Crypto And Blockchain Head Jimmy Song: EOS Is A Scam, Bashes ‘Bcash’ And Ethers ETH In Interview
The cryptocurrency industry is probably most familiar with Jimmy song as a Bitcoin developer and educator, but there are still ways that he can influence the industry. He recently sat down with Crypto Insider to talk about his views on blockchain technologies and about several crypto projects.
In Song’s opinion, blockchain technology has seen rapid growth since it’s inception, though he believes that software development for these cases can be seen positively. However, the fact that he can support certain projects with the same ferocity as he attacks them shows the influence he could have in the industry.
The conversation started with his praise over a Bitcoin project that would implement a side chain on the ledger. He said,
“My opinion is that it’s a good first step towards side chains … Eventually, I imagine this will become sort of like a second layer network that’s more commercial and I think that’s a good thing. You know I like competition, I like innovation, I like when new things are tried out, so it’s something that I’ve been thinking about for a while. It’s called liquid for a reason, and it provides liquidity to everybody, and it should sort of even out the prices between all of these and any participant in this network that doesn’t have the same price as everybody else is actually more reflective of the fiat money in that country than anything else. So, I think it will be a good thing. I look forward to watching more.”
Later, Song was asked if there’s any words of wisdom that he could offer for consumers in the blockchain development industry. The host, Vlad Costea, also wondered if and how Bitcoin would have greater appeal over working on other blockchains, like EOS. However, Song had quite a bit more negative to say than positive. He said,
“Well, I think EOS is a scam, and I don’t think you should work on it … Working for something EOS… I don’t think it’s a real idea because it will die in a horrible dumpster fire in the next five years. Doing something for an ICO, that’s not going to last. You’re not going to have anything good on your record by joining a lot of this stuff.”
As for Bitcash, Song has a similar stance.
“BCH has no reason to exist, I wrote an article called “Bitcoin Cash is fiat money,” please go read that if you want to see my arguments about why I think Bitcoin Cash is worthless or it doesn’t really have any value to anybody.”
Still, Song hadn’t had enough. Next on the chopping block was Ethereum, though they didn’t receive as harsh of a criticism. He said,
“Ethereum, I think it’s a platform for these scams, and that’s more or less their killer feature. I don’t think it’s technologically very interesting, most of the features that they have done are done in a very amateurish way. Like adding Turing completeness … that’s not used by anybody; it’s stupid.”
Song doesn’t have much faith in renowned advocate Roger Ver either, saying that he becomes manipulative when pulled into a debate. If Ver doesn’t have a leg to stand on with the subject at hand, his arguments become more immature, attacking the person that he’s arguing against instead. Song added,
“He’s a politician; he doesn’t really care about helping the world or even engaging at the level of ideas. It is all about power for him, and that was really disappointing. He has done some really good things for Bitcoin, and I applaud him for that, and I said that at the very beginning of my speech, but seeing him like this is so blatant, so obvious, and so sad. It was very disappointing, let’s just put it this way.”
The subject of Roger Ver allowed Song to discuss how he takes on these ideas instead, saying that his alternative approach is simply due to the fact that he cares. He said,
“I care about the ideas. I care about like how the incentive is structured, and I care about the actual technology. He has no interest in any of that; instead he wants to talk about what books he hasn’t read, or others have read. It is the stupidest form of debate ever.”