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Ethereum Founder Tells Bitcoin Dev: BTC Wasn’t Always ‘Digital Gold’

cointelegraph.com

Ethereum co-founder Vitalik Buterin was involved in a spat with a Bitcoin developer on Twitter yesterday, when he suggested BTC was originally designed to be P2P cash, not digital gold. The refusal of Bitcoin developers to increase the block size in order to scale on-chain resulted in high transaction fees, and prompted a sizable chunk of the community to hard fork the code into a new chain — Bitcoin Cash (BCH).

Likewise, Buterin accepts the reality of BTC’s high fees, and suggests that now the digital gold use case has been established, people should simply use a different cryptocurrency for other use cases: “It was a controversial pivot executed without many participants' consent. The insistence of Bitcoin Core developers to keep the block size low, and maintain the digital gold narrative, has probably inspired more hard forks and more altcoin launches than any other phenomena in crypto —  barring greed.

Read in Full: cointelegraph.com
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70343.6000 0.10%
Ethereum Ethereum
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BNB BNB
611.128000 3.90%
Solana Solana
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XRP XRP
0.61795300 -0.07%