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‘Ethereum is complex and competitive, but it lacks….’



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The race between the king coin and the largest altcoin has been debated lately. While the top spot has been taken by Bitcoin and the chances of that changing in the near future are slim, but there have been interesting conversations on either side of the debate. Some believe that Ethereum is inching closer to the top spot while others remain skeptical of the alt.

Long-term Bitcoin advocate Michael Saylor yet again struck a rather bullish tone on Bitcoin in an interview with analyst Benjamin Cowen. The entrepreneur, when asked about the top alt- Ethereum, had a rather bizarre parallel to draw. 

He called Bitcoin a digital property and applauded upgrades like Taproot that make it better. On the other hand, the entrepreneur called Ethereum a decentralized platform that is “competing with big tech companies and the applications running on it are competing with finance companies and banks”

He further added that:

“It (Ethereum) is complex and competitive but it lacks regulatory clarity. The three big risk factors are complexity, competition, and clarity. It’s a lot more complex. Applications need to be built for functionality and performance. Bitcoin doesn’t need that. Adding functionality and performance adds the risk factor.”

Simply put, according to Saylor, Ethereum is more of a company since one makes Dapps on it and it provides a platform. He said that “if one has a billion dollars that they can either put on a digital property (BTC) or a digital company (Ethereum), it should be on Bitcoin”.

There were a lot of reactions to these statements. One such reaction came from George Tung’s podcast where he said:

“This was not a good interview. Ben asked some basic questions and the answers were just enormously long, convoluted, and defensive.”

The YouTuber in his video later underlined that Bitcoin maxis need to “stop bashing Ethereum and other alts”. Talking about Bitcoin maxis, Tung also spoke about Jack Dorsey’s tweet where he reiterated that he won’t buy Ethereum. The Twitter founder said ‘no’ to Ethereum once again despite the social media platform’s activities with Ethereum-based nonfungible tokens. 

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Varuni is a full-time journalist with AMBCrypto. She is interested in covering the socio-political aspects of U.S and South-Asian crypto markets. She is a post-graduate in mass communication with a specialization in Journalism and she has a keen eye for market trends.

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