Vitalik Buterin’s visit to Argentina drew the attention of the entire crypto community and all tickets quickly sold out to meet Vitalik, adding to his prominence in Ethereum and the industry as a whole.
Ethereum Will Continue to Grow With or Without Vitalik Buterin
According to an “AskVitalikBA” conference in Argentina on December 21, Ethereum founder Vitalik Buterin shared his views on cryptocurrency and political issues.
According to him, the proof-of-stake (PoS) model is more efficient and less prone to review. Additionally, he stated that even if he disappears for whatever reason, Ethereum will continue to grow.
Finally, Vitalik praised the Argentine people and criticized the government for saying the country was incompetent and different from its people. In addition, he also mentioned the importance of cryptocurrency in small countries, which is the real backbone of the crypto industry.
When asked what would happen if you disappeared from ETH, he said:
“With or without Vitalik Buterin, Ethereum will exist.”
One of the main differences between the two largest cryptocurrencies in the world right now has to do with their founders. Although Bitcoin creator Satoshi Nakamoto has disappeared and is no longer affiliated with the project, Ethereum still relies heavily on Vitalik Buterin.
Although his vision and command are now extremely important to Ethereum, Vitalik said that even if he goes away, the project can still move forward.
“I think the Ethereum community is huge. Even if I disappear for some reason it will still be a big blockchain, but of course, I won’t be going anywhere.”
This problem could have arisen in the context of fake news in 2017 that claimed Vitalik passed away, which caused the price of ETH to drop by around 30% in just a few hours.
Vitalik also took the opportunity to defend Proof of Stake (PoS) by saying:
“I believe that proof of the cheapness of a review is more resilient than proof of work.”xr
According to the creator of Ethereum, it’s harder for the government to censor PoS attendees, but since PoW uses a lot of energy and mining equipment, it’s easier for the government to find Pow attendees like China.
Intending to migrate to PoS next year, Vitalik also commented that scalability is currently a major challenge. He pointed out that an overly centralized agreement would also be considered a failure.
Cryptocurrencies in Emerging Markets like Argentina
Regarding the use of cryptocurrency in Argentina and similar economies, Vitalik emphasized that people in these economies can use cryptocurrencies to solve problems such as inflation and self-directed bureaucracy.
Ethereum founder Vitalik Buterin stated that he thinks the difference between [Argentina] and some of the more affluent countries is that while both get people excited about cryptocurrency, the people here deeply understand that this is a solution for them.”
Although many people are concerned about the cryptographic decisions made by large countries like the US and China, the crypto community really needs to focus on small countries as they are likely to lead this revolution like El Salvador.