The founder of the Adamant Capital, Tuur Demeester suggests that although ethereum is compared to the genesis version of cryptos, the bitcoin with all of the features that supposedly both of the coins carry in them. As per Demeester, one represents the purest forms of decentralization whilst the other portrays a disfigured version of the decentralization with minute traces of cenetralization also present. After an immense series of questionnaires as to what are the reasons Tuur Demeester is against ethereum, the man comes up with a total 31 statements to offer his way of thinking. BlockPublisher attempted successfully to communicate with the man himself in order to get his take over the discourse he initiated in the first place.
ETH, although thought of similar to bitcoin in the features like, decentralization, immutability, SoV, asset issuance and smart contracts….., varies largely with the later mentioned crypto. The essence of decentralization is not pure in ETH as it is represented in the bitcoin. ETH is the decorated crypto newcomer after the bitcoin which is nothing but a mere testing playground.
Tuur Demeester, is a little bit harsh over the ethereum as clear from his statement but the real deal is that ethereum does differ from the bitcoin as it really IS built over an entirely different concept i.e. pure decentralization is not as secure as the one where an entity has been assigned to keep the entire transactions in check all the time. Whether or not this is a brilliant idea, is up to the reader to decide, the thing is Demeester rightly classifies the two cryptos apart.
Demeester explains that ETH is certainly not sound money and neither is it safe without being scalable. This sure turned a large amount of heads, including the likes of Erik Vorhees, the chief executive officer of ShapeShift. Vorhees explained smoothly and clearly that everything has some smooth curves and sharp turns. Every product can bear decent pros and horrendous cons.
The problem isnt that you have some legitimate critiques. The problem is that both BTC & ETH have promise & pitfalls (some unique, some shared). You, & Maximalists generally, highlight the promise of your chain and the pitfalls of the other. That’s tribalism, not thoughtfulness.