Arthur Hayes is bullish on The Merge, believes ETHPoW will fail


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On Laura Shin’s Unchained Podcast, the journalist and BitMex founder Arthur Hayes explained why he changed his view on Ethereum and believes an ETHPoW fork will fail. Hayes explained that utility is the main difference between Ethereum and Bitcoin. “Ethereum is not money…Ethereum has use… Bitcoin has no use, it’s just money.” Hayes explained how he didn’t see the value in Ethereum during the original ICO as investors weren’t “getting anything beneficial.” He claimed the lack of scarcity or fixed supply simply didn’t compare with what Bitcoin offered. In fact, at the time, he wrote that Ethereum was “complete dog...