Bitcoin

Jimmy Wales, Wikipedia co-founder has received several backlashes from X app users who pointed out his series of criticisms against <a href="https://coingape.com/markets/is-it-too-late-to-buy-bitcoin-btc-in-december/" target="_blank" rel="noopener">Bitcoin</a> (BTC), the leading cryptocurrency by market capitalization. 
<h2 id="strong-the-reliability-of-bitcoin-btc-questioned-strong">The Reliability of Bitcoin (BTC) Questioned</h2> 
The American-British Internet entrepreneur recently made a statement that questioned the reliability of Bitcoin (BTC) against traditional assets. For context, Wales painted a scenario, claiming he lost his bank password which caused him to lose his entire net worth. 
“No, actually, that didn’t happen, because banks work and bitcoin doesn’t,” he teased. 
Notably, the Wikipedia founder has not always felt this way about Bitcoin as he once ‘tested the waters’ by investing a certain amount into a BTC pool. He had even gone as far as sharing his experience with excitement. Around this same time, Wikipedia began to accept donations in Bitcoin. However, his ‘hate’ towards the flagship cryptocurrency began to take shape in 2017 and since that time till now, he has been consistent with expressing this anti-Bitcoin sentiment. 
His vocal criticism has now earned him some slamming from pro-XRP lawyer John E. Deaton and Dogecoin founder Billy Markus. Deaton who is largely <a href="https://coingape.com/john-deaton-predicts-ripples-sec-fine-will-be-much-lower/" target="_blank" rel="noopener">recognized for his advocacy</a>&nbsp;in the Ripple vs SEC lawsuit, started by sharing a similar personal experience. 
He claimed to have once tried to withdraw $19,000 in cash from a traditional bank. According to Deaton’s account, his transaction was significantly delayed on the account and the bank manager was unavailable at that point.&nbsp; 
During that same time, Bitcoin added 144 blocks more to its chain as it typically runs unhindered. The pro-XRP lawyer considered his bank situation and pointed out that Bitcoin would have been more efficient and convenient in such an event.&nbsp; 
<h2 id="strong-crypto-top-players-joins-the-roasting-strong">Crypto Top Players Joins the Roasting</h2> 
Markus on the other hand, talked about Wikipedia’s solicitation for donations on its platform, a similar stance held by Erik Voorhees, the founder and former CEO of Coinapult. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 the only thing i know about you is you constantly beg for money like a bum 
 — Shibetoshi Nakamoto (@BillyM2k) <a href="https://twitter.com/BillyM2k/status/1734013771063185814?ref_src=twsrc%5Etfw">December 11, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
“Wikipedia no longer needs to beg for donations whenever users arrive at the site. No, actually, they still do, because Wikipedia didn’t buy any Bitcoin ten years ago when we told you about it,” Voorhees pointed out directly responding to the claims that Bitcoin doesn’t work. 
<a href="https://coingape.com/just-in-tether-names-paolo-ardoino-as-ceo-in-a-strategic-move/" target="_blank" rel="noopener">Tether CEO Paolo Ardoino</a> was more assertive about his reaction to Wales, emphasizing that the latter’s company Wikipedia would be replaced by a decentralized alternative shortly. 
The post <a rel="nofollow" href="https://coingape.com/wikipedia-founder-slammed-for-bitcoin-btc-criticisms/">Wikipedia Founder Slammed for Bitcoin (BTC) Criticisms</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Wikipedia Founder Slammed for Bitcoin (BTC) Criticisms

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