Twitter founder Jack Dorsey rejected ETH in his response to Vitalik Buterin, co-founder of leading altcoin Ethereum (ETH). Here are the details…
Jack Dorsey rejects the leading altcoin project
Former Twitter CEO Jack Dorsey once again emphasized that he is the maximalist of the largest cryptocurrency, Bitcoin (BTC), rejecting Ethereum told. The conversation first began with Buterin’s warning against “social media companies hostilely taken over by wealthy people/organizations”. “I don’t believe that any individual or institution should own social media or, more generally, media companies. It should be a clear and verifiable protocol. Everything is a step towards that,” he said.
Then a new blockchain project called DeSo intervened and argued that it “solved the problems we see today with social media and the centralization of data.” Dorsey finally debuted as a total Bitcoin maximalist, using the following phrases:
If you’re building on ETH, you have at least one point of failure, if not many, and therefore uninteresting to me.
History of Bitcoin maximalism
Bitcoin maximalists believe that Bitcoin, the world’s most popular cryptocurrency, is the only digital asset that will be needed in the future. Maximalists believe that all other digital currencies are inferior to Bitcoin. The maximalist ideology holds that other cryptocurrencies are incompatible with the ideals established by the pseudonymous Satoshi Nakamoto, who created Bitcoin in 2009. As
Kriptokoin.com, as we have reported, Jack Dorsey has been a BTC maximalist since 2016. While Bitcoin investors from 2014 to November 2017 stood out, Ethereum changed that, and without the threatening vision of direct competition with Bitcoin after 2017, many people like Tuur Demeester just signaled the beginning of a new era in which Bitcoin was unsustainable. Because Ethereum’s programming capabilities have created completely decentralized exchanges, which Bitcoin couldn’t. Demeester got backlash for officially declaring Bitcoin maximalism dead, but it was brought back at the Bitcoin Magazine conference this year.
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