Ethereum co-founder Vitalik Buterin expressed disappointment about “moral reversal” in the crypto industry, pointing to blockchain gambling.
On February 20th, Vitalik Buterin’s AMA session featured a question about his main frustrations in the crypto sector last year. In his reply, Buterin talked about some people’s criticism of Ethereum for not entirely supporting blockchain casinos.
Vitalik Buterin’s response during AMA (Source: Tako)
He said, “Perhaps the most disappointing thing for me recently was when someone said that Ethereum is bad and intolerant because we don’t respect the ‘casinos’ on the blockchain enough, and other chains are happy to accept any application, so they are better.”
Vitalik will not participate in the blockchain space if the community has such “moral reversal”
Buterin stated he would leave the blockchain space if its members chose to follow the path of “moral reversal,” which contradicts his fundamental beliefs.
Buterin expressed his disappointment about online crypto discussions, yet he thinks differently of personal encounters with crypto enthusiasts. During his face-to-face interactions with others, he noticed that the community’s core values continue to thrive.
He shared how he takes his role seriously in serving Ethereum and its community members. He does not have the option to leave the crypto space.
He directed Ethereum supporters to become active participants in creating the world they want to see.
According to his suggestion, the Ethereum Foundation might begin actively steering the ecosystem and should support specific project types that promote Ethereum’s mission.
Ethereum Foundation has modified its approach to funding
Buterin’s statements came right after the Ethereum Foundation announced changes to its funding mechanisms. Earlier on 20th January, members of the Eth community called out the Ethereum Foundation when it sold Ethereum to continue its operations.
The community members suggested that the foundation could fund itself via alternative approaches in DeFi instead of market dumping the coins.
In a response on 13th February, the Foundation addressed these criticisms by deploying 45,000 Ethereum ($120 million) into various DeFi platforms like Compound, Spark, and Aave. The ETH community appreciated this move, after which the Ethereum Foundation said that it was only the beginning, and that it is looking into staking already.
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