‘Tether is a Bitcoin term bomb’ - Founder of Ethereum - Kakiforex | Forex markets for the smart money. ‘Tether is a Bitcoin term bomb’ - Founder of Ethereum ‘Tether is a Bitcoin term bomb’ - Founder of Ethereum

March 11, 2021

‘Tether is a Bitcoin term bomb’ - Founder of Ethereum

 In a recent podcast show, Ethereum (ETH) co-founder Vitalik Buterin revealed Bitcoin (BTC) has its own anticipation bomb that will explode at any moment.

Naval Ravikant, host of The Tim Ferriss Show has mentioned how the crypto community expects hacking failures and crimes in the ecosystem around ETH compared to BTC.

In response, Buterin told: "I think the Bitcoin ecosystem has a worsening time bomb as well, Tether for example."

The figure, however, did not elaborate further on his allegations.

Referring to Buterin’s allegations about Tether, it was once criticized for its non -transparent features. After the founders of stablecoin, USDT agreed to pay $ 18.5 million in compensation last month, they were asked to disclose in more detail how the USDT was supported.

Tether is also accused of pumping BTC prices using unsupported tether. However, the allegations were dismissed immediately.

As a result, some analysts argue that if investors no longer rely on tethering, the bitcoin market is very risky to witness a decline in liquidity. Records show around 50% -60% of bitcoin has been traded for USDT since 2019.

According to Buterin again, the value of ETH depends on how useful the Ethereum network is to its users. Meanwhile, BTC relies on bitcoin as a currency. The figure describes Bitcoin as a "must have" blockchain.

At the time of writing, Bitcoin is trading at $ 55,674, jumping to 3.2% and Ether worth $ 1,786 slightly down 1.2% in 24 hours.