Bitcoin in Brief Monday: Twitter Wields the Banhammer
Jackson Palmer is best known as the creator of dogecoin, but since cutting ties with the meme coin, he’s gone on to perform some of his best work in excoriating dubious crypto projects. On Saturday, he turned his attention to Hashgraph, the subject of his next video review, and after reading their documentation he had a few concerns. For the record, Hashgraph is a much hyped “next generation” blockchain that promises to outperform the ethereums and bitcoins of the world on all fronts. That performance comes with a catch though:
As Jackson pithily puts it, “You can just taste the decentralization”. The entire thread is worth reading for the numerous red flags the doge designer uncovers. All these new blockchains promise high throughput and scalability but are about as decentralized as Visa. Should the shit ever hit the fan and governments try to shut them down, it could be done in the flick of a switch. There’s a reason why bitcoin, for all its slowness, is worth 10x more than any other cryptocurrency. 7 uncensorable tps is worth more than 1,000 censorable tps.
Vitalik Buterin Doesn’t Fear ASICs
Monero may have forked in a bid to stay ahead of Bitmain’s ASIC miners, but it looks like ethereum won’t be following suit. The Antminer E3 has recently launched with the specific intent of targeting ethereum’s algorithm. In a developer meeting on Friday, Vitalik commented: “Getting everybody to upgrade is likely to be fairly chaotic and detract from more important things. So, at this point I personally lean quite significantly towards no action.” Given that ethereum will be switching from PoW to PoS eventually, mining concerns would seem to be minor concerns for the ethereum founder.