In his latest post on platform X, analyst PlanB criticized Ethereum, expressing concerns about its centralization and token distribution model shortcomings.
PlanB's Criticism of Ethereum
On April 20, PlanB published a post stating that 'Ethereum is really not looking good now.' He characterized Ethereum as 'centralized and premined shitcoin,' emphasizing that such projects, like ETH, 'are harmful' and deserve ridicule.
Conflict with Vitalik Buterin
In June 2022, Vitalik Buterin, co-founder of Ethereum, criticized analyst PlanB for his price analysis method based on the Stock-to-Flow model. In response, PlanB claimed that Ethereum lacks a fixed supply schedule and criticized the token distribution model of Ethereum.
Financial Model and Its Consequences
PlanB noted that 'ETH has never surpassed BTC' and highlighted issues with Ethereum's token distribution model. He mentioned that dumping from the Ethereum Foundation is 'attached to the premine,' which is a significant red flag. This statement came in the context of his criticism of the Stock-to-Flow model, which mispredicted BTC's price.
PlanB's statements regarding Ethereum spark lively discussions within the cryptocurrency community, emphasizing the ongoing disagreements among supporters of different financial models and approaches.
