In a series of tweets, Vitalik Buterin, co-founder of Ethereum, made his disapproval of Bitcoin Cash ‘Satoshi’s Version’ (BSV) known, calling the new hard fork of Bitcoin Cash (BCH) a “pure dumpster fire.” Buterin’s comments were made in an online Twitter debate with cryptocurrency commentator and businessman Tuur Demeester on Christmas Day.
In the discussion, Buterin debated on the merits and demerits of Proof-of-Work (PoW) and Proof-of-Stake (PoS), two algorithms used by cryptocurrency developers in building their assets. When piqued for his opinion on Bitcoin SV, Buterin tweeted:
“I have my disagreements with the Bitcoin roadmap, PoW, etc., but they’re trying to do something that’s genuinely cool tech,” he responded, before calling BSV a “pure dumpster fire”.
Vitalik Buterin Does Not “Believe in Proof-of-Work”
Buterin also made his disdain for PoW known in the discussion, at one point declaring that he no longer believes in the algorithm, but he, however, remains optimistic about the kind of technology that is being developed. Sadly, he doesn’t share the same sentiment for Bitcoin SV, which claims to have been created in line with the original vision set by Bitcoin’s core developers.
Bitcoin SV and Bitcoin ABC were both forked out of Bitcoin Cash (BCH) on November 15, 2018. BSV was developed with the goal of solving the mounting scalability issues of Bitcoin “on the chain” by making use of giant block sizes. However, ever since its inception, it has continued to face various publicity and technical issues.
It hasn’t been all sunshine and rainbows for Bitcoin SV. The other half of Bitcoin Cash’s hardfork has had its fair share of troubles, particularly with mainstream adoption and integration. At press time, it’s trading for $85.13 with a total market cap of $1.49 billion; the altcoin is yet to be listed on popular crypto exchanges, including Gemini and Coinbase.
Although the hard fork that created BSV has been responsible for major rifts between crypto investors, both it and Bitcoin Cash ABC continue to have strong support behind them.
Buterin has previously called Craig S. Wright a “fraud” to his face at an event.
Earlier this month, Buterin made investments in three different startups, donating 1,000 ETH tokens each to the startups, who are working on the development of Ethereum 2.0. The donations were inspired by a conversation involving Ethereum developers who complained about the lack of funding for projects that could contribute to the ecosystem.