Vitalik Buterin Thinks That Ethereum Can Defeat Bitcoin in the Future

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Last Updated on 21 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Tim Ferris is an author of many books. One of the most interesting reads of his was the 4-hour workweek in which he explained how you can set up an internet store and then live off your passive income.

The man claims he can get by on only working 4 hours per week. I haven’t tried it yet, though my writings are getting more popular as we speak, so you never know what might happen in the future.

He’s also a famed interviewer who gets access to all major CEOs and celebrities. As such, he recently met up with Vitalik Buterin, the CEO and founder of Ethereum and the result of that encounter made for a very entertaining podcast of 2 hours where they discussed Ethereum, Bitcoin, crypto and life extension.

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Institutional interest

Ethereum, still the world’s second-largest cryptocurrency, is as of late getting good press from major institutional investors around the world. As they prefer to diversify their crypto investment and hope to have another asset on their books beside Bitcoin, Ethereum has been the candidate of choice.

According to a weekly report from CoinShares, the popularity of Ethereum is growing as institutions are accumulating ever more crypto.

During the conversation with Vitalik, one of the interviewers claims that Bitcoin is a fixed system while ETH is dynamic and growing and adaptive, which just makes it more of an evolving creature.

The 27-year old CEO of Ethereum responds:

I’d agree with that, with one reservation, which is that I think the Bitcoin ecosystem does have its own ticking time bomb demons too, like Tether is one example.

With that, the Ethereum founder basically makes the same claim that professor of economics and eternal Bitcoin basher Nouriel Roubini has also been making as of late. Namely that Tether can be used to prop up Bitcoin if needed, simply by creating more stablecoins which are then used to buy Bitcoin. Even famed contrarian investor and commentator CryptoWhale believes this to be true.

Asked about the difference between crypto and fiat, Vitalik explained that:

Fiat currency is — they basically get created by a combination of the central bank and the commercial banking ecosystem. And in terms of where the newly generated value comes in, both sides of that get some share essentially. And there’s bad things that come out of it. There’s also good things that come out of it. I know this is a controversial position along the libertarians, but I actually like the idea that if you have a fiat currency, then the government can print it and just use that as a source of government revenue. The reason why I like it is because I think if the governments could get money through unobtrusive means, that reduces the extents to which it has to rely on getting money through more intrusive means and rely on taxation.

A you can see already, a very interesting talk which we would highly recommend anyone on the cryptosphere to listen to.