Ethereum co-founder Vitalik Buterin argues crypto beats gold and is a better bet. He also criticized gold as a decentralized alternative to money and even addressed it as “incredibly inconvenient” and “difficult to use, particularly when transacting with untrusted parties.”
Buterin emphasized how gold does not support secure storage options like multisig and has less adoption than crypto, which is a better bet in such scenarios.
He made these statements in response to American cartoonist Zack Weinersmith who expressed his opinion against crypto via tweet. He said that the only argument he has heard about crypto that makes sense within a believer’s own framework is that they don’t want centralized authority over money.
Weinersmith went on to say, “In that framework though, why not just go with gold?” These comments from the cartoonist prompted a defending tweet from Vitalik Buterin who has always been a strong proponent of crypto.
Not long ago, Vitalik suggested “partial block auctions” to counteract Ethereum censorship. To avoid centralization and other forms of manipulation of the Ethereum economic system, Vitalik Buterin seeks to limit the authority of builders.
