A group of hardcore bitcoin maximalists have heroically overcome their hatred for Ethereum after receiving ERC20 shares in crypto exchange INX worth hundreds of thousands of dollars. The staunch BTC loyalists, led by Blockstream CTO Samson Mow, have agreed to support a project built on Ethereum, despite all the mean things they’ve said about it. The news has provoked intense debate within the crypto space, however, with some cynics arguing that the maximalists are only in it for the money.
Mow Money, Mo’ Problems
As CTO of Bitcoin development company Blockstream, Samson Mow’s primary duty is to keep block sizes small to peddle his firm’s scaling solutions to the problem it engineered. High fees don’t generally concern bitcoin maximalists such as Mow, who have no interest in using BTC for its intended purpose, instead preferring to lock it away in a vault and never look at it again. It’s a policy that, for all its flaws, has helped to make Mow and his cronies extremely wealthy, and Blockstream an extremely influential Bitcoin company.
The significant success of Mow’s primary business, however, has caused a paradox: to launch one of his secondary ventures, a crypto exchange in which he has invested $100K, it will be necessary to utilize a network with low fees. Bitcoin is out of the question for the aforementioned reasons, while Ethereum should also be a non-starter due to a number of immutable statements Mow has made about the rival network, calling it “the most impractical thing in existence,” a “science fair project” and “centralized AF.” The Blockstream bigshot also wrote “I wish ill on Ethereum” which “has no future.”
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