Joseph Lubin, the co-founder of Ethereum, has made a tweetstorm in which he called the cryptobottom of 2018 and extensively slammed the generators of FUD.
In an emotional tweet, he wrote that this bottom is marked by an epic amount of fear, uncertainty, and doubt, — a.k.a FUD. He thanked the 4th and 5th crypto estates, i.e. industry media and social commentators, for producing it.
Lubin went on to say that these commentators have also recently employed “a rather typical tune: the alarmed, the eulogistic, and the gleeful.” Specifically, in response to Consensys 2.0. Concurrently, he pointed out that the journalists who are susceptible to this “pre-emptive paranoia” have no data, insight info or understanding of the situation they are trying to assess.
He continued the thread by pointing out that Consensys, which has seen a massive layoff, remains healthy, as Altcoin Buzz previously reported. Some of the laid-off employees are about to fill in other roles at Consensys. Lubin calls it “a rebalancing of our activities and workforce.” Plus, he stated that Consensys has hired around fifteen people or so around last week.
He added: “The sky is not falling. From my perspective the future looks very bright. I remain excited about scalability solutions that are available now…”
Within this context, he mentioned such projects as
@IoKomgo which went live this week. Plus, the Solutions group “are on the verge of locking down a few very exciting and sizable consulting projects.”
He ended on a highly positive note saying that “Peaking into 2019, if you could see the landscape through my eyes, you’d have to wear shades. Yours in Ethereal Serenity, JML”
And then made a final clarification.
Vitalik had his say
Vitalik Buterin, who has recently disconfirmed the rumor of him leaving ETH, joined the thread by tweeting “Expand up to 1100 people, shrink to 600, keeping the 6/11ths that are most productive: OMG consensys is dead! Expand up to 600 with no shrinking, announce every step of the expansion: wow, the company is prospering! Lulz.”
However, not everyone shared Buterin’s point of view. Riccardo Spagni, for example, suggested that this layoff serves as an indicator of poor management. Buterin partially agreed by stating “Oh I agree it was a bad decision to hire 500 people they couldn’t keep.” He also added in his quite usual quarrelsome manner “That said, if that’s your angle, then the overlooked news here is that they’re getting *more* competent.”
Previously Buterin told the centralized changes to burn in hell as fast as possible and stated that “opportunities for 1,000-times growth no longer out there.” He later elucidated what this claim meant.