Ethereum (ETH) co-founder Vitalik Buterin argued that, like Ethereum, Bitcoin (BTC) has its own potential bombs waiting to explode.The ecosystem around Ethereum could see failures and hacks, discussed the participants of The Tim Ferriss Show yesterday. To this, Buterin said: \u201cI think the Bitcoin ecosystem does have its own ticking time bomb demons too, like Tether is one example.\u201dHe did not elaborate on this any further.Tether is the issuer of the most popular stablecoin, tether (USDT) and is being criticized for the lack of transparency. However, as reported, in a recent settlement with the New York Attorney General\u2019s office, Tether was obliged to disclose how its stablecoin is backed in more detail. \u201cThese will be published on a quarterly basis. We anticipate that these will be published on Tether\u2019s website,\u201d Stuart Hoegner, General Counsel at Tether said.The NYAG investigation also confirmed that:Tether had no access to bankingheld no reserveswasn\u2019t backed by the dollarand covered up massive losses.That said, according to analysts at JPMorgan, if traders were to lose faith in tether, the bitcoin market would likely suffer \u201ca severe liquidity shock.\u201d Around 50%-60% of bitcoin trades for USDT since 2019, it said.However, USDT is also being used in the ETH trading. For example, the ETH\/USDT trading pair on major crypto exchange Binance is responsible for 5% (USD 1.5bn) of the total ETH trading volume in the past 24 hours. In comparison, BTC\/USDT hit 6.7% (USD 3.8bn).Meanwhile, back to the podcast with Buterin, he described Ethereum as \u201ca general-purpose blockchain.\u201d It expands on the Bitcoin approach, Buterin said, wherein instead of having rules that are designed around supporting one application, Ethereum aimed to make \u201csomething more general-purpose where people can just build their own applications, and the rules for whatever applications they built can be executed, implemented on the Ethereum\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Ethereum (ETH) co-founder Vitalik Buterin argued that, like Ethereum, Bitcoin (BTC) has its own potential bombs waiting to explode.The ecosystem around Ethereum could see failures and [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/3899"}],"collection":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/comments?post=3899"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/3899\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/media?parent=3899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/categories?post=3899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/tags?post=3899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}