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- Charles Hoskinson claims Bitcoin began centralized, with Satoshi holding 100% Bitcoin hash power at the start.
- Hoskinson questioned why Bitcoin maximalists are reluctant to acknowledge other crypto projects starting the same way as Bitcoin.
- Hoskinson challenged their consistent labeling of other crypto projects as scams and security.
Charles Hoskinson, the Cardano blockchain’s founder, has recently taken a swipe at ardent supporters of Bitcoin (BTC), arguing that Bitcoin has launched as a fully centralized entity. Hoskinson expressed this sentiment in a recent live stream, weighing on the evolving dynamics in the Bitcoin, Ethereum, and Cardano communities.
On Bitcoin, Ethereum, and Cardano https://t.co/ooeZ1IgfLT— Charles Hoskinson (@IOHK_Charles) November 30, 2023
Hoskinson first highlighted that, at the time, while Bitcoin was gradually gaining traction, there was barely a substantive altcoin market. He reflected that during this period, the crypto community maintained strong unity with positive relationships as the community was devoid of maximalist views.
However, he has observed a significant transformation since then, with intense rivalry permeating the crypto sphere. Hoskinson stated that the Bitcoin founder, Satoshi Nakamoto, had stayed anonymous because of the legal ambiguities surrounding currency issuance.
Expanding on this argument, he asserted that Bitcoin maximalists cannot ignore the reality that, during Bitcoin’s inception, Satoshi possessed 100% of Bitcoin’s hash power, affording complete control over the network.
Additionally, Hoskinson underscored the arduous process that aspiring BTC miners had to undergo to witness optimal functionality in a Bitcoin node.
“At least some of the Bitcoin issued through the mining process was done in a completely centralized way because only one actor mined them. He had complete control over the network,” the Cardano founder claimed.
Countering claims that Bitcoin has achieved full decentralization, he questioned why Bitcoin maximalists are reluctant to acknowledge the possibility that other crypto projects might initially begin in a centralized manner and then progress toward decentralization.
Moreover, Hoskinson challenged Bitcoin maximalists on their consistent labeling of other crypto projects, apart from Bitcoin, as scams and security. He considers them hypocritical, as they have consistently viewed other crypto project founders as fraudsters deserving to be in jail.
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