Buterin mocks Roubini with a daring prediction - Ethereum News
Buterin mocks Roubini with a daring prediction
The debate goes for a second round
Vitalik Buterin, Co-Creator of Ethereum, has stated in his Twitter account that he foresees a financial crisis taking place at some point “between now and 2021.” However, his reasons for such prediction are not what people expected.
“Not because I have any special knowledge or even actually think that, but so that I can have a ~25% (or whatever) chance of later being publicly acclaimed as ‘a guru who predicted the last financial crisis’” he said.
This is in reference to his heated debate with American economist Nouriel Roubini, who yesterday asserted that Buterin is Ethereum’s dictator, and even after the response of the Russian-Canadian programmer, kept bashing him via the aforementioned social network.
“Vitalik, just shut up & speak about stuff that you can claim u know a lil about. You have promising Proof of Stake since 2013 & we are still waiting for a system that is scalable, decentralized & secure. But that is impossible as your inconsistent trinity principle proves,” replied Roubini to Buterin’s mockery.
The discussion has taken on subjects such as the aforementioned scalability trilemma – three issues that have prevented blockchains from scaling, and according to Roubini, it is impossible to solve without centralization, but Buterin has already stated that the solution is in development – and the change of Ethereum’s consensus algorithm from Proof of Work to Proof of Stake, to which the economist argued that both are massively centralized, with PoS being the worst in this regard.
However, it seems that this all comes down to the same reason he has been criticized for in the past days: the pre-mining of ETH. Roubini said that along with fellow co-founder Joe Lubin, Buterin amassed a fortune he estimated in 75% of the total Ether supply thanks to the becoming “instant billionaires of fake wealth.”
To this, Vitalik responded that he is unaware of any legal impediment or criminal law against pre-mining; regardless, he claims that he hasn’t held more than 0.9% of all ETH, and when the token was quoted at $1,250, he had even less.
It appears that some people don’t forgive Buterin for pre-mining Ether and forking the blockchain following the infamous DAO attack, and have been constantly reminding him of that. Despite this, Vitalik has remained calm to all these accusations and focusing on the upcoming developments for Ethereum.
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