Vitalik Buterin, whose opinions on Twitter always interest the crypto community, recently engaged in a discussion that touched on both Bitcoin and its controversial off-shoots, Bitcoin Cash (BCH) and Bitcoin SV (BSV).
Buterin sparked a conversation on Twitter in recent days, with him and others debating the advantages of the Proof-of-Work and Proof-of-Stake algorithms, as well as scaling. Several crypto enthusiasts joined the debate and offered their thoughts on the matter.
Buterin did not hold back in his criticism for Bitcoin SV, calling it a “dumpster fire.” The blunt description of the network follows a line of unfavorable comments made by the Ethereum founder.
While he does not agree with Bitcoin’s roadmap or the PoW consensus, he thinks the Lightning Network is “cool tech”:
Yeah no, I have my disagreements with the bitcoin roadmap, PoW, etc but they're trying to do something that's genuinely cool tech. BSV is a pure dumpster fire.
— Vitalik Non-giver of Ether (@VitalikButerin) December 25, 2018
In another tweet, Buterin said that “he doesn’t believe in Proof-of-Work.”
I don't believe in proof of work!
— Vitalik Non-giver of Ether (@VitalikButerin) December 25, 2018
Ethereum has been working towards shifting its protocol to Proof-of-Stake, a much anticipated change that has been delayed. The PoW consensus is resource-intensive and lends itself to being monopolized by a few mining pools with the equipment required to mine increasingly time-consuming blocks.
Last year, Buterin received some flak for “shilling Bitcoin Cash”, though in actuality he simply praised the project for realizing a vision that they believed was the right path for an electronic cash mechanism.
The Bitcoin Cash Controversy Rages On
In mid-November, Bitcoin Cash hard forked into Bitcoin Cash ABC and Bitcoin SV. In doing so, it riled up the market and caused much division in investor’s hopes, who were split in their support for the 2 forks.
Many investors share Buterin’s sentiment on Bitcoin Cash, and others partially pin some of blame on their hard fork for the market’s worst bear run in some time.
Bitcoin Cash and Bitcoin SV have had a tough time in the markets since the fork. The former is currently trading at $170 while the latter is trading at $93.
Though the split has undoubtedly caused rifts, there is still a good deal of support behind both projects.
Meanwhile, as those 2 projects go their separate ways in determining scaling solutions, Ethereum has been working towards refining its own platform. The solution, called sharding, has been scheduled for release in 2020.
Buterin himself has recently invested in start-ups that are working on technical solutions for the project.
