Wikipedia Founder Slammed for Bitcoin (BTC) Criticisms
Jimmy Wales, Wikipedia co-founder has received several backlashes from X app users who pointed out his series of criticisms against Bitcoin (BTC), the leading cryptocurrency by market capitalization.
The Reliability of Bitcoin (BTC) Questioned
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 recognized for his advocacy 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.
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.
Crypto Top Players Joins the Roasting
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.
the only thing i know about you is you constantly beg for money like a bum
— Shibetoshi Nakamoto (@BillyM2k) December 11, 2023
“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.
Tether CEO Paolo Ardoino was more assertive about his reaction to Wales, emphasizing that the latter’s company Wikipedia would be replaced by a decentralized alternative shortly.
- Grayscale Staking Ethereum ETF Debuts By Locking 32,000 ETH But Inflows Disappoint
- Pi Network Loses $18B Value in Six Months as Expert Warn of “Rug Pull” Risk
- Fed’s Jeffrey Schmid Signals Opposition to Further Rate Cuts With Inflation ‘Too High’
- IBIT Bitcoin ETF Becomes BlackRock’s Most Profitable Fund, Nears $100B Milestone
- Bitcoin Tops $126,000 as Market Prices In Three-Week U.S. Government Shutdown
- Solana Price Eyes 56% Rebound Amid Solana Company’s Massive $530M SOL Acquisition
- Ethereum’s Price Bullish Cycle Resumes as Grayscale Launches Spot Staking ETPs – Is $7,331 Next?
- Pi Network Price Risky Pattern Points to Crash as 14M Coins Leave OKX
- Bitcoin Price Prediction as Exchange Reserves Hit 6-Year Low—Is $150K Within Reach?
- Dogecoin Price Rebounds 15% From Buy Zone as Whales Add 30M DOGE – Can Bulls Push Beyond $0.30?
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
