TD₿: Why I'm So "Against" Ethereum (a thread) by Tuur Demeester
TL;DR Ethereum's architecture and culture are antithetical to Bitcoin and it will become more centralized and dysfunctional over time.
I get asked a lot why I am so outspoken about Ethereum. One main reason is I feel the promoters and insiders of Ethereum are disingenuous.
They frequently paint a picture of progress when the facts show Ethereum has failed to live up to any of its promises since 2014.
Newcomers who find it hard to understand the technical jargon often fall for the narratives pushed by Ethereum proponents. They’re led to believe that Ethereum is somehow on par with Bitcoin which couldn’t be further from the truth.
Every year that goes by is another year that Ethereum fails to deliver. Whether that’s with its transition to Proof of Stake, the (lack of) reduction of gas fees, or some new scaling solution. Something always breaks and the can is kicked down the road.
In reality…where Bitcoin has continued to become more decentralized, more efficient, and more secure over time, Ethereum has done the exact opposite.
This Twitter thread from Tuur Demeester helps lay out some of the historical failures of Ethereum and why its architecture is fundamentally flawed (12/28/2018).
The fact that Tuur wrote this thread in 2018 and it’s still relevant today, should tell you everything you need to know.
Tick tock next block,
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Quote of the Day
“There’s a culture of recklessness and a culture of promises that are just not held up. And then a lack of internal debating culture. It’s like there’s their leadership or perceived leadership, and people follow that and they will wait for the leadership to tell them what to do.” - Tuur Demeester (on Ethereum), Founder of Adamant Capital
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