Web 3.0 Wars are Becoming Personal as Jack Dorsey Draws the Decentralization Line

Altcoins Bitcoin Community Ethereum Jack Dorsey
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Fredrik Vold
Author Categories
About Author

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
Jack Dorsey. Source: video screenshot, TED / YouTube

 

Jack Dorsey, Twitter’s ex-boss and current CEO of payments company Block (formerly Square), is again on the offensive, criticizing ethereum (ETH) and other altcoins for being largely centralized and controlled by the interests and incentives of venture capitalists (VCs).

“I’m not anti ETH. I’m anti-centralized, VC-owned, single point of failure, and corporate controlled lies,” Dorsey, a well-known bitcoin (BTC) proponent, said in response to questions about what he sees as the problem with the world’s second largest crypto project and the broader space that has been dubbed ‘Web3’ by proponents.

He added: “If your goal is anti establishment, I promise you it isn’t ethereum. Don’t believe or trust me! Just look at the fundamentals.”

“I care only about decentralized, secure, private foundations without single points of failure. And I’m focused on that,” Dorsey said.

The tweets from Jack Dorsey late last night (US time) followed a feud a day earlier involving himself, venture capital firm Andreessen Horowitz (a16z) partner Chris Dixon, Tesla chief Elon Musk, as well as several leading members of both the Bitcoin and Ethereum communities.

This time, the same group of billionaires are at it again, while a16z co-founder Marc Andreessen observed the attacks on his firm from the sidelines, and instead appeared to respond by blocking Dorsey on Twitter.

“I’m officially banned from web3,” Dorsey commented.

Not long after, members of the Bitcoin community offered ‘words of comfort’ to the former Twitter CEO, with the famous bitcoin bull and MicroStrategy CEO Michael Saylor saying that “this makes it all the easier to focus on bitcoin.”

“Same 🙁 Guess it’s back to work on Bitcoin,” commented Jack Mallers, founder and CEO of the popular bitcoin wallet Strike.

The Twitter battle over what is decentralized and what is “VC-owned” is also raising eyebrows outside of the Cryptoverse, with mainstream outlets ranging from the New York Times to Bloomberg all giving coverage.

The Twitter feud exposes “a deep internal rift over the direction of crypto” between bitcoin evangelists and some of the crypto industry’s “deepest-pocketed backers,” the New York Times noted in their coverage.

Meanwhile, some industry leaders from the world of crypto also took the opportunity to remind people that venture capital is not a prerequisite in order to successfully launch a Web3 project.

“If you are a founder starting on your journey to help build Web3, remember this: You don’t need VC money,” Crypto.com founder Kris Marszalek wrote. He added that although it is “a harder route,” it is one that “doesn’t require you to sell your soul.”

More reactions:

__

__

____

Learn more:

VCs Fight Back as Jack Dorsey, Elon Musk Attack ‘Web3’ Narrative
Dorsey Justifies His Pro-Bitcoin Stance, Says He Is ‘Not Trolling’ Ethereum

Ethereum Founder Skeptical of Dorsey, Zuckerberg’s Plans
Jack Dorsey’s Decision to Quit Twitter Is Not a Vote of Confidence in Future of Social Media

Twitter’s Bluesky Finds New Lead, Square Building the Bitcoin Wallet Team
The ₿ Word Panel with Cathie Wood, Jack Dorsey, & Elon Musk
 

More Articles

Bitcoin News
Utah One Step Closer to Becoming First US State with Bitcoin Reserve
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-07 04:48:13
Altcoin News
Franklin Templeton Pursues SEC Nod for New Crypto Index ETF
Shalini Nagarajan
Shalini Nagarajan
2025-02-07 04:30:47
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors