Recently Vitalik Buterin, the founder of the cryptocurrency Ethereum, donated 500 ETH coins, which worth $2,030,580, to India’s crypto COVID-19 relief fund. See the news report here.
As BitCoin, Ethereum uses Proof-of-work to keep its block-chain secure, which necessarily consumes huge amount of electricity. Also as BitCoin, ETH’s price is very volatile. This makes it unsuitable for day-to-day payment. So far, the only real “application” of Ethereum is perhaps speculation.
So should any aid organization accepting ETH donations, which seems to me to be money obtained in quite unethical ways.
[Question] Should aid organizations accept ETH donations?
Recently Vitalik Buterin, the founder of the cryptocurrency Ethereum, donated 500 ETH coins, which worth $2,030,580, to India’s crypto COVID-19 relief fund. See the news report here.
As BitCoin, Ethereum uses Proof-of-work to keep its block-chain secure, which necessarily consumes huge amount of electricity. Also as BitCoin, ETH’s price is very volatile. This makes it unsuitable for day-to-day payment. So far, the only real “application” of Ethereum is perhaps speculation.
So should any aid organization accepting ETH donations, which seems to me to be money obtained in quite unethical ways.