{"id":565,"date":"2021-12-24T09:03:30","date_gmt":"2021-12-24T09:03:30","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=565"},"modified":"2021-12-24T09:03:31","modified_gmt":"2021-12-24T09:03:31","slug":"reformed-maxi-erik-vorhees-joins-the-burning-debate-spurred-by-jack-dorseys-web3-rant","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=565","title":{"rendered":"Reformed maxi Erik Vorhees joins the burning debate spurred by Jack Dorsey\u2019s Web3 rant"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>Jack Dorsey\u2019s recent comments surrounding the concept of Web 3 stirred up a fiery discussion among the crypto community on Twitter\u2013bringing out all shades of tribalism, maximalism, and cypherpunk righteousness.<\/p>\n<p>ShapeShift CEO Erik Vorhees joined the ongoing debate, arguing that Proof of Stake (PoS) has some advantages over the Proof of Work (PoW) consensus mechanism, but the former CEO of Twitter didn\u2019t seem to appreciate his comments.<\/p>\n<h2>\u201cBitcoin or bust\u201d<\/h2>\n<p>Let\u2019s rewind to Dorsey\u2019s comment that brought up all the drama currently going on Twitter.<\/p>\n<p lang=\"en\" dir=\"ltr\">You don\u2019t own \u201cweb3.\u201d<\/p>\n<p>The VCs and their LPs do. It will never escape their incentives. It\u2019s ultimately a centralized entity with a different label.<\/p>\n<p>Know what you\u2019re getting into\u2026<\/p>\n<p>\u2014 jack\u26a1\ufe0f (@jack) December 21, 2021<\/p>\n<p>\u201cYou don\u2019t own \u201cweb3.\u201d The VCs and their LPs do. It will never escape their incentives. It\u2019s ultimately a centralized entity with a different label. Know what you\u2019re getting into\u2026\u201d\u2013wrote the staunch Bitcoin maximalist, expressing his opinion on the next iteration of the internet.<\/p>\n<p>He couldn\u2019t have been more clear about what he thinks of the next, decentralized version of the Web, referred to as Web3, which he believes would be owned by rich VCs instead of \u201cthe people.\u201d<\/p>\n<p>Dorsey, who in the meantime posted that he was blocked on Twitter by renowned venture capitalist Marc Andreessen, replied to an allegation that his Web3 commentary generates from a \u201cBitcoin or bust\u201d attitude and dislike for Ethereum.<\/p>\n<p lang=\"en\" dir=\"ltr\">I\u2019m not anti ETH. I\u2019m anti-centralized, VC-owned, single point of failure, and corporate controlled lies. If your goal is anti establishment, I promise you it isn\u2019t ethereum. Don\u2019t believe or trust me! Just look at the fundamentals.<\/p>\n<p>\u2014 jack\u26a1\ufe0f (@jack) December 23, 2021<\/p>\n<p>\u201cI\u2019m not anti ETH. I\u2019m anti-centralized, VC-owned, single point of failure, and corporate controlled lies. If your goal is anti establishment, I promise you it isn\u2019t ethereum. Don\u2019t believe or trust me! Just look at the fundamentals,\u201d replied Dorsey, and a myriad of responses followed.<\/p>\n<h2>\u201cA reasonable position to take\u201d<\/h2>\n<p>ShapeShift CEO Erik Vorhees, was amongst many who commented Dorsey\u2019s tweets, arguing that \u201ca reasonable position to take is that Ethereum is less decentralized on X metric, less predictable, and more risky than Bitcoin.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">A reasonable position to take is that Ethereum is less decentralized on X metric, less predictable, and more risky than Bitcoin.<\/p>\n<p>An unreasonable position to take is what @jack is expressing. https:\/\/t.co\/790glrPWb2<\/p>\n<p>\u2014 Erik Voorhees (@ErikVoorhees) December 23, 2021<\/p>\n<p>The reformed Bitcoin maximalist called out Dorsey for expressing his \u201cunreasonable position\u201d and noted lower energy usage as a pro PoS argument\u2013a fact of possibly great importance in the context of potential regulatory blocks.<\/p>\n<p>\u201cIt doesn\u2019t mean PoS is superior. It does mean PoS has a different adversarial attack surface, and this alone advances decentralization and anti-fragility of crypto as a whole,\u201d he followed up.<\/p>\n<p lang=\"en\" dir=\"ltr\">This point deserves more air time.<\/p>\n<p>It doesn&#8217;t mean PoS is superior. It does mean PoS has a different adversarial attack surface, and this alone advances decentralization and anti-fragility of crypto as a whole. https:\/\/t.co\/kMrGhrjOoE<\/p>\n<p>\u2014 Erik Voorhees (@ErikVoorhees) December 23, 2021<\/p>\n<p>\u201cA cypherpunk that maintained fidelity to principle would understand this immediately. A cypherpunk that fell victim to tribalism and group-think might reject it,\u201d added Vorhees, but his \u201cneither system is perfect\u201d diplomacy didn\u2019t sit well with Dorsey, who promptly unfollowed him on Twitter.<\/p>\n<p lang=\"en\" dir=\"ltr\">\ud83d\udc40 @jack (CEO of @Blocks) is no longer following @ErikVoorhees<\/p>\n<p>\u2014 Big Tech Alert (@BigTechAlert) December 23, 2021<\/p>\n<p><h2>CryptoSlate Newsletter<\/h2>\n<\/p>\n<p>Featuring a summary of the most important daily stories in the world of crypto, DeFi, NFTs and more.<\/p>\n<h2>Get an edge on the cryptoasset market<\/h2>\n<p>Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/reformed-maxi-erik-vorhees-joins-the-burning-debate-spurred-by-jack-dorseys-web3-rant\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jack Dorsey\u2019s recent comments surrounding the concept of Web 3 stirred up a fiery discussion among the crypto community on Twitter\u2013bringing out all shades of tribalism, maximalism, and cypherpunk righteousness. ShapeShift CEO Erik Vorhees joined the ongoing debate, arguing that Proof of Stake (PoS) has some advantages over the Proof of Work (PoW) consensus mechanism, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=565"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/565\/revisions"}],"predecessor-version":[{"id":567,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/565\/revisions\/567"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/566"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}