Bill Morgan, a lawyer with a keen interest in crypto assets, expressed disagreement with a negative view on Ethereum. Morgan flatly rejects the idea that Ethereum is in poor health and has failed in various aspects.
Alfred’s critical review of Ethereum ETH
This dispute stemmed from a post by Mike Alfred on X (formerly Twitter). Alfred notes that initially Ethereum appeared to be struggling. He also claimed that it had failed to live up to its reputation as the “world computer” and “extremely sound money”. In his tweet, Alfred states that he believes ETH is sick. On the other hand, he claims that the statements about ETH as the “world computer” and “extremely robust” are in vain. He also commented that decentralized finance (DeFi) and non-fungible tokens (NFTs) have been largely abandoned within the Ethereum ecosystem.
Ethereum looks sick. The world computer and ultrasound money narratives have failed. Defi and NFTs have largely been abandoned. Vitalik and other insiders are looting the protocol and transactions are easily censored by governments. It’s a disaster. Today I am selling my ETH.
— Mike Alfred (@mikealfred) October 9, 2023
Continuing his criticism, Alfred claims that ETH co-founder Vitalik Buterin and other insiders are abusing the protocol. On the other hand, he questions the ease with which governments can censor Ethereum transactions. Alfred goes on to describe ETH as a “disaster”. He also announces his intention to sell his Ethereum assets.
Morgan’s response and historical context
Bill Morgan responded to Alfred’s criticism by referencing a post Alfred made a year ago. In his previous article, Alfred described Ethereum as an uncompetitive protocol. He criticized Cardano as a flawed project and categorized Hex and XRP as securities.
I wonder if you will be as wrong with this assessment as when you declared XRP is a security. https://t.co/75ED9uKxyK pic.twitter.com/X69QtJeB8w
— bill morgan (@Belisarius2020) October 9, 2023
In his response, Morgan points out Alfred’s current assessment of Ethereum. It raises the question of whether XRP could be as false as its statement that it is a security. He highlighted the recent US court decision in July that determined that XRP is not a security and brought relief to projects similarly categorized by the US Securities and Exchange Commission (SEC).
Community reactions and calls to buy Ethereum tokens
Alfred’s critical attitude towards Ethereum attracts attention. On the other hand, it causes a lot of disagreement within the crypto community. Some users, in a sarcastic tone, suggested that he sell his ETH tokens to them. In fact, a user known as Crypto King has an interesting offer. Accordingly, he offers to purchase all of Alfred’s ETH tokens. Accordingly, this proposal questions the size of its holdings.
The exchange of ideas and discussions regarding the health and future of Ethereum attract attention. As Kriptokoin.com, these discussions continue to fascinate the crypto community. It also highlights the diversity of perspectives in this field.
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