In a recent tweet, ‘Keiser Report’ host Max Keiser called out Ethereum co-founder Vitalik Buterin for failing to understand Bitcoin’s value proposition.
He believes that this is still the case years after Buterin launched Ethereum, the project that came close to flippening Bitcoin in 2017 during the ICO boom.
An early Bitcoin enthusiast
Keiser daring to take a jab at the Russian-Canadian prodigy inevitably led to another tired debate between Ethereum proponents and Bitcoin maximalists.
Buterin himself chimed in to ask Keiser what led him to such a conclusion.
The 26-year-old computer programmer became the first co-founder of Bitcoin Magazine, one of the earliest crypto publications, back in 2011.
Buterin wanted crypto to have significantly more use cases beyond just peer-to-peer payments, which prompted him to create Ethereum:
Eventually dropped out of university to join the space full-time. And soon after that I started to realize that there were a lot more interesting things that you could do with blockchains than just a single peer-to-peer currency.
Buterin’s critique of Bitcoin
As reported by U.Today, Buterin recently poured cold water over the vital stock-to-flow model that predicts $100,000 per Bitcoin.
He also criticized the Bitcoin space (particularly, Binance CEO Changpend Zhao) for only focusing on reforming money, which is not sufficient in 2020, while slamming the top cryptocurrency for having centralized middlemen in the likes of Tether and Blockstream’s Liquid Network.
Despite the hostility between the two biggest cryptocurrency communities, Buterin suggested creating a decentralized exchange (DEX) for easily moving money between the Bitcoin and Ethereum networks.