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Vitalik Buterin, the co-founder of Ethereum, issued a warning on Wednesday against choosing a candidate purely based on whether they claim to be pro-crypto. In a blog post, Buterin said its more important to scrutinize a candidates broader policies to ensure they support cryptocurrencys underlying goals, including internationalism and protection for private communications.

If a politician is pro-crypto, the key question to ask is:Are they in it for the right reasons?, wrote Buterin.Do they have a vision of how technology and politics and the economy should go in the 21st century that aligns with yours?

Though Buterin does not mention any politicians or crypto investors by name, his comments come just one day after Marc Andreessen and Ben Horowitz threw their support behind former President Donald Trump in the 2024 Presidential election. The founders of Andreessen Horowitz noted on their podcast yesterday that Trumps crypto regulation plan is a flat-out blanket endorsement of the entire space. The influential venture capitalists join the ranks of other notable Silicon Valley players, including Elon Musk, who endorsed Trump in the last week.

Further, Ethereums co-founder made the case that signaling you broadly support any pro-crypto candidates could incentivize politicians to promote the cause in bad faith. Buterin notes that authoritarian leaders, particularly in Russia, have claimed to support crypto in an effort to consolidate power.

It doesnt matter if they also support banning encrypted messaging, if they are a power-seeking narcissist, or if they push for bills that make it even harder for your Chinese or Indian friend to attend the next crypto conference all that politicians have to do is make sure its easy for you to trade coins, said Buterin.

The co-founder of Ethereum suggested to look into a crypto-friendly politicians views on crypto five years ago. He says this can serve as a guide for whether the politician may reverse their position five years in the future.

Notably, former President Trump starkly opposed decentralized tokens five years ago. In a tweet from July 2019, Trump said hes not a fan of Bitcoin and other Cryptocurrencies, which are not money. In a follow-up tweet, he said we have only one real currency in the USA, referring to the United States dollar.

But in May, Trump completed a total flip-flop on his stance regarding cryptocurrencies, becoming the first major presidential candidate to accept bitcoin donations. The Wall Street Journal reports that Trumps crypto fundraising efforts have collected $3 million worth of donations in the second quarter.

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Ethereum co-founder's warning against 'pro-crypto' candidates: 'Are they in it for the right reasons?' - TechCrunch

Charles Hoskinson, co-founder of Input Output Global and the Cardano blockchain, disagrees with Vitalik Buterins statement that voters should be against choosing a candidate based on whos pro-crypto.

In a post on X, Hoskinson argues against what the Ethereum co-founder wrote, stating that a vote for current US President Joe Biden would be the death of the American crypto industry, and that the crypto community should vote for pro-crypto candidates.

In his opinion, candidates will stop bullying and harassing the crypto industry when they realise it only leads to lost votes. Politics is a game of cause and effect, he wrote.

Earlier this week, Buterin expressed concern about voters backing candidates who support cryptocurrencies without fully understanding their objectives.

In a post titled Against choosing your political allegiances based on who is pro-crypto, Buterin urged people to look at a politicians views on crypto from five years ago as this could be a good indication of where their views might be in the future.

If you see a politician being crypto-friendly, one thing you can do is look up their views on crypto itself five years ago, he wrote. Similarly, look up their views on related topics such as encrypted messaging five years ago.

Referencing the Stand With Crypto political initiative, which launched in May, Buterin states that the key bills listed, which the group uses, made no attemptto judge politicians on freedoms related to cryptography and technology that go beyond cryptocurrency.

If a politician is in favour of your freedom to trade coins, but they have said nothing about the topics above, then the underlying thought process that causes them to support the freedom to trade coins is very different from mine (and possibly yours), Buterin argued.

This in turn implies a high risk that they will likely have different conclusions from you on issues that you will care about in the future.

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Charles Hoskinson Disagrees with Vitalik Buterin on Pro-Crypto Stance - CoinJournal

Vitalik Buterin, Ethereums (ETH) co-founder, has cautioned against basing political allegiances solely on a candidates stance on cryptocurrency.

In a recent blog post, Buterin expressed concern over the growing trend in the crypto community to support politicians primarily based on their crypto-friendly policies. He wrote:

I argue that making decisions [on who to vote based on the candidates position towards crypto] carries a high risk of going against the values that brought you into the crypto space in the first place.

Vitalik Buterin noted that recent legislative efforts, such as the Financial Innovation and Technology for the 21st Century Act (FIT21) in the United States and the Markets in Crypto-Assets regulation (MiCA) in the European Union, have spurred increased political engagement within the crypto sphere. However, he argues that this approach may contradict the fundamental values of the crypto movement.

Vitalik Buterin warns that supporting politicians solely for their pro-crypto stance could create a situation where candidates only need to claim support for crypto to gain backing, regardless of their other policies. Buterin suggests this oversimplification might lead to supporting politicians who, while nominally pro-crypto, could actually hinder the broader crypto ecosystem through other legislative actions:

All that politicians have to do is make sure its easy for you to trade coins.

Contrasting with Buterins perspective, billionaire Mark Cuban has expressed a different view. Cuban believes that crypto policy could be a decisive factor in the upcoming U.S. presidential election. He has suggested that President Joe Bidens stance on crypto might even cost him re-election.

Cuban emphasized the importance of crypto to younger and independent voters, stating, Crypto voters will be heard this election. He also asserted that Biden needs to choose between supporting SEC Chair Gary Genslers approach to crypto regulation or appealing to crypto-friendly voters.

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Ethereum co-founder urges broader political perspective in crypto - ReadWrite

Shytoshi Kusama, the enigmatic leader of the Shiba Inu ecosystem, has catapulted into the ranks of crypto luminaries on X by surpassing the 1 million follower mark.

The latest record confirms that Kusama now boasts over a million followers on the Elon Musk-owned social media platform. Accordingly, Kusama now joins an elite group of influential figures in the crypto sphere, including Musk himself, Vitalik Buterin, Tyler Winklevoss, Michael Saylor, Anthony Pompliano, and Changpeng Zhao (CZ).

Considering the weight of the development, the Shiba Inu ecosystem team has celebrated the new milestone of the ecosystem leader. In a dedicated statement, the team stressed that the achievement marks a pivotal moment for the Shiba Inu project as it solidifies Kusamas stature within the crypto community.

Notably, the seeds of Kusamas new achievement were sown on March 4, when he casually asked X, Can I hit 1M followers?

A few days later, prominent community figure Tanzeel noted that if Kusama attained the 1 million follower milestone, she would orchestrate a SHIB giveaway. Specifically, Tanzeel disclosed plans to give out 5 million SHIB tokens from her personal wallet, stressing that Kusama more than deserves the milestone.

Fast-forward to June 17, the Shiba Inu lead developer realized the goal, bringing a new wave of enthusiasm for the SHIB Army.

According to the team, this milestone symbolizes the growing recognition and influence of the Shiba Inu project within the wider crypto scene. They believe Kusamas substantial following provides a direct platform to engage with a vast audience of crypto enthusiasts, potentially driving further awareness and adoption of SHIB.

Furthermore, the announcement noted that Kusamas influential position enables him to guide the narrative surrounding Shiba Inu, counter misinformation, and foster a positive image for the project.

Community members have flooded X with congratulatory messages for Kusama, celebrating his accomplishment. Some enthusiasts now express newfound confidence in the Shiba Inu project under Kusamas visionary leadership.

Amid this new milestone, Tanzeel is keeping true to her giveaway promise. Her celebratory remarks for Kusama noted that the announced giveaway will unfold on July 4th.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Shiba Inu Lead Joins Elon Musk, Vitalik Buterin, CZ with Over 1M Followers - The Crypto Basic

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While the crypto sector has made immense strides over the last couple of years, concerns surrounding its overall scalability and privacy have continued to persist. To this point, even though , the worlds second-largest crypto network by market cap, has grown and garnered widespread adoption, critics have repeatedly pointed out the need for efficient and secure scaling solutions to help the project reach its true potential.

Enter PlasmaCon, an upcoming event organized by INTMAX, a cutting-edge Layer 2 zkRollup with a stateless architecture, alongside the prestigious EDCON Tokyo 2024 conference. It seeks to reignite the discussion around Plasma tech, Vitalik Buterin's original vision for scaling Ethereum.

Plasma, as proposed by Vitalik Buterin and Joseph Poon back in 2017, was envisioned as a novel solution to bring Visa-level transaction volumes (reportedly between 1,700 - 4,000 transactions per second) to the Ethereum network. While initially overshadowed by the emergence of Rollups, Plasma is now making a comeback, as emphasized by Buterin himself in his blog post "Exit games for EVM validiums: the return of Plasma." Plasma's core concept revolves around creating a separate, high-throughput construction connected to the Ethereum blockchain.

This construction, known as a "Plasma chain," handles off-chain transactions, freeing the main Ethereum blockchain to focus on smart contract execution and security guarantees. By relying on the underlying blockchain's security model, Plasma aims to provide a scalable and secure solution for handling high transaction volumes.

Bringing Together Blockchain's Brightest Minds Recognizing the renewed interest in Plasma and its potential to address Ethereum's scalability challenges, INTMAX has organized PlasmaCon, a builder-focused event set to take place on July 31st, 2024, at the United Nations University in Tokyo. This exclusive event promises to bring together some of the most brilliant minds in the blockchain industry.

With a limited capacity of 400 attendees, PlasmaCon offers an intimate and interactive experience featuring over 15 global experts who will share their knowledge and insights on various topics related to Plasma, privacy, data availability, and decentralized applications (dApps).

The event's stellar lineup includes renowned speakers such as Vitalik Buterin, the co-founder of Ethereum; Justin Drake and Barry Whitehat, researchers at the Ethereum Foundation; Scott Moore, Founder of Public Works and Co-founder of Gitcoin, Suji Yan, Founder of Mask Network (LON:); Ventali T., Co-founder of Lita; and Leona Hioki, renowned Plasma tech researcher and co-founder of INTMAX.

As part of the scheduled discussions and showcases, attendees can expect to delve into several critical themes that have the potential to shape the future of the Ethereum networks (as well as blockchain technology as a whole). One of the primary focuses of the event will be exploring new technologies and protocols designed to enhance Ethereum's scalability, speed, and efficiency. With Plasma making a resurgence, discussions will likely center around its potential to address the network's scalability challenges and its advantages over existing solutions like Rollups.

INTMAX (@intmaxIO) June 13, 2024

Privacy has long been a concern in the blockchain sector, and PlasmaCon aims to address this issue by showcasing the latest advancements in protecting user privacy on the Ethereum network. Beyond this, the conference will also provide valuable insights into various real-world blockchain applications across different industries with experts sharing their perspectives on how these technologies can be leveraged to solve real-world problems and drive innovation.

In a recent interview, Leona Hioki, Co-founder of INTMAX, stated that PlasmaCon has been designed to be the perfect platform for helping bring the spotlight back on Plasma scaling solutions as they stand to truly redefine Ethereums digital architecture in the near future. It's time to revisit Plasma, Statelessness, and Privacy. Join us in Tokyo on July 31st!" she was quoted as saying.

Looking Ahead By actively participating in both Edcon 2024 Tokyo and PlasmaCon, INTMAX is reaffirming its commitment to fostering insightful discussions and supporting innovative builders within the Ethereum ecosystem. Moreover, these gatherings stand to advance niche ideas (such as Plasma scaling), address industry challenges, and showcase INTMAX's diverse capabilities to drive innovation within the crypto sector.

Therefore, as the industry continues to evolve, events like PlasmaCon will play a crucial role in shaping the future of this disruptive technology. By bringing together the brightest minds and revisiting Vitalik Buterin's original vision for scaling the Ethereum network, the conference stands poised to become a catalyst for growth and pave the way for the next generation of blockchain solutions that prioritize scalability, privacy, and decentralization.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

This content was originally published on Crypto Daily

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Exploring Vitalik's Original Ethereum Scaling Vision at PlasmaCon By Crypto Daily - Investing.com UK