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- Ethereum founder, Vitalik accused through his twitter took a jibe at Justin sun’s cryptocurrency Tron calling it a ‘SCAM.’
- Vitalik’s controversial tweet caught the attention of the crypto Twitter community and got a negative response from many twitter users.
In yesterday’s tweet, vitalik who has been following Bitcoin for since 2011 and after getting inspired by cryptocurrency launched Ethereum and Bitcoin Magazine, wrote ‘Tron as scam’
Interesting. I would rate internal pressure more highly, eg. I'd claim Tron's scamminess is a huge factor limiting their ability to get top quality R&D talent.
— vitalik.eth (@VitalikButerin) February 6, 2020
As a response to tweets by @mayazi, @C1aranMurray and @Noahpinion.
This reply was given on a debate that started when Noah Smith of Bloomberg shared a blog that said that Milton Friedman was wrong to tell companies to only focus on shareholder value.
A reply to this tweet was given by Ciaran Murray, who said,
“Anything a company does with the expressed aim of promoting some other cause over shareholder value is merely a marketing campaign to increase shareholder value.”
This tweet brought Vitalik Buterin into the picture. In his response, he asked why self-interest is okay at a company level but not below it? Why can’t the agents in the company “abuse” their position for their gains?
This led to a debate between the two with Ciaran stating that self-interest is present at all the levels and Vitalik claiming that “*employees* placing value on CSR and sustainability is an important pressure here.”
He also mentioned that consumers find it challenging to push for CSR as when they spend $1 more on a more pro-social product, they lose $1. On the other hand, employees would lose less than $1. He said that in the end, a company is because of its employees.
This debate went on for a while with Ciaran saying that
“I see your point & it has merit, but the costs to individual employees can be high for such actions. It ultimately comes down to what society as whole values (workers & consumers). If social & environmental initiatives are seen as drivers of growth, they will be pursued.”
In the end, people were against Vitalik for calling Tron a scam. They bashed him for his thoughts, and as of now, the arguments are still going on.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
