Bitcoin maximalist Michael Saylor has questioned the soundness of Ethereum, both in terms of its technical development and ethics. Criticizing Ethereum from different aspects, Saylor also stated that he does not intend to invest.
“I would not buy a project that is still not completed and stable”
Michael Saylor, the founder and CEO of business intelligence software firm MicroStrategy (MSTR), spoke remotely for nearly an hour at Blockchain Economy Istanbul on Wednesday, as we reported as Kriptokoin.com. The famous Bitcoin maximalist detailed the question of what he thinks about the leading altcoin Ethereum.
MicroStrategy has a stash of 129,218 Bitcoin (BTC) worth approximately $2.8 billion at current prices. Saylor, founder of MicroStrategy, stated that this is why he speaks as an institutional investor. In this context, he noted that he would have to wait for the acquisition until the protocol was completed. Ethereum co-founder Vitalik Buterin gave a speech last week. In his speech, Buterin stated that Ethereum is 40% complete and sets a three- to four-year roadmap. Citing Buterin’s speech, Saylor said that this means that Ethereum will not look complete or stable for another 36 months.
Bitcoin maximalist’s technical criticisms of Ethereum
The MicroStrategy founder also noted that the protocol has raised concerns about its technical reliability and security. That’s why he questioned the lack of time-tested information about Ethereum. Michael Saylor underlined the following points in his speech:
‘Technically sound’ means that after about 5 to 10 years I should be able to function as a protocol for that thing. So we don’t know that either. TRUE? Because if you’re hard forking and swapping, new attack surfaces appear every time you make a major upgrade.
Is Ethereum ethically sound?
However, Michael Saylor continued his criticism of Ethereum. Saylor also noted that he doubts the ethical soundness of Ethereum. What does ‘ethically sound’ mean? The MicroStrategy founder asked:
It means I need to know that no one can change the protocol, including Vitalik. I need to know that no one, no one in the Ethereum foundation can change the protocol. Because if they can change the protocol, that makes it a security. If it makes it a security, then there will be no global money.
Meanwhile, Michael Saylor recently suggested that MicroStrategy would never sell its Bitcoin. Talking about Bitcoin in his speech, Saylor said, “It is impossible to move your real estate and other large assets to other countries. However, with Bitcoin, it is possible to do this in seconds,” he said.
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