The CEO of Input-Output Global (IOG) couldn’t stand it and called Bitcoin maximizers stupid. What is the reason for such a radical assessment of the BTC community by blockchain representative Cardano?
Big words in a small battle
In a tweet dated September 9, Charles Hoskinson shared the following opinion with his community:
“Bitcoin maxis are beyond stupid. I can’t even force a hard fork of Vasil, even though everyone wants it.”
The tweet was in response to a conversation that occurred between Altcoin Daily and Twitter user @btc_bryan_21. The latter issued an accusation that read:
“Hoskinson may change the 45 billion tomorrow. Ethereum ‘burned’ coins earlier this year. Who decides that?”
He pointed out the alleged similarities between Ethereum, which becomes deflationary by burning tokens, and Cardano, which has the power to increase or decrease its supply through the decision of one person. In his view, both blockchains thus show that they are highly centralized, which is very different from Bitcoin and ultimately puts them in an inferior light.
For Hoskinson, such a thesis is slanderous. He has repeatedly pointed out that he has no power to influence the supply of ADA. On the other hand, the possible burning of tokens in his network would require depleting the resources of their current holders. Such a move in his view is unacceptable.
Not the first such skirmish with Bitcoin maximalists
Hoskinson has already managed to fight a verbal battle with Bitcoin maximalists a couple of times. He is known for his comments on statements made by the likes of MicroStrategy’s Michael Saylor and BTC developer Jimmy Song. Both of the aforementioned figures have repeatedly criticized networks based on the Proof of Stake (PoS) consensus. According to Hoskinson, these individuals are “intellectually dishonest.”
According to the Cardano chief, blockchain technology has the right to evolve. There have been times when Hoskinson has pointed out Bitcoin’s shortcomings, which could hurt supporters of the largest of the cryptocurrencies. In his opinion, BTC maximalists are hypocrites. This manifests itself, for example, by planning to solve the coin’s problems, such as its lack of scalability, with a second layer. However, in his opinion, all such initiatives are highly centralized, which is completely different from the basic design.
Vasil with new date set
Meanwhile, the Cardano network is awaiting its latest update called Vasil. This hard fork, originally set for June, has been postponed a couple of times due to bugs in the network. Its final deployment date is expected to be September 22. The update is expected to introduce improvements to network capacity and smart contract functionality.
