Bitcoin advocate Michael Saylor casts doubt on ethereum becoming global money

MicroStrategy (NASDAQ:MSTR) CEO Michael Saylor, a popular bitcoin (BTC-USD) advocate, believes that ethereum's (ETH-USD) lack of ethical soundness makes it unlikely to become "global money," he said virtually at the Blockchain Economy Instanbul event Wednesday. "I need to know that no one at the Ethereum foundation, no individual can change the protocol because if they could change the protocol, it makes it a security and if it makes it a security, then it’s not going to become global money," Saylor explained. Furthermore, Saylor pointed out that the Ether (ETH-USD) "doesn’t look like it's going to be completed or stable for another 36 months," citing a speech delivered by Ethereum co-founder, Vitalik Buterin, who said Ether was 40% finished with another three to four years left to be complete. Ahead of its expected transition to a Proof-of-Stake consensus mechanism from Proof-of-Work, a.k.a the merge, ether's (ETH-USD) tenth, but not final, shadow fork went live on Tuesday. Note that shadow forking is a way for Ether developers to prepare for the merge as data from the main network gets copied to an alternative blockchain purely for testing purposes. SA contributor Kennan Mell sheds more light on the process. Looking at intraday price action in the cryptosphere, ether (ETH-USD) is soaring 15.8% to $1.58K as of around 3:00 p.m. ET, and bitcoin (BTC-USD) is jumping 8.1% to $22.61K over the past 24 hours amid a broader risk-on d...