Accusations of lacking clarity are unacceptable in the crypto space. Ethereum too is particularly sensitive about accusations along these lines, especially in the ongoing light of a possible US Securities and Exchange Commission (SEC) crackdown. Mr. Buterin and his supporters are resisting.
Vitalik Buterin took to Twitter: “[…] it was organized without my permission or even involvement [….]” The “it” meant a recent meeting in Toronto, Canada of Ethereum players, promptly blasted by Catallaxy co-founder and Satoshi Portal CEO (Bylls) Francis Pouliot. He commented the matter as a “Secret meeting of Ethereum management committee,” in a Tweetstorm for the ages, continuing about how “blockchain governance rules were decided by the stakeholders.”
The whole Ethereum project during the latest times has come under ecosystem controll because to SEC regulators in the United States set to deffine its legal fate. A great majority of ICOs and smart contract platforms are dependent upon ERC20 tokenization.
Francis Pouliot in his Twitter
The not even three-year-old tech is many a developer’s choice, that lets for ease of integration and largely trusted. It is not clear, as of this writing, deinitely what implications are carried with an unfavorable SEC determination, but most analysts suppose it to be negative at least in the short run. Really, most ICOs openly prohibit US citizens’ participation in anticipation of odious regulations and subpoenas.
This is insane,” Mr. Pouliot affirmed. “They are establishing a plutocratic government. This has provably failed with Bitcoin (UASF/NO2X). Does anybody even care?” The evidence marshalled for the slam came from a lone news source, which described the event in worrying terms, according to Mr. Pouliot’s reading.
Vitalik Buterin in his Twitter
Vitalik Buterin was finally forced to address the question as it got traction among the other rumors and news around Ethereum. “I was not at this meeting,” Mr. Buterin tweeted in response, “it was organized without my permission or even involvement, and I honestly don’t really know much about what happened there.”
News of potential regulation and very public Twitter flames might have also cause an immediate dip of roughly a 5% price dip for ether, but it seems to have restored at time of publication.