Crypto CasinosAll ICOICO statsRatingReviewsBlogNewsDEFI Wallets Mining Exchanges Chart Events

Roubini Calls Buterin A “Dictator” Of Ethereum - Ethereum News. Tuesday, October 9th

09 october 2018, 18:21 by Jesús S. Affigne

Roubini calls Buterin a “dictator” of Ethereum

And Vitalik rejects his comments

American economist Nouriel Roubini has charged against cryptocurrencies and their decentralization, labeling it as a “myth”. According to a tweet by the man who predicted the collapse of the market in 2008 three years before it happened, the supposedly boasted decentralization of the crypto sector is not true, and the current situation of mining and exchanges can easily be compared to North Korea, in that they are very centralized.

He also said that even developers involved in the blockchain sector are too centralized, especially the co-creator of Ethereum Vitalik Buterin, who was referred to as a “dictator for life”.

Vitalik’s response

The news reached Buterin, who then proceeded to quote Roubini’s tweet and responded that it wasn’t fair to characterize him as such. “If you look more deeply at the actual processes of ethereum governance you'll find that while a technical elite does exist (as in all cryptocurrencies), my own involvement is much less pivotal than it seems from the outside,” he said, adding that as an example, it was not his idea the reduction of the reward for every mined block, from 3 ETH to 2 ETH, having no involvement at all in its implementation.

However, he acknowledged that there is a certain degree of centralization in developers, exchanges and miners, and they are working around these issues to diminish them, such as multiple client implementations, the development of decentralized exchanges, and many protocol features that will come with the migration of the current consensus algorithm to Proof of Stake (PoS).

The last days have been quite tough for the most recognizable face of the Ethereum project. From his alleged support for altcoins by pumping them with the Ether he holds in his wallet since the pre-mining, to his misinterpreted detachment from the foundation, and now being called dictator of the project, surely these days have been something.

However, he remained calm during his comeback, and even expressed his willingness to talk about this anytime. “Would be happy to chat more in any case,” he said.

Follow TokenTops on Twitter to stay notified about new articles, cryptocurrency news, ICO announcements and price predictions and analysis.

Legal Disclaimer: Please remember that trading, buying or any other type of investing in cryptocurrencies should be consider risky and may lead to the loss of all of the invested money. For further information visit Terms and Conditions section on TokenTops. We do not encourage our readers to any kind of financial decisions. Neither nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from We believe that everyone should make their own and in depth research on the particular topic in various sources before making any financial decision and this person should be the only one responsible for the outcome. Our writers do their best to remain unbiased and don't actively support any project. The research is done with various sources, the predictions are based on own believes, analytical skills, experts and community discussions and is intended to convey general information only.

You may also like


Write comment 0 comments

You need to login to create comments.

Get the week’s best ICO right in your inbox