Nicholas Weaver’s “Blockchains and Cryptocurrencies: Burn it With Fire” Talk Receives Community Backlash
Nicholas Weaver, a nocoiner and self-proclaimed ‘MR. Know It All’ has been on a Bitcoin & Blockchain bashing spree. Recently Berkeley International Computer Science Institute streamed his views on the cryptocurrencies titled “Blockchains and Cryptocurrencies: Burn it With Fire.”
As the title might suggest Mr. Weaver seems ignorant of the highest order, and his out-right hate for the technology which is being pegged as a tool for next industrial revolution by many economists and industrialist, might give you an insight into his thinking disorders.
As a nocoiner myself, I do agree that there is room for progress and the blockchain community is putting in the effort to better the technology every day.
Coming back to Mr.Nicholas Weaver, the non-coiner discovered his hate for the cryptocurrencies quite early in his life. According to the data available, the first evidence of Mr. Weaver ranting about the Bitcoin dates back to early 2013. In his early Bitcoin bashing, Mr.Weaver while explaining the Blockchain to a group of post-graduates was quoted,
“Bitcoin is a shared delusion of value”
Weaver’s HATE & HATE For Cryptocurrencies Are Backed By Dellusionalism
Weaver’s hate for Bitcoin and the technology underneath blockchain is not based on any hard-facts but his “Beliefs”. In one of his ‘famous talks’, Mr.Weaver claims that blockchain technology cannot solve any real-world problems of inflation or centralization. He says,
“For all of those who say ‘blockchain will solve X,’ the only thing it solves is you now know the person knows nothing about X.”
MR. Weaver stands out among the nocoiners since most of the nocoiners are either critical about cryptocurrencies and believe it needs a lot of improvement before it can be widely accepted.
However, Mr. Weaver thinks the best way to move forward is by totally getting rid of the cryptocurrencies. He believes that Blockchain believers are dreamers while he is absolutely right whether he knows how blockchain technology works or not.
Are Any of the Weaver’s Concern Genuine?
Well, the question of Weaver’s concern being genuine arises when its a ‘concern’. The problem is Mr. nocoiner is a proud ignorant and whatever concerns are related to the cryptospehere are already being talked out and worked upon by various crusaders of the industry.
The blockchain community is aware of the various concerns like centralization of power in the decision making. The continuous security breaches on centralized exchanges. And even the growing population of tokens in the market. There is a continuous effort being made to eradicate one issue ar a time.
Look back at the cryptocurrency ecosystem years ago, and look how much progress and transition we have gone through. There are complete blockchain ecosystems like Ethereum which is not just concerned about the token prices.
We have moved from token to smart contracts and now moving towards decentralized applications. The Lightning network is already helping Bitcoin to resolve its scalability issue.
Talking about Blockchain, the technology which was not even talked about a decade ago, is now being implemented in Agricultural sector, Healthcare sector, entertainment industry and many more to help them eradicate problems faced by the traditional centralized industries for decades.
I hope Mr. Weaver finds someone educated enough to tell him that internet fame is good, but being ignorant is not. If he decides to sit down, understand and educate himself a little bit, people might actually start taking his concerns seriously.
But, if he decides to blabber around without any facts backing it, his fame will end its meet sooner then many cryptocurrencies which promised big but faded into oblivion in no time.