Ethereum co-founder Vitalik Buterin speaks on ‘collapse of ETH’

Posted on Sep 4, 2018

Ethereum co-founder Vitalik Buterin speaks on ‘collapse of ETH’

Ethereum community got all curious and agitated after Tech Crunch published an article on Ethereum – ‘collapse of ETH is inevitable’. Number of questions and doubts popped up and to answer it all co-founder Vitalik Buterin wrote a post giving an insight about it. Surprisingly, he agrees ‘collapse of ETH is inevitable’, at least for now.

Cryptocurrency entrepreneur Jeremy Rubin wrote the Tech Crunch article stipulating the price of ETH and that it is bound to plummet. Vitalik Buterin agreeing to the piece wrote on Reddit, “In Ethereum as it presently exists, this is absolutely true.” Buterin further added, “[A]nd in fact if Ethereum were not to change, all parts of the author’s argument […] would be correct.”

In the article, Rubin argues that Ethereum has problems with scaling and smart contract security. It is leading to the inability of outdoing the competitors and all of this will inevitably lead to the collapse of Ethereum (ETH) by “economic abstraction.”