Binance CEO Fires Back at Vitalik Buterin’s “Burn in Hell” Comment

Binance CEO Fires Back at Vitalik Buterin’s “Burn in Hell” Comment

cryptocurrency exchange News
July 11, 2018 by Jane
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The CEO of Binance is pushing back against Ethereum creator Vitalik Buterin’s recent comments on centralized exchanges. Ethereum founder Vitalik Buterin attacked the issue of centralized exchanges by stating that “I definitely hope centralized exchanges go burn in hell as much as possible”. Buterin’s comments caught the attention of Binance CEO Changpeng “CZ” Zhao who responds to Buterin on
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The CEO of Binance is pushing back against Ethereum creator Vitalik Buterin’s recent comments on centralized exchanges.

Ethereum founder Vitalik Buterin attacked the issue of centralized exchanges by stating that “I definitely hope centralized exchanges go burn in hell as much as possible”. Buterin’s comments caught the attention of Binance CEO Changpeng “CZ” Zhao who responds to Buterin on Twitter.

“Let’s not wish others to ‘burn in hell’. Let’s have a bigger heart, and appreciate the fact that we are all part of an eco-system, not independent projects,” Zhao announced.

CZ continues to reiterate that without centralization, all coins would have less liquidity, the industry would be smaller and the industry would develop slower.
Probably all by more than 10x. Just because someone else is doing the lowly grunt work, doesn’t make them dirty.”

“Don’t get me wrong, I am all for blockchain/decentralization/freedom. But I would not wish ‘burn in hell’ on anyone or anything. That’s just not a nice thing to say, even if it was said by Vitalik. I didn’t bother asking him yet, I assume he just meant he didn’t like centralization, which is fine.”

Decentralization is a means, not an end. The goal is to increase freedom and choice. Let people choose what they want. At the moment, more people seem to choose centralized exchanges over a decentralized one, and there are good reasons for it.

CZ concludes his statements stating: “There is no absolute decentralization. Projects with core teams still have centralization. Today, Vitalik probably has more king-like powers than anyone else in the industry, and has used it, by serving as advisers for projects, therefore helped to decide their fate, at least fate of their ICOs to a large extent.”

 

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