Twitter co-founder and Block CEO Jack Dorsey is one of the warlords of the ongoing Bitcoin vs Ethereum conflict. Yesterday he tweeted harsh criticism of Ethereum, saying that the blockchain “has many single points of failure” and projects built on Ethereum are “not interesting” to him.
Dorsey is often quite aggressive on Twitter. It seems like dragging his opponents is something he likes to devote his spare time to.
Be it a rant he started himself, or somebody else’s thread on Twitter, Dorsey is always ready to strike with sharp, sometimes rude attacks.
A well known Bitcoin maximalist, Dorsey often chooses other cryptocurrencies and blockchain projects as his target. And it looks like he’s found a target lately that he really likes. And this goal is nothing but Ethereum, the second biggest crypto out there.
What did Dorsey say to encourage the Bitcoin vs Ethereum conflict?
It started with a tweet from Ethereum co-creator Vitalik Buterin.
Buterin referred to Tesla CEO Elon Musk’s recent purchase of a 9.2% stake in Twitter. Quite a few people, including Dogecoin co-creator Jackson Palmer, believe the takeover could threaten freedom of speech.
Buterin is obviously one of those people. The Ethereum co-creator wrote that he is not opposed in principle to Musk taking over Twitter. But he also mentioned he fears the move would set a dangerous precedent for less liberal individuals and organizations.
Dorsey immediately joined the conversation. His first reply was laconic, to say the least. He just wrote: ‘same’.
But in a few minutes he added another tweet, claiming he doesn’t believe any individual or institutions should own social media, or more generally media companies.
According to Dorsey, any media should stay an open and verifiable protocol.
Dorsey’s tweets usually get a lot of attention. Many people retweet and comment on them. This one was no exception. A spokesperson of Deso, the crypto-powered social network formerly known as BitClout, jumped on the thread to do some self-promotion. We all do it from time to time, aren’t we?
Deso mentioned it’s dedication to solving the issues we see today with social media and the centralization of data.
Dorsey did not pass by this comment and replied that if DeSo is an Ethereum protocol, he’s not interested. Fortunately for DeSo, it doesn’t use Ethereum.
But it is now obvious that Dorsey is not shy of direct attacks on Ethereum. In his tweet he mentioned the Ethereum blockchain “has many single points of failure”. He didn’t spread on this topic, though.
I guess we’ll have to wait to see more in some next rant which will obviously appear sooner or later. Twitter is so crowded these days, you know.
Why does Jack Dorsey dislike Ethereum so much?
Jack Dorsey is a proud Bitcoin maximalist. He often claims Bitcoin is the only real force and all other cryptocurrencies “don’t factor in at all.”
In 2021 several Twitter users were trying to get Dorsey into conversations about Ethereum. You always either ignored such attempts or stayed quite laconic.
For example, when somebody tweeted that it was only a matter of time before Dorsey’s Block would invest in Ethereum, Dorsey just briefly replied “no”. But he wasn’t shy of sharing a couple of anti-Ethereum tweets once in a while.
As it turns out all of that was hinting at a future quite aggressive attack on Ethereum.
At the time of writing, Buterin hasn’t replied to Dorsey’s remarks that could play an important role in the ongoing Bitcoin vs Ethereum role.
What is Bitcoin maximalism?
There are hundreds, if not thousands, of cryptocurrencies being used by millions of people at the very moment I am writing these lines.
Some of those cryptocurrencies are pointless and worthless, doomed to be forgotten in a few months. Some are already creating their own niche and gaining momentum.
And quite a few have grown enough to become potential rivals to Bitcoin. Like Ethereum, for example. Though you could also mention Cardano and Solana with their quite advanced blockchain technologies.
But there are people who think it is all in vain.
Bitcoin maximalists are those crypto users who believe that Bitcoin, which is still 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.
They hold the view that other cryptocurrencies are not in line with the ideals of Satoshi Nakamoto. When Satoshi announced Bitcoin back in 2009, he claimed it would bring freedom to people around the world.
Bitcoin maximalists are still very few. But they are quite vocal, well educated and possess substantial financial resources.
Bitcoin maximalists are at war with Ethereum
Jack Dorsey is a very prominent Bitcoin maximalist, who sometimes goes quite far in his fighting for the only proper crypto.
Dorsey even once said that Facebook should drop its fruitless attempts to launch its own cryptocurrency and stay focused on Bitcoin.
Now he is fighting Ethereum, the second biggest crypto in the world. That’s a kind of crusade, I would say. Given that Ethereum has already become something much bigger that just a blockchain underlying a certain token (ETH).
Ethereum has given birth to the world of smart contracts, thus becoming a foundation for decentralized finance. The Metaverse, despite being on early stages of development, also uses Ethereum blockchain widely. And of course, we have to mention NFT hype. There would be no NFTs if not for Ethereum blockchain.
Dorsey will definitely have to make himself clear on this topic. If there are serious issues with Ethereum nobody sees except him, we will all be glad to hear about them.
