual equivalent of gold. If in a sense the arguments nevertheless make it possible to bring the two closer together, Vitalik Buterin considers that gold is not practical to use and that this last criterion militates in favor of cryptocurrencies.

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Vitalik Buterin prefers cryptocurrencies to gold

In a tweet posted yesterday, the founding father of Ethereum explains that cryptocurrencies are a better bet. According to him, gold is impractical and difficult to use. In fact, he was responding to a tweet from Zach Weinersmith, a Twitter user who claimed that gold was much more like what cryptocurrency enthusiasts advocate.

Above all, he emphasizes the fact that gold is not controlled by a wrist of small players, as is currently the case for the Ethereum blockchain and many others. In short, if he considers that the absence of a decentralized authority for issuing money is a good thing, he recalls that it is enough for one or more people (or companies) to control a blockchain for them to hold the “control of transactions worldwide. »

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Conversely, a Twitter and Ethereum blockchain user named Hayden.eth explains that gold has “a risk of a huge centrally controlled inflation due to asteroid mining. »

“Gold is incredibly impractical. It is difficult to use, especially when transacting with untrusted parties. It does not support secure storage options like multi-sig. For now, gold is less adopted than crypto, so crypto is the better bet.

Vitalik Buterin, co-founder and CEO of the Ethereum blockchain.

What Levraham Spreadsmith replies, after recalling that gold is tangible unlike cryptocurrencies that:

“Ethereum is incredibly impractical. It is difficult to use, especially to make transactions. It cannot be made into a water bottle like stainless steel. At this point, Ethereum has less adoption and a lower market cap than stainless, so stainless is the best bet. »

Levraham Spreadsmith, Twitter user.

An endless debate therefore, which should still make a lot of ink flow.

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