Brian Armstrong’s Admiration for Vitalik Buterin
In a recent social media update, Brian Armstrong, the CEO of Coinbase, expressed admiration for Vitalik Buterin, one of the key figures behind Ethereum, coinciding with the 12th anniversary of the release of Ethereum’s whitepaper. Armstrong credited Ethereum with fundamentally transforming the cryptocurrency landscape by equipping developers with advanced resources such as a Turing-complete programming language. He acknowledged Buterin and the broader Ethereum community for their significant contributions to the space.
Criticism from Bitcoin Maximalists
However, this praise was met with criticism from Bitcoin maximalists who labeled Ethereum as “centralized pseudo-money” and effectively a form of fiat currency. Detractors argue that relying on a centralized entity—like a CEO or foundation—leads ultimately to corruption and inflation, suggesting that all forms of centralization carry the same inevitable pitfalls.
The Origins of Their Relationship
Armstrong and Buterin’s relationship began back in 2013 during a Bitcoin conference held in San Jose, where Armstrong noted his appreciation for Buterin’s writing contributions to Bitcoin Magazine. This initial encounter led to an invitation for Buterin to visit Coinbase’s first office in San Francisco. Coinbase had even expressed interest in hiring Buterin, but complications related to his U.S. work visa status ultimately saw him return to Canada.
The Birth of Ethereum
While in Canada, Buterin authored the Ethereum whitepaper, which garnered widespread acclaim for its revolutionary approach to smart contracts and decentralized applications, pushing beyond conventional digital currency frameworks.
Recognition and Impact
As they progressed in their respective careers, both Armstrong and Buterin earned spots on influential lists recognizing them as prominent figures in the crypto and tech industries, including Fortune’s “40 Under 40” in 2017. Since its inception in 2015, Ethereum has rapidly ascended to become the second-largest cryptocurrency by market cap, while Coinbase has established itself as a leading exchange in the U.S. Bitcoin was initially the primary focus of Coinbase, but Ethereum was added to the platform in July 2016, leading to a significant controversy among Bitcoin enthusiasts.
