An influential cryptocurrency enthusiast recently made an analogy regarding Ethereum that the creator, Vitalik Buterin, apparently wasn’t happy about. Specifically, the analogy was made that “Ethereum-ism” was like “Marxism”.
For those that are unaware, Marxism is a socioeconomic philosophy that specifically takes aim at capitalism, and categorizes capitalism as a system that might be working now, but isn’t sustainable. Eventually, the system will be overturned, and a “utopia” might be established, according to many variations of the philosophy.
The Tweets
The tweets originated from Tuur Demeester, a Bitcoin enthusiast who is associated with Adamant Capital, which describes itself as a Bitcoin Alpha fund. Demeester has a substantial following on Twitter, with over 180,000 followers, and his pinned tweet refers to Bitcoin as “digital gold”. The tweet comparing “Ethereum-ism” to Marxism gained traction with over 100 retweets and 700 likes.
Ethereum-ism sounds a bit like Marxism to me:
– What works today (PoW) is ‘just a phase’, the ideal & unproven future is to come: Proof-of-Stake.
– Utopian concept of progress: ‘social consensus’ based hard forks.
– Utopian future: perpetual income for all ‘ETHizens’.
— Tuur Demeester (@TuurDemeester) December 25, 2018
Vitalik Buterin, one of the most respected figures in the cryptocurrency space, decided to hit back at the characterization. He seemed to indicate that he was more than confident in the direction that Ethereum was headed.
– What works today (L1) is just a phase, ideal and unproven future (usable L2) is to come
– Utopian concept of progress: we’re already so confident we’re finished we ain’t needin no hard forks
– Utopian future: hyperbitcoinizationI can play this game too! 😊
— Vitalik Non-giver of Ether (@VitalikButerin) December 25, 2018
Bitcoin SV Criticism
A Twitter user then asked Buterin his opinion about Bitcoin SV. For those who are unaware, Bitcoin SV is championed by Australian entrepreneur Craig Wright, who is easily one of the most controversial figures in cryptocurrency.
Wright claims that Bitcoin SV is the “original Bitcoin”, and many have criticized him for the fact that he has claimed to be Satoshi Nakomoto, the original creator of Bitcoin. Many do not believe this, which has eroded Wright’s overall credibility. Below is a video where Wright claims that he is Satoshi (it has more dislikes than likes):
The user seemed to believe that Bitcoin SV was more scalable than Bitcoin, and thus a better project and investment. He asked Buterin for his opinion, and Buterin responded that what while he has his own disagreements with Bitcoin, he admitted “they’re trying to do something that’s genuinely cool tech.” He then referred to Bitcoin SV as a “pure dumpster fire”:
Yeah no, I have my disagreements with the bitcoin roadmap, PoW, etc but they’re trying to do something that’s genuinely cool tech. BSV is a pure dumpster fire.
— Vitalik Non-giver of Ether (@VitalikButerin) December 25, 2018
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