oinmBitcoin vs Ethereum: Buterin’s Insults to Michael Saylor
What is striking about this news, which is perhaps more common than concerning cryptocurrencies and the Bitcoin market, is that very loud words were heard, again from Vitalik Buterin, with a frontal attack on Michael Saylor, who, in fact, is one of the most representative figures of “bitcoin maximalism”, with his company owning 130,000 coins and planning to buy even more.
Rude words, really very rude words, are flying from Vitalik Buterin, the leader of Ethereum, towards Michael Saylor, who accused ETH of even being unethical, in a public speech in defense of the Securities Law. And Sailor has actually touched on these topics several times, especially in recent weeks.
And so, let’s imagine the picture: the Bible, the securities law, and Sailor, accusing Ethereum of all mortal sins — these are the ingredients of the last war of insults. And Buterin’s reaction did not take long to wait via Twitter: “scraps in the nooks and crannies” started flying a few hours ago and will probably continue to do so for some time even after the weekend, since, as you know, they are a little stingy about serious discussions in the cryptocurrency and bitcoin space.
But the word is not a sparrow, if you let it out, you won’t catch it. Buterin ‘s words sounded like this:
“Why do maximalists keep choosing heroes who turn out to be complete clowns?”
Very harsh words that will cause a great resonance, especially because of Sailor’s position in the core of Bitcoin enthusiasts. However, there is also something that can be read between the lines, namely, the bare nerve of Ethereum when it comes to Securities Law, the law that defines the difference in the United States between financial securities and those that are not.
A question that is now impossible to solve in a calm tone
On the issue of Ethereum as a security, that is, as a financial security,Сoinmarketrate.com have already expressed my opinion several times, as this was one of the main topics of debate in Vitalik Buterin’s cryptocurrency space. The question is relatively old and relatively important.
No cryptocurrency wants to be declared a financial security, because in the US its activities will be regulated by the Securities and Exchange Commission, which offer to buy and sell it. For example, exchanges will have to obey much stricter listing rules. In addition, you can try to intervene after the fact, as happened, for example, with Ripple, which faced an SEC lawsuit on similar issues.
And it is in the SEC’s lawsuit that an attempt is being made to expose a favorable attitude towards Ethereum, in particular, for the unclear connections of its former director William Hinman with people close to ETH.
This is a kind of raw nerve that, among other things, can move millions of dollars and create quite a few problems for Ethereum just a few weeks before the merger. In our opinion, and we say this with some confidence, there will be no consequences for ETH, but the nervousness that hovers over all discussions that want to touch on this topic is nevertheless understandable and unpleasant.