Ethereum Co-Founder Says Safety Concern Has Him Quitting Crypto

[DEAD7]

Ethereum Co-Founder Says Safety Concern Has Him Quitting Crypto


"Anthony Di Iorio, a co-founder of the Ethereum network, says he's done with the cryptocurrency world, partially because of personal safety concerns," reports Bloomberg, in a story shared by Slashdot reader tekram:Di Iorio, 48, has had a security team since 2017, with someone traveling with or meeting him wherever he goes. In coming weeks, he plans to sell Decentral Inc. [maker of Jaxx, a digital asset wallet], and refocus on philanthropy and other ventures not related to crypto. The Canadian expects to sever ties in time with other startups he is involved with, and doesn't plan on funding any more blockchain projects. "It's got a risk profile that I am not too enthused about," said Di Iorio, who declined to disclose his cryptocurrency holdings or net worth. "I don't feel necessarily safe in this space. If I was focused on larger problems, I think I'd be safer..."

He was also for a time chief digital officer of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth was as high as $1 billion. Ether's price has more than doubled since then.
Bloomberg points out that Di lorio's net worth was estimated in 2018 at $1 billion — and that since then Ether's price has more than doubled, with the token holding a total market capitalization around $225 billion (second only to bitcoin).

Bloomberg also notes that Di lorio is involved in Project Arrow, a company building a zero-emission self-driving car. Di Iorio plans to sell Decentral Inc for equity, not cryptocurrency, telling Bloomberg that "I want to diversify to not being a crypto guy, but being a guy tackling complex problems...

"I will incorporate crypto when needed, but a lot of times, it's not. It's really a small percentage of what the world needs."

 

[GunRanger]

He's creating a sob story for marketing or he fukked someone over. No one is trying to whack him over Vitalik

 

[cheek100]

I don’t believe none of this shyt nor do I believe he’s worth ONLY $1b.
Eth been taking pr hits lately too.

 

[Paper Boi]

He's creating a sob story for marketing or he fukked someone over. No one is trying to whack him over Vitalik

lol the crypto scene is filled with weirdo criminals, just because you're not one and tryna come up... don't be so sure.

it's also not mutually exclusive, he coulda fukked someone over and also be fearing for his safety

 

[Propaganda]

weird reason to "quit" crypto. gotta be more to that story.

I don’t believe none of this shyt nor do I believe he’s worth ONLY $1b.
Eth been taking pr hits lately too.

really, such as?

 

[Uitomy]

Worried about security risks but wants to make self driving car with fake 0 emissions ok

 

[cheek100]

weird reason to "quit" crypto. gotta be more to that story.



really, such as?

Keep seeing extra fud on twitter about how gas fees are driving ppl away from eth. And how eth 2.0 ain’t all it’s cracked up to be.

 

[GunRanger]

lol the crypto scene is filled with weirdo criminals, just because you're not one and tryna come up... don't be so sure.

Which is why i said what i said. If he's implying he's worried about his safety because he helped create it, he's full of it. He's either involved with some criminals or using this as a bs reason to leave. The article is an ad for his new company anyway

Keep seeing extra fud on twitter about how gas fees are driving ppl away from eth. And how eth 2.0 ain’t all it’s cracked up to be.

Gas is cheap now. Theyre full of it.

 

[Professor Emeritus]

The story is weird but some folk not feeling crypto like that recently.

Creator of Dogecoin speaks out for the first time in 2 years.

Dogecoin co-creator Jackson Palmer isn’t on social media much. After nuking his YouTube channel and turning his Twitter account private back in mid-2019, the software engineer hadn’t made a peep on the platforms at all; not even when prices for his meme-y crypto reached record highs earlier this year. That blackout ended today when Palmer briefly resurfaced on Twitter with an important reminder: cryptocurrency’s a scam and always has been.

“After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity,” he tweeted out on Wednesday afternoon.

Palmer went on to say that while crypto’s biggest fans often point to it as an equitable alternative to the Big Banks because of the currency’s decentralized nature, the truth is that the two share the same problem: rich people. As he (rightfully) noted, the bulk of the crypto community is controlled by “a powerful cartel of wealthy figures” who are turning decentralized finance into a system that largely benefits those at the top—kind of like the centralized systems crypto claims to replace.

 

[Mook]

The only use for crypto is crime and to have less people trusting each other.

ETH gas fee is only down cause no one's using the shyt.

 

[null]

The only use for crypto is crime and to have less people trusting each other.

ETH gas fee is only down cause no one's using the shyt.

is the mob a better master than the privileged ?

that is the question

anyway BTC itself is not an NFT so ....

 

[old pig]

Eth been taking pr hits lately too.

all of crypto has for about the last 2 months…and like clockwork too…everybody will be back on it by the time the halvening rolls around again (still a long way out unfortunately) and the detractors will go back to being quiet until the mania wears off again…rinse and repeat

 

[Professor Emeritus]

is the mob a better master than the privileged ?

that is the question

anyway BTC itself is not an NFT so ....

Except as Jackson Palmer writes above, crypto is absolutely controlled by the privileged. A small group of ultrarich consistently manipulate the market to enrich themselves while selling their followers the hope that they can all get rich too. Thus the mob has all their pre-earned money tied up in crypto while the privileged have already cashed out repeatedly and are now ultra-wealthy based solely on having siphoned off the wealth of their followers who believe in crypto.

It's a classic pyramid scheme. There's no meaningful wealth being built in comparison to the wealth that is being shuffled up the pyramid from the lower levels to the higher ones. It only has greater "legitimacy" among some folk because they truly believe that the world is going to adopt Bitcoin/Dogecoin/Shiba and thus they'll eventually end up closer to the top of the pyramid than on the bottom. But that will only mean that a larger group of privileged have profited off a larger mob, it won't change the underlying dynamic.

 

[null]

Except as Jackson Palmer writes above, crypto is absolutely controlled by the privileged. A small group of ultrarich consistently manipulate the market to enrich themselves while selling their followers the hope that they can all get rich too. Thus the mob has all their pre-earned money tied up in crypto while the privileged have already cashed out repeatedly and are now ultra-wealthy based solely on having siphoned off the wealth of their followers who believe in crypto.

It's a classic pyramid scheme. There's no meaningful wealth being built in comparison to the wealth that is being shuffled up the pyramid from the lower levels to the higher ones. It only has greater "legitimacy" among some folk because they truly believe that the world is going to adopt Bitcoin/Dogecoin/Shiba and thus they'll eventually end up closer to the top of the pyramid than on the bottom. But that will only mean that a larger group of privileged have profited off a larger mob, it won't change the underlying dynamic.

yeah but the (exploited) mob moves the market.

when that happens in a bank run an authority steps in. they guarantee deposits. there is the PPT. asset purchases. emergency bank holidays. fiscal policy changes. legal changes (taxation) etc.

in crypto there is no circuit breaker to protect against the mania of the mob,

so even if we were to fully democratise a digital monetary system (a public crypto), is rule of the mob desirable?

would we want the medical system determined by the majority? the legal system?

it's a lot considered problem but one that is largely ignored in discussions of crypto, where the underlying assumption is of net population rationality and sagacity.

 

[morris]

The story is weird but some folk not feeling crypto like that recently.

Creator of Dogecoin speaks out for the first time in 2 years.

This has been my issue since I first heard of Bitcoin.

Who's in charge? How is this trailed?

Until Crytpocurrency is just that, in its meant-to-be-form (online currency) this will fail because you STILL have to convert those crypto coins/dollars/whatever to real dollar bills that come from a bank.

I like the idea of blockchain (or DLT, Distributed Ledger Technology), and as much I hate to say it, there will have to be some entity overruling (perhaps on a case-to-case basis), because without it the person(s) on the other side who understand how blockchain technology works, will always come out on top with No Repercussion. There is a price to pay for private transactions.

I'm not technical like that at all but I thought initially blockchain was for direct transactions and also to assist in data migration (even if from an old IBM )