TLDR
- Vitalik Buterin, co-founder of Ethereum, warns against supporting politicians solely based on their “pro-crypto” stance.
- Buterin emphasizes the importance of broader technological freedoms and underlying values that inspired the crypto movement.
- The crypto community is advised to assess politicians’ long-term views and commitment to internationalism.
- Some industry figures, like Messari CEO Ryan Selkis, disagree with Buterin’s perspective.
- The debate occurs as some politicians, including Donald Trump, have increasingly embraced crypto.
Vitalik Buterin, the co-founder of Ethereum, has stirred up discussion in the crypto world with his recent blog post. Buterin warns against supporting politicians solely because they claim to be “pro-crypto.”
This comes at a time when cryptocurrency is becoming a more prominent topic in political discussions.
Buterin’s main point is that the crypto community should look beyond a simple “pro-crypto” stance. He suggests that voters consider a politician’s views on broader issues.
These include privacy, internationalism, and technological freedoms. Buterin argues that these values are at the core of the crypto movement.
The Ethereum co-founder points out that the original inspiration for crypto came from the cypherpunk movement. This group advocated for free and open technology to protect individual freedoms.
I respect Vitalik but he has always been among the most naive and useless political commentators in crypto. Idealism is not realism, and he pretends we aren’t dealing with a cultural cancer and infestation of Marxism.
He’s wrong.@VitalikButerin I’m always happy to chat. https://t.co/mMFKnv6uBI
— Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) July 17, 2024
Buterin believes that focusing only on cryptocurrency regulations might overlook other important issues.
Buterin also highlights the importance of internationalism in the crypto community. He shares examples from events like EthCC, where visa issues prevented some people from attending. This shows how immigration laws can affect the global crypto community.
The blog post advises looking at a politician’s long-term stance on crypto and related topics. Buterin suggests examining their views from five years ago.
He also warns about politicians who might prioritize acceleration over decentralization.
Buterin’s post has received mixed reactions from the crypto industry. Some agree with his points, while others disagree. Jake Chervinsky, chief legal officer at Variant Fund, said the post had “solid points.”
However, he worried that some might misinterpret it as an endorsement of a specific candidate.
Against choosing your political allegiances based on who is "pro-crypto"https://t.co/rEbRjZYtFB
— vitalik.eth (@VitalikButerin) July 17, 2024
Ryan Selkis, CEO of Messari, had a stronger reaction. He called Buterin “politically naive” and criticized the post. Selkis believes that supporting pro-crypto politicians is important for the industry’s future.
The debate comes as some politicians are showing more interest in crypto. Former U.S. President Donald Trump, who once called Bitcoin a “scam,” now accepts crypto donations. He is also set to speak at an upcoming Bitcoin conference.
This shift in political attitudes towards crypto is noteworthy. Republicans, in particular, seem to be embracing crypto more. Nic Carter of Castle Island Ventures pointed out that Trump has surrounded himself with “authentically pro-crypto” politicians.
The discussion also touches on the broader implications of crypto policy. Peter Van Valkenburgh from Coin Center emphasized the need to preserve privacy, speech, and the rule of law. These principles, he argues, are more important than any single politician or policy proposal.
Buterin’s post and the resulting debate highlight the complex relationship between crypto and politics. As cryptocurrencies become more mainstream, their role in political discussions is likely to grow.
This raises questions about how the crypto community should engage with the political process.
