Saturday, March 25, 2023
No Result
View All Result
Blockchain Daily Report
Advertisement
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS
Crypto Marketcap
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS
Crypto Marketcap
Logo
No Result
View All Result
Home Bitcoin

Bitcoin Maximalist Michael Saylor Says Ethereum Could Collapse Like LUNA

by Blockchain Daily Report
December 16, 2022
in Bitcoin
Reading Time: 3 mins read
A A
0
Bitcoin Maximalist Michael Saylor Says Ethereum Could Collapse Like LUNA
Share on FacebookShare on Twitter


Ethereum has come beneath hearth from bitcoin maximalist and former MicroStrategy CEO Michael Saylor who has in contrast the community to LUNA, which tragically collapsed in Might 2022. The results of the collapse proceed to hang-out the broader crypto market, taking part in a job within the collapse of many notable crypto corporations. Now, Saylor has pointed fingers at Proof of Stake (PoS) networks like Ethereum as carrying a risk of crashing just like the notorious Terra.

Will Ethereum Break Like LUNA?

In a Twitter publish, the MicroStrategy ex-CEO highlighted that Ethereum is vulnerable to seeing a LUNA-level occasion. The argument was principally a comparability of bitcoin to different cryptocurrencies resembling Ethereum which Saylor believes are unstable.

The tweet included a hyperlink to a YouTube video by Dealer College that elaborated on the Ethereum blockchain and why there might be an issue with the PoS community. It highlights the truth that the Ethereum community is determined by staked ETH to run which at this level sees a variety of staked cash as a result of there isn’t any option to withdraw them. Nevertheless, Matthew R. Kratter highlights that after the code to withdraw is obtainable and if the cryptocurrency’s value falls additional, then extra customers have a tendency to unstake their cash.

On the finish of the video, Kratter then requires regulators to look into PoS networks resembling Cardano and Ethereum to find out if they’re vulnerable to “threat of catastrophic implosions.” That is in an effort to forestall one other occasion just like the LUNA collapse.

Saylor then compares the community to bitcoin in his tweet saying, “Bitcoin is engineered to be steady, strong, and more and more safe & environment friendly over time primarily based on Proof of Work and ASIC know-how advances.” In distinction, “Proof of Stake protocols are inherently unstable, inefficient, opaque, and dangerous as a consequence of their fragile design,” he added.

ETH takes a dive as speculations achieve momentum | Supply: ETHUSD on TradingView.com

Drawing The Ire Of Supporters

Michael Saylor has at all times been a vocal bitcoin maximalist, preferring the pioneer cryptocurrency over all others within the house regardless of their efficiency. This isn’t the primary time that Saylor has dissed Ethereum however his most up-to-date try has drawn the wrath of ETH supporters.

One person factors to MicroStrategy’s bitcoin investments which have been made beneath his management. At present costs, the corporate is experiencing unrealized losses on its BTC holdings whereby the same funding in ETH would have resulted in a revenue for the corporate, in addition to passive earnings if the cash have been staked.

lol Saylor… what a HUGE mistake you probably did… pic.twitter.com/KvGg65nRfw

— $ETH 🚀🦇🔊 (@Dark86268590) December 14, 2022

Nonetheless, Saylor stays a staunch supporter of bitcoin and his Twitter web page is proof of this. Certainly one of his most up-to-date tweets features a image of a bitcoin lightbulb with the caption “Bitcoin is Everlasting Gentle.”

#Bitcoin is Everlasting Gentle. pic.twitter.com/4Ht8EgpXkC

— Michael Saylor⚡️ (@saylor) December 14, 2022

Featured picture from Coingape, chart from TradingView.com





Source link

Tags: BitcoincollapseEthereumLunaMaximalistMichaelSaylor
Share76Tweet47

Related Posts

BTC Fall Towards $27,000 to Start the Weekend – Market Updates Bitcoin News

BTC Fall Towards $27,000 to Start the Weekend – Market Updates Bitcoin News

by Blockchain Daily Report
March 25, 2023
0

Bitcoin moved near a breakout under $27,000 on Saturday, as markets moved decrease following a unstable week of buying and...

Nasdaq Targets Mid 2023 For Crypto Custody Launch

Nasdaq Targets Mid 2023 For Crypto Custody Launch

by Blockchain Daily Report
March 25, 2023
0

Nasdaq Inc., one of many world’s main monetary establishments and the corporate behind the favored Nasdaq Inventory Change, plans to...

Billionaire ‘Bond King’ Jeffrey Gundlach Predicts the Fed Will Cut Rates Substantially Soon – Economics Bitcoin News

Billionaire ‘Bond King’ Jeffrey Gundlach Predicts the Fed Will Cut Rates Substantially Soon – Economics Bitcoin News

by Blockchain Daily Report
March 25, 2023
0

Billionaire Jeffrey Gundlach, aka the “Bond King,” has predicted that the Federal Reserve might be slicing rates of interest considerably...

Crypto Pundits Romance the Hyperinflation and Dollar Death Narrative. Is It a Real Scare?

Crypto Pundits Romance the Hyperinflation and Dollar Death Narrative. Is It a Real Scare?

by Blockchain Daily Report
March 25, 2023
0

“Within the occasion of a widespread banking panic, which appears unlikely at the moment, there'll most likely be the everyday...

Binance Employees Reportedly Help Chinese Customers Bypass KYC Verification

Binance Employees Reportedly Help Chinese Customers Bypass KYC Verification

by Blockchain Daily Report
March 24, 2023
0

Whereas Binance, the world’s largest cryptocurrency alternate within the business has thrived to be as safe and clear as attainable...

Load More
  • Trending
  • Comments
  • Latest
Mine CLORE Coins Used by the CLORE.AI Distributed Computing Platform

Mine CLORE Coins Used by the CLORE.AI Distributed Computing Platform

January 23, 2023
WildRig Multi 0.36.4 beta Now With Faster NEXA Performance and Lower Fee

WildRig Multi 0.36.4 beta Now With Faster NEXA Performance and Lower Fee

January 23, 2023
Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin

Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin

March 25, 2023
BTC Fall Towards $27,000 to Start the Weekend – Market Updates Bitcoin News

BTC Fall Towards $27,000 to Start the Weekend – Market Updates Bitcoin News

March 25, 2023
Crypto scams, exploits down 71% YoY as $370M lost since January

Crypto scams, exploits down 71% YoY as $370M lost since January

March 25, 2023
Under-the-Radar Web3 Altcoin Erupts 140% This Week Amid $40,000,000 Fundraising Round

Under-the-Radar Web3 Altcoin Erupts 140% This Week Amid $40,000,000 Fundraising Round

March 25, 2023
US Crypto Crackdown Could Stifle Innovation and Weaken Dollar

US Crypto Crackdown Could Stifle Innovation and Weaken Dollar

March 25, 2023
Nasdaq Targets Mid 2023 For Crypto Custody Launch

Nasdaq Targets Mid 2023 For Crypto Custody Launch

March 25, 2023
Billionaire ‘Bond King’ Jeffrey Gundlach Predicts the Fed Will Cut Rates Substantially Soon – Economics Bitcoin News

Billionaire ‘Bond King’ Jeffrey Gundlach Predicts the Fed Will Cut Rates Substantially Soon – Economics Bitcoin News

March 25, 2023
Crypto Pundits Romance the Hyperinflation and Dollar Death Narrative. Is It a Real Scare?

Crypto Pundits Romance the Hyperinflation and Dollar Death Narrative. Is It a Real Scare?

March 25, 2023
Facebook Twitter Instagram Youtube RSS

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Blockchain Daily Report.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 Blockchain Daily Report.
Blockchain Daily Report is not responsible for the content of external sites.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS

Copyright © 2022 Blockchain Daily Report.
Blockchain Daily Report is not responsible for the content of external sites.

  • bitcoinBitcoin(BTC)$27,755.00-1.81%
  • ethereumEthereum(ETH)$1,764.21-1.01%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.010.08%
  • binancecoinBNB(BNB)$325.980.25%
  • usd-coinUSD Coin(USDC)$1.01-0.01%
  • rippleXRP(XRP)$0.4516785.19%
  • cardanoCardano(ADA)$0.361355-0.31%
  • dogecoinDogecoin(DOGE)$0.0755160.12%
  • staked-etherLido Staked Ether(STETH)$1,761.13-1.46%