What Does 'Bitcoin Maxi' Jack Dorsey Think Of Ethereum (ETH) Merge?

Block Inc SQ CEO Jack Dorsey hinted at what his thoughts were about the  Ethereum ETH/USD Merge, citing a blog by a fellow Bitcoin BTC/USD maximalist who called the space outside the apex cryptocurrency "shitcoin-land."

What Happened: On Sept. 14, Dorsey, the former CEO of Twitter Inc TWTR, shared a link to a blog titled “A Bitcoiner’s Guide to Proof of Stake” by Scott Sullivan.

In the blog, Sullivan describes Ethereum’s upcoming network upgrade to Proof-of-Stake as “worth paying attention to” so that Bitcoiners can understand the differences between Proof-of-Stake (PoS) and Bitcoin’s existing consensus mechanism Proof-of-Work (PoW).


“Once Ethereum cleanses itself of the 'dirty' and 'wasteful' externalities from PoW, we can expect the gloves to come off in the narrative war, and I think Bitcoiners should be ready to punch back,” said Sullivan.

The blog goes on to make a case for why PoW is superior to PoS based on a number of ideas like decentralization, network security, permissionless and incentive structure.

Screenshot from Sullivan's blog

Sullivan concludes by saying that those who want to live in a world where their money “will store its value far into the future without changing on a whim,” then they should think carefully about the trade-offs between PoS and PoW.

Price Action: At press time, BTC was trading at $20,167, up just 0.21% over the last 24 hours, as per data from Benzinga Pro. ETH was trading at $1,621, outpacing BTC and Dogecoin DOGE/USD as traders anticipated the Merge.

Read Next: 6 Hours Until Ethereum (ETH) Changes Forever: What You Need To Know Before The Merge

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Posted In: CryptocurrencyNewsMarketsBitcoinEthereumJack DorseyScott Sullivan
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