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Title: Is Ethereum too tied to Vitalik Buterin? Post by: Abiky on June 26, 2020, 11:21:37 PM Ever since Ethereum came into inception, Vitalik Buterin has been leading the way for the project's success. While I have nothing against this, sometimes I think it defeats the purpose of crypto in its entirety. There's a reason why Satoshi created Bitcoin in the first place without revealing his/her identity to the public. The fact that everybody knows who created Ethereum, could greatly put the project at risk in the future. For instance, if Vitalik dies or something bad happens to him, the price per Ethereum could plummet on the market. Everything Vitalik says has an impact (either directly or indirectly) on the project itself. With Bitcoin, that's not the case since no one knows who Satoshi was. His/her contribution led Bitcoin to take its own steps after he/she left the project. If Ethereum wants to become a truly decentralized cryptocurrency, the project needs to distance itself from the founder.
What are your thoughts? Do you think Ethereum is too tied to Vitalik Buterin? If not, please explain why. Your input will be greatly appreciated. :) Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: bigcash2011 on June 26, 2020, 11:29:47 PM Ever since Ethereum came into inception, Vitalik Buterin has been leading the way for the project's success. While I have nothing against this, sometimes I think it defeats the purpose of crypto in its entirety. There's a reason why Satoshi created Bitcoin in the first place without revealing his/her identity to the public. The fact that everybody knows who created Ethereum, could greatly put the project at risk in the future. For instance, if Vitalik dies or something bad happens to him, the price per Ethereum could plummet on the market. Everything Vitalik says has an impact (either directly or indirectly) on the project itself. With Bitcoin, that's not the case since no one knows who Satoshi was. His/her contribution led Bitcoin to take its own steps after he/she left the project. If Ethereum wants to become a truly decentralized cryptocurrency, the project needs to distance itself from the founder. I think ethereum is the only blockchain network other than bitcoin that has developers working both independently and under a funded contract all around the world from various locations so i do not think that a project of such a scale can depend on a single person, no, never. Even when similar question was asked to Vitalik he clearly said that even i leave Eth tomorrow the project will continue. This just proves the solid decentralized roots of Ethereum as a project and that is the reason why market trusts ethereum the most as an alt.What are your thoughts? Do you think Ethereum is too tied to Vitalik Buterin? If not, please explain why. Your input will be greatly appreciated. :) Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: cryptogeek101 on June 27, 2020, 08:03:01 AM Ever since Ethereum came into inception, Vitalik Buterin has been leading the way for the project's success. While I have nothing against this, sometimes I think it defeats the purpose of crypto in its entirety. There's a reason why Satoshi created Bitcoin in the first place without revealing his/her identity to the public. The fact that everybody knows who created Ethereum, could greatly put the project at risk in the future. For instance, if Vitalik dies or something bad happens to him, the price per Ethereum could plummet on the market. Everything Vitalik says has an impact (either directly or indirectly) on the project itself. With Bitcoin, that's not the case since no one knows who Satoshi was. His/her contribution led Bitcoin to take its own steps after he/she left the project. If Ethereum wants to become a truly decentralized cryptocurrency, the project needs to distance itself from the founder. What are your thoughts? Do you think Ethereum is too tied to Vitalik Buterin? If not, please explain why. Your input will be greatly appreciated. :) I think Vitalik Buterin despite being a co-founder of Ethereum blockchain, might not have much negative influence on the blockchain, I believe there are some other developers involved in the project which i think can handle the project in the event of the death of Vitalik. The Ethereum blockchain is purely a decentralized blockchain with smart contract applications and developers are ready to continue with the project to achieve its future positive goals Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: tsaroz on June 27, 2020, 09:06:17 AM Ever since Ethereum came into inception, Vitalik Buterin has been leading the way for the project's success. While I have nothing against this, sometimes I think it defeats the purpose of crypto in its entirety. There's a reason why Satoshi created Bitcoin in the first place without revealing his/her identity to the public. The fact that everybody knows who created Ethereum, could greatly put the project at risk in the future. For instance, if Vitalik dies or something bad happens to him, the price per Ethereum could plummet on the market. Everything Vitalik says has an impact (either directly or indirectly) on the project itself. With Bitcoin, that's not the case since no one knows who Satoshi was. His/her contribution led Bitcoin to take its own steps after he/she left the project. If Ethereum wants to become a truly decentralized cryptocurrency, the project needs to distance itself from the founder. What are your thoughts? Do you think Ethereum is too tied to Vitalik Buterin? If not, please explain why. Your input will be greatly appreciated. :) I think Vitalik Buterin despite being a co-founder of Ethereum blockchain, might not have much negative influence on the blockchain, I believe there are some other developers involved in the project which i think can handle the project in the event of the death of Vitalik. The Ethereum blockchain is purely a decentralized blockchain with smart contract applications and developers are ready to continue with the project to achieve its future positive goals Unlike many other blockchain that has a close team and a showy founding member, Ethereum is a much more diverse project with a diverse community directly involved in it's development. Go to the official org site of Ethereum and they bring Vitalik just among some early contributors. He's not like so much of a limelight as Justin Tron and has a lesser involvement in decision making about the blockchain. Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: Herbert2020 on June 27, 2020, 09:09:41 AM of course it is because there is nobody else to make any decisions and there is not much of a network to analyze those decisions as a proposal and decide whether they wanted to accept them or not. that is what happens when the projects become centralized, only one person or one team makes all the decisions just like banking system!
Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: coinsycrip09 on June 27, 2020, 01:15:25 PM maybe because Vitalik Buterin is the main designer of Ethereum and also one of the developers who succeeded in making ethereum as the second favorite altcoin after bitcoin, that's why the name Vitalik Buterin is always associated with ethereum.
but i think, if one day Vitalik dies or something bad happens to him, i think ethereum will continue. Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: Pomogator on June 27, 2020, 01:56:47 PM I agree with this statement. Tesla has the same stock situation. If Elon does something bad, then Tesla stocks fly down the mountain. It will be really interesting to see what happens to the top 2 coin after the “Face” incident of the coin.
Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: kingzpro on June 27, 2020, 02:51:23 PM Ever since Ethereum came into inception, Vitalik Buterin has been leading the way for the project's success. While I have nothing against this, sometimes I think it defeats the purpose of crypto in its entirety. There's a reason why Satoshi created Bitcoin in the first place without revealing his/her identity to the public. The fact that everybody knows who created Ethereum, could greatly put the project at risk in the future. For instance, if Vitalik dies or something bad happens to him, the price per Ethereum could plummet on the market. Everything Vitalik says has an impact (either directly or indirectly) on the project itself. With Bitcoin, that's not the case since no one knows who Satoshi was. His/her contribution led Bitcoin to take its own steps after he/she left the project. If Ethereum wants to become a truly decentralized cryptocurrency, the project needs to distance itself from the founder. Obviously as the founder of ethereum network he definitely has an influence on the overall project and even his interviews and tweets sometimes put clear effect on the market but still i think that ethereum is much more decentralized than most of other networks that are run like a private company or corporate enterprise and after implementation of eth 2.0 i think network will be moving towards more decentralization which would be great for ethereum over longterm.What are your thoughts? Do you think Ethereum is too tied to Vitalik Buterin? If not, please explain why. Your input will be greatly appreciated. :) Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: jacafbiz on June 27, 2020, 03:02:39 PM Negative influence No, or let me say not for now. People do not understand that Vitalik is the center holding all the pieces together, I will only have concern if he decided to be taking authoritative decision which could hidden the success of the chain. People also need to remember that Ethereum is still a POW project, it seems people have forgotten this but the main discussion is about the POS governance to be implemented in Eth 2.0
Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: FanEagle on June 27, 2020, 08:08:47 PM This is probably the only thing about ethereum that I am not really comfortable about. Is Vitalik an important figure in ethereum world? Of course he is, he works on making ethereum a lot better and he talks about ethereum and basically leads a team of developers for ethereum. However is he the owner of it like ICO project heads? He is not, he doesn't have ethereum in unfair advantage.
Let me explain you this way, if someone does ICO for their project, they have ALL the tokens they created and sell it to you, now that is not decentralized right? That sounds centralized and basically controlled by one person. Now, Vitalik is not like that at all, dude just runs a developer team. However he is not unrelated neither right? He is still a quite influential. So, I can't decide if he is too involved or not. Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: Krislaw on June 27, 2020, 08:34:18 PM Know that Ethereum is where it is today because of Vitalik and the developers working under the projects. Same as other project CEOs.
I always think of it that if other projects decided to keep their identity anonymous like the founder of Bitcoin, there might have been a war between the government and crypto world. There's still decentralization presently to me. It's still better as it is now. Use case is what I think is very important in a project. Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: dentolas on June 27, 2020, 09:23:36 PM As someone already said, Ethereum has very solid decentralized roots, so it is not depending solely of Vitalik existance, but I do agree that the market seems to look at Ethereum strenght as being directly linked to Vitalik geniality. On a small market like crypto this kind of thing can have an impact if something happens to him, but it would be temporary
Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: hatshepsut93 on June 27, 2020, 10:26:57 PM Ethereum can do without Vitalik, there's plenty of good developers who work on the protocol, but right now Vitalik has a lot of say when it comes to important decisions, he decides when Ethereum forks, the development course, he decides when to revert old blocks to undo hacks. I think Ethereum would be better if Vitalik played a much smaller role and the key decisions were made by community and developers together like it's done in Bitcoin.
Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: CaVO32 on June 27, 2020, 10:37:55 PM Ever since Ethereum came into inception, Vitalik Buterin has been leading the way for the project's success. While I have nothing against this, sometimes I think it defeats the purpose of crypto in its entirety. There's a reason why Satoshi created Bitcoin in the first place without revealing his/her identity to the public. The fact that everybody knows who created Ethereum, could greatly put the project at risk in the future. For instance, if Vitalik dies or something bad happens to him, the price per Ethereum could plummet on the market. Everything Vitalik says has an impact (either directly or indirectly) on the project itself. With Bitcoin, that's not the case since no one knows who Satoshi was. His/her contribution led Bitcoin to take its own steps after he/she left the project. If Ethereum wants to become a truly decentralized cryptocurrency, the project needs to distance itself from the founder. I think ethereum is the only blockchain network other than bitcoin that has developers working both independently and under a funded contract all around the world from various locations so i do not think that a project of such a scale can depend on a single person, no, never. Even when similar question was asked to Vitalik he clearly said that even i leave Eth tomorrow the project will continue. This just proves the solid decentralized roots of Ethereum as a project and that is the reason why market trusts ethereum the most as an alt.What are your thoughts? Do you think Ethereum is too tied to Vitalik Buterin? If not, please explain why. Your input will be greatly appreciated. :) I think that is a good answer here. Not many people know about this statement of Buterin, that even if he is not there or will leave anytime, Eth platform can still stand on its own. But we can't deny the fact that almost all users are tying up Buterin with Eth, so if in case he will leave eth, it may affect the position of eth in the market, even if they can continue with their respective developments. That is the dilemma here, if the supposed leader will "abandon" his platform, people will speculate a lot. But for now, Buterin is strongly supporting his platform. Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: rexxarofmoknathal on June 27, 2020, 10:47:47 PM As someone already said, Ethereum has very solid decentralized roots, so it is not depending solely of Vitalik existance, but I do agree that the market seems to look at Ethereum strenght as being directly linked to Vitalik geniality. On a small market like crypto this kind of thing can have an impact if something happens to him, but it would be temporary While I understand how the founder through his actions may influence the market price of ETH, I think what needs to be considered is the technology this project developed. And since ETH is highly engraved in the crypto industry I think even without Vitalik the area is going to grow and prosper, though initial damage might be possible. Remember, there's no point in attaching people too much to their outputs since these outputs may be carried on/endorsed by others, and I think ETH has reached the point where others would help take this even further... Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: 20kevin20 on June 27, 2020, 11:33:02 PM While I don't think his existence in the Ethereum team is a danger, I think the influence he has over his creation is dangerous in many ways.
A lot of people, I mean too many people think that if Vitalik ever turns out to be a criminal, dies or something, Ethereum would lose the game. Correlating a cryptocurrency with a person's fate just because they created the cryptocurrency makes no sense. If Satoshi broke the silence right now and you found out he was actually a child predator, it'd make no change to Bitcoin. It's still there and Satoshi's reveal would have absolutely zero impact over a coin. All that would be changed is that we'd know a mysterious person's identity. But there are too many people out there who act based on this stuff and it's actually them making the unnecessary change. Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: SlimShadyMmp on June 27, 2020, 11:36:43 PM I like to think of Ethereum as a collective project run by various community in different level then maybe Buterin as the main public speaker for the project Yes he is part of the development and a major part for it but I think apart from BTC that has anonymous Creator the rest have team behind the coin that are well known so is no big deal to me
Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: coupable on June 27, 2020, 11:48:34 PM I would also like to think that Ethereum is a collective concept where everybody can contribute, but this is not the truth. If you can develop and participate in the progress of ethereum which is already done by many of us, we can't deny that Buterin still have the ability to change/edit/ignore/add/erase the full code at any time like it happened before with the old forks of Ethereum. This means that we still need to trust him.
Some alternatives are maybe better than Ethereum, but Ethereum still has some unique features which no alternatoive can compete with it. Let's not to forget that Ethereum reach a great success caused by the smart contracts made to run an ICO or shitty coin created from a thin of air, but it's still a valuable technology that should be opened for everybody and not controlled by a single entity like it's today . Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: Darkuso on June 28, 2020, 12:17:05 AM Feels like it, I'm hoping this change with ETH 2.0.
Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: pixie85 on June 28, 2020, 01:09:20 AM I also think it's too centralized and Vitalik is like the CEO of a company, running things.
He's smart and that helps but if something were to happen to him the price would crash for sure. He's both a strong and a weak point here. Strong as long as he's healthy and actively engaged in the project but things can change very fast. Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: pilosopotasyo on June 28, 2020, 04:38:34 AM Ever since Ethereum came into inception, Vitalik Buterin has been leading the way for the project's success. While I have nothing against this, sometimes I think it defeats the purpose of crypto in its entirety. There's a reason why Satoshi created Bitcoin in the first place without revealing his/her identity to the public. The fact that everybody knows who created Ethereum, could greatly put the project at risk in the future. For instance, if Vitalik dies or something bad happens to him, the price per Ethereum could plummet on the market. Everything Vitalik says has an impact (either directly or indirectly) on the project itself. With Bitcoin, that's not the case since no one knows who Satoshi was. His/her contribution led Bitcoin to take its own steps after he/she left the project. If Ethereum wants to become a truly decentralized cryptocurrency, the project needs to distance itself from the founder. What are your thoughts? Do you think Ethereum is too tied to Vitalik Buterin? If not, please explain why. Your input will be greatly appreciated. :) I don't think so, Buterin can leave the project and every developer can take it and continue what Buterin has started, Ethereum is very much attached now to Vitalik because it is still a work in progress, remember it's transitioning from mining to staking, so there are still a lot of things Vitalik to oversee, he can leave in the future and it will still develop. Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: residivis on June 28, 2020, 05:01:49 AM Quote of course it is because there is nobody else to make any decisions and there is not much of a network to analyze those decisions as a proposal and decide whether they wanted to accept them or not. that is what happens when the projects become centralized, only one person or one team makes all the decisions just like banking system! I also agree because if we are not consistent in the work of individuals or groups there will be many problems that make many people fall into things that are not good. besides that if there is someone or a serious team then we better give trust and not waste their work.Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: Gayong88 on June 28, 2020, 05:15:02 AM In my opinion it was discussed earlier by the stakeholders there. I am sure it will proceed as it is without dependence whether it is being led now by the founder or the next generation.
Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: deathcode on June 28, 2020, 05:23:00 AM I also agree because if we are not consistent in the work of individuals or groups there will be many problems that make many people fall into things that are not good. besides that if there is someone or a serious team then we better give trust and not waste their work. we certainly know how the development team from ethereum has been trying hard until now to be able to survive in the crypto market. a lot of development has been done and I don't think there is any need to doubt the quality of the ethereum developers. they have a strong team that can make ethereum survive so far.Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: rz20 on June 28, 2020, 05:48:31 AM Vitalik is the founder of the Ethereum and so of course whatever he says will directly or indirectly impact the project and the same is the case with any other company out there. Words from CEOs or founders will always have some impact on the project.
Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: zasad@ on June 28, 2020, 08:52:39 AM https://medium.com/@chromaticcapital/eth2-for-dummies-11ff9b11509f
Quote Here’s a list of the teams building ETH2 (in no particular order): You see that the best programmers are working on this project in different parts of the world.ChainSafe Systems 30+ person company based in Toronto, Ontario, with 5 developers working on their ETH2 client Grassroots developers who met each other at the Toronto Ethereum Developer Meetup Building a client called Lodestar written in JavaScript PegaSys 50-person team distributed around the world at ConsenSys, the largest company in the Ethereum ecosystem Built an enterprise-friendly ETH1 client called Pantheon Have a team of researchers that heavily work on the ETH2 specification Building a Java-based client called Artemis, optimized for enterprise use Harmony 4-person team based in Russia Building a Java Ethereum client Not much information publicly available about them yet Potentially merging with PegaSys/Artemis Parity Technologies 60+ person company based in Berlin, with a large remote workforce (not all working on ETH2) Received $5 million from the Ethereum Foundation to build an ETH2 client named Substrate Shasper Parity is also the team behind the ambitious interoperability blockchain project Polkadot, which some consider a competitor to Ethereum Built and maintained the second most popular client in ETH1, also called Parity Prysmatic Labs 6-person team distributed around the US Actively posting updates on their blog, which are a great way to learn about and follow ETH2 more broadly Building a client called Prysm intended for a wide variety of mainstream usage, similar to Geth in ETH1 Sigma Prime 4-person team based in Sydney, Australia Cybersecurity experts with very strong academic/software development backgrounds Building a client called Lighthouse, suited for mainstream use cases Status 8-person team based all over Europe Working on a light client called Nimbus, meant to be run using smartphones and other ‘light’ environments Trinity 4-person team contracted to work by the Ethereum Foundation Building a lightweight client which will serve as a prototype for more advanced implementations Nethermind 7-person team based in London and Poland Building a Windows client for ETH2 in .NET Ethereum can no longer be stopped. I do not think that Vitalik now has an important role in decision making. Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: Herbert2020 on June 28, 2020, 02:51:08 PM Quote of course it is because there is nobody else to make any decisions and there is not much of a network to analyze those decisions as a proposal and decide whether they wanted to accept them or not. that is what happens when the projects become centralized, only one person or one team makes all the decisions just like banking system! I also agree because if we are not consistent in the work of individuals or groups there will be many problems that make many people fall into things that are not good. besides that if there is someone or a serious team then we better give trust and not waste their work.the whole point of creating decentralized systems is that people no longer have to "give their trust" to anybody or any team. instead they replace it by either their own judgement (which i achieved when they run full nodes and vote for any change like any democracy in its true meaning) or place it in the judgement of the majority of the network which should consist of enough number of independent individuals to eliminate the chances of one group taking over. otherwise if you want to put your trust in 1 person then why even bother with a cryptocurrency when enough centralized companies exist? Title: Re: Is Ethereum too tied to Vitalik Buterin? Post by: Abiky on June 29, 2020, 06:52:00 PM Unlike many other blockchain that has a close team and a showy founding member, Ethereum is a much more diverse project with a diverse community directly involved in it's development. Go to the official org site of Ethereum and they bring Vitalik just among some early contributors. He's not like so much of a limelight as Justin Tron and has a lesser involvement in decision making about the blockchain. That's certainly true, mate. Compared with TRON's Justin Sun, I think that Vitalik has less involvement in the Ethereum project's direction that I've thought it would be. As you've said earlier, there are many developers working on the project with geographical diversity. This makes Ethereum much more decentralized than most other smart contract platforms on the market today (like EOS or TRON). Vitalik Buterin could be an advisor for the project, instead of its leader. That way, Ethereum could lead in the right direction. I was surprised to see how a rumor of Vitalik's death, led to a massive decline in ETH's price some time ago. This shows us that people directly link the Ethereum project to the founder itself. If he dies, prices will go down the drain. A recovery will be feasible, but it will take longer than usual. What's important here is that the project remains as decentralized as possible. If the community works together with Vitalik, the Ethereum project could reach new heights. Some say that Ethereum is much more decentralized than Bitcoin, due to its wide diversity of geographically distributed nodes. In other words, ETH nodes are more distributed worldwide than those on the BTC network. All in all, time will tell us if Ethereum will be able to maintain its decentralization or all the other way around. Just my thoughts ;D |