Former hedge fund manager Raoul Pal said that Ethereum could finish the year above $10,000. He also thinks that there is a “decent chance” of “flippening” – referring to Ethereum becoming the largest crypto by market cap, removing Bitcoin from first place. Moreover, he thinks that Ethereum’s competitors will do even better. Raul Pal is a former Goldman Sachs executive and a former co-manager or GLG, a London-based global macro hedge fund. He has since retired from his position and started Real…
On September 1st, Ethereum CEO Vitalik Buterin tweeted that he hopes Dogecoin moves to a PoS. His Tweet was in response to a question earlier asked by another big player in the financial world. Vitalik said that days after his selection into the Dogecoin Foundation board.
Vitalik on Dogecoin and PoS
To boost his social score, Vitalik Buterin told his Twitter friends to ask any questions. Unsurprisingly, the most popular questions were about cryptocurrencies.
One of the most exciting questions asked yesterday came from Zhu Su, the CEO of 3 arrows capital. Zhu Su wanted to know about Vitalik’s recent interest in Dogecoin. He wanted to understand if Dogecoin and Ethereum would associate at some point. Lastly, he asked about Vitalik’s interest in Dogecoin.
In response, Buterin mentioned that he hopes Dogecoin stops using Proof of work and moves to PoS. He suggested that he’d like Dogecoin to use Ethereum’s code when making their PoS. Buterin noted that Dogecoin should continue its $5 billion annual POW issuance. His response reads in part;
“I also hope they don’t cancel the 5b/year annual PoW issuance, instead they put it in some kind of DAO that funds global public goods. Would fit well with Dogecoin’s non-greedy wholesome ethos.”
Vitalik is New Dogecoin Foundation Member
On August 18th, Vitalik and Elon Musk’s advisor (Jared Birchall) joined the Dogecoin foundation. This board is a remake of a committee that appeared in 2014 to support the Dogecoin ecosystem. Jared Birchall will be present in Dogecoin as a representative of Elon musk.
Buterin has much interest and confidence in Dogecoin. Musk’s influence and Vitalik crypto expertise could help in growing the Dogecoin ecosystem. This renewed foundation will be meeting monthly to discuss the future of Dogecoin.
The Price Actions
Once Vitalik talked about his hope of Dogecoin switching to POS, the prices began to increase. It’s currently trading at $0.31, an 8% increase from yesterday. The trading volumes associated with Dogecoin increased by over $64% in the past 24 hours. Vitalik’s presence in Doge will drive the coin to provide better services. Other experts already hope that Doge could reach $1.