Home / Ethereum / 7 months after Ethereum's bet had been made, Joseph Lubin was still calm on the matter

7 months after Ethereum's bet had been made, Joseph Lubin was still calm on the matter

Jimmy Song

The bitcoin-instructor engineer Jimmy Song said that seven months after Joseph Lubin announced a public bet with him on the future of Ethereum, the CEO of ConsenSys has yet to put his money where his mouth is. It will be recalled that at the May 2018 Consensus, Lubin and Song announced a bold bet on the stage of the event for "any amount of bitcoins" on the premise that decentralized app availability with real traction from users will spread within five years.

Although the bet was advertised at the time with Lubin in support and Song on the other side, the terms and conditions of the bet were left to be smoothed out later. In a Twitter to send however, on December 22, Song argued that despite Lubin's confident words and constantly confident tone on the subject of building a new decentralized paradigm on Ethereum, he still has not put the money behind his prediction, which he claims shows that Lubin it must not be taken seriously.

Responding to a tweet published by Lubin, Song wrote:

Bet of Lubin etereum

The much-debated bet has been a matter of contention for months, with both parties having never reached a concrete agreement regarding the exact terms.

In an appearance on the Unchained podcast in June, Song argued that bitcoin would always be the primary and precious cryptocurrency because it is "sound money". According to him, Lubin would win the bet if five dApp had 10,000 active users every day and 100,000 monthly active users over a period of 6 months. Lubin on the other hand, was constantly not binding on the exact terms that he would be willing to agree.

The reaction to Song's Twitter post was very varied, with some arguing that the large investment of Lubin in the Ethereum dApp space through ConsenSys represents a "skin in the game" sufficient to make an insignificant and insignificant bet. . Others pointed out that after several months of operations, ConsenSys still has to produce a single successful dApp based on the parameters set by Song. Others have argued that even if the Ethereum dApps took off as Lubin hopes, this would not say much about Ethereum because the dApp technology is still based on Bitcoin.

Song's accusations come at a difficult time for ConsenSys, which has been hit hard by depressed cryptic market conditions. On Sunday, CCN reported that Lubin responded to the news of the recent ConsenSys redundancies with the denial that the recent reorganization is significant of any long-term recession of the fate of Ethereum.

Shutterstock foreground image. Photo by Jimmy Song from LinkedIn.

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