Adam Back: Ethereum Resembles BitConnect and OneCoin

A pioneer of the cryptocurrency industry and Blockstream CEO Adam Back placed Ethereum in the same league as fraudulent projects OneCoin and BitConnect. The statement drew a wave of criticism in the cryptocurrency community.

Bitconnect, Charles Ponzi, ethereum, onecoin, Cardano, ripple, Bernie Madoff, stellar, Dan Larmer. All looking very similar grade to me.

— Adam Back (@adam3us) August 5, 2020

Back’s words were spoken in a conversation with journalist Laya Heilpern, who touched on the question of preferences among coins in the cryptocurrency market.

In addition to Ethereum, Back mentioned Ripple, Cardano and Stellar. The list of comparisons included Bernard Madoff, founder of the $64 billion pyramid scheme, and Charles Ponzi, whose name became proverbial, as well as Dan Larimer, the CTO of the Block.one startup.

«My respect for you has disappeared, as you are ready to judge me and others equally. I thought you were more prudent, more civilized and more educated», — Larimer wrote in reply.

Ethereum co-founder Vitalik Buterin also did not miss Back’s statement.

Reciting tired old propaganda is becoming less and less effective every day. Ethereum is rising, proof of stake and sharding are rising, and rollups are here, all through a large distributed ecosystem working in parallel. The tides of history will not be favorable to maximalism. https://t.co/PZ11XR2Pre

— vitalik.eth (@VitalikButerin) August 6, 2020

«Reciting tired old propaganda is becoming less and less effective every day. Ethereum is rising, proof-of-stake and sharding are advancing, [simple_tooltip content=’Layer-2 technology for scaling Ethereum’]Rollups[/simple_tooltip] already here, and all of this works together within a large, decentralised ecosystem. The tide of history will not be on the side of maximalism», — he wrote.

Popular cryptocurrency blogger Lark Davis asked Back whether he planned to fire Blockstream’s chief strategy officer Samson Mou, who served as an advisor to the INX ICO on the Ethereum blockchain.

Adam are you going to fire Samson for advising an Ethereum ICO? Surely since ETH is a scam that would make Samson a scammer? The hypocrisy is unreal from you lot https://t.co/7a88bGTkLw

— Lark Davis (@TheCryptoLark) August 6, 2020

«If ETH is a scam, then Samson is a scammer? Your hypocrisy is simply incredible».

Earlier it became known, that Adam Back and Litecoin creator Charlie Lee invested in the blockchain game Infinite Fleet, Samson Mou.

Earlier Back denied information that he personally met Bitcoin’s creator Satoshi Nakamoto.

Read in a special ForkLog feature about how a doctor of law organized the OneCoin pyramid and disappeared with billions of euros.

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