PlanB Calls Ethereum 'Real Shitcoin' Based on Potential Vulnerabilities

The ongoing slowdown in the price performance of Ethereum ($ETH) has caught the attention of notable crypto analysts. The popular Bitcoin analyst PlanB has criticized $ETH as a “real shitcoin,” while questioning the top altcoin’s long-term viability when compared with $BTC.

Crypto analyst PlanB, known for the stock-to-flow Bitcoin price model, has called Ethereum a “real shitcoin” and questioned how it can survive in the long term when compared to Bitcoin.

This comes after Ben Horowitz, a venture capitalist, said that in the past 18 months, ‘DeFi summer’ and the rapid rise in the price of altcoins such as ETH have wiped out nearly all crypto startups.

According to Horowitz, this is because the founders of these startups failed to follow the advice that he had given them in a 2015 post.

Buterin Criticizes Stock-to-Flow Model

Earlier this week, Buterin took to social media to criticize the stock-to-flow model, saying that it’s “not clear what the deep principles are.”

Buterin said that he prefers models that “try to connect the behavior of the system to the underlying cryptoeconomic primitives.”

The Ethereum co-founder added that he’s not saying that stock-to-flow is “a bad model,” but that it’s “not clear why it works.”

PlanB took to social media to reply to Buterin’s criticism of the stock-to-flow model.

The analyst said that stock-to-flow is a simple model that seems to work well in explaining the long-term price trend of Bitcoin.

According to PlanB, it’s also a model that people can use to think about the value of Bitcoin in the future.

The analyst went on to question how Ethereum can survive in the long term when compared with Bitcoin.

PlanB noted that Ethereum has a flexible monetary policy, proof-of-stake consensus, premined coins and is more centralized than Bitcoin.

According to the analyst, these are the factors that create crucial vulnerabilities in the Ethereum ecosystem.

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