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Ethereum co-founder Vitalik Buterin has voiced concerns about the dangers of voting for political candidates solely based on their pro-crypto stance.

In a recent blog post, Buterin said that the game of politics is far more intricate than simply determining the winner of an election. He pointed out that even authoritarian governments like Russia have shown a willingness to embrace cryptocurrencies.

Buterins warning comes at a time when former US President Donald Trump, who has positioned himself as a pro-crypto candidate, is rallying members of his party at the Republican National Convention in Milwaukee.

Moreover, venture capitalists and crypto advocates Marc Andreessen and Ben Horowitz recently announced their plans to make significant donations to political action committees supporting Trumps campaign.

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The influence of the crypto industry in politics has been increasing, as evident through the rise of super PACs. Fairshake, a super PAC supported by leading crypto companies, has become one of the top-spending PACs in the current election cycle.

Buterin highlighted the need to be cautious of a particular style of being crypto-friendly that is common among authoritarian governments. He drew attention to Russia as an example, given his Russian background and the fact that he built Ethereum at a young age.

He expressed concerns that politicians might manipulate the pro-crypto narrative to gain support without genuinely understanding the complexities and implications of the technology.

In particular, by publicly giving the impression that you support pro-crypto candidates just because they are pro-crypto, you are helping to create an incentive gradient where politicians come to understand that all they need to get your support is to support crypto, Buterin said.

Tesla CEO Elon Musk, venture capitalist Peter Thiel, and crypto leaders such as Tyler and Cameron Winklevoss have all expressed their support for the former president.

This comes as Trumps bullish comments on crypto, his acceptance of digital currency donations, and his commitment to defend the rights of self-custody have resonated with some in the crypto community.

Charles Hoskinson, co-founder of Input Output Global and the Cardano blockchain ecosystem, has publicly disagreed with Buterins advice, advocating for a single-issue voting strategy centered around supporting pro-crypto candidates.

Hoskinson believes that making crypto a decisive voting issue will deter politicians from taking actions that could harm the industry. He noted that the Biden administration has been perceived as less favorable towards cryptocurrencies.

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Under President Biden, the SEC has intensified its regulatory actions in the crypto sector, resulting in increased penalties and legal enforcement against crypto companies.

Politics is a game of cause and effect. If politicians understand that bullying and harassing our industry translates to lost elections, then suddenly, they avoid doing that. Its not complex nor should invent massive cognitive hierarchies to excuse ones personal distaste of particular people, he said.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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Vitalik Buterin Argues Against Voting Solely Based On 'Pro-Crypto' Stance - - 99Bitcoins

Vitalik Buterin, co-founder of Ethereum, has issued a warning about the growing trend of crypto enthusiasts supporting politicians solely based on their pro-crypto stance.

In a recent blog post, Buterin urges the crypto community to look beyond superficial endorsements and critically assess candidates based on their understanding of the crypto industry.

In his July 17 article, Buterin stated, If you see a pro-crypto politician today, its worth exploring their underlying values and seeing which side they will prioritize if a conflict does arise. He emphasizes the importance of examining politicians track records on digital rights and technology issues.

Buterin advises that a candidates past statements on digital assets can provide insights into their potential future policy decisions.

He points out that many self-proclaimed pro-crypto politicians have not clearly articulated their positions on crucial matters such as communication privacy, digital identity, and information access. This lack of clarity, he suggests, could indicate a superficial understanding of cryptocurrencys underlying goals.

To illustrate his point, Buterin critiques Coinbases Stand With Crypto initiative in the United States. He argues that the criteria used by this group to assess candidates crypto-friendliness fail to consider technological freedoms beyond cryptocurrency trading.

Buterin also highlights the inconsistent approaches some governments take towards cryptocurrency. He cites Russia as an example, noting its support for crypto as a means to evade economic sanctions while opposing its use when it hinders state surveillance capabilities.

The timing of Buterins post coincides with increased political focus on cryptocurrency, particularly in the context of the upcoming 2024 U.S. elections. While not directly mentioning any candidates, Buterins message comes as some politicians, including Donald Trump, have shifted their stance on cryptocurrencies.

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Vitalik Buterin Warns Against Blindly Supporting "Pro-Crypto" Politicians - Crypto Times

The global blockchain industry is celebrating the 10-year anniversary of the Ethereum networks initial coin offering (ICO).

Ethereum started gaining traction in 2014 when co-founder Vitalik Buterin mentioned the project at a Bitcoin conference in Miami.

On July 22, Ethereum launched its ICO, selling over $18 million worth of Ether (ETH) paid for in Bitcoin (BTC).

Ethereum has come a long way since its inception. Given the networks success, some members of the Web3 community are hosting celebrations in honor of Ethereum.

Cy Li, director of EDCON and De University of Ethereum a nonprofit organization dedicated to blockchain education told Cointelegraph that Ethereums first decade will be celebrated at EDCON 2024. Li mentioned that the event will take place from July 2430 in Tokyo, Japan.

Li said Ethereum co-founders Joe Lubin and Buterin, along with the original ICO participants and Ethereum Foundation core team members, will speak during the event.

Well bridge Ethereums revolutionary past with its ambitious future, exploring key themes like interoperability, open source development, and community building, Li said.

Li added that Tokyo is an ideal place to host an Ethereum event, noting that the region has become a rising blockchain hub. This appears to be the case, especially as Japans regulatory environment for crypto continues to evolve.

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In addition to the regions crypto-friendly regulations, the University of Tokyo announced two years ago that it would offer courses in the metaverse.

By celebrating in Tokyo, were aiming to position Ethereum at the forefront of a culture that embraces both heritage and cutting-edge technology, setting the stage for the next wave of blockchain adoption, Li said.

Ken Fromm, managing drector of BuildETH, told Cointelegraph that Ethereum companies based in San Francisco will host a birthday party to honor the Ethereum ICO.

BuildETH, CookBook, Dabl Club, SKALE Network, Quantstamp, DoraHacks and others will be celebrating this milestone in San Francisco on July 22, Fromm said.

According to Fromm, San Francisco is an appropriate location to celebrate the Ethereum ICO anniversary. Its an open and social city and a favorite of tech innovators and pirates, he remarked.

Indeed, San Francisco remains one of the original crypto hotspots. Even after a number of Web3 developers left the Bay Area following the COVID-19 pandemic, the region remains home to several blockchain companies.

Noelle Becker Moreno, chief marketing officer of blockchain development firm Edge & Node, told Cointelegraph that Edge & Nodes House of Web3 in San Francisco will also be hosting a happy hour in collaboration with The Graph and Crypto Mondays.

This event aims to bring together the vibrant Web3 community for an evening of celebration and reflection on the milestones achieved since the Ethereum ICO, she said.

Becker Moreno believes its important to celebrate the Ethereum ICO anniversary since the ETH public sale marks a pivotal moment for the Web3 community:

Were excited [...] to bring San Franciscos Web3 community together to toast to Ethereums success, along with all those dedicated to the innovations that will drive us forward.

While its notable that Ethereum has matured since the projects ICO 10 years ago, industry participants hope to see continued growth.

Fromm remarked that he wants to see improved account access and control for individuals and organizations using the network.

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I love the simple aspect of signing a transaction with a private key, but this simplicity carries with it vulnerabilities such that even the most experienced people are reluctant to use the same account across different apps and protocols, Fromm said.

Fromm further commented that better trust protocols around Ethereum are still needed. By this, I mean better ways to detect who to trust or what app or protocol to trust, he said.

In addition, Buterin recently stated that he believes artificial intelligence will be able to detect bugs within Ethereum-based code, remarking that this is currently one of Ethereums biggest technical risks.

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Crypto community marks 10-year Ethereum ICO anniversary with global events - Cointelegraph

Charles Hoskinson, co-founder of Input Output Global and the Cardano blockchain ecosystem, has openly disagreed with Ethereum co-founder Vitalik Buterins recent statement advising against choosing political allegiances based solely on a candidates stance on cryptocurrency.

In a post on X, Hoskinsonarguedthat the crypto community should adopt a single-issue voting strategy focused on supporting pro-crypto candidates. He believes that politicians will think twice before targeting the crypto industry if they understand the potential electoral consequences.

Hoskinson argued that voting for current President Joe Biden would negatively impact the American crypto industry. He believes that making crypto a decisive voting issue will force politicians to moderate their stance and avoid actions that could harm the industry.

Buterin recently expressed his concerns around single-issue crypto voting, cautioning voters against backing political candidates who profess support for cryptocurrencies without supporting the technologys underlying principles and objectives.

Buterins blog post stresses that the crypto movements original values, inspired by the cypherpunk ethos, focus on promoting overall freedom and decentralization, beyond just financial freedom.

He also highlights the potential dangers of aligning with authoritarian regimes that support crypto for their own benefit while suppressing individual freedoms.

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Buterin warns that focusing narrowly on pro-crypto candidates may lead to supporting politicians whose broader values might not align with those of the crypto community. He stressed the importance of considering a politicians overall vision for technology, privacy and internationalism rather than just their stance on cryptocurrency.

The 2024 US presidential election may feel the impact of the merging cryptocurrency and political landscapes, as candidates crypto-related policies and views on blockchain innovation have become a key factor in some voters decisions.

Results from a November 2023 Harris Poll conducted for Grayscale show that almost half of American voters (47%) plan to include cryptocurrency in their investment portfolio in the future.

This years election campaign marks the first time leading presidential candidates have actively discussed its impact a notable departure from previous campaigns where it played a smaller role, such as Andrew Yangs.

Magazine: Crypto voters are already disrupting the 2024 election and its set to continue

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Charles Hoskinson rejects Vitalik Buterins view on pro-crypto voting - Cointelegraph

Last updated: July 18, 2024, 02:53 EDT | 2 min read

Ethereum co-founder Vitalik Buterin, on Wednesday, warned against voting candidates solely based on their crypto support. His comments come at a time when politicians, particularly Republicans are using crypto to influence the US elections.

Vitalik Buterin cautioned the crypto community that merely voting candidates based on their pro-crypto stance without understanding the technologys primary goals.

I argue that making decisions in this way carries a high risk of going against the values that brought you into the crypto space in the first place.

He advocates for a broader evaluation that aligns with the fundamental values of decentralization, privacy and technological freedom. He stressed on how early advocates promoted decentralization to safeguard individual freedoms beyond financial transactions.

Buterins warning comes at a time when Donald Trump, who claims himself a pro-crypto presidential nominee, recently picked pro-Bitcoin senator J.D. Vance (R-Ohio) as his choice for running mate.

Vitalik Buterin has further called crypto users to look into crypto-friendly politicians view on cryptos 5 years ago.

Similarly, look up their views on related topics, such as encrypted messaging five years ago. This can be a good guide on what kinds of changes to their views might happen five years in the future, he wrote.

Buterin has used Russias example to illustrate how crypto-friendly policies can be applied to benefit the government. He argues the community to be vigilant and avoid blindly supporting politicians who might use crypto support to further authoritarian agendas.

By publicly giving the impression that you support pro-crypto candidates just because they are pro-crypto, you are helping to create an incentive gradient where politicians come to understand that all they need to get your support is to support crypto.

The US Presidential hopeful Donald Trump has amassed several crypto industry leaders lately due to his widely-promoted crypto-friendly stance.

Trumps campaign received donations in cryptocurrencies, after he promised to defend the rights of those who choose to self-custody their coins. This means, users do not need to rely on centralized crypto wallets like Coinbase to hold their tokens. Instead, they can hold their cryptos in personal wallets.

For instance, he received $2 million worth Bitcoin from crypto billionaires Winklevoss twins, founder of Gemini exchange. Elon Musk and Venture capitalist Andreessen Horowitz (a16z) also made significant donations to political action committees supporting Donald Trumps campaign.

Ryan Selkis, the co-founder of crypto information platform Messari, has blasted Buterin for his warning post. Selkis openly called himself as a single issue voter, throwing his support for Trump, as he likes crypto. He was also present at Trumps recent Mar-a-Lago gala for NFT holders.

I respect Vitalik but he has always been among the most naive and useless political commentators in crypto, Selkis wrote on X. He said Buterin is wrong in his thoughts.

Idealism is not realism, and he pretends we arent dealing with a cultural cancer and infestation of Marxism.

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Ethereum Creator Vitalik Buterin Argues Against Supporting only Pro-Crypto Politicians - Cryptonews