PlanB Criticizes Ethereum as a Centralized Pre-Mined Coin

PlanB, a well-known Bitcoin analyst famous for the Stock-to-Flow (S2F) model, recently criticized Ethereum as ETH’s price and dominance have dropped significantly since the beginning of the year. His criticism raises doubts about Ethereum, the second-largest cryptocurrency by market cap, focusing on its core mechanisms, particularly its use of Proof of Stake (PoS) instead of Proof of Work (PoW). Why Does PlanB Call Ethereum “Centralized” and “Pre-Mined”? PlanB referenced an old post by Vitalik Buterin from 2022, in which Buterin criticized the Stock-to-Flow model for creating a “false sense of certainty” regarding Bitcoin’s price. PlanB seized this opportunity to mock Ethereum, noting that the ETH/BTC trading pair had reached a nine-year low source: https://beincrypto.com/planb-criticizes-ethereum/