While Ethereum (ETH) fans are passionate about the effective Merge, Swan Bitcoin Chief executive officer Cory Klippsten believes the upgrade may lead Ethereum right into a “slow slide to irrelevance and eventual dying.”
Based on Klippsten, the Ethereum community selected the incorrect moment for treatment of protocol from the reliance upon energy. As numerous parts around the globe have severe energy shortages, he believed the ecological narrative takes the rear seat.
Within an exclusive interview with Cointelegraph, Klippsten stated “I think the planet is simply getting out of bed to reality and Ethereum just went way off into Fantasyland in the exact wrong time.”
“It is simply terrible timing to unveil that narrative. It simply looks stupid.”
Based on some predictions, institutional capital will more and more turn from Bitcoin (BTC) and flow into Ethereum unless of course Bitcoin doesn’t escape from the power-consuming proof-of-work system.
Klippsten dismisses this narrative as false, citing that, ultimately, all valuable technologies have to depend on real-world energy to operate properly.
“Without having some tethering towards the real life using laws and regulations of physics, you are essentially off creating some type of like metaverse fantasyland”.