Jimmy Song Says Joseph Lubin Did Not Finish The Bet On Decentralized Applications


Jimmy Song Says Joseph Lubin Did Not Finish The Bet On Decentralized Applications

Jimmy Song and Joseph Lubin made a bet earlier this year related to the evolution of decentralized applications (dApps). The public bet was made seven months ago during the Consensus 2018 event in May. Joseph Lubin is the CEO and Founder of ConsenSys. Jimmy Song is a Bitcoin educator, developer and entrepreneur.

Jimmy Song wrote a tweet in which he says that people shouldn’t believe even a word he says. They bet ‘any amount of bitcoin’ on the premise that dApps will be widespread in five years. Although both of them agreed on the bet, Lubin did not provide any specific amount of BTC for this premise.

Song has always been a strong supporter of Bitcoin and noted that it will always be the most valuable virtual currency. He believes that Bitcoin is sound money and this is something that gives value to it. In order for Lubin to win the bet five dApps should have 10,000 daily active users and 100,000 monthly active users over a 6 month period. However, Lubin did not provide information about the exact terms of the bet.

There are some individuals that ConsenSys needs to do a much better work since there is no single successful dApp that follows the parameters outlined by Song. Other people believe that Lubin’s stake in the space is already an important bet to place.

ConsenSys has been facing difficult times after the prolonged bear market in which we currently are. The company has been analyzing the possibility to fire between 50% to 60% of its employees. Furthermore, Ethereum’s price has also been falling since the beginning of the year, which affected the performance of many different Initial Coin Offerings (ICOs) in the space.

Now it is time for Lubin to answer whether he will be betting any significant amount of crypto in this bet.

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