David – Crypto Speculator
Michael Saylor, the founder and executive chairman of MicroStrategy, reiterates his support for Bitcoin as a stable, powerful, increasingly secure, and effective cryptocurrency built on ASIC and Proof of Work (PoW) technical advancements.
He claimed that because of their fragile architecture, Proof of Stake (PoS) protocols are inherently unstable, ineffective, and risky. He contrasted Bitcoin's Proof of Work (PoW) with Ethereum's (PoS).
According to Matthew, the security of Ethereum must be based on the price of ETH rather than on public confidence. Even the trust that users have in the ETH developers to permit withdrawals shouldn't be a factor in ETH security.
Matthew made the observation that trusting one or more individuals makes crypto a very fragile mechanism. When consumers placed their trust in FTX's SBF or Luna's Do Kwon rather than the performance of the corresponding coins, this is exactly what happened.
On the other hand, Matthew noted that despite Bitcoin's current selling price, the hash rate is currently far more expensive. From 14 million Tera hashes per second in 2017 to 216 million Terra hashes per second in December 2022, the network's hash rate has increased. According to Matthew, this simply serves to highlight the fact that more and more individuals desire to mine it.
Compared to Ethereum's proof of stake, Matthew came to the conclusion that Bitcoin is a lot more reliable and safer.
The debate over whether blockchain is superior is constant since each technology offers something fresh and unique. As the Bitcoin blockchain is safer, Ethereum blockchain can have many more uses. It’s up to the investor to decide which project to support and put his money into.
Before investing in any crypto we believe that you must make your own research about the project. You can do that by visiting BCBitcoin – a cryptocurrency trading platform, with a lot of useful guides and articles about various cryptocurrencies including Bitcoin and Ethereum. Moreover, the platform lets you buy and sell cryptocurrency, swap cryptocurrency, store crypto assets online, and use customer service to get answers to any of your inquiries.