{"id":255278,"date":"2022-09-03T04:00:30","date_gmt":"2022-09-02T22:30:30","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=255278"},"modified":"2022-09-02T18:51:30","modified_gmt":"2022-09-02T13:21:30","slug":"ethereum-your-lambo-chances-on-holding-eth-buterin-has-answer","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/ethereum-your-lambo-chances-on-holding-eth-buterin-has-answer\/","title":{"rendered":"Ethereum: Any LAMBO chances on holding ETH? Buterin has answer"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Ethereum [ETH<\/span><span style=\"font-weight: 400;\">] co-founder Vitalik Buterin has taken another dig at <\/span><span style=\"font-weight: 400;\">Bitcoin [BTC]<\/span><span style=\"font-weight: 400;\">. In a recent <\/span><a href=\"https:\/\/noahpinion.substack.com\/p\/interview-vitalik-buterin-creator\"><span style=\"font-weight: 400;\">interview<\/span><\/a><span style=\"font-weight: 400;\"> with <\/span><a href=\"https:\/\/twitter.com\/Noahpinion?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor\"><span style=\"font-weight: 400;\">Noah Smith<\/span><\/a><span style=\"font-weight: 400;\">, the Russian-Canadian crypto creator made a statement.<\/span><span style=\"font-weight: 400;\"> This was not the first time that Vitalik claimed superiority over the number one cryptocurrency in market value.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In 2021, he <\/span><a href=\"https:\/\/twitter.com\/CNN\/status\/1395350340761919490?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1395519867546132480%7Ctwgr%5E528b61dc6ebad334964084fd9c49f7c3fd4e9134%7Ctwcon%5Es3_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fvitalik-crypto-is-in-a-bubble-bitcoin-may-get-left-behind-due-to-its-power-usage\"><span style=\"font-weight: 400;\">told<\/span><\/a><span style=\"font-weight: 400;\"> CNN that Bitcoin could get left behind. At another time, he was at loggerheads with ex-Twitter CEO and Bitcoin maximalist Jack Dorsey over the same issue. Now, Vitalik has reiterated his point. This time, he focused on BTC&#8217;s energy consumption and security.<\/span><\/p>\n<h3><span data-preserver-spaces=\"true\">Fees do not mean security<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">According to Vitalik, the BTC&#8217;s dependence on revenue and fees would not be able to provide enough security for its users in the long term. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">He noted that BTC had not grown much in recent years in transaction fees generated. His claim may, however, have some truth in it based on current data.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Blockchain data platform YCharts<\/span><a href=\"https:\/\/ycharts.com\/indicators\/bitcoin_total_transaction_fees_per_day\"><span style=\"font-weight: 400;\"> revealed<\/span><\/a><span style=\"font-weight: 400;\"> that the BTC daily total transaction fees since March 2022 significantly declined. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of this writing, the total BTC transaction fees last recorded was $293,638. This amount was for 1 September.<\/span><\/p>\n<figure id=\"attachment_255280\" aria-describedby=\"caption-attachment-255280\" style=\"width: 1022px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-02-at-08.34.19.png\"><img decoding=\"async\" class=\"wp-image-255280 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-02-at-08.34.19.png\" alt=\"\" width=\"1022\" height=\"234\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-02-at-08.34.19.png 1022w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-02-at-08.34.19-300x69.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-02-at-08.34.19-768x176.png 768w\" sizes=\"(max-width: 1022px) 100vw, 1022px\" \/><\/a><figcaption id=\"caption-attachment-255280\" class=\"wp-caption-text\">Bitcoin daily total transaction fees | Source; YCharts<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">While making his basis for the ETH success, Vitalik said that the decentralized applications component of Ethereum has made it far ahead of Bitcoin. He added that the Proof-of-Work (PoW) consensus offered less security than Proof-of-Stake (PoS), which Ethereum was moving to.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Vitalik also mentioned the rise in ETH mining revenue. According to Glassnode, ETH miners have had more success stories than their BTC counterparts. Based on on-chain data, BTC miners\u2019 <\/span><a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&amp;category=Fees&amp;m=mining.RevenueFromFees&amp;s=1659481200&amp;u=1662073199&amp;zoom=\"><span style=\"font-weight: 400;\">revenue<\/span><\/a><span style=\"font-weight: 400;\"> was 1.67% at press time. For ETH, it was a <\/span><a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&amp;category=Fees&amp;m=mining.RevenueFromFees&amp;s=1659481200&amp;u=1662073199&amp;zoom=\"><span style=\"font-weight: 400;\">whopping<\/span><\/a><span style=\"font-weight: 400;\"> 14.59%.<\/span><\/p>\n<figure id=\"attachment_255281\" aria-describedby=\"caption-attachment-255281\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETH-miners-revenue.png\"><img decoding=\"async\" class=\"wp-image-255281 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETH-miners-revenue.png\" alt=\"\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETH-miners-revenue.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETH-miners-revenue-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETH-miners-revenue-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETH-miners-revenue-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETH-miners-revenue-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-255281\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<h3>Don\u2019t fret<\/h3>\n<p><span style=\"font-weight: 400;\">In other parts of the interview, Vitalik encouraged the crypto community not to be bothered by the volatility currently experienced. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">He noted that he was surprised by the length of the last bull run, and the current bear state will pass. Despite the claim, the ETH\/USDT pair still showed volatility. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, it seemed to be in a \u201cnot too high\u2019 state as per indications from the Bollinger Bands (BB).<\/span><\/p>\n<figure id=\"attachment_255284\" aria-describedby=\"caption-attachment-255284\" style=\"width: 1834px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETHUSDT_2022-09-02_09-00-28.png\"><img decoding=\"async\" class=\"wp-image-255284 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETHUSDT_2022-09-02_09-00-28.png\" alt=\"\" width=\"1834\" height=\"877\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETHUSDT_2022-09-02_09-00-28.png 1834w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETHUSDT_2022-09-02_09-00-28-300x143.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETHUSDT_2022-09-02_09-00-28-1024x490.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETHUSDT_2022-09-02_09-00-28-768x367.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/ETHUSDT_2022-09-02_09-00-28-1536x734.png 1536w\" sizes=\"(max-width: 1834px) 100vw, 1834px\" \/><\/a><figcaption id=\"caption-attachment-255284\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Moreover, as per CoinMarketCap, ETH was up 3.22%, with its <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum\/\"><span style=\"font-weight: 400;\">price<\/span><\/a><span style=\"font-weight: 400;\"> at $1,593.57 at press time. With the Merge drawing closer daily, ETH HODLers can only hope it brings good tidings and justifies Vitalik\u2019s claims.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum [ETH] co-founder Vitalik Buterin has taken another dig at Bitcoin [BTC]. In a recent interview with Noah Smith, the Russian-Canadian crypto creator made a statement. This was not the first time that Vitalik claimed superiority over the number one cryptocurrency in market value.\u00a0 In 2021, he told CNN that Bitcoin could get left behind.<a href=\"https:\/\/ambcrypto.com\/ethereum-your-lambo-chances-on-holding-eth-buterin-has-answer\/\">Continue reading <span class=\"sr-only\">&#8220;Ethereum: Any LAMBO chances on holding ETH? Buterin has answer&#8221;<\/span><\/a><\/p>\n","protected":false},"author":70,"featured_media":255285,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,32,66,3,4,20],"tags":[],"class_list":["post-255278","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-ethereum-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ethereum: Any LAMBO chances on holding ETH? Buterin has answer - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Ethereum [ETH] co-founder Vitalik Buterin has taken another dig at Bitcoin [BTC]. 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