It’s a well-known fact that Jack Dorsey is a proud Bitcoin maximalist. Time and again, he has criticized other cryptos and their underlying protocols.
Consider this – Back in the Bitcoin conference in Miami last year, Dorsey dismissed other cryptocurrencies, including the likes of Ethereum and Dogecoin, altogether. “All of the other coins, for me, don’t factor in at all,” he had said back then.
Now, in one of his latest comments, the ex-Twitter exec has made a contemptuous attack on Ethereum, warning it “has many single points of failure.” In fact, he also went on to call Ethereum-based projects “not interesting.”
In response to a tweet from Deso, a crypto-based social network formerly known as BitClout, Dorsey said,
“If you’re building on ETH you have at least one, if not many, single points of failure and therefore not interesting to me.”
Ethereum’s state of affairs
On its part, Ethereum’s price had made notable movements on its chart last year, but this year, so far, things have mostly been monotonous for the king-alt. Over the past 3-months, ETH has fetched its investors only 25% gains, while the returns on the monthly, weekly, and daily windows remained negative [-0.85%, -0.96%, -1.99%] at press time.
What’s more, the protocol’s much-awaited ‘merge’ has also been delayed by “a few months after” June.
Dorsey’s bitter relationship with the king-alt
Back in June last year, a self-described “developer and investor” with the pseudonym “packanimalETH” tweeted that it was “only a matter of time before” Dorsey invested in Ethereum.
To the same, Block’s CEO responded with a resounding “No.”
At the Bitcoin conference last year, Dorsey was all praise for Bitcoin. He said, “Bitcoin absolutely changes everything,” adding, “I don’t think there’s anything more important in my life to work on.”
Speaking before he quit Twitter, Dorsey said, “If I were not at Square [now Block] or Twitter, I would be working on Bitcoin.”
Well, both the LHS and the RHS of Dorsey’s equation have only had Bitcoin so far. Ethereum has never been a part of it and looks like that’s not going to change anytime soon.