Jack Dorsey and Vitalik Buter in a war of words about cryptocurrencies
Jack Dorsey believes Ethereum has a “tipping point” and the blockchain platform’s father, Buterin, has criticized the Twitter founder’s ambition with Bitcoin.
Vitaliks Buterin, 26 years old, is the founder of Ethereum, one of the most popular blockchain platforms of our time. Meanwhile, 46-year-old Jack Dorsey is one of the founders of Twitter. Late last year, he stepped down as the social network’s CEO to focus fully on blockchain, investing in cryptocurrencies, and his particular interest in Bitcoin.
Over time, the two still support each other and often talk about cryptocurrency and rarely criticize each other. But last year things started to change.
Jack Dorsey (left) and Vitalik Buter. See: Reuters/The Magazine
In 2012, Buterin dated some of the founding members Bitcoin Journal. Over the years, this channel has often been used to support Bitcoin. However, in the middle of last year, he began to be cautious with this cryptocurrency.
According to Buterin, mining Bitcoin and Ethereum is becoming increasingly complex and energy-intensive, requiring more efficient machines. According to him, Ethereum has started to move forward, “leaving” Bitcoin for a new proof-of-concept mining method called “Integration” that will replace the “Proof-of-Stake” method. Work).
“If bitcoin sticks to technology as it always has, there is a huge risk of being left behind soon,” he told Cointelegraph. CNN In May 2021.
A little over a month later, Dorsey fired back, causing a rift between him and Butters. The creator of Twitter believes Bitcoin is the king of digital currency and does not accept other coins like Ethereum or Dogecoin, a symbol favored by his friend Elon Musk.
“I don’t care about all other cryptocurrencies. Bitcoin will be my focus for the rest of my life. I’ve never bought Ethereum,” Dorsey said.
On Twitter, he called the Bitcoin white paper “poetry.” When asked if cryptocurrencies will replace the dollar, rapper Cardi B replied, “Bitcoin is the only digital currency that will be accepted on the internet in the future.”
Dorsey’s response attracted a lot of attention at the time. Asked on Twitter if he “hates” Ethereum, Dorsey quickly denied: “Focusing on one thing doesn’t mean hating another. I care about bitcoin and ignore other cryptocurrencies for that reason. About its basics, security and decentralization.”
However, Dorsey has since made several public comments on Ethereum. follow up Business InsiderThis made Buterin a “warm face”.
August 2021. Dorsey Block (formerly Square) has announced the launch of a Bitcoin-focused cryptocurrency exchange called TBD. Buterin expressed his doubts about the project that the Bitcoin blockchain technology is flawed as it is the foundation of the entire defi ecosystem.
“I call for a decentralized finance (DeFi) model in Bitcoin, specifically supporting flexible smart contracts to handle irregular nodes in transactions,” Buterin said. Bloomberg. “Bitcoin hasn’t done as well as Ethereum with smart contracts like this, so Dorsey needs to build a new system. When it’s done, the system will have a very weak level of trust.”
In fact, Buterin’s Ethereum blockchain is considered an easy-to-use network for developing decentralized applications, creating new tokens, and supporting NFTs. In contrast, Bitcoin is the largest currency in the world by market cap, but its role is limited as it mainly supports sending/receiving multiple cryptocurrencies.
In October 2021, Dorsey took to Twitter to claim Ethereum was a Twitter user scam. “I wasn’t wrong,” he later said of this content.
Late last year, Ethereum developer Dorsey expressed interest in supporting various blockchain platforms, but immediately declined. “I trust you and your ability to understand the system. The bottom line is we need technology that is truly reliable and owned by many people, not one person or organization as you say,” Dorsey replied.
Recently, Dorsey continues to criticize Ethereum. The founder of Twitter, a blockchain company running on Ethereum, took the opportunity to joke on Buterin’s stage when he asked him to work with him to promote his business.
“If you build a system on Ethereum, you will have at least one bug, if not more. I don’t care,” Dorsey replied.
follow up Business InsiderDorsey’s longstanding hatred of Ethereum places him on the opposite side of Buterin. This site believes that the affair will not end and the two will see each other in the future and have more important news.
Bao Lam