More

    Blockstream Brags About Doubling in Size on Twitter as ConsenSys Lays Off 13% of Its Staff

    Outspoken Blockstream CSO Samson Mow took to Twitter today to troll Ethereum production studio ConsenSys. Earlier today, ConsenSys announced that it was laying off 13% of its staff, and Mow did not waste the opportunity to fire shots at ConsenSys.

    Mow quote-tweeted a tweet from CoinDesk describing how ConsenSys was laying off 13% of its staff as part of a “wider strategic shift.” In response, Mow wrote that, “Blockstream almost doubled in size this year” and is “still growing”.

    The community was quick to jump on Samson Mow’s assertion:

    “Going from 40 to 80 employees is a little different than having more than 1,000. Weird flex,” writes Larry Cermak (@Lawmaster), Head Analyst at The Block, in response to Mow.

    Those numbers, by the way, are pretty much spot on.

    Blockstream was founded in 2014 and is headquartered in San Francisco, California. As Cermak claimed on Twitter, the company appears to have around 80 to 100 employees, up from approximately 40 employees one year ago.

    ConsenSys, meanwhile is a New York City headquartered company founded by Joseph Lubin in October 2014 to develop on the Ethereum blockchain. It was revealed that the company had 900 employees in July 2018. This past week, ConsenSys confirmed that it was laying off about 13% of its staff – or around 115 employees – as part of a restructuring.

    Ultimately, Samson Mow comes off looking a little petty here. If Blockstream and ConsenSys were the same size competing for the same goals, then it might be more accurate to compare the two. However, Blockstream is approximately 10% the size of ConsenSys, and the two are working on different projects.

    Of course, Blockstream supporters have responded on Twitter with statements like this: “1000 employees producing less value than 40-80 is a weird flex too.”

    Blockstream supporters on Twitter are also pointing out that the ETH price in BTC lower today than it was in March 2016 before The DAO was launched – which is surprising and looks very bad for Ethereum.

    Of course, the counter-argument is that Blockstream had little to do with the rise of bitcoin, and that bitcoin was already a full-blown phenomenon before Blockstream started contributing. ConsenSys, meanwhile, has played a crucial role in the rise of Ethereum.

    These are turbulent times within the crypto community. Some companies will survive and others will fail. It remains to be seen whether Blockstream or ConsenSys (or neither) will be around ten years from now. In the meantime, we’ll watch these two duke it out on Twitter.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Andrew Tuts
    Andrew is a Canadian cryptocurrency analyst who has spent the last seven years writing about digital marketing, science, and technology for hundreds of online publications. Andrew breaks down the latest news from across the crypto and blockchain space in a way anyone – even his parents – can understand.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,345FansLike
    2,772FollowersFollow
    4,133FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Microsoft Files Patent To Mine Cryptocurrencies With Verified Body Activity Data

    Giant software manufacturer, Microsoft is seeking to capitalize on the new crypto hype. The firm is seeking to introduce its own cryptocurrency that will...

    Coinbase Commerce Crosses $200,000,000 In Crypto Payments Since Launch

    Covid-19 hasn't kept consumers from using bitcoin (BTC) as a means of payments for goods and services according to a merchant transaction report from...

    Singapore Exempts Binance, Coinbase, Gemini, and Ripple From its Current PSA Crypto Act

    Singapore is counted among one of the crypto hubs of the world as it offers ease of business for these crypto service providers when...

    The World Has Gone Full Crypto in 2020; Volatility is Up, Stocks Are trading like A Sh*tcoins

    The global markets are on a rollercoaster for the past few weeks, one day they are recording historical one-day gains the next they are...

    South Korea May Get A New Crypto Custodian After Largest Bank Files Trademark App

    KB Kookmin Bank, the largest bank in South Korea, is preparing to launch its cryptocurrency custody service as soon as possible. As per the local...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.