Bitcoin

Cryptocurrency Ethereum is a scam, a Ponzi, says Adam Back to BTC Right

A computer scientist, and Blockstream’s CEO, Adam Back, comparing Ethereum and other altcoins-with scams such as Ponzi.

Are all scams

‘Bitconnect, Charles Ponzi, Ethereum, Onecoin, Cardano, Ripple, Bernie Madoff, Stellar, Than, Larmer. They look exactly like each other.”

Not only does Ethereum will be there on a visit, also, Cardano, Stellar and Ripple have to pay for this tribalistische rant.

Charles Ponzi and Bernie Madoff, have been famous (or infamous) because of their scams. Ponzi was so good at it, and that this type of fraud named after him, it is. Bitconnect and OneCoin are two of the famous cryptocurrency projects, in which it was revealed that they are Ponzi’s. Back comparing these practices with altcoins Ethereum, Ripple and Stellar. Also, was a Larmer named, which is probably a reference to Daniel Larimer, and he has been involved in the development of the EOS.

Back in conversation with the journalist, Layah Heilpern.

She went in and asked for Ethereum is a scam or if it is an added value to the ecosystem because of the DApps. Back responded, simply:

“Well, that 70% of all gemined says it all. What’s a bigger scam, Ripple or Ethereum.’

Vitalik Buterin of Ethereum hit back, calling the mind Back to tired old propaganda

Someone is angry…

It’s not the first time that Adam is Back rage against Ethereum. In november of last year, he compared Ethereum, with its now-defunct biotech startup Theranos, which is a nepmedisch device is created.

Back argues that the management went too far in the exaggeration of what it could do, and he also found that the state of Ethereum is wrong too-it was.

The computer scientist has been from the very beginning with a real bitcoinmaximalist, and is even suspected of Bitcoin inventor, Satoshi Nakamoto is. Back and claims that he was once a beer is drank by Satoshi Nakamoto in London.

Market to speak out

Could there be a connection between tribalism, on Twitter from bitcoin maximalisten, and the rise of the ethereum price?

Since the beginning of the year, the price of ethereum has more than doubled, with the bulk of that gain was in the past one month passed. Bitcoin has also risen, but not as much. The momentum will be for Ethereum to be driven by, of course, Final, and hope for the future at the launch of ETH2.0. It is expected that within a few months, and investors and their ethers and their commitment to stable income generation. If the launch goes well, there could be more transactions per second can be processed at the network of bitcoin.

Is Ethereum, the actual second layer of a bitcoin?

Fun fact: In the second phase of the bitcoin, and the Lightning Network, which is currently being 993,25 bitcoins locked up. This corresponds to a value of 11.7 million dollars. Last month, there were still as many as 9 million dollars. In the Liquid Network, a second layer of a bitcoin is, was, last month, to about 23 million dollars to the bitcoin being held.

Compared to bitcoins, which is on the Ethereum network that can be stored by the user. The so-called wrapped bitcoins had in the previous month, with a value of more than $ 100 million.

Bitcoin is by far the largest of the coin, there can be no doubt about it, and that it may always be the case. However, when it comes to apps, outside of the first layer, then there will be more bitcoin to be made at the different levels of Ethereum.

Is Ethereum, the second layer of the Bitcoin?

About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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