{"id":18127,"date":"2024-10-28T12:36:36","date_gmt":"2024-10-28T10:36:36","guid":{"rendered":"https:\/\/forklog.com\/en\/vitalik-buterin-defends-ethereum-foundations-cryptocurrency-sales\/"},"modified":"2024-10-28T12:36:36","modified_gmt":"2024-10-28T10:36:36","slug":"vitalik-buterin-defends-ethereum-foundations-cryptocurrency-sales","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/vitalik-buterin-defends-ethereum-foundations-cryptocurrency-sales\/","title":{"rendered":"Vitalik Buterin Defends Ethereum Foundation&#8217;s Cryptocurrency Sales"},"content":{"rendered":"<p>Ethereum co-founder Vitalik Buterin has addressed criticism regarding the periodic sales of cryptocurrency from the Ethereum Foundation&#8217;s (EF) reserves, which some argue exert pressure on its price.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">bro the ETH foundation is paying researchers and devs that are responsible for<\/p>\n<p>(i) ethereum not bleeding 5M ETH\/year to proof of work<br \/>(ii) your fees being low today<br \/>(iii) your txs getting included in < 30s instead of like 1-30 min (eip 1559)\n\nshow some respect<\/p>\n<p>\u2014 vitalik.eth (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1849965496151789949?ref_src=twsrc%5Etfw\">October 26, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The programmer noted that the organization funds the work of researchers and developers who ensure the network&#8217;s infrastructure, development, and security.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;In reality, the better criticism should be why EF always dumps on the market and destroys the ETH chart when they could easily set a limit order to avoid harming investors?&#8221; <a href=\"https:\/\/x.com\/BiancaViceroy\/status\/1849995881736503391\">questioned<\/a> data analyst Bianca Viceroy.<\/p>\n<\/blockquote>\n<p>Buterin responded that assets are indeed sold in this manner, and &#8220;sending another 35,000 ETH to Kraken&#8221; <a href=\"https:\/\/t.co\/i6vk6PQXfC\">does not imply an immediate dump.<\/a><\/p>\n<p>Puffer Finance advisor Jason Chen inquired why EF does not adopt a model of covering expenses through income from staking reserves.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">One internal reason why has been that we don&#8217;t want to be in the situation of being forced to make an &#8220;official choice&#8221; in the event of a contentious hard fork.<\/p>\n<p>One interesting idea around this that is being considered is giving some grants in the form of &#8220;you can stake our ETH,\u2026<\/p>\n<p>\u2014 vitalik.eth (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1850416571942068525?ref_src=twsrc%5Etfw\">October 27, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Why do you insist on regularly selling ETH without considering market sentiment and everyone&#8217;s voice? You have always claimed that PoS Ethereum is extremely secure, why not stake ETH yourself? Are you lacking confidence in the mechanism?&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>Buterin cited the main reason for EF&#8217;s rejection of such a scheme as the desire to maintain neutrality in the event of a &#8220;contentious hard fork.&#8221; However, the organization is considering the possibility of providing grants in cryptocurrency, which recipients could lock up and retain income from, he added.<\/p>\n<p>As another way to address this issue, the programmer mentioned &#8220;spreading legitimacy and resources&#8221; across multiple entities that would &#8220;credibly represent Ethereum.&#8221;<\/p>\n<p>Regarding accusations of personal cryptocurrency sales, Buterin emphasized that his ETH reserves have &#8220;even increased&#8221; over the past month.<\/p>\n<p>As reported by researcher Justin Drake, EF has funds for approximately 10 years of operation, based on the current Ethereum exchange rate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum co-founder Vitalik Buterin has addressed criticism regarding the periodic sales of cryptocurrency from the Ethereum Foundation&#8217;s (EF) reserves, which some argue exert pressure on its price. bro the ETH foundation is paying researchers and devs that are responsible for (i) ethereum not bleeding 5M ETH\/year to proof of work(ii) your fees being low today(iii) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18126,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1138,200],"class_list":["post-18127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-opinions","tag-vitalik-buterin"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=18127"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18127\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/18126"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}