25 Nov '14, 5pm

Vitalik Buterin Wins 2014 World Technology Award, Denounces Bitcoin Maximalism

Vitalik Buterin Wins 2014 World Technology Award, Denounces Bitcoin Maximalism

The big issue alt devs seem to get behind is this idea that you can’t build everything on top of bitcoin because at some point the strain will be too much. The problem with this theory is just that…it’s a theory and there is no factual evidence to suggest that there would actually be a true failure of the bitcoin protocol by building all of these alternative technologies onto it. Projects like Ethereum and Paycoin and a few others is that they are assuming there will come a time where users of the bitcoin protocol will come to a realization that “Omg we’ve made a huge mistake! Bail!” The issue with this idea is that if such a situation were to happen and the entire Bitcoin protocol were to completely fail, It’s doubtful that there would then be all of this immediate trust in an alternate blockchain as the entire faith in the cryptocurrency environment would be put to quest...

Full article: https://www.cryptocoinsnews.com/vitalik-buterin-wins-2014...

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Vitalik Buterin Challenges the Idea of ‘Bitcoin Dominance… #VitalikButerin #Bitcoin

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