• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Brian Armstrong Praises Ethereum Hard Fork; Receives Criticism

Gautham by Gautham
5 years ago
in
Reading Time: 3min read
DAO
Advertisement

A recent tweet by Brian Armstrong, the co-founder and CEO of Coinbase on the upcoming Etheruem hard fork hasn’t been received well by the cryptocurrency community.

brian armstrong_twitter

Brian Armstrong, on his twitter channel, wrote — “If Ethereum pulls off this hard fork, very positive signal for them as a team. Shows they can listen to community, execute in time of crisis,” referring to the recent decision by the Ethereum Foundation to execute a hard fork to retrieve $60 million worth of DAOs that were siphoned off by an unknown developer. Armstrong was able to manage that by taking advantage of a critical flaw in the Ethereum/DAO network. But for many, his tweet has made him sound uninformed and clueless about what is happening with Ethereum.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Community members have taken to Reddit to criticize his Twitter statement. It is not just Brian Armstrong who is at the receiving end of the community’s ire, even Ethereum network is facing heat for its decision to hard fork the network as many Ethereum users are not convinced by the actions of the network and they fear that such an action may lead to Ethereum abandoning its principles and eventually fall out of favor in the cryptocurrency community.

Creating a hard fork on the Ethereum protocol will mean that the developers of Ethereum network will be forcibly taking decisions on behalf of the community, without them having a say in it. It is understandable that some people in the community may end up losing their money if the network doesn’t retrieve it, but many of those people had initially invested in DAO because they believed in the integrity of Ethereum protocol.  Many believe that the hard fork on Ethereum will lead the protocol one step closer to centralization.

Screen Shot 2016-07-19 at 4.50.18 PM

Also, Brian Armstrong’s comment seems to completely disagree with the opinions voiced by Fred Ehrsam, the other co-founder of Coinbase and Charlie Lee, the creator of Litecoin, who all believe that it is better to learn from the mistakes than trying to fix it by force to end up breaking the whole system instead.

Screen Shot 2016-07-19 at 4.49.42 PM

Few Ethereum mining pools have also conducted surveys to gauge the opinion of miners, to find out that there are many who are against the upcoming hard fork. In addition, a hard fork at the moment can kill Ethereum as businesses wouldn’t want to automate their operations using smart contracts that can stop working overnight if the developers decide to create a hard fork out of the blue.

Ethereum is in a catch-22 situation at the moment as the Ethereum Foundation and developers find themselves vulnerable to legal action if someone decides to file a lawsuit against them, claiming compensation. We don’t have to wait for long to know the outcome of the DAO debacle.

Ref: Reddit | Twitter | QZ |Image: NewsBTC
Tags: Bitcoin NewsblockchainBlockchain Technologybrian armstrongDAOEtheruemhard forktwitter
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Gautham

Gautham

Related Posts

Xminer

Is There a More Simple Way to Cloud Mine Cryptocurrencies Than Xminer Mining?

38 mins ago
Ethereum

Ethereum Gains Bearish Momentum, Why ETH Could Test $1,280

13 hours ago
Bitcoin

Why Bitcoin Price Could Extend Its Decline To $41K, 100 SMA Holds The Key

14 hours ago
takaxa

Taraxa’s Steven Pu on the Elephant-in-the-Room Problem With Informal Transactions, and How He Drives the dApps Adoption With Slack-Inspired Go-to-Market

1 day ago
bitcoin bid side macro

Bid Side In Bitcoin Disappears Amidst Jittering “Macro Environment”

2 days ago
bitcoin dollar

Dollar, Divergences, & More: Here’s Why Bitcoin Could Soon Bounce

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

What Will Happen to Oil Production and Distribution in 2021, and How Can You Make a Profit on It

February 28, 2021

Bitcoin Gaming Platform FreeBitco.in Acquires 3.75 Billion FUN Tokens

February 26, 2021

60-Minute IFO, 187 Times Over-Raised, 40 Times the Price, 98 Million US Dollar Marketcap: Berry Data Has Become a Bright Star on BSC

February 26, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.