Bitcoin Bull Michael Saylor Says Incomplete Ethereum is ‘Unstable’
Notorious Bitcoin bull Michael Saylor has openly called out Ethereum’s robustness, both in terms of technical development and ethics.
On Wednesday, Saylor, the founder and CEO of business intelligence software firm MicroStrategy (MSTR), gave a nearly one hour-long remote presentation at the Blockchain Economy in Istanbul where he answered a question about his views on Ethereum (ETH).
Saylor said that it was Ethereum co-founder Vitalik Buterin himself who said in a presentation last week that Ethereum is still only 40% complete and has a three- to four-year timeline attached. “So it doesn’t look like it’s going to be completed or stable for another 36 months,” Saylor said.
The MicroStrategy CEO explained that for him as a corporate investor trying to avoid unnecessary risks, it is important to “wait until the protocol is complete.”
Saylor also raised doubts about the technical reliability and security of the protocol, due to the lack of time-tested information, elaborating:
“‘Technically sound’ means I need to see the protocol function for that thing after about five to 10 years. So we don’t know that, either. Right? Because if you are hard forking and changing it, every time you do a big upgrade, you introduce new attack surfaces”
Since it bought the dip four weeks ago, Saylor’s MicroStrategy is holding 129,699 Bitcoin (BTC) worth just a little under $3 billion at current price of $22,931 per coin. Ethereum is currently moving hands at $1,626 according to CoinMarketCap. The two flagship cryptocurrencies have made gains of 7.5% and 11.2% respectively over the last 24 hours.
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Source: igaming
