We already wrote about how the Bitcoin Core developer Jeremy Rubin put forward arguments about the “possible collapse” of Ethereum in his article on TechCrunch. In a post on Reddit acne Buterin said that predictions of a ruby would be true only if Ethereum has not improved constantly. In particular, they talked about the transition to the PoS algorithm.
In addition to a detailed explanation on Reddit, Buterin summed up his words on Twitter, stating that “every existing blockchain, including ETH and BTC, [in themselves] are not worth anything”. In addition, he again stressed that “necessary transition to PoS”.
Buterin always supported their point of view not only for the technical arguments, but also philosophical.
In comments to the tweet Buterin user JP Thor wrote that “such problems are not observed with bitcoin”, which is focused on the preservation of value (SoV), and “the unnecessary change would bring [bitcoin] more harm than good.”
Vitalik said that the blockchain itself is not focused on “clean SoV” and what real value it acquires only after the success in the market due to other forms of utility that check the in/tangible.
There Buterin explained:
One of the ways in which this can be achieved by the following: if the burn of transactional commissions, the pace of growth in the supply of cryptocurrencies will become negative, and the crypto currency will become more attractive as a store of value (SoV).
Team Ethereum is actively working on improving the blockchain of the cryptocurrency. Plan on updating Casper is just designed to move from the current PoW to PoS algorithm.