Ethereum Founder Vitalik Buterin Reflects on Crypto-Sceptical Letter to Washington | Vitalik Buterin

Ethereum founder Vitalik Buterin appeared to reflect on, if not respond directly to, an open letter from tech professionals urging lawmakers in Washington to beware of cryptocurrencies.

The letter he was responding to, published on Wednesday, was signed by 26 computer scientists from US tech giants, including Facebook, Amazon, Apple, Netflix and Google. She asks policy makers to challenge the view that cryptocurrencies “are innovative technology that is unqualifiedly good.

Vitalik Buterin posted a long thread on Twitter — it was almost longer than the letter itself — saying it’s sad to see how the cryptocurrency community has become so much more contradictory over the past 10 or 15 years.

A big difference between the scene of the “new idealistic movement, 10-15 years ago and today’s one is that back then it was possible to be part of all nice teams at the same time“, he wrote in a tweet. “Today there are many more conflicting thoughts and conflicts. I tried to figure out… where to go from there?

Buterin recently became an unofficial moral compass of the crypto communityanalyzing industry developments in Twitter threads.

In the past, he wrote that he felt conflicted with the future of Ethereum, called algorithmic stablecoins “propaganda term“in the wake of Terra’s collapse, and said he wanted Bored Ape Yacht Club NFT holders”finance public goods“.

Buterin specifically called out the fact that tech writer Cory Doctorow signed the letter, saying it upset and confused a lot of people in the crypto community because they had viewed Doctorow as an ally. In 2018, Doctorow gave his keynote speech “Decentralize, Democratize, or Dieat DevCon, the annual Ethereum developer conference.

In one of the most damning passages of the letter, the signatories write that the crypto “will forever be unsuitable as a foundation for large-scale economic activity.

Vitalik Buterin said that in addition to the separation of crypto from big tech, or at least its skeptics, the crypto community has also faced a lot of infighting. He suggested it was a natural byproduct of many projects amassing huge followers, but it’s a phenomenon that still makes him sad.

As Cory mentioned“, he wrote, seeming to refer to Doctorow’s 2018 keynote, “crypto was initially only decentralization enthusiasts, but now there are also different types of “money people”. It’s an inevitable part of getting bigger. In non-financial movements too, various classes of normies and often soon to be scammers settle in over time.

Buterin was not the only one to react publicly to this letter.

This open letter also drew the ire of Bradley Rettler, a professor of philosophy at the University of Wyoming who is currently writing a book on bitcoin.

When writing an essay, you need to back up your assertions – the bolder the assertion, the more support is needed“, he said yesterday in his own Twitter thread. “This letter is long on bold assertions and short on support. In short, she’s outrageously bad“.

Blockchain lawyer Preston Byrne, who works for firm Anderson Kill, wrote his own counter-argument, railing against the amount of effort that had apparently gone into getting the press to write about the letter, the assertion that its signatories work in fields related to cryptocurrencies, then proceeded to mark the facts of the letter as misleading or false.

The problem with cryptocurrency regulation is not that the two sides have provided any leadership“, writes Byrne, “it’s that they haven’t done anything, that they continue to do nothing, and while they prevaricate, the world eats our lunch.

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