Cory Klippsten, the CEO of Swan Bitcoin, shares his thoughts about what “the competition for liquidity” between Bitcoin and Ethereum will unfold following the latter’s transition to a proof-of-stake model, Bitcoin pr news distribution service .
Although Ethereum ( ETH) supporters are excited about the success of the Merge, Swan Bitcoin CEO Cory Klippsten believes the upgrade will send Ethereum to “slow slide to irrelevance and eventual death.”
According to Klippsten that the Ethereum community chose the wrong time to detach the platform from its dependence on energy. In a time when many parts of the world face massive energy shortages, he believes that the environmental story was being put on the backseat.
A candid interview, exclusive to Cointelegraph, Klippsten said “I think the world is just waking up to reality and Ethereum just went way off into Fantasyland at the exact wrong time.”
“It is really bad timing to launch this narrative. It’s just a bit silly.”, Bitcoin press news distribution service ,
According to certain predictions that institutional capital will gradually abandon Bitcoin ( BTC) and shift to Ethereum unless Bitcoin isn’t able to move away from the energy-intensive proof-ofwork system.
Klippsten discredits this story as untrue, pointing out that in the end every technology that is valuable has to depend on the energy of the world to work properly.
“If you don’t have some tethering to the real world using laws of physics, you’re basically off creating some kind of like metaverse fantasyland”.
Source from encyclopedia